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Forex Junction
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baseerahmed
Master |
22-Feb-2009 01:22
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Dollar 'Nationalized for the Weekend The US dollar fell off a cliff against all the currencies. The fall began at 16:50 GMT, during the time that financial stocks plunged at Wall Street. The nice gains that the dollar made during the week were erased in 15 minutes, and the fall continues. ................... And why did this happen: The only thing I can relate to is the fall of the financial stocks in Wall Street. CitiGroup and Bank of America are on the verge of being nationalized. It looks imminent. Now, maybe traders fear of a deeper collapse in the American financial system....................... ............................................. Over the past 35 years, the cyclical pattern of the U.S. dollar has historically provided a 7-9 year of peak to trough (and vice versa) performance. Based on the above chart, it is possible that the U.S. dollar has made its most recent cyclical low of 70 in 2008 and is now attempting to move higher, although many skeptics question the fundamental soundness of the currency in light of a much weakened U.S. economy and the ever greater indebtedness of its public and private sectors. http://www.forexcrunch.com/dollar-nationalized-for-the-weekend/ |
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iPunter
Supreme |
22-Feb-2009 00:28
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Hahaha... one can be really rich in forex... But small fries usually get fried till dried... And invincible veterans usually get swallowed up by a black swan... hehehe...
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baseerahmed
Master |
22-Feb-2009 00:11
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yes , the stop loss is 200 pips ( $2000 for std lot ) .... how else to 'train' or psychologically prepare for the real event .... hahaha ! in fact , just experimenting with only one third of this months gain of +320 pips. while this is taking its own course , i will still keep on with my usual 20 pips strategy as and when the patterns appear. caveat emptor -- for entertainment and eductaion purposes .. not an inducement.  caveat emptor -- for entertainment and eductaion purposes .. not an inducement. |
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baseerahmed
Master |
21-Feb-2009 23:39
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respected harryp  many thanks for asking that question ... it gives me an opportuinity to share my thoughts .... No, I have not abandoned my original strategy. In fact, whenever the patterns present themselves, I play them . For this Feb09 demo, I have chalked up a net of +320 to date using the usual strategy. As IG demo was down for maintaince in the first week of Feb, I played on Interbank demo account . Up till yesterday I had been playing intraday . Never played for longer term . Yesterday , I decided to experiment on playing long term. Hence the post below. To be honest, the intra-day startegy is taking too much of my time monitoring the charts. I was thinking if I could relief my self from staring at the charts by taking the courage to play long term , say over one week . The long term is just another experiment , I am quite comfortable with the original 20 pips strategy . |
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harryp
Veteran |
21-Feb-2009 22:50
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Did you gave up on your usual 10 pips scalping strategy? The latest is a $2,000 stop loss for a standard lot. Just want to learn. :))
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baseerahmed
Master |
21-Feb-2009 12:15
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USDJPY - demo after looking at the weekly charts/patterns , decided to experiment on going long ... on interbank demo... 'bought' 1 lot at 94.14 last night with a stop loss of 200 pips ..... with the gold surge and pessimism etc , it has plunged down to 93.03 at the close of the market ..... hanging on for the roller coaster ride to see where it will land me .... caveat emptor |
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ozone2002
Supreme |
02-Feb-2009 08:59
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harlo..u still demo trading ah?.. time to make big bucks man!..what u waiting for.. |
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baseerahmed
Master |
01-Feb-2009 22:08
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summary 
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baseerahmed
Master |
01-Feb-2009 22:04
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 kept away from the entering due to (1) chart patterns not to my liking (2) uncertainity due to the holiday mood (3) how market will react to Obama's ascension (4) busy with personal life ... hence only 4 demo trades ... caveat emptor ... for educational and entertainment purposes only ... not an inducement |
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simck001
Senior |
09-Jan-2009 21:42
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2. The spelling of "Greed" is p-o-o-r.
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simck001
Senior |
08-Jan-2009 21:50
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Few basic principles apply to any tradings: 1. Conservation of forest would leave you some woods to burn during winter. |
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iPunter
Supreme |
08-Jan-2009 09:39
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There are always much more wrong bets than right ones... And the right ones can turn wrong any moment too... This is because a trend is only apparent after the trend is formed, but not before... That is why it is only betting... hehehe... 
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baseerahmed
Master |
08-Jan-2009 00:29
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"It is how much you make when you are right and how much you lose when you are wrong that matters." -- George Soros |
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baseerahmed
Master |
08-Jan-2009 00:11
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just for some amusement .... : ) are the days for currency trading numbered ....then it was the French President .... now this from Dr.M .... Stop the casinos which you call financial institutions. Stop hedge funds, derivatives and currency trading. Stop banks from lending non-existent money by the billions. Regulate and supervise your banks. Jail the miscreants who made profits from abusing the system. from : Open Letter to Obama of USA http://www.chedet.cc/ |
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CWQuah
Master |
07-Jan-2009 22:30
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I want to clear the air with regards to the below post. Maybe I am oversensitive but the fact that this post came after my trading results post, smacks of some insinuation to me. Apologies upfront if I am indeed overreacting. Firstly, for the record, I am NOT an employee of any forex brokerage. There is no reason for me to engage in positive advertising. I am merely highlighting how proper use of a trading system using TA, coupled with proper risk/money mgmt, can generate reasonable returns. Secondly, how much capital is required depends on one's risk appetite and reward expectations. If one wants big gains, expect to have to put up more money, and cope with potentially big losses. No free lunch when it comes to investing/trading. Forex trading can be scaled up or down to accomodate the capital one has (there is of course a minimum sum requirement to make it worthwhile, usually a few thousand SGD to generate perhaps up to $100 profit/day with proper leverage risk mgmt). Thirdly, I don't quite agree fully that putting money in good stocks is necessarily safe (ask those who tried to chase the bull today on STI. What was the closing level relative to the open???). The moment one decides to invest in ANY financial instrument be it stocks, bonds, forex, options, index ETFs etc one must be prepared to accept there is downside potential along with upside potential. Newbies/greenhorns starting out in the world of investment firstly have to figure out the instrument(s) that might suit their risk/profit profile, find out more about the instrument, what works in assessing the price direction of instrument and what doesn't. And then one has to risk a bit of $$ to test water, etc, get familiar with the system. Bottomline, understand what you're doing BEFORE going in, instead of plonking down all the cash you have to find out what can happen.
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iPunter
Supreme |
06-Jan-2009 13:18
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Proportionate capital, rather than large capital is the way to play... |
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Laulan
Master |
06-Jan-2009 12:11
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Yeah, this advice is free, but there will still be people who disagree. Thks baseerahmed for seconding it.
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baseerahmed
Master |
06-Jan-2009 10:21
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Excellent and prudent advice !
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Laulan
Master |
06-Jan-2009 08:15
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Newbies or greenhorns beware of positive advertising. The game needs large capital. If your capital is limited (less than $200K) please go small or avoid indulgence. Put your money safely in good stocks and let it grow. | ||||
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CWQuah
Master |
06-Jan-2009 03:14
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Had a very good trading run today. 80 pips total. Many thanks to EUR/USD. Time to close shop! | ||||
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