StockFetcher Forums · General Discussion · anyone successfully trade Forex?<< >>Post Follow-up
187 posts
msg #43110
Ignore markcrisp
4/21/2006 3:51:25 AM

I get many,many people asking me about trading the FOREX market.

Anyone do this with great profits over a few years? Let me know

6,364 posts
msg #43115
Ignore TheRumpledOne
4/21/2006 3:28:12 PM

I have been trading FOREX for about 8 months.

FOREX is very well behaved... just trade the fibs... no technicals needed.

Of course, I have written lots of indicators for FOREX trading.

622 posts
msg #43123
Ignore luc1grunt
4/21/2006 8:27:24 PM

Any good recommended reading on FOREX trading? I've done some surfing, read some articles.....but could use a good "one source" book to provide the basics.

Avery, your help is always appreciated on the scans, but I have too many questions to begin with. Luc

195 posts
msg #43124
Ignore traderblues
4/22/2006 8:54:04 AM

Also, what are the good FOREX brokers? I've read on another website that Oanda is a good one.

48 posts
msg #43260
Ignore alichambers
4/28/2006 6:34:14 AM

I agree - Forex is well behaved. I've been making the transition from stocks to Forex for the following reasons:

- It trends well
- Low margin requirements
- Very liquid
- Difficult to be manipulated
- It's highly leveraged
- Stocks are prone to unpredictable movements - up and down. Good if you catch them, not so good if not

I live in the UK and the spread betting margin for forex is low. For example, one point of gain in GBP:USD is 0.0001! Betting 3 per point of movement (conservative; you can bet up to 99) can yield some nice returns.

However, this is the main reason I have gone into Forex:

(sorry for shouting there)

The penny dropped recently. Instead of randomly picking stocks that I "thought" may go up or down, I can now run a utility I have written on the Forex to buy and sell according to my strategy and see how much money I make over a period of time. This eliminates a lot of guesswork from the game. If a currency doesn't yield profitable results over 5-10 years, THEN I DITCH IT. Sure - I lose a bit during whipsaws, but I can cut those down with stop losses.

I'm working on a simple moving average entry/exit strategy. Initial tests show a very nice gain. And I'm always 100% in the market - either long or short, depending on the moving average signals.

I'll keep ya'll posted.


PS- TheRumpledOne: Which fib levels do you use?

6,364 posts
msg #43288
Ignore TheRumpledOne
4/28/2006 10:28:15 PM

* FIB levels... standard 23, 38, 50, 61, 77

* It's not betting!

* The Tunnel Method with an ema(34) filter works great! has great execution, no spread, low commission. Beats paying the 3, 4, 5 pip spread on

48 posts
msg #43298
Ignore alichambers
4/29/2006 6:38:45 AM

TheRumpledOne: Thanks

I use spread betting, and this is betting. I don't buy the underlying Forex, but place a bet as to which direction the currency will move. It's only available in the UK and is 100% TAX FREE (it's classed as gambling)! You can also spread bet on stocks which meet the following criterea:

- UK: Market Cap > 50m
- US: Market Cap > $1b

It's much more leveraged than the currency itself, so I prefer it.

How do you use Fib levels - wait for a retracement to a fib level then buy as the price bounces off?

And do you have any details of the Tunnel Method with an ema(34) filter?


195 posts
msg #43300
Ignore traderblues
4/29/2006 9:38:38 AM

TRO - Thanks for the info.

Alex - I found this explanation on the tunnel method:

6,364 posts
msg #43305
Ignore TheRumpledOne
4/29/2006 12:08:23 PM

I posted the tunnel method on this forum and wrote a filter for stocks.

There more on it in my yahoo forum, too.

As far as the fib levels, If the EURO is close to 100% time to sell, if close to 0%, time to buy. I call this strategy THE BIG PICTURE. You must pick a large enough time frame 3 months - 1 year. I look at both.

Right now on the 1 year, the EURUSD crossed above the 61.8% level. That marks the end of the downtrend. If you look at the most recent 1-2-3 bottom, you'll see a very nice bounce... it's like they're giving pips away!!

Also, I have been studying how the price trades vs. the previous day's middle. Ever since the last time the EURUSD crossed the previous day's middle, it hasn't looked back. I noticed AAPL has had a nice 3 day run since it closed above the previous day's middle.


48 posts
msg #43368
Ignore alichambers
4/30/2006 5:31:35 PM

Interesting and thanks.

I'm developing an EOD forex system. When it's backtested I'll post it up.


StockFetcher Forums · General Discussion · anyone successfully trade Forex?<< >>Post Follow-up

*** Disclaimer *** does not endorse or suggest any of the securities which are returned in any of the searches or filters. They are provided purely for informational and research purposes. does not recommend particular securities., Vestyl Software, L.L.C. and involved content providers shall not be liable for any errors or delays in the content, or for any actions taken based on the content.

Copyright 2018 - Vestyl Software L.L.C.Terms of Service | License | Questions or comments? Contact Us
EOD Data sources: DDFPlus & CSI Data Quotes delayed during active market hours. Delay times are at least 15 mins for NASDAQ, 20 mins for NYSE and Amex. Delayed intraday data provided by DDFPlus

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.