Forex beginner

smeagold

Now might be a good time to buy some small positions in gold, now at 1313 and silver, now at 26.7. The trades should be small. less than 2% of account equity combined. ie 1% of equity for each for 'required security' per trade, with no stop. They're about to go up, but watch the US GDP num later if its above 3% pull the trades if below let them run.

Do you have TSI on your platform? if so here's a quick crash course:

http://thetsitrader.blogspot.com/p/6-buysell-techniques-using-true.html

have a look at MACD and TSI on a 4 hour chart and have a think about it:)

purch

And no I don't know what a Bull Market is

It's available on the Chicago Mercantile Exchange.

You can trade Live Hogs, Frozen Pork Bellies, Live Bullocks, and Frozen Bulls Penis. :eek:

Loads to be made :T


P.S. Don't believe any rubbish people tell you about trading bears

tradetime

purch wrote: »

P.S. Don't believe any rubbish people tell you about trading bears

They're available on the MICEX, trade all the Bears you want, but they keep it quiet because of all the animal rights activists. :eek:

smeagold

smeagold wrote: »

Now might be a good time to buy some small positions in gold, now at 1313 and silver, now at 26.7. The trades should be small. less than 2% of account equity combined. ie 1% of equity for each for 'required security' per trade, with no stop. They're about to go up, but watch the US GDP num later if its above 3% pull the trades if below let them run.

Do you have TSI on your platform? if so here's a quick crash course:

http://thetsitrader.blogspot.com/p/6-buysell-techniques-using-true.html

have a look at MACD and TSI on a 4 hour chart and have a think about it:)

If you we're around to take these trades you could now put in stops a few pips above your original entry points, silver traded at 26.9 and gold at 1317, that way you can't lose money should the market go against you:)

rockitup

purch wrote: »

It's available on the Chicago Mercantile Exchange.

You can trade Live Hogs, Frozen Pork Bellies, Live Bullocks, and Frozen Bulls Penis. :eek:

If you are ever over in the US and are offered a dish of Mountain Oysters just politely refuse it. It is donated from the poor Bulls who donated their
penises. Mountain Oysters are bulls testicles and are considered a delicacy, catches a few visitors out too, Lol

smeagold

LowGear wrote: »

Thank you for your professional guidance, most appreciated.
Missed out on the Gold & Silver you mentioned, I'll keep a close eye on them in the future.
Technical Indicators - I was taught to use (3) Exponential Moving Averages, 10,20 & 50, this was on the Pip Raider chart's and 2,6,12 & 34 on the System 500 chart's which also included the Bollinger.
As for News alerts I setup a Double Trigger system (buy & sell) within a minuet of the speech. Not all Trading platforms allow 2 tickets one going each way at the same time, whereas IGIndex does.

:cool:

Thats a good idea, in theory, however on a major data release the market can do cartwheels in seconds potentially jumping, hitting the trigger to buy on the up, before going straight down and the inverse can aslo be true, costing you cash. EMA is a good one but I'd dump bollingers and go for MACD RSI or TSI. US GDP out soon, gotta dash:)

smeagold

tradetime wrote: »

They're available on the MICEX, trade all the Bears you want, but they keep it quiet because of all the animal rights activists. :eek:

The MICEX you say? can't seem to find that one, can you direct me to the chart?

smeagold

Seriously tho LG if I were you I'd give up actively trading for at least a month before I lost any more money. You simply cannot trade forex unless you understand the price drivers of the markets, too numerous to mention. The movement of a currency is, in a sense, just the expression of the strengths and weaknesses of the economy that supports it. Without a fundamental understanding of economics and finance you won't do well. if you don't know what a bull market is your seriously out of your depth here. Start reading the sites I linked too previously and once you have developed an understanding of basic economics then start trading again.To make money as a trader you have to be sharp and miss nothing. Its impossible to track and factor in data if you don't know what it is your looking for. You must understand the basics. walk before you can run. I'm sure every experienced trader here will agree with this advice. Think about it my friend before you get severly burned.

If you want to learn how to trade gold silver and oil I'm quite prepared to walk you through it, step by step,(its remarkably easy) just not forex

talking of which all them positions I bought in gold silver and oil this morn are now seriously in profit and all 3 markets are on buy signals and heading up.:) stops now set above entry points so I can't lose any money and will scalp them should I get wind of a price reversal.

gmgmgm

LowGear I have to say smeagold's advice is worth listening to. Not knowing what a bull or bear market is shows a worrying lack of contextual knowledge after half a year of trading.
Dare I ask if you have consistently made any profit over the last six months?? How much have you lost? How much would you have made if you were employed normally during this period?

Good luck.

smeagold wrote: »

Seriously tho LG if I were you I'd give up actively trading for at least a month before I lost any more money. You simply cannot trade forex unless you understand the price drivers of the markets, too numerous to mention. The movement of a currency is, in a sense, just the expression of the strengths and weaknesses of the economy that supports it. Without a fundamental understanding of economics and finance you won't do well. if you don't know what a bull market is your seriously out of your depth here. Start reading the sites I linked too previously and once you have developed an understanding of basic economics then start trading again.

smeagold

LowGear wrote: »

Do you ever "trade what you see NOT what you think".

As for Oil & Gold trading, I am more than interested to listen and learn.

I've got 9 charts in my List folder covering Oil & Gold.

:cool:

While trading is, in a sense, reacting to what is happening, as it happens, reactionary trading ie suspending what one has learned and knows and thinks and just hitting a buy or sell button cos the chart your trading has just ticked up or down, and you don't know why, is a recipe for disaster. Theres always a patsy at the table and if you don't know who it is, its you. You need to understand why markets are behaving in such a way and while moves might surprise others they shouldn't be a surprise to you. If you wish to learn how to trade the metals and oil pm me.