Forex anyone?
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03-05-2015, 12:49 PM
RE: Forex anyone?
(30-04-2015 05:31 AM)onlinebiker Wrote:  I trade all the time.....

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


Smile

Do you trade currencies? If so what strategy do you use?

8000 years before Jesus, the Egyptian god Horus said, "I am the way, the truth, the life."
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03-05-2015, 03:17 PM (This post was last modified: 03-05-2015 10:06 PM by Bucky Ball.)
RE: Forex anyone?
Yeah I do.
I only trade "high impact" news events, "in trend" when the news is a surprise. I trade Euro/Dollar, and Dollar/Yen. I put too much in a trade to not watch every second the trade is open. Usually these events happen on a Friday morning. They usually last about 10-12 minutes, (11 to be exact). That's all I have time for, (and it's all you need). My brothers taught me. If the 4 hour trend and the 30 minute RSI histogram cross the zero line, it's virtually certain to continue at least for a few minutes in your direction, if the 5 minute and 1 minute charts are ripe for a move. It's free money. I prefer to sell short, (as "fear is stronger than greed") and I never leave a trade open that I can't watch. Too many crazy news events can kill your trade. It spoils you though. I would never trade anything else now, having seen how slick this works. It moves. It moves fast, and has great leverage. I use two platforms. I guess the Metatrader4 is practical. If you have experience trading other things, especially options on days the indexes roll over to the new quarter, it helps a lot. The trading patterns are similar, but not exactly the same. In stock trading you can assume the move will "revisit" depending the time and day of the week. Currencies don't do that. They move, and it's over. Period. Many moves happen when Europe and Asia are open, (night here). No matter what happens, after the Friday US (markets) open, the entire world covers their short positions, and everything rises, and everyone goes home, by noon, in New York. I never fight the Friday short-covering rally. "Once and out" is my motto. A few trades per month is what I do.

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07-05-2015, 01:08 PM
RE: Forex anyone?
A few trades per month is where I seem to be heading and I'm not liking it. I wanna make decent money fast(er). My strategy is to trade the breakouts. Now the question is where to place the order so as not to be brought into the market by a false break. I've had that happen to me twice now and it's not cool. That means I need to place my order higher or lower if I'm going long or short respectively. News event are fun to trade if you get the right direction. I performed poorly because I thought all I needed to do was trade the news. But I didn't have the discipline to stay out the market on non-news events. So I'm working on a strategy that has a lot of potential. I'm also a swing trader so I don't have to watch my positions all the time. It used to be like that for me but I can't sustain that focus.

I mainly use MT4 mobile and trade most of my positions from my phone.

8000 years before Jesus, the Egyptian god Horus said, "I am the way, the truth, the life."
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07-05-2015, 01:54 PM
RE: Forex anyone?
(03-05-2015 12:49 PM)BlackMason Wrote:  
(30-04-2015 05:31 AM)onlinebiker Wrote:  I trade all the time.....

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


Smile

Do you trade currencies? If so what strategy do you use?

Trade currencies???

Sure...

Need change for a 20??


Big Grin

.......................................

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05-06-2015, 07:18 AM
RE: Forex anyone?
(07-05-2015 01:08 PM)BlackMason Wrote:  A few trades per month is where I seem to be heading and I'm not liking it. I wanna make decent money fast(er). My strategy is to trade the breakouts. Now the question is where to place the order so as not to be brought into the market by a false break. I've had that happen to me twice now and it's not cool. That means I need to place my order higher or lower if I'm going long or short respectively. News event are fun to trade if you get the right direction. I performed poorly because I thought all I needed to do was trade the news. But I didn't have the discipline to stay out the market on non-news events. So I'm working on a strategy that has a lot of potential. I'm also a swing trader so I don't have to watch my positions all the time. It used to be like that for me but I can't sustain that focus.

I mainly use MT4 mobile and trade most of my positions from my phone.

Look at the Euro/Dollar 11 minute period after the US employment data came out today. Perfectly predictable. Big move. More than "decent money" there, if done correctly. I actually hate losing more than I like winning, so I would never make a trade without an underlying "driver" (news or external political event). The Greek political situation hasn't really been reflected yet in the Euro this Summer, but who knows when it will happen. You can set up "alerts" in MT4. When it happens, "kaboom".

Insufferable know-it-all.Einstein God has a plan for us. Please stop screwing it up with your prayers.
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26-06-2015, 08:54 AM (This post was last modified: 26-06-2015 09:09 AM by Bucky Ball.)
RE: Forex anyone?
Under the "small things that make you smile" ...
This morning the Greek Prime Minister said he was "rejecting utimatums" and he rejected the bailout extension.

The Euro/$ did/is doing exactly what everyone knew would happen.

BanginBanginBanginBangin

Banana_zorroBanana_zorroBanana_zorroBanana_zorroBanana_zorro

Insufferable know-it-all.Einstein God has a plan for us. Please stop screwing it up with your prayers.
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26-06-2015, 09:49 AM
RE: Forex anyone?
I was planning to start a Forex trading website or two, but then retired. I still own a couple of good domains for it. I should sell them, not going to get into it now.

You gotta be careful with Forex so the gambling bug don't get you. If you are prone to addictions, it's probably smart to avoid Forex.

[Image: dobie.png]Science is the process we've designed to be responsible for generating our best guess as to what the fuck is going on. Girly Man
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05-07-2015, 09:34 PM
RE: Forex anyone?
Interesting I was coming here to ask this same question.
It's something I'm looking at getting into seeing as investing in the stock market costs $30 a trade which isn't viable for me when I only got like $500. I'm better at currencies compared to stocks anyway. I think I could do pretty good at Forex trading, I follow world events and have an above average understanding of how those events effect world markets and such. I've been following the AUS/NZ dollar for a while now anyway. Pity I didn't start when it was trading $1 for $1, could have made a bit of money off that.

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06-07-2015, 12:27 AM
RE: Forex anyone?
(29-04-2015 11:33 PM)BlackMason Wrote:  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?
I do what you do, more or less, except on the horses.

I started in 2003 and haven't done anything else since.

Yes, it was difficulty. It was the hardest thing that I have ever done done. I collapsed twice in one night and ended up in hospital with exhaustion because I was working flat out. I was working up to 20 hrs a day, day after day for months on end.

Someone mentioned that it was immoral.

In 2003, the company that I worked for went Bankrupt because of some stupid decisions they made.

I was at the wrong age to get another job but I tried anyways.

No one wanted me and I was thrown on the scrap heap of life. Now, that's immoral.

In the end, I had a choice, become a gambler/trader or go on welfare. Yes, there were lots of things I could have done, unfortunately, once you are over a certain age, no one wants to know you.

I hate what I do but it sure as hell pays the bills.

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06-07-2015, 01:28 AM
RE: Forex anyone?
Sorry for being MIA for all this time. How rude of me to leave you guys hanging.

(05-06-2015 07:18 AM)Bucky Ball Wrote:  Look at the Euro/Dollar 11 minute period after the US employment data came out today. Perfectly predictable. Big move. More than "decent money" there, if done correctly... The Greek political situation hasn't really been reflected yet in the Euro this Summer, but who knows when it will happen. You can set up "alerts" in MT4. When it happens, "kaboom".

Yeah that is decent money. However I prefer to stick to the dailies so I can get on with the rest of my day. Day trading for me feels too much like poker. If swinging (holding positions for at least 24 hours) doesn't work out then I'll most likely leave trading altogether. So far things have been good though. I've made some stupid mistakes like misinterpreting a signal but it's all part of the learning experience. The Greek situation is worrying me though. I just hope this doesn't create some financial crisis. Jesus, the world is still recovering from 2008!


(26-06-2015 09:49 AM)Dom Wrote:  I was planning to start a Forex trading website or two, but then retired. I still own a couple of good domains for it. I should sell them, not going to get into it now.

You gotta be careful with Forex so the gambling bug don't get you. If you are prone to addictions, it's probably smart to avoid Forex.

I got you loud and clear. The relationship between trader and broker is a strange one. The broker wants the trader to trade as frequently as possible so that he can make money off of commission and what not. It is in the trader's interest to not fall into that trap because no matter what the broker can't lose. Part of the reason why I trade the day charts is to slow down my trading activity. Naturally, signals take a longer time to emerge on he dailies which results in a slower trading frequency. I still get to be profitable though. Trading the markets is like a character building thing. My patience has improved because I wait for high probability trading opportunities to come by. This can be problematic since one feels like they have to be in the markets constantly. You have to fight the urge.

(05-07-2015 09:34 PM)earmuffs Wrote:  Interesting I was coming here to ask this same question.
It's something I'm looking at getting into seeing as investing in the stock market costs $30 a trade which isn't viable for me when I only got like $500. I'm better at currencies compared to stocks anyway. I think I could do pretty good at Forex trading, I follow world events and have an above average understanding of how those events effect world markets and such. I've been following the AUS/NZ dollar for a while now anyway. Pity I didn't start when it was trading $1 for $1, could have made a bit of money off that.

Dude, you totally have to check out anything that involves the NZD. It's been trending for a long time now. NZD/CHF (Swiss Franc) blew my mind when I saw all the missed opportunities with retrospective trading. If you got in when the Aussie was on par with the Kiwi you'd be balling outta control now.

8000 years before Jesus, the Egyptian god Horus said, "I am the way, the truth, the life."
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