FOREX trading

[ocean]

Anybody here do any FX trading? Also, is there a particular site that you recommend? I've been looking at this one: http://fxtrade.oanda.com/about/about_fxtrade.shtml

Lastly, is there anywhere I can get historical prices for the dollar?

Thanks,

M_M

MM, I just recently looked at the Forex trading. I found the site http://www.global-view.com via googling and it has a lot of information about Forex. There is a link on the left column that you can find the historical chart data.

As for Forex, I realize that there is another investment world that I had not really noticed before. The daily trading volume is nearly $2 trillion and it is at least 60 times more than New York Stock Exchange. Talk out liquidity. Also it is traded 24 hours a day, 5 and ½ days a week.

Through the site, I opened the demo account with http://www.GFTforex.com (this is not an endorsement) and learned the tools and the trading terminology. The demo account just expired (30 days trial). They also sent someone walked through the demo program with me on the phone for about 30 minutes. Of course they would like me to open the real account with them. At this point, I haven’t yet as I am still reading more about Forex.

Books that I just ordered from Amazon are: Profiting with Forex and Beat the odds in Forex trading and now I am reading the first one as the second one did not arrive yet.

If anyone has some gambling instinct in his / her blood, wow, Forex trading is for you. Not only you can trade around the clock (good for all of us, cause we’ve got to work during the day), but it is categorized as non day trading pattern so big investment is not required and it is highly leverage. It uses all the technical analysis to aid your decision (it is a must), otherwise it is like walking into the fire and get burnt into ashes in no time.

But again, Forex is not for everyone, if you are not careful and do not have enough knowledge on this. DON’T DO IT!!! Otherwise, if you are educated enough about this, it may be another vehicle to enrich your portfolio.

Ocean

 

[mlk_man]

Here is another site that you can open a practice account:

http://www.fxcm.com/open-free-100k.jsp

 

[ocean]

For those of you who are interested in Forex Trading, here is the site you can visit. You can find anything such as Brokers, Trading Methods, Forex Forums etc and now I am a frequent visitor there and trying to learn a new skill in my spare time.

Here is the URL: http://www.forexfactory.com

Good luck.

Ocean

 

[Frixxxx]

Ocean,

I want to breathe life into this thread as I have been dabbling with igfx.com and coming out ahead.....

Have you been in this market at all?

I have been using igfx.com, because of the advisors that can be written. Don't get me wrong, I know there are more out there but this one allows me to set "MY" positions based on my expectations.

I have been in a couple of months and have returned what TSP has lost.

Thanks in advance for having this here!

 

[luv2read]

Thanks!

 

[ocean]

Ocean,

I want to breathe life into this thread as I have been dabbling with igfx.com and coming out ahead.....

Have you been in this market at all?

I have been using igfx.com, because of the advisors that can be written. Don't get me wrong, I know there are more out there but this one allows me to set "MY" positions based on my expectations.

I have been in a couple of months and have returned what TSP has lost.

Thanks in advance for having this here!

Fri,

Yes, I only did the forex two years ago for about 3 months as an experiment. I felt that the spread was quite large in the forex markets at the time and it was time consuming to monitor the trades between late night and early in the morning. That's only time I could trade. It was stressful after a while so I stop completely with a short trial.

Late last year after I finished the autotracker for Tom and EW and my mind was still in the programming mode. Just happen I found stocks, futures and commodities trading can be programmed by non-professional using software tool. After some research on the internet, I realized that profits can be made with system (software) trading -- so they say. Since then I bought futures trading books, seminar material, joined the trading forums, open a futures trading account and began my other journey -- Ocean Futures Trading, that is.

After almost 6 months of working on my system with different strategies on different futures indices and continue to tweak it. I found that system trading is doable and does not need to be monitored constantly. That's why I started the Futures and commodities thread last month just to show my progress in a simulated mode . At the moment, I only concentrate in the futures and commodities. I will look into the option markets to learn the hedging when the portfolio grows somewhat larger (I hope) in the future.

Fri, if you are doing well on the forex markets, continue to pursue that path. Since we can't do much about trading our TSP account any more. Best of luck to you.

Ocean

 

[Frixxxx]

Thanks for the update ocean,

Good luck on the futures and commodities. I will try and post my weekly (simulations) and maybe get a few more people interested. I think it is a viable investment opportunity and could be another avenue to make money. Some of the companies that have managed accounts have sustained nice monthly returns .75-1.0%. others have had bad streaks. I think I will try and make this my focus for now.

I'll keep this thread as my home for it now.

 

[Bullitt]

Free week of Forex Forecasts from Elliot Wave International. 8/20-8/27.

http://www.elliottwave.com/freeweek/ss_currencies/default.aspx?code=24294

 

[ExtremeWX]

What are your thoughts on this:
http://forex-autocash-robot.com/index.php

It bosts a great track record of not having a single negative...
Is this a scam?

Any advice on this would be great.
Bryan

 

[Frixxxx]

What are your thoughts on this:
http://forex-autocash-robot.com/index.php

It bosts a great track record of not having a single negative...
Is this a scam?

Any advice on this would be great.
Bryan

Forex is great if you got money to burn....If you can take $1000 dollars out of your bank account and light it on fire and not feel any guilt, sadness or loss, FOREX is for you. I have been working on an automated system and it is tough to be 100% sure. Problem is, most robots are just that. You can't get emotional. Good Luck!

 

[Frixxxx]

OK,

Guess I better start explaining myself on the FOREX bit......

I'm watching alot of movement this week because of the weak dollar. I told a few people of my targets last week and if they positioned themselves from my posts properly, could have easily pulled 310% out of the market.

USD/JPY - 92-93 was the expected threshold for the summer and proven by the drop from 95 yesterday...I knew.....repeat knew that the drop was coming but was prepared for earnings release to be the predecessor........
DEAD ON for 400 Pip movement since June 16th....I will try and post another suspected move if my indicators show again... (This made my quarter for expected returns.)

Now, 90 to 88 is a desperate level for the YEN; but easily foreseeable. Chart won't load

GBPUSD - No rate change....No Love....Look for a move to 1.75 and maybe 1.8 before the summer is over.....Last year this time the Pound was 2....If contraction is the plan....then we will see this number again.

EURUSD - So lukewarm right now.....I don't know if 1.5 can be supported.
Watch for 1.4 to stay this week into next....

Good Luck....

 

[sdouglas3]

OK,

Guess I better start explaining myself on the FOREX bit......

I'm watching alot of movement this week because of the weak dollar. I told a few people of my targets last week and if they positioned themselves from my posts properly, could have easily pulled 310% out of the market.

USD/JPY - 92-93 was the expected threshold for the summer and proven by the drop from 95 yesterday...I knew.....repeat knew that the drop was coming but was prepared for earnings release to be the predecessor........
DEAD ON for 400 Pip movement since June 16th....I will try and post another suspected move if my indicators show again... (This made my quarter for expected returns.)

Now, 90 to 88 is a desperate level for the YEN; but easily foreseeable. Chart won't load

GBPUSD - No rate change....No Love....Look for a move to 1.75 and maybe 1.8 before the summer is over.....Last year this time the Pound was 2....If contraction is the plan....then we will see this number again.

EURUSD - So lukewarm right now.....I don't know if 1.5 can be supported.
Watch for 1.4 to stay this week into next....

Good Luck....

Hello,

I trade the Forex. I have been burning through money for a long time. However, I have come across an EA called Robominer that is incredible. It is a long term trading ea that will make you 3 to 10% per month. There are some drawdowns but not like you would normally see with other ea's. I'm not pushing the ea. But, I do like it and have it running 24/6. The site is http://www.forex-goldmine.net/ Check it out. I like the fact that I can diversify away from these funds and have another avenue to help make me money. JMO

Steve

 

[Frixxxx]

Hello,

I trade the Forex. I have been burning through money for a long time. However, I have come across an EA called Robominer that is incredible. It is a long term trading ea that will make you 3 to 10% per month. There are some drawdowns but not like you would normally see with other ea's. I'm not pushing the ea. But, I do like it and have it running 24/6. The site is http://www.forex-goldmine.net/ Check it out. I like the fact that I can diversify away from these funds and have another avenue to help make me money. JMO

Steve

Hey Steve, thanks for posting that and I hope your trades are going well. I like to control my destiny a little more than their stay and play. If you've noticed, I've moved out of the U.S. because of the hedging limitations. We are the only country that requires it.....I reviewed goldmine and read through the FAQs -but aren't they limited to 2 pairs for trading?.... Since I'm a computer guy by trade I like to give the whole experience a tweak to the Frixxxx side and add a few flavors of my own. I use MT4 for tweaking indicators and deploying strategies.

Anyway, Stay on this and let me know how your trading is going and if you see trends developing.

Oh....And Way to go on diversifying your portfolio!!!!!!

 

[Bullitt]

I don't understand how you can trade currency without hedging. Don't you have to sell one currency to buy another?

 

[Frixxxx]

I don't understand how you can trade currency without hedging. Don't you have to sell one currency to buy another?

Well, you trade pairs....USDJPY

If the dollars weak, like now, its let's just say its 93.10 now($1 US = 93.10 Yen), lets say you think the dollar is going to get strong (buy more) Yen so you place a LONG position.
Now, If the $ gets strong...the USDJPY starts to move....93.10.....93.30.....93.60.... and you now want to close the position.....you get 57 pips (3 is the spread).

Now based on how you trade let's say you place a long position and your expectation is 100. That is a fair distance but nice for this example. You watch the pair again.....93.10.....94....95...96.40....(uh-oh) resistance.

Now, you see that there is some downward movement. In the old days, you could place a short position while it fell back from that resistance. Hence, hedging losses.

You can't do that now in the states. You are limited to "ONE" direction. Well, let's say I start out at 93, but it hits resistance immediately. Now I have to wait until it turns around to make money....rather than allowing a hedge to cover margin I have to close the position, open an opposite position, and then determine a new long "switch point."

Hence, I moved my accounts to oversea banks to let me HEDGE. Hmmm...I can make money on both sides of the movement.

Hope this helps!!!

 

[sdouglas3]

Hey Steve, thanks for posting that and I hope your trades are going well. I like to control my destiny a little more than their stay and play. If you've noticed, I've moved out of the U.S. because of the hedging limitations. We are the only country that requires it.....I reviewed goldmine and read through the FAQs -but aren't they limited to 2 pairs for trading?.... Since I'm a computer guy by trade I like to give the whole experience a tweak to the Frixxxx side and add a few flavors of my own. I use MT4 for tweaking indicators and deploying strategies.

Anyway, Stay on this and let me know how your trading is going and if you see trends developing.

Oh....And Way to go on diversifying your portfolio!!!!!!

Hello Frixxxx,

Yes, that EA is limited to one or two pair. Using the two pairs though increases your monthly return and keeps your margin lower because they offset each other somewhat. They have another ea on thier site called Shadow which you can use just about any pair on.

I understand that a person can make a lot more money in the Forex market without using Robominer. However, I haven't figured it out yet how to do it. I have spent hundreds of dollars and hours trying to figure it out and have ended up losing thousands of real dollars. Well, I came to a point that I had enough but still wanted to participate in the Forex market. So, I came across Robominer and it works very well. It's like watching paint dry. So, you set it and forget it for a week or so. Then start to look at your results. Overtime it builds and builds your account.

I left the US brokers for Forex.com UK to be able to hedge if needed. As it turns out it looks like a lot of US brokers are moving overseas to get away from the NFA regulations.

I was running FapTurbo for a long time. But, it seems have run on it's last leg. I think the banks have figured it out and have done something to keep it from performing like it use to.

There is an outstanding site that reviews ea's and has a very good forum. It's donnaforex.com Donna lives in England and trades the forex.

Have a good day!

Steve

 

[Frixxxx]

There is an outstanding site that reviews ea's and has a very good forum. It's donnaforex.com Donna lives in England and trades the forex.

Have a good day!

Steve

Thanks for the site, will check it out....

Another note, I have a few acounts in London and a few in Cypress. Need to look into some others, but these are the easiest to work with....My background checks on other countries are pending.

I will not trade with banks that are in countries that support terrorism.

They are out there.

Oh, and for everyone in the derivative markets....HAHA....Geithner ratted you guys out today...your the next contestant on why the economy is so bad!

Have a great weekend all...I have Reserve Duty...No rested for the wicked!!!!!!!

 

[Frixxxx]

Yen – got to love volatility. Whips to 91.60 back to 92.50 in less than 12 hours.

The Yen is in the “bouncy bounce” we love in Forex. Retracements from the Fib are the call this week and there are going to be many “bounces” during earning reports this week.

Australian Dollar looks to support the same movement as gold gets a boost this week.

Pound and Euro are set for sideways movements. But the experts are shorting them against the $.

I cringe when I say this but we had a 200% account movement to the green last week. The cringe is, once you do it you think its repeatable all the time….The reality is, to get that type of return means you had to set a rule breaker up to capitalize on market movement.

Anyway, have a great week and I’ll try and keep you up-to-date in the Currency World

 

[sdouglas3]

Yen – got to love volatility. Whips to 91.60 back to 92.50 in less than 12 hours.

The Yen is in the “bouncy bounce” we love in Forex. Retracements from the Fib are the call this week and there are going to be many “bounces” during earning reports this week.

Australian Dollar looks to support the same movement as gold gets a boost this week.

Pound and Euro are set for sideways movements. But the experts are shorting them against the $.

I cringe when I say this but we had a 200% account movement to the green last week. The cringe is, once you do it you think its repeatable all the time….The reality is, to get that type of return means you had to set a rule breaker up to capitalize on market movement.

Anyway, have a great week and I’ll try and keep you up-to-date in the Currency World

Awesome Frixxx,

Have to like the bounces. Money making opportunities for sure. I use fibs in my trading as well. I use Forex Profit Monster on a 4 hr chart to look for S&R. For me it seems to work pretty well.

Steve

 

[Frixxxx]

Awesome Frixxx,

Have to like the bounces. Money making opportunities for sure. I use fibs in my trading as well. I use Forex Profit Monster on a 4 hr chart to look for S&R. For me it seems to work pretty well.

Steve

Profit Monster is a nice tool. I use a custom indicator with all time charts. I use it to place quick and hold positions. My custom RSI has been 89% the last three months....it's the exits on the 11% that I always cringe over......