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Baseer... :)
I play based on the M15 main chart but I trade by the ticker (ie. Market Watch on MT4).
It was just my luck that I rode that 100+ pips up yesterday on the USD/JPY pair.
No special techniques, but when I saw it rocketing vertically up, I knew it has to be some news, so I rode it up 'manually' (by live observation, not with set target).
Like Elfin said so deliciously... I keep things simple, though one can also adopt a host of indicators to
tackle the market.
Since I love pinball, (especially multi-ball pinball), I naturally love the short-term play fx gives, which demands lightning swift moves.... it's a different ball-game from stocks... 
elfinchilde : thank you very much for ur clarification of yesterday's UJ's surge.
since u are 'specialising' on UJ , i am sure all of us would like to hear ur 'take' on the pair's 'salient features'/ 'personality' .. are u only focusing on the 1min 5min charts for ur 'hunts' ?... what indictaors or patterns work for UJ ? ....
: )
Thank you scotty ... still a bit slow ... but a bit better now that I have cleared the cache ...can get the formatting bar .. switched to mozilla and still the about the same .. hope it will get better tomorrow ... : )
Mine's ok. Maybe it is your browser.
Try clearing the cache and restarting your browser.
baseerahmed ( Date: 04-Jun-2008 22:38) Posted:
| Admin
Is it my computer or others are facing the same problem.
The 'Post' box loads very slowly ...
The Formatting bars are missing ..
??
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Admin
Is it my computer or others are facing the same problem.
The 'Post' box loads very slowly ...
The Formatting bars are missing ..
??
yes, forex is based on margin.
what's considered safe? it's about prudent money management, really. never risk more than you can afford.
what i've learnt is this: it's entirely possible to make a daily, stable income with forex, but you need a lot of patience, and discipline. You can't keep entering trades (overplaying) or betting. That's just gambling. And technical skills is a must.
not all charts will work for all pairs. so you need to know your pair very well. And key your technicals. Keep an open mind and learn from everyone; there are some good people here on this forum. :)
Have just started out in forex myself, but have been in equities for abt 10 years.
All in all, i'm finding that i like forex better, because i'm a techie by nature; and forex works better with charts: less liable to BB manipulation than stocks. Especially because the Spore market is currently on low volume, so it's not good for retail players; too susceptible to BB swings.
cashiertan and tabbykat could probably advise you on which platform to use. FXCM and metatrader seem to be popular with the crowd here. i use a different one tho.
oh, and remember the KISS rule above all: Keep It Simple, Stupid.
elfie only plays the UJ pair. ;)
hey guys, i'm totally new to forex trading. for a starter like me, which platform is the most user friendly? where can i get more information?
isn't forex trading based on margins? is it safe?
btw, a bit belated, but thanks cashiertan for recommending that i look at forex. having great fun with it, still early days for me, but i see its potential as a consistent and stable source of income. :)
an open mind aids learning more.
those playing the UJ pair, be careful tonight. market consolidating in the previous day's pivot point of 10454. so a break will send down to previous levels test of 10376, an up is a test of 10523.
baseer. it was possible to catch that 130-150 pip swing; if you had positioned for the news via the 1 or 2 min chart, and ride it upward all the way. would take nerves though. otherwise, it was a news release event: no real signs, except that it was at the positioning pivot and could go either way then. in fact, technicals had pointed more for a down.
what was better was to take the ride down. it maxed out at 10555 or so; near the peak of the previous high. all signals overbought then. that was a more technical event: the ride down to about 10490 and back to pivot range.
watch for repositioning of the pivot range with tonight's news.
major news are out; it's good, but the DJIA looks down likely. good news priced in prior, so it's a sell on news strategy (talking abt equities)
hi ! iPunter : )
can't contain the curiosity :
145pips in 15min ... did u play it based on "Bernanke - strong dollar" news or was it the charts ..?
if it is the charts ..what were the tell-tale signs ..?
this question is all in the name of learning and sharing ...
thanks
Journal of Paper Trade USDJPY by a novice.
*caveat emptor * for educational purposes only * not an inducement * caveat emptor
http://172.31.254.245/img2.freeimagehosting.nett/uploads/c3a51bf417.jpg
Those who love pinball will also love to trade the M5 charts when there's much time to spare...
But keying in and letting it happen while one goes shopping is also a great way to play...
Last night when USD/Y 'chionged', made 145 pips within 15 minutes...
Journal of Paper Trade GBPUSD by a novice.
*caveat emptor * for educational purposes only * not an inducement * caveat emptor
http://172.31.254.245/img2.freeimagehosting.nett/uploads/a2f6b52a79.jpg
Journal of Paper Trade USDJPY by a novice.
*caveat emptor * for educational purposes only * not an inducement * caveat emptor
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* Alert Admin
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Hi Mani,
Wow 30K!
I only started with 1k as a beginner. Size does matter. Ask Cashier.
With
this 1k, I netted about $140 per week. ie $560 a month. If I have $30k,
it would approximately be $16800 a month. However, if I have 30k, I
would still start with 1 mini lot and slowly build up to 1 standard lot
when my skill improve.
In her book, Toni Turner wrote "the stock market crash of
2000 sent equity traders scampering to find new trading products.
That's one reason global currency markets, also known as fores, has
enjoyed a newfound popularity among traders."
I guess now is the time for me stay away from equity and trade Forex. Dow is erractic and I often got burned.
Try it. Practice trading with 1 mini lot. Earn money while learning.
I
use ebook Master Trader and Forex Freedom for money manager strategies.
Coupled with Dynamic TNT's technical strategies. Key in my trade, key
in my stop level and key in my profit target then go to sleep. Next
morning, richer by hundred plus. KISS.
Cheers
Actual performance of one of my student who exceeded me in performance. What i wanna make know is the BOLD and highlighted statement as abv. stocks are not as easy to trade since Aug last year as it is in consolidation mode.
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LOL i just recieved a PM from a forumer that has REFUNDED ALL the ebooks which he buy from Ipunter recommendation. I forgot to say that some of the ebooks can seek refund.
Refund if you have buy any crap ebook from ipunter...
I never once said i got invincible trading skills never once. i even posted my losses openly so dun put words in my mouth. TY.
Trading is not abt invincible as no one can gurantee 100% winnings. it is abt making more than you lost overall that matters.
When i write ebooks, i will give it for free or donate all the proceeds to charity. Dun worry i will still pay you your comm for selling the ebook for you will need it for your sole pension income.
Dear all,
Cont'd from last thread: Also it seem bad habits from previous trading experiences hinder my students' forex trading as compared to those who started as clean sheet or little experiences. Hence my suggestion for those who wanna learn forex trading to 1st "unlearned" your non-relevant stocks trading experience or at least be open minded about new techniques and keep to the plan as required by the new forex trading plan.
oh yes from biosensor threads,
FYI Ipunter, it seem you only 50's plus but memory is failing fast, as posted, My forex friends areadi reached or exceed their million dollar liao as of this year or last year. thanks for your concern, I exceeed my half way mark to million dollar as of last month. oh yes my friends are around age. 20s to early 30s.
Also, age is nothing in Trading. It is all fair and square in trading environment. even PSLE non-graduate also can make money in trading if he can make it. So, your age and "multi-decades experiences" are of no matters to me at all. I see lots of old man and womans trading since 80s still slogging out at Securities firms trying to make their dream there. Ipunter, i think maybe you are like one of them. good luck to your dreams.
Sear all,
Under my current training wings i areadi have a few old ages ones and young guys in early twenties. from my observations, young guys are trading better than the older ones. it seem "experiences" and "ego" of the older ones are a hinder in their reprogramming process. those with little and no experience in prior tradings performed much better than ones who does. characters and focus counts alot too.
Ipunter,
Dun worry will sure send it to you to sell since you like to sell ebooks mah, must help you make a living from selling ebooks. heard u 50+ yrs old areadi, no $ to retire is very sad de. Maybe you can be a millionaire selling crappy ebooks online. wish you luck.
From the response from the crowd is not bad, will select 3 of them to send soon.
