Take your currency speculation courses and stick it up your ass, thieves.

I hate Bush, but at the same time with the economy and future of the US at the hands of uncertainty, you are damn right I will make my money where i can.

So far I have heard nothing but insults from you and no intelligence... i would say you are more of the problem (all talk with no solutions) than people like me that know how to take advantage of a market situation...

if you dont have aything intelligent to say, then why dont you keep ypour insecurities to yourself....

Fun isn't over, then you start going long on it. :P

IMHO the wild swings are slowing down anyhow. Get your money into US equities, in USD. Both rising in the next 5, double up on your gains.

Most speculative forex systems end up looking like this:
http://www.collective2.com/images/ch.../c26451959.png

You'll go up parabolically until the trend turns around so fast and so hard that you won't have time to blink (and blows out your account). Using so much leverage you're just setting up yourself for long-tail events (things that 'wont'' happen but they actually do).

congrats man, that are some serious skills :thumbsup doesnt matter that you are saying you are a "forex idiot" ;) keep up the great work! :thumbsup

fyi, i am going to bed. atm i am $346.01 in the red. but i know i will be in the black today or on monday at the latest. i could have averaged down and would be in the black right now, but i wanted to prove a point in that forex trading is a no brainer right now. check back and see how i ended up.... $1.459220 is what i am in for all you naysayers.... again i could have avereged down but i wanted to let it ride today..

normally i dont sleep when i am trading but i am so confident that i will be in the black by mondayb that i will let it ride even though i bought highe than i would have noremally bought today...

agreed, the luck or skill (whatever you define it) is getting out before the market turns against you... with that said (pending a catostrophic event) i thing the euro/dollar market has another 6-18 months before as significant correction....

goodnight... see you in 10 hours....

Alternatively, if you are hooked on 'shorting', get into some mid-small forestry positions and short the hell out of them.

Seems like the current moneymaking trend.

RvR.

I think you're wrong. Euro is losing ground steadily and USD is ready to turn around whenever emotion strikes it. A year ago I would have agreed.

Damn good days !

Let us know when you blow up your account :winkwink:

Good trading.

This is a warning for everyone reading this thread.

DO NOT trade on the FOREX unless you know what you are doing. It is honestly worse than gambling. People who are properly trained can easily lose everything. To be honest trade stocks compared to this. Much much less volatility on the stock market (on average).

Get in touch, I'm in stock trading for years but I'd love to get a better picture of the Forex world ;) ICQ: 28114920

If you are interested in Forex go buy a book on it or do some research online. Not trying to be an ass but the guy knows nothing about Forex other than the basic trading ideas. Without any type of strategy you will get screwed especially in leveraged accounts.

Good stuff. You better hope Chairman Ben Bernanke and The Fed continue to cut rates come December. If they don't, the dollar will rebound big in the short term. Long term is anyones guess.

i lost today 2k:((

i bookmarked this thread, looks interesting

Wait until you drop $900 and than hold waiting for the turn around, than drop 3k and realise you really can't afford to loose that much and hold even longer. In Forex people almost always take the profits much faster than they are willing to accept their losses. I know alot of smart people who have spent years trying to make money on forex and struggled. At the end of the day factors beyond your study contribute more than anything, the market is run by the big banks, etc and there is nothing you can really do about it. It's a gamble, no matter how much you think you know.

Forex is gambling...

The only people doing money with forex are those with a PHD in Mathematics and economics and 10 more years of experience in the market...

Of course you can do some bucks in one day with luck.. but if you do it every day during one month, you will finish with big losses at the end of the month. I can bet you whatever you want.

Just my two cents. And I know what I am talking about.

It is funny to see some lazy webmasters, that think they will find the holy grail by reading one thread. lol...

Congrats dude

Nothing wrong with a good forex strategy that never puts more then 10% of your holdings at risk, and having a stop placed on every trade against big losses. It is a strategy that even people like WARREN BUFFET have used over the last 3 years to make good returns. And the Oracle knows his stuff

Can some one show me how to actually sell short?

I have read about it over and over and I get the idea but I am not sure where in the FOREX trading software I am supposed to actually plug the numbers and which choices in the menus to use to get from A to B...

10% of your account on one single trade in the forex market with 1:200 leverage is suicide. It'll never work, even if you have a winning strategy. Pipe dreams man, either quit while you're ahead or reduce your leverage to something reasonable like 1:5 or less... You don't even have a hedge in place.
I'm not trying to slam you or anything, I wish you the best of luck, but the odds are stacked up against you. Bet small and live to trade another day.

For those of you considering opening a forex account, the best thing to do is play on a demo account for at least 2 years.

interesting opinions in this thread

OK. I have to admit I fucked up. I tried to let me cockiness of currrent gains affect my trading strategy.

As of 11/17/2007 i am short on the Euro at $2195 in at $776 loss. Normally, I would cost average down, which I just did in the last 24 hours (a;though I said I wouldn't).

I expect to make up my losses by the end of next week.

I just wanted to be honest in terms of loses versus gains...

So, I was up over 3 days at $2780 and now since the loss I am at $2003.89 profit. I have not liquidated my position yet and actually increased my position to $300,000 at 200 to 1... So, I will update you at the end of next week as to where I am.,.

Now, In regards to some of the people I chatted with and some of the comments here, yes, FOREX is like gambling... It can be very risky, especially if you don't know what you are doing..

However, if you believe (like i do) that the dollar will continue to decline against the Euro, in my book it's easy money...

I will keep you posted,.....

btw, if the Euro hits $1.48 to $1.50 next week i will make silly bank....

If the Euro hits $1.47 next week I will double my position to $600,000 at 200/1....

At this point I can only hope you are board whoring to make yourself feel smart.

Despite what your mother told you, believing in something cannot ever make it come true.

Doubling positions to recoup losses works every time except once.. the last.

ESPECIALLY with shorting small valued things like currency. You can lose your shirt 5x over before you even realize it's gone.

Funny thread :1orglaugh

Dude, no offense, but go play with demo account for at least 6 months. You know almost nothing about forex trading, yet, you have such an overconfidence and disrespect to the market. Yeah your "strategy" might work for a few days or weeks, but I *know* that if you continue like this, you can wave your $10,000 (or whatever is there on your account) goodbye within weeks.

I'm not trying to put you down, take it as a serious advice - stop it right now, withdraw all your money (or let them sit there) and start learning to trade smart and safe on a demo account.

BTW, if you REALLY want to learn it, get to studying all the indicators there (besides the basic moving averages etc., I recommend taking a look at TSI), and also get a money management strategy.

If you're not willing to spend at least a few hours per day just learning and watching the graphs without trading for real, just give up and withdraw the money because this is not for you.

very well said sttboss.
without knowing the market and how it behaves on a certain currency pair all gains are just like gambling wins and will not last long.

I'm with this fella. I can smell the dollar climbing back up again with big gains in a short period of time.

On a side note, have anyone tried trading with gold here, the price is quite insane now when the dollar has tanked. Almost at $800! :)

This thread reminded me to look up my oanda play account details. I used to fiddle around with keeping a trade active for only a short period (usually less than a couple of minutes) and managed to "make" a little. It's a lot of work though, and a couple of times I ended up with my account -ve (ie, all capital AND profits wiped out)

This is a game... I wouldn't do it with real money.

oanda ---> http://fxgame.oanda.com/

Opening positions for longer time = less work and usually more money :winkwink:

Anyone else banking on gold here?

How's your forex trading going, the dollar is really shitty again.. really really shitty. :thumbsup

so marketsmart, are you still in forex?

I am! :thumbsup

how is today ?:2 cents:

today is a pretty ranging day. not so much happening. my account is up +0.12% and im happy with that for today. and still about 5 good hours to go.