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fxtech
#1 Posted : Wednesday, June 02, 2010 7:45:36 AM
Rank: Member


Joined: 5/31/2010
Posts: 325
Location: NAIROBI
fellow traders i'm really looking forward to Non farm payroll on fri,i'm sure the mighty market mover will make us gud pips on EUR/USD GPD/USD, n u guys?
Discipline & sticking to your strategy even when you loosing defines great traders.
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Horton
#2 Posted : Wednesday, June 02, 2010 10:10:38 AM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
The EURO looks like quite a good buy, with the chinese mopping up supply ATM
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mlefu
#3 Posted : Thursday, June 03, 2010 8:55:48 AM
Rank: Elder


Joined: 2/11/2007
Posts: 1,680
Location: nairobi
horton and fxtech... would you mind teaching me forex from scratch.
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The Merchant
#4 Posted : Thursday, June 03, 2010 9:51:30 AM
Rank: Veteran


Joined: 5/24/2010
Posts: 846
Location: KENYA
@mlefu..I can teach you how to trade forex but you have gotta give yourself about 1 yr to get started otherwise you will lose all your money. This is the one market where amatuers are not forgiven. Instead they are crucified!
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The Merchant
#5 Posted : Thursday, June 03, 2010 9:54:24 AM
Rank: Veteran


Joined: 5/24/2010
Posts: 846
Location: KENYA
@fxtech...I would not encourage you to trade during NFPs as the market rarely acts rationally nowadays during major news events. Better to jump on the resulting trend on monday and make a few puips rather than burn your equity. Also, if you must trade try AUD,NZD,CAD paired against the lower yielding JPY.
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rogersha82
#6 Posted : Thursday, June 03, 2010 11:35:07 AM
Rank: New-farer


Joined: 5/26/2010
Posts: 13
Location: Nairobi
@The merchant. Would you teach me too on the forex trade.i'm interested. My email is rogergichuhi@gmail.com .I'll be patient enough to learn first.even if its for one year
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The Merchant
#7 Posted : Friday, June 04, 2010 8:10:04 AM
Rank: Veteran


Joined: 5/24/2010
Posts: 846
Location: KENYA
@rogersha82. No problem. Ill send you an email right away but I charge a fee. But this fee only applies for a month then the rest is free as I will only observe and guide you, for about 1 year. Sound agreeable?
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mlefu
#8 Posted : Friday, June 04, 2010 2:52:52 PM
Rank: Elder


Joined: 2/11/2007
Posts: 1,680
Location: nairobi
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The Merchant
#9 Posted : Monday, June 07, 2010 7:43:07 AM
Rank: Veteran


Joined: 5/24/2010
Posts: 846
Location: KENYA
@mlefu and rogersha82

Please check your emails..
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fxtech
#10 Posted : Monday, June 07, 2010 9:12:54 AM
Rank: Member


Joined: 5/31/2010
Posts: 325
Location: NAIROBI
@mlefu did u get assistance about learning how to trade u can also contact me my email is pjephraim@yahoo.com. @merchant I lyk trding th fundamentals u just need a few thngs here n there.
Discipline & sticking to your strategy even when you loosing defines great traders.
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The Merchant
#11 Posted : Monday, June 07, 2010 10:15:25 AM
Rank: Veteran


Joined: 5/24/2010
Posts: 846
Location: KENYA
@fxtech.... I trade fundamentals too but just to protect myself from market abrupt movements otherwise I like to stick to the technicals. I find that the technicals always hold out well in the long term which is my style.
What are you trading this week sir?
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Morey
#12 Posted : Monday, June 07, 2010 11:07:03 AM
Rank: Member


Joined: 12/2/2007
Posts: 230
Location: London,SW
@Merchant:Whom do you trade with?which indicators do you use?
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Morey
#13 Posted : Monday, June 07, 2010 11:47:29 AM
Rank: Member


Joined: 12/2/2007
Posts: 230
Location: London,SW
The euro will be at parity with the dollar before the end of 2010,the dollar will strenthen against all majors.The Uk policy makers preffer a weaker Pound to stimulate their export trade which they reckon will drive them out of the massive deficit of £770b.
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The Merchant
#14 Posted : Monday, June 07, 2010 1:55:28 PM
Rank: Veteran


Joined: 5/24/2010
Posts: 846
Location: KENYA
@ morey... I use fibs alot to determine support and resistance points then i use MAs, channel lines, bollinger bands and stochastics. I stopped using ichimoku clouds after I failed to achieve any consistency with them. I am also actively pursuing perfecting the art of candle stick analysis.
How about you sir?
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The Merchant
#15 Posted : Monday, June 07, 2010 1:56:39 PM
Rank: Veteran


Joined: 5/24/2010
Posts: 846
Location: KENYA
@ morey
Oh and I trade with FXDD... plenty of reasons for that.
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sheep
#16 Posted : Monday, June 07, 2010 2:20:57 PM
Rank: Veteran


Joined: 7/24/2008
Posts: 781
buy Euro....its the dollar you should be worried about, everybody's rushing to buy
The utimate goal of investing is to buy low sell high;if we re-write this core equation in psychology terms it becomes buy fear sell greed.
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Morey
#17 Posted : Monday, June 07, 2010 4:40:28 PM
Rank: Member


Joined: 12/2/2007
Posts: 230
Location: London,SW
[quote=The Merchant]@fxtech...I would not encourage you to trade during NFPs as the market rarely acts rationally nowadays during major news events. Better to jump on the resulting trend on monday and make a few puips rather than burn your equity. Also, if you must trade try AUD,NZD,CAD paired against the lower yielding JPY.[/quo

All what you need is a Trailing Stop Loss,if you are on right side,you can bag in a whole week profit in a sec.
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Morey
#18 Posted : Monday, June 07, 2010 4:49:43 PM
Rank: Member


Joined: 12/2/2007
Posts: 230
Location: London,SW
@Merchant:We use similar indicators,bollinger band in determing volatility and breakpoint,candlestick in determining market sentment and reversal point.
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The Merchant
#19 Posted : Monday, June 07, 2010 7:49:27 PM
Rank: Veteran


Joined: 5/24/2010
Posts: 846
Location: KENYA
@ morey... the only reason I discourage trading during news times is because I try to ride a trend rather than be there when it is been set. If you always find yourself on the right side of news kudos to you my friend.
We do use similar technical tools but I must say that my favourite tool are fibs. They are almost always spot on. I think they are this way because so many traders use them and they become a self fulfilling prophesy.
What is your time frame morey?
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Morey
#20 Posted : Tuesday, June 08, 2010 8:51:32 AM
Rank: Member


Joined: 12/2/2007
Posts: 230
Location: London,SW
@Merchant:We use fibs to determine entry point/support level,what do you use to determine exit point/resistance level?

As much as i would like to reffer myself as a daytrader,my forex teacher would reffer me as scalper.
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