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Thread: FOREX trading

  1. #37

    Default Re: FOREX trading

    Quote Originally Posted by Frixxxx View Post
    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.

    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.

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

    Steve

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  3. #38

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    Default Re: FOREX trading

    Quote Originally Posted by sdouglas3 View Post
    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...
    Which one of you nuts has got any guts? -- Randle P. McMurphy
    ... stupidity will always find a way. -- Nnuut

  4.  
  5. #39

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    Default Re: FOREX trading

    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?

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  7. #40

    Default Re: FOREX trading

    Quote Originally Posted by fedgolfer View Post
    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

  8.  
  9. #41

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    Default Re: FOREX trading

    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

  10.  
  11. #42

    Default Re: FOREX trading

    Quote Originally Posted by Minnow View Post
    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.
    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

  12.  
  13. #43

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    Default Re: FOREX trading

    Quote Originally Posted by sdouglas3 View Post
    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?
    Which one of you nuts has got any guts? -- Randle P. McMurphy
    ... stupidity will always find a way. -- Nnuut

  14.  
  15. #44

    Default Re: FOREX trading

    Quote Originally Posted by Minnow View Post
    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

  16.  
  17. #45

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    Default Re: FOREX trading

    Quote Originally Posted by sdouglas3 View Post
    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


  18.  
  19. #46

    Default Re: FOREX trading

    Quote Originally Posted by fedgolfer View Post
    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

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  21. #47

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    Default Re: FOREX trading

    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

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  23. #48

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    Default Re: FOREX trading

    Quote Originally Posted by Frixxxx View Post
    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.
    Which one of you nuts has got any guts? -- Randle P. McMurphy
    ... stupidity will always find a way. -- Nnuut

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