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Realities of Forex Investment
The Merchant
#481 Posted : Wednesday, September 29, 2010 1:01:48 PM
Rank: Veteran

Joined: 5/24/2010
Posts: 846
Location: KENYA
Been doing it demo 1 year and live 2 years.
fxtech
#482 Posted : Wednesday, September 29, 2010 2:24:37 PM
Rank: Member

Joined: 5/31/2010
Posts: 325
Location: NAIROBI
@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.
alikujia
#483 Posted : Wednesday, September 29, 2010 4:20:30 PM
Rank: Member

Joined: 5/27/2010
Posts: 324
Location: nrb
Congrats @Merchant. Not many retailers survive fx for 2yrs
The Merchant
#484 Posted : Wednesday, September 29, 2010 6:02:30 PM
Rank: Veteran

Joined: 5/24/2010
Posts: 846
Location: KENYA
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!! Applause Applause
hisah
#485 Posted : Wednesday, September 29, 2010 6:38:43 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
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!
fxtech
#486 Posted : Thursday, September 30, 2010 1:36:29 PM
Rank: Member

Joined: 5/31/2010
Posts: 325
Location: NAIROBI
@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.
The Merchant
#487 Posted : Thursday, September 30, 2010 2:57:49 PM
Rank: Veteran

Joined: 5/24/2010
Posts: 846
Location: KENYA
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.
fxtech
#488 Posted : Thursday, September 30, 2010 3:57:08 PM
Rank: Member

Joined: 5/31/2010
Posts: 325
Location: NAIROBI
@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.
hisah
#489 Posted : Friday, October 01, 2010 12:24:48 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
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!
fxtech
#490 Posted : Friday, October 01, 2010 10:35:44 AM
Rank: Member

Joined: 5/31/2010
Posts: 325
Location: NAIROBI
@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.
396 Pages«<4748495051>»
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