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Anyone here into FOREX?

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PiP Dictator, Im still interested in that scalping system if youre still willing to share it.

That vanessaFX system kicks ass. Im looking at it on the charts and had I been trading it, I would be up 1200 pips in the last two weeks alone :eek:

So, a comet would have to blow up the earth for me to miss the next signal on that :p

Thanks for sharing this, PiP Dictator.

P.S. Did you guys trade US Consumer Confidence? I just watched it but it looked like a good 20-30 pip move.
 
24 pips on the UK manufacturing PMI report. Was an easy trade as well.. as for signal service.. please don't waste your money on any signal providers out there. If that's the only way you want to do forex.. you might as well just throw your money away right now.

There's tons of information in these threads.. technical and news related.. see what works for you.
 
made 14 pips. now that Im getting fast enough on my entries, ive got to work on my exits so I can get out before the retrace. Anyway, Im happy :D
 
Hey, Music_Producer, I know this is off topic but Im thinking about getting a keyboard setup soon. Im deciding between the korg triton "studio" or "extreme", a yamaha motif, or a roland x8.

Ill probably get one as a keyboard and the others in rack units, but whats your opinion about any of those?
 
Hey nathan, good job :) How's your technical system coming along? I tried it on my oanda demo and i saw a buying opportunity.. and bought gbp/usd.. and the bloody thing went in a loss of -32 pips almost within 5 minutes.. lol. So I think my luck with technicals can pretty much bring any system to its knees! :p

I love the Yamaha motif.. excellent sounds. All those modules have great sounds.. but somehow, in a mix.. the motif just 'fits' better. I'm myself busy on a vintage synth hunt.. not too old.. but stuff from the 80s. Roland jd-800, yamaha dx-7, e-mu synths, etc. Miss those sounds :)
 
Music_Producer said:
Hey nathan, good job :) How's your technical system coming along? I tried it on my oanda demo and i saw a buying opportunity.. and bought gbp/usd.. and the bloody thing went in a loss of -32 pips almost within 5 minutes.. lol. So I think my luck with technicals can pretty much bring any system to its knees! :p
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lol...yeah, I lost 8 pips yesterday because I got scared and closed to soon. Then, it turned around and went in my direction by 60 pips :p I should have followed the system and held on until it hit my stop loss..which it never did.

So, lesson learned. I made 10 pips today on it, though. So, with the news, Im up 24 pips for the day.

About your "experience" with technicals...Im reading this book called "the winning investment habits of warren buffet and george soros" and its pretty much saying "hey, these two guys have almost opposite strategies, but their both successful, so find what works for you".

My point being that maybe news is just your thing. I actually like news trading more because my stomach isnt in knots when I have to go to the store and I have a trade open :p But, Im new to forex trading in general, so Im trying to figure out what suits me best.

I think the only way I'll be able to not have a heart attack with technicals is by having two accounts. One for news, and another with a smaller amount just for technicals and if I really make money at it, Ill keep going and if I lose that whole account, Ill just treat it like gambling and I lost...but it was a small amount so it doesnt matter.



Music_Producer said:
I love the Yamaha motif.. excellent sounds. All those modules have great sounds.. but somehow, in a mix.. the motif just 'fits' better. I'm myself busy on a vintage synth hunt.. not too old.. but stuff from the 80s. Roland jd-800, yamaha dx-7, e-mu synths, etc. Miss those sounds :)
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Yeah, from playing the motif at guiter center, it has the most usable sounds IMO. Ive also looked at some vintage stuff, but I dont know whats good and whats not.

What do you do for drum sounds? Right now, Im using "Reason Adapted" that came free with my mbox, but I bought a refill at guitar center and it only works on the full version of reason. So, Ive got a 5000 sample CD sitting here that I cant use :mad:

So, I guess what Im asking is, for drums, do you get sample CDs or buy drum modules(e.g. alesis DM 5) or do you use keyboards? ...or something else. Im trying to go for NIN/Bjork type drum sounds with a little timbaland thrown in...just for the drums.
 
I only use samples for drums.. I have never used drum machines.. never liked them really. Drums (and bass) are very important to any song's foundation.. so I like to have thousands of kicks, snares, hats, etc at my disposal. Thats only possible with a software sampler and a drum sample library.

Doesn't reason adapted come with ReDrum? You should be able to use those samples from the refill with that (if it comes with redrum)

I use Reason as a basic sequencer/scratch pad for ideas, or basic song structures. Once I get a rough mix done.. I open up digital performer and use reason for the drums.. mach five for other samples and my other hardware synths. I haven't been dabbling in music much these days.. always use 'I need to buy new gear!' as an excuse to make music :p :D

Also, make your own drum samples. Thats what I did when i first started looking at samplers. For instance.. if I loved the kick on Robert Miles' 'Children' track.. I would search for a part in the song where the kick would be fairly isolated.. and sample that :p Sounded fantastic.. and when I was an amateur it really put that 'wow' factor into my little cheap demos!
 
Got the dreaded re-quote again.. but the move wasn't that big.. would have probably bagged only 6-7 pips. Weird.. ISM next.
 
I didnt trade ISM. The construction spending # caught me off gaurd...I missed at least 20 pips :mad:

Oh well, Im sure Ill live to trade another day.

Reason adapted does coem with redrum but I spent hours moving the refill file to different folders trying to get it to work and there was nothing in the manual and I finally found in the license agreement that "reason adapted for digidesign is limited to the reason factory soundbank only".

...so Ill upgrade when I get some money.

I haven't been dabbling in music much these days.. always use 'I need to buy new gear!' as an excuse to make music
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lol, yeah, I use that excuse a lot too. My goal is to move to LA by july though, so I can really start doing something with it because dallas is dead.
 
Made 9 pips on AUD retail sales :) I was lucky enough to get out at the top...I think it only moved about 10 pips.
 
nhallmark said:
Made 9 pips on AUD retail sales :) I was lucky enough to get out at the top...I think it only moved about 10 pips.
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Me too, grabbed 9 pips. The move was muted because of the current account which came out worse than expected.. so it kind of cancelled out the better than forecast retail sales report.

Edit : Tomorrow I'm only trading the canadian gdp report.. hopefully it should be a nice report because there are no other reports coming out at the same time. I want a 50+ pip move :)
 
How much does CAD GDP have to deviate by for you to trade it? Im asking because Ive watched several CAD reports and Ive stopped lately because they rarely move.

So, for example, its supposed to be 0.3%. If it came out to 0.4%, I normally wouldnt trade that because the deviation is barely there. What's your experience with that?
 
I would look for a +0.3-0.3% deviation.. a +0.1% wouldn't do much.. but then again there are no other reports at that time.. so who knows. It could have more impact. Here's hoping for a solid deviation (5% lol)
 
Hopefully it will deviate that much and we can end the week good, since thats the only trade today.

I made 45 pips on GBP/JPY with that vanessaFX system. I closed when it hit a support line, then took a 20 mintue break. When I came back, it had dropped another 65 pips. I made enough though, so Im happy. GBP/JPY is insane. Its dropped 900 pips this week alone.

Edit: Now its dropped another 50 pips, so thats 1000 pips this week :eek:
 
...didnt trade. It only moved 10-15 pips anyway.

Edit: I just added it up and I made 97 pips this week :D
 
Didn't trade either.. just a 0.1% deviation.

All JPY pairs are screwed for now because of what the IMF chief warned about.. the carry trades.. .basically putting fear in all the carry traders. You could have made those 1000 pips had you checked the news .. I made 500 on an AUD/JPY short.. but unfortunately, it was a small lot. Had I put in my normal sized lot.. sheesh I'd be off to Fiji right now :p

Will jpy pairs come back? Yeah, but it might take a while.. it certainly doesn't help jpy pairs if all the financial bigwigs keep warning about the carry trade 24/7.


If the BOJ chief says something like there is a risk of deflation and that interest rates will not be raised or might be reduced.. geez.. look at all jpy pairs to shoot up 2000 pips.
 
What did the IMF guy say? I remember hearing about it but I didnt pay attention because a lot of times the fed guy or whoever will say something and nothing happens.

Ive watched during speeches and he will say something and there goes GBP/USD down 50 pips and I dont really get the significance of it until afterwards...Ive still got a lot to learn.
 
Nathan, he basically warned about the risks of the carry trade.. about the yen appreciating in value.. thats all. Speeches move markets like crazy.. I didn't think the jpy pairs would drop so much based on the IMF guy's speech.
 
nhallmark said:

That vanessaFX system kicks ass. Im looking at it on the charts and had I been trading it, I would be up 1200 pips in the last two weeks alone :eek:

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Is that the PDF download? If that is the one, it confused the hell out of me. I think there was too much info left out for a newbie to grasp. Which one have you been using, 30 minute? 4 hour?
 
For those of you using the VanessaFX system, can I ask where you found a broker that offers charting with the Awesome Oscillator indicator, that is also Mac-compatible? I haven't been able to find any, so any suggestions would be much appreciated.

I don't have an Intel Mac, so I can't run Parallels... Thanks in advance!
 
Music_Producer said:
Nathan, he basically warned about the risks of the carry trade.. about the yen appreciating in value.. thats all. Speeches move markets like crazy.. I didn't think the jpy pairs would drop so much based on the IMF guy's speech.
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I guess I need to start really watching the speeches and watch what happens so I can analyze why the market reacts to what I would think is a trivial comment.

After japan hiked rates and the JPY pairs went up, I thought we would be back to 241 on GBP/JPY this week, but were sitting around 227...guess I was wrong.

Thats cool though that the vanessaFX system gave the signal to short at the start of the week, but there was a news reason also(and there usually is, its just hard to find, sometimes).

That gives me more confidence in a trade having more reasons than one to take it.

lagunacat said:
Is that the PDF download? If that is the one, it confused the hell out of me. I think there was too much info left out for a newbie to grasp. Which one have you been using, 30 minute? 4 hour?
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yeah, its the PDF download.

The one I was using this week was the 30 minute, but the one that gave the signal for the 1000 pip drop this week was the 4 hour/daily. But, like Music_Producer said, the news had a lot to do with it.

If youre confused by it, the forums on forexfactory have a lot of information on to understand all of it...but use your judgement because there's a lot of stuff out there thats bs.


justinf77 said:
For those of you using the VanessaFX system, can I ask where you found a broker that offers charting with the Awesome Oscillator indicator, that is also Mac-compatible? I haven't been able to find any, so any suggestions would be much appreciated.

I don't have an Intel Mac, so I can't run Parallels... Thanks in advance!
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Ive been using MetaTrader 4. Its a free download from their site, but yeah, it only runs on windows. I dont have an intel mac either(yet!) but luckily, Ive got a dell that I had before I knew about macs so I use that.

It sucks, but Im willing to deal with windows for money :p

You could look into crossover for mac. I dont know how stable that is because its still in beta, but it allows you to run windows apps without windows.

The only other option is to wait and hopefully more people will buy macs and then developers will start to get on board and well see some trading platforms for mac...but thats probably going to be awhile.
 
damn..GBP/JPY dropped another 400 pips on opening. I found a report on bloomberg that was summarizing what they said at G7 and what the IMF head said.

Ive also heard that its Japan's fiscal year end, so all the companies have to convert their foreign profits back to yen...which means purchasing yen...so thats another reason why its falling.

Are you guys trading UK Services PMI in the morning(3:30am central)?
 
Yup nathan.. trading the uk pmi report for sure. Right now jpy pairs seem to have stabilized.. again this is because of pending reports from the treasury finance minister (meeting the japanese finance minister) So the markets will move on the comments that come out of this report. The meeting is today and tomorrow.. if they say something like jpy is still undervalued.. you could see all jpy pairs drop 3-500 pips more.

The annoying this is that these are not really news reports.. but comments.. so they don't come out instantly on news platforms.. the markets move before these things come out.
 
nhallmark said:
damn..GBP/JPY dropped another 400 pips on opening. I found a report on bloomberg that was summarizing what they said at G7 and what the IMF head said.

Ive also heard that its Japan's fiscal year end, so all the companies have to convert their foreign profits back to yen...which means purchasing yen...so thats another reason why its falling.

Are you guys trading UK Services PMI in the morning(3:30am central)?
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I like that pair -- it's been moving very decisively this year. That's interesting that the fiscal year end makes companies convert their currency. Is that true of most economies? I suppose you could arbitrage profitably by purchasing at the right time.

Edit: Down 500+ now!
 
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