May the forex be with you...

yup up almost 150 now. hope they dont push this puppy too much higher into the close or we'll have some averaging to do lo

Well the dow +225, i set my limit for 133.80 hoping to get it gonna take a nap. looking to average around 136.50 

Well I dont know why I fail to trade these obvious moves, the markets are so manipulated it is atrocious.

I thought for sure you woulda cleaned up today guys...

Im shrt $/JPY 92.22..

I have been following your posts as of late, and was wondering what trading platform you use for trading? Doesn't the bid/ask spread along with the commissions make it difficult to profit from these trades? Also, you guys talk in Pips, 120 pips, 50 pips, etc. what does that translate to dollars? Also, on any given day, you can enter into multiple trades; on average, what would the initial position be worth? $500, $1k? ; and you use Fibonacci replacements for averaging down positions. Typically, which levels would you average down on?
Also, if you don't mind me asking, on average, what can an average investor using Fibonacci strategies like yourselves average per week pip/dollar wise.

Also, i appreciate all your insight and knowledge in currency trading;

Thank you

Whats up Wager...glad our threads got you interested..

The bid ask price arent that far from each other most of the time..say 3.5 pips average..it varies but most pairs move over 100 pips per day some alot more..so the spread isnt a big deal to me but there are brokers who offer a better than others and theres options for fixed spreads...

Pips in a standard account are $10 each per lot...so if i have 3 lots its $30 per pip..there are micro account where pips value goes all the way down to .10 per pip..

When trading this market you just have to keep free money in your account for margin,measures amount of pip movement against you b4 they close your trade and cash out your loss...so i start trades with a limited # of lots so i can add more  if the price moves against me....

Lots prices vary depending on value of your pips..say you open a mini account with 3k and you enter a trade of EU/$...starting with 3 lots youd have $300 or so of your margin in that trade..and youd be looking at $3 per pip..

I average using trend lines,support,resis and fib lines..averaging a trade is different every single time because of market conditons,RSI,moving averages and so on..

I think 250 pips a week to start maybe more...depends on the trader...hell i left 140 pips in the last trader i was in but didnt want to leave it open while i was sleeping...im in JPY now and im looking for prob 70 with 2 lots..

Its all in the charts..if youve traded stocks the charts will tell you what do..open a practice account,[every broker offers them free]practice trading for a few months to figure out price action,the lingo,margin limitations and all the other crap

we are here to help

Buck,

The posted information is much appreciated. 

Thanks again

GL hope you become a regular poster in here

Got that second lot..

Almost glad I did as it raises my average..

Next Fib line still 100 pips up...maybe one more add Wall b4 nice profits??

added on both positions here @ 136.18. man we shoulda went with the trend on this one here, thought we might see 136 before the drop but that was thanks to the USM going into rally mode yesterday. 

been adding less lots on these ads since puppy could move to 138-140. i highly doubt we go there without a retracement tho. 

Walls what are you thinking as a limit price ?? i see 134.25ish is 38% fib retracement. i have mine currently set for 134.40 

my guess is usm -55 pts today 

we put a new thread up Pap...June edition

13668 or around there should be the 61.8 and would complete the retrace unless it goes for 100%...i havent pulled the fib since last week but it should be in this thread...maybe 4 pages back???

lol oh ya its june thanks for getting me buck 

BOL