Does anyone else here invest in Forex or do any other daytrading / investment?
By DrPipper
@DrPipper (11)
United States
January 22, 2007 6:38pm CST
Hi MyLot community!
Does anyone want to talk about daytrading or longer term investment ideas?
I have been researching and trading currencies for about a year now and am always on the lookout to expand my knowledge and connect with new traders. This seems like a great place to do it, since we can get paid to talk about getting paid :-)
I'll start with an easy one. The 5-13-62 by Rob Booker. See www.RobBooker.com for more info. This is freely available, so I don't think there is any copyright infringement.
Set up 3 Moving averages on your charts, one set to 5, one to 13 and one to 62. wait for the MAs to cross and then for price to retrace towards the 62. One it breaks resistance, get in and follow it on up!
Obvoiusly, MAs are lagging, but you can usually catch a good trend or two per month with this one, only trading the majors.
Any other ideas?
2 responses
@egisugiri (842)
• Indonesia
23 Jan 07
Dont forget stochastic and parabolic, and economic news like nonfarm payroll, CPI, Interest Rate decision, etc. Sometimes when economic news come, technical seems not working. I'm only trading GBP/USD. That's my favorit currency. Sorry for my bad english. I'm only want to share with you not to teach you about this. Peace. Good Luck and god bless you
1 person likes this
@DrPipper (11)
• United States
23 Jan 07
Thanks for sharing :-)
I've never been too big on stochs, but I do like parabolic SAR. I mainly trade E/U due to the spread, but sometimes I do venture over to G/U for the volatility.
I'm not so much looking to be taught, but if you ever want to chat, holler at me :-)
DrPipper
@gbengatel (3)
• Nigeria
26 Jan 07
what moving average are you talking abouat, it the EMA or WMA pls i dont really know how to work this out and on waht time of the chat
