Still.. gonna hit 1.53, who knows ?

UJ is going down after touching 109.85.

retracement down or permenant down as in bear market

its not ab how good u r in predictin where it is headin... its d question of whether u make money from dat move?

i can forecast d movement for UJ bla bla bla... but i aint makin money... y? coz i sucks

LOL.

Juz found out shorting cross pair such tat GJ and EJ for long term is a very painful stuff. All the pips gains is juz for paying to the swap fee... Painful....

This is why I never bother shorting the Yen pairs, I just wait for big durian drop then I grab the opportunity. Even u are holding longs for big -ve pips at the end of the day the Roll interest will save u to BE may after holding for months and years.

This post has been edited by billytong: Aug 7 2008, 09:46 AM

Japan Machine Orders Fall Less Than Expected, a Sign Recession May Be Mild

from this news...can i say...Yen is weak and USD is strong...and GJ will go up?...comment please

still to wait and see ...market on morning is too many confusion

wait for news on 1pm ..then we perform the strategy

Stay out of GJ, it is UK interest rate decision today.Spread will open to 15-20pips. U dont wanna get caught on long @ spike or short @ rock bottom or get slipped 20-40pips.

btw u can try on Demo and have fun on GJ. Feel the pain of spread during rate decision.

This post has been edited by billytong: Aug 7 2008, 12:04 PM

i didnt know today is interest rate day..... -150 lol ~_~

my long term chart tell me possible down trend + GU is down...but the freaking GJ is up.....~_~

i recommend this calendar for chinese version it fast http://china.fxstreet.com/fundamental/economic-calendar

forexeconomiccalender.com for english

Now still not sure direction

btw if GBP keep the rate then what?

This post has been edited by cyaoping: Aug 7 2008, 12:22 PM

Yo guys,I am new in forex.Just signed up a demo account in GFS Forex Trading.

Anyone can recommend me some good forex broker besides GFS which is registered with the NFA and has a good pay track record.Thanks

By the way,where can I find news on the latest happening which will more or less affect the rate of currencies

http://forum.lowyat.net/topic/736380

Believe me or not those guys @ Center Bank of England, what they said in the meeting can easily invalidate all ur analysis.

ya i know...i see chart is down trend.....

only need 1 candlestick n i will know wether it is reverse or not.....just hope what they say dont form the candle im afraid of = ="

and because i trade long term....1 candle = alot pip >< so if i wrong = alot negative ><

and there will be 2 interest rate announcement later - -" ......lets hope no insane movement........

high possibility that EU and GU continue go down......the worst i think is sideway......GJ not so sure.....the trend is reverse from what i see....need to check 2 more day to confirm the trend.....

P.S

i hate news - -"

This post has been edited by dr2k3: Aug 7 2008, 01:35 PM

Trading in Forex is like

Respect the Fundamentals, Pay attention in the technicals & Look after your Money Management & risk/reward.

IMHO, for new traders, i would highly suggest trade shorter time period... onli trade longer time period if u can control ur emotion most of d time...

huhu ...dollar index is going long

apparently , Yen is going down ...

p/s bottomline ..patience will pay

close 1 position d... still left another 1...

lol i would say opposite instead

i tot should be newbie longer time frame and pro go for shorter time frame coz shorter time frame is very volatile and good for scalper

when i mean alot -tive pip doesnt mean alot $, it comes down to position size......

longer time frame u wont get trapped by false spike or news

longer time frame means bigger TP also means big SL......

i can aim for 150 pips easily and SL less than 100

shorter time frame so easy to hit SL and get false spike to flush u out of the market = more losses

This post has been edited by dr2k3: Aug 7 2008, 03:06 PM