FOREX Corner v 5.0, FAQ|Technique Sharing|News|Broker
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 Feb 22 2009, 11:57 PM
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#41
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Senior Member
4,030 posts Joined: Apr 2008  
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Like many sifus around the world will tell you, FOREX ain for kids; especially kids without FA knowledge, and claims to be from investment banks.
GU to 1.30!!!! LOL...i'm having a laugh.... This post has been edited by AdamG1981: Feb 22 2009, 11:57 PM |
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Feb 23 2009, 10:08 AM
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#42
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Senior Member
4,030 posts Joined: Apr 2008
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Yes, you gotta start somewhere, but better start from stocks. If you can master the charts for stocks, you can speculate on more complicated instruments like options, futures, and forex. But before anyone should jump into forex, he or she should read plenty of books and real live trading using 1000 units to gain experience. Demo, not my style because its fake money. When you are using real money, your mentality will change to defend your capital. That's when the real learning start.
FA + TA = Success with higher odds. |
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Feb 23 2009, 05:53 PM
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#43
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Senior Member
4,030 posts Joined: Apr 2008
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QUOTE(Ibrahimovic @ Feb 22 2009, 10:44 PM) lol, I know a lot of people who treat demo like playing games. but after reading alot of books on forex like Mark DOuglas, John Carter, John Murphy, Dr. k Tharp, Kathy Lien, and Steve Nison which all within this month (I'm a STPM grad with nothing to do 24/7) I have good grasp. Of course, forex is very dependent on daily news, any news that involved any central banks, any government plans will change the market sentiment. It's a fast game.I treated demo like my own with only risking 1% of the 3k demo money. The only thing I lack here is experience. Is it really tough doing trading? After a month on demo, the I only got 3 profit with almost 15+ losses. It really suck.  |
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Feb 28 2009, 11:44 PM
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#44
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Senior Member
4,030 posts Joined: Apr 2008
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QUOTE(orangysb @ Feb 23 2009, 05:02 AM) You're not pointing out the flaw, you're pointing out the limitation, and i'm sure we all agree that an automated trading system is just that, strictly programmed to do what it's told, i'm not disputing its limitation, what i'm saying is criticizing EAs as simply for noobs disregards its usefulness. A limitation is still a flaw. No matter how you see it. Why do I say EA are for noobs? Because many users that use it believe it can generate income without putting the time and effort and therefore are those guys noobs?. Those who creates the EA are good traders since they actually put in effort and time to observe the market before programming the EA and selling it. Anyone in this room actually has traded using EA and constantly tweaking it to follow the evolution of the market? I doubt it. Saying the limitation is a flaw is like saying cars suck because they can't fly. Your example seems to be pointing out the strength of an EA rather than its weakness, if there's a sudden super bad news released and the price moves against you abruptly, your EA would save you by recognizing the change in trend and cut your losses early, which wouldn't be different from you trading manually with stop loss orders, but if you were trading manually without any such orders and you failed to respond quickly or were busy doing something else, you're screwed. If you are trading manually, you should be observing constantly on your trades. DO one actually trade without looking at the computer? I don't and its not advisable. Human judgement is still the best. This post has been edited by AdamG1981: Feb 28 2009, 11:50 PM |
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Mar 19 2009, 07:59 PM
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#45
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Senior Member
4,030 posts Joined: Apr 2008
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Thanks kelvin. Like i said, one day usd will melt. And this is only the beginning. Where's my good friend TXI? GU to 1.30? LOL.....bring it on buddy. You ain no match for my skills.
This post has been edited by AdamG1981: Mar 19 2009, 08:00 PM |
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Mar 20 2009, 11:33 AM
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#46
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Senior Member
4,030 posts Joined: Apr 2008
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QUOTE(dr2k3 @ Mar 19 2009, 08:07 PM) u were just merely stating the obvious..... Haha, well our buddy TXI said going down to 1.30.  when it's our date to the mamak... haha still owe you teh ais.  Added on March 20, 2009, 11:34 amBut my friend, actions speak louder than words. How many people willing to trade before FOMC? This post has been edited by AdamG1981: Mar 20 2009, 11:34 AM |
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Mar 20 2009, 11:43 AM
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#47
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Senior Member
4,030 posts Joined: Apr 2008
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Dr2, i graduated as an economist, so it gave me an upper hand in forecasting what the fed will or not do. That day, Ben went and gave live interview and said he sees green shoots of the economy recovering. No one expected FOMC to come out with purchasing 300 billion T bills.
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Mar 20 2009, 11:44 AM
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#48
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Senior Member
4,030 posts Joined: Apr 2008
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QUOTE(dr2k3 @ Mar 19 2009, 08:42 PM) just curious.....did he bet himself...or just rather speculate on words OF course i traded the news. Just ask Jeffrey. I am still holding my AU longs. |
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Mar 20 2009, 08:52 PM
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#49
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Senior Member
4,030 posts Joined: Apr 2008
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Sometimes you need to read people then you can make money.
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Apr 10 2009, 12:24 PM
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#50
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Senior Member
4,030 posts Joined: Apr 2008
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MPH, i closed all my au; aj positions.
 Good luck bro. See you laterz |
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Apr 11 2009, 12:20 PM
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#51
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Senior Member
4,030 posts Joined: Apr 2008
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Minimize trades to maximize profits. My advise for you guys.
The more you trade, the more likely you will LOSE. This has already been proven many many times. For those who work @ investment banks, at least they have more tools than a regular trader; that's why their chances increase greatly due to bigger capital and very comprehensive FA reports. This post has been edited by AdamG1981: Apr 11 2009, 12:21 PM |
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Apr 11 2009, 01:10 PM
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#52
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Senior Member
4,030 posts Joined: Apr 2008
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Scalping is for experts. Please do not try this at home.
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Apr 14 2009, 10:55 AM
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#53
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Senior Member
4,030 posts Joined: Apr 2008
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Yen and usd pairs should be coming down.
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Apr 21 2009, 02:45 PM
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#54
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Senior Member
4,030 posts Joined: Apr 2008
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Long EU, TP 1.33
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Apr 21 2009, 03:07 PM
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#55
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Senior Member
4,030 posts Joined: Apr 2008
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QUOTE(z2forex @ Apr 21 2009, 12:04 AM) How long do you think we'll get to 1.33? Before FOMC @ April 29th. |
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Apr 21 2009, 03:38 PM
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#56
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Senior Member
4,030 posts Joined: Apr 2008
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QUOTE(z2forex @ Apr 21 2009, 12:30 AM) Wow, that's very specific. Thanks, man Three main reasons:a) Trichet and gang are closed to setting a limit to how much Euro Zone IR can decreased to. Most likely, it will be 1%. b) Euro Zone economic data will show a rebound abeit slower than the rest of the G7s. However, this has been priced into the EU's current price. c) Federal Reserve is going to melt the dollar further by buying more T-bills. This will force the dollar to decline. Added on April 21, 2009, 3:43 pmOh, and when everybody screams SELL, I usually buy. This post has been edited by AdamG1981: Apr 21 2009, 03:43 PM |
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Apr 21 2009, 05:03 PM
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#57
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Senior Member
4,030 posts Joined: Apr 2008
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German Zew Sentiment came in at 13. Time to cover all EU SHORTS!
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Apr 23 2009, 02:03 PM
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#58
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Senior Member
4,030 posts Joined: Apr 2008
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OOPSS!!!! Did i hear GU going down to 1.30 before June?? LOL.......when GU goes up to 1.50, the magical number of 1.30 never appears. When GU declines rapidly to 1.44, suddenly its the end of the world.
Even EU is faring worst than GU, and yet it's still holding the magical number of 1.29. This isnt the end of GU, its the beginning of the end for the US DOLLAR. Added on April 23, 2009, 2:05 pmOH, and is DOW going to hit 5000 anytime soon? LOL.... This post has been edited by AdamG1981: Apr 23 2009, 02:05 PM |
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Apr 24 2009, 10:38 AM
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#59
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Senior Member
4,030 posts Joined: Apr 2008
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Forex is not for everyone
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Apr 24 2009, 05:49 PM
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#60
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Senior Member
4,030 posts Joined: Apr 2008
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Z2,
What is your time frame for your trade? If its intra day, you can take your multiple point profit off the table. If you are waiting for FOMC, you have couple of days to go. The stress test might be a reason why many would take profit now. I have three lots for AU, 2 @ 71.25, and 1 @ 71.60 My tp is 73-74 |
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