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!:cool:

[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!:cool:

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.:cool:

[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 (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 (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.):cool:

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

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.):cool:

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

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.:cool:

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.:cool:

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. :D

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. :D

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......

[sdouglas3]

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......

Frixxx,

Did you design the indicator yourself?

Steve

[Frixxxx]

I'm cheating today and using a link that shows some market data that might influence you either in FOREX or the stock market:

http://www.dailyfx.com/story/topheadline/Chart_Patterns_and_Implications_1247254264687.html

These items just repeat what I said yesterday.

Weak dollar ahead.....short the carries:cool:

[Frixxxx]

Frixxx,

Did you design the indicator yourself?

Steve


Joint effort with a friend....It's our side business. We currently have 14 accounts and are in negotiations with a few hedge fund managers and some overseas investment groups.

[sdouglas3]

Joint effort with a friend....It's our side business. We currently have 14 accounts and are in negotiations with a few hedge fund managers and some overseas investment groups.

That's Cool. Let me ask a question. Do Banks and hedge funds trade with individuals or do they use EA's or a combination of the two?

Reason I ask, if the banks win most of the time and the retail crowd loses. What seperates the banks from the retail crowd? Is it just the amount of money they have to force trades to go thier way? Also, If one bank makes money, do they win against other banks as well?

Just some questions I was curious about.

Thanks,:)

Steve

[Frixxxx]

That's Cool. Let me ask a question. Do Banks and hedge funds trade with individuals or do they use EA's or a combination of the two?

Reason I ask, if the banks win most of the time and the retail crowd loses. What seperates the banks from the retail crowd? Is it just the amount of money they have to force trades to go thier way? Also, If one bank makes money, do they win against other banks as well?

Just some questions I was curious about.

Thanks,:)

Steve

Speculation on my part.....remember, you can close orders in full or in part. What I have determined through resource is that banks will manipulate at specific times. Also, most trading platforms are not permit to trade the first hour of the weekly session. This is to allow banks to "square" away their accounts. So, the answer is depending on what a specific bank needs determines the volatility of their trades and if they are going to "manipulate" the market.

Since they have removed hedging......(U.S. ONLY:mad:) some of this may go away.:cool:

[sdouglas3]

Speculation on my part.....remember, you can close orders in full or in part. What I have determined through resource is that banks will manipulate at specific times. Also, most trading platforms are not permit to trade the first hour of the weekly session. This is to allow banks to "square" away their accounts. So, the answer is depending on what a specific bank needs determines the volatility of their trades and if they are going to "manipulate" the market.

Since they have removed hedging......(U.S. ONLY:mad:) some of this may go away.:cool:


Frixxx,

Thanks for your response. How many times have you seen the EUR/USD open up or down a 100 pips on Sunday afternoon and then fill the gap? If your on the good side it's fine. If not then hell can break loose. I don't trade on Sundays at all.

Steve

[sdouglas3]

Speculation on my part.....remember, you can close orders in full or in part. What I have determined through resource is that banks will manipulate at specific times. Also, most trading platforms are not permit to trade the first hour of the weekly session. This is to allow banks to "square" away their accounts. So, the answer is depending on what a specific bank needs determines the volatility of their trades and if they are going to "manipulate" the market.

Since they have removed hedging......(U.S. ONLY:mad:) some of this may go away.:cool:


Frixxx,

I wish you and your partners good luck with your indicator and hope you sell to all the hedge funds. Let us know how it works out.

Steve

[tsptalk]

You guys are more than welcome to keep posting your futures and currencies trading here. I enjoy reading it. But we also have Futures Trading forums on our ETFtalk.com forum... www.etftalk.com/forum (http://www.etftalk.com/forum)

We are trying to get this off the ground and with your posts, you may draw similar traders into your conversation. The more the merrier! :) Thanks

[Minnow]

Hey Frixxxx.... GDP comes in on Friday... any front-running on your part?

[Frixxxx]

Hey Frixxxx.... GDP comes in on Friday... any front-running on your part?
I believe we will hit expectations solely based on the fact that they are going to be using "new" numbers. I also believe that if you watch Geitner today, he will 'hint" at the expectations.

We'll beat -1.3% , but we'll still be negative.

My call only.

I really think we would be @ -3%, but I can't account for the new figures they will be using yet.:cool:

[Minnow]

Yeah, that's probably a good call.

I get suspicious when the rulers are recalibrated.

Now, in my practice fx account... I'm waiting for thursday to try and position myself for the EUR to actually make its way higher... the dollar to make its way lower... and then a sort of "sell the news" scenario later and hopefully I'll be quick/lucky enough to catch the swings... but I will trust my "system" (if you can call it that yet).

BTW, I finished the babypips school and I'm just dangerous enough to have kept one practice account alive (using basic candlestick stuff and oscillators -- not a whole lot of backtesting so far) for 48 hrs -- it died an unceremonious death thursday -- my personal best so far... :laugh:

I'm trying some fib stuff mixed in now... it's a work in progress ...

I think I'll try and run two accounts at the same time now. Wish me luck...

[Frixxxx]

BTW, I finished the babypips school and I'm just dangerous enough to have kept one practice account alive (using basic candlestick stuff and oscillators -- not a whole lot of backtesting so far) for 48 hrs -- it died an unceremonious death thursday -- my personal best so far... :laugh:

I'm trying some fib stuff mixed in now... it's a work in progress ...

I think I'll try and run two accounts at the same time now. Wish me luck...
Congrats,,, I've been through it three times.....when looking at fibs, mark a daily, weekly, and a monthly.

I had a great epiphany on this approach.....

Also, check some RSI levels at all time frames. I love the RSI.....I can almost predict the future. Well, at least enough to stay profitable.:cool:

Good luck on two accounts......also....create a report of each attempt and write down lessons learned....Makes great review material and helps curb the possibility of repeat mistakes.:cool:

[Intrepid_Investor]

Hey Frixxxx,

Hey do taxes work on Forex trading? Is it like capitol gains?

Thanks,

I_I

[tsptalk]

With futures, you only get one amount reported to the IRS, rather than each sale for individual stocks. If you buy a stock 10 times during the year, and sell it 10 times, you get 10 amounts (each sale) reported to the IRS. With futures it's just one amount reported to the IRS.

I don't know if FOREX is different, but I thought I'd mention this if anyone was interested.

[Minnow]

Congrats,,, I've been through it three times.....when looking at fibs, mark a daily, weekly, and a monthly.

I had a great epiphany on this approach.....

Also, check some RSI levels at all time frames. I love the RSI.....I can almost predict the future. Well, at least enough to stay profitable.:cool:

Good luck on two accounts......also....create a report of each attempt and write down lessons learned....Makes great review material and helps curb the possibility of repeat mistakes.:cool:

Yeah, RSI is cool alright...

So far I've written my lessons learned from the failures (5 so far -- 3 failed within an hour or so... 1 lasted 6 hours and the almost 48 hour one) ... different small technical mistakes/errors for different accounts but the two things that happened on all accounts: 1) going back too quick with a trade and trying to "win" my "money" back -- even though I know not to do this, 2) emotion, emotion, emotion -- specifically not being objective... I will get better... just gonna take some time... at least it's not real money :cool:

Not sure which pair(s) you trade the most... i'm eurusd right now (actually with the account dead, I'm not anything) but looking to start the second in cadusd ...

[sdouglas3]

Yeah, that's probably a good call.

I get suspicious when the rulers are recalibrated.

Now, in my practice fx account... I'm waiting for thursday to try and position myself for the EUR to actually make its way higher... the dollar to make its way lower... and then a sort of "sell the news" scenario later and hopefully I'll be quick/lucky enough to catch the swings... but I will trust my "system" (if you can call it that yet).

BTW, I finished the babypips school and I'm just dangerous enough to have kept one practice account alive (using basic candlestick stuff and oscillators -- not a whole lot of backtesting so far) for 48 hrs -- it died an unceremonious death thursday -- my personal best so far... :laugh:

I'm trying some fib stuff mixed in now... it's a work in progress ...

I think I'll try and run two accounts at the same time now. Wish me luck...

Here is a good site for a little technical analysis. http://www.chartsecret.com/

[sdouglas3]

Congrats,,, I've been through it three times.....when looking at fibs, mark a daily, weekly, and a monthly.

I had a great epiphany on this approach.....

Also, check some RSI levels at all time frames. I love the RSI.....I can almost predict the future. Well, at least enough to stay profitable.:cool:

Good luck on two accounts......also....create a report of each attempt and write down lessons learned....Makes great review material and helps curb the possibility of repeat mistakes.:cool:


Frixxx, How is the indicator working for you ? Are the Hedge funds contracting with you yet? Hope that works out for you.

Steve

[Minnow]

Here is a good site for a little technical analysis. http://www.chartsecret.com/

cool, thx... I'll check this out in-depth a little later on...:cool:

[fedgolfer]

What are the pairs you guys like trading/scalping the most? What are the better spreads for carriage trades you foresee the next few months USD/AUD?

[sdouglas3]

What are the pairs you guys like trading/scalping the most? What are the better spreads for carriage trades you foresee the next few months USD/AUD?

Fedgolfer,

I use a program called Robominer to trade the AUD/NZD and the EUR/CHF. It's a safe program to use I have been using it since last July and my account is up 36%. It has been booking profits of about 6% per month. The last couple of months it has faired better than 6%. Now it does have draw downs but if you follow the money management you will be alright and not suffer your account exploding. I use forex.com UK because they are not governed by the NFA rules. Robominer site is at forexgoldmine.net

For me Forex is high risk, High return. I have blown many accounts up by not trading with good money management. I chose Robominer because it allows me to sleep at night and I don't have to stay up all night to monitor open positions. Robominer is a long term set and forget program.

Thats what I trade. Hope this helps!

Steve

[Minnow]

I gotta look into that Robominer thing. I tried going through and educating myself and then blew up quite a few accounts.

I liked trading the USD/JPY until recently. I tried going with two accounts at once with one on the USD/JPY and one on the USD/EUR. I don't think I had the patience for it.

The sooner fan is right -- money management is the key. That's why all of mine have been practice accounts. Another good tip I learned from a Frixxxx recommended site (www.babypips.com (http://www.babypips.com)) is to determine which type of trader you are. I used to daytrade way back when and I thought I was still that type. Turns out marriage and four kids has made me at best an intermediate type to long term type at least when it comes to currencies and probably overall. That site should be like grade school stuff for you fedgolfer but it's still a good primer.

Now, I don't believe (barely) understanding the currency game has helped me with TSP ... it's probably been to my detriment a little bit... but in the long run it will likely benefit me.

I'm just starting to look at the EUR/CHF cross ... if anything stands out I'll post on this thread. Until then, I'll be shopping around to see how to blow up more accounts --- uh, I mean make money.

[sdouglas3]

I gotta look into that Robominer thing. I tried going through and educating myself and then blew up quite a few accounts.

I liked trading the USD/JPY until recently. I tried going with two accounts at once with one on the USD/JPY and one on the USD/EUR. I don't think I had the patience for it.

The sooner fan is right -- money management is the key. That's why all of mine have been practice accounts. Another good tip I learned from a Frixxxx recommended site (www.babypips.com (http://www.babypips.com)) is to determine which type of trader you are. I used to daytrade way back when and I thought I was still that type. Turns out marriage and four kids has made me at best an intermediate type to long term type at least when it comes to currencies and probably overall. That site should be like grade school stuff for you fedgolfer but it's still a good primer.

Now, I don't believe (barely) understanding the currency game has helped me with TSP ... it's probably been to my detriment a little bit... but in the long run it will likely benefit me.

I'm just starting to look at the EUR/CHF cross ... if anything stands out I'll post on this thread. Until then, I'll be shopping around to see how to blow up more accounts --- uh, I mean make money.

Hey Minnow,

I meant to post that you can try Robominer for free. All you have to do is go the the site I listed and sign on to the site and then download Robominer. Try it on a demo account. Remember it's a set and forget program. Don't watch it as it's like watching paint dry. It's also not a get rich over night program. It's designed for the longterm.

Steve

[Minnow]

Hey Minnow,

I meant to post that you can try Robominer for free. All you have to do is go the the site I listed and sign on to the site and then download Robominer. Try it on a demo account. Remember it's a set and forget program. Don't watch it as it's like watching paint dry. It's also not a get rich over night program. It's designed for the longterm.

Steve

Thanks man... I'll be checking into it soon. I kind of like the idea of a set and forget program on currencies.

Got a site with good background/technical educational info on the EUR/CHF cross?

[sdouglas3]

Thanks man... I'll be checking into it soon. I kind of like the idea of a set and forget program on currencies.

Got a site with good background/technical educational info on the EUR/CHF cross?


Look at actionforex.com or fx360.com

[fedgolfer]

Robominer is a long term set and forget program.

Thats what I trade. Hope this helps!


Thanks for the info, Steve. I'll check it out tonight for sure. Like the George Foreman grill, set it and forget it :)

[sdouglas3]

Thanks for the info, Steve. I'll check it out tonight for sure. Like the George Foreman grill, set it and forget it :)

No problem, I'm here to help. When you go to forexgoldmine.net be sure to check out the questions and answers area. It should explain any questions that you might have.

Steve

[Frixxxx]

Hey guys,

Been a while on this thread and I am hoping to get back on track the first of the year with this.

I'm still under an NDA about my strategies and performance levels.

Pairs that I focus on:

USD/JPY - a more stable long term investment - although, I hear that a lot of countries are in the Yen for the long haul on the buy side.

GBP/JPY - an excellent Fibanocci retracer.......Ride the Elliots on this one.

Watch the spreads ladies and gents and remember, over 6 pips is nasty returns.

Look for 1% movements!

Invest in UK banks to "hedge" postions. The U.S. is still holding fast to the one-side or the other right now.

Good Luck!:cool:

[Minnow]

Hey guys,

Been a while on this thread and I am hoping to get back on track the first of the year with this.

I'm still under an NDA about my strategies and performance levels.


Well, I hope you're experiencing lots of holiday cheer with your strategies and performance levels.

Thanks for getting me looking into the forex world. :cool:

[sdouglas3]

Hey guys,

Been a while on this thread and I am hoping to get back on track the first of the year with this.

I'm still under an NDA about my strategies and performance levels.

Pairs that I focus on:

USD/JPY - a more stable long term investment - although, I hear that a lot of countries are in the Yen for the long haul on the buy side.

GBP/JPY - an excellent Fibanocci retracer.......Ride the Elliots on this one.

Watch the spreads ladies and gents and remember, over 6 pips is nasty returns.

Look for 1% movements!

Invest in UK banks to "hedge" postions. The U.S. is still holding fast to the one-side or the other right now.

Good Luck!:cool:

Frixxxx, I look forward to hearing from you at the beginning of the year. Thanks for the info.

Steve

[Minnow]

Looks like shorting the Yen may be making a comeback based on some of the comments coming out of Japan. Would be interesting if the USD shorts moved their positions. Then again, it might be scary.

[Silverbird]

If the BOJ decides to intervene in the currency market, that means they will have to buy dollars or print yen. Print yen is not a smart move when your country is suffering from deflation. On the other hand, where's the yen to buy dollars? Neither sounds like a good idea for Japan to me. Even if they do it, if the reason is to make their products cheaper to increase their exports, with the world economies hardly eager and growing I'm not sure if that helps. I guess it would help against their fellow exporter and rival China, who ties their currency to the dollar, however I think China will ultimately win in a currency poker game with Japan since they hold the cards with the Yuan, and Yen is available on the open market.

[Minnow]

I don't think the BOJ is actually doing anything but there are some weird movements in the fx markets today that could suggest some shifting in the currency world. If the yen becomes a better short than the USD... better to limit your equity exposure. (but I've been wrong in the fx world much lately).

I do like the macroeconomic points you made.

[Silverbird]

BOJ Actions:
"After an emergency meeting, the bank said it would inject 10 trillion yen ($114bn; £70bn) into the economy by offering banks cheap short-term loans...."
http://news.bbc.co.uk/2/hi/business/8387754.stm
:confused:[how can the loans be "cheap" when Japan's interest rates already are so low?]

[Minnow]

Good catch SB... there's a rumor goin' round that Japan is going to sell US Treasuries... methinks they're a little perturbed. If that happens... and it's a significant amount... yikes!

[Silverbird]

Selling U.S. treasuries would further inflate the value of the Yen. So its either buy or hold the pair of deuces that they know is a losing hand.

[Minnow]

I'd have to respectfully disagree with you there, Silverbird. They already bought those Treasuries... selling them increases the value of the USD... and weakens the yen... which, as an export economy, they would want.

Whether they do it or not is debateable. If they do it, I think they are basically taking a big shot at another sovreign that's a little closer to home... China ... whose currency is pegged to our dollar and an exporter as well.

[Minnow]

But, then again, they could sell the treasuries but then buy EUR... weakening both USD and JPY... I wouldn't put it past them. But, it's all just speculation and rumor right now. Nothing substantiated.

[Bullitt]

Forex Free week ends Feb 10th at Elliot Wave International.

Here's the link: http://www.elliottwave.com/freeweek/ss_currencies/default.aspx?code=40723