Wazua
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Realities of Forex Investment
Rank: Veteran Joined: 5/24/2010 Posts: 846 Location: KENYA
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Been doing it demo 1 year and live 2 years.
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Rank: Member Joined: 5/31/2010 Posts: 325 Location: NAIROBI
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@merchant doing great, the last one week has been off the hook, the EURCAD,EURUSD,USDJPY,AUDUSD,CHFJPY,AUDCAD, have jst bn sooooo wow, n I gess we wl see alot frm the pairs ths week,wht do u thnk,by the way I hit over 900 pips on ths pairs Discipline & sticking to your strategy even when you loosing defines great traders.
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Rank: Member Joined: 5/27/2010 Posts: 324 Location: nrb
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Congrats @Merchant. Not many retailers survive fx for 2yrs
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Rank: Veteran Joined: 5/24/2010 Posts: 846 Location: KENYA
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fxtech wrote:@merchant doing great, the last one week has been off the hook, the EURCAD,EURUSD,USDJPY,AUDUSD,CHFJPY,AUDCAD, have jst bn sooooo wow, n I gess we wl see alot frm the pairs ths week,wht do u thnk,by the way I hit over 900 pips on ths pairs 900 PIPS! Thats insane! Maybe I should also trade on more pairs. If you are trading a live forex account, a standard one, you are in the money!!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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I also like AUDCAD and AUDNZD. But if there's a risk shock (and i expect one soon due to bad US econ data and red hot euro debt crisis) I'll reverse to the sell side since AUD is overbought to the bullish extremes and will likely fall the hardest. Just like JPY was overbought on bullish extremes before BoJ intervention. For now I'm hooked to the Aussie crosses. I would like to long the JPY crosses, but intervention of BoJ makes it murky for now regardless of the fact that they may assist on these trade setups. Other trade ideas are USDCHF which is about bearish extreme - contrarian play, but I want it to take out the 2008 lows before I can think of an entry (catching a falling knife can lead to margin calls, but the risk rewards can be outsize). These are weekly setups (could last 4-6 weeks). $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 5/31/2010 Posts: 325 Location: NAIROBI
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@hisah, we sailing in the same boat, very interesting turn of events am expecting esp frm AUD N JPY pairs, @merchant maybe n maybe not, u can try working outside ur usuall pairs bt test if it works 4 u coz it may backfire. gud opportunities on GBPUSD, GBPCHF Discipline & sticking to your strategy even when you loosing defines great traders.
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Rank: Veteran Joined: 5/24/2010 Posts: 846 Location: KENYA
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fxtech wrote:@hisah, we sailing in the same boat, very interesting turn of events am expecting esp frm AUD N JPY pairs, @merchant maybe n maybe not, u can try working outside ur usuall pairs bt test if it works 4 u coz it may backfire. gud opportunities on GBPUSD, GBPCHF @fxtech, Ill take the tip. Maybe Ill demo trade on some new pairs until I am sure I can add them to my basket without lowering the value.
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Rank: Member Joined: 5/31/2010 Posts: 325 Location: NAIROBI
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@merchant, pls do,letmeknw how it goes,hv look at USDCHF, CADJPY shorts, eurcad long, shld give u arnd 70pips Discipline & sticking to your strategy even when you loosing defines great traders.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Anyone aware that Ireland cancelled all the remaining bond auctions for 2010. The Euro has ignored this info, but for how long. I've taken a small size short on EURCAD @1.4020 since it failed to make a higher daily high and an overbought RSI. I'll ride it for a day or two - still bullish on the weekly so I make it a short trade. Took a larger short on AUDCAD on sharp rejection at parity level. This is the high for Sept and will be for a month or. two. Also the overbought slow stochastics plus RSI on the daily and weekly call for a large correction. GBPUSD also looks bearish on today's daily candle. But I'm not willing to play long $ now though the USDCHF looks like it will close higher today making a reversal after taking out the 2008 lows today. I'll wait for next week to confirm if indeed it's a true reversal then I can play my catching a falling knife reversal. Then the $ index also needs to regain the 81 handle to make it safe going long $ vs the other majors. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 5/31/2010 Posts: 325 Location: NAIROBI
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@hisah insightful details ryt there, i'm also shocked by the EUR bt 2dy will be testing day EURUSD, anythng on gbpchf, shorts luks lyk it 4 th day Discipline & sticking to your strategy even when you loosing defines great traders.
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Wazua
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Realities of Forex Investment
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