I had my NZD/USD S/L hit! Oil has gone lower and the Russia/Georgia conflict is ending apparently! I was short on GBP/USD so that should take care of the losses....lost 30 pips on NZD/USD...Aint on no revenge mode with GBP/USD - just will minimize the losses with it...tomorrow is another day. I am closing the position at the end of this hour and off to Westlands for a pint i go.

Tomorrow being Friday,i will only trade from 11am - 5pm and welcome the weekend after that!


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

@Kilabe and all,

You have very impressive insight and I admire that. For the sake of the public,I need to ask some uncomfortable questions - but be assured I am asking with all due respect to everyone and with the best intentions. So please treat me gently in your responses.

How does the fellow who is reading this thread feel when she realizes that no one is willing to verify whether they are actually making any money in FX?

Doesn't she think that we are just busybodies losing cash and pretending to make money?

She's getting really spooked! I would get spooked too if people (including non-money managers) were hiding behind confidentiality stories while at the same time educating you about FX.

We are all talking about supports,RSIs,oil price falling,40 pips,and sounding all expertly. But the bottom line is this -

ALL TALK ASIDE,HOW DO PEOPLE KNOW FOR SURE THAT WE ARE MAKING MONEY IN FX?

IF WE ARE NOT MAKING MONEY,HOW CAN WE OFFER ADVICE ABOUT THE REALITIES OF FOREX INVESTMENT?

If we are losing money,does it not mean that we ourselves do not understand the Realities of Forex Investment? Somebody help me out here.

@Alala what is disturbing you and your firm is lack of Infor and fear as you had been hoarding information to guys by showing that you know yet we have people who are more informed and are Willing to share the information freely.if a person Wants to be managed an account then he will be obligated to;why then an individual Like me what I need is right information to gauge my skills and practice and be independent not being hoarded and being hidden inform and tactics.so have you been shown an individual accnt with a person investing in t.bill or bonds or any financials.investors will themselves know what they are told is of Benefit.is that account statement your last straw we need to see your market abilities with analysis not being selfish. Fellow traders am I right is getting a Loss a sin in investment

HARD WORK,HARD WORK HARD WORK

@Alala

Kwani this forex thing ni kubaya aje? Yaani,even after asking guys to treat you gently for asking the question guys are coming after you will guns blazing!

Watu wanaficha statements - hehehehe. i hope the public is reading this thread so they know the Realities of Forex Investment. Rule No. 1 don't trust anybody who cannot show you their statement. Guys just lie at we made profits today,we made profits. Statement ndiyo msema kweli.

@Kilabe & Passyson

I know one thing for sure. You guys are losing cash. Before you club me to death,let me explain why I and the 4,000 fellows viewing this thread have this opinion- Any Kenyan who is making cash is keen to prove that he is making cash. Even if you are not a money manager. Give a Kenyan money - mercedes benz hiyoo!

You guys - come clean.

Alala has been showing us his statements mpaka we have chokad. We can see he is making money in bucket-loads. And that is the transparency the public wants to see.

It's your turn,me dear experts. Show us your statements ama stop pretending ati you understand the Realities of Forex Investments.

I'm beginning the petition: SHOW US YOUR ACCOUNT STATEMENTS

O.K. now begin clubbing me!
I need no inspiration to make money

@passyson

At the risk of chokozaing nyuki,how was your Friday trading? I know some fellows shorting the dollar,thinking its rally had ended have been slaughtered today,hope you were on the right side of the dollar.

@xnjambi and alala

i think advocating for the publication of account statements is misplaced. what does an account statement really prove anyway? since it is always a record of the past,you can't even be sure that it hasn’t been modified with the benefit of hindsight: a short changed into a long,a zero added here,etc. Plus,I agree that only money managers would be obligated to make their statements public,as they have something to prove.

A better way of assessing one’s profitability or not in forex is seeing their trading decision BEFORE the trade,like what passyson is doing. It’s very easy; with a demo account and following passyson’s advice I’d be able to see whether his trades are any good.

@all

Going forward if we really want this forum to help others who want to trade forex; when we provide trade setups we should include Entry and Exit levels,just a thought.


Inspired.
www.softlaw.co.ke

@HarryK...Today's trading is not bad considering it is a friday...made a short kill earlier on by going long on NZD/CHF...

Currently short on AUD/USD and long on USD/CAD...commodity prices are falling...oil is down too and my indicators are in agreeement with my trading so far.


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

That's it for today...USD/CAD and AUD/USD s/l hit...My profit margin is less for today and thats it...calling it quits for the day.

Happy weekend all.

PS/ @HarryK...you are right on that...anyway they have just been hit :(



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

Hi all
@passyson I have tried to get into the discussion today but SK really let me down a lot nimejaribu lakini wapi the site has been terrible slow and at times has been showing me that i repeat again in loading the site till i was just bored.
Anyway the USD today has really rallied again and yesterday as you said you went short against the Euro hope you recovered your losses. Regarding the commodoties driven currencies they are still fealing the heat and the pressure taking into account the gold price levels are hitting to even 795 so i think at the time when you went long against the CAD ( i did not try the commodities currencies at all) i went long for USD/CHF which gave me a reprieve a little bit as the indicators were showing. I think @passyson we need to really get into deep and find the correlations of the commodities as maybe this is the opportune time to track their behaviour.

@all
Regarding the discussion which has been raging on i think we need to face the things with reality,am amazed when guys say that those who say the reality of forex investment should come up and show the accounts.I think this with due respect to all in this forum is not only misplaced but shows weakness of information.I placed this forum so that people can discuss freely issues affecting them in forex and help one another in information we do not want to hide anything which we think is of benefit to all.

Making money is one of the factors to be in this investment which can be sustained with information. I do support that a managed account should show a person at least how he/she have been perfoming for some time with his accounts,but am finding it naive when it is said that this will be a prove for somebody having consistency;the market is turbulent and dynamic which changes within seconds and time so having historic perfomance to show to people is not a guarantee of success in future.Am also finding a little bit funny when people are told to produce their individual accounts to the public so that it can be proved a person is making something,hey! do you mean that it will be an indicator nothing is wrong with strategies used in the past??
- We all know what can be done to accounts regarding manipulation and e.t.c

On the issue of what will people think of us if statement of accounts are not seen is also a statement which here in this forum have never heard a person asking who wanted to know about forex. What guys want to know is the approach and how things are done and they are given opinions which themselves traders and investors can countercheck with the market if it is right or wrong. I dont want to talk bad about people or how they did that or this but please as @passyson said that we need to have the facts to people freely and not be selfish by using naive tactics,we are here to benefit the forex fraternity with facts which can be counterchecked either by perfomance of the accounts or the markets. I will say again that i will always stand for the facts which people have been sharing openly to benefit all of us,information and continous skills and sharing of information is the key to be sustianble but showing an account and use it as the way to make people beleive is not right,as you give him the account try to update him with information and have direction where your knowledge and practical experience will be gauged .I think thats what differentiate people is abilities and the practical experience which can be counterchecked,this is the hard fact in all financial markets not having shortcuts.

For those who are willing to participate and share information with others are all welcomed here as we prepare to have another forum where we can all enrich ourselves more and give confidence to the broader market in trying to develop the FX investment in our dear country.But for those who are not feeling comfortable maybe due to lack of information or anything then dont it will be wise if you just keep off,and am telling you we will develop as facts will always remain and all shall see.So we need partcipation which will be beneficial to all and we are here to share that information freely and help those who are to be helped,i know we have people around here who have those abilities.

Maybe we will have a small round table and have tea so that we could see the way forward in helping each other and all those who are interested. @passyson,toni.Kim,Harryk and all will be welcomed.

@passyson,toni,dont forget to research on the correlations i told you about am on them also.


@all Have a nice weekend


@NGAATU

Anyway we are having a healthy discusion so Let's not have ill motives we are helping each OTher.but we do need to set a sort of regulation.

@NGAATU

fellows,this thread got too much jargon!..nway.allow me,a layman in FX,to ask a few questns as follows:

1. Is this FX thing really an investment?or a gamble/game?.i believe an investment has a consistent history of returns,and risks and is also predictable.

2. Who are the main players in FX esp in Kenya and how is they past perfomance?

3. Do pple who trade for others,on commission,provide minimum guarantees to their clients?and how secure is somebody's capital with the dealers.

Lastly,we have had very negative events from pple purpoting to be FX experts..some in this thread ofcourse.I know pple who have been cheated as well..and i was almost falling into the trap myself.Therefore if this FX thing is to grow theres need to create confidence by sharing information and dimisifyng the -ve publicity thus far as well as regulating the whole process.




seize the moment