Forex anyone?
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09-07-2015, 07:11 PM
RE: Forex anyone?
(07-07-2015 10:02 AM)earmuffs Wrote:  I'm playing shorter trades because Im new and just messing around (though after my first day of giving this a go I'm profitable so that's gotta be good right?).


NZD/USD, NZD/AUD and NZD/CHF.

I wouldn't touch the CHF with a ten foot pole. It's erratic as hell.

Insufferable know-it-all.Einstein God has a plan for us. Please stop screwing it up with your prayers.
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10-07-2015, 12:59 AM
RE: Forex anyone?
(09-07-2015 07:04 PM)Bucky Ball Wrote:  
(08-07-2015 12:28 AM)earmuffs Wrote:  What's a good platform?
FXCM trading Station is very nice though it doesn't show charts unless you click on it.

Then you don't have it configured the best. You can open as many windows as you like. When you close it, save your template, and the charts open automatically the next time. Up in the corner I make mine the "midnight black" option. Try it. All up moves I make green, downs as reds. All your charts you can set as templates, and open any new chart with your favorite indicators already set. I use CCI, a simple moving average, and MACD set to 12,26,and 9. I should shorten it to 7, but I'm too lazy. You can also fix it so when you change a currency pair, ALL your charts at various time frames change together. FXCM has really nice discounts and staff for active traders. So I really like them. I also use Metatrader-4. There are plusses for each, so I run them together, (you have to set the up as separate accounts, and get permission to open more than one at a time).

Are you sure about FXCM's deposit ? You should call them. I bet MT-4 doesn't have that deposit requirement.

Yea figured the charts bit out.

Yea, FXCM requires a large deposit (well, large IMO) but it wouldn't matter if it required a $1 deposit they don't take people from NZ. AVA Metatrader only requires $100.

Quote:I wouldn't touch the CHF with a ten foot pole. It's erratic as hell.

Yea I don't trade it often, I just traded it that time because the charts had the same pattern as the other NZD charts (the news must have effected the NZD).

In hindsight that was a dumb thing to do, could have just as easily lost 20pips on all 4 trades. You live you learn.


If you want a good pair to trade I'm finding the AUD/USD pair is great. the commission is low as hell, lower than EUR/USD, it hovers around 0.1-0.4, but mostly 0.2. Lots of great ups and downs too.
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11-07-2015, 05:19 PM (This post was last modified: 11-07-2015 05:30 PM by BlackMason.)
RE: Forex anyone?
(08-07-2015 11:09 PM)earmuffs Wrote:  Also I fucking love this shit. I wanna do this for a living, I would love to do this for a living. It includes my love of world news, money, the economy, politics and money. And combines it with variable scale, I can do it myself (as in I don't need to be an employee), I get out what I put in, IT'S BETTER THAN STOCKING SHELVES!, I could start tomorrow if I wanted, I don't need a $75,000 business loan. I've been focusing on this for the last couple days, I haven't touched a video game I actually wanna do this more than I wanna shot little 13 year old shits in the head (virtually of course..).
The thought has actually cross my mind that if I sold my xbox I woul have more money to invest. IF I SOLD MY XBOX! WHO AM I!! It's addicting, it's like crack but without the... no it's exactly like crack.

DO NOT SELL ANYTHING TO FUND YOUR ACCOUNT!!! I almost made that mistake back in February with my PS3. I would've lost every cent and the entire experience wouldn't have been worth it. First you must perfect your strategy. There's a useful heuristic I heard another trade use. He said he'll only switch to a live account once he's tripled his demo account. I think that's pretty good. With every trade you make there's something new you learn. It's all part of the learning curve. I just learned some useful things this week. I recommend you keep a journal where you can jot down any improvements or insights you gain. I break up my trades into life cycles: Entry, incubation and exit. Pen whatever you deem useful in those three stages to improve your performance in future trades.

My biggest problem now is when to take profits (exit). Remember my 60 grand profit trade? The markets closed lower two consecutive days and profit is now sitting at a low 31 grand. I prefer not to use profit limits and instead rely on trailing a stop. Shout out to all the swing traders in the builing. Hopefully when the market does reverse, if I've done things correctly, I should've secured profits. Currently I stand to lose another 4 grand in profits before I get stopped out for a 27 grand profit. I have a 200 pip life line though and I'm expecting the weekend gap to hit it Sad . That kinda sucks considering I was once at 60 grand. Taking profits is my problem phase and once I've mastered this area I'll be unstoppable.

(09-07-2015 07:11 PM)Bucky Ball Wrote:  I wouldn't touch the CHF with a ten foot pole. It's erratic as hell.

I'm actually circling Eur/Chf like a vulture. I'm anticipating it to start trending after the Greek issue gets resolved. Which direction? I don't know, I just hope I catch it before it gets too far. I've already missed some entries in Usd/Hkd (Hong Kong Dollar) and Cad/Jpy. That pisses me off because I don't get the frequency of trades in that I want to hone my skills since it take a very long time to get good set ups on the dailies. But I won't compromise. I will stick to my dailies.

8000 years before Jesus, the Egyptian god Horus said, "I am the way, the truth, the life."
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11-07-2015, 06:37 PM
RE: Forex anyone?
Quote:DO NOT SELL ANYTHING TO FUND YOUR ACCOUNT!!

Yea I'm not going too. I remembered Halo 5 and Fallout 4 are coming out soon so that squashed that idea of selling my precious.

Quote:There's a useful heuristic I heard another trade use. He said he'll only switch to a live account once he's tripled his demo account. I think that's pretty good. With every trade you make there's something new you learn. It's all part of the learning curve.

Yea that's exactly what I wanna do. Play demo accounts until my fingers go numb.

Quote:With every trade you make there's something new you learn. It's all part of the learning curve. I just learned some useful things this week. I recommend you keep a journal where you can jot down any improvements or insights you gain. I break up my trades into life cycles: Entry, incubation and exit. Pen whatever you deem useful in those three stages to improve your performance in future trades.

Already a head of you on that one.


We should have a competition some day. Start a new demo account, see who can make the most in a week or something. ><
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11-07-2015, 09:30 PM
RE: Forex anyone?
I've been reading up on forex, and I know that reading means nothing without futzing with a demo account. Right now, I'm looking at Metatrader 5. This thread has been a lot of help. Hopefully I'll learn what to look for in the news to get a feeling for the market.
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14-07-2015, 12:22 PM
RE: Forex anyone?
Yes, you need to combine the two. You gotta absorb information and then apply it. That's the trick right there. I wish someone would've told me that. Well, actually I don't think I would've listened because greed. I skipped over the whole learning phase and only spent 1 week on a demo because I wanted to take advantage of the quantitative easing the Euro zone is going through when it was announced in January. I turned 200 bucks into 1200 in 3 days. Then I lost half of it because when the markets opened again they reversed the whole goddamn day. All part of the learning.

8000 years before Jesus, the Egyptian god Horus said, "I am the way, the truth, the life."
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14-07-2015, 01:17 PM
Forex anyone?
I just wish there was more money in it. I can't afford a huge deposit, and making a little amount here and there isn't that helpful. I guess it's just how it goes.
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14-07-2015, 04:05 PM
Forex anyone?
I thought I had done really well, closing one at 23 pips and a other at 13. Then I realized they use more decimal places so it wasn't as good. Oops. Glad it's a demo account!
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14-07-2015, 10:22 PM
RE: Forex anyone?
Not sure if anyone mentioned it here so far, but you can't trade without at least being aware of the weeks "economic calendar". All the major economic news releases in the big currencies countries are set on a calendar .. the biggest market mover has traditionally been the US unemployment monthly data release on the Friday it comes out. Muffers, click on the "research" tab on the FXCM demo platform, and from there go to "calendar" Then use the GMT clock and adjust it to your time zone, then set the filter to show just the events from the pairs you trade. Then also filter out all but the medium and high impact news releases. You need to know when those events are happening, and either be out when they happen, or use the news release to make quick moves. They move dramatically, sometimes VERY dramatically especially if the news is a disappointment .... perfect time for a quick short (sell) trade.

Insufferable know-it-all.Einstein God has a plan for us. Please stop screwing it up with your prayers.
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15-07-2015, 10:38 AM (This post was last modified: 15-07-2015 10:51 AM by BlackMason.)
RE: Forex anyone?
I decided to show a snap shot from my phone of my legacy trade. I've never been this profitable before. I'm flipping my noodle here. 129 GRAND BOOM!!!! You guys can count the pips for me. I've held the USD/CAD for 2 weeks and 1 day. You can clearly see the prices I've entered and where they're at. ZAR is the currency we use in South Africa (South African Rand). I'm currently experiencing a pull back on USD/TRY as you can see. Yesterday it was nicely in profit at a combined 16-17 grand. Today it's misbehaving. EUR/CAD can suck my dick. I'm thinking of dropping it. Latest entries are at the top.

[Image: RwoTxqP.png]

All of this done from the comfort of my phone which I have with me always. I have the convenience of checking my account a few times throughout the day. I can live my life without obsessing about what price is doing. I sleep like a baby too. Just some of the benefits of being a swinger. Day traders take pips in the tens, swingers take in the thousands and investors... fuck investors. I'm pretty sure you guys though I was bullshitting so I was like fuck it I'll upload. This conversion effort is over!

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