The Official FOREX Thread

[Fletchrush17]

Upper bollinger band broke on USD/CHF @ 15 mins. RSI around 70, teetering near overbought territory. Stochastic at 70 as well, EMAs headed up.

I bought 3,000 units at 1.2337, 5 pips profit right now. Looking promising, maybe the bollinger squeeze does work.

Sold 1,500 units for a 9 pip profit and then sold another 1,500 for 11 pips. The RSI was getting too high for my tastes, its overbought. I just went short on 1,500 units with a stop loss at 1.2365 and take profit at 1.2335, hopefully its going to fall soon.

well played

I ended up taking a small loss on my last trade in the USD/JPY, I just decided to call it a night, and start fresh later.

 

[TheNewGuy]

well played

I ended up taking a small loss on my last trade in the USD/JPY, I just decided to call it a night, and start fresh later.

Thanks, but not played as well as I was thinking. My short hit stop loss and the closest it got to take profit was a 1 pip profit.

Its falling now, but the upcoming wasn't as much of a spike as I thought it was and its now stabilizing much higher than I anticipated.

 

[WorldSuccessAlliance]

I am only here to warn you of the fraud you have all succumbed to.

If you are interested, and as Krassus has pointed out, we have an official Forex thread located at the WorldSuccessAlliance.

http://www.worldsuccessalliance.com/forums/showthread.php?t=548

Be careful of the people who deceive you here. Most of them are scum.

I have traded on Forex for 2 years now. It is very difficult. The troll was correct in some ways, but all he did was post recycled tips from the sites he posted. I caution you to not fall into his trap.

By the way, we also accept homosexuals at the WorldSuccessAlliance.

You are all welcome to join any time. Please visit

www.worldsuccessalliance.com

If anyone asks, I, Kershkov was the one who referred you. Make sure you spell my name right. It is: K E R S H K O V

Thank you for your time.

I wish you good fortune in your Forex experiences.

-Kershkov

 

[OfficeSpace]

DealBook FX 2 Has officially pissed me off! That demo platform is very buggy. I started with a demo account yesterday and started trading the FOREX. I had around +$160.00 in my portfolio.. And I was buying the EURO... I was pissed to see that the program put a - sign in front of my pips on my EURO lot when it was going up. I checked the program and it was just ****ing stupid.. It has also been placing orders without me requesting them.

I'm deffinitely not gonna use dealbook fx 2 for trading.. I'll need to find a more reliable interface.

 

[madgame]

I am happy to see that so many people are interested in trading, and I do not wish to discourage anyone or sound cynical, but it is going to be very different with real money. I used to be on the broker end of day trading, and I was the one pimping out the simulator accounts. We used to call it "the stimulator." They tend to give a false sense of confidence, and there is a reason that they are being used as marketing tools by these brokerages. The most dangerous thing that can happen to your trading account is for you to suddenly think that you are a talented trader. Even if you just made a million bucks, pride will get you killed. I been around hundreds of traders. The guys making money are telling you how stupid they are and the dumb trades they made, and the newbies are bragging about their own knowledge.

I think if you don't use actual simulation programs (at least not exclusively), but buy stocks/currencies/whatever in your mind, without actually risking money than if your trading system works on paper, it'll work in real life too Nobody will be able to fake on you, if you do it that way.

Other than yourself, of course...and I know exactly what you mean. For me that was never a problem. I'm not trying to be ****y or anything, at all, but I've always been a very neutral/sober person (I mean I have emotions, too, but I guess you get what I mean)..it's not always an advantage, but when it comes to stocks or something like that I've never (ok..hardly ever) let emotions take me over (for example..other than in the very beginning, I learned quickly to respect my stop-loss-prices no matter what, whereas I've seen countless other people set themselves stop-loss prices, but then be like 'oh well, I'll keep it, still..b/c after all I guess I would buy that stock again even after selling it..' when really it's just making excuses for not being able to get rid of a losing stock. And I feel like you're right about that, when it comes to most persons..I had mentioned sports betting earlier..and I think it's so much like the stock market(or FOREX for that matter)..people get caught up by their emotions so often...like I know guys who lose 20 on one bet, then be like 'Ill risk 40 on the next, so I get it back!' and then often get totally out of control...and I think if you've that type of mindset (and can't learn to change it) trading or the stock market in general isn't a very good option for you to make money. And for people who are like that (I guess MOST beginners are like that) changing from buying stocks on paper to buying them in the real world can be a hard change....but if you're able to stay in control of your emotions and remain sober...AND sell your stocks if they hit your stops, etc. (I think experience and having been thru those situations before helps a lot in this case), there really shouldn't be any difference between buying stocks on paper or in the market.

What do you think about my opinion concerning this biblebelt?

I went short with the EUR/USD at the rate of1.27679 and as I expected, it fell. It's now at 1.27593 and it's been there for a while. Should I close the deal now when I have 8.6 pip profit or should I hold on to it a bit longer?

I suggested to go short on the Euro a couple of days ago..but I made that post, when I was a little tipsy and couldnt find it again..so maybe it got deleted lol...anyways, I'm thinking the Euro/Dollar has a reeeaally nice trend channel and that now is a great opportunity to go short on the Euro (I did so on the demo account, which I started, too). I'm not saying it's guaranteed..im not even saying its close to being guaranteed, I'd rather take it as a 50/50 chance, but in case it goes a tiny bit further up and break the channel, I'll sell it, whereas if it doesn't chances are it'll go back down to the bottom of the trend at 1,24/1,25. Thus I consider chances of either losing or making money basically the same, but if you make money I expect you to make more than you would lose (if u set a stop).

Somehow established currencies/stocks/indices like ..well the Euro/Dollar..or the Dow Jones Index, seem to often form such pretty clear channels..probbaly b/c they are generally not very dynamic.

However, which I don't like about it too much is that the channel is so close. That way there's hardly room to keep your winner going b/c you're gonna have to sell at 1,24/1,25 if you're smart (and if the situation Im looking for will take place..)...if you combine this with not setting your stop TOO tight, the difference between the money you can make and the money you can lose isn't as good as with a lot of other patterns..just b/c the channel is so tight..however it's a very nice channel..so we'll see...

(Note: I don't consider myself a pro or anything im just giving some input..maybe im totally wrong)

 

[Krassus]

I am only here to warn you of the fraud you have all succumbed to.

If you are interested, and as Krassus has pointed out, we have an official Forex thread located at the WorldSuccessAlliance.

http://www.worldsuccessalliance.com/forums/showthread.php?t=548

Be careful of the people who deceive you here. Most of them are scum.

I have traded on Forex for 2 years now. It is very difficult. The troll was correct in some ways, but all he did was post recycled tips from the sites he posted. I caution you to not fall into his trap.

By the way, we also accept homosexuals at the WorldSuccessAlliance.

You are all welcome to join any time. Please visit

www.worldsuccessalliance.com

If anyone asks, I, Kershkov was the one who referred you. Make sure you spell my name right. It is: K E R S H K O V

Thank you for your time.

I wish you good fortune in your Forex experiences.

-Kershkov

He's not with us

 

[SELF-MASTERY]

+68 pips EUR/USD

 

[SELF-MASTERY]

Self-Mastery, doesn't it write out like 6.8? It does that for me, why is that?

Not on my platform (VTtrader.)

 

[g g g unit]

what demo accounts does any one from the uk use thanks??

 

[TheNewGuy]

On the Demo accounts, do they follow the same prices as the real ones? I mean, when someone is buying big in the real Forex, does that affect the Demo accounts and vice versa?

The real market affects your demo, however if you buy big in the demo it won't affect the real market. Otherwise people could just make a ton of demo accounts and control them to influence their real money accounts.

 

[TheNewGuy]

Ahh damn. Remember how last night I had to stop loss of that short order? At my stop loss, it never got higher and then went on a 100 pip drop. Had I held out I would've made a ton of money.

Ehh live and learn, Its oversold now. I'm getting hammers on the bottom of the bollinger band, RSI of 25, stoch of .0156. Hoping it'll go from current (1.226) to the middle of the bollingers (around 1.231) That'll net me a decent $8 profit off my $1,017 balance.


...although that sell order lost me around $50 =/

 

[SELF-MASTERY]

What do you guys think about scalping FX?

 

[TheNewGuy]

TheNewGuy, are you using real money?

Nope, gonna hold off another 3 months or so with that.

I just found out how to view my transaction history too, its not too shabby.

Transaction : Profit
Take Profit : .5056
Take Profit : 8.9734
Take Profit : 3.3445
Take Profit : 1.9504
Take Profit : 0.0018
Stop Loss : -.7334
Take Profit : 2.8451
Stop Loss : -1.2024
Take Profit : 1.0948
Take Profit : 1.3375
Stop Loss : -2.6373

From July 31 to today. This was with a starting balance of $1,000 and 20:1 leverage. So I think its proportional to me investing $5,000 and having a balance of $100,000 or something like that. I reset my account to $1,000 balance and i'm confused as to thats me investing $1,000 or what, I have no idea.

But I think I'm doing good, and thats all that really matters.

 

[Bible_Belt]

What do you think about my opinion concerning this biblebelt?

The weak part of any simulator is the fills you get. Simulators usually fill you at whatever price ticks by, which is not realistic in a fast-moving market. When it is going up, you will find that your buy orders either don't get traded or you get a lousy price, and it's the same thing selling into weakness.

Unless you are trading off the CME Globex, you have no idea if the bucket shop is quoting you the real market or late or what. There are no rules, and they might execute your order or they might not. If they are on the other end of the trade, and you try to buy as it rises in price, what incentive do they have to give a timely fill?

If anyone goes from a Sim to a real account, please share with us your experiences with fills and how it differs from a simulator.

And again, the way to avoid bad fills in any market is to buy into dips and sell into bounces.

 

[Fletchrush17]

anybody get in on the USD/CHF or the EUR/USD, major runs today. I'm intrigued to jump at the CHF, the 4 hr indicators are looking good, but the 1 hr and 15 show it being undervalued. So I'm sticking to the law and holding out.

 

[TheNewGuy]

anybody get in on the USD/CHF or the EUR/USD, major runs today. I'm intrigued to jump at the CHF, the 4 hr indicators are looking good, but the 1 hr and 15 show it being undervalued. So I'm sticking to the law and holding out.

I rode the USD/CHF up, intended to ride it down... that failed and am hoping to ride it back up now. All my signs are saying its way oversold and it looks like the sellers are losing steam. I have my take profit at 1.2325 and think it will hit that within the next 4 hours.

TheNewGuy, what do you think about EUR/USD right now? I have the 15min and chandlestick graph and it's pretty stable at the moment, but I think it'll do a major drop and that's why I've gone short with 50 000 units.
What's your take on it?

I do little dealing in the EUR/USD, I'm mainly GBP/USD, USD/CHF and USD/JPY. A quick look at the 30 minute graph is telling me that its overvalued. The RSI has been lingering around 70 for the past 6 hours, the stochastic hasn't gone below 70 for the same time period, the EMAs are looking about to cross and it is nearing the lower bollinger band (on the 15 minute graph). The buyers look to lost steam around 12:30 and its just been hanging up there for a while. I put a sell order in for 3,000 units. We'll see how its doing in a little bit.

 

[SELF-MASTERY]

anybody get in on the USD/CHF or the EUR/USD, major runs today. I'm intrigued to jump at the CHF, the 4 hr indicators are looking good, but the 1 hr and 15 show it being undervalued. So I'm sticking to the law and holding out.

I went long on EUR/USD this morning for a +68 run.

Thoughts on scalping forex????

 

[SELF-MASTERY]

Someone in a different forum told me that USD/JPY would trend down to 114.41, and look at it now.

Same guy told me that he didn't trade off of charts, but off of the dashboard and news....

 

[squishy]

I went long on EUR/USD this morning for a +68 run.

Thoughts on scalping forex????

thats pretty nice, I actually lost a ton on that, I was doing fine before that trading for small pip gains (both long and short), but I misread the charts at that point and thought they were going down so I shorted it and lost a ton. So glad it's not real money. Still have quite a bit to learn, but i'm able to read the charts a bit.

 

[squishy]

Also, i'm shorting the EUR/USD right now since the EMA, bolinger bands for the 5,15, and 30 minute charts indicate a likely breakout within the next few hours, and the RSI shows an overbought stock for the past couple hours. Lets see how this goes.