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March FOREX IV

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Posted: #26

wall, I will have to take a look at that chart when i get home.  can't see anything right now, my internet is hella slow right now

 
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Posted: #27
Nice job pop..

I kind of wondered if you might have put on too tight of a stop last night. Glad you made it back.

I have an order in on eu.aud at 1.9385 for two.

Noticing many US pairs breaking down over the last hour or so, selling coming in on most every pair I look at, or buying on the inverse pairs.
 
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Posted: #28
short CD.Yen at 79.50

Smells early for me as USUAL..

Pair is severely overbought, this area is technically crucial and I am going with it.
 
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Posted: #29
Averaged up on the US.CN and CN.Yen already.

The CDN dollar really moving today..shockingly so.
 
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Posted: #30
didnt have time last night to check out those charts
 
you're right wall, i did have too tight of a SL on that trade! (just barelytoo as i got stopped out by a couple pips before it came back down lol).  thats one thing i am having trouble with is stop loses.  i want to put them there, because i have been burned once before.  i find though, that i make good trades most of the time, but at times get stopped out before it goes in my direction.  somethign i hope i get better at with experience
 
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Posted: #31
going long again EUR/USD ... rigth at 1.35
 
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Posted: #32
I averaged up on this CD.Yen, got up to 80.10 which I posted and one at 80.62, so even with a 2 buy at 79.50 I am up 1500 but I have a buy cover in at 78.95, which would be 360 pips or so.



Also my Eu.Au is starting to improve..almost back to par on those.

Still down on the US.CDN but I think that trade ends up being profitable YET.
 
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Posted: #33
How many trades do you have going at one time, wall? I try to keep my eye on them when I can, and I have a hard time watching more than one at a time.  But my attention span is pretty short also.
 
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Posted: #34
Well it is tough..sometimes nothing is up and I have one or none, other times one currency half is getting smacked and I take a position in a few pairs due to the anchor pair being distressed or overbought.

So now I have three.. US.CDN, short CDN.Yen and long Eu.Aud.

The first two are obviously short the CDN dollar (long the us and short the cdn/yen) and the other was a trading range trade..but it has almost broke that 3 month trading range and it concerns me a little.

This CD.Yen is so overbought on a 4 hr chart it is hilarious..that ADX is sky high and it might be a tough battle but I think I get my 78.95 and it probably goes 300 lower than that too..
 
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Posted: #35
Thanks wall. I've got so much to learn. What do you mean by "overbought"? I see you guys use the term, but what is it?
 
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Posted: #36
I means that the RSI is high and the pair has moved out of normal technical ranges..


 
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Posted: #37
gbp/usd and eur/usd 
both have strong hanging men forming,  
 
 gbp looks like it may have more juice to fall,  with rsi at 58 
+dmi around 27 (flatlining but room to drop) 
-dmi @ 10  making a small upturn,  and the adx at 41
 
this could be a hot trade for the london open
i will have to wait and watch a little more, 
 
sjewl have you checked the resources page?????
 
there is honestly enough to keep you locked in your office for hours on that thread
 
if you go to the esnips page that pop posted, check out the book on candlesticks.
 
 
 
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Posted: #38
man what a crazy few days here...
 
wasnt able to stick around my computer yesterday and missed out on taking 150pips from my EUR long trade only to have if move back down against me!  after averaging it down and thank god for this support at 1.34, i managed to get out making 100pips
 
 
still long two lots and ill see how it plays out today, although it's going to be another busy day at work not sure how much i will be around
 
 
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Posted: #39
250 pips profit from that move so far
 
sold and rebuy twice so i am now still long 2 lots at 1.3540
 
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Posted: #40
hope you guys got in on this one....
 
gonna let my long ride a bit today... im hoping the momentum follows through... also, a bunch of indicators i can see here are looking bullish on 4hr.  BH also believes pressure is to the up with 1.3700 in sight and eventually 1.3850
 
put my SL at the strong support 1.34, if we get to 1.37 before that, i will trail it with a 50 pip SL
 
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Posted: #41
Nice job.

I got out of that CAD.Yen trade and netted 360 pips, but still have US.CAD and Eu.AUD which is sucking air..
 
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Posted: #42
360
 
you seem to be racking em up....thinking of depositing soon?
 
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Posted: #43
hey guys, 
 
still riding out that gbp/usd short from 1.4704
 
sitting around 1.4570 now
 
thinking about taking it and running, my limit was set at 1.4500 but it seems as though there is some signifigant support around the 1.4550 area. 
 
im giong to readjust my stop to get me out with a stop of 1.4590
and see if it cant break that support. 
 
looks like you guys are doing pretty good.
 
i ended up having to withdrawl about 60 percent of my innital deposit and what small gains i had made since i am currently unemployed.
 
toying with the idea of going back to practice ,  and waiting til i can deposit a much larger sum.  
 
anyway.  i will be around
 
good luck today
 
 
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Posted: #44
pop,

I dont know why I am dragging my feet..I am ready, I just havent spent the time to find which broker/service that has the best and fasted in and out (WD/DEP) which is why I wont go with Forex..I want EFT, electronic in and out..not cut a check and wait two weeks.

Now over 100k for all practice accounts..
 
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Posted: #45
Oh and here is the breakdown on that trade (if that pip number seems huge)

2 lots at 79.50 cover 78.95= 110 pips
1 lot at 80.10 cover 78.95= 115 pips
1 lot at 80.62 cover at 78.95= 167 pips

Total pips= 392 pips


 
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Posted: #46
nice rick... you should just WD your initial deposit and play with house money instead of a practice account.  even though it may not be a large sum, i think that would be more worthwhile than play money.
 
wall, i hear ya.  Forex has electronic, e-check and credit card deposit but i dont know why no WD.  i should be making a WD from them soon and when i do ill let you guys know how long/etc although buck says they are pretty good.
 
 
 
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Posted: #47
haha thats awesome...
 
i wish i had the bankroll to have a regular account.  would have been up about $3000 just today.  wall would have been up around $4000 with that trade (or whatever the CAD/JPY pip is worth)
 
its ok though, steadily work my way up there and learn as much as i can about trading these currencies along the way.  it really seems like i learn somethign new or a valuable lesson everyday.  being mentally/emotionally prepared and strong is the most important thing in this, i think
 
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Posted: #48
Yeah I think in order to succeed I will start with mini trades, maybe .2 versus .1 and work UP to a half then to a full and leave myself the option of buying INTO a trade or more than one.

I bet most people fail due to over extending themselves on ONE trade and not being flexible to average in or take advantage of more than one pair.
 
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Posted: #49
This is good for me-

link

25 buck fee to use a bank wire, no fee to transfer to a debit card.

Now I have a few other questions for them regarding platforms and spreads..but I think I will go with FXCM
 
 
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Posted: #50

FXCM is one of the larger trustworthy brokers i think

Also, i just read up on Forex.com page and it is the same deal.  Free check WD and $25 wire transfer is account is made in USD

https://www.forex.com/faq_account.html#11a

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