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Forex Trading - Season 13 - Business (427) - Nairaland

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Re: Forex Trading - Season 13 by Kirinwa: 1:36pm On Jul 22, 2013
Undiluted: grin Please don't click buy when you want to sell oh! That's a serious situation, imaging taking a trade and he calls you just before you can place a stop loss.

Omo na die o.You come use big lot size garnish am.
Re: Forex Trading - Season 13 by FOREXMARTS: 1:53pm On Jul 22, 2013
Kirinwa:

Omo na die o.You come use big lot size garnish am.

Lol it has happens to me before. But that one small. The last one i experienced was where i meant too place trade with 0.5 but mistakenly placed it with 5.0 and out. Came back to check an hour later to see -750. I farted loudly and started sweating in my arm pits. Luckily there was money and when it came down to zero modified it to the right lot size and went on to take 80 pips. See farting.
Re: Forex Trading - Season 13 by meshpips(m): 2:14pm On Jul 22, 2013
Dipocian:

Gu @ 1.5425, but d current price am seeing here is 1.5331

Yeah Dipo,
the trade is slightly drawn down at the moment. See ehn, I'm honest enough to say EXACTLY where I entered the trade even in the face of a present draw down. I'm still very much convinced that the trade will yield at least 100 pips within 24 hours. You sabi the proverb wey say ''whether goat frown face or not, them go still price am.'' In the same way, whether GU try do stubborn head or not, e go still gimme 100 pips.
Enjoy your day my brother.
Meshach

1 Like

Re: Forex Trading - Season 13 by FOREXMARTS: 2:20pm On Jul 22, 2013
meshpips:

Yeah Dipo,
the trade is slightly drawn down at the moment. See ehn, I'm honest enough to say EXACTLY where I entered the trade even in the face of a present draw down. I'm still very much convinced that the trade will yield at least 100 pips within 24 hours. You sabi the proverb wey say ''whether goat frown face or not, them go still price am.'' In the same way, whether GU try do stubborn head or not, e go still gimme 100 pips.
Enjoy your day my brother.
Meshach

hmm
Re: Forex Trading - Season 13 by McNelson(m): 2:32pm On Jul 22, 2013
meshpips:

Yeah Dipo,
the trade is slightly drawn down at the moment. See ehn, I'm honest enough to say EXACTLY where I entered the trade even in the face of a present draw down. I'm still very much convinced that the trade will yield at least 100 pips within 24 hours. You sabi the proverb wey say ''whether goat frown face or not, them go still price am.'' In the same way, whether GU try do stubborn head or not, e go still gimme 100 pips.
Enjoy your day my brother.
Meshach
Oga meshpips..........I do admire your courage. That's what they call discipline, no matter the sitution of the market
Re: Forex Trading - Season 13 by rozayx5(m): 3:02pm On Jul 22, 2013
meshpips:

Yeah Dipo,
the trade is slightly drawn down at the moment. See ehn, I'm honest enough to say EXACTLY where I entered the trade even in the face of a present draw down. I'm still very much convinced that the trade will yield at least 100 pips within 24 hours . You sabi the proverb wey say ''whether goat frown face or not, them go still price am.'' In the same way, whether GU try do stubborn head or not, e go still gimme 100 pips.
Enjoy your day my brother.
Meshach

you will need fundamental support if you wanna achieve this feat
cause no sell in view here ( the resistances i thought wud hold GU did not hold it,

well with the highlighted 24 hrs, it might favor you 2mao morning with its daily breakouts
Re: Forex Trading - Season 13 by natruetalk: 3:17pm On Jul 22, 2013
natruetalk: didn't know what oga kiriwa saw but since my RR is ok am giving it a go

house

let make dollar from here

SEll usd/cad entered mine at 1.0379 sl 1.0411 tp 1.0338
Goodluck

tp hit on this call

Re: Forex Trading - Season 13 by Kirinwa: 3:24pm On Jul 22, 2013
Waiting to short gold around 1345
Re: Forex Trading - Season 13 by natruetalk: 3:37pm On Jul 22, 2013
@ meshpips what Dipo was saying is how did you sold GU @1.3425 ? when the current high price is 1.5378
Re: Forex Trading - Season 13 by natruetalk: 3:53pm On Jul 22, 2013
house

eyeing to buy either Gbp/jpy or Aud/jpy

what do you think ?
Re: Forex Trading - Season 13 by honeric01(m): 3:59pm On Jul 22, 2013
My 40pips on Uchf just hit sl.

Waiting and watching UJ and EU respectively.
Re: Forex Trading - Season 13 by ayoola190: 4:07pm On Jul 22, 2013
onlineresource: My Analysis on Gold for this week.

From my fridays trade, i took a sell @1296 area with 50pips which is still valid and expect it to move lower
this new week.
Now straight to the analysis of the pair..
From the blue shaded area, you will see that gold has been in a range for quite for time...
If you have been conservant with the pair, you will notice that during this time of the year
there is always a range before gold start buying towards the end of this year...
But for now, i still expect the pair to continue movement down and once 1290 is broken,
i would definitely add another position to the pair and monitor the trade down back to 1266
area which is the end point of the range on gold...

the only thing that can invalidate this position is if we see a nice break above 1300 area which
is likely to suggest that the bearish movement of the pair is getting over...

Well that is it for now.

Well i can just say here is that now there is need to really monitor the movement because of the
monthly level at 1279 area..

catch ya all later..

NOTE: there was an earthquake this morning in australia, so those of you trading NZD should take note..
Pls how do you draw the horizontal lines and the trendline?
Re: Forex Trading - Season 13 by Nobody: 4:08pm On Jul 22, 2013
bulls are still in charge,smart money could not mark down price on the EU
Re: Forex Trading - Season 13 by FOREXMARTS: 4:31pm On Jul 22, 2013
natruetalk: @ meshpips what Dipo was saying is how did you sold GU @1.3425 ? when the current high price is 1.5378

Smiled when he said that. Maybe a typo. Or na boko haram fx platform? Well he will tell us.
Re: Forex Trading - Season 13 by onlineresource: 4:31pm On Jul 22, 2013
I hope this explanation will help you.
in drawing horizontal lines that is valid
you have to only draw them on the higher timeframe
cos that way, those lines will be respected when you draw it.
Horizontal line are drawn in area where there is a reaction of price
in a particular area, possibly points of rejections of price.

Looking at this chart, the shaded area are where price react on this chart on the
4hour timeframe, so these are the levels that you will looking at as your horizontal
line, so what you have to draw this line using the horizontal line in the chart menu.

the easiest way to learn this is when you practice this yourself then you will
begin to be able to spot them. As you can see from the areas which i have drawn, price
is actually reacting in that region and that is what you will be anticipating to happen when
price gets to any of this areas. either a rejection or a break.

Hope this help.
For further study, simply head over to babypips as it might be more explanatory there.

In drawing trendline, what you will be doing is simply spotting the swings movement
in price, Its also like the horizontal line more to say, but if you read more on babypips,
you will have a better understanding.

When drawing trendline, you only draw trendline on the higher timeframe, If you trading the 1hr
timeframe, Draw your trendline from the 4hr, Daily,Weekly and monthly timeframe and never draw
from any where lower as it will create too much noise for you and price might not respect it if you
are using it on the lower timeframe apart from the 1hour that you are using it.

To draw a trendline right here on the 4hour, i will simply look for areas where price
is moving in higher highs/higher lows and lower lows/lower high before drawing the trendline.

this is an example of the current chart on gold in drawing the trend..

Pls House if you have any simplier explanation simply help in explaning...

Re: Forex Trading - Season 13 by Nobody: 4:32pm On Jul 22, 2013
Hmmm uj dey stagger at the moment. 99.53. Lets hope it falls
Re: Forex Trading - Season 13 by FOREXMARTS: 4:32pm On Jul 22, 2013
aguiyi: bulls are still in charge,smart money could not mark down price on the EU

Seems someone is studying VSA. Good luck.

1 Like

Re: Forex Trading - Season 13 by Nobody: 4:33pm On Jul 22, 2013
gold has definately change it trade channel.. incase anyone is waiting to short.. you will need to draw a new channel trendlines.. just a reminder.. congrats to those who entered long...
Re: Forex Trading - Season 13 by Nobody: 4:34pm On Jul 22, 2013
FOREXMARTS:

Smiled when he said that. Maybe a typo. Or na boko haram fx platform? Well he will tell us.
na typo. 4 in place of 3.
Re: Forex Trading - Season 13 by FOREXMARTS: 4:39pm On Jul 22, 2013
onlineresource: I hope this explanation will help you.
in drawing horizontal lines that is valid
you have to only draw them on the higher timeframe
cos that way, those lines will be respected when you draw it.
Horizontal line are drawn in area where there is a reaction of price
in a particular area, possibly points of rejections of price.

Looking at this chart, the shaded area are where price react on this chart on the
4hour timeframe, so these are the levels that you will looking at as your horizontal
line, so what you have to draw this line using the horizontal line in the chart menu.

the easiest way to learn this is when you practice this yourself then you will
begin to be able to spot them. As you can see from the areas which i have drawn, price
is actually reacting in that region and that is what you will be anticipating to happen when
price gets to any of this areas. either a rejection or a break.

Hope this help.
For further study, simply head over to babypips as it might be more explanatory there.

In drawing trendline, what you will be doing is simply spotting the swings movement
in price, Its also like the horizontal line more to say, but if you read more on babypips,
you will have a better understanding.

When drawing trendline, you only draw trendline on the higher timeframe, If you trading the 1hr
timeframe, Draw your trendline from the 4hr, Daily,Weekly and monthly timeframe and never draw
from any where lower as it will create too much noise for you and price might not respect it if you
are using it on the lower timeframe apart from the 1hour that you are using it.

To draw a trendline right here on the 4hour, i will simply look for areas where price
is moving in higher highs/higher lows and lower lows/lower high before drawing the trendline.

this is an example of the current chart on gold in drawing the trend..

Pls House if you have any simplier explanation simply help in explaning...

Most of what we are taught about drawing trendlines are obsolete higher highs and lower lows. Let me teach the house to draw true trend line lines. Am posting via mobile so won't post pics but hope u will still understand. May i?
Re: Forex Trading - Season 13 by natruetalk: 4:39pm On Jul 22, 2013
FOREXMARTS:

Smiled when he said that. Maybe a typo. Or na boko haram fx platform? Well he will tell us.

Agreed so because he further talk about drawn down, so it should be 1.5325
Re: Forex Trading - Season 13 by Nobody: 4:47pm On Jul 22, 2013
FOREXMARTS:

Seems someone is studying VSA. Good luck.
yea bro, volume is the best indicator i have seen in this business.
Re: Forex Trading - Season 13 by natruetalk: 4:50pm On Jul 22, 2013
natruetalk: house

eyeing to buy either Gbp/jpy or Aud/jpy

what do you think ?
Re: Forex Trading - Season 13 by FOREXMARTS: 4:51pm On Jul 22, 2013
aguiyi:
yea bro, volume is the best indicator i have seen in this business.

Studied it too but the biggest issue your yet to encounter is divergence. Cos when volume and price diverges you never can tell if its a pause or a reversal unless your using a level two or level one platform. But hey if it works for you, go ahead.Not good for mt4
Re: Forex Trading - Season 13 by Nobody: 4:54pm On Jul 22, 2013
FOREXMARTS:

Studied it too but the biggest issue your yet to encounter is divergence. Cos when volume and price diverges you never can tell if its a pause or a reversal unless your using a level two or level one platform. But hey if it works for you, go ahead.Not good for mt4

try the tom williams standalone system,its around $1,999. u can enter trade on mt4 with it. all u need is to watch out for high volume/utra high volumes and sup/res.

guess u have something that works for u , so no need
Re: Forex Trading - Season 13 by onlineresource: 4:55pm On Jul 22, 2013
FOREXMARTS:

Most of what we are taught about drawing trendlines are obsolete higher highs and lower lows. Let me teach the house to draw true trend line lines. Am posting via mobile so won't post pics but hope u will still understand. May i?

sure... you can go ahead...
Re: Forex Trading - Season 13 by FOREXMARTS: 4:55pm On Jul 22, 2013
natruetalk:


For an intra day trader today's ADR and ATR has gone beyond 70% too risky. I always g say this, if you don't make money in London and New York sessions which is between 7am to 7pm forget trading for that day cause that's two sessions unless na night vigil u wan do. Speaking intra day
Re: Forex Trading - Season 13 by endfx1(m): 4:58pm On Jul 22, 2013
OliverPin: Hmmm uj dey stagger at the moment. 99.53. Lets hope it falls
honeric01: My 40pips on Uchf just hit sl.

Waiting and watching UJ and EU respectively.

Am waiting patiently for the current 4hr candle to close for me to decide if to sell or not.though the uptrend line is broken but the weekly S1 at 99.390 is a place to watch.

Re: Forex Trading - Season 13 by natruetalk: 5:01pm On Jul 22, 2013
FOREXMARTS:

For an intra day trader today's ADR and ATR has gone beyond 70% too risky. I always g say this, if you don't make money in London and New York sessions which is between 7am to 7pm forget trading for that day cause that's two sessions unless na night vigil u wan do. Speaking intra day

brilliant advice sir

that is the reason i have not enter the trade. any trade i take now will be for tomorrow take profit for sure. and not ready to take position until next 4hrs close candle if all condition still remain as it is.

thank for your comment once again
Re: Forex Trading - Season 13 by Dipocian(m): 5:07pm On Jul 22, 2013
ayox2003: Silver: Sell at the line

Gartley pattern below


Frawzey

Can u please explain hw to use dis indicator in identifying this pattern, cos I still can't really get it

Re: Forex Trading - Season 13 by Nobody: 5:12pm On Jul 22, 2013
endfx1:

Am waiting patiently for the current 4hr candle to close for me to decide if to sell or not.though the uptrend line is broken but the weekly S1 at 99.390 is a place to watch.

hmmm you get liver o. the fact say them elect ABE dey make me fear to buy jpys. and besides that, the daily candle don too long to fall more na. my thoughts but i will just watch out for 98.80 for a long. if i see good bullish PA
Re: Forex Trading - Season 13 by endfx1(m): 5:22pm On Jul 22, 2013
OliverPin: hmmm you get liver o. the fact say them elect ABE dey make me fear to buy jpys. and besides that, the daily candle don too long to fall more na. my thoughts but i will just watch out for 98.80 for a long. if i see good bullish PA

Lol...am only learning ooo bro.like one of our brother rightly said "Forex is a game of probabilities". grin

Fingers crossed sha!

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