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
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) 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.
Which one of you nuts has got any guts? -- Randle P. McMurphy
... stupidity will always find a way. -- Nnuut
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
Which one of you nuts has got any guts? -- Randle P. McMurphy
... stupidity will always find a way. -- Nnuut
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!
THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
Tracker = Check my position
Which one of you nuts has got any guts? -- Randle P. McMurphy
... stupidity will always find a way. -- Nnuut
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