Yes u can do that but if u sell euro like @ 4300 or buy euro @ 4900, u will more likely that u will never get +ve, I still think u should study some fundamentals b4 u take a trade.

As you can see last week I said euro is overbought, and it corrected 600pips down. Now it is time to get back into long between 4300-4400.But I will long very caution.

This post has been edited by billytong: Jan 22 2008, 09:22 AM

Ya u may be "right" but look at what the euro @ now?

Those who longed between 4300-4400 I said b4, they are laughing all the way to bank right now.

3 longs profit taken, leave 2 longs open, I am laughing all the way to bank now.

FED surprise cut US interest rate by 0.75%, thats the largest single cut since 1984. (If I'm not wrong for the year)

What will happen on this surprise cut? USD will go down. In this case EU is flying up. But not too sharp, europe has their own problems. Once their problems come out and surface(may be a few months future), I would say EU will come back down to break below 1.4300.

The market right now will be focusing on the Jan 30th FOMC meeting. I expect we can get another cut by 0.25-0.50%. Follow by what the FED president gonna say. It is their comments that will determine whether USD & USA is going to funeral(recession) or not.

UJ is still running steady due to stock going up today.

USD rate cut = USD negative, Stock going up = JPY negative = negative * negative = USD/jpy will not go any where far.

Try to look at eur/jpy, it bump 400pips in 1 day.

The EUR/USD, I'm not convince on the bull strength, With a 0.75% cut from FED, yet the bullish is not as strong as last year. I can feel there is a downside risk.

I took profit on my 2 remaining longs, banking in 306pips.

Today I will do some long scalping,playing intra day.

I think it is more like that officer that giving trouble to him want some duit kopi.

Probably that officer think ur fren is a student and it is a "noob" in legal/laws etc. So he just take up the advantages and charge ur fren.

with Solid prove + statement I cant see why there is any problem unless ur fren didnt do the correct procedure.




PS: I have added one euro short @ 4764 on a swing basics.

This post has been edited by billytong: Jan 25 2008, 11:23 AM

Whipsaws only hurt you when u trade larger % positions than your account (hence over leveraging). For your information, weeks ago I closed my 4377 short for profit that was opened back in December. I allow that short go negative -550pips to 492x then let EU come back down to let me close it for some profit. I have no reason to take loss if I know the range of EU.


I taken profit on my euro short, about 40+pips. (couldnt remember the exact number)

Now I will be looking for a caution long @ Monday if the market fundamentals are not going to change & a euro short on top after the rally.


Ps: Any long above 1.4600 must be taken very caution. As for euro short, unless the ECB stop being hawkish, otherwise the EU gonna keep pointing north.No short in my mind until >475x. But I am pretty sure EU will come back down to 1.43 in the future.

For GU, you only can play short(swing basics) if you want to play long, I prefer you play EU or something else like AU, NZD.

xxx/jpy pairs, look at all the stocks, if the global stock up, xxx/jpy pairs will generally go up. Pay more attention on Dow Jones, FTSE.

I have no offense on that website, but I prefer that you guys should get MT4 from the original site.

Again, I have no comment on north finance, but that broker is regulated in Cyprus. I have doubt in how strict cyprus regulatory can be. Get a broker that is regulated from a stronger country like UK, USA.

When u trade, the safety of your money is ur main concern. I suggest you use a more reputation broker than a Cyprus one. Seriously a little bit diff in the spread wont matter much. If really care about cost, then the speed of the execution is most important, I dont like to get slipped.


I use fxcm & oanda.

About crownforex, I head somewhere that they are not as good as the best brokers out there.

I would prefer Interbankfx more than crown.

But Interbank is a shy, if you are comparing with the bigger ones like fxcm, oanda, GFT, dbfx.

brokers like fxcm & oanda can fill ur position right on the spot. Especially Oanda.

The only downside of oanda is 50 leverage + no hedging.
My Friend, I suggest you dont trust AI. We humans are smarter than machines.


Those who long days ago would be happy by now. I'm banking pips this morning from the longs back from 467x-471x.

I would expect EU drop some during this afternoon.

This post has been edited by billytong: Jan 29 2008, 09:31 AM

That is base on my past experience in Eur/Usd price action & behavior. And there is what the minor drop during afternoon I was talking about when euro was @ 478x yest 9am.

Fundamentally : Fed will be cutting midnight >2am most probably will be 0.5%

A 0.25% cut will send the euro down.
A 0.50% cut will send euro up a little.
A 0.75% cut will send euro sky rocket.

Right now, the key level is 4750, 4733, the euro must hold on top of these 2 levels to keep its bullish status & I'm looking for key levels 4802,4811,4822 for further bullish. I am slightly bias to euro long, but I long very caution. NO additional EU short in my mind yet, but I will not hesitate to add short if I see euro running out of steam.

As for brokers, this is the reason why I strongly suggest you guys looking for the biggest brokers, and dont stick with one only. I am using FXCM(Forex Capital Markets) & Oanda, both of them are the largest in fx broker. Check www.cftc.gov, view financial data for FCM.

I hope you are not over leveraging my friend. One mistake can easily wipe all your income.

Keep the leverage, just dont use more than 5% of ur margin each time.

If ur acc is 1K u only use max 5% of 1K. Hence 50 USD.


For others that are using 200 leverage or less, ur margin usage should be below 10%. This is a common practice for all forex traders. Check the risk management/ money management from places like forexfactory or other forums. Those experience trader will tell u the same thing.

Especially when you start earning mega profits from the broker. They will show their true evil face.

Why? Because most broker know that 90% of the traders lose money, so they take opposite of the trade of what you take. Thats the only way the rob your money and make money.

There are quite a number of broker I read in the forum do this. I suggest you quit them and go for the big ones. The big ones never do this because they have big clients + they charge quite exp on spreads. Thats where there earn money. OR you can just go for ECN commission base brokers such as dukascopy or interactive brokers.


but then, for those brokers may be someday I'm rich & much more skillful enough that I might open one acc with some Game money and start making killer ROI to rip them off with GbpJpy.

This post has been edited by billytong: Feb 1 2008, 08:28 PM

Study the fundamentals my friend, With money management + risk management + Fundamentals + technies = Killer ROIs.

Because they add another thing call "Emotion" which screw up the equation.

If you are going for FXCM, open HSBC acc, they are base on HSBC bank.(except FXCM USA branch for USD which is base on Bank of America) I like this because I dont get interbank fees charged when my money go there. I tried UOB and bankwired to my FXCM acc, I dont get the exact amount I bankwired, they had minus some money just to transfer between diff banks.

FXCM US branch For USD account use Bank of America only. If you open Eur/GBP or other currency in USA branch they still use HSBC.

Yes u can open acc in FXCM UK or other branches. I suggest u go and check their website/ deposit fund & get the clearer picture.

This post has been edited by billytong: Feb 3 2008, 02:22 PM

First of all, I dont use stop loss, because I can easily make back the money I loss should I take wrong direction trades. I have close a few trades that go -negative 100 to 600 pips then come back with profits when EU come back down. But then thats my style of playing. I only take loss when I think I should. For news, it is either I take a trade @ good price b4 the news or when I see some opportunity 5-30minutes after the news, I usually dont take a trade WHEN the news come out. And what is PO?
Like I said in Long term GU is going down.BOE will be cutting rates. But I dont play GU much + the USD is still crap, FED also cutting rates so both GBP & USD is weak.
So @ 1.96xx I wasnt confident to short it. But if above 2.00 YES, GU isnt worth more than 1.97
It is 300 not 250.