Forex anyone?
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29-04-2015, 11:33 PM
Forex anyone?
Just putting my feelers out. Does anyone here trade? I sorta do. I wiped out my account so I'm back to the drawing board working on a new strategy (demo account). I've decided to get back on the horse after abstaining for approximately 2 months. My new strategy seems to be working so far. I've only performed 4 trades using it. The first was a smash hit. I made 13 grand in just under 36 hours. Part of my new strategy is holding positions open for at least 24 hours. I've had the most success trading EUR/USD.

I've currently got my 3rd and 4th trial active right now. The EUR/USD is sitting in the profit side by about 8 grand last time I checked. At one stage last night it was at 14 grand. The other trade is AUD/JPY. The Aussie is pretty volatile. I cut my position from yesterday too early because I'd be sitting pretty in profit if I'd held it until now. This is why I wanna hold positions for longer periods of time. It's damn frustrating realising that your hunch was right but you gave up too soon.

Anyway does anyone have any experience doing this stuff?

8000 years before Jesus, the Egyptian god Horus said, "I am the way, the truth, the life."
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29-04-2015, 11:42 PM
RE: Forex anyone?
Nope.

It's immoral.

Angel

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29-04-2015, 11:51 PM
RE: Forex anyone?
(29-04-2015 11:42 PM)DLJ Wrote:  Nope.

It's immoral.

Angel

I do have conflicting opinions on that sentiment. I can make more money in a few hours than what some can make in an entire month. They sacrifice, break their backs, sweat and bleed for their money. Without so much as getting my arse off the couch, I can out earn them 100 to 1 in less than a week. Maybe unethical is more the appropriate fit, but certainly not immoral.

8000 years before Jesus, the Egyptian god Horus said, "I am the way, the truth, the life."
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30-04-2015, 12:01 AM
RE: Forex anyone?
What the hell is it?
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30-04-2015, 12:17 AM (This post was last modified: 30-04-2015 12:20 AM by BlackMason.)
RE: Forex anyone?
What is forex? It's foreign currency exchange. It's the biggest securities market in the world with around 5 trillion USD exchanging hands on a daily basis. It's the most liquid market in the world. Liquidity refers to the ability to find a buyer when you're selling or a seller when you're buying. In forex that happens virtually instantly regardless of the current market price for the currency pair.

The objective is not to take receipt of the underlying instrument. In this case it's currency. You can buy or sell without actually owning the underlying instrument. Pretty much we're betting on the price. Ever heard of people making money whether the markets go up or down? This is that. If you say the market is going to go down and it does, you make money by how much it went down. If the market goes up you lose because you said down. So it doesn't matter which direction the market goes so long as you call it right. That's the crash course.

It's sophisticated gambling with a positive expected value if you know what you're doing. What more can I say?

8000 years before Jesus, the Egyptian god Horus said, "I am the way, the truth, the life."
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30-04-2015, 12:23 AM
RE: Forex anyone?
(30-04-2015 12:17 AM)BlackMason Wrote:  What is forex? It's foreign currency exchange. It's the biggest securities market in the world with around 5 trillion USD exchanging hands on a daily basis. It's the most liquid market in the world. Liquidity refers to the ability to find a buyer when you're selling or a seller when you're buying. In forex that happens virtually instantly regardless of the current market price for the currency pair.

The objective is not to take receipt of the underlying instrument. In this case it's currency. You can buy or sell without actually owning the underlying instrument. Pretty much we're betting on the price. Ever heard of people making money whether the markets go up or down? This is that. If you say the market is going to go down and it does, you make money by how much it went down. If the market goes up you lose because you said down. So it doesn't matter which direction the market goes so long as you call it right. That's the crash course.

It's sophisticated gambling with a positive expected value if you know what you're doing. What more can I say?

Ok I think I get it.
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30-04-2015, 05:31 AM
RE: Forex anyone?
I trade all the time.....

I'm currently looking to off a good riding lawn mower for a high powered snowblower....


Smile

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The difference between prayer and masturbation - is when a guy is through masturbating - he has something to show for his efforts.
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30-04-2015, 07:54 AM
RE: Forex anyone?
Are you working from any kind of fundamentals analysis?

Give me your argument in the form of a published paper, and then we can start to talk.
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30-04-2015, 09:12 AM
RE: Forex anyone?
(30-04-2015 07:54 AM)Hafnof Wrote:  Are you working from any kind of fundamentals analysis?

Yes, I am. I've got an exponential moving average with a 20 count as well as a RSI with a 14 count. To be honest I barely trade off indicators. 99% of my decisions are based off of pure, good ol' fashion price action. I also pay close attention to support and resistance.

I wasn't doing this before. I was using indicators mainly and trend analysis. Now I'm virtually off indicators and my reliance on trend is somewhat diminished.

Like I said earlier, I've executed 4 trades and I've amassed a total profit of $41,380.55. Unfortunately this is a demo account Sad.

Trade 1: EUR/USD, 1 lot, long, 1.08629 - 1.09745, +$13,227.06.
Closed 29th after approximately 36 hours. Didn't reach my profit limit so I just took my money and ran.

Trade 2: AUD/USD, 1 lot, short, 0.80010 - 0.80265, -$3,007.27.
Closed 29th after I convinced myself that it was a poorly analysed trade. Closed approximately after 2 hours.

Trade 3: AUD/CHF, 1 lot, short, 0.75062 - 0.74089, +$12,276.89.
Closed 30th after approximately 11 hours. Came close to my profit limit but again I got anti touch down fever. What's a guy to do when you've got goal in range? Kick for poles and get the fucking points. Going for six is too risky.

Trade 4: EUR/USD, 1 lot, long, 1.10474 - 1.12095, +$19,101.70.
Closed 30th after around 12 hours. I specifically remember my touch down line was 1.12599. Again I was deep in attacking half and I got pussy weak to stomach the risk for 6. Nigga had to take the 3 points man. This money shit crazy man. Got you changing game plans mid game and shit.

Either way 41 grand is phenominal but unrealistic for me. My real account is a micro account. The demo is mandatory standard account. You can still choose your leverage structure. I go with a 1:500. Warren Buffet uses a fucking 1:1!!!! What a beast!!! If this was my micro account my profits would only be $413.81. One day I'll have a standard account though when I've earned my stripes.

8000 years before Jesus, the Egyptian god Horus said, "I am the way, the truth, the life."
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30-04-2015, 09:55 AM
RE: Forex anyone?
I don't trade forex myself. I don't trade on technical analysis at all. I'm after fundamental value and long term holdings. To me day trading is a risky affair: OK for banks and large organisations with proven algorithms, fast trading capability and deep pockets, but not for the ordinary person making decisions and trades at human speed with human bias.

Give me your argument in the form of a published paper, and then we can start to talk.
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