I suppose I am too, but I am still a demo jockey at this point. I've been looking at 120 and 240 minute charts and generally speaking, when I see an opportunity I just bracket my order with a stop that makes sense and a conservative limit and let it go. Then I turn the machine off and go for a walk or go grab a beer with a friend. Most holds last 1-2 hours, and could go further.
Residents include PR, Citizens and anyone who are legally allow to work or study in the US. Oops, I guess I am wrong. http://www.pueblo.gsa.gov/cic_text/money/insured-deposit/general.html
Not sure how related this chat will be to the subject here, but I thought to post: Using Equity and Future Strategies to Trade Foreign Currencies If you've ever wanted to learn about foreign currency trading, our next chat session is for you. Kathy Lien, Chief Fundamental Strategist of FXCM, will talk about how equity and future strategies can be used to profit in the FX market. That's Wed., July 16th at 4:30PM in the Elite Trader Chat Room. André
My plan has me starting limited forex this month. In terms of time to set up an account outside IB, learn to operate it, screen space, and other considerations, I'm inclined to try the E7 contract. Is this the mini version of a Euro contract referred to above and does anyone have experience with this or some other suitable contract through IB they would comment on. I have casually watched it for several months and the spreads seemed fairly wide. I looked at the J7 contract on yen at CME and couldn't see that it traded much at all. References are to IB symbols. Thanks. Geo.
Try entering 'EUR' then choose the Futures -> Month/Year -> Globex from the IB menus. That should give you the larger sized Globex executed contract for the euro.
............some of our most "profitable" traders are our currency traders................I would consider them professionals.... rttrader -
As marketsurfer has just stated...I am a NQ/ES trader who also has recently started trading the FOREX/currencies...trends seem to "hold" longer and I need to be a little more patient and let trends develop to make your profits, it's a different 'style' of trading....also I need to do a LOT more international research as well especially foreign monetary policy. Just my .02 cents worth... rttrader -
I just made my first trade in the Forex, walked away with a whole $12 in profit. I like this forex. It does take more patience than US futures. It is nice to be able to trade at 4PM west coast time.