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Hi Rtrs,Jeff,Ray and rest,
thanks for all your
posting- regarding the fact that you find fundamental /news mostly useless
for currency position trading- that is good news because I trade
technically and I have been fairly successful. Fundamental info are hard
to trade.I have never used fibonacci although I studied it. What are time
clusters?
About type
of order allowed in forex, I know market order and stop loss are normally
used, I did not come across market if touched, limit order, or O.C.O,
perhaps Jeff or Ray will enlighten us on this.
I did come across a forex trader who trade on news, fundamental along
with support and resistance. I believe he trades short term 3-5 days.
Position trading: Jeff what
kind of period are you refering to as a position trade. Also you probably
use stop to have a good night sleep. Are there options on Forex and do you
use it similar to options on futures, expiration period etc.
About interest rate differential It is
either credited or debited to your account every 24 or 48 hrs depending on
your trade from the postings on the web.
Internet connection: probably suitable for
small investor and short-term trading because of free realtime quotes and
easy access. Jeff you probably have access to banks for forex trading and
paid real-time forex quotes so you don't need internet.
I did trade C$ and
Aussie futures profitably in the beginning of the year. I decided to stay
away from Aussie because it had several very sharp movement in range of
80-100 pts overnight and reduced the sizeable profit I had to a couple of
hundred dollars. Yen and Bpound have good volatility generating sizeable
winners and losers.
Some
traders use options on futures to protect against adverse overnight
currency movement, others use forex. I find options represent an additional
cost .
Are there any forex traders who
daytrades or trade very short-term.
Happy Trading, Ashif
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