FOREX....The best pair to trade and why? - GoFuckYourself.com

BVF · 02-01-2009, 09:17 PM

I'm looking into forex and downloaded the software for a practice account at forex.com...I just downloaded it and after a long day, I don't have the mental capacity to try to absorb the basics of it right now beyond the video tutorials...

Anyway, if you trade forex, which pair do you like and why?

I'm thinking I'll do the Euro/Dollar since I would at least know what's going on here in the US...

My second pick is the Dollar/Yen but I have no reasonings why I picked it.

marketsmart · 02-01-2009, 09:19 PM

i only trade the yen pairs and right now i am only trading the usd/jpy since oct..

if you want to learn forex, start at babypips.com and learn all you can as well as try testing some of the more popular metatrader indicators..

candyflip · 02-01-2009, 09:19 PM

I don't want to give any advice and have you lose your bankroll.

I will tell you this, I spent almost 3 months doing the offline practice trading before I jumped into a real money account.

http://babypips.com

Jakez · 02-01-2009, 09:25 PM

I read into the basics of it a looong time ago but never got serious. Definitely should play around on practice account(s) for some months to a year first though. 2c

HandballJim · 02-01-2009, 09:36 PM

Your better off trading stocks, they are down 60%...buy low...sell high.

If you want something safe with steady returns try, DWS Strategic Government Securities A (KUSAX) and reinvest all divideds

http://finance.yahoo.com/q?s=KUSAX Someone recently showed me their statements, an investment of like 25k was now 80k after like 20 years.

BVF · 02-02-2009, 05:48 AM

Quote:

Originally Posted by marketsmart

i only trade the yen pairs and right now i am only trading the usd/jpy since oct..

if you want to learn forex, start at babypips.com and learn all you can as well as try testing some of the more popular metatrader indicators..

Yeah I'm in preschool at babypips and I have a practice account with no real money in it.

Also, why are you trading the yen? Do you need to know anything more than basic Japanese economics to trade it?

kmanrox · 02-02-2009, 06:04 AM

Quote:

Originally Posted by BVF

I don't have the mental capacity to try to absorb the basics

ain't genetics a bitch?

BVF · 02-02-2009, 06:14 AM

Quote:

Originally Posted by kmanrox

ain't genetics a bitch?

Ain't yo mama a bitch?

stevo · 02-03-2009, 04:48 AM

I basically trade all the major pairs, as long as the spreads stay low. Just study the charts and play each one at the right time.

Forex is a lot more fun than trading stocks. It takes very little money to make a lot of money!

Yesterday was my first full day in Micro Forex. I'm just playing with chump change for now, to learn more of the basics. Yesterday i lost my first $100. Deposited another $100 and turned it into $400. Then got greedy and dropped it back down to $95. So i pretty much wasted 8 hours of trading.

Todays looking pretty good so far, i'll try to be more patient, play smaller orders, and try not to get greedy.

Learn to read charts before you even get in the Forex game...

Garvin · 02-03-2009, 05:23 AM

>> Deposited another $100 and turned it into $400 <<

WTF what exactly did you do to make and lose 400% at forex in less than 8 hours???

Pim(P) · 02-03-2009, 05:32 AM

Go with an ECN broker

seeandsee · 02-03-2009, 05:39 AM

maybe i should try

Antonio · 02-03-2009, 05:49 AM

Quote:

Originally Posted by marketsmart

i only trade the yen pairs and right now i am only trading the usd/jpy since oct..

if you want to learn forex, start at babypips.com and learn all you can as well as try testing some of the more popular metatrader indicators..

are you getting any interest with your broker (rollover)?

Going long on a high interest pair at one broker that pays interest and short with another one that doesn't pay interest - does that still work? With the nice leverage you could be collecting a few hundred bucks per month .. at least on theory, some dudes say the paying interest broker will can your account... just curious.

pornguy · 02-03-2009, 06:07 AM

Be careful and dont risk money you can not afford to lose.

BVF · 02-03-2009, 09:07 AM

Quote:

Originally Posted by pornguy

Be careful and dont risk money you can not afford to lose.

HorseShit · 02-03-2009, 09:12 AM

forex 4 lyfe

Brooke Anderson · 02-03-2009, 09:41 AM

We are automating our trading. Smaller profits over a bunch of trades. That takes the emotions out of it. Emotions about wanting to make that little bit extra are what screw people.

BVF · 02-03-2009, 05:59 PM

Quote:

Originally Posted by Brooke Anderson

We are automating our trading. Smaller profits over a bunch of trades. That takes the emotions out of it. Emotions about wanting to make that little bit extra are what screw people.

Did you buy the software yourself or did you customize your own? And if you bought it, where?

NextBigTube · 02-03-2009, 06:04 PM

I hate spreads

sandman! · 02-03-2009, 06:47 PM

interesting way to make some coin!

Lamis · 02-04-2009, 12:45 AM

Quote:

Originally Posted by candyflip

I don't want to give any advice and have you lose your bankroll.

I will tell you this, I spent almost 3 months doing the offline practice trading before I jumped into a real money account.

http://babypips.com

Are you doing any money yet in live????? What trading method r u using?

mynameisjim · 02-04-2009, 01:18 AM

Is Forex like the new thing the way day trading was in the late 90's?

Not saying it can't make money, it just reminds me of how all my friends were daytraders back then but I never saw them with any money.

But I think trading is like a being a stripper. The most you ever made in one day is what you tell people you make everyday.

mikesinner · 02-04-2009, 01:44 AM

Quote:

Originally Posted by mynameisjim

But I think trading is like a being a stripper. The most you ever made in one day is what you tell people you make everyday.

Awww, a very wise man.

rowan · 02-04-2009, 05:09 AM

I don't have the mind for long term analysis and conclusions, so I'm still searching for a technical system that works reasonably well. I did find one that was moving ahead slowly (eg a lot of losses, but still a net gain) but then it turned and I lost interest. :D

If you watch USD/JPY and you're quick you can do small trades which might make you a few bucks each time. It often shoots one way then corrects itself a few seconds later.

rowan · 02-05-2009, 10:02 AM

I am a thread killer

stevo · 02-05-2009, 10:46 AM

After doing pretty good, I emptied my account... I'm good at doubling my account, but even better at losing it all. I'll try agian after playing the demo's some more.

A few tips and thoughts:
1) Don't base your trades off of the 1 min charts. They're too volatile, and usually change direction instantly. I consider myself a half decent chart reader and some of those momentum moves were rediculous.
2) Next go around i think i will mainly play the 5 min - 15 min charts, for they're a lot more reliable. I'll make sure to have enough money in my account to handle the 1 minute chart swings, otherwise the margin calls will just destroy your account balance.
3) Learn to hedge or atleast set stop limits. Don't chase your losses, it will usually result in bigger losses. If your good with chart reading, your picks will usually be winners. The important part is knowing how to lose - set your stop limits to kill trades once they go against the chart or break resistance/support levels - and move onto the next trade.
4) Don't get too confident. My first day i made 15 profitable picks in a row and then lost it all going big. Set some trading rules and stick to them.
5) Don't rush into trades. Make sure to study the indicators. Only buy if it passes all of your tests.

DamageX · 02-05-2009, 11:11 AM

Quote:

Originally Posted by stevo

Yesterday was my first full day in Micro Forex. I'm just playing with chump change for now, to learn more of the basics. Yesterday i lost my first $100. Deposited another $100 and turned it into $400. Then got greedy and dropped it back down to $95. So i pretty much wasted 8 hours of trading.

Holy wreckless trading Batman...

02-01-2009, 09:17 PM	#1
BVF Black Vagina Finder Join Date: Jan 2002 Location: The Midwest Posts: 13,975	FOREX....The best pair to trade and why? I'm looking into forex and downloaded the software for a practice account at forex.com...I just downloaded it and after a long day, I don't have the mental capacity to try to absorb the basics of it right now beyond the video tutorials... Anyway, if you trade forex, which pair do you like and why? I'm thinking I'll do the Euro/Dollar since I would at least know what's going on here in the US... My second pick is the Dollar/Yen but I have no reasonings why I picked it. __________________ Black Pussy Click On Mr Cosby..CCbill, 60/40, 136 FHG's....The Cos Loves Black Ghetto Pussy!!

02-01-2009, 09:19 PM	#3
candyflip Carpe Visio Industry Role: Join Date: Jul 2002 Location: New York Posts: 43,064	I don't want to give any advice and have you lose your bankroll. I will tell you this, I spent almost 3 months doing the offline practice trading before I jumped into a real money account. http://babypips.com __________________ Spend you some brain. Email Me

02-01-2009, 09:25 PM	#4
Jakez Confirmed User Industry Role: Join Date: Jan 2004 Location: oddfuturewolfgangkillthemall!!!!!!! Posts: 5,656	I read into the basics of it a looong time ago but never got serious. Definitely should play around on practice account(s) for some months to a year first though. 2c __________________ [email protected] - jakezdumb - 573689400 Killuminati

02-01-2009, 09:36 PM	#5
HandballJim Confirmed User Industry Role: Join Date: Sep 2008 Location: NYC Posts: 4,024	Your better off trading stocks, they are down 60%...buy low...sell high. If you want something safe with steady returns try, DWS Strategic Government Securities A (KUSAX) and reinvest all divideds http://finance.yahoo.com/q?s=KUSAX Someone recently showed me their statements, an investment of like 25k was now 80k after like 20 years. __________________ HOW I MAKE LOTS OF $$$

02-03-2009, 05:23 AM	#10
Garvin Confirmed User Join Date: Sep 2002 Posts: 174	>> Deposited another $100 and turned it into $400 << WTF what exactly did you do to make and lose 400% at forex in less than 8 hours??? __________________ $19 logos Servint Hosting sturdy host with kick ass 24/7 support

02-01-2009, 09:19 PM	#2
marketsmart HOMICIDAL TROLL KILLER Industry Role: Join Date: Dec 2004 Location: Sunnybrook Institution for the Criminally Insane Posts: 20,419	i only trade the yen pairs and right now i am only trading the usd/jpy since oct.. if you want to learn forex, start at babypips.com and learn all you can as well as try testing some of the more popular metatrader indicators..

02-03-2009, 04:48 AM	#9
stevo Confirmed User Join Date: Aug 2002 Location: Orlando, Florida Posts: 2,051	I basically trade all the major pairs, as long as the spreads stay low. Just study the charts and play each one at the right time. Forex is a lot more fun than trading stocks. It takes very little money to make a lot of money! Yesterday was my first full day in Micro Forex. I'm just playing with chump change for now, to learn more of the basics. Yesterday i lost my first $100. Deposited another $100 and turned it into $400. Then got greedy and dropped it back down to $95. So i pretty much wasted 8 hours of trading. Todays looking pretty good so far, i'll try to be more patient, play smaller orders, and try not to get greedy. Learn to read charts before you even get in the Forex game...

02-03-2009, 05:32 AM	#11
Pim(P) Confirmed User Industry Role: Join Date: Jun 2005 Posts: 583	Go with an ECN broker

02-03-2009, 05:39 AM	#12
seeandsee Check SIG! Industry Role: Join Date: Mar 2006 Location: Europe (Skype: gojkoas) Posts: 50,945	maybe i should try __________________ BUY MY SIG - 50$/Year Contact here

02-03-2009, 06:07 AM	#14
pornguy Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Homeless Posts: 62,911	Be careful and dont risk money you can not afford to lose. __________________ PornGuy skype me pornguy_epic AmateurDough The Hottes Shemales online! TChicks.com \| Angeles Cid \| Mariana Cordoba \| MAILERS WELCOME!

02-03-2009, 09:12 AM	#16
HorseShit Too lazy to set a custom title Join Date: Dec 2004 Posts: 17,513	forex 4 lyfe

02-03-2009, 09:41 AM	#17
Brooke Anderson Confirmed User Join Date: Jan 2006 Location: Missouri, near Kansas City Posts: 346	We are automating our trading. Smaller profits over a bunch of trades. That takes the emotions out of it. Emotions about wanting to make that little bit extra are what screw people. __________________ www.4realcash.com

02-03-2009, 06:04 PM	#19
NextBigTube Confirmed User Join Date: Oct 2008 Posts: 352	I hate spreads __________________ Porn Tubes Hawt Tube,Next Big Tube, Gay Tube Tube 4 Gay Amazon.com Discount Finder

02-03-2009, 06:47 PM	#20
sandman! Icq: 14420613 Industry Role: Join Date: Mar 2001 Location: chicago Posts: 15,432	interesting way to make some coin! __________________ Need WebHosting ? Email me for some great deals [email protected]

02-04-2009, 01:18 AM	#22
mynameisjim Confirmed User Join Date: Aug 2007 Posts: 2,985	Is Forex like the new thing the way day trading was in the late 90's? Not saying it can't make money, it just reminds me of how all my friends were daytraders back then but I never saw them with any money. But I think trading is like a being a stripper. The most you ever made in one day is what you tell people you make everyday. __________________ jim (at) amateursconvert . com Amateurs Convert

02-04-2009, 05:09 AM	#24
rowan Too lazy to set a custom title Join Date: Mar 2002 Location: Australia Posts: 17,393	I don't have the mind for long term analysis and conclusions, so I'm still searching for a technical system that works reasonably well. I did find one that was moving ahead slowly (eg a lot of losses, but still a net gain) but then it turned and I lost interest. :D If you watch USD/JPY and you're quick you can do small trades which might make you a few bucks each time. It often shoots one way then corrects itself a few seconds later.

02-05-2009, 10:02 AM	#25
rowan Too lazy to set a custom title Join Date: Mar 2002 Location: Australia Posts: 17,393	I am a thread killer

02-05-2009, 10:46 AM	#26
stevo Confirmed User Join Date: Aug 2002 Location: Orlando, Florida Posts: 2,051	After doing pretty good, I emptied my account... I'm good at doubling my account, but even better at losing it all. I'll try agian after playing the demo's some more. A few tips and thoughts: 1) Don't base your trades off of the 1 min charts. They're too volatile, and usually change direction instantly. I consider myself a half decent chart reader and some of those momentum moves were rediculous. 2) Next go around i think i will mainly play the 5 min - 15 min charts, for they're a lot more reliable. I'll make sure to have enough money in my account to handle the 1 minute chart swings, otherwise the margin calls will just destroy your account balance. 3) Learn to hedge or atleast set stop limits. Don't chase your losses, it will usually result in bigger losses. If your good with chart reading, your picks will usually be winners. The important part is knowing how to lose - set your stop limits to kill trades once they go against the chart or break resistance/support levels - and move onto the next trade. 4) Don't get too confident. My first day i made 15 profitable picks in a row and then lost it all going big. Set some trading rules and stick to them. 5) Don't rush into trades. Make sure to study the indicators. Only buy if it passes all of your tests.