new member alert!

[darktone]

Fantastic to see a decent BB that deals with Forex
Thx to lee for the pointer and hello to all (especially to anyone who knows me me from advfn) :cheesy:

regards
DT

 

[FTSE Beater]

Hi Darktone

Welcome to T2W

Is it just me, or is forex trading becoming a more viable option these days:?:
I looked at IB's pricing yesterday and it seems they offer free FX data. Has anyone used it :?:

Thanks

 

[mheitkoe]

Free FOREX Data

Hi FTSE Beater,

Sorry, I haven't used the charts from IB. But another source might be the ones offered from Universal FX (http://www.ufxc.com/charts.htm) This is a Java based tool with almost every FOREX charts available.
I addition to this I found out that Genesis Software (http://www.gfds.com) is offering now as well FOREX data with their Trading Navigator (for those of you who is using this tool)

Check it out if you want.
Regards
Mike

 

[oatman]

I don't use this myself or trade forex, so I don't know if it's of any use..
http://www.saxobank.com/

 

[darktone]

oops re 'new member alert'

Hello FTSE beater. Agree with your comment about FX being more viable these days, my head had been turned from US indexes for the moment by the way many pairs obey their S/R levels, E/$ in particular. Currently short E/$ @ 1.1839 and hoping for support at 1.1530/50 to fail,looking to add if this turns out to be the case on the break or the retrace.

Nice to see comments from like minded people, the FX scene on advfn is almost non existent by comparison im afraid

As for charts etc, i mainly use FXCM free stuff as my requirements re indicators etc is basic.

regards
DT

BTW: yove gott a spel checkar here whitch is grete as my spellin suks

 

[leeshindig]

lol darktone......

hows it going?.....

no fx trades for me today, cant fathom out whether gbpvchf wants to try for another new high or retrace....shall watch that daily stochastic with baited breath...

Lee

 

[welshwarrior]

Hi Darktone,

I think I may have seen your name on the daytrader thread before. I agree about S/R levels - I can only think that it is to do with the volume more than anything. EUR/USD is like a large tanker when it gets going, and you have more opportunity to jump off when things go wrong too.

 

[darktone]

Hi lee / Welsh warrior.

Thats E/$ support at 1550 gone didnt have the bottle to add, will sell on test of resistance.

 

[neil]

Look at Euro/$ go.....down.... from 2.30pm -ish.......

 

[Zenda]

Euro Chart

Hi - Did you all catch it? - When it starts to go.....it goes - Ideal move from a pre order position long or short and breakout specialists.

 

[Newtron Bomb]

Hi Zendra, darktone, mike, welksh warrior & others welcome

Absolutely fabulous move for euro and gbp tried shorting early in the day but both stopped for small losses second stab caught some lovely action from 1.6960 and 1.1590. Numerous indications on multiple time frames.

Hope you all got a piece of the action

reagrds
NB

 

[neil]

Four time frames....the 1 hour (max I use) showed overall down bias. )

 

[darktone]

hello zenda/neil/newtron bomb

neil

Shows how we are all different doesnt it. I start with the 3 yr chart and work my way down to the 1hour chart. hehe

 

[Goober]

FWIW, EUR/USD weekly chart indicates strong up trend. On the daily chart, there is support at 50 SMA after yesterday's large bar down and CCI (14) at -193 indicates oversold.

I've just gone long at 1.1473 with a stop at 1.1426.

Goober

 

[neil]

does the daily look like a double top?

 

[Zenda]

Its you thats doing it Goober? Recent Refco Report

London, November 4: EUR/USD is
retesting the session highs of 1.1479 as early New Yorkers look for more stops
above 1.1480.
In the absence of any US data releases we would not be surprised to see a
session of consolidation after yesterday"s ISM inspired EUR/USD sell off. Good-
size multi-account sell orders are expected around 1.1500, which could work to
stall the euro"s upside correction.
US equities (the Dow up 57-points Monday) will be keenly monitored while dealers
are likely to keep an eye on Brussels for any more stability pact rhetoric from
the finance ministers meeting.
Technically, the intraday chart is losing momentum as EUR/USD has failed to beat
the 1.1480 session best. However a break above could pave the way for further
gains towards fibo resistance at 1.1500 (38.2% of 1.1620/1.1430 move) and 1.1525
(50%). -- [email protected]

Boston, November 4:
EUR/USD has shown little propensity to bounce very far, rebounding toward the
top of its consolidation range near 1.1480 before stalling, but no further. The
EU continues to rollout the day of reckoning for France and Germany, giving them
another three weeks to get their fiscal houses in order, like that is going to
do any good. Expect some cosmetic efforts at budget consolidation while the EU
looks the other way. Not a EUR positive.
EUR/JPY has rebounded from an overnight slide, helping underpin the EUR
intraday. With no US data today, cross flows and equity prices will get close
attention. Small stops are seen above 1.1480, but offers are seen at 1.1500.
Options protection is rumored on dips to 1.1425/30, ahead of 1.1400 strikes. --
[email protected]

 

[turtle trader]

Certainly looks like a DT to me (at/slightly below previous resistance from May/Jun which I believe adds more strength to the signal). Like Goober says though, it is at the 50 SMA so maybe we will see some support here. I'm going to stick to short term charts (60 & 15 mins) and trade those until further direction is clear. Ideally i'd like it to break down from the consolidation it's been in since about 5pm yesterday & then go short, maybe at around 11440/50 with a stop just above the consolidation. I may go long if it breaks up but at the moment i'd feel happier selling.

Any other views?
Turtle

 

[Goober]

Closed at 1.1478 for 5 pips.

Neil, Zenda and TT

Your comments are all spot on. In fact, the DT on the Daily is also part of a weak H&S. My primary reason for this trade was a short-term bounce of 50 SMA after yesterday's large down bar. However, Zenda's post with news i.r.o. EU fiscal meddling convinced me to bale. No doubt, this will signal the beginning of a glorious rally!

Interestingly, there is also a DT (June and October) on the weekly chart.

Happy trading

Goober

 

[neil]

At least you got a profitable trade - well done Goober.

 

[snip]

Hello Guys

Thinking about swing trading Forex, but am with SB company which only operates between 0700 - 2115hrs.
1. Whats the minimum capital I need to trade with direct broker.?

2. Any direct brokers offer demo software for more than a month, so that I can experiment before going live.?

3. Whats the minimum contract with these brokers in £'s.?

Appreciate your advice...

Cheers Snip