General Chit-Chat

[arco]

Xerof

I noticed the tipster who posted the diamond
pattern was getting some negative comments
on the link you gave me.

Apparantly a subscriber who started with him
on 28th March said he was now minus 730 pips
on the paid for recommendations.

arco

[Xerof]

Yes I did note on his website, where he posts results, that he's had a dreadful run lately.

http://www.stormyforex.com/index.aspx

Before that though, he seems to have done quite well.

Must admit I have been pretty flat myself for the past few weeks, but on a bit of a roll currently.

There have been some strange moves post-data releases lately, where markets have moved counterintuitively to the data (at least IMO, and I note the same view has been expressed in some other commentaries)

I haven't followed this guy at all, just monitoring some of the stuff he posts on the forums, but he apparently makes weekly calls which are good for the whole week, without updates etc, so in choppy markets he'll get killed I'd say

Just got back in to the office and see things have developed nicely this afternoon....

regards

Xerof

[Dazza]

im wondering where can i find FREE access to charts etc for FX?
the one on ig markets aint soo good eh..

and does bigcharts have it?

[arco]

Forex lures Japan investors

By Michiyo Nakamoto in Tokyo
Published: 14/11/2007 | Last Updated: 14/11/2007 16:55 London Time

Japanese retail investors are pouring into the yen carry trade despite being battered by the recent sharp rise in the country's currency against the US dollar.
For many individual traders, the yen's surge against the dollar has been a rude awakening to the dangers of forex trading. Stories abound of housewives losing their lifetime savings within days as the yen value of highly leveraged dollar holdings plummeted.
But contrary to expectations, the currency market turmoil has not significantly dented the appetite of Mr and Mrs Watanabe to play the foreign exchange markets.
According to research by Yano Research Institute, the number of foreign exchange margin trading accounts almost doubled last year to 644,802 and is poised to grow another 62 per cent in the year to March, to 1.05m accounts.
Although the survey was published in June, long before the latest yen up-swing, Kazuhiro Shirakura, senior researcher at Yano, said: "The number of accounts has not been affected at all [by the yen's recent rise] and has continued to increase." This was because new forex traders usually began by buying foreign currencies and the strong yen made it a good environment to start trading, he said.
Even traders who had been hurt by the yen's rise had generally taken a long-term view and stayed in the market, said Junichi Katsuno in the financial markets division at Himawari Shoken, which specialises in foreign exchange trading.
"There are many people who take a long-term view and are waiting to buy [dollars]," he said. "There aren't that many people who expect the yen to strengthen that much more."
Retail investors were generally willing to participate in the yen carry trade as long as the yen did not rise above Y105 to the US dollar, Mr Katsuno said.
Individual traders are also becoming more sophisticated in their trading strategy.
Since the summer, instead of taking large positions in one currency, which can lead to huge losses, investors are taking smaller positions and trading frequently and flexibly to minimize any potential losses.
What is more, not all retail traders have lost out in the latest currency turmoil.
One 34-year old housewife who uses the online handle "Forex-loving Mama" to blog about her trading, said she had actually made profits by taking both short and long positions in the more than 20 currency pairs she tracked daily.
The woman, who declined to be identified, said she closed her positions each day before going to bed and was not phased by the latest currency moves that had left many retail investors nursing huge losses.
She also expects other retail traders to stay in the market. "Surprisingly, there aren't many people who say they will quit. I think it's because people remember how good it can be. It's like a gambling addiction," she said.
ΠΗΓΗ: FT.com
Copyright The Financial Times Ltd. All rights reserved.

[Xerof]

This is what I use - open to any better suggestions myself...

http://www.netdania.com/home.asp

Go to chart station, then click [u]try demo now </u>button, and bombs away.

Only snag is you have to set them up each time you go back to the site, unless you keep PC permanently online

Xerof

[arco]

Xerof

quote:Only snag is you have to set them up each time you go back to the site, unless you keep PC permanently online

OK.....this might save you one hellava lot of work.

Forget the funny writing, it makes no difference,
ho here................

http://www.arabonlinebrokers.com/chartsindex.htm

Try the FX Power charts...you can save your chart
set ups, etc.

Have fun

arco

[Xerof]

thanks Arco - its netdania in drag, but I do note you are able to save the charts to a workspace - fantastic, thanks

[Xerof]

Arco,

I read your post on TT re http://www.elliott-wave-software.nl/

Very interesting piece of software - do you have it?

If so, does it handle FX? Looks like it would need a data feed - eSignal perhaps?

For an old hand who hasn't done hands-on EW, could be the 'holy grail'

grateful for any assistance/comments you may have

Xerof

on reflection I guess EOD data would be OK for doing EW, dumped into Excel - I know there are good sites that offer free EOD data

[arco]

Morning Xerof

No I don't have that software.

My E-Waving is limited to the basics.
Mostly the e-wavers cant agree, so
I use my own modified/basic version.
Lets call them arco-waves - LOL.

Maybe perhaps do a search on Elite
to see if there are any comments re the program there.

Also there used to be a free EW programe obtainable
from AlphaOmega....check Google or Elite again
if interested.

Hope thast helps

arco

[arco]

Xerof

I have found the link.........

http://alphomegaew.com/

Let me know how you get on with the
findings on the other program.


TIA
arco