Forex Day Trader's Thread

Genics said:
linked in what way? a rallying dollar does put downwards pressure on gold but id hardly say gold tracks the dollar...
Click to expand...

well im pretty sure a weak dollar means strong gold and strong dollar means weaker gold, you can see as inflation gets bigger gold gets stronger.


btw. today was the first day i started trading after spending a month on demo, and made £800 so far scalping the eur/usd :clap:
 
well Ridder :)

WE CALLED IT!!!! (y)

I woke up to 180 pips profit with plenty of lots behind it

:clap: :clap:

looks like plenty of trades to make now as well..
 
USD/CAD looks like a gift at 1.187 .. I'm in with 1 lot for a medium-term trade.. s/l 1.14 t/p 1.30

Canada is expected to lower interest rates and might have severe political turmoil in the medium-term.. Any drop in oil and it's all over for the CAD as well.. In essence, I'd say that the USD/CAD is walking next to a cliff..

1.187 might turn out to be a bad entry point but I will add lots to lower my position line.. It's going to turn around again towards 1.30 with a possible breakout to 1.40s in March..
 
suhaib said:
well im pretty sure a weak dollar means strong gold and strong dollar means weaker gold, you can see as inflation gets bigger gold gets stronger.


btw. today was the first day i started trading after spending a month on demo, and made £800 so far scalping the eur/usd :clap:
Click to expand...

LOL. well i am sure that £800 is beginners luck, given your narrow minded view on the link between gold and the dollar. A stronger dollar doesnt necessarily mean gold will fall. You could have a look at the forward curve, gold leasing rates, macroeconomic factors in india ( which is the largest consumer of gold, if you didnt already know) etc.
 
bah.. I'm out +70 pips .. USD/CAD actually looks like it could come down a lot more..
 
tripleogstar said:
LOL. well i am sure that £800 is beginners luck, given your narrow minded view on the link between gold and the dollar. A stronger dollar doesnt necessarily mean gold will fall. You could have a look at the forward curve, gold leasing rates, macroeconomic factors in india ( which is the largest consumer of gold, if you didnt already know) etc.
Click to expand...

really, thats why i am now up to £1150 now :clap::clap::clap:
 
Ridder,

looks like our EUR/USD trade wants to keep going :)

1.357 GMT 17

stop trailed to 1.3644
 
Phil,

I added 1 lot with a market order at 1.391 with the stop at 1.423 before I went to sleep

I added 4 lots with an entry order at 1.376 with the stop at 1.383 in the hope that a break below 1.379 would never look back again.. Everything really worked out perfectly.. Feeling good today.. Need a taco now to complete feeling of well-being..

Spot EUR/USD 1.355

Stop tightened to 1.3615 17:35 GMT
 
KillPhil08 said:
I meant to suhaib. :).

Nice trades pippy :).
Click to expand...

i was scalping here and there, made about 30 trades on it, i didnt use no stop losess but would close my position if i was 15-20 pips down, i made about 4 losses in total, rest were profitable. i was tradoing on a mini account so had 1:400 leverage and lots of 10,000,
 
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