Forex beginner

LowGear

Anyone buy the oil dip(BTFD) at $86.2? I did, 3x positions $86.6 down to $86.2(scaled in) now trading at $87.61, with stops now set above original entry points(ie I can't lose money) already up over £300 but I'll hold a couple of these babies till the summer, it'll pay for the holiday:) Tradings easy just use your own head and don't rely on someone else's

(BTFD= Buy The F!!!!!!g Dip!)[/QUOTE]


I had a look in the Finder list but, not sure what chart I'm looking for. The only one in the search for "Bull market" was 'Direxion Daily Emerging Mark'.
Any chance in letting me know what chart it is please.

smeagold

LowGear wrote: »

I had a look in the Finder list but, not sure what chart I'm looking for. The only one in the search for "Bull market" was 'Direxion Daily Emerging Mark'.
Any chance in letting me know what chart it is please.

!!!!!!? don't you know what a 'bull' market is?

smeagold

Can I ask how many/which, markets/pairs your trading?

LowGear

smeagold wrote: »

Can I ask how many/which, markets/pairs your trading?

GBP/USD
EUR/JPY
EUR/USD
USD/CHF
AUD/USD
USD/CAD

And no I don't know what a Bull Market is. I've been trading since September 2010 about 19 weeks and still got a long way to go.

:cool:

Linton

LowGear wrote: »

GBP/USD
EUR/JPY
EUR/USD
USD/CHF
AUD/USD
USD/CAD

And no I don't know what a Bull Market is. I've been trading since September 2010 about 19 weeks and still got a long way to go.

:cool:

A Bull Market is when all items in a market have a strong tendancy to continually increase in value. Like Gold/Silver in recent months and also shares since the lows in 2007.

A Bull Market is nice to have but can be dangerous to new investors who see the steady gains as evidence of their miraculous investing skills and are caught out badly when the Bull Market goes into reverse as a Bear Market.

LowGear

Linton wrote: »

A Bull Market is when all items in a market have a strong tendancy to continually increase in value. Like Gold/Silver in recent months and also shares since the lows in 2007.

A Bull Market is nice to have but can be dangerous to new investors who see the steady gains as evidence of their miraculous investing skills and are caught out badly when the Bull Market goes into reverse as a Bear Market.

How long have you been Trading !

:cool:

smeagold

LowGear wrote: »

GBP/USD
EUR/JPY
EUR/USD
USD/CHF
AUD/USD
USD/CAD

And no I don't know what a Bull Market is. I've been trading since September 2010 about 19 weeks and still got a long way to go.

:cool:

Interesting.

I'd have thought

EUR/USD
EUR/GBP
GBP/USD
USD/JPY (but be careful its very volatile)

might be a better combination. I'd dump CAD, AUD and CHF personally myself, (unless you wanted to concentrate on the CHF, AUD or CAD pairs) me thinks your trying to cover too many currencies. To understand the strengths and weaknesses of a currency and therefore its likely direction you need to keep track of whats going on in their relevent economies and their inter-relationships. Don't spread yourself too thin.

LowGear

smeagold wrote: »

Interesting.

I'd have thought

EUR/USD
EUR/GBP
GBP/USD
USD/JPY (but be careful its very volatile)

might be a better combination. I'd dump CAD, AUD and CHF personally myself, (unless you wanted to concentrate on the CHF, AUD or CAD pairs) me thinks your trying to cover too many currencies. To understand the strengths and weaknesses of a currency and therefore its likely direction you need to keep track of whats going on in their relevent economies and their inter-relationships. Don't spread yourself too thin.

USD/JPY, I don't use this one because it's too slow. I think you got it mixed with EUR/JPY.

AUD & CAD they mirror each other, the same with EUR/USD & CHF sometimes.

The Forexfactory web site is good for News Alert's.

As for Oil, Silver & Gold, the ones I have in my List are:

• Daily Brent Crude
• Daily Spot Gold
• Daily Spot Silver
• Daily US Light Crude

Am I close to getting it right.

:cool:

Linton

LowGear wrote: »

How long have you been Trading !

:cool:

I dont trade, I feel it takes a lot of effort with not that good long term returns. Buy & hold is my investing style.

smeagold

LowGear wrote: »

USD/JPY, I don't use this one because it's too slow. I think you got it mixed with EUR/JPY.

AUD & CAD they mirror each other, the same with EUR/USD & CHF sometimes.

The Forexfactory web site is good for News Alert's.



As for Oil, Silver & Gold, the ones I have in my List are:

• Daily Brent Crude
• Daily Spot Gold
• Daily Spot Silver
• Daily US Light Crude

Am I close to getting it right.

:cool:

Don't know about too slow it went from 82.15 to 83.19 in 30 seconds today and roughly the same amount on the 20th and the 5th the kind of moves you rarely see in any USD or EUR pairs

I don't trade forex much, sometimes, if I see a decent trade, though I do track them daily as all the major markets are inter-related. I prefer gold silver oil. I found it is better to specialise in just a couple of markets, ones that are in bull markets. I'm surprised you don't know the meaning of a bull market.

here's a couple of sites you ought to be checking daily and learning the terms and concepts:

http://www.marketoracle.co.uk/

http://www.zerohedge.com/

Do you trade news events?

Which tech Indicators do you use?