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Anyone here into FOREX?
- Thread starter Music_Producer
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Thanks, Britguy. I used their demo on a NZD report around the end of may(dont remember which one) and I got in fine although the spread was bouncing between 3-6. That's still better than a requote though 
I've already got my ID notarized and sent to them so that part is no problem.
I guess Im just going to see for myself because Im running out of options here.
I've already got my ID notarized and sent to them so that part is no problem.
I guess Im just going to see for myself because Im running out of options here.
18 pips on the US ISM report.. I didn't trade the UK and Eur interest rate decisions, but watched the spreads. Spread on gbp/usd widened to about 7 pips.. and eur/usd stayed at 2 pips. Not bad at all.. I expected spreads to widen during interest rate announcements.
Nathan, it's worth trying out dukas.. start off with a not too significant news report.. see if your trades go through fine.
Nathan, it's worth trying out dukas.. start off with a not too significant news report.. see if your trades go through fine.
Geez... I found this thread and am reading the whole thing from start to end. I'm on page 6 of 45. I should be ready to start trading in 2009 or so.
I wish there was a way to print the whole thread at once. It would be a novel, but an informative one.
I wish there was a way to print the whole thread at once. It would be a novel, but an informative one.
Geez... I found this thread and am reading the whole thing from start to end. I'm on page 6 of 45. I should be ready to start trading in 2009 or so.
I wish there was a way to print the whole thread at once. It would be a novel, but an informative one.
I know how you feel, it took me quite a few hours to catch up when I started reading it.
I've been trying to save this thread, and the best way I found is to go to the Print Friendly version, click "Show 40 posts from this thread on one page, select the first text and drag down to the last, and copy/paste. It doesn't take more than maybe 15 seconds a page.
[Edit]
Actually, I just finished copying the thread up to the 44th page. If you want, you can PM me your email address, and I'll send it to you. As a .doc file, it's 6.37mb (and 543 pages at 10 font, with tables).
Britguy, I trade anywhere from 1 million to 5 million units.. depending on the report involved. I didn't trade the NFP.. I usually never do, since it has a tendency to be extremely volatile and the spreads go crazy.
I'll be trading the UK trade balance today, although i doubt it will cause a significant move. Nathan, did you open your dukas account yet?
23 pips on the UK trade balance report.. I traded twice on this one.. the first time i bought and sold.. then it dipped.. so i entered again. Wasn't a big deviation, but fairly enough to make it move more than 10 pips or so.
I won't be trading the canadian interest rate decision itself, as that has been priced in (rate hike expected) Of course if they don't hike the rate.. then i'l buy usd/cad. I'll watch out for the statement accompanying the rate and trade that accordingly.
I won't be trading the canadian interest rate decision itself, as that has been priced in (rate hike expected) Of course if they don't hike the rate.. then i'l buy usd/cad. I'll watch out for the statement accompanying the rate and trade that accordingly.
Hi guys, I've been away for a while biut thought I'd check back in. Haven't been trading at all these past couple weeks as I've been away on a fishing trip and have been busy with other things as well. Glad to see everyone's still trading and learning and all that good stuff. I'll get back into trading this week and will post my results... Take care...
I'll get back into trading this week and will post my results... Take care... Shard, check out the JPY pairs.. USD/JPY lost about 200 pips today.. and I jumped in (on CMC.. hehe, time to take my revenge on them) Shorted USD/JPY at 121.65.. sucker went to 121.35 and I got out. I think it may still go down more.. all jpy pairs are being hammered.. and for vague reasons.
I don't know.. I have a funny feeling that it's either:
1. They have some inside information that Japan is going to hike rates or..
2. Japan is going to leave rates as they are.. and they are just getting ready for some massive profit taking by driving jpy pairs down.. and then buying them up at a good price.
I don't know.. I have a funny feeling that it's either:
1. They have some inside information that Japan is going to hike rates or..
2. Japan is going to leave rates as they are.. and they are just getting ready for some massive profit taking by driving jpy pairs down.. and then buying them up at a good price.
I'm practically having a massively enjoyable session.. I was watching gbp/jpy and usd/jpy.. usd/jpy hit 121 and then stayed there. GBP/JPY was stuck at 245.08. All of a sudden, both started jumping.. 5 pips, then 10.. then 20.. then 30. So makes me wonder if this so called 'drop' was all manipulated so that everyone could get in at a lower price
I stayed out though.. but after GBP/JPY hit 245.60 in a few seconds, I jumped in and bought a huge lot.. and exited at 245.93 When these suckers move, they MOVE!
I stayed out though.. but after GBP/JPY hit 245.60 in a few seconds, I jumped in and bought a huge lot.. and exited at 245.93
When these suckers move, they MOVE!
Great, thanks for the head's up Music_Producer. As you say, either this is only the tip of the iceberg and someone knows something, or the carry remains (inexplicably) strong and this is simply an artifical pullback before even more carry trades pile on.
Regardless, great job on your CMC revenge trade and I might just have to do likewise if things continue... The rate announcement isn't until tomorrow night though I believe...
Thanks again!
As you say, either this is only the tip of the iceberg and someone knows something, or the carry remains (inexplicably) strong and this is simply an artifical pullback before even more carry trades pile on. Regardless, great job on your CMC revenge trade
and I might just have to do likewise if things continue... The rate announcement isn't until tomorrow night though I believe...Thanks again!
Yup, I think it's ust a buying setup.. I have seen this happen a few times. All jpy pairs fall 200-400 pips.. and then come back up almost in one day!
GBP/JPY is at 246.15 now.. so it jumped more than 100 pips in literally a few minutes. I also had a feeling that 121.00 would be a good support level for USD/JPY and it would bounce back to maybe 10 or 20 pips.. but gbp/jpy is a different beast.. it can totally make or break your trade.
GBP/JPY is at 246.15 now.. so it jumped more than 100 pips in literally a few minutes. I also had a feeling that 121.00 would be a good support level for USD/JPY and it would bounce back to maybe 10 or 20 pips.. but gbp/jpy is a different beast.. it can totally make or break your trade.
Tons of bad news regarding the US Economy.. the S&P is downgrading $12 billion worth of subprime mortgage bonds.. and then the us treasury notes fell quite a bit in value.. so.. basically the $ looks pretty weak unless the Fed chief idiot raises the rates (again, he should.. but if he does, the housing industry gets screwed more, in my opinion though, i don't care about that effect)
I've been eyeing USD/CAD.. it's gone up quite a bit.. but I'll wait until CAD/JPY settles down.
I've been eyeing USD/CAD.. it's gone up quite a bit.. but I'll wait until CAD/JPY settles down.
Whatever you do, do NOT open an account with CMC Markets, or if you have one open.. get your money out and close it. I was trading the JPY pairs today.. no-news trades.. and I would short the pairs..
My profit was at $350 for an open trade.. so i closed it.. it took ten seconds to close.. and the profit still showed $350.. and then it closed.. and profit? $0! This happened a couple of times, every profitable trade i closed.. reverted back to zero profits. WTF??? Re-quotes is one thing, but cancelling your profits is a sorry ass way of dealing. Bunch of losers
My profit was at $350 for an open trade.. so i closed it.. it took ten seconds to close.. and the profit still showed $350.. and then it closed.. and profit? $0!
This happened a couple of times, every profitable trade i closed.. reverted back to zero profits. WTF??? Re-quotes is one thing, but cancelling your profits is a sorry ass way of dealing. Bunch of losersI did, and they replied back with the usual canned answer stating that the currency moved when i clicked to close my position.. slimy liars.. the pair stayed at the same level for more than a minute after i closed my position. I wish I had video taped it.
Yes, currenex is working great.. and so have my jpy pairs trades (I'm also trading them on mb trading) Basically everytime there is a huge sell off in jpy pairs.. look for buying opportunities, they eventually come back up.
Yes, whats annoying is you find an edge in the markets, and firms like cmc do every trick in the book to stop you winning. It isnt until you start winning, that you realise what a crooked game you are playing.
I presume on the JPY trade you were only after a few pips <10 and they took back from you.
I presume on the JPY trade you were only after a few pips <10 and they took back from you.
That's horrible Music_Producer. I've been more and more frustrated with MC as of late myself - it seems like when I'm waiting for the news and then I get the report, the pair (at least as CMC represents it) doesn't move at all, even when I think there should be movement - it's like they're "stalling" it - at least to me. This might not be the case, but still, once I have some more time I am definitely going to look into alternatives.
Anywho, no trade just now. CMC didn't move at all, but it didn't appear as there was much variance to the US data either, so fair enough...
I've been more and more frustrated with MC as of late myself - it seems like when I'm waiting for the news and then I get the report, the pair (at least as CMC represents it) doesn't move at all, even when I think there should be movement - it's like they're "stalling" it - at least to me. This might not be the case, but still, once I have some more time I am definitely going to look into alternatives.Anywho, no trade just now. CMC didn't move at all, but it didn't appear as there was much variance to the US data either, so fair enough...
I've seen that happen too Shard.. the price remains the same.. i.e. until you get in or out.. sometimes I've even seen it move the opposite direction (I have a oanda window open at the same time.. the oanda chart goes up.. and the cmc price goes down)
Absolutely ludicrous that a firm that has so many branches worldwide can pull tricks like these. Britguy, yup.. I was just trying out a few 'logical' trades with the jpy pairs.. not after a lot of pips at all.
In fact, about 10 minutes before the US trade balance, I shorted the USD/CAD since the canadian trade balance was coming out.. and I thought that the USD/CAD had been overbought. Kept my fingers crossed.. and as the news came out.. usd/cad went down by 12 pips or so.. and i made my profit.
I have been trading since the last few days based on pure logic.. things happen when the london markets open.. new york opens and so on. For instance right now, gbp/usd has fallen by more than 30 pips since the US markets opened. So I was using the cmc platform to try out my non-news trades.. but they've started messing around with those as well.
Absolutely ludicrous that a firm that has so many branches worldwide can pull tricks like these. Britguy, yup.. I was just trying out a few 'logical' trades with the jpy pairs.. not after a lot of pips at all.
In fact, about 10 minutes before the US trade balance, I shorted the USD/CAD since the canadian trade balance was coming out.. and I thought that the USD/CAD had been overbought. Kept my fingers crossed.. and as the news came out.. usd/cad went down by 12 pips or so.. and i made my profit.
I have been trading since the last few days based on pure logic.. things happen when the london markets open.. new york opens and so on. For instance right now, gbp/usd has fallen by more than 30 pips since the US markets opened. So I was using the cmc platform to try out my non-news trades.. but they've started messing around with those as well.
I agree with your point on the Yen pairs - buy dips. Would you consider the same with the US stock market. Sell Dow around the 13700 mark for a couple of hundred points profit?
NZ - retail figs tonight. I am looking forward to this trade as its a pre-cursor to the interest rate story in late July. So much worse figs NZD/USD will be hammered, whereas much better figs may make a July hike likely.
NZ - retail figs tonight. I am looking forward to this trade as its a pre-cursor to the interest rate story in late July. So much worse figs NZD/USD will be hammered, whereas much better figs may make a July hike likely.
Nice, solid trade - a hefty 26 pips on the nzd report. On my mb account, I had also bought a few lots of nzd/usd this morning.. had a feeling it would go up. Maybe I should trade with my gut feeling now .. it's becoming more reliable these days
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