new to both. I have lots of stock trading experience. Just opened a live account (not Oanda). We'll see how long it takes to wipe out. 1 USDJPY 118.06 long
Wild and wooly intro to fx. Stocks trade differently. I missed most of that Euro breakout due to not being able to surf non job related sights at work. USD/JPY 10 B 116.04 116.02 ($2) 1/3/06 EUR/GBP 10 B 0.6891 0.6893 $2 1/3/06-1/4/06 EUR/USD 10 B 1.2037 1.2124 $87 1/3/06- 1/4/06 AUD/USD 10 B 0.7344 0.7415 $71 12/29/05- 1/03/05 NZD/USD 10 B 0.6852 0.6854 $2 12/29/05- 1/03/06 I had a losing USD/JPY trade that I can't find (my first fx trade). I lost about $60. Up $113.25 on strong market and beginner's luck
My position entries are definitely sub par on this fx thingy. Something can look great on a one hour or four hour chart and then fall back thirty pips because the ticks chart is overextended. That is definitely something to work on. Hopefully, I can use the strength associated with the beginning of the year to propel my $300 initial stake to several times more so that I can take less risk. Maybe I can figure out how to scalp also.
Forex moves like no other, eh? Best of luck. On the bright side, the big swings that overextend themselves give prime opportunities to play reversals back to fib and other s/r levels.
I'm not ready to play trend reversals and retracements yet. I think I might have a scalp method that might work. I have not tried it out yet. The way I look at it, this is more fun than Vegas, and my $300 stake has already lasted longer than it would have at the Craps table. The only thing that sucks is holding onto positions while at work and not being able to get in, get out, or even check up on them. -$P
The people next to me are on myspace.com half the day while anytime I pull up forex-markets.com the IT honcho mysteriously shows up. -$P
Make a deal with him. Tell him you'll only pull up the charts on breaks and offer to show him how to do it. If that doesn't work, take him into the purple room and thump him with the candlestick -- then blame it on the fat cows that surf myspace.com half the day or the furtive chap who can't look anyone in the eye -- he's already had a porn warning so there's motive. But make sure the IT guy doesn't get up! Should this not work, you can always get a Treo 700w -- they will be available starting this week. You can run a couple of charting packages on their windows mobile platform that I know of. Verizon is the carrier. The phone is $499 but you get $100 off with a two year service contract. Verizon's data service is pretty good and reasonably priced. I think Xtick, Metatrader and GFT's dealbook FX run on the windows mobile platform. (Xtick will set you back a few bucks.) Not sure what other options you have at this point but I'm sure there are much better charting packages that will run on the Treo. You can watch the charts and then slip outside and call your broker on the same phone. Good luck.
Yeah, I am looking into the Treo or a Blackberry or something like that. As I understand it, the windows program that run on pda's (major hangover- can't think of it) may or may not support order entry. I would only buy one if it could be assured that I could make order entries. Also, what software program is best irrespective of price? Have you seen Quotrek Yes, the druids in "the purple room" are a squirrelly crew. The rpg players that got picked on in jr high now see themselves as enforcers. I would never use VZ anything. I have intimate knowledge of VZ business policies and reliability standards from my job. I don't work directly for VZ though. Also, I'm not a phone salesman. -$P
Wouldn't go with Blackberry right now...too many troubling signs looming. The HPs running Windows Mobile are pretty good and I think you can get service on another wireless network. (Cingular?) I'm sure the HP line is faster than the Treo 700w as well, but the logistics of wireless cervice and cellular capability are more complicated. (The Treos capabilities are integrated...but not sure how "seamless" they will be.) I don't scalp, however, so my issue is more one of stability than of speed. I have to say that VZ is probably the best in terms of coverage that supports the Windows Mobile platform and although they are sleezy, they are currently the better alternative for me. I doubt the trading platforms that support Windows Mobile allow order entry without paying addition fees -- but try GFT. Their manual implies that one can execute trades on the mobile platform. It's a retail FX platform, but better than most pro platforms. I don't use them myself but they don't charge extra for the platform or for the data feed and their spreads are very competitive. There are no other fees, other than the swap rates (depending on the direction of your trades, of course). You can view the specs here: http://www.gftforex.com/products/mobile/enhanced.asp I have seen Quotrek and it's good, but not sure about the particulars of interfacing with your broker. I also do not like eSignal, which is the data provider for forex, I believe. I'm sure there is something out there that you can use that would knock the socks off of anything available to the retail trader, but I don't know of anything. I'm just a poor retail trader myself.