Forex Peace Army Education>

[Neil2]

Noob here. Just want to say thanks for the information...and writing at a level yours truly can understand. :-)

Is there any way we can get your articles automatically emailed to us?

[noaholuwo]

Good day,
my name is Noah based in the united states. will like to have personal discussions with u based on the forex. from wat i read in your post here, i see that u av prospect in the forex which i will like to share that with you. pls give me an email address i can always be reaching u, mine is noaholuwo@yahoo.com
thanks and God bless


Hi guys,

Thank you Felix for inspiring, and potentially money-making idea. Being in the forex arena I understood your commentary in following way: AUD, CAD and NOK will grow significantly against USD in next 6 months, so if Imake long term BUY AUD/USD and long term SELL on USD/CAD and USD/NOK, I will earn money. Additionally, USD interest rates being as they are, with prospective decrease, I will also earn on interest. Now, I ask anyone reading this what leverage, (or better to say pip value relative to account size) should I use.

Just for the matter of play, on Friday April 25th, at around 12:30 PM NY Time I opened a demo account with 1000 EUR, and did the above (long 34 minilot AUD/USD, short 32 minilot USD/CAD & USD/NOK - 1minilot=1000), practically investing USD into these three currencies, with a third of investment into each one. I deliberately used so high leverage in order to see effects more drastically (still looking for rule of the thumb there, guys .

Until the end of the trading day (and the end of the week since it was friday) the account went down from 1000 to bellow 700 and then recovered a little bit to 850 where it stood the whole weekend.

This morning (as I write it is 5:20 AM NY time) the account went above 1000 and currently is 1200 EUR and rising.

OK, it is only two active trading days, ok I still do not know the answer about the appropriate leverage to survive temporal drops (which are not that likely, since we have 3 currencies, they can happen significantly only when USD gets bullish), BUT:
apart of my personal affection to many Felix's ideas, if the EverBank is doing this, and pays their clients nickels and dimes out of the profit (but is still courageous enough to promise them a profit), why do not we follow the strategy? Using also Felix's arguments, does it not make sense?

Leverage guys, think of leverage and money management and post me some answer! All the best and a lot of success to all of you.[/quote]

[espdan]

Felix said it was pick to protect your money so maybe our leverage should be 1:1. That is, no margin call risk.

But you know, not all you own is in your broker's account. So the new ratio needed in order to protect your US dollars is 'broker account:all your dollars'.

But if you're looking at it as a money-making opportunity maybe you're going to find interesting the process I followed:

First of all, I'm eurozoner but using mbtrading so my broker's account is in US Dollars. In order to protect it, I'm long EUR/USD 1:1 long term.

But then I recieved Felix's e-mail that suggests 3 more long term trades.

So 4 trades 1:1 = 1:4
You would be margin out with a 25% USD retracement.
Looking for historic data I couldn't find in a 6 mounth period such a retracement in the current trend.

So I entered the other 3 trades.

If it looks too conservative do the maths for the 2% risk rule.


espdan

[vic80ed]

Very new in forex peace army but i have been trading forex for quiet sometime and generally i;ve been at loss as a matter of fact i only made profit once which i end up loose for the past 16months i have been trading and i have actually quit trading untill a friend said i should use ur strategy but i want u to advice me yourself be4 i go back into this busness
vic edward