Day Traders - Forex Market

[MG Man]

sorry for the late response, Redman
Time: maybe 2-3 hours a day watching charts and doing analysis..this will vary depending on if I'm waiting on entry points...in which case I check back every houe at the close of the hourly candlesticks

In terms of making decisions during market hours, the forex runs 24 hours a day from Sunday evening to Friday evening, so I am not sure what you mean by abstaining from making decisions during market hours.....you cannot make decisions without a live market to analyze.....Right now I tend to trade the London session, so I'm up from maybe 3:00am and by 9:00am I'm through trading for the day, usually just waiting for entry points

I'd rather not disclose my earnings here but let's just say I made back the MTI education investment plus extra in two months with no fuss.....and that's with trading very conservatively

I don't expect to make huge gains for maybe another six months simply because I funded my trading account with a small sum. Right now my profits are rolling over. The more I have to trade with , the better my equity management and the more profitable my trades will be...

and before you ask, yes I lose money on some trades, but this is to be expected. The market can only go two ways, for you or against you...

One element of the MTI education is managing equity and determinig which trades are good trades, depending on your equity management and market indicators
I am no financial hotshot investor, so for me personally, the MTI education was worth the investment.....and I got two months free charting so I could practise with a demo account and make my mistakes and try out different strategies...

anybody else find the forex market crazy today?

[Redman]

Sounds cool MG Once its working for you keep it up

The decision making during trading hours was really directed towards the Equity markets- and their open hrs.

You can analyze depending on your time frame- again dealing with the assumption that traditional technical analysis is based on an open close and the volumes where in- youre describing a recent phenom of 24hr trading.-Many roads one can take - you choose your poison in this biz.

I averaged down on the leaps-- I feel gold and other commodities have a run to make this year.
Ive been comfortable making a few big bets on macro moves-In this case Im betting on stronger commodity prices as supply remains constrained and demand for everything continues to grow.
1500 this year on Gold doubles my money.

Im looking at Coal as well as having good LT prospects.

I guess everybody else is busy trading


Later

[Skanky]

sorry for the late response, Redman
Time: maybe 2-3 hours a day watching charts and doing analysis..this will vary depending on if I'm waiting on entry points...in which case I check back every houe at the close of the hourly candlesticks

In terms of making decisions during market hours, the forex runs 24 hours a day from Sunday evening to Friday evening, so I am not sure what you mean by abstaining from making decisions during market hours.....you cannot make decisions without a live market to analyze.....Right now I tend to trade the London session, so I'm up from maybe 3:00am and by 9:00am I'm through trading for the day, usually just waiting for entry points

I'd rather not disclose my earnings here but let's just say I made back the MTI education investment plus extra in two months with no fuss.....and that's with trading very conservatively

I don't expect to make huge gains for maybe another six months simply because I funded my trading account with a small sum. Right now my profits are rolling over. The more I have to trade with , the better my equity management and the more profitable my trades will be...

and before you ask, yes I lose money on some trades, but this is to be expected. The market can only go two ways, for you or against you...

One element of the MTI education is managing equity and determinig which trades are good trades, depending on your equity management and market indicators
I am no financial hotshot investor, so for me personally, the MTI education was worth the investment.....and I got two months free charting so I could practise with a demo account and make my mistakes and try out different strategies...

anybody else find the forex market crazy today?

Good going man,congrats.By gaining back what is a large sum of money in short time I assume you are a scalper?
Just a quick question though....textbook money management says you risk no more than 5% of your account at one time.In scalping I assuming youall use physical stops......how youall set those stops seeing the forex is so volatile and still stay within the 5% rule? For a 50 pip stop you'd need a 10k account assuming $10 per pip?Also what's kinda risk/reward ratio youall use?

[nismotrinidappa]

mg say he finish trading at 1-2 am in d mornin...

den he say he he up from 3 am to 9 am researching

trekkers only need 1-2 hours sleep a day?

[AbstractPoetic]

Right now I tend to trade the London session, so I'm up from maybe 3:00am and by 9:00am I'm through trading for the day, usually just waiting for entry points

Stamina man?

I'd rather not disclose my earnings here but let's just say I made back the MTI education investment plus extra in two months with no fuss.....and that's with trading very conservatively

This is great to hear!! Keep going and I hope you're re-investing some of those earnings!

[AbstractPoetic]

SAN FRANCISCO (MarketWatch) -- Standard & Poor's said Tuesday it cut Greece's ratings to junk status. The ratings agency lowered the long-term sovereign credit rating on Greece to BB+ from BBB+. The outlook is negative. "The downgrade results from our updated assessment of the political, economic, and budgetary challenges that the Greek government faces in its efforts to put the public debt burden onto a sustained downward trajectory," said Marko Mrsnik, an S&P credit analyst, in a statement

http://www.marketwatch.com/story/sp-cut ... 2010-04-27


Euro has plummetted. Market isn't doing too good today.

[MG Man]

SAN FRANCISCO (MarketWatch) -- Standard & Poor's said Tuesday it cut Greece's ratings to junk status. The ratings agency lowered the long-term sovereign credit rating on Greece to BB+ from BBB+. The outlook is negative. "The downgrade results from our updated assessment of the political, economic, and budgetary challenges that the Greek government faces in its efforts to put the public debt burden onto a sustained downward trajectory," said Marko Mrsnik, an S&P credit analyst, in a statement

http://www.marketwatch.com/story/sp-cut ... 2010-04-27


Euro has plummetted. Market isn't doing too good today.

are you nuts???
anybody who short the Euro made a killing, with a capital $$$$$$
Look at what happening with Greece and Portugal.............
good money was made on the falling GBP last night too

[MG Man]

AP BTW some of us captured 60 pips last night on the falling GBP
At US$10.00 a pip, do the math...........you can MAKE money on a falling currency if you pay attention to the market

[Team Loco]

i attended one of the introductory sessions. seems like a good investment. therefore i'm going for it based on:

-its already hard to sell an item to the general public and you only make a small profit.

-teaches you to excercise self control
-excellent control over your finances
-indirectly it teaches you about the world market
-freedom of choice

[MG Man]

pfffffffft
it teach me to make money

[AbstractPoetic]

SAN FRANCISCO (MarketWatch) -- Standard & Poor's said Tuesday it cut Greece's ratings to junk status. The ratings agency lowered the long-term sovereign credit rating on Greece to BB+ from BBB+. The outlook is negative. "The downgrade results from our updated assessment of the political, economic, and budgetary challenges that the Greek government faces in its efforts to put the public debt burden onto a sustained downward trajectory," said Marko Mrsnik, an S&P credit analyst, in a statement

http://www.marketwatch.com/story/sp-cut ... 2010-04-27


Euro has plummetted. Market isn't doing too good today.

are you nuts???
anybody who short the Euro made a killing, with a capital $$$$$$
Look at what happening with Greece and Portugal.............
good money was made on the falling GBP last night too

Not all of us are in the business of shorting.

[AbstractPoetic]

pfffffffft
it teach me to make money

With every fall there is a rise. Lots of folks are selling though. I've decided to buckle down and ride the wave on this one.

[AbstractPoetic]

i attended one of the introductory sessions. seems like a good investment. therefore i'm going for it based on:

-its already hard to sell an item to the general public and you only make a small profit.

-teaches you to excercise self control
-excellent control over your finances
-indirectly it teaches you about the world market
-freedom of choice

Shorting is a learned art. Much more complex but worth the risk.

[MG Man]

SAN FRANCISCO (MarketWatch) -- Standard & Poor's said Tuesday it cut Greece's ratings to junk status. The ratings agency lowered the long-term sovereign credit rating on Greece to BB+ from BBB+. The outlook is negative. "The downgrade results from our updated assessment of the political, economic, and budgetary challenges that the Greek government faces in its efforts to put the public debt burden onto a sustained downward trajectory," said Marko Mrsnik, an S&P credit analyst, in a statement

http://www.marketwatch.com/story/sp-cut ... 2010-04-27


Euro has plummetted. Market isn't doing too good today.

are you nuts???
anybody who short the Euro made a killing, with a capital $$$$$$
Look at what happening with Greece and Portugal.............
good money was made on the falling GBP last night too

Not all of us are in the business of shorting.

you sound like you pulling info out your a.ss
how is shorting a complex art?

[AbstractPoetic]

SAN FRANCISCO (MarketWatch) -- Standard & Poor's said Tuesday it cut Greece's ratings to junk status. The ratings agency lowered the long-term sovereign credit rating on Greece to BB+ from BBB+. The outlook is negative. "The downgrade results from our updated assessment of the political, economic, and budgetary challenges that the Greek government faces in its efforts to put the public debt burden onto a sustained downward trajectory," said Marko Mrsnik, an S&P credit analyst, in a statement

http://www.marketwatch.com/story/sp-cut ... 2010-04-27


Euro has plummetted. Market isn't doing too good today.

are you nuts???
anybody who short the Euro made a killing, with a capital $$$$$$
Look at what happening with Greece and Portugal.............
good money was made on the falling GBP last night too

Not all of us are in the business of shorting.

you sound like you pulling info out your a.ss
how is shorting a complex art?

Oh brother . Before I answer your question, have you ever shorted stocks or are your experiences in short selling solely limited to that of the Forex Market?

[MG Man]

***looks at name of ched***
***scratches a.ss***

[AbstractPoetic]

***looks at name of ched***
***scratches a.ss***

Have you or have you not short sell on the stock market? It is a simple enough question. Have you only exposed yourself to short selling currency?

[MG Man]

I try not to expose myself........the police frown upon such action

[AbstractPoetic]

I try not to expose myself........the police frown upon such action

With respect to your "you sound like you pulling info out your a.ss" comment:

Not all of us investors short-sell stocks. Majority of us buy and are still learning the ropes of how the stock market works. Short-selling, the art of borrowing what isn't yours, comes with its own set of regulations and high risk, especially seeing that you are more susceptible to gamble more than you actually have, worse yet if the stock splits.

Short-selling on the stock market and short-selling on the Forex are two different ball games. This is why I ask if you have experience in both environments to question the complexity of shorting as a whole.

[MG Man]

***looks at name of ched***
***scratches a.ss***

[AbstractPoetic]

***looks at name of ched***
***scratches a.ss***

Then you are in no position to question the complexity of shorting because your experience is limited to one arena.

Enjoy your scratching. Make sure to wash your hands afterwards.

[MG Man]

***looks at name of ched***
***scratches a.ss***

[Redman]

Allyuh too funny.

But further to the thread-MG the trading platform you using can do stocks etc in addition to FX?

-if you still scratching yuh bottom doh tell meh eh

Later

[Rooki3]

^^:rofl:

[MG Man]

Allyuh too funny.

But further to the thread-MG the trading platform you using can do stocks etc in addition to FX?

-if you still scratching yuh bottom doh tell meh eh

Later

I use two trading platforms
The one from MTI which is for forex, and I use another one that allows trade in commodities, including crude and gold, as well as forex
I was never interested in stocks. I am generally lazy and so far forex is giving me good rewards with minimal effort
In my (very) limited experience, I think my odds for success are better with forex than stocks...I may be wrong, but so far my profits comtinue to surpass my losses and hopefully by next year I would really be able to stay home, trade, scratch a.ss and work on old cars...

[wagonrunner]

^^
KANTnap in 3

[MG Man]

[bluesteel29]

if this was forehead trading Rihanna would be a bajillionaire...

not nice

[Redman]

Allyuh too funny.

But further to the thread-MG the trading platform you using can do stocks etc in addition to FX?

-if you still scratching yuh bottom doh tell meh eh

Later

I use two trading platforms
The one from MTI which is for forex, and I use another one that allows trade in commodities, including crude and gold, as well as forex
I was never interested in stocks. I am generally lazy and so far forex is giving me good rewards with minimal effort
In my (very) limited experience, I think my odds for success are better with forex than stocks...I may be wrong, but so far my profits comtinue to surpass my losses and hopefully by next year I would really be able to stay home, trade, scratch a.ss and work on old cars...

Breddo -once it working for you keep going-but diversification is important so keep your mind open to changing markets should things change.
And if like me you are lazy you might want to explore the currency etfs that will give you exposure to currency moves without the hassle of future or currency positions.More of a foundation to the forex portfolio.

just my 2 cents or euro or yen or dmark or tbaht.

I think the dynamic will change with Greece possibly pulling the Euro apart-A key tool for IMF policies to work is devaluation of the local currency -which will pose a problem if the target country is part of the Euro-So Greece will be testing the structure of the Euro community

Later