wow..gbp/jpy got up to 214 lastnight? was hoping it would fall..luckily still on demo

normeck: a very nice swing there..

anyway...still very new to forex. Still learning to read all those indicators. Personally, Elliot waves and Parabolic seems to be effective..

just a quick question...what method of withdrawal you guys use? check? wired transaction?

Bloomberg just said that US stock markets are in red, and speculates that recession might be around Jun, or there would be a reversal. Also, there might be a rate cut by march. But for the time being, seeing from the charts..it seems to go short on EU. Will the relatively strong euro PMI index makes EU go bullish?

micro? how does your equity become $25.9K?

---

Added on February 28, 2008, 4:59 pmanyway..bout EU, just after the announcement by bernanke, i think the pair shot up to about 100 pips...anyone managed to make profit from the news?

This post has been edited by small-jeff: Feb 28 2008, 04:59 PM

just a little thought sharing as a newbie to forex:

Fundamental - long swing; suitable for weekly, monthly. High capital to avoid margin call.
Technical - short term; suitable for 15mins, 1 hour, 4 hours. Low capital; 30pips Stop/Loss not really that good. Risk to news release trades.
Fundamental + Technical - Mid range capital. Suitable for 1 hour, daily. I'd prefer this one.

Next most useful indicator:
WMA 5
WMA 20
WMA 100

Weighted Moving Average is more responsive than Exponential Moving Average. Good indication on price rebounce, and timing to enter/exit trade based on position of WMA 100 to that of WMA 5, WMA 20 and price.

just set your Weighted Moving Average with 5, 20, 100 (or that suits you best) and apply to your candlesticks (or what ever chart you're using).

Basically, WMA 20 is the slower MA, while WMA 5 is the faster MA. Crosses of WMA5-WMA20 indicates a trigger point. However, sometimes there are rebounce that occur, that is, a short period after crossing (say going bull), it rebounce and cross again (turing bear). So, WMA100 is to show the area of high possibility of rebounce. Usually, when the price is about 10pips to WMA100, both WMA5 and WMA20 would be heading towards WMA100, which usually seen as being bullish/bearish. However, pullback often occur at this point, where the price rebounce back.

Try using this and compare with EMA. Some might prefer using EMA, but i prefer using WMA.

This post has been edited by small-jeff: Feb 29 2008, 03:21 PM

normeck: i used it on close..

anyone looking at EJ? seems to be going bearish. it's testing the support level at bout 158.07...still, not candles closed below this level, only shadows..

hm..i'm thinking of getting a live account. normeck, when you withdraw thru wire-transfer, they charge you $40? quite an expensive withdrawal. Anyway, anyone live on fxcm? it's a direct $1 = $1 ya (where 1pip = $1)?

bout the GJ chart you posted, it seems like it'll going to bounce off the slower MA. Since the slowest MA (yellow) is so high above, i'll say go short all the way, until there's a definate crossover on the purple and red MA (if your yellow MA is set at 100, and the price is bout 10-20 pips to the MA100). but then, i might be horribly wrong.

i'm planning to use mini acc on FXCM. considering 1 open 1 lot, 1 pip = $1 ya..btw, how to direct transfer to maybank? i have maybank2u, but still couldnt figure out how to transfer for deposit and withdraw..

jsut got back home..GJ did continue bearish.. hope i'll be lucky like this everytime

This post has been edited by small-jeff: Mar 4 2008, 07:49 PM

hmm...i'm having some problems with setting limit. each time the price went thru the limit, it wouldnt close the position, which i ended up losing. however, SL works fine though, which makes me lose as well..

yesterday's was bout 10 pips over the limit, the other times, reached over 20 pips still not closed.. i think maybe my connection not that good, sometimes i lost connection, maybe that's why it wouldnt close the position when limit is reached.

summary: try not to use weak streamyx!!

what happened to USD? got so weak from 1800 local time...everything went super long against USD..

hm...i'm still wondering...would $1k be just good for a mini acc..at fxcm, margin required per $10k lot is $50. So, I'll need to lose 950 pips to get margin call. Considering i lose 50 pips per trade (which is very hardly, unless i'm asleep), i need to lose 20 trades continuously. So, you guys think $1k for a mini is good? It's for a 30 min trade anyway, not for swinging.

i heard that some forumers here are using fxopen for a micro ya? no problem with m2u?

seeing on how my friends trades, which often losses, it seems that they might have something in common.

1) due to stop loss (inappropriate SL for inappropriate time frame)
2) chasing market too closely
3) unable to identify price bounce and crosses

anyway, USD is at the weakest point against EURO for the past decade or so. any insights that EU will go bearish anytime soon?

well..from my indicator of a 4h chart...the price is expected to bounce a little. It might hoop and bounce on WMA20 for another 2-3 times till the next crossover. But..for it to reach 213.xx...it'll take kinda long time..assuming it does bounce back up.

---

Added on March 8, 2008, 10:20 amp/s also take note that MA-s are converging on the 4h chart..good time to hedge (maybe on monday)?

This post has been edited by small-jeff: Mar 8 2008, 10:20 AM

ever tried reading articles on www.investopedia.com? quite resourceful too...

hmm...i've been testing on the difference on WMA and EMA. i used a period of 5 on each indicator (close). when the price goes bullish and bearish, both lines shows converging and diverging respectively. during reversal, both lines are seperated with greatest width. anyone interested can have a look.

GJ is at the lowest point of its support at 100. It even reached out to 99.xx on friday..i believe it's time to go long, sit and wait...for a long time..

ops...i was mentioning about UJ...not GJ..UJ will continue to go south? hmm..it's already at its record breaking low...

---

Added on March 17, 2008, 8:55 pmwow...UJ dropped below 96.xx...is greenback doing really that bad??

---

Added on March 17, 2008, 9:07 pmthe spreads are very high...havent read the news lately..any idea what's causing this?

This post has been edited by small-jeff: Mar 17 2008, 09:07 PM

guys...i'm having some trouble trying to exit a losing position. From what i've experienced, using SL aint good at all. I usually close the position manually when i believe there's no rebounce or strong pullback going to happen soon. What do you guys use to exit a losing position?

see from my past trades, i lost bout 160 pips!! a little too late..

haha..not feeling sad cause i lost 160 pips..was just wondering if there's any better way to indicate trend reversal, or at least being able to identify that the trend aint going to change its direction anytime soon..