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General Forex Chat

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General Forex Chat

Postby peat » June 8th, 2010, 8:45 pm

Anyone else actively trading

I've had a pretty good day today !!

Look only one red dot (thats a stop loss being hit) and you can see that I've been buying (blue upward triangles) in the lows and selling (orange downward triangles) in the highs...
so yeh I'm happy with this sort of success rate...
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peat
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Re: General Forex Chat

Postby Bongo666 » July 5th, 2010, 11:34 am

How easy is it to make/lose money Peat?
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Re: General Forex Chat

Postby peat » July 6th, 2010, 11:31 pm

its easy to do one and quite difficult to do the other.... ;+)
but with the Oanda platform risk can be managed according to your taste as there are no minimum trade sizes.
use a system stick to it. control the situation etc its ideal for trading as there are lots of pairs and they have enough volatility to trade intraday or on any time frame you want.
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Re: General Forex Chat

Postby Bongo666 » July 8th, 2010, 10:00 am

I am too risk adverse but would like a go...
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Re: General Forex Chat

Postby peat » July 12th, 2010, 7:45 pm

Have a go then with Oanda's fxgame.
http://fxtrade.oanda.com/forex_trading/fxgame
Its a demo version with full functionality etc (tho it doesnt include gold or silver as the real system does)
Or if thats not real enough open an account with Oanda with a few hundred dollars (US) and trade $100 or $1000 lots which means its effectively demo from a value perspective but being real money you still feel the greed and fear (a tiny bit) Believe me it will really hone your technical trading skills
(I have no vested interest)


I'm really focussing on using the IchiMoku technical indicator now and its working quite well....
I started shorting the Euro on the 15 minute time frame cloud breakthrough and got 50 pips in a couple of hours on Friday night.
I have some information on Ichi here http://homepages.ihug.co.nz/~peat/this_is_peats_webpage.htm
and theres plenty available with a google of course

I think forex lends itself to purely technical based trading , the volatility and time frames involved are too great to trade on fundamentals.
So you really need to have a system analysis that provides clear entry and stop points
Candlestick pattern understandings are fundamental as well.
peat
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Re: General Forex Chat

Postby Bongo666 » July 19th, 2010, 7:05 pm

Cheers Peat, will have a go when I get some spare time....
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