QUOTE(nshady @ Apr 2 2011, 01:05 AM)
I fail to understand regarding fibonacci retracement. Anyone can help me ?
Sure, which part of it not understandable? The price cant just move one way forever, it needs to be retrace to balance up the supply and demand curve.
Elliot wave on wave 2 and 4 from babypips explain it quite well with examples why it retrace if that's what you are looking for.
Source:
http://www.babypips.com/school/the-5-3-wave-patterns.htmlhttp://www.babypips.com/school/fibonacci-retracement.html
Added on April 3, 2011, 11:03 pmQUOTE(Hunz @ Apr 2 2011, 06:30 PM)
i'm not too happy for now because i misplaced a sell on EU on friday.
I scare by Monday it suddenly spike up until no return

I feel you man, last time i did a mistake by placing a pending order WITHOUT SL and TP and overlook to delete it since my chart were too messy. Went to sleep that friday night, when i login to check again on weekend, i can't believe the order got triggered and i'm losing -30+ pips already. Can't close it since it's weekend so monday i woke up, it's -50+ pips by then and that moment was so hard to eat it up but i did close it eventually. The rest of the day, it went +75 pips IF i didnt close it. Damn geram...
QUOTE(MoneyMaker prince @ Apr 3 2011, 02:00 PM)
Hey guys, can you help me out here?
Not long a go, a bunch of my friends were discussing which investment is the best for fresh graduate. One of that suggested that forex is the best. He said that he knows the way to GUARANTEE earn by aiming 1 pip everyday if u have the money.(I dont know how he did tat even though he explained to me as I dont believe in such a way). I have gone through alot of books and seminars. Mr Milan doshi stated that forex is the high risk investment and only suitable for the rich ppl. Mr Robert Kiyosaki and Mr Donald Trump dint encourage people especially the fresh graduate to enter the forex market. My idea is to become a savvy investor we have to know the games we play. Ex for forex we have to know the money flow of the country with tonnes of study to do. But according my friend, his way does not need to study and jz a click of the mouse will make you earn.
All the master, can you enlighten me on my friend's statement? So that next time I can explain to him forex is not that easy as he thinks. Below are my doubts:
1. Is there really tat easy to earn in forex? I mean with the fluctuation and hardly predict flow of money.
2. Is this the type of investment suitable for fresh grad?
3. For those who oppose the idea / someone who active in forex, can u tell me the pro & con in forex?
Thank you very much

Your friend probably doing something that broker hates a lot and consider illegal. I think he's placing his trade by comparing 2 broker data price feed (usually a faster and a slower connection broker). By timing it nicely, he will know the price of the faster broker and take advantage on the slower broker. Such act will usually get caught in 1-2 weeks.
To me, that's just cockroach act. Tell your friend to learn how to trade properly.
http://www.babypips.com/school/what-is-forex.htmlhttp://www.babypips.com/school/advantages-of-forex.htmlWhy not you setup a free demo account and learn from there?
Bottom line: $ easy come, $ easy go.
This post has been edited by FxPlayboy: Apr 3 2011, 11:03 PM