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Forex Trading


RobAde

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happy, I've been watching the GBP fairly closely. There is usually at least a 50pip move each night (London hours being the most active in the forex world). Managed to be fairly profitable on the breakouts. Also need to keep a close eye on news releases.

 

I read dailyfx.com for news

forexfactory.com for a news release calendar

and trade with my IG account.

 

Mini forex is cheap to learn on at only $1/pip. And then you can go as high as you like from there.

 

Here's the 15min chart from dailyfx. Yesterday during our day time, it tracked basically sideways. Once London came on board it broke down side for about 40 pips worth. I missed the initial breakout, but still got in for about 10 pips. Then it rallied from there for about 50pips, in a nice steady uptrend. I was on the train on the way home for this move so I missed it, but there are opportunities like this most nights.

 

post-38-1162516860.jpg

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In reply to: happy2 on Friday 03/11/06 11:15pm

I am not sure, but not as great as going long on USD-Yen, if you go long 100,000 contracts, they once paid me $57 rollover interest.

 

What I do, is I go long just before 9:00am each day (cut off time), and pinch hit the rollover interest, then quickly sell at breakeven or better after 9:00am.

 

You'll find that you win quite some risk-free money doing this regularly.

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