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Realities of Forex Investment
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shrewdinvestor
#3101 Posted : Thursday, February 12, 2015 11:37:14 AM
Rank: Member

Joined: 9/12/2014
Posts: 120
Location: Nyali
@Hisah,
Thank you very much sir,i really appreciate and words alone are not enough to express my gratitude.I am for the time being in Kenya and trying to adjust to the time zone here.Otherwise,would you be kind enough to share your mail on this platform?If not kindly get in touch with me on murithitheshepherd@gmail.com Once again your advise is priceless and can not wait to be a guru like you!!
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shrewdinvestor
#3102 Posted : Thursday, February 12, 2015 11:42:22 AM
Rank: Member

Joined: 9/12/2014
Posts: 120
Location: Nyali
@Hisah...Here is a site i think will help you see what i mean by copy trading;
Analyze it and then advise me accordingly;
https://www.mql5.com/en
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Ceinz
#3103 Posted : Monday, February 16, 2015 8:57:50 AM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
Ceinz wrote:
hisah wrote:
Why The Yen Run Will End in Tears


Quote:
'..the currency market’s reaction to even a hint that the BoJ is losing support for its expansiveness could be huge. While the door is open for the USDJPY to reach 124 and perhaps 135 within the next 12 months, the reaction to the other side could be violent.
JPY monthly charts

As a reminder, here’s what happened on the USDJPY in 1998. The pair dropped over 20 big figures in a matter of days


Indeed, reminds me of 2010/2011 when BOJ was hopelessly fighting off the yen bulls. As a matter of fact the yen long term trend is bullish and we are currently on a pullback, that can floor anywhere between current levels and 125.


Ceinz wrote:

The next culprit will be the Yen. BOJ will soon have to throw in the towel in its perennial devaluation of this baby and let the market take its place.


Finally UJ showing signs of weakness. A close below 115, should see this baby plummet to the 105 levels.
“small step for man”
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Sufficiently Philanga....thropic
#3104 Posted : Monday, February 16, 2015 11:16:55 AM
Rank: Elder

Joined: 9/23/2010
Posts: 2,225
Location: Sundowner,Amboseli
hisah wrote:
shrewdinvestor wrote:
@Hisah and other venerated wazua veterans..I am now officially in forex investment and learning the ropes pole pole..what is your advice for a novice like me....best broker and reasonable amount to begin with.

Since the swiss national bank crashed the euro peg vs swiss franc some brokers went bust. It's a bit murky now to discern the retail brokers that are indeed fit after that liquidity shock.

I'm still in shock that alpari uk went bust. Another big broker - fxcm had to be bailed out. Read about this storm to gauge your risk.

For beginners my picks are fxpro and alpari (though now its bust). Open a demo account so that you test their service. Then open a micro live account so that you test with say $100 to feel the real market. Take your time to learn the market. The longer the better so that you test many scenarios to fine tune your trading plan. Fx is volatile so risks are high. For a large account > $10K my preference is saxobank.

While learning fx, not to take a trade ('sitting on your hands') is the most difficult skill to master. This is because it's difficult to control your emotion. Another important skill that one must master.

Next important thing is risk management. Risk around 5% of your capital as a trade position to minimize huge losses coz of leverage. Read about margin call.

The other thing you need to be aware of is the market is manipulated. Over time you start seeing the patterns (false moves) especially during news events and market cross open (fix windows) i.e. Asia close/Europe open or Europe close/US open or US close/Asia open.


Nobody likes taking losses, but for beginners I prefer they experience losses in order to face their emotions barrier. Then risk management kicks in. Once you learn how to manage losses, profits start adding up.

Such an anti-climax after such a great 2014.E$,GU,UJ were such winning pairs,well except GU during the scots referendum. i had an account with them which i used to trade GU. Currently looking for another broker to add to Dukascopy.
@SufficientlyP
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shadowinvestor
#3105 Posted : Friday, February 27, 2015 7:36:53 PM
Rank: Member

Joined: 1/13/2012
Posts: 139
Hey,

Anyone using Heikin Ashi charting tools to identify and ride trends?
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mnandii
#3106 Posted : Wednesday, March 04, 2015 7:29:45 AM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
shadowinvestor wrote:
Hey,

Anyone using Heikin Ashi charting tools to identify and ride trends?


I use Elliott Waves. smile
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#3107 Posted : Wednesday, March 04, 2015 7:32:56 AM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
Buy E$; Sell Gold.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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mnandii
#3108 Posted : Wednesday, March 04, 2015 7:35:15 AM
Rank: Elder

Joined: 10/11/2006
Posts: 2,304
Ceinz wrote:
Ceinz wrote:
hisah wrote:
Why The Yen Run Will End in Tears


Quote:
'..the currency market’s reaction to even a hint that the BoJ is losing support for its expansiveness could be huge. While the door is open for the USDJPY to reach 124 and perhaps 135 within the next 12 months, the reaction to the other side could be violent.
JPY monthly charts

As a reminder, here’s what happened on the USDJPY in 1998. The pair dropped over 20 big figures in a matter of days


Indeed, reminds me of 2010/2011 when BOJ was hopelessly fighting off the yen bulls. As a matter of fact the yen long term trend is bullish and we are currently on a pullback, that can floor anywhere between current levels and 125.


Ceinz wrote:

The next culprit will be the Yen. BOJ will soon have to throw in the towel in its perennial devaluation of this baby and let the market take its place.


Finally UJ showing signs of weakness. A close below 115, should see this baby plummet to the 105 levels.




$JPY in a triangle formation. A fallback to 117.40 then a rally above 122 likely very soon.
Conventional thinkers waste time building shelters when they are unnecessary and then have no shelters when they need them the most. Socionomists do the opposite.
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Ceinz
#3109 Posted : Thursday, March 05, 2015 1:19:27 PM
Rank: Veteran

Joined: 5/7/2009
Posts: 1,032
Location: Sea of Transquility
New MT4 mobile for Android has been released.

A new MT4 mobile platform for Android has been released and is already available at Google Play. According to Metaquotes Corp, the new updated platform has better features then the previous versions and customers are encourage to update the terminal.
“small step for man”
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hisah
#3110 Posted : Friday, March 06, 2015 5:25:43 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
USDJPY testing critical resistance @120.80. Break above will likely target 125.

USDCHF testing 78.2% fibo retracement post SNB peg shellshock. Looking poised to retrace the entire selloff!!
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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  | | Edit by user: Friday, March 06, 2015 5:34 PM | Reason: Not specified
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