Review of Strategic Tips on Milking the Major Currency Pairs in Live Forex Trading - Page 8

forexgreenland · #71 (**permalink**) 12-29-2008, 08:23 PM

Quote:

Originally Posted by king_diamond

ala tuan, tau ler last2 mesti ada nak jual ebook ngan online

tutor nanti ni.....tul tak masta forestgreen )

p.s if u dint understang....google it, welcome to CG(suppose to be) 100% Malaysia )

Boonga boonga,what? reminds me of Indiana Jones and Temple of Doom...hey king of diamonds,

thanks for your hospitality..really appreciate it..howz kuala lumpur? The Russians said I

should google their language, the Japanese, the Indians,the Italians,Germans,even the

Peruvians tried to do me in but no online translation yet..like a frigging UN linguistic

convention met..would be grateful if you could teach me a lil Malay, for the ones I know is
virtually nonexistent..lol..going down to Singapore next year for some traders' conference

but dont know whether the language barrier can get me past the airport...thanks once again,

king of diamonds

Quote:

Originally Posted by mystikal

The present buy stop @ 14705, 1st target @ 14730, 2nd target @ 14745, sl @ 40 pips away, is

anticipated to yield 40 pips or so..more like chess.

Helloo there,folks,
Price made a BULLISH GAP on the start of the Asian session, and before we knew it, more than

40 pips was emancipated from our buy entry of 14705..

Even the 60% BUy WINDOW was negated as price on the GBPUSD dropped more than 200 pips

afterwards from the TRIANGLE PATTERN shown above.

Well, what can I say?

Quote:

Originally Posted by fx-liono

Hi guys

I think its just too riskiy trading full stop at the moment, spreads are wide, trend is non

existent, and volume is extremely low.

I think its best staying out until at least a week into new year when everyones back from

holidaying and markets have settled down some what!

But thats just what I am thinking!

Well, fxlion, maybe a lil positive mental attitude thinking might be in order?

forexgreenland · #72 (**permalink**) 12-30-2008, 12:04 PM

Quote:

Originally Posted by moneyadd

Hello guys,

I wanna say great job my strategy is very much like yours

But actually i don't watch the trades i just put the safe buy/sell STOP orders and targeting

10 pips .

I put my buy stop for up-trend when i get the confirmation of the 1,2,3 pattern at fibo

level 0.0 and only take 10 pips profit

the opposite for the sell but it's the same and i always lay those pips no loss

But after reading all your posts i might consider sitting in front of the screen and make

bigger profits .

My profits are big because i increase the lot size when my analysis gives higher probability

and i lay $200+ a day using it .

best of luck and again great job

but why aren't you drawing your fibo levels on the charts or you don't want it to look complicated ? :blink:

Helloo moneyadd, thanks for reading all my posts...trying to make the time to read them myself..lol..fibonacci are great support and resistance levels that can be used in trading to ascertain price movement..but even with the knowledge of 'fibo'' levels, many traders still make losses..prefer the 60% windows which are more simpler and accurate in my personal opinion..remember KISS? Keep it simple,Smarty..so its about applying the right tools for the right markets...not all size fits all in trading..

If you check out our chart below,we used the TRIANGLE PATTERN, more specifically, the SYMMETRICAL TRIANGLE PATTERN. but why is it called a triangle? Because it looks like one..Triangles usually form part way through a strongly trending move and represents a congestive phase in the marketplace. These patterns are important because they are typically followed by sharp increases or declines in price. An established triangle pattern is a valuable signal prior to a relatively predictable price change.

Yesterday, we made more than 200 pips from our symmetrical triangle which was part of our live practical trading.

1.4770-1.4576=0.0194
1.4651-0.0194=1.4457(target point)

Symmetrical triangles,which are lines connecting peaks and troughs tend to converge at the apex which is at the centre of the pattern.When price breaks outside of the pattern, there is a high probability that the price will trend in the direction of the breakout.Once price hit our target for more than 200 pips, it now retraced upwards,. Our buy stop @ 14507 caught the bullish correction for 75 pips..

Price then retraced downward again to our previous short target of 14457, hitting it twice..

Before we knew it, price knocked 3 times and slipped downwards where our sell stop was on hand to take the move...''come to papa''..

So moneyadd, hope you now understand...actually, my clients dont really want to know the process or method in which trading takes place...all they are concerned with is whether we make money at the end of the month,recession or not..thats the primary objective..making money.

Quote:

Originally Posted by jeffsmith

Can any one here tell why do clients trading this market online face

problems. I have been trading online with AVAFX and facing problems like not receiving proper mails from them on time, downloading problem, customer support is not responding etc.

I have also heard from other persons trading this market online facing the same problems.

After threatening the customer support people they are now responding on time.

But still i have not come to know why online clients face such problems.

sorry about that, jeff...try and look for a better and more honest broker...Even if you got the best strategy in the world, the choice of brokers is pertinent for the realization of your trading goals.

[11:53:40 30/12/08] Stalion : no need to be confused....we put a buy stop on gbpusd @

14550...1st target @ 14575..2nd target @ 14615..3rd target @ 14655

[11:53:44 30/12/08] Stalion : sl 50 pip away

forexgreenland · #73 (**permalink**) 12-31-2008, 10:19 PM

Quote:

Originally Posted by needinfo

Dear All,

Just a novice question. I keep hearing/reading the word 'intervene' by apex banks to control their currencies. When BoJ says it would intervene to maintain a strong USD, will there be any impact on EURUSD pair to maintain the correlation?

Helloo needinfo,central bank intervention is the buying and selling of currency, foreign or domestic, by central banks in order to influence market conditions or exchange rate movement for fiscal or monetary policy purposes.

Why should the Bank of Japan intervene for a strong dollar? Because it is to their best interests. Japan, as we all know, is an export driven economy and if the Japanese yen is stronger than the dollar, it hurt their exports and consequently their economy. Why import 15000 dollar cars from Japan when you can get it cheaper right there in America? Why import expensive electronics, computers,due to a strong yen, when you can get it cheaper from America itself, or even China or India?

But wait..Japan is also a savings oriented economy, in which, majority of the US international papers or debt are held by it...So the Japanese are not thrilled to watch the value of their investments in the US bond,Treasuries and Capital markets go down the drain as the US dollar weakens..

The USDJPY monthly chart below shows the decline of the currency pair..

Compared to EURUSD(eurodollar), which is on an uptrend,a strong dollar would have a weakening impact on the euro, popularly known in international financial circles, as the ''antidollar''.. Even Trichet, the President of the EU Central Bank(ECB) might likely welcome the gesture of the Japanese with open arms, because a strong dollar would weaken the euro and save them the unsavoury task of slashing interest rates in the nearest future..You could do more research if it affects your personal finance or business objectives, need

info..Did I hear someone say ''Don ichiban''?

Quote:

Originally Posted by mystikal

[11:53:40 30/12/08] Stalion : no need to be confused....we put a buy stop on gbpusd @

14550...1st target @ 14575..2nd target @ 14615..3rd target @ 14655

[11:53:44 30/12/08] Stalion : sl 50 pip away

Let me whisk you away to the forex charts on the DISSECTION OF A TRADE GONE WRONG. Remember the loss was also important though the LESSONS LEARNT from the loss are MORE IMPORTANT.
Now we are going into the reasons why we took a buy stop at that point..
A 123 bottom formation was observed prior to the alert given out, along with an inverted head and shoulder pattern forming at the bottom...Both are reversal pattern telling us that price is about to reverse from its downtrend to an uptrend.

MACD also made a positive convergence to price which was a buy signal..For the our fib fans out there, a la moneyadd, price made a turnaround on the 30% window, instead of the 60% sell window..which is not that unusual given the strong trend downward in price..

So it was more of a matter of TIMING, rather than STRATEGY. We might be right in taking a trade based on what our strategy is telling us, but if the timing is off bat,we take the loss...In this instance, we lost 50 pips yesterday..the market is always right..quite an humbling experience, isnt it?

So for today, wednesday, price finally came around and rocketed past our 3 targets like a valkyrie..technical analysiswise, our strategy was sound but the timing was off...price then compensated us with more than 105 pips..$105 minilot,$1050 standard lot on GBPUSD.

HAPPY NEW YEAR FOLKS and we give thanks to God for seeing us through a bumpy 2008..WELCOME

2009.

forexgreenland · #74 (**permalink**) 01-02-2009, 03:45 PM

Quote:

Originally Posted by radatats

Can someone please tell me why this pair should reverse its down

trend any time soon?

Hi radatats, I can see your chart was taken from the GBPUSD daily..The cable have been

staring at its bottomless pit like a deer in front of headlights for months now. Like the

picture suggests, GBPUSD has to break that upper resistance trendline before a reversal can

be said to take place.. And by price closing above the No 2 level of the 123 bottom( where

your 2nd purple arrow was), an uptrend can be said to confirmed in the midterm.MACD positive

divergence to price can also be seen on your chart which foretells a probable bullish run.
But remember, technical analysiswise,the trend is still down and traders are looking to sell

at any good upward correction level. I see no changes..''Buy the dips, Sell the

rallies''..ratatatata..thats just the way it is..

Quote:

Originally Posted by jehunter

Hello Mystic, I am enjoying your threads and trying hard to understand

it all. I am a realitively new to forex trading and your way of trading fits the style of

trading I would like to master. So again Thank You and keep up the good work.

Since I am a reader of your treads, can you please send me a copy of the e-books listed

below. I would very much appreciate it.

1 The Art Of Creativity
2 Fibonacci Trading - How To Master The Time and Price Advantage

Tsk tsk tsk tsk...ur enjoying my threads and still trying hard to understand it all? Nice

paradox, jehunter...believe me, ur not all alone...such is life...lol
If one of your New Year resolutions is to invest in yourself positively and creatively, I'll

be glad to help in that respect, mon ami..Please pm your email address so I can send it to

you,ok..Thanks..

So for today, Friday the 2nd of January 2009, we are looking at GBPUSD 15 minute chart where

TA wise, price is supposed to make a turnaround to the downside..while fundamentally, price

is supposed to go up due to the lower expectations of the US ISM reports coming out 4pm

Nigerian time.. so in less than 10mins from now, news is coming out...To Be Or Not To Be? TA

or FUNDAMENTALS?
we put a sell stop on GBPUSD @ 14515..1ST TARGET @ 14490..2ND TARGET @ 14465..14415...
Also a BUY stop @ 14535..1st target @ 14575..2nd target @ 14515..3rd target @ 14655..50 pip

sl

forexgreenland · #75 (**permalink**) 01-06-2009, 12:08 AM

Quote:

Originally Posted by jehunter

Thank You. I am definately interested in investing in myself

positively and creatively for the new year. I would like nothing better than to get off to

a good start for the new year. See my pm mail address below to send me the 1 The Art Of

Creativity & 2 Fibonacci Trading - How To Master The Time and Price Advantage.

PM email address

jehunter@cox.net

Thank you again.

cool....please check your email box in some few hours,jehunter..And a tip..maybe you could consider WRITING your goals out for the year 2009..10 to 15 goals are okay..might be daily, weekly or monthly..just write it out and go through them regularly so as to keep focused,okay..Brian Tracy taught that strategy.

Quote:

Originally Posted by king_diamond

apa menatang dia ni merepek ni.....

shuo.. if i yarn wafi for you,you go ja..abi no be to gazu the kuza naim be the koko..google

am whether you go understand wetin me yarn

Quote:

Originally Posted by Strategist

What the name of this system? Is it really good like I see on this

graph?

Yes it is,Strategist...The name is the CHART PATTERN RECOGNITION AND PRICE PROJECTION STRATEGY. I dont mean to brag, but its one of the best techniques any dedicated trader could use to be profitable in the markets..I get invited to speak on international traders conferences on this strategy..at least,thats shows how good it is. Though it is not 100% perfect neither is it the ''Holy Grail'',you can be rest assured that your trading performance would get the required EDGE to beat the markets,especially in the long term.

Quote:

Quote from TradeViper:

forexgreen, very smart to show only 71% positive trade rate, not an outrageous number

like 90%, but not too low. Now if the statement was audited and certified by an

internationally known firm, I think it might just matter. By the way, where are Mandel and

Reaver????

Tradeviper,your venom is simply out of this world, you know..seems you really took the time to go through my performance report over the last 3 months of turbulent trading. Actually, I didnt even know it was up to 71%, so you must be a good statistician. You can manipulate the figures but you cant manipulate the graph of the detailed report.Check the graph below the figures again and see if they match.Even if alien extra terrestians fly down with their UFO to audit the report, there would still be doubting Thomases..so I'm not bothered.
Look at Madoff..Are you trying to tell me that 'internationally known firms' didnt audited his reports over a decade before +$50 billion was ripped off? some say Steven Spielberg, who
was one of the 'casualities', might get sued by Madoff for the rights of the pending
Hollywood blockbuster film chronicling the scandal.
I believe in honesty and ethics in my chosen path..Trading is a vocation where many are
called but few are chosen.I've paid my dues and am still paying my dues in this
industry,tradeviper..easy on the hiss,plzzz
By the way, Who are Mandel and Reaver? Sounds like Beavith n Butthead?

[09:30:38 05/01/09] Stalion : helloo fellas

[09:31:09 05/01/09] Stalion : no news worthy item for Monday so we stick to our friday's

short call

[09:34:59 05/01/09] Learning_pips : hi stal

[09:38:18 05/01/09] Learning_pips : its quite funny though in carolyn's book there is a

mention of a gartley pattern which is a complete opp of the 1-2-3 pattern

[09:40:45 05/01/09] Stalion : hmmmm....havent had time to read it myself

[09:42:19 05/01/09] Learning_pips : its chapter 8, two step pattern..she identifies the

1-2-3 pattern/gartley pattern as a continuation pattern..quite interesting..

[09:42:46 05/01/09] blue : hi

[09:42:55 05/01/09] Stalion : gartley pattern on fibonnacci?

[09:43:05 05/01/09] Learning_pips : just goes to show how many ways patterns can be

interpreted by different people

[09:43:16 05/01/09] Stalion : helloo there blue

[09:43:46 05/01/09] Learning_pips : basically fibs have to applied on the pattern to

identify a cluster

[09:45:03 05/01/09] Learning_pips : "The two-step trade setup is a zigzag pattern that

corrects a prior trend"

[09:45:09 05/01/09] Stalion : range/consolidation pattern? can u identify it on a chart?

[09:45:44 05/01/09] blue : Stalion im new here

[09:46:04 05/01/09] Learning_pips : basically the pattern is exactly the same as a 1-2-3

pattern but she says that its a continuation pattern

[09:46:10 05/01/09] Stalion : cool....howz trading, blue?

[09:46:26 05/01/09] blue : Stalion not so gud

[09:47:18 05/01/09] Stalion : meaning d downtrend would continue? can you give us an example

on a live chart?

[09:47:24 05/01/09] Learning_pips : so according to her once we have points 1 and 2, we can

apply fibs to identify a cluster where 3 would be and the price after it reaches 3 would

continue its decline if we take 1-2-3 as a bottom

[09:47:55 05/01/09] Stalion : how do you mean, blue?

[09:48:35 05/01/09] blue : Stalion im bearing a lot of loss for past few months

[09:48:36 05/01/09] Learning_pips : well there are numerous examples n the book, i am trying

to establish it in the live charts..will keep u posted..any insights on today

[09:50:41 05/01/09] blue : Stalionim so tense now a days

[09:50:49 05/01/09] Stalion : whatabout strategy?

[09:51:48 05/01/09] blue : Stalion actually i was just trading by my own mind and short

trade with the stop but mostly i faced my stop hit

[09:52:48 05/01/09] Stalion : as in, what is ur strategy in which you've been using all

those while?

[09:53:21 05/01/09] blue : Stalion actually i just watch chart with 1 hourly candle and its

spread

[09:59:07 05/01/09] Stalion : hey, dats not a strategy ,blue...just a hourly candle and

spread? did you take any training before going live?

[09:59:07 05/01/09] Maurizio77 : morning all - happy new year

[09:59:13 05/01/09] blue : hi im from pak

[10:00:13 05/01/09] blue : Stalion unfortunately im not trained and thts why im so tense

[10:11:47 05/01/09] realjimmy : such a good day!!! you guys win??

[10:13:13 05/01/09] Learning_pips : no jimmy..missed it

[10:17:03 05/01/09] Stalion : blue, in trading, you have to be trained for you are going

against professionals that have been in the game for years and know what they are

doing...its like a novice trying to play in the Champions League..no chance of winning if

you are not aware of the rules of d game

[10:29:49 05/01/09] Stalion : also using different free signals from different sources on ur

live account is only asking to get blown out on margin call...no accountability or

committment from both sides..

[10:34:59 05/01/09] Maurizio77 : reckon we'll be seeing a breakout on eur/jpy soon

[10:40:46 05/01/09] Stalion : for euroyen, we put a sell stop @ 127.49...1st target @

127.25..2nd target @ 127.08...50 pip sl

[10:45:37 05/01/09] effendy40 : hi stalion

[10:49:50 05/01/09] blue : Stalion wht wil be its buying stop

[10:51:22 05/01/09] Stalion : well, for now, no buying stop since we are looking for eurjpy

to go down in the short term...dats why the sell stop

[10:54:14 05/01/09] Learning_pips : stal the eurjpy entry is 1-2-3 if i am not worng?

[10:57:27 05/01/09] Stalion : 1st target hit on eurjpy..take half profits and move stop loss

to entry

[10:58:52 05/01/09] Stalion : the 123 pattern has already been fulfilled with the high at

128.49...

[10:59:23 05/01/09] Stalion : remember different techniques as price moves

dynamically,pips..

[10:59:45 05/01/09] Stalion : 2nd target hit on eurjpy!

[11:00:19 05/01/09] Stalion : 41 pips made in less than 1 hour on a monday morning

[11:00:27 05/01/09] Learning_pips : right..sorry realised that later

[11:02:16 05/01/09] Learning_pips : i just checked, our entry point was at 60% sell window of the previous swing..nice!

[11:04:55 05/01/09] Stalion : cool...great start to the week...and for the New Year..

[11:11:42 05/01/09] Stalion : dats all for today...tommorrow is another day...41 pips,$41

minilot,$410 standard lot on eurjpy...

Helloo fellow traders, for today Teusday 6th of January,1.00 am, we put a sell stop on GBPUSD @ 1.4635..1st target @ 1.4605..2nd target @ 1.4575..3rd target @ 1.4545...50 pips stop loss..take half profits when +20 pips ahead then shift stop loss to entry point.

forexgreenland · #76 (**permalink**) 03-18-2009, 12:11 PM

Quote:

Originally posted by Julieviola:
[QB] I really don't much about the psychology of stock trading but one that got me is the

"having" or the noobs quest for more money. As novice in this field I try to take a lot of

advice from many sectors and other forums similar to this one but my problem is information

overload.

It's so easy for a novice to get overloaded with information that instead of making a head

way in their quest to make more money, they simply sucks and cannot function as they should.

Don't get me wrong but the original thread is something for a novice like me to really put

into consideration.

Thanks for the tip [/QB]

Hi Julie...thanks for your mail...you are right when you mentioned the ''paralysis by

analysis'' factor that disable the functions of majority of the traders due to information

overload.In pursuit of the quest for profits, most of us tend to disregard the knowledge,

patience and determination required to come out on top in any field of endeavour,instead we

only focus on money..''how much can I make daily?''...I deserve a 100 pips dropping like

clockwork each and every day''... Stay with me here,viola, there's a madness to the method

and method to the madness..Its called the LAW OF DETACHMENT...thanks once again for your

comments, julieviola

Hey forexgreenland, we have missed you at NIGERIA BEST FORUM . NBF.
Since its been a while, we thought we would send you a personal invitation to return.

Hello, forexgreenland!
We've noticed that you've not been active on ForexForums.org for quite some time now, and we

miss you!

Could we not tempt you back?

Hmmm.....no need to do that,mon amis...am back....just being occupied by lots of projects

lately...so little or no time to post as much as before...

Quote:

Originally Posted by dollarfinder

It seems like one of the most common questions we get, especially

from those new to trading, is something along the lines of "Which is better? Technical

analysis or fundamental analysis?" There's no perfect answer to that question, just like

there is no perfect technical system, nor perfect fundamental criteria. In fact, the best

answer may simply be "It depends on what works for your style of trading".

So if you choose one strategy, then work for it.. But if you want to use the two, then

that's better.. Combination of these two methods could give you too much advantage.

Nice observation, dollarfinder...I concur with your findings...There's no 100% perfect

system, whether technical analysis or fundamental news analysis..What matters most is proper

RISK MANAGEMENT in trading.. How long can your equity last if your system is on a losing

streak? How far can you go when the market goes schizophrenic over a period? 5 trades? 20

trades? 50 or a 100 trades before margin call...Hot situation makes a nice one, whatchu

gonna do...call 911?That is what majority of the professional traders focus on when

trading...Even in cooking, recipes of dishes are added proportionally, instead of putting

the ingredients all at the same time.. That proportional blending eventually brings about a

nice savoury dish....yumm yumm..Anyone hungry?

Frank Says:

Hello, thank you for this Posting. I am reading this Blog very often and i like to read this

blog. I hope you writing alot in this Blog. What you have to doo is to write more in this

Blog about everything.

Quote:

Originally Posted by jehunter

Hi Mistikal,

You responded to my message on 01/06/09 regarding the two e-books listed below: I have not

received them as-of-yet. Please send them to me at your earliest convience, I am anxious to

learn how to trade in this new year. My PM address is...jehunter@cox.net

1 The Art Of Creativity
2 Fibonacci Trading - How To Master The Time and Price Advantage

Thank You and keep up the good work! You're the best.

I know, I know, jehunter....better to be the hunter than to be the hunted,especially of

pips..lol...wud send it as soon as possible,okay...

Quote:

Originally Posted by hayabusat

Hi Stalion,

I saw some -ve and some +ve comments on your thread. I don't really care about those -ve

comments. It's not fair to judge boobs by its cover

. Personally am impressed with the

strategy you are using and I would like to learn it from you. Can you please tell how I can

join you during trading. Thanks.

Darn hayabusat,easy on the boobs fixation,okay...or you want to change the title of ''Sex in

the City'' to Sex in the Trading?not that healthy for clarity of mind..I must say.. Trading

mostly commences during the London Session where you have less range activity and more

stable volatility.

[10:02:58] Stalion : sell gbpusd @ 13920...1st target @ 13840...2nd target @ 13765...50 pip

sl.

theawa11.gif

Linuxser · #77 (**permalink**) 03-19-2009, 03:41 AM

Quote:

Originally Posted by forexgreenland

sl.

Attachment 80204

Upload the images to forum, pls.

forexgreenland · #78 (**permalink**) 03-21-2009, 06:37 PM

Quote:

Originally Posted by onwukarisa

Hello Stallion,

You have not been posting for some time now. hope all is okay???

Please if you dont mind,i will like to ask you to tell me how you do draw your
trendlines on the price chart and MACD.
what and what do you consider or do before and while drawing them.

Also i want to develop a good entry and exit method while trading so that i will not enter

late or leave too soon on the market. please advise me on how to do this .

Please advise

Onwuka Arisa

Helloo there Onwuka, nice to get your mail... We thank God for everything..We should also

know there are times we shouldnt ignore our personal needs in order to satisfy others

needs..A burnt out Stallion is of no good to himself or to the people..just cant give out

from an empty cup whether you see it half filled or empty..so creative silence or quiet time

is essential for each and every human being..Mind you, you dont have to be a hermit

hibernating in a cave or a monk in the Himalayas before you get the centre of balance

within.. seems your questions have been asked before, and the answer was given..most times,

I often had to go back and read through the whole thread so as to get a better perspective

of where we are coming from and where we are
going..

Forex Chart Pattern Recognition technique on the Breakout System - Page 7 - Forex Peace Army Forum

Forex Chart Pattern Recognition technique on the Breakout System - Page 14 - Forex Peace Army Forum

To summarize, trendlines are connected from the current resistance/support high or low to

the previous resistance/support high or low of the candlebars.

It is also connected, if using MACD,between the current peak(highs) to the previous peak or

between the current trough(lows) and previous troughs of the MACD line. When the price

trendline is ascending in an uptrend and MACD trendline is descending in a downtrend, it is

called NEGATIVE DIVERGENCE.. When price trendline is downward and MACD trendline is upward,

it means POSITIVE DIVERGENCE.

Good entries and exits are also strategies that depends mainly on risk management principles

like risk to reward ratios.Most newbie traders/sportsmen wants to know the tricks...instant

gratification without expenditure of responsibilty..Your entries might be good but whatabout

whipsaws?what if you had perfect entry but the timing of the move sucks?How much are you

prepared to risk if the ''perfect entry'' does not manifest? Those are questions we should

ask ourselves before and during trading..

Quote:

Originally Posted by Natalie

Can anyone recommend a good platform for trading CFDs?

Hi Natalie, to paraphrase annacoulli..

Quote:

Originally Posted by annacoull

Brokers fall into 3 broad categories: ECN, non dealing and market maker

and from experience I have found there are at least 16 questions you should ask before

opening a forex account and these are as follows:

1. What is the net capital of the company
2. Is the company regulated
3. Is the company a dealer or a broker
4. What are the leverage and margin rules
5. What are the costs of trading
6. Does the company offer telephone support
7. How easy is the platform to use
8. Is the trading platform reliable
9. What is the charting like
10. How long has the company been in business
11. What reputation does it have in the forums
12. Trading style and order types
13. Micro, mini and regular account spreads
14. Interest on the account
15. Hedge trades allowed
16. Rollover

Once you have your answers it is so important to select a broker which matches your trading

style - it is pointless opening an account with a broker which is classified as a market

maker and then expect to be able to scalp - you will not be able to do so because spreads

widen alarmingly when the markets are volatile.

So CFDs(Contracts for Difference), are cash settled derivatives that reflect their

underlying markets like stocks, futures or forex contracts.CFDs can easily be traded short,

transaction speeds are usually fast, and they have low margin specifications, like 10% for

shares, 5% for share indices,5% for futures and 2% for currencies.They are also generally

open ended, as in, they have no expiration dates like options, commodities or warrants.

Another thing that makes CFDs stand out is they are available for diverse underlying markets

like the US, UK AND European shares CFDs, sector CFDs like Banks, Real Estate,Oil and Gas,

as well as forex and futures pairs.

Quote:

Originally Posted by nasir.khan

hello whats your setting for MACD indicater . Thanks.

Helloo nasir.khan...any relation with genghis or kublai khan? anyways, you can just use the

standard settings on your platform, which is usually 12,26,9.. You could still tweak the

settings and compare the changes on the MACD indicator to price above...whichever one fits

your style is okay...

Quote:

Originally Posted by Anne09

yeah i know forexgreenland your work speaks for itself.........but can you

tell me why you always summit chats on your maximum post. don't you have anything to

discuss....

Hmmm, this sounds like a counterattack from one of the feminine species,not just a welcome

party....Somebody stop me!You want to know why, mami? It is because those chats and charts

mainly represents a reflection of operations in the trading trenches..reflects trading minds

at different levels in which enlightening market themes and principles can be glimpsed and

learnt from..
At the risk of getting my eyes scratched out by our female folks, there are some

observations on the gender aspect to trading.females are less willing to take risk but more

willing to stick to their rules..Alpha male stereotypes tend to do the opposite..too much

machismo, too much ego on the line...brings about stumbling blocks to our trading life..so

if good traders are consistent at abiding to their rules and not taking unnecessary risks,

the ladies should do better in their pyschological makeup to trading. So guys, we got a lot

to learn from our womenfolk..thanks for your constructive criticism, Anne

forexgreenland · #79 (**permalink**) 03-24-2009, 05:59 PM

Quote:

Originally Posted by khairul6355

How to set the graph become like this ?

Hi khairu, the red and blue lines you see on the chart is brought about through putting up a buy or sell order, which reflects on the ''graph''...To write out a text, just click the ''Insert'' tab above, next to ''View'' tab on your MT4 platform.. There, you can also experiment with trendlines, shapes, arrows, fib, gann..etc...just play around with it first and see how it translates on your chart.

So for today, Teusday, we could see a head and shoulder pattern on the GBPUSD 15 min chart,so we are looking for a bearish move down south...wow..

Sell stop on cable @ 14614...1st target @ 14565..2nd target @ 14535..50 pips stop loss...Take half profits when +20 pips ahead, then shift stop loss to sell entry level.

[quote=Fxcool;22843] Hmmm the chart is showing breakout for short sell

Cool..Fxcool...if it breaks our triangle to the downside, we are looking at a short sell,

like you said..but if price breaches the ''HEAD''(1.4775) level of the Head and shoulder pattern, then we might be seeing the continuation of a new uptrend..so buy stop at 14775..1st target @ 14825, 2nd target @14865..50 pip stop loss

forexgreenland · #80 (**permalink**) 04-21-2009, 06:13 PM

Marike says, "Hi Sylvester,

I am a south african girl and very interested in learning how to trade forex. Is there

anyone in Johannesburg or website that can teach me the basics in trading because I have NO

experience.

Thanks
Marike.".

Hi Marike, sorry I'm in Lagos,Nigeria and am not yet familiar with anyone in

johannesbourg,SA that could teach you the basics...You can try Forex Trading: Online Currency Trading in the Foreign Exchange Market, and

Forex Factory, where some forex basics are posted.
Thanks once again.

Maximum wrote
Hi Sylvester, I was watching your alpari account that you provide on your site and I was

like very surprise when I saw that the account when from 9500$ to less then 7000$, what

happen, there was a big loss of 1000$ for one trade, could you explain to me please.... thx

Max

Helloo Max,
Thanks for your mail...The drawdowns were brought about by my divided focus lately, for I'm

about completing my new forex book which has a deadline of a couple of weeks. This new

project, which had been postponed so many times earlier,has taken up my time for dedicated

trading...like a tradeoff, I might have to suspend market action for a short period in

order to fully concetrate on the task at hand...which is writing and publishing this

expository manuscript, without much external distractions.
So max, dont worry,once my new project is completed, I;ll pick up from where I left off,

presumably in a month's time...so as to give my usual undivided focus back on real time

trading..
Thanks for your concern, my friend....please ask any questions or comments you might feel

like communicating in the meantime..

Quote:

Originally Posted by jrob195

Hi

When you specify limits or stops, does it always work.

Honest Injun, no padner...nothing always work all the time...remember we are living in an

imperfect world...the only method to mitigate against unnecessary losses from trade entries

and exits, is proper risk/money management and discipline.

Consumer prices dip unexpectedly in March