Forex Trader

[Sunlight]

8pm-12am is suppose to be good times as europe n america in session.

 

anyway, learning how to use trendlines n fibonacci again....will try again in new year

[Good-Carbuyer]

Hi,

Any kind soul(s) tried the latest OCBC FX platform?

Is it suitable for begineers (I have yet to start any trading, except on paper)

Many thanks

[Sabretan]

that's the spirit. Record all ur trades as in why u enter them, what r ur stoploss n tp strategies....After closing the trade, immediately reflect on did u follow ur trade plan, did greed took hold of u?, did u drop ur stoploss due to trade going against u?....such reflections will eventually make u a better player.

 

 

the longer u stay in tis game knowing wat went wrong, the better u will get.

[Hp93868686]

I using DBS FX... Not bad

Edited December 24, 2010 by Hp93868686

[Sabretan]

from my own exp n those whom I know trade fx, no one has lost money on demo acct...most can in fact make tonnes of money.

 

My advise, start w some common ones like Oanada, KE Forex, Philip FX (got commision one), CMC, CityIndex, IG, or anyone of those tat has an office in Spore. Most are Market Makers, means ur counter trade party, unless u trade std lot (100,000 USD) or bank lot (250, 000 USD).

 

Open an account n trade small...means use at most 1:10 leverage, means if u open a 2k account, trade no more than $20,000 contract at any one time....this will help u stay longer in the game while u gain experience. Nothing beats the thrill of trading real money .

[Good-Carbuyer]

from my own exp n those whom I know trade fx, no one has lost money on demo acct...most can in fact make tonnes of money.

 

My advise, start w some common ones like Oanada, KE Forex, Philip FX (got commision one), CMC, CityIndex, IG, or anyone of those tat has an office in Spore. Most are Market Makers, means ur counter trade party, unless u trade std lot (100,000 USD) or bank lot (250, 000 USD).

 

Open an account n trade small...means use at most 1:10 leverage, means if u open a 2k account, trade no more than $20,000 contract at any one time....this will help u stay longer in the game while u gain experience. Nothing beats the thrill of trading real money .

Many thanks. I will do some research on those brokers. Citybank phone-banking type currency trading suggests 1:4 leverage for begineers. However, you got to do it in the dark (based on over-phone hearsays like commodity investment). I am not comfortable with that, as their Dealers often re-quote repeatedly for their other products). Their online banking platform also not all in order (helping them with it)

[Sabretan]

No prbm...Good luck.

 

Citibank, USB, Saxobank are big players n contribute a lot to interbank liquidity.

 

 

 

Edited December 25, 2010 by Sabretan

[Sunlight]

[Sabretan]

For succesful mechanical trader, trading liberate them from "Work".

[Perrier]

Is everyone back from their holidays? [laugh]

 

For those who trade cables, check out the weekly chart, the right shoulder is forming its top around 1.597x

 

Do wait for the weekly close to confirm.

 

Patience is a very important element for successful trading.

 

Good luck for 2011.

[Sunlight]

Looking at daily and weekly chart. I am seeing a reversal in eur/usd.

anyone have different thoughts?

 

[Perrier]

It does looks bearish on the weekly.

 

2 failed attempts to break the LTL. I will wait for a possible retrace to enter my shorts again. 3620 looks like a good starting point for a more risky trade.

 

It could be a long way down so I am in no hurry to jump in. NFP was a good day for me.

 

 

[Sabretan]

It will only be a reversal when the market says it is in a reversal...LOL.

 

 

In the mean time, juz wait for a good probability trade w good RR to enter lor. Be it breaking down fr its 0.62 retracement or going to 0.76 b4 reversal or even 1.0 b4 reversal. just cut ur losses short if things look fishy n reposition or re-enter when market confirm ur theory.

 

NFP was kind to many traders w that big candle that touches an obvious resistance high b4 starting it strong downtrend (only for 30 mins n below TF traders). 100 pip LOL.

[Perrier]

Cable hit the UTL today and failed. I missed that trade but still entered my short ard 612x. Looking for a deep fall.

[Curahee]

Spot on. Share the same sentiment as u. Been holding my short EUROUSD & GBPUSD trade order since last week.

Edited February 7, 2011 by Curahee

[Deathsythe]

Pls enlighten me on the LTL and UTL that you are mentioning. Thanks.

[Good-Carbuyer]

Anyone to share your experience with fixed spread brokers like City Index? Many thanks.

[Perrier]

Pls enlighten me on the LTL and UTL that you are mentioning. Thanks.