@Passyon

I've noticed you enter many trades at Tokyo open. How successful are they? Do you hold them through London session? Want to give it a try,though I also love my sleep :)

@Timber

I dont have all or perfect answers,maybe other members here might contribute more.

On Brokers - You need to look at the service the broker is giving you - how wide are the spreads,do they have online help / easy telephone access incase of some communication breakdown,are graph and news facilities upto market; Also check with the broker's regulators (depending on the country). US brokers are regulated by cftc and nfa. They post any cases brought up against the broker (so you can make your own decision on what kind of co. it is). Are you comfortable with their station? Eg I prefer a station thats Java based so that i can log in anywhere without having to download.

Regulation - Read above. On local regulation,I know of non which is falling under statutes,but I think Stephen Alala of Genius is trying to push for the regulation.

Where to get services - You have to decide after looking at the various factors. Personally I use oanda.com. They may not be very common since its the co policy not to advertise,but so far so good. Previously also traded with FXCM but left coz of some reasons.

Learn - Passyon suggested babypips.com. Its a good site and I saw it contains alot you can learn from. Secondly,experience is the best teacher,so you have to keep practicing.

Rate of return - I've put this intentionally last because this should be the last thing to focus on. You need discipline and experience to make good money. After you have grasped these,the returns will follow. Trading is a psychological game. At times you can even make 10% return on your capital in a day! But also the losses can be huge.

Wish you the best mate!

Morning guys!

The British pound does it again! Just keep shorting when it retraces. Waiting for it to go back above 1.7900 for another short (current 1.7860). So far +50 pips on 1 trade.

Gustav destruction much less than expected,and with oil hitting 110 level and below,we're bound to see a stronger USD. There's talk of GBPUSD going to 1.7200.

@Passyon

Thanks. Will try one of these days and see how it goes. For now just back testing on the graphs.

Have a great day all.

@ passyson @toni kilabe and all

Hello guys.I didnt sleep well since jana cause i was witnessing the way the Dollar was pounding other currencies.Anyway the dollar i think is still on a good rebound since the Gustav level was put under control( i think @passyson we got it right ). The euro is just holding itself at the support level of 1.45 but i think it will still go under.Commodities are also feeling the pinch vibaya.

@tonicasert welcome home you were becoming extinct mzee. Hope things are good.

Still looking at the movements closely.Very optimistic of going long with USD/JPY for at least 20- 50 pips today.

@timber

I think what you have been briefed by colleagues is enough but i can add a few.You need to take time and practise well and have enough information which you can gain slowly with time.There are no short cuts if you want to be sustainable in the long run.
- You can start with babypips and then try to learn further with the market.
- Regarding the regulation you need to ensure the broker is well regulated with the N.F.A and C.F.T.C i think you will get his position and how sound he is.For us in kenya we are still looking of putting things in order with colleagues around here.
-For demo you can check with oanda it has simple and good platform to understand.

For returns is as you have been told.

Welcome in the market.Dont fear.We are all here to help another in case you have problem.

@NGAATU

@toni,@ngaatu

I realy appreciate for your briefing.Am now somehow focused and will look forward to have knowledge before trying to invest.There were guys who told me they could invest for me but were not trufthuly and transparent with the information which i got here.It is really helpful.Can you assist me with your personal mails so that i could contact when am in problems or need explanation.

Regards

Mchumia Juani hula Kivulini

@ dakiku Good for you!

@toni i think the GBP/USD has hit the third support level at around 1.7778 seems the fundamentals are strongly moving the cable( its economy fear is that its at its lowest since 1940's,amazing!!). I think you have hit it with 60 pips cause it went beyond 1.7800 to 1.7778but its now trying to go up at around 1.785. Thats a good move.

The pair of USD/CHF was amazing too today going long around 65 - 90 pips were in the offing.The market was pretty around good probabilities in estimation.

Looking at the comdolls now. @ passyson how are their movements??

@NGAATU