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Realities of Forex Investment
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techboy
#2171 Posted : Sunday, February 17, 2013 9:05:03 AM
Rank: User

Joined: 6/18/2009
Posts: 271
Pick n Pay wrote:
I want to start doing Forex. Any of you guys at FXCM brokers?



Hi. off the bat i would like to warn you that forex trading is full of scammers . NEVER and i mean NEVER give somebody your money . they will scam you . be very careful.have you demo traded ? ifnot you should do that first .
i thought you would be demo trading as you learn ? thats the way people do it . anyway you need to download a trading software called mt4 and also you need to open a demo a/c with any forex broker you like . i will suggest instaforex . check below link

www.instaforex.com/open_demo_account.php


also this is VERY IMPORTANT . before you commit your real money in the forex trading whynot open a no deposit account and trade from that first . its a no risk account.basically with this a/c you are given live money that you can trade without depositing your own money check such account using below link

http://www.bestforexbonus.com/nodeposit-bonus
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hisah
#2172 Posted : Sunday, February 17, 2013 12:20:43 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
techboy wrote:
Pick n Pay wrote:
I want to start doing Forex. Any of you guys at FXCM brokers?



Hi. off the bat i would like to warn you that forex trading is full of scammers . NEVER and i mean NEVER give somebody your money . they will scam you . be very careful.have you demo traded ? ifnot you should do that first .
i thought you would be demo trading as you learn ? thats the way people do it . anyway you need to download a trading software called mt4 and also you need to open a demo a/c with any forex broker you like . i will suggest instaforex . check below link

www.instaforex.com/open_demo_account.php


also this is VERY IMPORTANT . before you commit your real money in the forex trading whynot open a no deposit account and trade from that first . its a no risk account.basically with this a/c you are given live money that you can trade without depositing your own money check such account using below link

http://www.bestforexbonus.com/nodeposit-bonus

Btw not all brokers support MT4.

MT4 platform is best for robot trading where you develop programs or buy a program that trades as per your trading instructions. But first perfect your own trading plan before you go for robo trading. I do not recommend buying robo programs. The risk of losing money is quite high!
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Pick n Pay
#2173 Posted : Sunday, February 17, 2013 1:03:11 PM
Rank: New-farer

Joined: 1/29/2013
Posts: 45
Location: South Africa
techboy wrote:
[quote=Pick n Pay]I want to start doing Forex. Any of you guys at FXCM brokers?



Hi. off the bat i would like to warn you that forex trading is full of scammers . NEVER and i mean NEVER give somebody your money . they will scam you . be very careful.have you demo traded ? ifnot you should do that first .
i thought you would be demo trading as you learn ? thats the way people do it . anyway you need to download a trading software called mt4 and also you need to open a demo a/c with any forex broker you like . i will suggest instaforex . check below link

www.instaforex.com/open_demo_account.php


also this is VERY IMPORTANT . before you commit your real money in the forex trading whynot open a no deposit account and trade from that first . its a no risk account.basically with this a/c you are given live money that you can trade without depositing your own money check such account using below link

http://www.bestforexbonus.com/nodeposit-bonus[/quote]

Hi Techboy,
Thanks for the info. I did do a demo account and l finally got a working strategy that earned me "virtual money". Could you suggest any online brokers?
Greed is fear.
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Pick n Pay
#2174 Posted : Sunday, February 17, 2013 1:06:48 PM
Rank: New-farer

Joined: 1/29/2013
Posts: 45
Location: South Africa
hisah wrote:
Pick n Pay wrote:
I want to start doing Forex. Any of you guys at FXCM brokers?

I use their services. For trading flexibility open the account through their UK office. US has too much restrictions (harsh & ambigious regulation) on fx trading since 2010.

Are you an fx newbie? If so, this is a high risk, high volatility venture and it's not a walk in the park in this high stakes casino. Only invest what you can afford to lose. If you cant stand losing $2000 in a short span, this is not your game. It takes a while to learn the ropes & produce consistent results.


Hi Hisah,

What do you need to open? (what documents & what is the least amount). I am a newbie but l did give try out their trading software and was happy with the platform and my trading results.
Greed is fear.
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hisah
#2175 Posted : Monday, February 18, 2013 9:31:33 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
hisah wrote:
Anyone still holding yen shorts? Been long GBPJPY (the beast) since Dec @132.46 and we're up 1 big figure. There's scope it may nail the next round level @150 and at the next big figure @152 i'll take profits. By then USDJPY may vault to 100 and nikkei around 12800 - 13000pts and very stretched technically. So a selloff will be in order as yen shorts get a proper squeezing.

Closed the GBPJPY long positions. GBP looks prime for a devaluation from the rhetoric of BoE. Also the yen selling is overdone. The yen short squeeze will squeeze it the most.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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hisah
#2176 Posted : Monday, February 18, 2013 9:54:30 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
This is what I mean about BoE - http://www.bloomberg.com...and-s-re-founding-.html

A goldman guy will be the head... Am not a fun of anything goldman.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Mkimwa
#2177 Posted : Monday, February 18, 2013 11:30:57 AM
Rank: Member

Joined: 10/26/2008
Posts: 380
hisah wrote:
hisah wrote:
Anyone still holding yen shorts? Been long GBPJPY (the beast) since Dec @132.46 and we're up 1 big figure. There's scope it may nail the next round level @150 and at the next big figure @152 i'll take profits. By then USDJPY may vault to 100 and nikkei around 12800 - 13000pts and very stretched technically. So a selloff will be in order as yen shorts get a proper squeezing.

Closed the GBPJPY long positions. GBP looks prime for a devaluation from the rhetoric of BoE. Also the yen selling is overdone. The yen short squeeze will squeeze it the most.


How do you manage to hold positive positions for soo long?

I can only assume that you look at daily/weekly charts.
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hisah
#2178 Posted : Monday, February 18, 2013 11:38:27 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Mkimwa wrote:
hisah wrote:
hisah wrote:
Anyone still holding yen shorts? Been long GBPJPY (the beast) since Dec @132.46 and we're up 1 big figure. There's scope it may nail the next round level @150 and at the next big figure @152 i'll take profits. By then USDJPY may vault to 100 and nikkei around 12800 - 13000pts and very stretched technically. So a selloff will be in order as yen shorts get a proper squeezing.

Closed the GBPJPY long positions. GBP looks prime for a devaluation from the rhetoric of BoE. Also the yen selling is overdone. The yen short squeeze will squeeze it the most.


How do you manage to hold positive positions for soo long?

I can only assume that you look at daily/weekly charts.

I trade weeklies. Dailies are to volatile if u trade large lot sizes.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Mkimwa
#2179 Posted : Monday, February 18, 2013 12:54:24 PM
Rank: Member

Joined: 10/26/2008
Posts: 380
hisah wrote:
Mkimwa wrote:
hisah wrote:
hisah wrote:
Anyone still holding yen shorts? Been long GBPJPY (the beast) since Dec @132.46 and we're up 1 big figure. There's scope it may nail the next round level @150 and at the next big figure @152 i'll take profits. By then USDJPY may vault to 100 and nikkei around 12800 - 13000pts and very stretched technically. So a selloff will be in order as yen shorts get a proper squeezing.

Closed the GBPJPY long positions. GBP looks prime for a devaluation from the rhetoric of BoE. Also the yen selling is overdone. The yen short squeeze will squeeze it the most.


How do you manage to hold positive positions for soo long?

I can only assume that you look at daily/weekly charts.

I trade weeklies. Dailies are to volatile if u trade large lot sizes.

Respect to you on that!

What strategies do you use?

I am using daily chart so far, and its been good.
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hisah
#2180 Posted : Monday, February 18, 2013 1:55:16 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Mkimwa wrote:
hisah wrote:
Mkimwa wrote:
hisah wrote:
hisah wrote:
Anyone still holding yen shorts? Been long GBPJPY (the beast) since Dec @132.46 and we're up 1 big figure. There's scope it may nail the next round level @150 and at the next big figure @152 i'll take profits. By then USDJPY may vault to 100 and nikkei around 12800 - 13000pts and very stretched technically. So a selloff will be in order as yen shorts get a proper squeezing.

Closed the GBPJPY long positions. GBP looks prime for a devaluation from the rhetoric of BoE. Also the yen selling is overdone. The yen short squeeze will squeeze it the most.


How do you manage to hold positive positions for soo long?

I can only assume that you look at daily/weekly charts.

I trade weeklies. Dailies are to volatile if u trade large lot sizes.

Respect to you on that!

What strategies do you use?

I am using daily chart so far, and its been good.

I trade breakouts and momentum. But this year CBs with their devaluation fantasies are making Fx trading a walk in the park!! The latest being the Norwegian CB who hinted at some devaluation since their ccy is getting too strong.

http://bloom.bg/12Njkz2

$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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