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.

excuse me, as what u said tis is a forex thread. not an argument forum,man.
don spam and dirty it txi. GU is having an ascending triangle but resisted around 1.49. It's dangerous my advice to other forummers.

So you mean its not loss but it just selling when the price is not at its peak yet? What do you mean both way can profit. I only know that buy low, sell high not the opposite around.

I'm really sorry being a noob but after reading hell lot of article in InvestoPedia and BabyPips, I think I still way short of trading.

By the way, the EA I currently use changing from 900 profit to -40. I think I should use another EA until I figure out the real way to trade. Forex is intriguing but hard to master. Full respect to you all for trading like pros.

This post has been edited by Ibrahimovic: Feb 7 2009, 12:13 AM

hm..my little opinion. Based on the movement of Treasuries since last week of Jan-09, as well as the recent rate cut by BoE along with its horrible prints of economic data, and of course the performance in GILT, i wouldnt really want to short GBP anytime soon.

Ibrahimovic, just try execute your trade on demo acc and see if acc balance grow. if it does, then just repeat..

if your account able to grow steadily, then 1 - 2 months more you should test the trading method on small real account.

Profit both way in forex means:

In Stock market, most people only make money if the stock price goes up. Example: Stock #1234 (Lyn.net) Rm1.50 shot up to Rm2.50.
That's a unrealize profit of Rm1.00 not including the commission fee to broker. This is known as BUY/ LONG in forex.

If that stock #1234 suddenly drop from Rm1.50 to Rm0.50 , you will lose money in Stock market if you sell your position. Unless you do SHORTING in stock market, which is to borrow the stock now from your broker and sell it back when the price roses back. This SHORTING is different from Shorting in Forex.

To summarize: In stock market, you profit when the stock goes up only. But in forex trading, you are make money whether the stock(Currency Pair) goes up or down. To make money if the currency pair goes up, just Long(BUY) , to make money if the currency pair goes down, just Short(SELL).

FX is more fun than stock market

oh.. heres my opinion, forming top is likely..



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anyone going fer ATIC?

whats that?

lets see what H4 said .....


p/s: i just reopened back my platform and the price goes up more .. ... nvrmind . wait till next week ..

at last some people actually talking about FX trading instead of marketing .

Like Jong said , GBP is forming a top , wait for the double triple top etc , then put a nice short order on.

GB economy is fundamentally flawed , GBP rise due to market agreeing with BOE lower rates but whether that will be enough to lift it , I very much doubt .

So due to that , won't be long before we see 1: 1 GBP : Euro , and $/GBP below 1.3 , and we will see RM/GBP below 4.5 before the bottom.

Just my pov , what happens we'll see.

---

Added on February 7, 2009, 4:45 amNB : In Asian markets you cannot short stock , but in regular times in Western markets you CAN .

IMV, stock movements are less quote volatile but still trend both ways , whereas FX is controlled by the banks + have a LOT of quotation volatility.

But relax , I encourage you all to do what you like doing .

Just my pov . ha ha


This post has been edited by Txi: Feb 7 2009, 04:45 AM

agreed dude please take any potential arguments elsewhere, it kind of bring down the forum a notch from healthy fx money making dollar seeing lust

well the other thing that i recently saw which was quite interesting is to trade when major news are released, like NFP for US yesterday i think.
it went the other way but when you're trading USD pairs it does setup some nice short trends which you can follow for short profits.

any of you pros want to chime in and tell me how dumb that is?
i know it's risky but it's still a rather good looking piece of profit that can be made in a very short time.

Ah, I get it now , I think I just misunderstood the words. Thanks. I will be reading 'Trading in the Zone' , van Tharp books and another methodology book I don't decide yet on.

One last question, I download Metatrader but the current account is losing lots of money. How to open a new demo account and how to change the leverage as it seem I can't change it once set.

yerp..i saw divergence there ...AO is roxx

If you do monitor where the money is going, you wont be saying GBP is fundamentally flawed. This also include the movement on Euro, USD, and Yen. About the chart, you would like to look at the time frame, it's 1H.

On both technically and fundamentally, i see no reason for GBP to go bearish, especially against USD. If you're saying it's a merely correction move, then probably. However, making a new low, i seriously doubt so.

Just my little opinion

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..

Keep on say GU. I change the topic to EU.


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UJ daily


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GU daily.


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usdchf weekly wrap up

whole week appeared to be a ranging trading area. next week will be key point for usdchf


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