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Sat, 10-07-2006, 12:34 AM
| #1 (permalink) |
| CRUSTY ON THE OUTSIDE !  Join Date: Mar 2005
Posts: 839
 | MP -- FOREX CHAT ROOM well, ive been smitten and i dont see recovering soon ! I will attempt to run a FOREX CHAT in the second room on the chat site during the normal trading day, and at various times in the early morning and at nite. Additionally, if time allows, I will also go over my methods using quotetracker (mikeys method) and prophet.net charts (the RSIWLR and TER analyzers). Seems a few other decent FOREX traders should be there also,(the present forumn peoples included) so there should be no end of opinion and assistance during the trading day, including buy and sell signals ! those who havent seen FOREX yet are in for the greatest surprise ever known in the market -- something so relatively predictable and smooth that it brings tears to ones eyes and money to their accounts AND you only have to have 3 or 4 symbols on your watchlist constantly, and theyre always the same ! the beauty of forex is that you can trade ANYTIME of the day or nite, and usually find some good trades going on, either long or short, although early in the morning in the US, is one of the best, as is the beginning of the day in the country youre trading its currency. Simply put, I open my charts at 7 or so in the morning, find a currency i like (gee, which of the 4 shall i do at this particular minute ?) and trade, either shorting on the way down or going long on the way up. At about 8 or 8:30, having been trading while im cleaning up, feeding slink, having my second cup of late supremo and an english muffin with orange marmalade, i sell or cover my short and take a look at what the pennies offer !(although i find myself less and less interested in the rumors, touts and oftimes pure BS that the penny mkt offers ! Invariably, I find myself drawn back to the currencies, as the normal US day starts and traders work the spread, and always find another great trade (or 3 at a time, if so inclined) The FOREX market is a market that never sleeps,(well, it does close for a while on saturday and reopens sunday at 5 PM EST) and until you see it for yourself, words cannot describe what is going on ! the downside trap is that forex gives you immediate 100X to 200X margin(leverage) and full pattern daytrader status (you can trade the same symbol as much as you want in any one day). This margin, as long as you play smart, simply allows you to make as much as one can do with pennies, but if you get greedy, you can be in trouble easily. So, with the opportunities for profit before you every minute of the day, THERE IS NO NEED TO GET GREEDY, because you can just turn around, short the currency or move over to another one --- there will be good trades CONSTANTLY ! if youre interested, i suggest you get a demo account with one of the MANY brokers you see listed (try FXDD) and bring yourself and your account over to see us and join the ranks of international banking and find out why your banker is a rich man ! there are some rumblings concerning FXCM, as they do trade against you and do not really like a money making trader -- there are some tricks, peculiar to FOREX, that will also be discussed (but in general, being conservative and careful, theres an awful lot to be made out there) FEEDBACK APPRECIATED, SO I CAN TELL IF THIS IS A DUMB IDEA OR NOT ! enjoy and trade well 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 !! |
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Sat, 10-07-2006, 06:31 PM
| #2 (permalink) |
| Member Join Date: May 2005
Posts: 22
| Hey MP, Have anyone here register and try the EasyForex trading platform? I personally think it is a great platform. Here is the link for you to try Online Foreign Exchange (Forex) Trading Software: Easy-Forex™ Last edited by admin : Sat, 10-07-2006 at 08:50 PM. Reason: no affiliate links allowed |
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Sat, 10-07-2006, 08:13 PM
| #3 (permalink) | |
| CRUSTY ON THE OUTSIDE ! Join Date: Mar 2005
Posts: 839
| MP -- CHACHOY Quote:
FOREX platforms come in many shapes and sizes, with and without charts and with varying pip spreads and often the cards are stacked against the trader, especially the newb. do they offer FULL pip amounts, such as 1.2356 or do they round that to 1.23 or even 1.24, in which case its VERY hard to flip the currency because theyve taken away all your profit and given it to themselves. THAT is one of the most impt things you need to look for --- how many pips are available for you to trade ? so, how many pips does this company take for comission and what and how computed are their spreads ? and do they widen the spread during volitle times further making it hard to make profit ? would love to hear firsthand information ! mp | |
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Sat, 10-07-2006, 09:29 PM
| #4 (permalink) |
| CRUSTY ON THE OUTSIDE ! Join Date: Mar 2005
Posts: 839
| MP -- DONT THINK THIS IS THE ONE CHAC went to the website, and funny -- they give no renewal fee for "islamic law" traders ! Spreads, Commissions and Charges their pip spread is ok for what they call "vip" but for mini accounts the pip spread is 10 PIPS --- thats highway robbery, as one has to make those 10 pips just to start showing a profit, and 10 pips can make a decent profit for a trader, especially if repeated during the day. what is interesting is that one gets a pretty decent understanding of FOREX by browsing their web site, where many questions are answered -- i WOULD advise using them for that purpose ! In general, not understanding the "Islamic Law" and their horrible spread commission structure, THIS SURE AINT THE ONE ! (JUST WHO ARE WE FUNDING WITH THIS COMPANY ????????) |
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Sun, 10-08-2006, 08:42 AM
| #6 (permalink) | |
| CRUSTY ON THE OUTSIDE ! Join Date: Mar 2005
Posts: 839
| MP -- CROWN FOREX Quote:
thnx Nap -- have you had any personal experience with them ? one more demo to download -- must be time to buy 3 more computers and 6 more monitors to watch them all during mkt hours ! one pip on the majors is excellent, although its 10 pip spread on the more unusual -- are these FULL four place pips or the horrid two place pips ? thank you mp | |
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Mon, 03-26-2007, 12:16 AM
| #8 (permalink) |
| Realist,/Moderator!!!  Join Date: Dec 2005 Location: My feet!!!
Posts: 2,836
  | Reuters, CME launch global forex market platform Sun Reuters, CME launch global forex market platform Sun Mar 25, 7:44 PM ET LONDON (Reuters) - Reuters Group (RTR.L) said on Monday it had launched its FXMarketSpace trading platform joint venture with the Chicago Mercantile Exchange (NYSE:CME - news) as part of a drive to tap the fast-growing global currency market. ADVERTISEMENT FXMarketSpace is a centrally cleared, global foreign exchange platform for the over-the-counter market that allows deals to be processed anonymously. The venture, which aims for a slice of the $2 trillion a day foreign exchange market, has not been widely added into analysts' valuations on Reuters, although a growing number have recently begun estimating what impact the business will have. Many analysts predict average daily foreign exchange turnover could hit $3 trillion by the end of this year, fueled by hedge funds, prime brokers and automated trading. Broker ABM AMRO earlier this month said FXMarketSpace could add between nine and 92 pence to the share price of Reuters depending on the market share the two companies achieve. Reuters and the CME have estimated that FXM needs around $40 million of revenue -- roughly two percentage points of market share -- to break even, and this is expected to occur in 2008. Morgan Stanley analysts said in a note late last week that it valued Reuters' 50 percent stake in the venture at a base case of 31 pence per share and a bull case of 50 pence per share. "The proposed venture has a highly scalable business model with a largely fixed cost base. The key is the extent to which FX MarketSpace will be able to attract volume," the broker said. The two businesses created the platform in May, 2006, and said they would have it up and running by the end of this month. Trading volumes in the global foreign exchange market have been growing at around 16 percent per annum over the past three years, underpinned by the growing interest from hedge funds, prime brokerage and automated trading of FX as an asset class. FXMarketSpace, which starts with 76 customers either trading live or in the process of joining, allows trading in spot foreign exchange against the dollar on the euro, yen, sterling, Australian dollar, Swiss franc, Canadian dollar and four cross-currency pairs. At the time of the full-year results on March 1, Reuters Chief Executive Tom Glocer said he believed the venture provided potentially strong growth for a relatively modest outlay. "We own call option on 50 percent of the upside on an exchange model on the world's biggest asset class that is close to $3 trillion a day and heading to $4 trillion by 2010," Glocer said on the day of the company's full-year results. Reuters and the CME plan to each invest $45 million split equally between 2006 and 2007. Other major players in the electronic matching market include interbank platform EBS, which is owned by interbroker dealer ICAP and FX Connect, which is own by U.S. financial services firm State Street (NYSE:STT - news). Earlier this month, Bloomberg L.P. subsidiary Bloomberg Tradebook Services Llc launched an electronic foreign exchange platform called Bloomberg Tradebook FX using liquidity provided by AIG International Inc. (NYSE:AIG - news). Reuters, CME launch global forex market platform - Yahoo! News
__________________ All ambitions are lawful except those which climb upward on the miseries or credulities of mankind. Joseph Conrad, Use your own mind on what to buy and sell!! |
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