@all
Guys i think what you are sharing here is a very good gesture towards developing the forex market in kenya. With good advice which i put it into consideration i have suspended the naivasha trip and concentrate on the market.Hata jana na leo nimepata another 45 pips and i scalped with so i think i will make Ksh 120k this week God willing,and pump it to increase the lot size in future cause i am imagining if my lot size would be with pip value of $20!!

What i want to tell all guys around is that you need information and be ready to be an explorer in looking for information and tactics there are no short cuts.Am feeling pity for people who are skeptical and i understand its because they have only hearsay and maybe they are trained by "teachers" who themselves cant predict.I am working partime and its because i had a loan i took but by end of this month will be alone making my losses and profits. I think this month i will make my salary for 6 months!! And i am trading with only $6000 in my live account.I partly financed it with the loan i took; do not try this it needs guts as you may have losses kabisa.

@toni and @ngaatu continue to encourage guys by giving them facts and good direction we need development and i am telling all guys around here there are avenues to exploit and this is it,but you need knowledge and skills as told earlier by the guys.
- from my experience there is no short cut so anyone who says fundamentals are not realistic is just himself not telling the truth,as much as technicals are good fundamentals are critical.So dont go and buy systems,i bought mine called FOREXKILLER very expensive and it dissapointed me in the long run.

What i want to caution everyone there is that look at dudes who are realistic but dont be duped by guys who have big plush offices but give you wrong information which you wont notice in the short run.Look for guys who have facts and i beleive these guys here in this forum have facts and sense in the market.

For God sake we are not living on planet mars like aliens communicating on air,when are we going to meet and know each other.Am really looking forward to meet and have forex club here in kenya.
Hey @kilabe @ngaatu@passyson@tonicasert @ mtibe and all we need a club and regulation.

Tumia akili na ujuzi kupata pesa.

Perseverance and right information and tactics = tons of $$$

@timber

In my opinion i think there is a distinct difference between trading on fundamentals and trading on news.Although a person may try to link them together the difference is still there and big.Trading on news means mostly waiting for a particular news to be announced and if it turns out to be positive/negative you go long or short as you anticipate there will be strong movement. The dangers arising is that the spreads will be adjusted by the brokers and this will eat your returns and the major problem is that if other news also rises then the movement can be reversed and you will be in trouble and losses.For those who anticipate correctly then better for them but thats why it is termed risky.
What you need to understand is what is news?News is not hearsay news are economic data so they are issued to specify a particular direction of the currency.

Regarding trading on fundamentals its different in that fundamentals first are economic data as said above in the news and even the technicals give their shape of direction upon being directed by fundamentals which are the economic data of the countries or any event which may have implication to the currencies. The difference is that in fundamentals you don't wait for the news or the data to be announced to take a position?? no. Reading with fundamentals is looking for the strengths of the economic data to be released and do analysis and even comparison with your technicals way before it is announced and then after gathering enough information you take a position.
- An advantage is that if there will be any changes in the market you will get time to analyze and notice it and where possible change direction if its indicating strongly.
So when the data is announced you would have already taken a position earlier and this is not hearsay its economic data!! Here when a guy tells me he thinks of 50pips long/short he just looks at the upcoming events and if a position is taken then the probability that it will be around that range is high and if it goes against it will be around certain figure then maybe bounce back again. The probabilities are made after proper analysis here in which if you have noticed they have been getting the targets of what we are sharing.Its not guessed but analyzed.

I think my colleagues @passyson @toni @kilabe e.t.c may have their part to add. But i think you can see the difference now

@NGAATU

Good morning fellow traders...

Review of yesterday...i left my positions trading last evening and when i came back,my S/L were hit on both occasions...realised that traders were position trading in preparation for the ECB and BoE rate decisions today. Anyway to cut a long story short,i minimized my losses for the evening by going long EUR/USD. All in all,my NY session gave me some losses.

Today...i went short on the AUD/USD pair after the lousy trade balance report and exited with some good profits.

Outlook for today...i am currently short NZD/JPY and will also short the GBP/USD after the rates decision (if they remain unchanged @ 5% or if they are cut). I would expect a trend of GBP/USD if they remain unchanged as generally,the USD economy is coming out of the doldrums compared with HM economy. The ECB decision @ 13:45 will be a tricky one especially if they leave the rates unchanged...i say tricky because Trichet's post-release interview @ 14:30 will highly set the tone for either shorting EUR/USD or going long on the pair. I would suggest a wait-and-see approach after the initial post-Trichet press conference wave. I will actually enter the EUR/USD position at 16:00 hrs (with the NY session)....

Happy trading all!


Anyone who lives within their means suffers from a lack of imagination

I have been having a look at the monthly charts and i see that the NZD has been losing against the Yen...same case with the weekly charts. I am trying a new sort of trading and i am giving the monthly trading a go...therefore,i have decided to short NZD/JPY for this month...will keep you updated.

Anyone who lives within their means suffers from a lack of imagination

Morning all,

My stops on AUD/USD and GBP/USD also hit. On the sidelines watching to see the direction after the rate decision,though they're highly expected to be unchanged.

@Passyon.

Any fundamental relation you are having on NZDJPY or just technical trades?

GL and GT