learner1:
You don't like me. The volatility of GN is worst than gold plus d high spread. I hate that pair. Copying and trying to be like others did not help me

Kirinwa:

Go for GbpNzd,EurNzd. Gold can mess your account if no experience. For the 2 pairs use 4-hour and check around 7am for direction.

learner1: House as a newbie, which of the following one pair trading do u advice i go with for now?
EU EJ Gold. I want to start trading once in a day or two solid trades a week to allow me keep to compounding and stop giving back my profit to d market. Thanks.

learner1: House as a newbie, which of the following one pair trading do u advice i go with for now?
EU EJ Gold. I want to start trading once in a day or two solid trades a week to allow me keep to compounding and stop giving back my profit to d market. Thanks.

Pipsland78:
Dude, please forget EJ and Gold at this level, they are way too volatile for you. Focus on being profitable in the long term, not on being rich as soon as possible. So the idea is to trade a single pair that isnt particularly volatile and rather predictable. Also make sure to trade maximum of once a day risking not more than 5% of your capital.

I would recommend the GU though. I trade only GU and my account statement is a beauty to behold. I've shown you how I'm doing it with $198, so you also make it with $200.

Wish you the best.

uncle2010: How do you trade this pair.......with almost 200pips per day

fxisreal:

@learner1 if u like to know something about Gu mail me or leave ur number here will call u

learner1:
Mail sent. Thanks

Pipsland78:
Dude, please forget EJ and Gold at this level, they are way too volatile for you. Focus on being profitable in the long term, not on being rich as soon as possible. So the idea is to trade a single pair that isnt particularly volatile and rather predictable. Also make sure to trade maximum of once a day risking not more than 5% of your capital.

I would recommend the GU though. I trade only GU and my account statement is a beauty to behold. I've shown you how I'm doing it with $198, so you also make it with $200.

Wish you the best.

fxisreal:

not seen bro, may be u used d old mail, try d 1 with my id

Piponomics: This is why I like this thread. Everyone with his own ideas. Finally oga learner, the ball is in your court to choose what you will work with. GU is great for some people while others won't touch it with a barge pole. Same applies to all other tradable pairs. Keep working and researching till you find what works for you. Simple.

learner1: House as a newbie, which of the following one pair trading do u advice i go with for now?
EU EJ Gold. I want to start trading once in a day or two solid trades a week to allow me keep to compounding and stop giving back my profit to d market. Thanks.

InvertedHammer: Truth is there is more to forex trading than price movements, charts, indicators. Until you learn this secret, you will keep losing your money. You may win 90% of your trades, but that 10% loss will wipe out your account.

For a starter, if you don't have $10k initial deposit, don't even bother...you are only on a wild goose chase.

Prove me wrong if you could. On the long run, most trader keep losing money. But, the irony is that they never give up
until they lose their pants, house, relationship, etc. It is a brutal fantasy world out there. I will keep giving out hints until the smart ones get it.

TIP 1 of the day: YOUR BROKER IS TAKING POSITIONS AGAINST YOU.

Where else do you think all the liquidity comes from?

fxbomovi: @learner. This house like you well well that is everyone is giving you advice. Just choose the one that is best for you. If you have made up your mind to trade one pair, then go for it but make sure you have lots of patience gene. Trading one pair requires lots of patience.

piphacker:

I pray many ppl to take note of this point

endfx1:

Hmmmmmmm.....nobody seem to be talking about the Independent mad man UJ.... I wanted trading EJ alone but discovered two things

1. It rallies just once in a while like piponomics rightly said........Well just take your time no one can discover it for you except YOU...What works for others might not work for you.
My 1kobo

infofirst:

Which point i beg oh. $100 = 10,000 cents n wetin. if them broker like make then open positions against me n if am doing the right tin n then they r doing the wrong tin n lobatan

fxisreal:

u can say that again bro, if traders doing it right as u said i tell you the broker will call u to ask are u using any system? it has happen b4,

takeprofit: can any broker influence the market price of a currency pair in a particular direction for 100 pips?

Piponomics: This is why I like this thread. Everyone with his own ideas. Finally oga learner, the ball is in your court to choose what you will work with. GU is great for some people while others won't touch it with a barge pole. Same applies to all other tradable pairs. Keep working and researching till you find what works for you. Simple.

piphacker:

I pray many ppl to take note of this point

Pipsland78:
No single broker has the amount of cash required to influence the market. I wonder why folks keep saying that people lose because their brokers are betting against them, it's just not possible and this is why: if I'm using broker A and I decide to short the EU, and broker A decides to bet against me by longing the EU. It means that broker A is betting in favour of all other traders who are longing the EU at that particular moment. And what about brokers B, C, D, E,F, etc who are equally either shorting or longing the EU at that same moment. Also, what about the investment banks, governments, mutual funds, etc who are equally longing or shorting the EU at that same moment? So if my broker is betting against me, that means my broker is equally betting against soooooooo many other traders who are betting in my favour. And my broker simply does not have the amount of funds to influence the market - no broker does.

So the idea of a broker betting against a trader simply isnt valid; the market simply follows the majority and my broker doesnt make up the majority. If it were true that my broker could bet against me and force me to make a loss, then I shouldnt have been growing my account on a very consistent basis for so long.

Again, the market simply follows the money!

XHTML:

There is NO central forex market, know and understand that.

Pipsland78: Are you for real here because this goes against the first thing I learnt about the market. Are you telling me the price of EU, for instance, is different across different brokers? If there is any difference in price it boils down to spread, nothing more.

XHTML:

Like seriously? Are you for real here?

"Betting against so many other traders, investment banks" What? You have no idea how MMs operate, do you (or even the Foreign Exchange Market in general)? Do you even know the various types of brokers available? Do you trade or you're just "speculating"? Don't misinform people.

There is NO central forex market, know and understand that.

Forex Brokers, which are not Market Makers, operate either a Straight Through Processing (STP) or an Electronic Communications Network (ECN) These types of brokers I'd recommend to anyone who's serious about trading forex - only bad thing though is, they often require large "minimum funding capital".

Market Makers are dealing desks who create positions against your trades. The broker provides the liquidity. Your orders are never quoted on the interbank market, simply because the Broker IS the market. Most times the larger MMs, pair your trades - i.e they pair you with another of their customer on the opposite end of your trade.

All these brokers that let you deposit $100 and all those are nothing short of Market Makers. Now, I'm not saying MM's are a terrible choice (esp. if you don't have enough capital to trade with an ECN broker), I'm just saying you understand the underlying operation. It is possible for your broker to manipulate things to their favor, from price to feeds, etc.

Surely there are good MMs out there, but there are those who engage in lots of shady actions. Hence I'd recommend an ECN broker (if you're able to ply that route).

If you can't get an ECN broker, you're better off with an STP broker. I'm low on adrenaline so I can't type a longer post to explain exhaustively how the forex market works for those here who may not know but I believe I've touched a few points.

.

Pipsland78:
No single broker has the amount of cashequired to influence the market. I wonder why folks keep saying that people lose because their brokers are betting against them, .........