Wazua
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Realities of Forex Investment
Rank: Elder Joined: 4/9/2008 Posts: 2,824
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which is the best online forex trading company? And why so? I have been thinking of joining forex. When I have money, I get rid of it quickly, lest it find a way into my heart.
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Rank: Member Joined: 9/8/2008 Posts: 2
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Hi all,my name is Ngaara and just joined SK. I am a Referring Broker for FXCM and GFT. I have noticed my name mentioned in this forum as having conned some person called "Mozenrat". First and foremost,I would like to make it clear here that I do not manage clients funds even though I do have the capacity and mandate from both firms to do so. My role is simply to market services offered by both firms. Secondly,I DO NOT collect funds from the public. I do give clients tips on money management/risk management. For clients looking to have their accounts managed,I do refer them to traders who have shown a good understanding of the FX market,but I would like to point out that any arrangement entered between an investor and the trader (fund manager) is entirely between both parties. It would only be fair if "Mozenrat" could first and foremost disclose his/her actual identity,or better still,the moderator of this forum should insist on pple like Mozenrat refraining from referring direclty to an individual if they themselves are hiding behind nicknames,otherwise this will turn an otherwise beneficial forum into a mudslinging forum.
CMN
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Rank: Member Joined: 5/6/2008 Posts: 107
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@Ngaara
Its bold and wise you came out to dispel the stories written about you in the forum.I am the one who initiated the discusion and mozenrat himself also replied some times ago and rectified that he was not "conned" by ngaara but a person called Andrew njoroge kangara and he confirmed.So if your name has been misrepresented i am taking this opportunity to apologise.THis forum is to help one another so that guys cannot be fleeced out there,i stopped mentioning names but there are guys out there,so if anyperson is duped he himself can have the right to discuss or air the views and we feel if a person has been injured then let him name the person,and the person himself should come out clean and defend himself.
Here in this forum we will continue to uphold the standards but cannot stop people from mentioning names.But we will continue to brief the public on the facts and help them to have wise decision.
@kingfisher please start getting on the babypips and the website which you have been advised by my colleague tonicasert which he described it earlier.And then you can ask questions where you feel you are not satisfied and we will be ready to help you all here in this forum.
@passyson you were right man,i tried and scooped 15 pips haraka.Thanks
@NGAATU
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Rank: Member Joined: 8/8/2008 Posts: 97
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@Ngaatu...that's good to hear. I am doing 10 lots for particular currency pairs that i am absolutely sure about (trending environment)...like the EUR/USD pair on 10 lots has given me good profits...same as AUD/USD pair.
For other currency pairs like Kiwi based...i am going on 6 lots...that way,my profits margin are wider.
What i will be doing is letting guys know which pairs i can see trending for the next 1 hour and as such will be entering on 10 lots. Would not advise anyone else to do so if they do not have at least 5,000USD in their accounts...one might get a margin call.
Am currently short AUD/USD ...been doing it in spurts of 1 hour..entered at .814170 and i think i will use a trailing stop on this one coz i need to go out for a while..
Good evening all and a pleasant usiku.
Anyone who lives within their means suffers from a lack of imagination
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Rank: Member Joined: 9/8/2008 Posts: 2
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Thanks for clarifying this matter Ngaatu. Look forward to making whatever contributions/advise I can esp on the FX scene and CFDs. For those not familiar with CFDs,try find time to research on them,quite exciting.
CMN
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Rank: Member Joined: 8/8/2008 Posts: 97
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Morning all
Gone short AUD/USD,10 lots @ .811050...will keep you updated
Anyone who lives within their means suffers from a lack of imagination
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Rank: Member Joined: 8/8/2008 Posts: 97
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Also gone short EUR/USD @ 1.413170 and AUD/NZD @ 1.206980...i am looking at 15-30 pips in both cases.
Happy Trading.
PS/ first time to use Google chrome in posting...wonder how it will turn out!
Anyone who lives within their means suffers from a lack of imagination
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Rank: Member Joined: 3/10/2008 Posts: 301 Location: Abu Dhabi
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Hi all,
Shorted GBPUSD at 1.7580,targetng 1.7535-40 levels. Am not very comfy with the tightening ranges.
GL and GT
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Rank: Member Joined: 8/8/2008 Posts: 97
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Exited EUR/USD and AUD/USD @15 pips and 31 pips profit levels respectively...waiting to see if AUD/NZD S/L will be hit
Anyone who lives within their means suffers from a lack of imagination
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Rank: Member Joined: 8/8/2008 Posts: 97
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AUD/NZD T/P realised @ 15pips...the morning trades have been good.
Will do one more trade in the next hour and then chill out for the NY session @ 4pm
Anyone who lives within their means suffers from a lack of imagination
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Rank: Member Joined: 8/8/2008 Posts: 97
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Gone short EUR/NZD @ 2.092510 and long AUD/USD @ 0.814990...looking to T/P at 25 pips each.
Anyone who lives within their means suffers from a lack of imagination
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Rank: Member Joined: 8/8/2008 Posts: 97
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EUR/NZD S/L hit...AUD/USD T/P @ 18 pips...that's all for London session
Anyone who lives within their means suffers from a lack of imagination
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Rank: Member Joined: 3/10/2008 Posts: 301 Location: Abu Dhabi
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@Passyon,
Thats some enviable pip raiding sessions you have. One day when I have the time...
Took my earlier 35 pips on GBPUSD. Just re-entered a short at 1.7624 targeting just sub 1.7600.
GL and GT
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Rank: Member Joined: 3/10/2008 Posts: 301 Location: Abu Dhabi
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Took profit at 1.7594.
Generally markets are trading in fairly decent ranges,and oscillators on the short time frame ae looking good. Actually in these conditions one can scalp almost every hour on the 5 min graph and make some 20-30 pips per trade.
Looking to short GBPUSD again when it retraces to 1.7620's levels (current 1.7590),and target around 1.7550-75. The next support is 1.7520,so have to trade in the direction of the market (down) i.e. keep shorting. ** Just indicating the trade strategy for newbies. I know it sounds too basic for some,and everyone has a trading strategy.
With Gold at 785 and Oil at 104 (edging closer to the psychological level of 100),we expect USD to continue with the run it experienced in the previously in the coming weeks.
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Rank: Member Joined: 8/8/2008 Posts: 97
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@Tonicasert...how i miss Dubai! The internet speeds down here can be really frustrating...anyway let me put up with it for a while.
Short on AUD/USD @.809140...expecting at least 20pips...am also contemplating on shorting EUR/USD...let me see how my indicators go especially after the home sales @ 5pm.
I will try the 5 min chart maybe on Thursday :)
Anyone who lives within their means suffers from a lack of imagination
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Rank: Member Joined: 8/8/2008 Posts: 97
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AUD/USD gave me 40 pips...Currently short EUR/USD @1.411580... targeting at least 80pips profit barring any whipsaws...
Anyone who lives within their means suffers from a lack of imagination
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Rank: Member Joined: 3/10/2008 Posts: 301 Location: Abu Dhabi
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@Passyon,
Pole,but soon the fibre optic will make things better.
Speaking of which,my station is down - my brokers are having some communication issues,so not just Kenya :)) So for now will just have to sit back and watch.
Have a nice evening.
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Rank: Member Joined: 8/8/2008 Posts: 97
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S/L for Eur/Usd hit...that's it for the day!
@Tonicasert...Good evening too.
Anyone who lives within their means suffers from a lack of imagination
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Rank: Member Joined: 8/13/2008 Posts: 3
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hi forex friends.
@passyson,@tonicasert,@ngaatu and others
your contributions are eye openers to me and i guess many other traders out here. thank you for your great insights. Any ideas for today's market esp. on USD MBA morgage & NZD rate decision?
Life is a JUST employer,He gives you what you ask...once you have set the wages,u must bear the task...
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Rank: Member Joined: 8/8/2008 Posts: 97
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Morning Bigisar...
As i have always said,Forex trading should never be a selfish venture..there is so much money to be made by everyone out there and it serves no purpose to hoard information unless one is mean to the core.
The NZD rate decision is up at midnight. Most economists expect the rate to be cut but by how much is the question. Anyway if the rate is cut by 50bp then expect NZD to lose against the USD. If the rates remain on hold then it would be preferable to buy NZD/USD...again all of this may come to naught especially noting that at midnight the Tokyo session is yet to come alive. I would expect greater movements during the Tokyo session that opens later in the morning.
As for now,the market is very choppy and there is nothing much to write home about. Lets see what happens in the London session.
Happy trading all!
Anyone who lives within their means suffers from a lack of imagination
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