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May the forex be with you...

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Captain
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Posted: #401

So you got out right Wall?See the high was 13470s..no sleep finally caught up with me i crashed out early...back to work today,what a drag...

 
Covers Linesmen
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Posted: #402
No I am a stubborn cuss and I am sticking for 135.


 
Captain
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Posted: #403
My bad i thought you you meant 135 pips from your avg price
 
Rookie
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Posted: #404
i think the s&p level of 1125 will give us some guidance of where the usm will be moving towards. 
 
Rookie
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Posted: #405
watching gbp/jpy here hoping it dips below 132 again. still watching the close of the market 1125 is a key number here
 
Rookie
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Posted: #406
got a buy order in @ 132  5lots 


 
Captain
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Posted: #407
5 lots in an exotic pair is about $700 of your margin...maybe more depending on lot price..
 
Rookie
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Posted: #408
well my order didnt get taken i guess. which is good 131.60 right now with a low of 131.30 ill just grab 5 lots here 

 
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Posted: #409
i will look to add @ 130 if it gets there. 
 
Captain
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Posted: #410

Are we talking mini lots or the $1 per pip lots or what?

I wouldnt look to get too many lots to start with this pair as we just saw a 1000 pip drop in a few hrs just a week or so ago...as ive said b4 this isnt that hard but if you handcuff yourself by starting with several lots and something happens like a fat finger trade,terrorist attack or some kind of natural disaster youre fucked and it could be a quick enough move that you get a margin call b4 you could deposit more funds ...

 
Rookie
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Posted: #411
its $1 per lot. i feel ok with it where its at it could fall 500 pips from here and i'd be ok, even if i averaged in some while it moved south. I'll be adding more funds soon though because i see what u guys are saying. I was real uncomfortable sunday night/monday morning. I was down over 3k on that morning and came out with a profit of 800. scary shit but got through it. 

I woulda went in with 3lots but i dont think this pair will fall another 500 pips from here, maybe 200. I'm basically back in where i was shitting my pants down 3k and holding 14 lots on sunday night but my average is at that low point so i think ill be good real good if the big boys start the bull rise back in the stock market. 

only thing i dont like is the s&p under 1125 thats a technical level that may fuel more selling tomorrow. 


 
Captain
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Posted: #412

I see what youre sayin...just keep in mind anything can happen..this pair may not go to 120 without enough swings for us to enter,average and jump out but you never know..looking at long term charts i could certainly see this pair going back down to test the low from Jan/09...

Starting trades with less lots bring you less money but its worth feeling safe and knowing no matter what happens they cant take you out...and theres nothing wrong with the returns youll be making...

Just be safe bro weve had a few guys come and go dont want to see you get a call from the margin fairy

 
Rookie
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Posted: #413
Looks like daily support lv1 @ 130.55 is propping this up for the moment. it will probably break but thats where i shoulda placed this buy order. 
 
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Posted: #414
yeah i know what ur saying i was about to sell out at even money an hour ago  because i see this pair falling more but i went to put my son down and when i came back it had already fallen thru 131. 


whats the most you guys have  seen a pair drop in a months time ?? i think im feeling safe since this pair has really taken a beating this month. 
 
Rookie
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Posted: #415
testing 130.55 again 
 
Covers Linesmen
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Posted: #416
Added another at 130.75

I am going to be on and off for several days but will try to check in as I can.
 
Rookie
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Posted: #417
got out even and open a new position with 3 lots 20 pips lower also.  so i can average in on the moves. 
 
Captain
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Posted: #418

Nice Pap

Wall you going on a trip or something?

 
Veteran
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Posted: #419
Dropped in here to see what is goin on...how has Germany's crusade against speculators gone for the euro?

 What is a "radical swing" in terms of pips? 

 Is trading the major pairs the usual, safest way to start, or all pairs fair game for a beginner?

  I am going to get a practice account and  trade that until I get a handle on whether it is for me...
 
Rookie
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Posted: #420
been in and out of gbp/yen today. made 300 but i shoulda waited on 1 trade had my limit set and then just took profits, it then dived, i took off for 10 minutes. comeback and it rose like 60 pips from where i sold it. and then my oriniginal limit price hit about an hour later, left over 400 on that trade this morning. 


 
Captain
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Posted: #421

Vermeer nice to see you in here,hope you become a regular...then we go after CC

Every broker offers free practice accounts that trade in real time with the market and you can ask them to set your balance to any $$ amount you want to make it more real...

Since youre jumping in a trial account try trading them all if the chart looks good but the majors are less risky to trade..some of the moves are pretty crazy but its usually on days when something major happens,the fat finger day was crazy for forex as well...you have a good handle on the stock market so that will help you in here as well

I think youre gonna like this market just learn to use your margin to your advantage and you can make some $$

 

 
Captain
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Posted: #422
Wall check out EU/AUD chart....WOW
 
Veteran
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Posted: #423
CC will join in when they send  guns and gold bricks for opening a trial account 

 Any thoughts on micro FX?? 

 One last tiresome question:what, outside of normal economic publications (ie WSJ, IBD, Barrons), do you use for specific currency information? Any sites that you refer to regularly for data?

 Thanks Bux
 
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Posted: #424
i use basically mainstream media, bloomberg, yahoo, etc...  and forex.com has info on economic reports from overseas. 
 
 
Captain
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Posted: #425

Vermeer we have a forex resources thread,ill bump it to front page but its got a ton of good sites for info

Babypips.com

dailyfx.com

forexchurch.com

theres a few to get you started

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