Monthly Thread: May 2004

Buk,

I heared about those guys (ACM). If you work with them, could you share your experience?

Mal,

swissy is back to 1.2850s, but still not breaking the 50. As I mentieoned earlier, lets see how it handles the level, and if it breaks above, how will it behave. then we decide. Most probably my entry will be early tomorrow. Maybe right at the start of the day, maybe later. My day starts at 8am local time (7 am CET). as I promised, I will post once/if I enter.

for now thats it for today. no trades. we wait.

see you tomorrow everyone,

Rezo
 
Rezo............

they were recommended to me by both family & colleagues of family who have used them for a couple yrs now.....what you see is what you get with them (all fully explained in their site details)....although I didn't need to actually speak to them (everything was confirmed by recommends etc...), I talked over a few points prior to a/c opening, eg: proprietry trade software/e.s.p feed/24 hr instant access etc....

the demo account is 'mirror conditioned' = same as live feed data execution.....and have had no problem with 'live' fills/stops/limits in calm or choppy waters.....I don't trade 'news' so can't comment personally on that, but I know of 2 other traders who position themselves in that arena, and they've reported no probs on that score..........

I have executed trades both online & via phone (to check availability) & have exp no probs with access on either front......the site is extremely comprehensive, most everything you require information on is in there, if not....simply 'request a call' & they'll ring you at a pre-arranged time to discuss your querie(s).....they're very transparent & the platform (although basic) is spot on (excuse the pun)......

ps: they're not account chasers either (which is refreshing)....you won't receive follow up calls/no uninvited contact whatsoever!
 
Morning everyone,

Well, as I am writing , CHF was as low as 1.2775 after retesting the 1.2850 over the asian session. I may have missed the entry around 1.2850, but I will wait for another last push higher to that level, and maybe even higher to decide whether I enter or not.
If another push higher happens, I will probably sell then.

I will post.

Good Trading Day,

Rezo Shmertz
 
thanks for the info Buk. Very glad to hear about a good broker. |BTW, you are not the first one speaking well of those guys, so its good to have a knoladge about a good broker (just in case :)).

thanks and good luck!

btw, very true words you have in your sig "I have seen the enemy - and it is me! " - very appropriate for traders!

R

Buk said:
Rezo............

they were recommended to me by both family & colleagues of family who have used them for a couple yrs now.....what you see is what you get with them (all fully explained in their site details)....although I didn't need to actually speak to them (everything was confirmed by recommends etc...), I talked over a few points prior to a/c opening, eg: proprietry trade software/e.s.p feed/24 hr instant access etc....

the demo account is 'mirror conditioned' = same as live feed data execution.....and have had no problem with 'live' fills/stops/limits in calm or choppy waters.....I don't trade 'news' so can't comment personally on that, but I know of 2 other traders who position themselves in that arena, and they've reported no probs on that score..........

I have executed trades both online & via phone (to check availability) & have exp no probs with access on either front......the site is extremely comprehensive, most everything you require information on is in there, if not....simply 'request a call' & they'll ring you at a pre-arranged time to discuss your querie(s).....they're very transparent & the platform (although basic) is spot on (excuse the pun)......

ps: they're not account chasers either (which is refreshing)....you won't receive follow up calls/no uninvited contact whatsoever!
Click to expand...
 
We have been as low as 1.2760 and now back to 1.2820. If it goes to 1.2750 and higher, this pair will be acting as expected. Lets hope it does. In that case, entry will be probably today. Still I dont think it can go much higher than 1.2900...

cheers
 
EURJPY:

I posed yesterday that this pair may see more correction/consolidation and reach 135.50 area and maybe even 135.00. Well, today we saw the 135.50 and almost saw the 135.00. we were as low as 135.15. Currently its trading at 135.40. the price bounced from the minor trend line which can be seen on 240 min charts if drawing a line through 2 recent lows of 131.50 on 05.05 and 133.50 on 05.12.

If we break this line; I would say if we go below the 135 figure, it may trigger further position closing, stops and therefore buying at the moment is not considered anymore. If the price consolidated around this line for some time (if at least for today there will be no more sharp moves in either direction), then I may consider to buy.

If we break this line down, I am not saying this pair cannot move higher, but 2 facts should at least calm it down for a while:

- the price reached the 137.50 area this week and soldoff there, which is a third time this year that this area provided good resistance. This is the first warning
- on smaller scale, if we see a break of the minor trend line, it may be considered as a confirmation of the warning.

therefore we need to see how it behaves. for now we see a nice bounce off the supp line.

Still watching the CHF. For now everything as planned (almost :)). Its currently at 1.2835/40.

Good Luck
 

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Well, we saw a small new high for this hour (its 3.16pm CET now) and price reached 1.2855. Once again it met resistance and now its back to 1.2830/5.
Let see how it goes, and depending on this hour close I may short at market price.
 
no, wont be entering at this hour close. It may accelerate the move down, but its too far from the high.

Prefer missing a good trade rather than risking too much. My stop loss is estimated somewhere around 1.29, and thats a little too much for me at the moment. Maybe in another situation I would take a trade with even larger stop, but not now.

Chances are getting weak, but it still may go little higher. Maybe then.
 
hello guys and girls

i was just wondering if their is a volume indicator in forex, like the one you get when trading futures or stocks
 
saviola said:
This ACM is it an American Company
Click to expand...

yes, thats how I remember it also. Maybe I remember it wrong, but...

if you want to read about volumes and why isnt there such thing, see this thread from another board: Cash Forex Trade Volume

This is the latest I remember. Here are others from yet other board. Those posts are old, but very good:

Trade volume

and nother one which has much to do with: How do Market Makers actually work?

Volumes are also diccussed there.

Enjoy ;)

Rezo

btw, I think you will have to become a member to read those (just like to read this board)
 
Thanks for your posts Rezo. Whilst I do not contribute myself to the thread it is because I am on a learning curve and would just like to re-iterate that it is posts like yours that make this BB such a priceless learning experience for us less experienced people. Your time spent sharing information is much appreciated - Thank You.
 
Okay folks the Swissy looks more interesting today following on the stagedy planned bt Rezo. Based on his initial findings, thoughts and charts I have taken a short at 12880 looking for 12700.
 
nope, wont trade it. Its now at 1.2875 (been as high as 1.2916)...

maybe another time.
 
jaykay3 said:
Thanks for your posts Rezo. Whilst I do not contribute myself to the thread it is because I am on a learning curve and would just like to re-iterate that it is posts like yours that make this BB such a priceless learning experience for us less experienced people. Your time spent sharing information is much appreciated - Thank You.
Click to expand...

Thank you jaykay3; its my pleasure.

GL!

Mal,

chances are still good, but I pass because thinks seems to be little bit more agressive that I expected.

Good Luck my friend. I may join you later. My med target is 1.22, and thats in case we break 1.2690 area I spoke about couple days ago... so there is still some room to trade in this case.

Rezo
 
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