My tip is based on fundamental analysis.Technical may say otherwise.

I've tried not to meddle in this arguement, but my mind would not allow me. "The fact that the crown does not fit a King cannot stop others from wearing the crown"..When you are determined and persevere in whatever you do, the sky will be your limit. With $1000 accout, the normal lot size is 1pip=$1. You all can bear witness that there are traders that make average of 300pips/week wether good or bad (remember that the Oil traders make average of 700pips/week, here ask Oga Natruetalk). This is equal to 1200pips/month=$1200. When u add ur profit to ur initial capital, u get $2200 after first month of trading out of this u pay urself salary of $500 which even a womanizer in naija cannot consume before the end of the month knowing fully well that he has a target. Tell me, what else do we need to make life out of this biz with the equity? Knowing fully well dat ur lot size increases with increase in ur equity at average of 1200pips/month. Peace.

buy eu at market price

done with alacrity

iheanyiebeneze:
buy eu at market price

benpuzzy:
I've tried not to meddle in this arguement, but my mind would not allow me. "The fact that the crown does not fit a King cannot stop others from wearing the crown"..When you are determined and persevere in whatever you do, the sky will be your limit. With $1000 accout, the normal lot size is 1pip=$1. You all can bear witness that there are traders that make average of 300pips/week wether good or bad (remember that the Oil traders make average of 700pips/week, here ask Oga Natruetalk). This is equal to 1200pips/month=$1200. When u add ur profit to ur initial capital, u get $2200 after first month of trading out of this u pay urself salary of $500 which even a womanizer in naija cannot consume before the end of the month knowing fully well that he has a target. Tell me, what else do we need to make life out of this biz with the equity? Knowing fully well dat ur lot size increases with increase in ur equity at average of 1200pips/month. Peace.

.shouldn't that be 10cents cos u re using a dollar, 100pips=10%......i am still a newbie/just asking..thanks

dukum:
.shouldn't that be 10cents cos u re using a dollar, 100pips=10%......i am still a newbie/just asking..thanks

d first thing u need to know is ur lot size which is calculated thus equity/1000. Once that is done u defined ur risk for any trade which should not exceed 3% and as a newbie u are expected to run away from pairs called "d vampires" and concentrate on low volatile pairs. Once u've succeed in building ur account by over 100%, u can now diversify ur trading and u're good to go. The two most important things dat u need to fight are fear and greed. That i'm making over 1000pips in Oil every week should not influence u to jump to Oil when u've not gotten a sound technical know how. U must trust ur winning strategy by been consistance. That u lost two trades at a roll should not not discourage u from taking the third trade which might vomit over 200pips for u. Remember, in forex we don't win everyday but we always come out green at d end of the week. Peace!

Who is selling Oil with me?

benpuzzy:
I've tried not to meddle in this arguement, but my mind would not allow me. "The fact that the crown does not fit a King cannot stop others from wearing the crown"..When you are determined and persevere in whatever you do, the sky will be your limit. With $1000 accout, the normal lot size is 1pip=$1. You all can bear witness that there are traders that make average of 300pips/week wether good or bad (remember that the Oil traders make average of 700pips/week, here ask Oga Natruetalk). This is equal to 1200pips/month=$1200. When u add ur profit to ur initial capital, u get $2200 after first month of trading out of this u pay urself salary of $500 which even a womanizer in naija cannot consume before the end of the month knowing fully well that he has a target. Tell me, what else do we need to make life out of this biz with the equity? Knowing fully well dat ur lot size increases with increase in ur equity at average of 1200pips/month. Peace.

Seriously...

Please what play form is best to start trading Forex

Thanks

Good morning house. This argument dikwa risky. Well to me the only things that matter in this business is the relationship between your win loss ratio and your risk reward ratio. Get em right and ur okay.

Hope we are gearing up for next year? . I also hope that those who have subscribed to the free trading alert starting next year have read the manual and calculated their projected profit for next year? If you haven't I suggest u do.

Download the trading system here

https://www.dropbox.com/sh/0qlpd5sonkuh72g/AAAQxNc44sH1Kz_1PspMj6BSa?dl=0

Mr badruf thanks 4 d link. I thought it was mr sojmann dat responded. Thanks once more.

benpuzzy:
Who is selling Oil with me?

Flipped to Buy since the sell could not hold water

12ema:
FOR THE NEWBIES:

As we navigate into the new year, take this time to take stock of your trading in the past year. I will try to enlighten you on some of the things you need to focus on in order to survive in this business for the coming year. Note that i said survive instead of "make it" or "be rich". For the relatively new traders, your venture into this business is all about survival. How do go through 2015 without blowing your account and calling your broker to fund it again? Here we go;

1. To make forex a sole source of income you need serious capital. Anything less than $100,000 and you are risking emotional turmoils which would lead you into failure. With $100,000 you can maybe rake out a constant and sustainable monthly income. Now, not everyone has that kind of money so you have to build it which takes time. This brings me to my next point.

2. Focus on another source of income. Since building a large account takes time, you need something else to cushion your financial needs and to take away the need to dip into your trading account or try to pressure yourself into making outrageous bets when trading. Relying solely on your trading with a small account is suicidal.

3. Focus less about systems and more on money management. The truth about trading is not about looking for a constant winning strategy, but about looking for the most efficient way to manage your money. I personally know traders who trade with systems that generate 3 wins out of ten and sometimes even 2 but these guys are multimillionaires. How does that happen? They don't care about systems they care more about risk exposure and eliminating that exposure as quickly as possible. A trading strategy simply means an edge, pattern, or a constant that occurs occasionally in the market or on your chart that can be exploited. A pattern happens on occasion, you don't know why when and how, but it happens. All you are doing as a trader is managing your capital to exploit this opportunity. Another way to think of it is statistics and probability.

4. Your primary focus as a trader is to eliminate risk as soon as possible on any trade. So, with a $1,000 account risking 3% will expose you to $30 as risk. There is no guarantee that your first ten trades will be successful so if you lose ten times you lose $300, think about that. Risking more shortens your lifespan as a trader. Might as well go to Vegas and gamble. The larger your account becomes the quicker you reduce your exposure. The sooner you bring it down to 1% the better.

5. Use a strategy you believe in and fits you as a person. Don't go using a winning strategy that Mr A uses if it doesn't fit you psychologically. A patient person cannot scalp. A impatient person cannot trend trade long term. A trader who has a 9 to 5 job should not use a strategy which requires him to check his charts constantly. Because it worked for Mr A does not mean it will work for you.

6. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. 'nuff said.

7. Never ever borrow or sell anything to raise capital. Never trade with what you can't afford to lose. (from experience).

8. Never ever forecast the market or believe you know where price is going. It will shock you every time.

9. Have a vulcan mentality or be like Mr Spock. You win you win; and you lose you lose. No emotions. Winning 300 pips today without controlled emotions could mean losing 400 pips tomorrow.

10. Read this write-up again and again until you get bored.

May God really bless u. I sweàr if I had read dz post a few years back, my story would have been different. Please & please, can u talk more about "risk exposure and eliminating that exposure as quickly as possible".
God bless.

benpuzzy:


Flipped to Buy since the sell could not hold water

the sell may hold though mkt is not clear

so if u av $1000 in ur act, u'll trade $1 per pip. oga, u shdn't mislead pple, if d trade moves 500 pips against u, den u'r 50% down.

benpuzzy:
"The fact that the crown does not fit a King cannot stop others from wearing the crown"..When you are determined and persevere in whatever you do, the sky will be your limit. With $1000 accout, the normal lot size is 1pip=$1. You all can bear witness that there are traders that make average of 300pips/week wether good or bad (remember that the Oil traders make average of 700pips/week, here ask Oga Natruetalk). This is equal to 1200pips/month=$1200. When u add ur profit to ur initial capital, u get $2200 after first month of trading out of this u pay urself salary of $500 which even a womanizer in naija cannot consume before the end of the month knowing fully well that he has a target. Tell me, what else do we need to make life out of this biz with the equity?

omejeo:
the sell may hold though mkt is not clear

jump out sharply, thanks for the caution.

Edd1e:
so if u av $1000 in ur act, u'll trade $1 per pip. oga, u shdn't mislead pple, if d trade moves 500 pips against u, den u'r 50% down.

what works for me may not work for u. What is the essence of trading forex when you will go 4 a trade dat will move 500pips against u? What happened to ur sense of risk exposure. Besides my analysis is not for people like u but for people that have succesfully crossed the seven sea of forex. PEACE!

Kirinwa:
Let me give my trade tip.

GA and GN are most likely going to be bullish. As for GJ. Pls stay away from it. Kirinwa has spoken.

The volume is still low, you musnt trade this week but if you want to, refer to my hint.

Good luck.

well... i dunno about ga and gj but GN looks bearish probaby 1.96....ur trade call lastweek brought it to my attention...did my analysis and went bearish last week...


happy trading....

wow the house is getting interesting. more gist please

Edd1e:
so if u av $1000 in ur act, u'll trade $1 per pip. oga, u shdn't mislead pple, if d trade moves 500 pips against u, den u'r 50% down.

Some basic questions to ask yourself before u start trading everyday is this(that's if ur an intra day trader like me).

1. What is my daily risk allocation(DRA) for today? :
This refers to how many pips loss you are ready to take for that day. Like poker game you must bring something to the table daily and if you exhaust it you close trading for the day.

2. What % exposure do i want my account to have based on the DRA and what is the dollar value. If for example you want 10% exposure and ur DRA is 100 pips on a $1000 equity then the dollar value is $100.

3.What will be my average stoploss per trade? This is self explanatory.

4. Using a Pip to a dollar as a basis of calculation and based on my stoploss how many trades will my DRA allow me to hold at once? To get this divide ur DRA by ur stoploss. If ur average stoploss per trade is 25 pips per trade that means u can hold 4 different positions on different pairs at once and still trade within ur DRA or risk ceiling.
If ur average stoploss is 50 pips per trade that means you can only hold two trades.

5.Will my profits(pips) in the course of today's trading be acceded to today's DRA? Your prerogative. I personally suggest it not be. Sick to ur plan until the end of the trading day. (my trading say starts by 6am and ends by 4pm, urs may differ.

So in summary a good day is when you come out to trade and close the day greater than ur starting DRA. It could be double, triple of ur initial DRA.

I hope this is comprehensive enough? My 2 cents. All these calculations shouldn't take 5 minutes.

morning house.

please has anyone ever collected the Xm master card ?? and have you used it here in Nigeria?

I'll really appreciate matured answers. thanks.

benpuzzy:
what works for me may not work for u. What is the essence of trading forex when you will go 4 a trade dat will move 500pips against u? What happened to ur sense of risk exposure. Besides my analysis is not for people like u but for people that have succesfully crossed the seven sea of forex. PEACE!

hmm funny! u don't knw me nd u dnt't hw i trade nd i'm nt here to argue wid u. m just saying no mata hw much u analyse, u shdn't risk dt much unless u'r scalpin nd even if u r, u shdn't write; trade $1/pip on a $1000 acnt outrightly, sum newbies might folow suit nd blow deir acnt. nd next time, dnt act lyk u knw all..

FOREXMARTS:


Some basic questions to ask yourself before u start trading everyday is this(that's if ur an intra day trader like me).

1. What is my daily risk allocation(DRA) for today? :
This refers to how many pips loss you are ready to take for that day. Like poker game you must bring something to the table daily and if you exhaust it you close trading for the day.

2. What % exposure do i want my account to have based on the DRA and what is the dollar value. If for example you want 10% exposure and ur DRA is 100 pips on a $1000 equity then the dollar value is $100.

3.What will be my average stoploss per trade? This is self explanatory.

4. Using a Pip to a dollar as a basis of calculation and based on my stoploss how many trades will my DRA allow me to hold at once? To get this divide ur DRA by ur stoploss. If ur average stoploss per trade is 25 pips per trade that means u can hold 4 different positions on different pairs at once and still trade within ur DRA or risk ceiling.
If ur average stoploss is 50 pips per trade that means you can only hold two trades.

5.Will my profits(pips) in the course of today's trading be acceded to today's DRA? Your prerogative. I personally suggest it not be. Sick to ur plan until the end of the trading day. (my trading say starts by 6am and ends by 4pm, urs may differ.

So in summary a good day is when you come out to trade and close the day greater ur DRA. It could be double, triple of ur initial DRA.

I hope this is comprehensive enough? My 2 cents. All these calculations shouldn't take 5 minutes.

Oga, thanks for this comprehensive explanation cos i'm a bad tutor. Some people think that forex trading all about buying when u see a bullish candle and selling when u see a bearish candle. What u explained above takes 80% of forex trading while clicking ur mouse and others takes the remaining 20%. For example, i don't go for a trade that will make me expose above 30pips as stoploss that is why i don't trade Gold and Oil initially and as well don't follow some of Kirinwa's trade calls because of the spread and the funniest part of the whole thing is that i still meet my weekly target apart. The koko is, "plan ur trade and trade ur plan".

changes1:
morning house.

please has anyone ever collected the Xm master card ?? and have you used it here in Nigeria?

I'll really appreciate matured answers. thanks.

contact Rozayx5 cos he has collected his, he will educate u more.

Edd1e:

hmm funny! u don't knw me nd u dnt't hw i trade nd i'm nt here to argue wid u. m just saying no mata hw much u analyse, u shdn't risk dt much unless u'r scalpin nd even if u r, u shdn't write; trade $1/pip on a $1000 acnt outrightly, sum newbies might folow suit nd blow deir acnt. nd next time, dnt act lyk u knw all..

Oga i know u to well and that is why i'm responding to all ur comments because i want to learn more from u beside, i'm an intraday trader and don't go for trade that will make me expose above 30pips as stoploss while my lot sizes increases in relation to my equity. Remember it is how u make ur bed u'll lie on it. What is required in dis biz is discipline Shikena.

sold oil

FOREXMARTS:


Some basic questions to ask yourself before u start trading everyday is this(that's if ur an intra day trader like me).

1. What is my daily risk allocation(DRA) for today? :
This refers to how many pips loss you are ready to take for that day. Like poker game you must bring something to the table daily and if you exhaust it you close trading for the day.

2. What % exposure do i want my account to have based on the DRA and what is the dollar value. If for example you want 10% exposure and ur DRA is 100 pips on a $1000 equity then the dollar value is $100.

3.What will be my average stoploss per trade? This is self explanatory.

bliv me, i knw all abt these calculatns, risk exposure, RRR, MM, i'v bn tradin 4 a while now, bt stil we shd b aware dt d market behaves funny at times despite our projectns nd analysis.

nice contributn anyway.

omejeo:
sold oil

welcome onboard, lets join force and push it down, mean while, 54.50 is my eyeing zone to jump out.

Some of una wan dry this market, una no dey close for the year? lol

honeric01:
Some of una wan dry this market, una no dey close for the year? lol

Oga na wetin loneliness dey cause, all my neighbors don travel 4 xmas.

benpuzzy:
Oga i know u to well and that is why i'm responding to all ur comments because i want to learn more from u beside, i'm an intraday trader and don't go for trade that will make me expose above 30pips as stoploss while my lot sizes increases in relation to my equity. Remember it is how u make ur bed u'll lie on it. What is required in dis biz is discipline Shikena.

well, now i gt u. it's obvious we trade in a very diff way, u knw diff strokes 4 diff folks.. bt, discipline al d way...

omejeo:
sold oil

Boss, what TF do u trade?