ANY FOREX TRADERS IN THE HOUSE?

[BuLLsAndBeaRs]

I see some of you guys play with stocks and options. Who here trades forex?

Forex is the most liquid and most traded market on planet earth. Even with the current market situations, Trillions of dollars are traded daily. I make money everyday playing the fluctuations in the currencies. Given the occasional drawdown. The thing I like most about forex in comparison to other markets such as stocks is forex is smoother, it has more of a predictble rythm and it will trend better than any other market. I basically am a trend trader having turned day trader. We are still trending down, but more in a range now which is quite beautiful if you know how to take advantage.

Even now being in a bottoming out phase, we hope, most currencies are still holding true to a trend, DOWN. Having scaled down my positions dramatically this year to reduce risk I can still make $100-1000 in a day. Week before last I brought on over 2100 pips! $$$ that equated to $1800.

I trade all major pairs, focusing mostly on the eur/usd , gbp/usd, and usd/jpy. Would love to chat with some fellow 4x traders or anyone thinking about trying it out. You can open an account for as little as $250 and whamo, ur in the forex market.

Nice to see financials being covered in a BB forum. Genious.

BB

[laramik]

I used to. Not much time for that right now for me though. I keep WAY too busy in MBS's these days. With the Fed buying up over a trillion in em, its a day traders delight. Made way way too much money in the last 4 mos. But you make some very valid points and I hope it keeps on the same pattern for you.

[BuLLsAndBeaRs]

Originally Posted by laramik

I used to. Not much time for that right now for me though. I keep WAY too busy in MBS's these days. With the Fed buying up over a trillion in em, its a day traders delight. Made way way too much money in the last 4 mos. But you make some very valid points and I hope it keeps on the same pattern for you.

I would love to hear how your playing those. My head is in forex 24/7. I keep up with the news, but any news i hear i make plays on the currencies. We may be able to help eachother if you care to do any forex. I win about 90% of my trades. Curently long in the usd/jpy, short gbp/usd, short eur/usd (on every rally the market gives me!), got a hedge play on the usd/chf, close to take profit now as a matter of fact. Volatility has been great. Always looking to network with a profitable trader.

BB

[BuLLsAndBeaRs]

BTW laramik,


do you really run a 4m 15s mile?????? at age 30?

BB

[krzna]

right here usd/inr and usd/jpy

4 days a week ... mostly out of india/norita though based on time difference and economic climate.

[BuLLsAndBeaRs]

Originally Posted by krzna

right here usd/inr and usd/jpy

4 days a week ... mostly out of india/norita though based on time difference and economic climate.

Good to meet you krzna. I do not have the usd/inr pair. How is that working out for you? Been hearing good things about india economy. Would be interested to hear how you are trading that one.

usd/jpy is in a nice pullback right now. i sold it twice this morning. i believe the usd will regain strength and this correction will make a nice long at some point this week. We will see how this plays out. I have it in a decending triangle right now on the 1hr. Fundamentally the usd will gain grounds again.

Do you trade monday-thursday?

BB

[krzna]

Originally Posted by BuLLsAndBeaRs

Good to meet you krzna. I do not have the usd/inr pair. How is that working out for you? Been hearing good things about india economy. Would be interested to hear how you are trading that one.

usd/jpy is in a nice pullback right now. i sold it twice this morning. i believe the usd will regain strength and this correction will make a nice long at some point this week. We will see how this plays out. I have it in a decending triangle right now on the 1hr. Fundamentally the usd will gain grounds again.

Do you trade monday-thursday?

BB

One of the branches of my company is based in india so it kinda helps. I have one guy on site in the BSE (mumbai stock exchange) tuesday-wed-thu are my days.

The india bubble is going to burst quick. Be aware that the indian economy is a service oriented economy that caters largely to the US and UK in terms of software outsourcing and business process outsourcing. IN light of the current economic crisis in the Us of A its only a matter of time when the cascading effect hits india. Its not really a ripple effect else it would've already been hit, more like a cascading effect - takes more time , damage is more.

Real estate values back in india are the HIGHEST right now. VERY VERY similar to the countrywide/wachovia/JP morgan crisis in the brewing. Some people never learn.

I will probably start pulling back before august this year and just let it sit. I dont trade stocks anymore after what happenned in bear-stearns/wachovia Forex is more profitable anyday. The way I see it - the dinar is going to get stronger post august.

Good to meet you too brother.

[The_Anonymizer]

Where should someone go to learn about Forex who knows absolutely nothing about how to trade it or the underlying fundamentals?

I believe strongly that no one should try to trade in something they dont understand.....same as playing a game at a casino without knowing at least basic strategy. Easy way to get slaughtered.

[unnatural1]

Originally Posted by krzna

right here usd/inr and usd/jpy

4 days a week ... mostly out of india/norita though based on time difference and economic climate.

krzna, what broker do you use to trade usd/inr? My brokers don't offer this pair.

[laramik]

Originally Posted by BuLLsAndBeaRs

BTW laramik,


do you really run a 4m 15s mile?????? at age 30?

BB

I hope this doesn't make me a liar, because I just timed myself at the gym on sunday and was pretty dissapointed to see that I timed in at 4:36. It was an 11 lap track however and I've never done well on those.