No trade signal for me since Friday....

Looking at the reaction around 179.20 for GJ, if it breaks it upward with 50pips, then I will comfortably join the bulls, otherwise, na niger-delta we they go back to

Good morning guys. Are u aware pf this site www.forexpeacearmy.com? Been watching dem for sometime now, seems like a good site for pipers. Lol. Anyone with similar sites should pls post here.

pls am having serious problems crediting my binary.com account, can anybody help out?

Homguy:
pls am having serious problems crediting my binary.com account, can anybody help out?

i use payment agents... etradexchange is Nice try them out

ephisi:
Pls i need to know the most reliable nigerian forex brokers right now, especially after the swiss franc catastrophy

try swiss or german brokerss... excellent quality and safe funds... check the following out
XM
DUKASCOPY
EXNESS

L2CD766:
i use payment agents... etradexchange is Nice try them out

on binary.com?

Homguy:
on binary.com?

yes... its better and faster..

bukky1:
Good morning guys. Are u aware pf this site www.forexpeacearmy.com? Been watching dem for sometime now, seems like a good site for pipers. Lol. Anyone with similar sites should pls post here.

help
Yes, FPA shorten for Forex Peace Army is good and I am a member since 2010. The forum was created to help FX guys around the globe.

The site also help settle some rift btw clients and brokers on FX and without any commission charges.

You can also found out whether ur broker is real or scam on the site 2ru the Brokers Alert menu on the site.

Yes very good site

ykpuffy:


Hello Madam, what's ur view on the indices direction today?

I am still bearish biased on the Dow but then again, anything can happen

tom29reloaded:


it is true bro. i know about 4 traders here that trade above a 100k account of theirs here but dese are d same set dat will preach forex will always be there. is all lies. the end is getting closer than u think for d small boys . truth is dat it started in US where Congress legislated a 1:10 leverage. A time is coming where u can only trade only ur capital. Example you deposit real 10,000$ and trade 50 cents or 1$ per pip etcetera. Is not going to be biz as usual. leverage is what makes forex attractive to tiny equity traders.

Wish I have $1000 , I would have compound to at least 2 million naira come ending of dis year & if they like they can close d market am not bothered at all.

Wish? for hw long

Fibonacci retracement on G.U ....seems to be heading for a pullback or still on retracement or in between

ephisi:
Pls i need to know the most reliable nigerian forex brokers right now, especially after the swiss franc catastrophy

shine ur eye. nobody is realiable, they're all catastrophy waitin to happen. can any broker in nigeria b more reliable than aalpari uk? sponsor of west ham utd,... wat. abt liberty reserve?

[quote author=bukky1 post=29959101]Good morning guys. Are u aware pf this site www.forexpeacearmy.com? Been watching dem for sometime now, seems like a good site for pipers. Lol. Anyone with similar sites should pls post here.[/quote

very good site especially if you have issues with your broker

SELL AUDUSD now at 0.8210 for a 50pips rrr=1;1

If you are not with FOREXTIME , i wonder where you are right now, at this crucial time of forex trading. hit this http://www.forextime.com/?partner_id=4900129 to join

ephisi:
Pls i need to know the most reliable nigerian forex brokers right now, especially after the swiss franc catastrophy

iheanyiebeneze:
If you are not with FOREXTIME , i wonder where you are right now, at this crucial time of forex trading. hit this http://www.forextime.com/?partner_id=4900129 to join

Please, does forextime have indices on its platform?

i will heavily SELL GBPUSD at 1.5283 today insha ALLAHU

YES. But Bros, I trade Forex, and am happy with them. My TRADING STRATEGY is working and am using it effectively to trade Currencies. Though i seldom trade GOLD, DJ, and DXY sometimes

jamace:
Please, does forextime have indices on its platform?

NZDCAD Long

This will help someone...




Six must-haves for a perfect trade setup

Plus, the Swiss spoil the party...


Dear trader,


No one likes to spoil a party like a central banker …

Last week, the Swiss National Bank scrapped the euro cap on the Franc.

It was the biggest move I’ve ever seen on a currency.

So why do they scrap the cap that has run for over three years?

It was just becoming far too expensive to keep on buying Euros against the Swiss Franc. The Swiss balance sheet was becoming far too large in relation to the economy. Also, this week Thursday(tomorrow), the ECB is expected to do what they said they would do and actually start their own version of QE, massive bond buying.

If it does actually happen, the Euro is likely to move much lower and that would have caused the artificial Swiss cap to buckle under. But the markets don't like the unexpected and, as a consequence, at least one retail broker has ceased trading and the fall out will badly impact many funds with exposure to the EURCHF exchange rate.

With markets this jittery, we want to ensure that we’re only risking our money on the very best trade opportunities … the ones with the best chance of making us a good return.

1. Timing

The best timing for your trade will depend on what strategy you’re using. It could be a morning breakout strategy, best used between 6 and 9am … it could be an overnight range-bound strategy, best used between 10pm and 3am …

What matters is that the time you’re trading is matched to the action you’re hoping to take advantage of in the markets.

There’s also timeframe to think about.

If your strategy has been built around trading around a 1-hour charting signal, but you find the same signal flagged up on a 30-minute chart – it’s not automatically transferrable. You’ll need to consider the kind of market movements you can expect within the timeframe – asking for too big a move is a sure way to stop the success of your trade.



2. At least two indicators colliding

If you’re using technical analysis to enter a trade, you’ll want to select these carefully.

While some traders have a dozen indicators on their charts, other will use just one. The happy medium would be to look for two or three well-matched indicators …

… the first triggers a signal, the second and third are used to confirm that signal.

I’m going to take a look over the coming weeks at how best to combine indicators, but we should be aware that some ‘suit’ each other better than others. Many different indicators are built out of what’s essentially the same data – like moving averages, or the size of candlesticks – so we want to use two indicators that are looking at price data from different angles.

While it’s frustrating if your indicators are constantly giving you mixed messages and telling you to sit out when you’re eager to get trading … if they are constantly in agreement, you should probably be more concerned, as they are probably just duplicating each other.

Your second and third level of confirmation is there to filter out signals that aren’t up to scratch – if they’re not filtering, then they’re not doing their job properly.

3. Daily ranges behaving

Markets don’t always behave how we want them to, and, like the most willful of children – one minute they’ll be throwing toys … the next they’ll be angelically asleep …

Understanding the expected movement in the market you’re trading, over the period you’re trading it, is vital.

If your trade is looking for a move of 100 points, on an hourly chart, and the price hasn’t moved more than 50 points a day for the past week … you’re going to struggle to see those returns. Chances are that something will come along to negate your trade before it’s had a chance to come good.

4. Key levels working on your side

In the heady moment of entering a trade, it’s easy to forget to check key levels that might block our trade from winning.

If your profit target involves the price breaching a level of resistance or breaking through a big round number … you’re not helping yourself having a successful trade.

It’s worth remembering that round number are both hard to break through … but also have a magnetic pull on prices – prices are often pulled very close to them, so be wary of this when placing stops too.

Of course, we can always move our profit targets and stop levels to fit around key levels … but this, again, can cause problems, if we’re mucking about with our risk-reward levels.

Is the new profit target is still ‘worth’ the risk you’re taking?

5. No news to spoil it

As last week Thursday 15th January showed perfectly … nothing spoils the best-made plans more than a Central Bank.

Of course, we can’t predict what bankers will announce, or what effect that will have on the market (it’s often the opposite of what we might expect). But we can make ourselves aware of scheduled announcements.

Forexfactory.com lists all the economic announcements happening each week, and the markets they are likely to effect. The main events to watch out for are Non-Farm Payrolls on the first Friday of every month.

6. Your mindset is right

The perfect mindset for trading is unemotional and detached. This allows us to make our decisions objectively.

Of course, we’re not robots, and the taking of any kind of financial risk (however carefully planned) has strange effects on our brains.

People place trades for all kinds of reasons …

… because they’re bored … because they’re angry … because they feel they’re owed a winner … because it ‘feels right’ …

Ask yourself …

Am I making this trade because it’s a sensible trade, or because I want to?

So, if this final planet comes into alignment with the other 5, you have your perfect trade set-up.

Of course, even perfect trade setups can lose, so – whatever the outcome – we must be prepared to pick ourselves up, and prepare for the next perfect trade setup.
Thanks,
Till next time.
Hit my SIGNATURE If this helped you.

An announcement on QE in the euro-zone seems imminent in the euro-zone.

The shocking move by the SNB with its accompanying hints and recent comments from ECB officials have paved the way for a very significant announcement. The reaction for EUR/USD depends on the size of the program. But, Draghi and co. will not necessarily give us an exact total number, but could go for other options such a program without a time frame, choosing a percentage of national debt as a measure, etc.

Here are the potential scenarios for the January 22nd event, with probabilities and possible reactions in EUR/USD:

QE worth around €750 billion: This would fit nicely between €500 billion reportedly prepared and the big T word: €1 trillion euros. Counting the other tools such as the TLTRO and ABS, a QE program of this size would make the total balance sheet expansion reach around €1 trillion, as the Bank intended. In this scenario, the euro would slide, but not collapse. Probability: high.
QE worth €500 billion: This is what the ECB staff was originally preparing, according to reports, but since then it seems that the move would be larger. Such a move is basically priced into EUR/USD and the reaction would be a “sell the fact”. Probability: medium.
QE worth €1 trillion or more: It could a a program of “up to one trillion” and not necessarily reach this sum, but the effect would be strong enough and would send the euro free-falling. Probability: low.
QE of up to 25% of total debt, by NCBs, with opt-outs: This is certainly a valid option according to what Knot had to say and it implies even €2 trillion. However, if bond buying is done at the national levels, with the National Central Banks (NCBs) rather than the ECB and countries could opt out, Germany would certainly a candidate that could avoid participation, taking a lot of weight out of the program. This could trigger a mixed reaction and lots of confusion in markets but hurt the euro. Probability: medium-high.
QE of up to 25% total debt, managed by the ECB: In this scenario, the ECB manages all the bond buying, and does it relatively quickly, printing lots of euros and steering fast towards the 2012 balance sheet. This would send the euro plunging fast. Probability: medium-low, due to German opposition.
No QE now: Some are still expecting the ECB to only talk about acting in March but not do anything now. Given recent hints, the probability seems very low. If this is the case, the euro would jump, as avoiding action now could mean avoiding action later.
Unlimited time frame: If Draghi takes a page from the last Fed book, he would announce monthly bond buying and no time frame for ending it or tapering it down. An unlimited program is the strongest one, and parity for EUR/USD is an option for the next days, depending on the monthly quantity. However, the probability is low: the ECB does adopt other banks’ policies, but usually not the latest ones and not the most extreme ones.

We are assuming that the ECB will not go for buys of corporate bonds, an option that was raised in the past but could be kept as a possible “Phase II” – keeping ammunition in the tool shed.

iheanyiebeneze:
This will help someone...




Six must-haves for a perfect trade setup

Plus, the Swiss spoil the party...


Dear trader,


No one likes to spoil a party like a central banker …

Last week, the Swiss National Bank scrapped the euro cap on the Franc.

It was the biggest move I’ve ever seen on a currency.

So why do they scrap the cap that has run for over three years?

It was just becoming far too expensive to keep on buying Euros against the Swiss Franc. The Swiss balance sheet was becoming far too large in relation to the economy. Also, this week Thursday(tomorrow), the ECB is expected to do what they said they would do and actually start their own version of QE, massive bond buying.

If it does actually happen, the Euro is likely to move much lower and that would have caused the artificial Swiss cap to buckle under. But the markets don't like the unexpected and, as a consequence, at least one retail broker has ceased trading and the fall out will badly impact many funds with exposure to the EURCHF exchange rate.

With markets this jittery, we want to ensure that we’re only risking our money on the very best trade opportunities … the ones with the best chance of making us a good return.

1. Timing

The best timing for your trade will depend on what strategy you’re using. It could be a morning breakout strategy, best used between 6 and 9am … it could be an overnight range-bound strategy, best used between 10pm and 3am …

What matters is that the time you’re trading is matched to the action you’re hoping to take advantage of in the markets.

There’s also timeframe to think about.

If your strategy has been built around trading around a 1-hour charting signal, but you find the same signal flagged up on a 30-minute chart – it’s not automatically transferrable. You’ll need to consider the kind of market movements you can expect within the timeframe – asking for too big a move is a sure way to stop the success of your trade.



2. At least two indicators colliding

If you’re using technical analysis to enter a trade, you’ll want to select these carefully.

While some traders have a dozen indicators on their charts, other will use just one. The happy medium would be to look for two or three well-matched indicators …

… the first triggers a signal, the second and third are used to confirm that signal.

I’m going to take a look over the coming weeks at how best to combine indicators, but we should be aware that some ‘suit’ each other better than others. Many different indicators are built out of what’s essentially the same data – like moving averages, or the size of candlesticks – so we want to use two indicators that are looking at price data from different angles.

While it’s frustrating if your indicators are constantly giving you mixed messages and telling you to sit out when you’re eager to get trading … if they are constantly in agreement, you should probably be more concerned, as they are probably just duplicating each other.

Your second and third level of confirmation is there to filter out signals that aren’t up to scratch – if they’re not filtering, then they’re not doing their job properly.

3. Daily ranges behaving

Markets don’t always behave how we want them to, and, like the most willful of children – one minute they’ll be throwing toys … the next they’ll be angelically asleep …

Understanding the expected movement in the market you’re trading, over the period you’re trading it, is vital.

If your trade is looking for a move of 100 points, on an hourly chart, and the price hasn’t moved more than 50 points a day for the past week … you’re going to struggle to see those returns. Chances are that something will come along to negate your trade before it’s had a chance to come good.

4. Key levels working on your side

In the heady moment of entering a trade, it’s easy to forget to check key levels that might block our trade from winning.

If your profit target involves the price breaching a level of resistance or breaking through a big round number … you’re not helping yourself having a successful trade.

It’s worth remembering that round number are both hard to break through … but also have a magnetic pull on prices – prices are often pulled very close to them, so be wary of this when placing stops too.

Of course, we can always move our profit targets and stop levels to fit around key levels … but this, again, can cause problems, if we’re mucking about with our risk-reward levels.

Is the new profit target is still ‘worth’ the risk you’re taking?

5. No news to spoil it

As last week Thursday 15th January showed perfectly … nothing spoils the best-made plans more than a Central Bank.

Of course, we can’t predict what bankers will announce, or what effect that will have on the market (it’s often the opposite of what we might expect). But we can make ourselves aware of scheduled announcements.

Forexfactory.com lists all the economic announcements happening each week, and the markets they are likely to effect. The main events to watch out for are Non-Farm Payrolls on the first Friday of every month.

6. Your mindset is right

The perfect mindset for trading is unemotional and detached. This allows us to make our decisions objectively.

Of course, we’re not robots, and the taking of any kind of financial risk (however carefully planned) has strange effects on our brains.

People place trades for all kinds of reasons …

… because they’re bored … because they’re angry … because they feel they’re owed a winner … because it ‘feels right’ …

Ask yourself …

Am I making this trade because it’s a sensible trade, or because I want to?

So, if this final planet comes into alignment with the other 5, you have your perfect trade set-up.

Of course, even perfect trade setups can lose, so – whatever the outcome – we must be prepared to pick ourselves up, and prepare for the next perfect trade setup.
Thanks,
Till next time.
Hit my SIGNATURE If this helped you.

Perfect

First TAKE PROFIT hit at 14day moving Average. Stoploss brought to breakeven. http://www.forextime.com/?partner_id=4900129

iheanyiebeneze:
SELL AUDUSD now at 0.8210 for a 50pips rrr=1;1

This 2015 am only for profit. shikina

Second TAKE PROFIT. Awaiting the last for the final 50pips about to be hit(as i explained in my TRADING STRATEGY i sent to all), we have cleaned our mouth waiting for another trade set-up

iheanyiebeneze:
SELL AUDUSD now at 0.8210 for a 50pips rrr=1;1

Don't Get 'Overexcited' About Thursday's Meeting: ECB Nowotny

The European Central Bank's policy meeting on Thursday will be interesting but we "shouldn't get over excited about it", ECB Governing Council member Ewald Nowotny said this morning.

Speaking at a Euromoney conference in the Austrian capital this morning, European Central Bank (ECB) Governing Council member and Austrian central bank chief Ewald Nowotny said that the much anticipated ECB monetary policy meeting on Thursday will be an interesting one but we "shouldn't get over excited about it."

The euro zone central bank's deliberations will be closely watched amid strong expectations that bank President Mario Draghi will announce a full-scale bond-purchasing program.

raycolz84:
Looking at the reaction around 179.20 for GJ, if it breaks it upward with 50pips, then I will comfortably join the bulls, otherwise, na niger-delta we they go back to

Atimes forex can be very deceptive, in this case both scenario played out, so wetin man go do, gj caught me in the upward move, and just when I was happy, the next thing na down down

iheanyiebeneze:
YES. But Bros, I trade Forex, and am happy with them. My TRADING STRATEGY is working and am using it effectively to trade Currencies. Though i seldom trade GOLD, DJ, and DXY sometimes

I can not see indices on the platform. Please help.

Which indices are you looking for? be specific pls

raycolz84:



Atimes forex can be very deceptive, in this case both scenario played out, so wetin man go do, gj caught me in the upward move, and just when I was happy, the next thing na down down

That's what I call being sucked in

naijababe:


That's what I call being sucked in

greetings madam.

you seem to have left day job for full time trading again