Schools out for[ex] summer....June edition

What a move in ChF...i was calling for the mid 112s when we were at 116.....but wow they are killing it

damn i coulda grabbed 50 pips on the EU earlier but now its making its way back to where i started from

I think itll be good tomorrow...who knows we might even get a chance to cut and run tonight with some pips but i think im letting my limit ride at least until i see the open tomorrow

Just a rookie so don't slam me to hard. I opened a practice account to follow you guys for a while. I work all day so I can only do this when I get off.

We arent here to one up each other so dont worry about that Rick...just ask if you have any questions..

Since youre in a practice account i would sell EU/USD...start with 2 lots..

How much is in the account?...you can contact cutomer service and have them set the amount to anything you like so if you think you might open a real account in the future have them set the amount to what you think you can start with ...$2,000 or whatever...

GL

Thanks for the tip.They set my practice account at 50K...I really wanted to run it at 2k like a real mini account. Like to deal with apples to apples so the profits and losses are acurate.

Looks the EU is climbing against the US. At what price should short at?

A few of us are short right here 12370-80s...i think youd be safe right here..they will still set your account to whatever $$$ amount you ask even after its been opened...just let them know

I agree though starting with 50k in a practice account doesnt do you any good as far as learning your limitations margin wise  in a real account unless you plan on starting with that much..with 2k i wouldnt start a position with more than 2 lots

ricks,

buck is correct..you fail to learn about proper margin and account maintenance with a monster account, unless you are planning on depositing that ammt when you go to a cash account.

welcome rick its always good to have another person on here trading. we are all here to help each other, i think of walls and buck as part of my forex team. I learned from them and now can contribute to them so get familar with your practice account and when you have a question ask away. in a month you will have a better understanding of how this all works. just reading over old posts will help you too. thats why we post on here in real time to help others and ourselves. 

Thanks guys everyone. I had to mow .... I had them reset my account to 2k great move I think. I have traded stocks but mainly leave that alone to vanguard 401K plan. I have read charts many many charts and also had a futures account with Mirus futures. Big mistake lost $3500 in one week, man that hurt. I am trying this forex  30 days practice thing, but like I said work takes most of my time. I will tail you guys if you don't mind. Right now just trying to learn your lingo and fine the pairs you guys are trading.Wallstreet, buc and papa thanks

rix open a sell order EUR/USD 1 lot at the current price here 123.95ish  you can place a limit order for 50 or 100 pips. if it moves against you buy another 1lot @ 124.95. basically we keep buying if the price moves against us. 

Where did you open your account Rick?

So has the Forex been closed for two days?

What a total snoozer, especially today.

Buck I opened it at forex.com placed a sell order at 123.85 and a stop limit at 30 pips either side. Account this morning said $2300 so I guess a $300 profit. Is one lot equal to 100k?

No kidding...i dont want to hold this position through the weekend...guess i shouldve jumped out early this morning when it was in the 60s and called it a week??

My MT4 signals just keep giving sell signals for this pair...ill let her ride for now,hopefully something happens

 

This sort of "coiling" usually means an explosion in one direction or the other..to have the sort of trading we did and then just dead range trading for several days, usually the result is a big move in one direction and based on my opinion I have to think it will go higher..barring news to change the landscape.

Thats a bit tight for a stop in this market..contact customer service and make sure they have you trading MINI lots that are 10k not 100k...if youre trading full size lots with 2k youll be in trouble in no time..you want to trade lots at $1 per pip not $10...but yes that means it got you your 30 pip limit

closed EU for about 37 pips i think on 2 positions 6 lots total. 

Closed out GPD/USD for 44 pip gain this morning.

Went home with my EU shrt hope it turns out to be the right move

My brother thinks we headed for 131...

Do you mean 1.31 on the EU?

Based on what?

I have to say that the sentiment seems to be shifting..