July '04 Forex

[Newtron Bomb]

saviola

I have to agree with Goober, if it works dont be deterred from it. Consistency is a major key in implementing a well rounded strategy.

Happy Trading
NB

 

[MysticalTrader]

Anyone got any thoughts on how GBP/USD might finish the week? I am long just now...

MT

 

[JonnyT]

I've been long most of the day, not that its done me any good!

Where it goes, nobody knows.

JonnyT

 

[Buk]

the way it's been pinging around most of today, if you've snaffled profit off your long, don't worry too much about where it ends up later.....bank it!!

 

[JonnyT]

Cable trader long today made 21 pips in real life trading a spreadbet account.

JonnyT

 

[Newtron Bomb]

Hiya Folks

Looking at a low risk entry area between 1.8600-1.8620 if it does pullback this far. Not looking good for the short term and i suspect we may may a slightly higher high before pulling back to this level if it does so at all.
1.8620 is favoured entry if it does make a higher high and the round number looks good support if it meanders down. Time will tell

Happy Trading
NB

 

[MysticalTrader]

took your advice and cashed in when I had to go out for a meeting and could no longer see what was happening. It went up another 20 pips but a profit is a profit!

MT

the way it's been pinging around most of today, if you've snaffled profit off your long, don't worry too much about where it ends up later.....bank it!!

 

[MysticalTrader]

you looking for a correction to 18620 then long again?

MT

Hiya Folks

Looking at a low risk entry area between 1.8600-1.8620 if it does pullback this far. Not looking good for the short term and i suspect we may may a slightly higher high before pulling back to this level if it does so at all.
1.8620 is favoured entry if it does make a higher high and the round number looks good support if it meanders down. Time will tell

Happy Trading
NB

 

[Newtron Bomb]

Hi Mystical Trader

WD on banking some profits always a good way to end the day and week imo

For my larger TF's this could provide me with a low risk entry if the prices pullback to my desired area if it doesnt then i can catch a move with one of my other strategies if the pictures doesnt change significantly for me to view a long option differently.
Smaller TF's are providing me with quick profit opportunities while i evaluate the larger picture for larger day trading opportunities and swing setup are now also on the cards for me.

Happy Trading
NB

 

[MysticalTrader]

I just *know* I am going to regret asking this..

What is a TF?

MT

Hi Mystical Trader

WD on banking some profits always a good way to end the day and week imo

For my larger TF's this could provide me with a low risk entry if the prices pullback to my desired area if it doesnt then i can catch a move with one of my other strategies if the pictures doesnt change significantly for me to view a long option differently.
Smaller TF's are providing me with quick profit opportunities while i evaluate the larger picture for larger day trading opportunities and swing setup are now also on the cards for me.

Happy Trading
NB

 

[Newtron Bomb]

TF = Time Frame

 

[MysticalTrader]

I knew I was going to be sorry...

cheers.

MT

TF = Time Frame

 

[MysticalTrader]

Looks like you will get your 18620...


MT

I knew I was going to be sorry...

cheers.

MT

 

[Newtron Bomb]

hmm its looking that way

NB

 

[MysticalTrader]

where can I get a calendar of the major events likely to have an impact on forex?


MT

 

[Newtron Bomb]

there is an FXCM on on my site. click the link in my signature

NB

 

[e-zee]

Hi everyone,

I'm thinking of trading FOREX, mainly the majors. But, I need to open an account, what do people think of ACM (ac-markets.com), they seem to offer the lowest spread of 3 pips on majors, and simple overnight charges, but currency is held in either $ or euros OR can you recommend other brokers ?

Thanks in advance.

 

[Newtron Bomb]

e-zee

ive hearg good things about ACM although ive never used them and i think Buk has used them who am sure will put a reply up when he see's the post.

There are lots of brokers and related charting for FX. what i would suggest is that you try out the demo account for one of the account and see which features you like. You may decide that you have specific requirements for your trading. Some brokers will hold your funds in whatever base currency you require.

Personally I wanted good order execution with high quality charting facilities and i eventually settled GFT. There may be other more suitable brokers but this one is serving my needs for now.

There is a review section with a list of brokers that deal with spot rates like ACM and you may also want to look at the other options available for trading FX like Futures and options. I dont trade FX with either of these last two vehicles any more but i have done in the past and may largely depend on the strategies that you wish to use.

Happy Trading
NB

 

[Newtron Bomb]

Trade update

I didnt get the new high that i first thought for a buy target of 1.8620.
I did however get the round number that i was expected it to go to if it didnt make a new high, so my plan came off again.

Currently it is at make or break time and i would guess that the move is done for the day. I was hoping for it to reach at least the high of day and i would be inclined to thin that this is going south for now with the current picture that i see.
Will keep you updated.

Happy Trading
NB

 

[e-zee]

Thnxs NB.

Your input will help me decide which platform to opt for, but I will also hear what other experinced Fx traders have to say abouyt other platforms available.

ACM is JAVA feed rather than a software program installed on your computer. I liked their simple $1 per 100K overnight holding chrge, rather than the complicated interest based charge, Also, their 3 pips on the majors commission, but disadvantage is they are based in sweden, so telephone order will have to limited. I have enrolled for the 30 day trial I'll see how that goes, and I will take a look at GFT.

Take it ezee while trading.