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Anyone here into FOREX?

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Music_Producer said:
Yeah.. it should go back to 2.00 but it might take its own sweet time. I honestly think it should test the 1.9950 level. There's probably a lot of profit taking going on as well. I had quite a temptation to jump in at 1.9912 and buy.. but then that stresses me out (the waiting part) and then I wouldn't get sleep lol.
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lol...yeah I hate the waiting part, but I took the plunge...Im in at 1.9912 with a smaller position.

Im about to take my girlfriend to the airport so I'll check it when I get back and I set a stop loss(obviously :p ) so, worst case scenario, I will break even for the day.

I'll let you know how it goes.
 
Mp,

Yes the MPC are always surprising the mkts. Thats why trading UK annoucements has been the best this year, as they are in interest-rate mode. Mkts pricing in a July hike, so if they hold the £ will sell off again.

I am impressed with Capforex tight spreads. What commission do they charge per round turn? I am in the UK, so you are right it will be quicker to set-up i think.
 
Hi guys! I've been very busy lately, not much time for trading. :( Anyway, needed sleep desperately so I didn't trade the UK data this morning but I did trade the Canadian data and made a decent 9 pips on a $200K lot. Not too shabby! :)

I haven't had any time to look into things any further Music_Producer but will try to find some time soon. I'll chat with my wife about it too. Will keep you posted... :cool:
 
15 pips on USD/CAD trade.. I was really slow on this one (I hate it because it's usd/cad.. so you enter the opposite trade related to the news i.e. good news for cad.. and you sell usd/cad and vice versa) Good trade nevertheless :)
 
+25 pips on the CAD retail sale ex Autos.

Oanda gave me a brilliant fill today, out at the top of the spike, watched the retrace, back in at the bottom and out again for another +10.

Text book day. Doesn't happen often.

Music Producer, looks like Felix (who nHallmark and I trade with) may be switching to Currenex too... He's sick of the market makers. How's it been after a few weeks?
 
Good job guys!

I didn't even get in. I was too tired, I guess...SNW gave a buy but I forgot to set up the auto clicker and I sat there like "uh, why didnt it click the button?" :p instead of realizing it and clicking myself while I still had time. :rolleyes:
 
Hey nathan.. gbp/usd went near 2.00 today :p I told you.. that it's gonna go.. but it'll take its time. Stupid aud/jpy.. goes up 100 pips every few days :mad: Man if that thing falls, it's gonna fall pretty hard.

Remember to short the hell out of GBP/JPY if carry trades start a shock unwinding.. it may be this year, or next year.. or whenever.. the later, the better.. since the more pips we can make out of the short.

Right now getting into a carry trade is way too risky. I personally think aud/jpy should hit 110 (that's another 500 pips more) but.. too risky to get into it. Global interest rates are going up (except Japan's) so I believe carry trades should be strong for 2007 for sure. Again, who knows.. it's better to be safe than sorry.

Stu.. Currenex is simply a platform as I mentioned earlier. My broker. capital forex is good so far.. if they start playing tricks.. I'll let you guys know. FXCM has a currenex platform too.. but FXCM sucks.. big time. Imagine Oanda offering a currenex platform and then inflating the spread to 20-30 pips.. anyone can offer the Currenex platform, it really depends on the broker.
 
Hey guys,

Looks like lots of new people have joined in.
I have been too busy trying out a new strategy.

Reading all you carry trade ideas, I came up with something.
What if you were to use a strategy that includes carry trades with small limits and no stops? Yes, I said no stops. Use large lot sizes and 5 to 10 pip limits. This will get you out with small profits. The key of course is to get in when the market is on the low end and wait for it to reach your limit.
There are of course some rules that will be used to time the entry points.
Downside is, you get in and the market changes. You get stuck in a trade for a long time.

I have been using this idea on a demo account and have made a large amount in 2 weeks.

Let me know what you think guys.
 
15 pips on US Durable orders reports.. finally something worth trading after a dull period.

Ocean.. with small limits.. you will make profits.. but when the currencies go up.. you'll just keep waiting for dips to occur. When these dips do occur.. they're pretty much in a range from 300-2000 pips. So yes, you might get stuck during that time, but you will be making interest.

All Yen pairs are currently down.. am not sure if this is an overall carry unwinding but it doesn't look like it so far.
 
Britguy said:
How did you make 15pips MP, on GBP/USD it never moved that much.
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What platform are you using? I got in at 1.9975 and out at 1.9990.. it then dropped to 1.9985 (although it did hit 1.9996 for a moment) I was in and out, in not more than a second, or a second and a half.

You might be looking at the spread, my spread was a pip :D
 
I looked at the graphs on cmc marketmaker software. You could of bought at 79 (ask) and sold at 89 (bid). That was the range at announcement time. Your fills are amazing.
 
Britguy said:
I looked at the graphs on cmc marketmaker software. You could of bought at 79 (ask) and sold at 89 (bid). That was the range at announcement time. Your fills are amazing.
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You're using CMC too? :p There was a trade once, I remember.. when I saw AUD/USD drop by 30 pips or so.. I had already hit the 'Sell' button. However, CMC conveniently dropped the price by only 8 pips. It then held there for a few seconds.. confusing the hell out of me. So I got out.. and then it dropped another 20 pips :rolleyes:

That only happened once, but it was obviously.. a very strange thing. Read some forex forums and you'll find that this happens quite a bit with a few brokers. Profits being limited.. or stops being blown (stop hunting) by strange 'spikes' etc.. the list goes on. It's a bloody unregulated market and that's why all the brokers can mess with us as much as they want!
 
Well done Music_Producer! I on the other hand got a requote from CMC this morning. :mad: Would have been a nice trade but I guess I acted too fast for them... :rolleyes:
 
Yeah, I'm extremely busy right now (not even much time for trading!) but when I get more time I think I will seriously look into alternate platforms, i.e. a Currenex account. For now though, I'll continue to have "fun" with CMC. I'll just treat it as a game. ;) :cool:
 
I got another requote on NZD Current Account and I know its BS because the move was extremely slow...F$^%& CMC :mad:
 
Music_Producer said:
I wasn't home to trade this one, and yeah.. just checked the charts.. was a nice slow move. Time to move out of cmc bro..
Click to expand...

Yeah, I would have already moved but Im $8k short of the minimum so hopefully CMC will let me through a few more times so I can make the rest.
 
Hey Music_Producer, I know you mentioned awhile back that MB has improved...and based on what I've read from felix, etc. I might go with them until I can meet the minimums for dukas/currenex.

How long does it take to get your money in and out of MB? (I dont want to miss any trades)

Somethings up with CMC IMO because, when you click it feels like someone is literally sitting there deciding whether to let you in or not...I dont know if thats the case but the requotes "feel" different now, if that makes any sense.
 
CMC pissed me off again this morning. Tried trading the initial US data and when I clicked the order just stalled, and got filled a few seconds later! Luckily I was able to still get a profit out of the deal, but come on! :mad: Requotes coupled with delayed order execution - not impressed... :rolleyes:

So, $50K USD minimum for a Currenex account? And is that just the broker then? You still need to use a separate trading platform with it, or how does that work? Apologies, I'm sure it's been answered before but this thread is so dang long now... :eek: ;)

What all else do I need to do to sign up? Minimum $1M lot sizes and any trading activity requirements (e.g. 10 trades a month)? And 1 pip spreads on some pairs?! Can I get an account being that I'm in Canada?

Let me know and I might just have to open an account... I'll check their website too...
 
~Shard~ said:
CMC pissed me off again this morning. Tried trading the initial US data and when I clicked the order just stalled, and got filled a few seconds later! Luckily I was able to still get a profit out of the deal, but come on! :mad: Requotes coupled with delayed order execution - not impressed... :rolleyes:

So, $50K USD minimum for a Currenex account? And is that just the broker then? You still need to use a separate trading platform with it, or how does that work? Apologies, I'm sure it's been answered before but this thread is so dang long now... :eek: ;)

What all else do I need to do to sign up? Minimum $1M lot sizes and any trading activity requirements (e.g. 10 trades a month)? And 1 pip spreads on some pairs?! Can I get an account being that I'm in Canada?

Let me know and I might just have to open an account... I'll check their website too...
Click to expand...

That sucks to hear that theyre doing it to you also, Shard...although Im glad its not just me.

Im pretty sure Capital Forex is based in Russia(they were bought by a russian company) which could be scary but supposedly its all legit...so I dont think you would have a problem coming from canada.

Also, I think you just download their currenex platform like an MT4 broker has the MT4 platform specialized for their feeds, etc.

Of course, MP knows the answer...but that seems like how it would go.
 
nhallmark said:
That sucks to hear that theyre doing it to you also, Shard...although Im glad its not just me.
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Yeah, I guess the three of us are all "too good" for them... ;)

nhallmark said:
Im pretty sure Capital Forex is based in Russia(they were bought by a russian company) which could be scary but supposedly its all legit...so I dont think you would have a problem coming from canada.
Click to expand...

Hmm, I'd need to investigate that then. DOn't like sending large amounts of money overseas... :eek:

nhallmark said:
Also, I think you just download their currenex platform like an MT4 broker has the MT4 platform specialized for their feeds, etc.
Click to expand...

This is the point I was curious about and would like clarification on. As I said, I'll do some hunting on the web as well... Thanks. :cool:
 
NZ was a no - trade.. this whole week has been painfully boring - luckily there is all this iphone buzz going on to keep me sane.

Shard, trade smaller lots.. just to be on the safer side. They can easily 'hold' your trade for a couple of seconds, and then let it go when they are in a profitable situation. This can happen when the report doesn't deviate significantly.. and the price only moves 6-10 pips and then retraces. Which is again.. why I only trade if the reports deviate quite a bit.. so there's a move of 30-40 pips.. and it stays there.

It's better not to trade, then jump in a small deviation report trade.. because you will literally lose your money.

Nathan, I know what you mean by the different 'feel' to the re-quotes. I used to get them all the time. I bloody wished they had an IM window where I could chat with the f@cker holding my trade lol.

Send them an email.. if they're playing around with you.. tell them you will complain to the NFA or you will close your account. See what they say.. if they give you a generic answer (something like requotes occur during fast moving markets, etc) then you know they're going to keep doing the same thing.

Also, try trading smaller lots.. temporarily.. to see if those go through.

Shard.. the broker offers currenex as the platform. $50 k is the minimum to open.. and $1 m is minimum trading lot.. but it could differ.

Nathan.. are you talking about capital forex or capital forex pro? I am with capital forex pro.. they're based in london (part of london capital group) and registered with the FSA (Financial Services Authority) I'm not at all sure if they are based in Russia.. I don't think so. Btw, I', not talking about www.capforex.com.. I'm talking about www.capitalforex.com.
 
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