Forex Trading - December 2003

[seguna]

Forex Trading

Hi All

I have a background in Futures and Options. However, I'm looking to get into FX trading. WHat are your comments on how best to study and learn? An FX site I've been following stated the ff about the FX market.
Spot FX

1.Largest, Most Liquid Market - almost impossible to manipulate
2.Truly Global Market
3.Very Low Cost
4.Little to Zero Commissions
5.Tight spreads
6.24 Hour Markets
7.No Bear Markets
8.Low Price Error Rates
9.No Slippage

Can u give ur 'experienced' view on this pls?

 

[Newtron Bomb]

seguna

A good start would be to stick with what you are used to and see how that works in forex.
Basic TA works really well but it is really all down to your style and preferred methods for trading... everything (mostly) works some of the time

HTH
NB

 

[darktone]

1.Largest, Most Liquid Market - almost impossible to manipulate

maybe someone should tell the BOJ that lmao :cheesy:

Sorry, a serious question deserves a serious answer.
yes to all the above.
If your starting from scratch it might be best to start with EUR/USD, it reacts very well to basic T/A (S/R etc).

GL + regards
dt

 

[neil]

Bah - Humbug.

I've been out all day driving around in the sunshine and treating missus to fish and chips, then feeding ducks. Got home now (5.20pm) and looked at 5min chart to see nice long on Dollar/Euro I never had

 

[orchard]

Have to tell someone. Went long on EUR/$, short on $/CHF. Have just come out of of both, each with a 3 figure profit - not bad for a whole £1 a-piece.
Only been doing forex for a couple of weeks, mostly the above 2, but I find it much more relaxing than shares or indices.
Also have a punt on Gold - so far so good but am keeping a very wary eye on it.

 

[neil]

Have to tell someone. Went long on EUR/$, short on $/CHF. Have just come out of of both, each with a 3 figure profit - not bad for a whole £1 a-piece.
Only been doing forex for a couple of weeks, mostly the above 2, but I find it much more relaxing than shares or indices.
Also have a punt on Gold - so far so good but am keeping a very wary eye on it.

Well done ol' buddy.

 

[Newtron Bomb]

Nice trading

 

[ChartMan]

So now Orchard can come to the ball on the 13th...

 

[anmolway]

hi can anyone advise me of which spreadbetting companies deal with most of the international curriencies as i find deal4free do not list many of the europian ones

thanks in advance

 

[Zenda]

Try www.refcofx.com
[21:56 EUR/USD: Surprising Move Higher Difficult To Explain] Sydney, December 3:
There are a few theories rolling around today as to what was behind the surge
higher in the EUR/USD. Some say that it was real money funds ahead of the London
fix when the USD lows were reached. Some say that it was the result of huge
Middle East selling of USD, while others say that a large U.K. hedge fund was a
relentless seller of USD. Perhaps it was the combination of all of the above.
Whatever the case, the fact that the EUR/USD is in a solid uptrend is
undeniable. The fact that the EUR/USD continues to make all time highs in the
face of favourable USD news is ample proof that the trend is in place.
There is talk of a 1.2100 option barrier and more stops above that level. There
is hourly support around 1.2065/70 and a break below that level could see a few
gaps filled back towards 1.2035/40. We are looking for the EUR/USD to trade in a
1.2065/95 range for the Asian session. The EUR/USD trades 1.2079/84.-
[email protected]

 

[Newtron Bomb]

I think london capital forex is or has started a spread betting arm for forex.

give them a ring for the details.

HTH
NB

 

[darktone]

well done O for catching it

i didnt! :cheesy:

 

[neil]

I think london capital forex is or has started a spread betting arm for forex.

give them a ring for the details.

HTH
NB

They own Capital Spreads referred to elsewhere on this site under "new spread bet firms." Seem to have tight spreads.

AND

Nice 15min and 5min consolidation on Euro/Dollar

 

[orchard]

Capital spreads Forex spreads 4/6 on daily, 10 on quarterly.
Margin requirements quite small, usually 150.

 

[Newtron Bomb]

Didnt realise...
when i spoke to them they gave me the impression that they will be promoting spreadbeting accounts under the London capital name

NB

edit:

Should have checked out the web sites, i think i ve got my london capital mixed up with fxcm

 

[neil]

Another firm offering 3 pips on Euro/Dollar spread - part of onewaybet.com a spread bet firm.

http://www.twowayfx.com/spreads_margin.asp

 

[seguna]

Hi Guys.

Can you please tell me the ff
a) With the FX market being an international OTC market with no central exchange, how are VOLUME figures/measures compiled?
b) How can trade sizes and measures such as selling/buying pressure be determined?

Thanx :-0

 

[neil]

That 15 and 5min. consolidation I wrote about ( Euro/Dollar) above has made one false break out upwards - where next?

 

[Newtron Bomb]

Still moving up for now

 

[neil]

Good post Newtron and highlights an important point or three
If you are seeking an entry then maybe waiting just now is safer.

If already in a "long" then the pull back I alluded to is not yet a threat since the floor of the consolidation may be your decision point.

Going out to longer time frames such as one hour and already being in a "Long" then the pullback into the consolidation is no great shakes - may even turn out to be a Bull Flag.

Good hunting all.