Forex April-May 2017

Question

Would like to get in 2-4 trades a month(more if we get swings)..actually made a small trade today bought lb/jpy when it bounced off the 200 SMA on the daily chart,not normally something id trade but i was up at 4am and this was something i liked chart wise.
I will be using same chart setup i had before DMI indicator,50,100,200 SMAs,stochastics and RSI indicators.
Having issues with my edge 7 getting on the investment forum??When i click all forums the page is blank,no problem at all with my note 3 which im using to post.Maybe Wall has some tips for me on this.

bucknuts · Answer

Would like to get in 2-4 trades a month(more if we get swings)..actually made a small trade today bought lb/jpy when it bounced off the 200 SMA on the daily chart,not normally something id trade but i was up at 4am and this was something i liked chart wise.
I will be using same chart setup i had before DMI indicator,50,100,200 SMAs,stochastics and RSI indicators.
Having issues with my edge 7 getting on the investment forum??When i click all forums the page is blank,no problem at all with my note 3 which im using to post.Maybe Wall has some tips for me on this.

bucknuts · Answer

I think all the pair continue their direction up into our trading day tomorrow.Im gonna sell $/Cad here 1.3390  Target 50-100 pips no limit set if she slips ill take more pips

avenue · Answer

bol with your bets pal

Slobbasaurus · Answer

Any sites you can recommend so I can learn and understand Forex?

wallstreetcappers · Answer

The whole game has turned upside down since we were more active, the dynamic has changed..

Who would have thought the lb/yen drops this much and the USD would be so strong?

I think longer term the LB is a buy, especially close to after the divorce happens...I think it will be a strong trade long term if the vig is positive on the pair you pick.

bucknuts · Answer

Slob open a practice account at FXCM..it free and you can trade in real time.
Wall i agree on the LB long position getting in at the right time will be a money maker.
My open trade hasnt moved much,i dont think she goes all that far against me but only time will tell,i like my entry point but had i waited 20 mins i couldve had 1.34 flat,no biggie only 10 pips.
You gonna trade or still trading Wall?

bucknuts · Answer

Slob for info and trading basic check out babypips.com and forexchurch.com lots of good info on those sites

wallstreetcappers · Answer

Buck,After FCXM changed their rules I thought it was not worth doing business with them and I pulled my money out...they raised margin requirements and were/are teetering.I am not trading as of now, I cannot find a broker that gives smart spreads, allows quick money transfer in and out and does not have bad margin rules...AND is for a US customer.So what are you using that fits this list?

bucknuts · Answer

Wall i dont think there are any US friendly brokers out there,but thats not their fault.I am with FXCM,mainly because of the lack of options.I have pulled my cash out of all the stocks i was in...just not sure how much run is left.I did rather well in two stocks over the last year and half and im just gonna protect those profits for now.
Im not thrilled with the changes theyve made but i dont trust keeping my money where it was.

Slobbasaurus · Answer

Thanks Buck

bucknuts · Answer

Sorry i chopped up my post up above..i was with fxcm because of the lack of options.I ended up closing out of all stocks in late January and trade thru TD Ameritrade..its where i had my stocks anyway.

bucknuts · Answer

Wall open an account with TD even if just a practice and check out the think or swim platform..its decent.I seem to remember somebody commenting on it before,might have even been you..been a long time.Mobile not great but im not concerned with that.

wallstreetcappers · Answer

TD has me quite spooked for a few reasons...years ago I got royally beat up by them on a stock trade, my computer refused to enter an order so I called in and was told by a trader that I could not place it even though I should have been able.I took my case to the NASD and Ameritrade "lost" the recording of the conversation...yeah right. So I ended up settling rather than flying to NY for a trial against TD. Since then I have not done any business with them, but I will see what I can find out about their platform. I am wagering that their pair offerings will be light, they wont offer commodities and their spreads will be wide, margin rules bad and difficult not timely deposit and WD options.Man I miss the good ole days of being able to deposit online and within MINUTES the funds were there, not some 3 day bullcrap and headaches.

bucknuts · Answer

Yeah things have changed a bit lol.TD isnt great spread wise...im gonna have to take a look at Oanda again myself and try to figure out what the spread difference and commission at TD will cost me long term.Its prob worth making the switch to be honest,plus the wife wont be able to check in on my trades :),your story is frightening as well.I just didnt want to go thru the process of moving the money around.Laziness cant trump profit though.I couldve scampered off with 40 pips or so today but i think this can drop to upper 1.32s.I prob entered a day early had i waited i couldve easily had 1.3440s just didnt see it coming on my setup,i really liked it to slip lower than it did today.

bucknuts · Answer

Took a few days but shes giving in a bit finally..rise in crude maybe the extra nudge it needed after a mixed bag of data at the tail end of last week.Ibhavent pulled the trigger just yet lookn at about +75 pips but only $540 ish in this pair.
I think this drops a bit more got my eye on 1.3290s as possible exit.
Wall any thoughts on the chart?

wallstreetcappers · Answer

Well the chart is only one consideration of course..

To me if you are trading the USD long or short the macro matters more than the chart.

So fear with this Syria/Russia/China stuff means the USD will drop vs the Yen but might rise vs the others...

Crude going up is positive for the Canadian Dollar so your short would benefit..but if Trump does more stupid things then the dollar should be stronger against most others but the Yen and maybe the Franc..

bucknuts · Answer

Going to buy a lot of LB/JPY here 136.66..setting target for 137..i might even just scalp 15 pups or something here since Cad wont give in.
I wil get out out of $/Cad if it keeps pushing higher 1.3331 now.I will be up and watching late tonight

bucknuts · Answer

Out of LB/JPY &#x2B;$300

bucknuts · Answer

I watched LB/JPY fight with 137 and a min after i get out it rips thru..SMH

bucknuts · Answer

Out of $/Cad we will call it &#x2B;$550.i still like this to fall but we got rate decision tomorrow and theres no way ill be up early enough for that,i believe its at 10am??I jumped out of pound a bit early..now up over 137.10

wallstreetcappers · Answer

Buck,Nice break on the Loonie....who knew that would happen, it for sure nudged you over the finish line.

bucknuts · Answer

Wall i took some time to open some practice accounts today just to look at the platform setups and their mobile apps.
I didnt know US customers couldnt use FXCM anymore..when you mentioned they were in trouble i assumed you were talking about their debt problems theyve been dealing with for yrs.I will say this confirms a suspicion that i believe we have discussed before..trading desks openining opposing trades.
Damn shame too cause FXCM has the best platform and mobile IMO..their HUD on mobile is very nice and i could prob get by trading just using the app if needed.
Forex.com/gain capital app not good..platform for laptop isnt as good as the version i used a few yrs ago..they use to have really nice charts.
I will be going to Oanda..nice platform and their mobile trading app isnt great but i liked it better than forex.com app, dont think ill be doing much trading from my phone but i dont like taking like laptop on site anymore after i ruined one bringing it to work.
Not sure if ill jump in another trade this week or not,dont see much atm that i like but there always seems to be something at 3am,so we will see.

wallstreetcappers · Answer

Buck,Oanda is a market maker just like FXCM and most I imagine.I read a few sites reviews on Oanda and it makes me think I wont find anything I will be happy with.FCXM was a step down from what we had before and they got worse as it went along...I dont want to deal with wide spreads during news and blind sellouts when I am not expecting it, plus they dont allow debit card transactions and have many hoops to jump through with funding...

bucknuts · Answer

Well after looking over charts on a nice screen Im gonna sell a lot of LB/$ here at 1.2551...not expecting a huge move down but i think i can scalp 20 and prob more.

I will be up late again watching

Wall i didnt see much positives anywhere when reading reviews but Id guess that has to do with the % of traders who actually profit LOL

So are you done with Forex then?

wallstreetcappers · Answer

No of course not but sheesh I am not at all happy settling with something that will make it even more difficult to be successful.

Forex is stacked against us from the start, making impossible and timely money transfer is a big big deal to me.

Forex April-May 2017

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