Anyone here into FOREX?

[nhallmark]

yeah, Im drooling to hear more about this currenex you speak of

I assume your trying out the different brokers you mentioned? Is there any difference so far?(from one broker to the next)

I was reading on currenex's website and supposedly the white label version is java based and it runs through your browser...so, you already know the question ...does it work on a mac?

I was trying to research it, but no luck...however, I did find something talking about how currenex switched all their operations from solaris to ubuntu...so Im wondering if the real currenex(not white label) runs on linux? ...that would be a compromise at least.

I would rather run linux than windows anyday

...or I could just accept that it's a windows world and stop hoping and just use windows

 

[~Shard~]

Just closed my short AUDUSD position. My 89 and 200 SMA MACD crossover worked perfectly and I just got out at the 365 SMA @ 8147 which should prove to be a logical point of support. And even if it blows through that, well, I made my money so I'm happy - hindsight is always 20/20. Mind you, if it does blow through that level, look out below! Hmm, but then RSI would be extremely oversold... so who knows...

Anyway, not too bad for an hour-and-a-half's worth of work!

 

[Music_Producer]

Shard, by pricing feeds I mean.. if you want to make volume purchases.. for e.g. 10 million units - for hedging, and not trading news, etc.. then you can submit an offer, and then the platform gives you something like 250 seconds to wait for an acceptance of that offer from multiple banks (for the best price)

It's cool to see all the major banks on that platform though.. you feel like small fish That's why they don't re-quote you.. because your 1 m trade is negligible compared to all the billion $ trades going on!

Nathan, i tried out the demo from pfgforex, yes different brokers will probably offer different spreads, or minimum deposits but it seems like they are mostly similar. Yes, I tried loading it on the mac.. it installed fine, but there was trouble opening the platform Eventually i just ran it on parallels, the good thing is that there is no software to download, it's all Java based.

Watch out for aussie interest rate decision tomorrow.. markets expect no change in rate.. but there is talk of a rate hike.. so if that happens.. aussie $ could go up (not by much though, because this expectation has kinda been priced in already)

 

[~Shard~]

Thanks for the clarification. And yes, I'll definitely be watching the AUD decision tomorrow after work...

 

[OceanView]

I was thinking about buying some real estate in Las Vegas since they are phsyically running out of land and they are the fastest growing city in North America. Bad timing?

In general, interest rates going up means mortgage payments going up (in some cases depending on your plan) and/or people not being to afford mortgages as easily, right? Well, if you can afford the payments regardless and can write off all that interest on your taxes anyway, is it that big a deal? Just curious.

Just saw these posts on Vegas and had to make a few comments as I do have a some knowledge there.

Vegas is pretty much at the bottom of the housing market as I see it. Many of the home buyers of the past were speculators that wanted to cash in on the rising housing prices. They just were not fast enough to get out in time. As a result many of the homes have dropped in value by 10-15% since the highs of last year. Many of the home builders are offering incentives.
From what I have seen, the market is not as bad as in Florida but comparable to Arizona.

MP stated that there are lots of land on the drive into Vegas, yes there is but and this is a big but, all that land is owned by the BLM (Federal Government). There is a State law called Burton-Santini act that will only allow a very small percentage (I think it was 3%-5%) release of federal land per year. This is to maintain market pricing. So all that land will not be released for a long time. That is why the home builders were buying every parcel they could get a hold of and land bank for future housing sites.

The future will depend on what the Feds do with the interest rates. Vegas is the fastest growing city in the US so there has to be a place for people to stay. Water is also a big concern for Vegas but that's another story.

 

[OceanView]

SO for Currenex there are 2 types of accounts? White and other?
And the minimum to open is $50K and $25K ?

 

[~Shard~]

Just saw these posts on Vegas and had to make a few comments as I do have a some knowledge there.

Vegas is pretty much at the bottom of the housing market as I see it. Many of the home buyers of the past were speculators that wanted to cash in on the rising housing prices. They just were not fast enough to get out in time. As a result many of the homes have dropped in value by 10-15% since the highs of last year. Many of the home builders are offering incentives.
From what I have seen, the market is not as bad as in Florida but comparable to Arizona.

MP stated that there are lots of land on the drive into Vegas, yes there is but and this is a big but, all that land is owned by the BLM (Federal Government). There is a State law called Burton-Santini act that will only allow a very small percentage (I think it was 3%-5%) release of federal land per year. This is to maintain market pricing. So all that land will not be released for a long time. That is why the home builders were buying every parcel they could get a hold of and land bank for future housing sites.

The future will depend on what the Feds do with the interest rates. Vegas is the fastest growing city in the US so there has to be a place for people to stay. Water is also a big concern for Vegas but that's another story.

Thanks for your comments OceanView, I appreciate it. Saying that Vegas is at the bottom of the housing market is more in line with my initial thoughts, in terms of there being some opportunities there to possibly take advantage of some good deals due to falling prices. Still sounds like it’s not the healthiest market though...

As for the land, yes, I commented on it above as well in one of my replies. Land is in short supply there for such a fast-growing city!

Interest rates will no doubt have a huge impact – I’ll have to watch for that. As for the water, I’ve heard all sorts of stories. They range from Vegas running out of water by 2020 and needing to call on Colorado (or wherever) for support, to statements saying that Vegas has already run out of water. Yes, this is obviously a concern, but realistically, the US is not going to let an American city (let alone a city like Vegas!) run out of water and do nothing about it.

 

[Music_Producer]

30 pips on the AUD interest rate decision.. rates stayed the same, and aud/usd dropped (since it had already risen up so much since the last week) Excellent trade

 

[nhallmark]

damn!!!! I just made half my account on the no hike

It gapped down on CMC and I somehow got in before the gap...I am so f*cking happy!!!

Edit: It was 43 pips that I made but I had my leverage maxed out!!

 

[Music_Producer]

damn!!!! I just made half my account on the no hike

It gapped down on CMC and I somehow got in before the gap...I am so f*cking happy!!!

Edit: It was 43 pips that I made but I had my leverage maxed out!!

Sweet!! So where should we go party? Now ,imagine if we traded on a currenex account with 10 m units.

 

[OceanView]

damn!!!! I just made half my account on the no hike

It gapped down on CMC and I somehow got in before the gap...I am so f*cking happy!!!

Edit: It was 43 pips that I made but I had my leverage maxed out!!

Good for you Nathan!!!
You must be stoked!

 

[OceanView]

Sweet!! So where should we go party? Now ,imagine if we traded on a currenex account with 10 m units.

How do you like the Currenex account so far?
Is it that much better now that your in the big leagues?
By the way, can you see the chart moving before Trade the news announces ?
What is the shortest interval by the way? 1 sec?

I made 15 pips. Got out too early.

 

[nhallmark]

Sweet!! So where should we go party? Now ,imagine if we traded on a currenex account with 10 m units.

lol...hmm, 10m units would equal, let's see...$43k in 30 seconds. Im in

About currenex, what's the leverage they give you? Im sure its different for each broker, but what is it with the broker your using?

Oh and good job, OceanView! ...you'll get used to it the more you trade. When I was starting out back in december, I would make 4 pips here and 7 pips there while MP was making 25-30.

...and my first interest rate anouncement(UK in january), I only made 9 pips(on a 120 pip move). So just keep doing it...15 pips is still damn good!

 

[Music_Producer]

lol...hmm, 10m units would equal, let's see...$43k in 30 seconds. Im in

About currenex, what's the leverage they give you? Im sure its different for each broker, but what is it with the broker your using?

Oh and good job, OceanView! ...you'll get used to it the more you trade. When I was starting out back in december, I would make 4 pips here and 7 pips there while MP was making 25-30.

...and my first interest rate anouncement(UK in january), I only made 9 pips(on a 120 pip move). So just keep doing it...15 pips is still damn good!

Yeah, now nathan beats me.. he makes 25 pips while I make 7 pips Yeah Ocean.. 15 pips is very good.. considering there was probably a spread on Oanda's platform.

Regarding leverage.. i didn't see that mentioned anywhere but i think its probably 100:1. I'll ask them and let you know. Also, I never use the charts, but i'll open them up and check what kind of intervals they offer.

Check this keyboard that Currenex offers on requests -



Oddly enough though, there isn't one click execution using this keyboard.. you have to hit the 'submit' key after hitting buy or sell. This is to prevent any accidental trade execution (yeah, like i'm gonna hit buy or sell accidentally!) There must be a way to circumvent this though.

 

[OceanView]

Someday I want to be like you guys making the big bucks!
I'm still on a demo account so I am not sure if I can make money trading the news. Hopefully I will have enough to open a Currenex account someday and trade in the big league and trade for real.

The keypad would be useful if you used both hands, maybe you could use it in conjunction with the on screen program (just guessing here).

 

[nhallmark]

No trade on UK Services PMI.

Im worried that Im going to start getting more requotes now, after yesterday because just now my response time was bouncing between 300-900ms.

It hasnt been that bad for a few days...its funny how the platform mysteriously runs slower when you make money. Wait, let me guess...its because my PC just can't handle all the cash

Hopefully it will be managable until I can get currenex. Music_Producer, not to be rude, but what's the biggest lot size you traded at CMC without a requote?

Just wondering because Im hoping I can get my CMC account to at least 10k before going with currenex.

 

[OceanView]

Made 5 pips on the ADP non farm employment.
OandA was charging 15 pips!

 

[nhallmark]

Good job, OceanView!

I personally didn't trade it because I didn't think it was that big of a deviation. Did you trade EUR/USD or GBP/USD?

 

[nhallmark]

Hey, Music_Producer, don't go to sleep yet....Apple just released the 8 core Mac Pro!!!

Damn, I just need a few more interest rate decisions and I'll have enough..lol

 

[OceanView]

WooHoo!!
I made 2 pips on the USD non Manufaturing Index!!! LOL

Got in late and rode it out till I got positive.

 

[OceanView]

Hey, Music_Producer, don't go to sleep yet....Apple just released the 8 core Mac Pro!!!

Damn, I just need a few more interest rate decisions and I'll have enough..lol

Really?!
Wow!, I guess I am not gonna buy that Dell I was about to pull the trigger on.

I traded the GBP/USB by the way.

 

[nhallmark]

Really?!
Wow!, I guess I am not gonna buy that Dell I was about to pull the trigger on.

I traded the GBP/USB by the way.

You sure it wasn't the GBP/Firewire..lol(GBP/USB...get it? haha, ok im a dork )

I was asking because it seems like GBP/USD hasnt been producing good moves like it used to and I was wondering if EUR/USD was any better because I haven't been watching it.

Why were you going to buy a dell? for trading? I would just get an intel mac and run parallels or boot camp...that way you get a new mac and you're not forced to sit through the torture of looking at that dell logo all day like I am

 

[OceanView]

You sure it wasn't the GBP/Firewire..lol(GBP/USB...get it? haha, ok im a dork )

I was asking because it seems like GBP/USD hasnt been producing good moves like it used to and I was wondering if EUR/USD was any better because I haven't been watching it.

Why were you going to buy a dell? for trading? I would just get an intel mac and run parallels or boot camp...that way you get a new mac and you're not forced to sit through the torture of looking at that dell logo all day like I am

Yes the GBP/USD has not been as active but I guess I have been getting lucky.

I was thinking about a Dell because I was able to get a good deal on a new C2D 2.13Ghz desktop with a 24" monitor for around $1600 including shipping and tax.
My HP desktop is about 5 years old and I wanted something a bit faster for trading. I am also considering buying a MacBookPro 2.13GHZ and using it at home and work running Vista on Bootcamp 1.2.
I can only get one of these at this time and maybe the other later this year.

Do you have any advice?

EDIT: The Dell deal is over now, I guess everybody used the code so the the price is back up to $1925 including tax and shipping. MBP looks more interesting....

 

[OceanView]

Looking at tomorrow's trades, it looks like there will be 3 important announcements at the same time. The CAD Employment Change, CAD Unemployment rate and the GBP Interest rate statement.
Which is the more important trade here? I am thinking the interest rate is but if the rate is unchanged as expected, it may not move as much as the CAD?

 

[~Shard~]

WooHoo!!
I made 2 pips on the USD non Manufaturing Index!!! LOL

Got in late and rode it out till I got positive.

Great job, but just a word of constructive criticism for you. If a trade ever goes bad, or you end up "missing the boat", you have to be able to realize it might be in your best interests just to take a loss as opposed to "riding things out". Many people have a psychological barrier whereby they feel they must always at least break even, but the markets don't know that and they don't care. If you ever guess wrong, get in late, etc. be mindful and open to the idea that you may need to take a loss to prevent a larger loss down the road. If you are trading the news, then trade the news - get in, get out - don't trade the movement afterwards, hoping it will go in one direction or another because then you are not trading the news, you're trading on speculation and might as well put your money on RED at the roulette table simply because BLACK has hit the past 4 spins. have a plan and stick to it. Forex trading takes a lot of discipline.

Not trying to be hard on you, just offering some advice to be of help to you.

Looking at tomorrow's trades, it looks like there will be 3 important announcements at the same time. The CAD Employment Change, CAD Unemployment rate and the GBP Interest rate statement.
Which is the more important trade here? I am thinking the interest rate is but if the rate is unchanged as expected, it may not move as much as the CAD?

Interest rate decisions are always the most important and can trigger the biggest moves. I personally don't think much will happen but you should be ready to trade in case there is a surprise. Otherwise, yes, the Canadian data is important as well so keep your eye on it. I would not recommend trying to trade both announcements though at the same time. Unless of course the CAD data is horrible and the BoE decides to hike rates by 50 bps - then I might consider buying some GBPCAD...