without streamyx u will be trading crap..

@ibrahimovic
the best knowledge u can get is by getting experience hands on the metatrader... its demo.. try everything and keep it realistic to your risk appetite.. just click around and you will know what it is for.

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Added on February 5, 2009, 7:48 pm@woodenus
xblade123 claims he's earning 1k monthly on what capital? if his capital is 10k i'm not surprised. But yes some prove would be nice elite traders like adam earns more then 1k (and he has shown prove to us) on certain months but even he has some months that he doesn't make.. no way can someone claim they sure win every month

This post has been edited by kelvin_tan: Feb 5 2009, 07:48 PM

To TXI.. he is merely asking WHY short GBP in the first place. You claim to be forex educated but why start bashing up ?? This is meant for discussion as he is asking why short GBP can't u answer? if not then dont bother posting as you are being unreasonable by asking ppl to short without reasoning.

if its based on TA... GU is considered bearish until it breaks 1.47500.. and price actions have been suggesting that it is on its reversal to 1.51.. I highly doubt we will see 1:1 on EUR/GBP..

its not about being allowed to disagree or not.. anyone would be pissed with the way you reply a simple question of "why short gbp? whats the reason ?" sure u can disagree as I myself have disagreed with adam on a number of occasions but we have a healthy discussion and not bashing up. YOU are fairly new to this thread but you are already bashing up an elite member who has PROVEN his forex skills to most of us here but you have not.

Simple words which I would think ALL TRADERS here will agree. Post your arguements on WHY do u think GBP/USD should be shorted and provide CHARTS if its based on TA and provide reasoning if its based on FA. No more bullshit talk PLEASE such as "this rally would not last" without reasoning.

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Added on February 8, 2009, 12:46 pmAnyway I believe the bashing should stop. This thread is for FOREX DISCUSSION. Please discuss and not bash. Equally same to the newbies. This is for FOREX DISCUSSION not forex SPOON FEEDING as some new members have been doing that. Those that read but do not understand are welcome to ask questions but we do not do spoon feeding.

This post has been edited by kelvin_tan: Feb 8 2009, 12:49 PM

@coldfusionpower
glad u agree with me.. anyway out look on ej and aj.. i'm going to short when it opens as there is a shooting star on h4 and stochs are very close to the oversold region. Fundamentally I have nothing to say out yet.

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Added on February 8, 2009, 2:32 pmanyway this is for sharing.. TXI bring up your arguements on this
http://www.dailyfx.com/story/currency/gbp_...3984341903.html

Edit:
after deeper analysis i think i'm shorting AU and AJ instead of EJ and AJ

This post has been edited by kelvin_tan: Feb 8 2009, 04:24 PM

@TXI
as usual you just mention it will bottom at 4k but no analysis and no fundamental reason for it. Let me give you my words then... DOW will reach 20k ! I never gave a time frame. I dont need to. I dont want to start any arguement but this is for discussion yet you are throwing all your predictions to us and are somehwat forcing us to either accept it or else we get arrogant remarks from you. Best of luck for you shorting GBP/USD.

@dreams_achiever
nice djia chart heh i myself lazy analyze

This post has been edited by kelvin_tan: Feb 9 2009, 12:38 PM

@TXI
u made 100 pips shorting GBP/USD good for u.. i made 100 pips longing GBP/USD also.. and another 100 from EJ EU AJ while you were replying about my talk about adam and eve. Hope u took profit before it went against you.

@golddigger
notebook definately is better then pda. But pda can be your backup at times where notebook is not convenient for you to carry around maybe during your lunch breaks or so. Anyway it depends on your trading method. If you are a position trader aiming 300-500 pips u dont have to monitor it all the time

@TXI
my reasons for longing GBP/USD based on george soros as he himself mentioned shorting GU is riskier then longing --- this is 1

DJIA is not breaking 8k which means GU will not be going back down so it can only mean sideways and up.

Nvm no point argueing with you. You trade yours I trade mine.

@TXI
As explained by cherroy regarding DJIA that is why it is related to forex. However you may not find it as a suitable indicator. I am not George Soros as I do not trade in the billions. BUT george soros has STOPPED shorting in the billions which slows down the downtrend of the GU greatly.

After yesterdays voting the trend may have chanegd but I stick to my standings that about 5 days ago till yesterdaythe trend has been an uptrend.

@selrahc
another site you could use is www.xe.com but that site is to see exchange rate only and no other information such as resistance/support etc

@ibrahimovic
just register a new account

@TXI
i beg to differ that we small traders cannot take 100 pips stop loss. It depends on are you a scalper or a position trader. Personally my stop loss is at 200 pips with my TP at 288 as I am a position trader. Heck i've even had -150 pips before it came +200. My point on Soros is he moves the market if he shorts as you said due to the volume he trades but since he has STOPPED shorting GBP/USD the movement downwards has been eradicated if not reduced significantly.

You mentioned "Dow moves on their own have no real bearing on the $ , Dow can go up $ can stay the same or go down or up . D moves down , if in panic times , $ may even go up as people go to treasuries. In normal times , no effect. "

Dow was at 14k when EU was at 1.61... now that EU is at 1.30 Dow is at 8k++. GU was at 2.00 when dow was 14k and now 1.49 when dow is 8k. No correlation? mere coincidence? I agree Dow DOES SOMETIMES move on its own though.

You asked us to short GBP/USD and during that time GBP/USD was at 1.48100 and it shot up to 1.49850 before it came down to the current levels of 1.48000. U mentioned small traders cannot take 100 pips stop loss. So what are we argueing about now? I assume you are also a small trader (correct me if i'm wrong) and you would have been stopped out because you couldn't take 100 pips stop loss. So why asking us to short GBP/USD ? your own system would have failed you and it doesn't necessarily accomodate other ppls trading strategies.


This is not meant to be personal or anything but even other forumers in this particular forex discussion have a problem with the way you express yourself although its not against the rules of this forums. As I mentioned earlier you trade yours I trade mine. Discussions in this manner will only lead to flames once more because we each believe in our own analysis but not debated properly.

Good day to you and happy pipping.

This post has been edited by kelvin_tan: Feb 10 2009, 09:11 PM

lol... we got some people that their accounts grow at the rate like demo man... kevlar from 30 > 1100 and jerry from 165 > 30 > 1450... and those are within short periods of time.. LOL ! .. they should be put as legends in this thread

@TXI
Dow was at 14k last year... same when eu was 1.61 and gu was at 2.. not few years back. I am merely showing the correlation of dow with eu and gu.

rstusa i believe you are clearly new to the term leverage. How can leverage be minimal risk? it is a double edged sword..

http://www.babypips.com/school/leverage_defined.html

read through this to understand leverage. it provides very good explanation on how leverage works with examples

that proves that u didnt read the website that i have given you. higher leverage requires u to "safe deposit" a smaller amount of your capital with your broker. 1:400 requires i think 0.25% compared to 1:200 which requires 0.5% so if ur leveraged 1:400 .. a $1000 position requires u to keep 0.25% of that position with your broker... if you are on 1:200 they require u to keep 0.5% with your broker..

Its not I dont want to explain to you BUT I DONT do spoonfeeding. Read the website and read the entire lesson on leverage (its only like 4 pages and so little words) I have provided and if you still dont understand after reading I will explain. You will get a better picture by reading the website as they provide graphics and also examples using charts. Their example is VERY simple as they give real scenarios for you to understand.

This post has been edited by kelvin_tan: Feb 11 2009, 10:39 PM

@howzsat
Well i can only assume that its me that you are referring to that I dont know how leverage works and how to explain it. You have explained it reasonably well in your post. I just dont do spoon feeding as I have bad experience with it already. Babypips.com explains it so well that its hard for people not to understand it unless they are very weak in english.

This post has been edited by kelvin_tan: Feb 12 2009, 09:57 AM

rstusa
oanda is cftc and nfa regulated with lowest spread compared with every broker i've seen (0.7 on EU yesterday night).

This post has been edited by kelvin_tan: Feb 12 2009, 10:52 AM

nope.. i've seldom seen it at 3.0.. like for now its at 1.6.. only during news release time i see it at 10-15 pips..