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EUR = Fiber AUD = Aussie CHF = Swissie

You ask a good question. If I was ever in a position to hire some traders, then I would look for evidence of discipline and a strategical mind set in order to narrow down the applicant pool. Regards, Deptrai

Hello young man. I was an economics major at Brandeis University, where I was taught by Phds from Harvard and MIT. I have found that there is no college degree that is best for FX. If you want to land a job in FX, then just pick a major that you like. Get a high GPA. Then impress them in...

Chaos, here is the answer to your question. Regulation invites government control. The system was set up so there would be no government control. This system comprised of banks and forex brokers moves around the globe with the sun. Each moneycenter voices its opinion so to speak with the...

Mafia, thank you for sharing. As you all can see, when you work in a currency trading firm like Mafia or are a CTA who has had the privilege to meet other forex traders face to face like Spike500, then you become aware of the odds. Seeing is believing. Mafia, what are they teaching you...

Here is one of Spike500's post. This will enlighten the op and other newbies. As you can see, I am not the only one with experience who knows that forex trading is very difficult. http://elitetrader.com/vb/showthread.php?s=&threadid=54957&perpage=6&pagenumber=11

Only fulltime and only FX. 1,2, and 3. What is important is that the op and other newbies realize that forex is very difficult. Respect the forex market. You are a fisherman and the forex market is the ocean. Never think that you are bigger than the ocean. If you do, then the ocean will...

Don't worry about anyone flaming you. There are very few successful forex traders. Why would 99% fail? I believe that the learning curve in forex trading is steeper than in trading other instruments.

Bought USDCHF at 1.2804 in the Asian market today. Stop now placed at entry.

There are lots of tips. Here is one tip that most forex traders fail to understand. It is not important what YOU think. It is important what the market thinks. So learn to read the market. You will have to work hard. There are no short cuts to success in forex trading. So make sure that...

He was a position trader. Very well capitalized. He would make a couple hundred pips on his profitable trades. I remember that he made 800+ pips on this one USDJPY trade. I had met him at this currency trading firm in San Francisco. From what I've seen only 1% will make it. The rest will...

You are better off trading other instruments. In my 10.5 years, I have only seen 1 really make it. I am not including myself. The rest have all been annihilated.

Demo? No wonder you can sleep at night.

99% of all forex traders will eventually fail.

Long NZDUSD at .7030 from late Friday afternoon. Reason? I love "Lord of the Rings". :D

I never said to buy USDJPY. You have to be careful how you interpret what people say. Let me give you an example from history that applies to forex. This will show the importance of interpreting people correctly. Back in the mid 90s, the U.S. had a strong dollar policy. So when the...

The following books are for those who have 1) an openmind 2) like to think 3) are willing to work hard and 4) would like to learn more about the Elliot Wave theory so they can add it to their arsenal: Fibonacci Applications and Strategies for Traders Elliot Wave Principle Mastering Elliot...

Mafia, why in the world would you want to trade from Ha Noi? It takes years to make it in forex, young man. Keep your ego small. Keep reading. Have an openmind. Listen to the market. Always evaluate your trading. Work hard. And maybe someday you will realize your dream.

I am aware that the trendline was broken today in USDJPY. I see 119.50 as key support.

No. I don't have a position in USDJPY. I do have a position in NZDUSD though. It is OK that you don't have a lot of experience in forex. We all have to start somewhere. :p I remember 10.5 years ago I had joined this currency trading firm after my 24th birthday. How time flies by so fast. :D