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Forex Trading - Season 13 - Business (331) - Nairaland

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Re: Forex Trading - Season 13 by Nobody: 2:21pm On Jun 07, 2013
Pipsland78:
Sorry about this but I think it's your fault and these are why:
1) You chose a broker that does not have a good review. Why would you go for such a broker?
2) You went against the first rule of forex trading which says to only trade with money you can afford to lose.
3) For the account to be blown then you must have risked too much which surprises me because you even advised Ogboraph not to risk more than 3% of his equity.
The niggur na hypocrite( with all due respect), he can write advice full big book like dictionary but E own worse pass. lipsrsealed
Re: Forex Trading - Season 13 by NonFarmPayrol: 2:21pm On Jun 07, 2013
OliverPin: INSTA Forex has adjusted their charts. THIEF OLEEEEEEEE grin grin grin grin grin LWKMD...

i left them, using 3 brokers for now
FXCM
XE and EXNESS(sharp pocket money)
Re: Forex Trading - Season 13 by XHTML: 2:24pm On Jun 07, 2013
Come on, XAU/USD. Let's hit 3000pips. smiley

OliverPin: they can cheat ehn. almost all usd pairs get K leg grin bros abeg reply me. yahoo kiss

My bad experiences with instaforex will prolly fill up pages and pages. Hence when people argue that there's no such thing as broker manipulation (esp. with Market Makers), I simply smile and let it go. Finding a reputable broker is not easy.
Re: Forex Trading - Season 13 by Nobody: 2:25pm On Jun 07, 2013
Non Farm Payrol:

i left them, using 3 brokers for now
FXCM
XE and EXNESS(sharp pocket money)
Very good o. i had a chat with customer care of XEM, the reQuirements would cost me, no much money for now but i go wait, i no even trust that forextime even though i can afford to start trading with them now. The risk in this business is very BIG.
Re: Forex Trading - Season 13 by Nobody: 2:29pm On Jun 07, 2013
Any I added more fund to the account which makes it worst. It was 5 micro lots... as the last i checked, It was in profit of 35$ because i trade support/resistance there is one indy i used. Trouble started when i wanted to close before 1:00pm requoteeeeeeeeeeeeeeeeeeeeeeeeeeee and bye passed my stop. what an evil world

Oh so sad the EJ would have net me 75$ by now today look at the price now
Re: Forex Trading - Season 13 by WinningEdge: 2:32pm On Jun 07, 2013
OliverPin: @winningedge sire what are the charges for depositing or withdrawing via mastercard?
they don`t charge anything,they even pay you back any charge for cc transfer.
withdrawal cost $1 but it's not their fee but processing gateway (it's a fixed fee regardless what amount) and $5 if the amount exceed the initial transfer amount except your bank in Nigeria has any charge for such transaction.

make your own review from the site below:
<a href='https://secure.mayzus.com/go.php?uid=13421039962064'>Click here</a> to start earning money on Forex!
Re: Forex Trading - Season 13 by XHTML: 2:34pm On Jun 07, 2013
learner1: Any I added more fund to the account which makes it worst. It was 5 micro lots... as the last i checked, It was in profit of 35$ because i trade support/resistance there is one indy i used. Trouble started when i wanted to close before 1:00pm requoteeeeeeeeeeeeeeeeeeeeeeeeeeee and bye passed my stop. what an evil world

Let me get something, you mean, you were in profit, $35, and you got requotes on trying to close until price was down 70pips (correct me if I'm wrong) against you?

Too cruel if true. Although well, during news releases you can expect to see all manner of things with some brokers.
Re: Forex Trading - Season 13 by fxisreal: 2:34pm On Jun 07, 2013
OliverPin: Very good o. i had a chat with customer care of XEM, the reQuirements would cost me, no much money for now but i go wait, i no even trust that forextime even though i can afford to start trading with them now. The risk in this business is very BIG.

why do u still want to trade with this broker again
Re: Forex Trading - Season 13 by Nobody: 2:35pm On Jun 07, 2013
XHTML: Come on, XAU/USD. Let's hit 3000pips. smiley



My bad experiences with instaforex will prolly fill up pages and pages. Hence when people argue that there's no such thing as broker manipulation (esp. with Market Makers), I simply smile and let it go. Finding a reputable broker is not easy.

true o. what broker do you trade with? if i may ask
Re: Forex Trading - Season 13 by Nobody: 2:38pm On Jun 07, 2013
fxisreal:

why do u still want to trade with this broker again
am sure you defined my statement wrongly. am not trading with them sire.
Re: Forex Trading - Season 13 by Nobody: 2:41pm On Jun 07, 2013
XHTML:

Let me get something, you mean, you were in profit, $35, and you got requotes on trying to close until price was down 70pips (correct me if I'm wrong) against you? Which pair was this?
EJ sir I sold am just hating this business now am not sure is for me. look at ej now. let me close my sell in profits and join buy for 100 pip more no way
Re: Forex Trading - Season 13 by fxisreal: 2:42pm On Jun 07, 2013
OliverPin: am sure you defined my statement wrongly. am not trading with them sire.

better
Re: Forex Trading - Season 13 by XHTML: 2:51pm On Jun 07, 2013
OliverPin: true o. what broker do you trade with? if i may ask

FxPro.

One of the things I like about Fxpro is I can have access to three platforms (sub accounts) all in one Fxpro account . They have a sort of "vault" system. so when you fund your FxPro vault, you can push funds to either your ECN Account with them, or your regular MT4 account with them, and for people like me who like to mess with trading algorithims/EA's once in a while, the cAlgo account. You can basically rotate your funds between each account platform anytime and anyhow you want ( the ECN platform has a minimum cash requirement of $1000 though).

It's that flexibility, I love. During periods of high volatility (think news releases for e.g) I move all my quota to the ECN platform so there's no "conflict of interest" or the likes. wink

But then I'm yet to spot any 'major manipulations' on their MT4 platform - I'm not calling them a saint either.
Re: Forex Trading - Season 13 by XHTML: 2:56pm On Jun 07, 2013
learner1:
EJ sir I sold am just hating this business now am not sure is for me. look at ej now. let me close my sell in profits and join buy for 100 pip more no way

I'm surprised. I presumed forextime had links to Alpari so they'd be decent (because Alpari Uk is a good broker). Apparently it appears it's run by the former management of Alpari cypus (lots of bad reports about alpari cyprus for a whole bunch of wrong-doings before they finally shut down operations).
Re: Forex Trading - Season 13 by Nobody: 2:57pm On Jun 07, 2013
learner1:
EJ sir I sold am just hating this business now am not sure is for me. look at ej now. let me close my sell in profits and join buy for 100 pip more no way
Ok i also feel bad for you but may i remind you, you said you would trade only gold once or twice a week, and i can remember your account balance then was 150$. Ok I guess gold blew it all for you abi? you also said one profitable trade a week is ok for you on gold. what where you doing with ej? you were on 35$ profit. thats like 0.5lot size. thats very big for an acct that i guess wouldnt be up to 50$ yet you advice people like professor forex... mr Learner please learn before you teach.
Re: Forex Trading - Season 13 by fxisreal: 2:58pm On Jun 07, 2013
XHTML:

FxPro (and dukascopy).

One of the things I like about Fxpro is I can have access to three platforms (sub accounts) all in one Fxpro account . They have a sort of "vault" system. so when you fund your FxPro vault, you can push funds to either your ECN Account with them, or your regular MT4 account with them, and for people like me who like to mess with trading algorithims/EA's once in a while, the cAlgo account. You can basically rotate your funds between each account platform anytime and anyhow you want ( the ECN platform has a minimum cash requirement of $1000 though).

It's that flexibility, I love. During periods of high volatility (think news releases for e.g) I move all my quota to the ECN platform so there's no "conflict of interest" or the likes. wink

But then I'm yet to spot any 'major manipulations' on their MT4 platform - I'm not calling them a saint either.

plus you can be in South African where u stay to trade and request for ur withdrawn to be credited to your Nigeria dom account. sofar is the same name as the one with them.
Re: Forex Trading - Season 13 by kcc515(m): 3:01pm On Jun 07, 2013
McNelson: No, u dont need to have an account with them. Infact, u get the card within 15 min. just go with an govt issued id card and passport

oh, thats cool and really easy!
Re: Forex Trading - Season 13 by Nobody: 3:01pm On Jun 07, 2013
Abeg forex don tire me make i go console my self and find another business to do. The cheat too much I suffered before I funded that account emergency fund inclusive there and one broker just destroy everything with requotes and fraud. God will surely destroy them for requoting me and not allowing me close my profits. Struggle continues. Am off finally this time this business not easy. my system works 90% of d time but even if i must come back to forex it must be with a reputable broker.

If there is no reputable broker then at least 95% mark is ok but i don't see how getting 1000$ to sign up with such come soon.

@Ogboraph[/b]I sent you a message by user learner443 so it is truely from me and not scam. Saying this cos this might be my last visit here. them don make the biz tire me.


At all, please recommend for me the perfect offline biz to make steady income. I hate being a job seeker. thanks
Re: Forex Trading - Season 13 by XHTML: 3:12pm On Jun 07, 2013
Exited my Gold position with 3000pips (at 1381.88). The bearish steam seems to be running out. Watching for a buy entry opportunity. Although price could possibly test the 1380.xx support region for a second time.
Re: Forex Trading - Season 13 by infofirst(m): 3:26pm On Jun 07, 2013
learner1: Abeg forex don tire me make i go....................

At all, please recommend for me the perfect offline biz to make steady income. I hate being a job seeker. thanks

grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin laugh no go kill me n and my one cent to u is dat u shd be sincere with your self.Critize urself sincerely n if u dont do the right tin n then u r bound to commit same mistakes elsewhere.
Re: Forex Trading - Season 13 by XHTML: 3:31pm On Jun 07, 2013
I was a bit late on the Nasdaq 100 E-mini futures, but I got an buy order in (2956.07) at the break of the previous resistance.

Price should be testing the 2978.25 resistance. Price currently at 2972.50.
Re: Forex Trading - Season 13 by kcc515(m): 3:34pm On Jun 07, 2013
OliverPin: The niggur na hypocrite( with all due respect), he can write advice full big book like dictionary but E own worse pass. lipsrsealed

OliverPin: Ok i also feel bad for you but may i remind you, you said you would trade only gold once or twice a week, and i can remember your account balance then was 150$. Ok I guess gold blew it all for you abi? you also said one profitable trade a week is ok for you on gold. what where you doing with ej? you were on 35$ profit. thats like 0.5lot size. thats very big for an acct that i guess wouldnt be up to 50$ yet you advice people like professor forex... mr Learner please learn before you teach.

lol, You've said it all. sometimes I laugh when I see his post, dude will say one thing today, another tomorrow, Instead of watching and learning, he turned himself to Nial Fuller. I watch this thread everyday, with the sole purpose of learning, not to come and teach, even a non-forex book that Paris fran suggested weeks ago; 'Outliers: The story of success' by Malcolm Gladwell, I've read it. If he stuck to the rules he wouldn't have been burnt. I'm moving to another broker too, but still trading my Forextime account till I have something handy to transfer, I've banked 100pips today already, My account has been growing steadily since my April drawdown. I have more than trippled what I had when I told you guys my story... Forex is getting simpler to me each day, just learn to be STABLE!

1 Like

Re: Forex Trading - Season 13 by fxisreal: 3:36pm On Jun 07, 2013
learner1: Abeg forex don tire me make i go console my self and find another business to do. The cheat too much I suffered before I funded that account emergency fund inclusive there and one broker just destroy everything with requotes and fraud. God will surely destroy them for requoting me and not allowing me close my profits. Struggle continues. Am off finally this time this business not easy. my system works 90% of d time but even if i must come back to forex it must be with a reputable broker.
If there is no reputable broker then at least 95% mark is ok but i don't see how getting 1000$ to sign up with such come soon.
@Ogboraph[/b]I sent you a message by user learner443 so it is truely from me and not scam. Saying this cos this might be my last visit here. them don make the biz tire me.
At all, please recommend for me the perfect offline biz to make steady income. I hate being a job seeker. thanks

you are not ready to do this business because i see you not stable on getting what you want, you are the one that saw gold & ej as the best pair to trade when other non-volitle pair is there.
what lot did you trade to have profit of $35 with your $12 deposit 3days ago? you need to get many things right before you can think of success in this business. that was the reason i advice you on the other threads because i see u having a capital problem desperate to get 1 and this will definitely affect your trading apart from bad brokers
Re: Forex Trading - Season 13 by infofirst(m): 3:42pm On Jun 07, 2013
kcc515:
... Forex is getting simpler to me each day, just learn to be STABLE!

..Stable, simple and consistent.

For me, i trade eu today witout even looking at wat d mother of all news NFP brings cos everytin is in my chrt n i closed my 3 eu positions at +81, +80 and +86.

@all, keep looking at ur chrts esp d daily n weekly witout any indicator n u will grab d message.
Re: Forex Trading - Season 13 by NonFarmPayrol: 4:22pm On Jun 07, 2013
fxisreal:

you are not ready to do this business because i see you not stable on getting what you want, you are the one that saw gold & eu as the best pair to trade when other non-volitle pair is there.
what lot did you trade to have profit of $35 with your $12 deposit 3days ago? you need to get many things right before you can think of success in this business. that was the reason i advice you on the other threads because i see u having a capital problem desperate to get 1 and this will definitely affect your trading apart from bad brokers

he might just the dictator another reason to headline us undecided undecided
FOREX TRADER LOOSES 12$ IN 3 DAYS undecided undecided


Forex as they say is not for everyone, there are people i show daily how to make pips simply, but they still go in search of the holygrail, in the end they never find it and they give up.

to me forex below 100$ is practise, and forex below 1000$ is not business - its passive income and till you become a full time trader, you might never take forex seriously, my next meal comes courtesy of trading, so i treat it as a business
Re: Forex Trading - Season 13 by XHTML: 4:24pm On Jun 07, 2013
@kcc515 Nial is one trader I respect. He knows his onions when it comes to price action trading.

You hit the nail on the head with your post. Consistency is key in trading. No use making one winning trade. followed by two losses.

Personally, I like to keep things simple. I don't have to make 100trades a week. If I peek at a chart and I don't understand what's going on in that market at that moment, I'm out of there. No assumptions, No "maybe".

I've seen a couple traders who open positions and if you ask them "why?", they can't give an answer. Not even one reason.

Everything is in the charts as infofirst rightly said. You goal is to take all that data, analyse it and forecast where price would be in the next 5mins, 30mins, 1hr and so on - simple as that. No special way to trade gold or oil or futures or currencies but the same candesticks chart (unless of course you use line/bar charts). And there are tons of tools, indicators that provide guides.

The first and basic skill every trader needs is understanding the charts, without that, you're almost like a blind man trying to put a thread through a needle. Hence the emphasis on practicing on a demo account till you're a bit proficient.

And quit opening $100,000 demo accounts unless you plan to start live trading with that amount. Use an amount you plan to start live trading with, if possible. That way you'll build up both your trading and money management skills.
Re: Forex Trading - Season 13 by Nobody: 4:31pm On Jun 07, 2013
HOW MANY PEOPLE TOOK ME SERIOUSLY AND MAKE THIS DOLLARS FROM MONDAY TO FRIDAY.I HAVE GOOD FRIENDS HERE. I LIKE YOU ALL, EVEN THOUGH YOU DISRESPECT MY POST AND INSULT ME, I STILL LIKE YOU.
iheanyiebeneze: My long term trade for Monday to Friday is SELL GBPJPY @152.50. TAKE PROFIT IS 148.50. STOP LOSS SHOULD BE PLACED AT 1;2 RRR(RISK REWARD RATION.)COME AND TANK ME BY FRIDAY.7TH JUNE.
Re: Forex Trading - Season 13 by XHTML: 4:37pm On Jun 07, 2013
^ You must've used quite a large stoploss (nothing less than 130pips) to keep that trade all the way from Monday till today.

Great all the same, it paid off.
Re: Forex Trading - Season 13 by IgweOO(m): 4:46pm On Jun 07, 2013
iheanyiebeneze: HOW MANY PEOPLE TOOK ME SERIOUSLY AND MAKE THIS DOLLARS FROM MONDAY TO FRIDAY.I HAVE GOOD FRIENDS HERE. I LIKE YOU ALL, EVEN THOUGH YOU DISRESPECT MY POST AND INSULT ME, I STILL LIKE YOU.

We like you too if not love but bro's eh, try using small letters rather than block letter.
Re: Forex Trading - Season 13 by Nobody: 4:46pm On Jun 07, 2013
Non Farm Payrol:

he might just the dictator another reason to headline us undecided undecided
FOREX TRADER LOOSES 12$ IN 3 DAYS undecided undecided


Forex as they say is not for everyone, there are people i show daily how to make pips simply, but they still go in search of the holygrail, in the end they never find it and they give up.

to me forex below 100$ is practise, and forex below 1000$ is not business - its passive income and till you become a full time trader, you might never take forex seriously, my next meal comes courtesy of trading, so i treat it as a business
Today money lost 7500 naira 2000 + 5500 divided by 160.80. Na my last money go so. Very very painful. My heart still beating fast. Am thinking of how to recover d money now. My head is filled with negative things now afterall they use wicked act to take my money.
Re: Forex Trading - Season 13 by elewedu(m): 4:58pm On Jun 07, 2013
kcc515:



lol, You've said it all. sometimes I laugh when I see his post, dude will say one thing today, another tomorrow, Instead of watching and learning, he turned himself to Nial Fuller. I watch this thread everyday, with the sole purpose of learning, not to come and teach, even a non-forex book that Paris fran suggested weeks ago; 'Outliers: The story of success' by Malcolm Gladwell, I've read it. If he stuck to the rules he wouldn't have been burnt. I'm moving to another broker too, but still trading my Forextime account till I have something handy to transfer, I've banked 100pips today already, My account has been growing steadily since my April drawdown. I have more than trippled what I had when I told you guys my story... Forex is getting simpler to me each day, just learn to be STABLE!
spot on
Re: Forex Trading - Season 13 by perfezione: 5:06pm On Jun 07, 2013
Dear Learner1

We all feel your pain, but i guess you wished it for yourself. Go to babypips and start the school if you've not done that before.

Some reasons why it was your fault

1, Protection of your capital is your number 1 priority, that is why not taking a trade is seen as a trade position in some quarters
2, What percentage of your account did you risk for the trade, anything above 5% as a newbie is just asking for trouble?
3, Did you have a stoploss on the trade? if not then you've broken a major simple rule.
4, Do you see fx trading as a business which requires all the inputs a regular business needs?

Forex trading is simple, but not easy.

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