If interested, you can email me at nliang@luc.edu
Well, as I thinking of trading the forex on a daily basis, what time would be the best time to take closing price of a daily bar? Would it be 12 am?
Since you want to hold a currency pair for days, keep in mind that If you hold a spot forex position overnight then you may pay or receive what’s called the rollover fee.
Good luck
I have $100,000 USD sitting in my pocket right now. I think that the EUR/USD price is going to go from .8 to .95. In other words I believe that the value of the dollar will rise against that of the euro, which could also be said that the value of the euro will decrease to that of the dollar. Pretty much what i'm saying is the dollar is going to look better than the euro. But I'm already holding onto 100K USD, how am i going to make money from such a situation? If i convert to eur today, it will give me 80K. I am speculating that in a few days my 100K converted to EUR is going to give me 95K. So how can I benefit from this speculation? What exactly needs to be done, what trade with whom?
Thanks
1) buy euros: $100 * 0.8 gets you €80
2) wait for the dollar to rise to 0.95
3) your €80 are now only worth $84,21
So you lose 16 bucks AND transaction fees.
There are ways to speculate and make a buck if the dollar rises, but the transaction fees will usually be greater. It's one of those unfair situations where only the financial institutions win.
I knew others who had already amassed several hundred thousand by the time the stock boom came along. They were millionaires by the time the 1990s ended.
Ah yes, those were the days. Today it's a lot harder. Stocks don't seem to do much any more. You have to invest in risky emerging countries to see much return. And that chance can evaporate overnight taking your money with it.
When the stock market won't bring you any return, most people turn to real estate. But housing prices have peaked in most cities, meaning you can't just buy a house and sit on it for several years to earn a fat nest egg.
So does that mean we have to give up on ever getting ahead and just learn to be satisfied living the average life our jobs can provide?
Not necessarily. These days you have to think differently to get ahead. For example, you've noticed how manufacturing and jobs are heading out of North America to foreign countries. That's bad news for many workers, but it's GREAT news for some segments of the Foreign Exchange Market.
You see, when we buy products from China, or Japan ships products to England, all kinds of currency has to change hands and be converted. There is BIG money in that process.
FOREX, the foreign exchange market, handles 2 TRILLION in transactions EVERY DAY. That's far more money than what Wall Street handles. Just about anybody can jump in and pull out quite a profit for themselves by participating in the FOREX process.
Does all this sound a bit new to you? Most North Americans have heard very little about FOREX. They've got BILLIONS of dollars sitting in savings accounts and low yield investments that could make them a LOT more money in the Foreign Exchange Industry.
Check out the FreedomRocks free trial at http://www.yourforexinvestor.com
I would also look at http://www.babypips.com
Send me an e-mail and I will be happy to share my P/L spreadsheet with you from the last 500 days. I have gained anywhere from 12-35 % compounded monthly on average for the past 500 days using the FR system.
To Your Success,
Brandon Wells
877-773-5345
http://www.yourforexinvestor.com
Margin trading is trading securities with some of one's own cash together with cash borrowed from a broker. This has the effect of magnifying any profit or loss made on the securities.
The key comes in understanding pivot points, fibonacci retracements, bollinger bands and consumer sentiment (over bought and over sold conditions). You also need to take a careful look at the times of day that the market is normally most active.
20 pips per day is very doable……..the cost is the amount of time you need to spend staring at a computer screen all day. Personally, I retired from technical analysis once I got a firm grasp on the merits of longer term conservative hedge trading.
Good luck.
Paul
Gaminig
Although a currency pair may range for a number of days what you are really looking for is the point at which you can capture a breakout.
The bulk of my client's use a Forex hedging tactic as part of a long term investment strategy.
Good luck in your ventures.
