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Thread: FOREX trading

  1. #1

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    Default FOREX trading

    Quote Originally Posted by mlk_man View Post
    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
    Last edited by Spaf; 09-27-2006 at 10:57 AM. Reason: Repair quote


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  3. #2

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    Default Re: FOREX trading

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

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

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  5. #3

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    Default Re: FOREX trading

    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

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  7. #4

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    Default Re: FOREX trading

    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!
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    100%- I Fund

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  9. #5

    Default Re: FOREX trading

    Thanks!

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  11. #6

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    Default Re: FOREX trading

    Quote Originally Posted by Frixxxx View Post
    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

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  13. #7

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    Default Re: FOREX trading

    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.
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    100%- I Fund

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  15. #8

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    Default Re: FOREX trading

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

    http://www.elliottwave.com/freeweek/...spx?code=24294

  16.  
  17. #9

    Default Re: FOREX trading

    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


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  19. #10

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    Default Re: FOREX trading

    Quote Originally Posted by ExtremeWX View Post
    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!
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    100%- I Fund

  20.  
  21. #11

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    Default FOREX trading

    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....
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
    Tracker =
    100%- I Fund

  22.  
  23. #12

    Default Re: FOREX trading

    Quote Originally Posted by Frixxxx View Post
    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

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