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Last Post: 3/30/2007 4:54:48 PM - Followers: 14 - Board type: Free - Posts Today: 0

WELCOME TO CURRENCY CENTRAL! $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ This board was created to be used as a tool for currency traders. If you trade currencies, please feel free to post your buys and sells. As always, these posts will be recommendations and you are responsible for your own actions. I'll be updating the IBOX frequently.... $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ From www.4xmadeeasy.com The foreign currency market (known as the FOREX) is the largest financial market in the world. Every day over $1.5 trillion dollars in currency are traded thru the spot foreign exchange market. Until recently, large international banks dominated this market only allowing access via telephone trading to a select few major corporations, large funds and high net worth individuals. This little known, underexposed, foreign exchange currency market can now be traded online and is available to the general public. Individual investors now have the opportunity to trade the largest, most liquid financial market in the world and have the financial edge that has been traded by major institutions for years. 2001 historical data reflects that a basket of major currencies has far outpaced the returns of the Dow Jones Industrial Average as well as 30-Year Bond Futures. In contrast to the world's stock markets, the foreign exchange market is not subject to the danger of corporate greed, accounting fraud and insider trading. The FOREX market is open 24 hours a day, 6 days a week and can be traded without paying any commissions. Similar to the stock exchange, when you trade the FOREX, you do pay the spread (the difference between the bid and the ask price) but that is it. There are no commissions to pay and you pay the spread only once, unlike the stock market where you pay it twice. $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ Technical Analysis Here are some excellent resources if you want to sharpen your T/A skills..... 1. Technician's Guide to Day and Swing Trading - Martin Pring Comes with an interactive CD. 2. Fxcm.com - They offer introductory courses. This is my broker. No complaints yet. 3. http://www.businessweek.com/magazine/content/04_50/b3912067.htm 4. http://invest-faq.com/articles/tech-an-basics.html $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ Trading Strategies 1. If you are considering a position, check the daily chart. Are you trying to run with it or against it? In other words, try not to short something using 5 min charts if the LT trend is going up. That way, if you screw up in the 5 min chart (or similar), or you step away from your computer, you have a general trend to fall back on (i.e. 8 hour or daily trend). If you want to play it safe, run with the current trend. You are not a prophet, fortune teller, etc. Until you make money, the name plate on your desk is still Clarke Kent. 2. Don't get greedy. Hey, we all want to make money. Don't be an idiot and spoil your profits. Sell into strength going up. No need to think you're going to solve world hunger with one trade. 3. If you are thinking about trading currencies (or anything else for that matter, here's good advice from "disciple": http://www.investorshub.com/boards/read_msg.asp?message_id=4673701
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#916   new board for the IRAQI DINAR... RJ Trotts 12/28/06 05:00:56 PM
#915   FXCM that the one I use ph.212-897-7660 stocDawg 01/24/06 10:20:13 PM
#914   I am new to Currency trading and am wasatch 01/23/06 06:06:15 PM
#913   correction .. LMRI T/A 01/14/06 02:23:09 PM
#912   so ur asking a stock question and not a LMRI T/A 01/14/06 02:15:24 PM
#911   the dollar question was for the following reason ... dig space 01/14/06 01:15:29 PM
#910   certainly no economist here but .. lot of $ LMRI T/A 01/13/06 02:25:19 PM
#909   Direction of the Dollar, dig space 01/13/06 01:57:12 PM
#908   ugh .. LMRI T/A 01/05/06 01:15:38 PM
#907   stop out 2135 stocDawg 01/04/06 01:22:11 PM
#906   just added more at 2061 3lots stocDawg 01/03/06 09:13:44 PM
#905   add more at 1.2036 going short stocDawg 01/03/06 07:28:01 PM
#904   going short eur/usd at 1.2028 stocDawg 01/03/06 03:31:14 PM
#903   Iam back stocDawg 12/09/05 05:27:48 PM
#902   afternoon, just found this board, hope you dont benn 09/08/05 03:41:10 PM
#901   jon what do u think about eu daily ? LMRI T/A 07/30/05 05:00:15 AM
#900   that took LMRI T/A 07/27/05 10:35:48 PM
#899   eu/us long this time .. LMRI T/A 07/26/05 01:25:47 PM
#898   only thing i can seem to rely on jon_e_og 07/26/05 08:02:57 AM
#897   nice 38 pip LMRI T/A 07/26/05 04:54:23 AM
#896   the more i see LMRI T/A 07/26/05 04:19:10 AM
#895   typical fakeout on eu .. LMRI T/A 07/26/05 04:14:53 AM
#894   USD/JPY making a comeback after getting smacked on jon_e_og 07/25/05 12:18:04 AM
#893   well .. LMRI T/A 07/23/05 02:44:32 AM
#892   eur/usd breaking out stocDawg 07/17/05 08:18:02 PM
#891   went long on the eur/usd at 2038 stocDawg 07/17/05 07:44:52 PM
#890   USD/JPY consolidating 11210 - 11235 under 11245/11250 resistance... jon_e_og 07/17/05 05:49:54 PM
#889   good observation, would like to see the right jon_e_og 07/17/05 01:34:43 PM
#888   does eu daily LMRI T/A 07/17/05 01:58:14 AM
#887   a case in pt .. LMRI T/A 07/11/05 02:10:08 PM
#886   ya man, i def feel that, im at jon_e_og 07/11/05 01:48:51 PM
#885   gl jon .. LMRI T/A 07/11/05 01:45:29 PM
#883   short eur/usd at in at 2009 stocDawg 07/11/05 05:34:41 AM
#882   ugh...stopped out for -9 pips jon_e_og 07/11/05 02:38:30 AM
#881   that big down candle on the 1 min jon_e_og 07/11/05 01:51:56 AM
#880   SHORT EUR/USD 1.2005 w/ a really tight stop, jon_e_og 07/11/05 01:51:04 AM
#879   In USD/CHF @ 1.2977 eom Wachovia_Man 07/10/05 11:07:28 PM
#878   they look ok stocDawg 07/07/05 06:46:25 PM
#877   QOILE/CYOS/ILCO how are the lights? eom OneVoice 07/07/05 06:29:53 PM
#876   no but but I shorted the nzd/usd at stocDawg 07/07/05 05:57:42 PM
#875   was anyone holding positions when the terrorism news jon_e_og 07/07/05 04:25:12 PM
#874   up 13teen pips stocDawg 07/06/05 08:24:57 PM
#873   going short the nzd/usd stocDawg 07/06/05 04:56:28 PM
#872   considering a EUR/USD short ~ 11935/40 w. 11952 stop/loss jon_e_og 07/06/05 01:10:52 AM
#871   AUD just took a beating, along with sterling jon_e_og 07/05/05 02:42:08 AM
#870   thats it .. LMRI T/A 07/05/05 02:35:11 AM
#869   [01:55 AM EDT 07/05] jon_e_og 07/05/05 02:01:53 AM
#868   USD/JPY chart still looks strong in its upchannel, jon_e_og 07/05/05 01:45:13 AM
#867   the same mornin star on daily .. LMRI T/A 07/05/05 01:06:06 AM
#866   im considering EUR/USD here but i have a jon_e_og 07/05/05 12:59:33 AM