Dream Journey from $ 200 to $ 20000

Hi saji oommen

All are nice as far as you are comfortable with them.
Specificaly if you are looking for a more volatile pair, the GBP/USD is the most volatile amongst the majors , and my preference goes for it.
EUR/USD & USD/CHF are having inversde releation ship.
USD/JPY is less volatile amongst these generally.


As far as day trading is concerned , each pair is good , and most of them do move as per tecnicals . Only beware of data release timings when the mkt goes wild.
And as i can see you are senior over here in traderjji, i beleive you know the day trding rules, so

HAppy Trading and Good Luck.

Current A/c bal is 389$ .

Hi

Great thread..keep it going inspite of some nit-pricking that people do. And show us what you are doing in whatever fashion you are comfortable with...the point is to learn from each others experience and knowledge !!!!

Two of the links you gave for shared files (video etc) are no more available on the site.. so if you could please post them again, I will appreciate.

Thanks

Hi Rajib
I just came to know from my trader friends that Reliance has started offering Forex and CFD trading to Indian clients.
They have tied up with some very big off-shore company called CMC. They are offering Forex, Equity, Commodities, Indices- all global from the same platform.
Just what we wished for- an Indian conglomerate finally offering it to Indians! Now we dont have to trade with fear that the company would run away with our funds!!!
Rohit

Would appreciate comments from some0ne who has used this (Reliance) site for Fx trading

Hi Rohit

I am new to the site. Really nice to hear reliance is coming in. But i thot only banks could be forex authorised dealers, Reliance is coming in as what? Also what site can i use to trade thru them?

Thanks... Nikki.

Hi

CMC plc is not big i think and their platform is not good too.Also reliance is just IB to cmc nothing else and by no means it increase or provides additional security to our funds we deposit with CMC either through reliance as their customer or directly to CMC

Hello Friends
I am back again.
I had been away from trading due to some personal engagments and was not able to be online to trade for some weeks.
Latest update about the a/c is , 310 $ bal.
The last trade i did on 3Td jan was a loser .
After that i was not trading till today. Had been away for a while with family on vacation and now i shall be back in to business may be from tomoro or day after.
I thank you all the members to keep live intrest in my thread and also to all those who cared to post about my where abouts in my yahoo messanger and in pms.

Theres No Room for Emotions in Forex Trading


Go with your gut.

When it comes to forex trading, thats a trading strategy that is bound to lose you money unless your gut is highly trained and impervious to emotion. The trick to making money in the currency exchange market is to avoid making emotional decisions and follow a carefully thought out strategy that takes the current market and history into account.

Forex trading is a highly volatile market. Emotions tend to run high and low and either of those extremes can influence your trading decisions, unless you have a strategy planned in advance, and stick to it, no matter what you THINK youre seeing at the moment. The keys to success in Forex are system, analysis and perseverance. Note that emotion is not one of them. Going with your gut is a losing proposition in forex trading.

Letting your emotions rule your decisions can hurt your trading in several different ways. Its the reason that most experienced traders tell novice traders that they need to develop a system and stick to it no matter what. The system tells you when to buy, what to buy, when to trade and what to trade for. By sticking to your system even when you want to fly in the face of accumulated data, youll maximize your profits.

A system based on technical analysis of historical market trends is one of the most potent tools that you can utilize if youre just getting started in forex trading and many traders with years of experience continue to use their system to keep the profits rolling in. In fact, many will tell you that when their gut instinct and their system collide, the system is almost always right.

The third key is perseverance. Analysis of trends in the market will show you that the market moves in dips and spurts within overall patterns that are predictable. No trend moves smoothly in an up or down line there are inevitable periods of time when values suddenly spiral up or down based on some outside factor. These are the times when emotion can hurt your portfolio. When a currency that youre holding takes a sudden dip south, its tempting to succumb to panic trading, cut your losses and run even if your system tells you to hold on. On the other hand, its easy to catch the rising excitement as a trade starts increasing in value and scramble to buy more of the same. These are exactly the times to rely most heavily on your trading system. It will tell you exactly when to trade for maximum profit.

Using a mechanical system takes the emotion out of your trading, eliminating one of the key factors that people fail. Your system doesnt get stubborn about proving a theory. It isnt swayed by bad news, or elated by good news. It doesnt hold onto a bad trade hoping against hope that if it just holds on long enough, the trend will turn around and become a moneymaker.

To be effective, your system whether you develop your own or adopt one created by someone else should identify the entry point of your trade, the exit point of your trade, mitigating factors, and an exit strategy. In laymens terms that means:

- Under what conditions should I acquire a currency?

For instance, you may have a buy order for when a particular currency drops more than 5 pips because your analysis tells you that thats likely to be as low as it goes.

- Under what conditions should I trade that currency for another and which one?

There are two reasons to exit to maximize your profit, or minimize your loss. That means you have a set stop-loss order and a set take-profit order at which point to cash out your trade.

- What factors will I allow to change that decision?

If youre not careful, this is where emotion will sour deals for you. While the money market moves in predictable patterns, there are always individual variations of a trend within those patterns. If youve taken those variations into account, it will be far easier to decide when a factor really does make a difference, and when its just wishful thinking.

- How will I trade out of a currency?

Your exit strategy may be as simple as a stop-loss order when my loss hits 5% or a take-profit order when Ill make 40% profit.

By employing a system to tell you when to get in, out or stick, youll minimize the impact of your emotions on your trading and maximize your proft.

Sorry for the late reply.
If you are still intrested in those video files Im me at pricelessfx on yahoo meddanger, i will transfer those files to you there.