anybody in here do currency trading (forex)? i heard u can make $$$$

[Xtraz2]

i knew this cat that had like 5 monitors, starin at his screen all night lookin like a zombie

he played with fake money at first , then when he started gettin good at it he started using real money

he flipped a benz in like a month and went on a vacation to hawaii, when he came back he wuz out tha loop again and said he had to start practicing it all over

have any of ya'll dabbled in it, wut wuz your salary lookin like?

 

[Slaimon Khan Shah]

I'M NOT INTO THAT, I DON'T WANT TO TAKE RISKS.

 

[Gallo]

I'M NOT INTO THAT, I DON'T WANT TO TAKE RISKS.

Explains a lot.

 

[KingJudah]

You dont make a salary lol. Its like day trading stocks. Trade currencies when they fluctuate.

 

[Domingo Halliburton]

Take any currency long against the yen. Japans central bank is devaluing the yen to spur economic growth. If you don't understand why a country would devalue their own currency then do not trade forex. If you don't understand the difference between long and short, then stop now and don't trade currency. Also, if you're not a sophisticated investor then don't trade forex.

 

[Ego Noir]

Take any currency long against the yen. Japans central bank is devaluing the yen to spur economic growth. If you don't understand why a country would devalue their own currency then do not trade forex. If you don't understand the difference between long and short, then stop now and don't trade currency. Also, if you're not a sophisticated investor then don't trade forex.

care to share some knowledge?

 

[Domingo Halliburton]

care to share some knowledge?

I'm assuming you're american, right? Like I said in the first two sentences of the post you quoted....long US Dollars/ short Yen

basically the Bank of Japan (Japan's Federal Reserve) is trying to jump start their economy after two decades of stagnation. they are devaluing the yen to make exports cheaper (japan is islands, hence they have to export everything). Yen should continue devaluing to like 100 yen / 1 US Dollar. It's at around 93 yen/dollar right now.

Now, you might think a currency falling by 7 yen is a small move. But even 1 penny (USD) move up against the yen is huge in forex and has worldwide implications.

****Note: I have no position in any of the above mentioned trades. I have never speculated on currency. You should buy Toyota if you want to make this yen trade without the currency risk*****

 

[Xtraz2]

tha hell are you talking about

 

[Domingo Halliburton]

tha hell are you talking about

like I said, do you know the difference between long and short in finance?

if the answer is no, don't even try trading forex. just buy into your 401k.

ask your boy who trades what i'm talking about.

 

[Xtraz2]

like I said, do you know the difference between long and short in finance?

if the answer is no, don't even try trading forex. just buy into your 401k.

ask your boy who trades what i'm talking about.

no i don't

but why can't i learn that like everybody else?

or were certain people born knowing tha difference between long and short in finance?

 

[Domingo Halliburton]

no i don't

but why can't i learn that like everybody else?

or were certain people born knowing tha difference between long and short in finance?

my point is forex is really complicated and depends on macro-economic factors. you're getting ahead of yourself. start with stocks, they're the most accessible and openly traded. watch jim cramer on cnbc or something if you're just starting.

by the way, what i mean by long is buy....short= sell

 

[Xtraz2]

by the way, what i mean by long is: buy low, sell high.

errybody know that, thats straight forward

 

[Ego Noir]

my point is forex is really complicated and depends on macro-economic factors. you're getting ahead of yourself. start with stocks, they're the most accessible and openly traded. watch jim cramer on cnbc or something if you're just starting.

by the way, what i mean by long is: buy low, sell high.

The point of higher learning is to share knowledge. Im not asking you to tell me how complicated it is, im asking you to put me on game. Since you came in here you sound like you delve in this. Share some basic knowledge on how you maneuver the charts, even information on lifestyle, etc. Higher learning needs informational threads like this.





So lets get started. I have a demo acct with fxcm just trying to get my fingers wet, trying to build a personal strategy. I tend to prefer more technical analysis, moreso leaning towards scalping.

(for my coli brehs scalping is one of many strategies where you get in and out of trades within 30mins. Its small pip gains but overtime they build up)

Say for instance were trading USD/JPY at 78/80. I open short at 78 always at initial -p/l. I usually wait until the buy quote goes under my sell bid then close for profit. Am I doing this correct?

(for my coli brehs going short = selling, going long = buying)

 

[Domingo Halliburton]

The point of higher learning is to share knowledge. Im not asking you to tell me how complicated it is, im asking you to put me on game. Since you came in here you sound like you delve in this. Share some basic knowledge on how you maneuver the charts, even information on lifestyle, etc. Higher learning needs informational threads like this.





So lets get started. I have a demo acct with fxcm just trying to get my fingers wet, trying to build a personal strategy. I tend to prefer more technical analysis, moreso leaning towards scalping.

(for my coli brehs scalping is one of many strategies where you get in and out of trades within 30mins. Its small pip gains but overtime they build up)

Say for instance were trading USD/JPY at 78/80. I open short at 78 always at initial -p/l. I usually wait until the buy quote goes under my sell bid then close for profit. Am I doing this correct?

(for my coli brehs going short = selling, going long = buying)

Don't commissions kill you doing a lot of short term trades like that? Anyways I mentioned before I've never traded currency. Honestly the way I've been playing the yen is I bought Toyota stock. All I know the big trade right now is long anything against the yen. Also I've heard the euro has peaked and should be coming back down.

 

[Blackking]

or were certain people born knowing tha difference between long and short in finance?

There are a select few people with early life situations that allow them to get involved with finance with a good knowledge and support base.

But you can learn; you will always be at a disadvantage, unless you study up and are a natural beast. And get lucky occasionally.