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Friday 19 September 2008

Day 1 : EURUSD

My first transactions are on EURUSD, which seems to be the most popular pair.

EurUsd The EURUSD pair confirmed a previous support at 1.4100 before an impressive intraday bull run to 1.4380 levels – confirming the 61.80% retracement support at 1.4115 levels from the bullish move started Sept 11. Breaking initial supprt at 1.4250 and settling at the end of day on the 23.60% retracement at 1.4340. Initial support seen at 1.4280, then 1.4180. While upside resistance at 1.4500 which then leads the way for 1.4800 levels – end of August Levels.

I read a few news (see above), USD seems to go up : unfortunately, I've lost 876€ in 1 hour... (between 2 and 3 in the following chart)

eurusd

What do you consider as the best strategy for me : work on quick (<1h transactions) or longer ones ?

More details to come :-(

Dollar grrrr

Thursday 18 September 2008

My Forex teacher

When discussing with a friend on Forex, I discovered that he was already trading on-line too !

He recommends me this useful video : "Hey my friend, let's learn a bit the basics by yourself, we will discuss strategies later..."


Tutorial : Metatrader 4 Basics

So let's go !