@passyson thats a noble idea in having a central place where we can share information and help traders make money collectively.I am still trying to develop something which i think will be benefitial to all traders,a place where we will be giving each other information,tips and signals. We dont need to be selfish on one another and its something where we can all benefit and minimize risks where neccesary. Hilo ni wazo safi sana.

@NGAATU

GBP/USD meltdown in the NY session is imminent especially noting that the retail sales report was not that bad as compared to the BOE unemployment report and inflation rate. I am currently short on GBP/USD with 56 pips already. I am targeting at least 80 pips in this session.

Ngaatu...the USD/CAD pair will always be peculiar. I am currently waiting for the inventory report at 5:35pm although i am already long on it. If S/L are hit so be it. That will give me a definite idea of where the pair is heading based on oil. I am also shorting the EUR/USD pair.

Something else Ngaatu...the SK page is really taking long to load...any idea why this is the case?


Anyone who lives within their means suffers from a lack of imagination

The inventory report is actually USD negative and oil positive BUT the gasoline demand in the US is down so this discrepancy might be a rallying point for the USD...am still long on USD/CAD.

Anyone who lives within their means suffers from a lack of imagination

@Ngaatu...just liquidated GBP/USD position @117 pips. USD/CAD was not looking bright so i closed it at 20 pips loss. I am now short on EUR/JPY for next hour or so. MR. Warmonger has just spoken (Bush) in the lines of him expecting Russian troops to leave Georgia and a US cargo plane is enroute to Georgia...


Anyone who lives within their means suffers from a lack of imagination

Morning fellow traders...

Nice to see your treasured input so early @ tonicasert...

My pick for today is NZD/USD...i am long on it based on the PMI released earlier today which came at 48.8 better than the expectations of 45.3...USD data yesterday was also not good and also the pair has already hit the resistance of 0.6971....I will be long on it at least for the london session.

Happy trading all!




Anyone who lives within their means suffers from a lack of imagination

@Suraya,

In the morning especially after the London Market opens at about 10 a.m. the movement is generally mono-directional. Perhaps this is because 70% of all FX transactions happen in London so it is difficult for small players to spike the market this way or that.

@ Kilabe,a money manager is someone who manages other people's trading accounts (in FX,your clients will not be giving you the money - they deposit directly with the broker).

To become a money manager,you just need to be able to provide one year's trading statement (I can already feel guys in this thread trembling)

I have access to about 800 clients who would like money management services but I am contractually prohibited by FXCM (as we are their local support centre) from managing these accounts.

By the way,why are you guys so afraid of sharing your account statements?

@Alala...as i have said before,Forex trading is not supposed to be a selfish venture. There is a lot of money to be made out there even if we had all Africans trading in it. To tell me that the catch will be "only FXCM account holders will be allowed to blog there" smirks of ulterior motives.

I cannot see myself hoarding information that will or might help other traders just because they do not belong. I earn my money from forex and i would want anyone who is trading to do the same.

Personally,i am not interested in being a money manager. I prefer doing my own thing. At the same time,i look foward to exchanging views with like minded traders in here.

On that note,@ tonicasert,Ngaatu et al...seems like my NZD/USD pair aint moving that well as expected. Might be forced to carry it over to the NY session and see whether my S/L will be hit or not :)


Anyone who lives within their means suffers from a lack of imagination

@alala
I think thats a prudent idea but i think it will suit FXCM guys and the genius members!
I also do think its disrespectful to say that people are trembling because of one year experience,with information circling here around its evident there are blokes here who are much informed than the you guys.Maybe you have an edge cause of managing big funds but with information and skills i think we have the guys fit enough around here( you know them).
That FX BLOG was already proposed and it was to be with all guys here so maybe we will wait that @passyson,@ngaatu @tonicasert @kim007 e.t.c will create as we think that will be having wise informed people. Guys in forex do not need to be selfish if you have information just share with all as they will benefit and learn more skills. Having a lot of people in a place is not neccesarily having the right informed,maybe we could prove this with time.I dont have an FXCM account and am not desiring as i am satisfied with my forex.com account.
dont you have enough money managers at your place? or cant you recruit from your trainees which i know most of them are half baked and you want to tap from these blokes skills.C'mon we need to respect each other not boast and in real sense we have deficiency in skills and info.
Regarding the EADSS system i think it was the best existing in all conditions. Thats why techicals and fundamentals will always be advisers and people giving direction and analysis in big institutions and firms,they are always dynamic.

WE ARE WAITING FOR A GENUINE FX THREAD POSTED NOT FOR FXCM,I THINK GUYS ARE WITHIN THAT PLACE.@ngaatu,@passyson & co continue giving us information,we are benefitting a lot.

HARD WORK,HARD WORK HARD WORK

@All,

Got the point. I will not tie it to FXCM.

@All and Kilabe especially

I was just wondering why FX traders like hiding their account statements. If we want Kenyans to know the Realities of Forex Investment",don't you guys think we should be more open? Just asking humbly. Can we discuss this matter because this is the elephant in the room?

The public is saying this: The elephant in the room is that FX traders are telling us how good FX investment is yet they are hiding their account statements. How well are FX Traders really doing?

@alala

Its good you've got the decision from majority.But i think FX guys in SK currently will be waiting for the thread in the site which will be created by the likes of passyson,ngaatu,toni and KIm007 i think most guys have faith in their information;for those who will be in your FXCM blog a good chance for them to communicate with their colleagues.

About the 'elephant and a person revealing statement of accounts",we should not deviate people,this forum was an approach for reality in all those who want to invest and its basically the reality. I think everybody makes losses and profits in this trade and thats why we want all of us to share the information of P&L without fear and correct ourselves.

For those guys who want to manage people accounts i think they are the ones who are obligated to show investors their accounts,i think it will be boisterous and naively for a individual trader to show his accounts in public to prove that he is making or making losses,those are normal things. I am trading with an account of 8000 currently and i am making and at times losses so why should i show it to public???? and i am comfortable and dont want to manage other guys accounts cause am building my account slowly to my targets.Simirlaly a previous account statement perfomance may be a key to dupe people as historic perfomance isnt the future perfomance so as long as it is good to show it it may be used as a bait to get people as they will have a perception a person live accounts has been doing good before and yet the systems are collapsing and making losses. I can tell you most of those who lost were shown nice perfoming live accounts but they were in a shock when things went opposite!Am sorry to say so but am one of them.

What will protect any investor is the information he is getting is factual and which can safeguard him to know reality and dreams,but showing accounts statement for managed is good but it can be another way of only luring people to pump a lot of funds so as to offer a protection zone in risks by haing more volumes,infact most of the times there are in losses direction and within a short span people are shocked when the firm they beleived collapses suddenly as those in control are the ones who are aware of that infor.I think there are many forex firms which went under in U.S like that cause guys were optimistic rather than having factual information and knowledge. Didnt that appear to bear sterns,even here in kenya Nyaga records were doing good!!!

We need reality and proper skills to be sustainable but not breeding something to bubble;information and knowledge never ceases and can keep up with any enviroment that is the lesson i have learnt in financial markets( i have unit trusts also)

HARD WORK,HARD WORK HARD WORK