*Official* Forex Trading thread.

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Daimon

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Seems like no thread on Forex except for FCS.

Talk about Forex trading here.

Scoop for cai png or 2 Star Michelin food all are also welcome for "horse race". :D

TRICKS OF THE TRADE
1) Work out a strategy that suits your trading style.
2) Capital preservation. In this game the winners are marathon runners not sprinters.
3) Before each trading day read up financial news and upcoming economical data release timeline first.
4) Have a healthy margin level. In case flash crash happens.
5) Trade currency pairs with tighter spreads and high liquidity.
6) Risk to reward ratio. If instinct tells you it is a bad deal. Walk away. Plenty of opportunities going forward.

There are too many factors to list here. One will learn as you go along. Eg. AUD, NZD, CAD are correlated to commodities prices.

RISK MANAGEMENT
Low risk appetite: Place stop loss at 10 pips.
Medium risk appetite: Place stop loss at 20-30 pips.
High to extreme risk appetite: Place stop loss from 50 pips to no stop loss. :s13:

Your risk appetite is also getting higher? :s13:

I think you guys are starting to get the hang of it. This is what I meant by letting it run its own course. Use stop loss sparingly because your profits will be eaten by frequent stop loss cuts.

EUR, GBP and JPY are highly volatile especially if there are major data releases. The price movement will prata (range bound) multiple times and triggered all stops both north and south bound.

Sometimes we must also learn how not to trade when positions are stuck. Do not do dollar cost averaging with multiple positions on same currency pair because your used margin will be under stress.
 
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Mr.Canberra

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For people who putting in real chips to hoot Forex lip lai. :s13:

Demo account and paper trading talk will be ignored. :D
 
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awful999

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haha, huat ar...exiting now..chiong now


wait..wait let me on my second notebook..
 

Mr.Canberra

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USD/JPY

Shoot up liao! ¥113.274. :s13:

Let it run. Be patient. Will still chiong up.

Take profit ¥113.4X.
 

neoartz

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lai support haha. Just now at around 9pm, i opened a short EUR/USD haha:s13:
Today jiak 100pips hehe

opened at long USD/JPY (111.783) at around 7.15am. damn lucky to catch it
 

Orionz

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lai support haha. Just now at around 9pm, i opened a short EUR/USD haha:s13:

I reduced my short position for eur usd already. I think ECB might taper. But USD is still satki today :s13:
 

Average

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really anyhow buy also can liao lo
v4MZNMtl.png


Sent from 穷小子 using GAGT
 
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