|
| |||||||
| Forex, Futures, and Commodities Welcome to the Largest Financial exchange in the World. Learn the ropes with discipline, and the unlimited wealth that is traded could be in your hands. |
 |
| | LinkBack | Thread Tools | Search this Thread | Display Modes |
Sun, 10-08-2006, 06:30 PM
| #21 (permalink) |
| Member Join Date: Dec 2005
Posts: 87
 | MP, How do you intend on taking profits? I've come up with my own system such that I can limit my losses easily yet cash in on the runs that bank thousands in a few days. I've decided to start I may start by playing 2 standard lots per trade so I can cut down on how many pips I need to make $250 per trade. While still using the same strategy this gives me more definite signals for runs, but cuts down even more on possible losses. If I played just the majors last week I could have banked an easy $3000 since there were about 30 signals my system would have given. I was wondering how you intend to manage your money, which currencies you'll trade, etc.. TIA. Matt |
|  |
| Sponsored Links |
|
Mon, 10-09-2006, 05:49 PM
| #22 (permalink) |
| Member Join Date: Mar 2005
Posts: 48
| FOREX Introduction - Meeting Invitation Just thought this might be informative to anyone who is interested. I have a friend who is in the FOREX market and he sent me this invite. I will be going. If you reply to the invitation and want to attend, please use the name John Hibbett. He's my friend who invited me. I'm looking forward to the presentation and hope it's helpful to anyone here. Hello Everyone: Our very own Steve DeWitt has been requested to conduct a live presentation regarding DeWitt University and what it offers its members to the Chicago Entrepreneur Meet-Up Group. Please read the invitation below for date, location, and time. Steve would love to have you there to give a live testimonial. If you can make it PLEASE e-mail steve your name and phone number steve@mydu.org so he may contact you. Also, this would be a GREAT time to bring a friend to see what this is all about!!!!!!!!!!!!!!!! If you can make it to the presentation, please go to this site The Chicago Entrepreneur October Meetup - The Chicago Entrepreneur Meetup Group (Chicago, IL) - Meetup.com to reserve your seat. Your fee of $20 will be waived. HERE IS WHAT PEOPLE ARE RECEIVING FROM THE MEET UP GROUP When: Wednesday, October 18, 2006, 7:15 PM Where: Goose Island Brewery, 1800 N. Clybourn Ave., Chicago, IL Description: In September we learned how to protect our assets and cut our taxes; now in October, we'll learn how to accumulate the wealth that needs protection! Our Guest Speaker for October is Steve DeWitt -- an instructor and mentor in the foreign currency ("Forex") market. During Steve's tenure of financial independence, he has become a top-notch forex instructor, as well as an incredible trader, winning seven International Trading contests. Steve is the Head Financial Mentor of DeWitt University and runs a "LIVE," interactive wealth-building auditorium where students are exposed to his methods of building lifetime wealth on a daily basis. With his entrepreneurial mindset, Steve has coached huge groups of students to help them become independent so they may live the life of their dreams. This event will educate all entrepreneurs on a topic that many are not even aware exists -- the forex market. Come see for yourself how you can benefit from Steve's experience and expertise. Learn how to obtain 12%-25% returns on your investments PER MONTH! This is an event you won't want to miss! Invite your business partners, employees, co-workers, friends, family and anyone else you know to join us! The networking is absolutely priceless! Finest Regards, Steve DeWitt steve@mydu.org DeWitt University - Your Educational Guide to Financial Success |
|
| |
|
Mon, 10-09-2006, 06:14 PM
| #23 (permalink) |
| Member Join Date: Nov 2005
Posts: 16
| Times Can somebody post the best times of the day (In Eastern Time Zone) for trading. I realize that markets open as the sun rises all over the world. Are there better times than others. Could you also advise on the best currency pairs and the time to trade them. I am just learning here, so i ask questions TIA |
|
| |
|
Tue, 10-10-2006, 07:34 AM
| #24 (permalink) |
| Join Date: Jul 2006
Posts: 10
| I posted this elsewhere but thought this was a more appropriate thread. Learned a very important lesson re: forex online accounts. Before I went to bed, I went long the USD versus the JPY and the CHF. I bought USD at 119.14 and 1.2620 respectively. When I woke up this morning instead of enjoying the massive move that occurred overnight, my account had been liquidated while I was asleep due to a short but deep downswing in prices before the upward move commenced. I have plenty of cash in my account but it must have just touched the liquidaton level for the split second needed to close my positions. Lesson: Do not max out leverage and go to sleep. Set-sell and rebuy limits if you go to sleep. Don't go to sleep. ever. this demo account was fxdd, are they all the same regarding strictness of automatic liquidation? Had this been a real account I would have missed 50-70 pip moves in each respective currency pair, and not been a happy camper. |
|
| |
|
Tue, 10-10-2006, 11:48 PM
| #26 (permalink) | |
| Member Join Date: Dec 2005
Posts: 87
| Quote:
If you sign up with gftforex.com I can send you a file to create an indicator to show the pips movement over time for currencies. Matt | |
|
| |
|
Sat, 10-14-2006, 07:41 PM
| #28 (permalink) |
| CRUSTY ON THE OUTSIDE !  Join Date: Mar 2005
Posts: 839
 | MP -- INFO FOR NEWBS NEATO SLIDE SHOW ! Welcome to FreedomRocks.com!! while their "method" is one of averaging, their information is good and their information on interest rate swaps is impt to remember, as you can do it with any broker. mp.
__________________ Within the great hall at Elfinore stands a wondrous coffer, precisely four cubits square and securely latched against the outside world. Inside that repository, shut away from impertinent eyes, abides many an intriquing trading secret garnered from around the world and over the ages ! As a child, i used to watch from the darkness as the secrets were debated and annotated by the elders. No one there held a single thought of my presence -- BUT I KNOW WHERE THEY HID THE KEY !! |
|
| |
|
Sun, 11-05-2006, 03:34 PM
| #29 (permalink) | |
| CRUSTY ON THE OUTSIDE ! Join Date: Mar 2005
Posts: 839
| MP -- FXDD Quote:
FXDD has one of the highest margin percentage rates of all brokers (80%) before liquidation -- others are 30 or 50%) and they carry a reputation for doing exactly what you witnessed ! Given the pip spreads, the position closings and personally speaking with some of the upper management people over at FXDD, I PERSONALLY will never use them again ! normal trading with them, aside from some wide spreads, seems to be ok, but when the fit hits the shan, they are dangerous to have trading against you ! my personal experiences mp
__________________ Within the great hall at Elfinore stands a wondrous coffer, precisely four cubits square and securely latched against the outside world. Inside that repository, shut away from impertinent eyes, abides many an intriquing trading secret garnered from around the world and over the ages ! As a child, i used to watch from the darkness as the secrets were debated and annotated by the elders. No one there held a single thought of my presence -- BUT I KNOW WHERE THEY HID THE KEY !! | |
|
| |
|
Sat, 11-18-2006, 02:24 PM
| #30 (permalink) | |
| CRUSTY ON THE OUTSIDE ! Join Date: Mar 2005
Posts: 839
| MP -- taking profits Quote:
News generates a lot of volitility, as does a currency reaching a technical bottom and forming a doji. a DOJI, after all, is nothing more than traders running a currency up to its highest possible resistance, and then shorting it down to its lowest support, usually closing in the middle. if one has an idea that the currency may very well do that (as AUDUSD and GBPUSD did just recently) you can take advantage of the tremendous upswings and downswings --- absolutely the fastest way I know of making money, BUT watch your pivot and support and resistance areas -- calculate them every day if your software doesnt do it for you and ALWAYS be aware of where the price is in relation to those figures ! Ter turned me onto AUDUSD because of the relatively cheap price, which allows you to trade many lots for little money -- enough movement to satisfy my need to constantly flip intraday and very capable of producing a very nice profit, although its not normally an "exciting" currency. "Exciting" currencies I leave to the young lions, while i just plod along with the dull ones ! (LOL) the other currencies, like GBP and EUR are all really nice at their opens, twice in a 24 hour day, often offering 80 pip moves, with the ability to then short them back down -- a VERY nice play indeed ! i take profit when i have profit, based on where i believe the currency will top out -- using the 15 and 30 min charts is a real help here, as are the bols (amazingly accurate with forex) and my own particular favorite, the Linear Regression Channel ! I have no "system" for forex aside from noting previous highs, lows and closes, although i do have indicator paks worked out that are for nothing else than identifying reversals, either up or down and are modifications of the RSIWLR and the TER. Normally, once i have determined if the trend is up or down, I will establish a core position, and then just go with the flow and play em the way they lay with seperate intraday buys and sells which i flip as often as possible, although one could not go far wrong recently betting against the dollar --- works for me ! mp
__________________ Within the great hall at Elfinore stands a wondrous coffer, precisely four cubits square and securely latched against the outside world. Inside that repository, shut away from impertinent eyes, abides many an intriquing trading secret garnered from around the world and over the ages ! As a child, i used to watch from the darkness as the secrets were debated and annotated by the elders. No one there held a single thought of my presence -- BUT I KNOW WHERE THEY HID THE KEY !! | |
|
| |
|
| Thread Tools | Search this Thread |
| Display Modes | |
| |
Linear Mode
