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Forex Trading - Season 13 - Business (299) - Nairaland

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Re: Forex Trading - Season 13 by lordaustin(m): 9:48am On May 28, 2013
I hope say all of una wey dey gold buy don run commot. GOLD IS AT IT AGAIN grin grin grin
Re: Forex Trading - Season 13 by rozayx5(m): 9:48am On May 28, 2013
Igwe OO:

Shebi you dey watch am. A;most time for a long. Next one or two candles will determine. cool

the bulls are very strong on the bigger timeframes, the last signal (buy) on 4hour is since 1st April shocked shocked
+1000 pips
Re: Forex Trading - Season 13 by nolly042(m): 9:58am On May 28, 2013
nolly042:
me i sold the pair but am watching it closely
1st tp on gold taken, oil about to hit 100pips as well
Re: Forex Trading - Season 13 by IgweOO(m): 10:00am On May 28, 2013
rozayx5:

the bulls are very strong on the bigger timeframes, the last signal (buy) on 4hour is since 1st April shocked shocked
+1000 pips

Yea, thats why I wrote last night, that I prefer to long them to shorting them. Most def., will be buying at the yesterdays support that was broken today as I see a new support now.
Re: Forex Trading - Season 13 by XHTML: 10:07am On May 28, 2013
Bought at 1380.80, SL 1377.36. Gold.
Re: Forex Trading - Season 13 by onlineresource: 10:18am On May 28, 2013
lordaustin: I hope say all of una wey dey gold buy don run commot. GOLD IS AT IT AGAIN grin grin grin

thats why there is stop loss to protect people trades should trade goes other way...
my stop has been hit...
price broke the weekly pivot point which means that price is going down...
Re: Forex Trading - Season 13 by rozayx5(m): 10:32am On May 28, 2013
onlineresource:

thats why there is stop loss to protect people trades should trade goes other way...
my stop has been hit...
price broke the weekly pivot point which means that price is going down...

clouds have confirmed sell here
Re: Forex Trading - Season 13 by raycolz84: 10:42am On May 28, 2013
Bought EJ at 131.80 with tight stop loss
Re: Forex Trading - Season 13 by WINNINGWAYZ(m): 10:48am On May 28, 2013
Stalking Eur/yen.... almost time for SELL, same with Gbp/yen
Re: Forex Trading - Season 13 by XHTML: 10:50am On May 28, 2013
XHTML: Bought at 1380.80, SL 1377.36. Gold.

SL Modified to 1376.69. Remind me to never have that SL at the previous candle's Low.
Re: Forex Trading - Season 13 by WINNINGWAYZ(m): 10:53am On May 28, 2013
WINNINGWAYZ: Stalking Eur/yen.... almost time for SELL, same with Gbp/yen
At 132.50 area... major SELLING things. Just wait for any sign
Re: Forex Trading - Season 13 by XHTML: 10:57am On May 28, 2013
^^ There's a good chance Resistance at 132.01 will be broken.
Re: Forex Trading - Season 13 by Birikiti: 11:04am On May 28, 2013
Will someone please tell Mr. Gold to make up his mind? Me I just wan follow anywhere he wants to go! This back and forth is not doing anyone any good jare!
Re: Forex Trading - Season 13 by XHTML: 11:11am On May 28, 2013
Birikiti: Will someone please tell Mr. Gold to make up his mind? Me I just wan follow anywhere he wants to go! This back and forth is not doing anyone any good jare!

I exited with a couple pips on my last trade. It's back to scalping for me.
Re: Forex Trading - Season 13 by WINNINGWAYZ(m): 11:27am On May 28, 2013
WINNINGWAYZ: Stalking Eur/yen.... almost time for SELL, same with Gbp/yen
At 132.50 area... major SELLING things. Just wait for any sign
gboom.... first alert triggered
Re: Forex Trading - Season 13 by malachi2uk(m): 11:44am On May 28, 2013
malachi2uk: GOOD MORNING HOUSE

PLEASE CAN SOMEONE TELL ME THE DIFFERENCE BETWEEN LAVERAGE AND LOT SIZE AND HOW TO CHOOSE LAVERAGE ON MT4.

THANKS


SO NO ONE IS REPLYING ME BECAUSE I DIDN'T DROP AN ALERT angry
K,I WILL SHORT NU IF IT BREAKS MONTHLY RESISTANCE grin grin

CAN SOMEONE ANSWER ME NOW?
Re: Forex Trading - Season 13 by Nobody: 12:02pm On May 28, 2013
malachi2uk:


SO NO ONE IS REPLYING ME BECAUSE I DIDN'T DROP AN ALERT angry
K,I WILL SHORT NU IF IT BREAKS MONTHLY RESISTANCE grin grin

CAN SOMEONE ANSWER ME NOW?
I wonder what goes on in the head of some of you. You just had to sound this way right? Oya wait till those you are feeding will come online to answer you.
Nonsense.
Re: Forex Trading - Season 13 by malachi2uk(m): 12:15pm On May 28, 2013
Piponomics:
I wonder what goes on in the head of some of you. You just had to sound this way right? Oya wait till those you are feeding will come online to answer you.
Nonsense.

HABA BOSS!!!

THE grin (SMILEY) IS TO LET YOU KNOW THAT AM KIDDING.
Re: Forex Trading - Season 13 by Nobody: 12:23pm On May 28, 2013
malachi2uk:

HABA BOSS!!!

THE grin (SMILEY) IS TO LET YOU KNOW THAT AM KIDDING.

Oga some of us have poor sense of humor so we tend to take things too serious. Me especially. Anyways back to your question.
Leverage is kind of a provision that allows you trade with money that isn't yours. It magnifies your balance if you understand what I mean. It is chosen when you are opening the account and you cannot change it from the MT4 platform. You have to contact your broker to change it for you.
Lot size is the size of your position. When you want to place a trade and choose 0.01, it means you will get ten cents for every pip. 0.1 means one dollar for every pip. 1.0 means ten dollars for every pip. 10.0 means hundred dollars for every pip. Etc.
You can read up online if you are still confused.
Have a nice day.

1 Like

Re: Forex Trading - Season 13 by AmeLonRo(m): 12:29pm On May 28, 2013
EUR/JPY WILL SELL NOW AND REVERT TO SAY 131.50. See the pin bar in 15 minutes. grin
Re: Forex Trading - Season 13 by rozayx5(m): 12:40pm On May 28, 2013
Ame Lon Ro: EUR/JPY WILL SELL NOW AND REVERT TO SAY 131.50. See the pin bar in 15 minutes. grin

15 minutes pin bar lipsrsealed lipsrsealed

that timeframe is too small to check for pin bars, i respect pin bars on 4hour or higher
Re: Forex Trading - Season 13 by Nobody: 1:00pm On May 28, 2013
rozayx5:

15 minutes pin bar lipsrsealed lipsrsealed

that timeframe is too small to check for pin bars, i respect pin bars on 4hour or higher

Rozay banned again angry angry

till 31st may
Re: Forex Trading - Season 13 by fxisreal: 1:02pm On May 28, 2013
Piponomics:
Oga some of us have poor sense of humor so we tend to take things too serious. Me especially. Anyways back to your question.
Leverage is kind of a provision that allows you trade with money that isn't yours. It magnifies your balance if you understand what I mean. It is chosen when you are opening the account and you cannot change it from the MT4 platform. You have to contact your broker to change it for you.
Lot size is the size of your position. When you want to place a trade and choose 0.01, it means you will get ten cents for every pip. 0.1 means one dollar for every pip. 1.0 means ten dollars for every pip. 10.0 means hundred dollars for every pip. Etc.
You can read up online if you are still confused.
Have a nice day.

welldone boss,
..and i believe some guys here would like to know the diffrences between a position open with 0.1 lot on 1:200 leverage and on 1:500 leverage
can you explain that further pls
Re: Forex Trading - Season 13 by Kirinwa: 1:06pm On May 28, 2013
XHTML:
SL Modified to 1376.69. Remind me to never have that SL at the previous candle's Low.
Okay nah.It pains me when I see comments like this.You're on the wrong side yet you want to prove yourself right.I told you guys yesterday that 1380 is a strong support.It has been broken thus forming a resistance.Margin call awaits if you keep adjusting your stoploss.
Re: Forex Trading - Season 13 by Nobody: 1:08pm On May 28, 2013
onlineresource:

thats why there is stop loss to protect people trades should trade goes other way...
my stop has been hit...
price broke the weekly pivot point which means that price is going down...

Not broken yet here o. My sl is 1375 though, so still in the trade
Re: Forex Trading - Season 13 by XHTML: 1:12pm On May 28, 2013
Kirinwa: Okay nah.It pains me when I see comments like this.You're on the wrong side yet you want to prove yourself right.I told you guys yesterday that 1380 is a strong support.It has been broken thus forming a resistance.Margin call awaits if you keep adjusting your stoploss.

And your point is?

I closed that position at 1381.41 - 81pips. I extended the SL with good reasons (go and re-read the post you quoted).
Re: Forex Trading - Season 13 by endfx1(m): 1:18pm On May 28, 2013
endfx1: Wow PA in the making...can history repeat itself again?

Watch the trend and the pullback to form a bullish pin.....the 1st was cool can the one of today do same?

lets watch and see....hmmmmmm seeing things shocked

If i were to trade this setup i would place a BUY LIMIT order 93.30 which is 50% retrace of the pin bar..SL at 92.11 and TP 97.10

This alert still raking....hmmmmm

Re: Forex Trading - Season 13 by malachi2uk(m): 1:26pm On May 28, 2013
Piponomics:
Oga some of us have poor sense of humor so we tend to take things too serious. Me especially. Anyways back to your question.
Leverage is kind of a provision that allows you trade with money that isn't yours. It magnifies your balance if you understand what I mean. It is chosen when you are opening the account and you cannot change it from the MT4 platform. You have to contact your broker to change it for you.
Lot size is the size of your position. When you want to place a trade and choose 0.01, it means you will get ten cents for every pip. 0.1 means one dollar for every pip. 1.0 means ten dollars for every pip. 10.0 means hundred dollars for every pip. Etc.
You can read up online if you are still confused.
Have a nice day.

THANKS VERY MUCH,1 MORE QUESTION PLEASE
fxisreal:

welldone boss,
..and i believe some guys here would like to know the diffrences between a position open with 0.1 lot on 1:200 leverage and on 1:500 leverage
can you explain that further pls

HERE IS THE QUESTION
THANKS
Re: Forex Trading - Season 13 by Nobody: 1:36pm On May 28, 2013
If you have a hundred dollar account at 1:200 leverage and another on 1:500 and take 0.1 lot size trades on the both, the second account will have more free margin percentage than the first. This is where leverage becomes bad as the trader with the second account would be given a false sense of security he will go ahead to enter more 0.1 lot size trades and blow his account.
So in essence, the bigger the leverage the easier it is to get decieved into using bigger lots and opening more trades.
Re: Forex Trading - Season 13 by malachi2uk(m): 1:40pm On May 28, 2013
Piponomics: If you have a hundred dollar account at 1:200 leverage and another on 1:500 and take 0.1 lot size trades on the both, the second account will have more free margin percentage than the first. This is where leverage becomes bad as the trader with the second account would be given a false sense of security he will go ahead to enter more 0.1 lot size trades and blow his account.
So in essence, the bigger the leverage the easier it is to get decieved into using bigger lots and opening more trades.

THANKS VERY MUCH...MORE PIPS IN YOUR ACCOUNT
Re: Forex Trading - Season 13 by wapmasta001(m): 1:43pm On May 28, 2013
naijababe:

Not broken yet here o. My sl is 1375 though, so still in the trade

MAMA GOLD.....YOU STILL HOLDING DZ TRADE OF LAST THURSDAY WE TOOK?? wink wink wink wink wink

Re: Forex Trading - Season 13 by Nobody: 1:49pm On May 28, 2013
fxisreal:

welldone boss,
..and i believe some guys here would like to know the diffrences between a position open with 0.1 lot on 1:200 leverage and on 1:500 leverage
can you explain that further pls
A higher leverage only allows you to be able to trade using higher lots on thesame balance as against lower leverages. In other words, assuming you have $500 in account A which is on 1:100 leverage and same amount in account B which is on 1:500 leverage, while account A may only allow you trade with maximum of 0.5 lot size, account B may allow you trade with maximum of 2.5 lot size.

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