Holy moly... it's been a while since I've posted in the latest version of the EUR/USD discussion... Might have to start throwing my two-worthless-cents in here and there again.
Yikes... they must have removed a whole bunch of threads; once apon a time I had A LOT of posts... 500 makes me feel like a newb all over again LOL.
Last edited by Bulldog; 01-13-2009 at 06:11 PM.
Reason: comment on post count
If you like short term trades develop a scalping strategy, My first 8 months of trading all i did was scalp Eurusd.
Grab your rsi and use lots of trend lines. Its a great start with low capital imo. When I started my interbank account I lost a couple grand got down to 9 dollars and scalped all the way back to 2k before I started trading normally again. Most traders look down upon scalping, I have no idea why, but there is a scalping forum here if you wanna learn more....
Thank you, my friend. I see the Scalping forum... I think I'll mosey on over there. Scalping is just easier for me... it takes less prep time and I actually do have a real job programming during the day, so I can't spend a lot of time in trading. Plus the drawdowns in scalping can be a lot smaller if you're just going for a few pips here and there.
Jan. 14 (Bloomberg) -- Chinas economy overtook Germanys in 2007 to become the worlds third largest, according to revised figures released by the Chinese statistics bureau today.
Gross domestic product rose 13 percent, more than a previous estimate of 11.9 percent, to 25.731 trillion yuan ($3.38 trillion), the bureau said on its Web site today. That topped Germanys 2.424 trillion euros ($3.32 trillion), based on Bloomberg calculations using average exchange rates for 2007.
The fastest-growing major economy has expanded an average 9.9 percent a year since leader Deng Xiaoping ditched hard-line Communist policies in favor of free-market reforms in 1978. The nations efforts to sustain growth by rolling out a 4 trillion yuan ($585 billion) stimulus package may help to limit the severity of a deepening global recession.
This number is just one more piece of evidence that China is one of the most important players on the global stage, said Huang Yiping, chief Asia economist at Citigroup Inc. in Hong Kong. Chinas importance goes beyond even the ranking as number three because its one of the only resilient economies in the world today.
The U.S. economy is the worlds biggest, followed by Japan. China overtook the U.K. in 2005.
If China continues to grow at its average rate in the past 20 years and if the U.S. does the same, it will overtake the U.S. in 20 years, said Tim Condon, head of Asia research at ING Groep NV in Singapore. Theres no doubt that that will happen -- its just a matter of time.
China is made of a bunch of liers. I heard 25 million jobs will be lost in 2009 in export related sector. Their exports are slowing year on year, by 3 percent in 2008. Mr Hu Jintao, you cannot squezze more out of the consumer there. Chinese economy is based 35 percent on the consumer rest on exports mainly. They can keep lying to themselves their economy will grow at 10 percent this year.
Hello All,
I need some strategies from experts here. Here is the thing; i have been only in forex for 2 months now and in the meantime i have played on demos and live account. With the demo accounts i have got excellent profits but when it comes to the real account whenever i have put money i always lost it in a hurry. Someone here was talking about the stops on EUR/USD, the only currency i trade in, but its very violatile i think. I used to never puts stops but only limits and whenever i have put stops, they were hit and currency swung back making me mad. I look at all the candles 5 mins 1 hr 4 hr but not sure what i am doing wrong in my real account. Do u think trading on the news is the best thing(ECB rate decision)? I am still looking for the best time and the currency that is not violatile to trade. Someone suggested that i only trade in USD/JPY bcz thats the ultimate currency pair which doesnt shed pips at an alarming rate. And since i am in the New York, whats the best time to trade during a day?
Meona (appreciated ur suggestion in last post;saved me $) or other experts opinion are welcomed.
It has been already almost one year since puka puka made his last post in Feb last year.
How are you, people? I hope you all enjoy trading.
Though I have been trading currencies more than 5 years, the ttl numbers of my posts here on this latest version of a discussion forum is no more than 30 or so. So I am still a newby here.
EUR/USD...I cannot understand the recent movements of this pair.
In fact since last Dec's almost frenzied climb, I cannot understand the pair.
Hello All,
I need some strategies from experts here. Here is the thing; i have been only in forex for 2 months now and in the meantime i have played on demos and live account. With the demo accounts i have got excellent profits but when it comes to the real account whenever i have put money i always lost it in a hurry. Someone here was talking about the stops on EUR/USD, the only currency i trade in, but its very violatile i think. I used to never puts stops but only limits and whenever i have put stops, they were hit and currency swung back making me mad. I look at all the candles 5 mins 1 hr 4 hr but not sure what i am doing wrong in my real account. Do u think trading on the news is the best thing(ECB rate decision)? I am still looking for the best time and the currency that is not violatile to trade. Someone suggested that i only trade in USD/JPY bcz thats the ultimate currency pair which doesnt shed pips at an alarming rate. And since i am in the New York, whats the best time to trade during a day?
Meona (appreciated ur suggestion in last post;saved me $) or other experts opinion are welcomed.
Hi Friend,
I am also news as you were. I just started trading forex six month ago. Before that I am a stock trader. This scenario happen to me before. When I using the demo account, I use to make a lot but once I start the live account the profit is not there. I lost 300USD on the first 2 day of trading.I was using a micro account with only about 700USD and 2 day half is gone.
But now I able to regain my loss and make some money out of it. I then realise my mistakes. Always to put a cutloss. My cutloss for every trade is 40bips to 50bips. I was then reading a lot of books regarding the forex trading technique. One things every books says the same. Always put a cut loss no matter what. Always had a trading plan. Stick to the plan. Always take profit double or triple from your cut loss.
The objective of each trade is to hit the correct target and direction of the trend. Sometimes you will lose (cut loss) and sometimes you will make profit. If you take profit double or tripple from your cut loss at 40% or more winning changes for all the trade. You will 100% make a profit.
The best time I like to trade is during the US times cause this time the trading go wild. Chao.
This is a few tips that I can give you. I still don't things my trading plan is good, still perfecting it. Good luck on trading to you and to me.
DEMO Trading is easy !
But cannot be compared with the real thing. Whether thats micro or not, as soon as you start to lose real money your mood changes. And sound strategies might look not so sound all of a sudden. And why not take this 50 pips profit instead of the 'projected' 100 since money in is money in.
Ofcourse, try demo first before you enter the market. But dont think you can copy paste your demo profits into the live market.
Be prepared to lose money. If you're not, you will never make money.
Whatever the ECB does tomorrow, we will be in for a bumpy ride. If they lower by just 25bp the euro might spike up, but only to drop afterwards because "the ECB is behind the curve". If they lower 50bp the euro will go down. Maybe we'll see sub 1,30 but market is short already, so we might see a bit of a bounce there.
I wish I knew for sure...
I think it will go test 3188 then head back to test 1.31 again.
Well, it tested the 1.3188 and a little more (stop sweeping I would guess)... now let's see if it falls back or gets some mojo to continue on up up up.
I'm short one lot at 1.3175 with a stop up above the last peak.
Last edited by beeryboogy; 01-14-2009 at 12:02 PM.
Well, it tested the 1.3188 and a little more (stop sweeping I would guess)... now let's see if it falls back or gets some mojo to continue on up up up.
I'm short one lot at 1.3175 with a stop up above the last peak.
The wicks of the up move (wave 4) interferred with the wicks of the initial down move (wave 1) so I would not take the short at this time.
It could make it back to 1.31 but chances are that it might run out of steam before that.
China is made of a bunch of liers. I heard 25 million jobs will be lost in 2009 in export related sector. Their exports are slowing year on year, by 3 percent in 2008. Mr Hu Jintao, you cannot squezze more out of the consumer there. Chinese economy is based 35 percent on the consumer rest on exports mainly. They can keep lying to themselves their economy will grow at 10 percent this year.
I'm still positive on China over the next few years, but due to their one child policy they have a lot of young men without wives, and will clearly have a demographic problem. This will prevent them from overtaking the U.S. economy despite their large population.
And this is very important. In the last three years 50% of their GDP was due to foreign inflows. I still think they will still get inflows. Their cars sales are down 10%. Their x-auto retails were up 20% recently. Overall it looks much better than the developed countries as long as they can keep the ponzi scheme going. I like Indonesia better though, IF is the symbol.
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Originally Posted by arthurb
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