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Forex Trading - Season 13 - Business (489) - Nairaland

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Re: Forex Trading - Season 13 by frenchman2: 9:24am On Aug 14, 2013
adeyinka_basir:

@meshpips, @rozayx, @natruetalk and @Frenchman what u all think on dis

sir, i think the bulls are still in charge. i might be wrong. though i bought uj
my target is the trendline
see chart below
Nothing is guaranteed. let's see how it plays out

PRICE IS KING. FOLLOW IT WHEREVER IT GOES.

1 Like

Re: Forex Trading - Season 13 by frenchman2: 9:27am On Aug 14, 2013
Sold eur/nzd based on the break of yesterday's low. and this is in line with the downtrend

Re: Forex Trading - Season 13 by pinbar(m): 9:36am On Aug 14, 2013
pinbar: my GU at BE against the up coming news
stopped out at BE, selllimit order waiting at 1.5502

edit : triggered. sl 1. 5515
Re: Forex Trading - Season 13 by adeyinkabasir(m): 9:44am On Aug 14, 2013
frenchman2:


sir, i think the bulls are still in charge. i might be wrong. though i bought uj
my target is the trendline
see chart below
Nothing is guaranteed. let's see how it plays out

PRICE IS KING. FOLLOW IT WHEREVER IT GOES.
thanks a million time.....i really appreciate ur sincere opinion....God bless u Man
Re: Forex Trading - Season 13 by pinbar(m): 9:48am On Aug 14, 2013
pinbar:
stopped out at BE, selllimit order waiting at 1.5502

edit : triggered. sl 1. 5515
:
i think this is meshpips' kind of trade...3 pips drawdown lipsrsealed trade at BE. na becos i am less busy today, thats why i m on 1hr tf, ordinarily, i trade the dailies, but my entries is strictly daily except for the news wey wan show hinself
Re: Forex Trading - Season 13 by WildChild00(m): 9:54am On Aug 14, 2013
30 mins ago.
Sell Gbp/Usd @ 1.5400 SL 1.54600 TP 1.54200
Re: Forex Trading - Season 13 by XHTML: 10:48am On Aug 14, 2013
naijababe:

Mehn, na by complete accident o. Dboy one of the posters here talked about Van Tharp so I checked out his reviews on Amazon and got the soft copy from him. By the time I finished it, it was like being born-again. I began to seriously think about doing his peak performance course and googled reviews for it, that was how Denise Shull's name came up and reviews for her book were also too good to ignore so I bought it.

I am defo doing those courses o, it is a lot cheaper than handing out my money to brokers abeg grin


I know that "aha" feeling. I found the peak performance course very intriguing, definitely a good investment for the serious investor/trader but will require some free time for full concentration.

Will plan to get it, perhaps the December holidays will be a good time to 'reprogram' myself. So next year my plan to branch out into options and stocks fully can be smooth. Saw the books in my box. Gracias!

onlineresource: you all need to watch this video...

Followed the series back in 2009, definitely an eye opener.
Re: Forex Trading - Season 13 by ayox2003: 10:58am On Aug 14, 2013
WildChild00: 30 mins ago.
Sell Gbp/Usd @ 1.5400
SL 1.5460
TP 1.5420

Boss,

I believe you need to read/google about risk reward ratio. Your SL/risk (in pips) is greater than your TP/reward (in pips). It should be the other way round so as to minimise risk. *peepin' Tom*


Frawzey
Re: Forex Trading - Season 13 by mancol(m): 11:03am On Aug 14, 2013
@naijababe, pls help send the e-book to me at eluwacollins@yahoo.com. More pips to ur account!





naijababe: Bullish divergence developing on EA on the daily tf. EU finally rejected the 61.8% level on the weekly, it could be mission to 1.311xx, I am fully loaded up on EA otherwise, I'd be shorting EU just about now with a 50 pip stop.

US oil went from +101 to -7 pips undecided, holding my shorts, if there is any dabaru my sl will protect me. I won't even bother to look at the charts until after the crude inventory tomorrow.
Re: Forex Trading - Season 13 by Nobody: 11:05am On Aug 14, 2013
XHTML:

I know that "aha" feeling. I found the peak performance course very intriguing, definitely a good investment for the serious investor/trader but will require some free time for full concentration.

Will plan to get it, perhaps the December holidays will be a good time to 'reprogram' myself. So next year my plan to branch out into options and stocks fully can be smooth. Saw the books in my box. Gracias!



Followed the series back in 2009, definitely an eye opener.

Mehn! Options kwa?! Some one encouraged me a while back to give options ago after reading some texts, I decided that Imma stick to what I am doing. The timing element of options was too scary for me but I suppose you can learn it if you really wanna. Me, I am sticking with US oil, na hin go dash me my own millions grin

@ Thread, closed my oil short at +4pips this morning. I am standing aside until crude inventory release, look out for break out of 107.34 or 105.20 ...............Still holding EA long from last night, there is a bullish divergence on the daily plus a rejection of the 38.5% level on the same tf.
Re: Forex Trading - Season 13 by onlineresource: 11:05am On Aug 14, 2013
WildChild00: 30 mins ago.
Sell Gbp/Usd @ 1.5400 SL 1.54600 TP 1.54200

So you are willing to risk 60pip for just 20pips target.... undecided undecided undecided
Re: Forex Trading - Season 13 by onlineresource: 11:08am On Aug 14, 2013
naijababe:

Mehn! Options kwa?! Some one encouraged me a while back to give options ago after reading some texts, I decided that Imma stick to what I am doing. The timing element of options was too scary for me but I suppose you can learn it if you really wanna. Me, I am sticking with US oil, na hin go dash me my own millions grin

@ Thread, closed my oil short at +4pips this morning. I am standing aside until crude inventory release, look out for break out of 107.34 or 105.20 ...............Still holding EA long from last night, there is a bullish divergence on the daily plus a rejection of the 38.5% level on the same tf.

okay naa.... we go join you to in making the million.... smiley smiley smiley
i don rectify my messenger now... my internet explorer was offline, thats why it wasnt connecting
Re: Forex Trading - Season 13 by WildChild00(m): 11:10am On Aug 14, 2013
ayox2003:

Boss,

I believe you need to read/google about risk reward ratio. Your SL/risk (in pips) is greater than your TP/reward (in pips). It should be the other way round so as to minimise risk. *peepin' Tom*


Frawzey

Like the saying goes, "One man's meat is another poison" in forex there are different ways to kill a bird.
One hour ago, I entered @ sell Gbp/Usd @ 1.54400 SL 1.54600 TP 1.54200
Re: Forex Trading - Season 13 by Nobody: 11:12am On Aug 14, 2013
@ayox and OnlineR the guy just made an error matb while rushing. the price is below the SL and TP which is abnormal for a sell position. mayb his TP was suppose to be 1.5320 and not 1.5420.... grin
Re: Forex Trading - Season 13 by Nobody: 11:20am On Aug 14, 2013
iheanyiebeneze: Am getting dangerous emails this days. Be careful on how you drop your email in this public place.NEVER download anything sent to you from unfamiliar source,because immediately you do that, all your information is HACKED.
@naijababe take note.

Oga mi, na so o, I had to create a new email just for NL purposes, from getting strange friendship requests to bank alerts from institutions that don't even know I exist undecided Awon boys are not smiling rara o angry

1 Like

Re: Forex Trading - Season 13 by ayox2003: 11:23am On Aug 14, 2013
WildChild00:

Like the saying goes, "One man's meat is another poison" in forex there are different ways to kill a bird.
One hour ago, I entered
sell Gbp/Usd @ 1.54400
SL 1.54600
TP 1.54200

Ema binu simi Sir.

OliverPin: @ayox and OnlineR the guy just made an error matb while rushing. the price is below the SL and TP which is abnormal for a sell position. mayb his TP was suppose to be 1.5320 and not 1.5420.... grin

Okay. I think I erred too. But the risk-reward ^ aint also good enough, zactly 1:1.


Frawzey
Re: Forex Trading - Season 13 by omejeo: 11:27am On Aug 14, 2013
pls nijababe rememenber me poampearl@gmail.com thank ma
Re: Forex Trading - Season 13 by onlineresource: 11:37am On Aug 14, 2013
naijababe:

Oga mi, na so o, I had to create a new email just for NL purposes, from getting strange friendship requests to bank alerts from institutions that don't even know I exist undecided Awon boys are not smiling rara o angry

i have like 7 emails that i use... each for different purposes that they both serve....
Na because of security too na...
One suppose wiseup with all this hackers wey one hack persons laptop...
Re: Forex Trading - Season 13 by onlineresource: 11:39am On Aug 14, 2013
i already missed a buy entry on gold today at 1315...

i just dey vex now and just watching the chart...
though i dont think this buy will still get back to 1315 area againg...

Anyways... i will have to wait till i get another entry...
Re: Forex Trading - Season 13 by rozayx5(m): 11:56am On Aug 14, 2013
rozayx5: sold EURNZD cool


though EA looks bullish, but this setup is tempting tongue
grin
grin

Re: Forex Trading - Season 13 by omejeo: 12:10pm On Aug 14, 2013
pls house which way is ejpy heading to iam seeing south but bit confuse
Re: Forex Trading - Season 13 by Nobody: 12:14pm On Aug 14, 2013
omejeo: pls house which way is ejpy heading to iam seeing south but bit confuse
i cannot categorically tell you one now but after the close of this current 4hr candle we will automatically see directions on the Jpy pairs. Just what i think
Re: Forex Trading - Season 13 by rozayx5(m): 12:18pm On Aug 14, 2013
hmmm 2nd TP hit too shocked shocked shocked

170 pips total
Re: Forex Trading - Season 13 by TheShootist(m): 12:19pm On Aug 14, 2013
Pls feel free to critique the trade o! We will be learning together noni grin Stop loss below the pink line. RR around 1:1. Super traders start from 1:3 (better reward for your risk)

Re: Forex Trading - Season 13 by XHTML: 12:36pm On Aug 14, 2013
naijababe:

Mehn! Options kwa?! Some one encouraged me a while back to give options ago after reading some texts, I decided that Imma stick to what I am doing. The timing element of options was too scary for me but I suppose you can learn it if you really wanna. Me, I am sticking with US oil, na hin go dash me my own millions grin

@ Thread, closed my oil short at +4pips this morning. I am standing aside until crude inventory release, look out for break out of 107.34 or 105.20 ...............Still holding EA long from last night, there is a bullish divergence on the daily plus a rejection of the 38.5% level on the same tf.

grin Reminds me of an FX trader that once told me he needed a good broker that could easily handle 'large volumes'. The volume he spoke of shook me. We'll all get there sooner!

Been planning on 'diversifying' from next year. Options is exciting but the risk is real - even worse when you include the complexity. The binary options (which I've got some experience with) is a bit easier to understand. The others are quite complex and need a bit of studying to get the hang of.

Moved my SL to BE on my oil short, I'm up 44pips. I think you should've left it on, A test of the daily support @ 105.64 is likely.
Re: Forex Trading - Season 13 by Nobody: 12:37pm On Aug 14, 2013
The Shootist: Pls feel free to critique the trade o! We will be learning together noni grin Stop loss below the pink line. RR around 1:1. Super traders start from 1:3 (better reward for your risk)

Good set-up there but pay attention at 94449 area, there'a a secondary resistance there, if it scales that area then your tp should be hit. Goodluck
Re: Forex Trading - Season 13 by saudatu(m): 12:37pm On Aug 14, 2013
fxbomovi: . Sent

Thank you sir.
Re: Forex Trading - Season 13 by Nobody: 12:46pm On Aug 14, 2013
XHTML:

grin Reminds me of an FX trader that once told me he needed a good broker that could easily handle 'large volumes'. The volume he spoke of shook me. We'll all get there sooner!

Been planning on 'diversifying' from next year. Options is exciting but the risk is real - even worse when you include the complexity. The binary options (which I've got some experience with) is a bit easier to understand. The others are quite complex and need a bit of studying to get the hang of.

Moved my SL to BE on my oil short, I'm up 44pips. I think you should've left it on, A test of the daily support @ 105.64 is likely.


E just dey do me one kain because I had a number of trendlines hanging about so I decided to stand aside, no one loses money by standing aside o jare. Make 'FOMO' no kon cause katakata.

On options, after reading 3 books and the greeks were still giving me a headache, i just fashy o but who knows I may try it again after i don hammer wella grin
Re: Forex Trading - Season 13 by XHTML: 12:49pm On Aug 14, 2013
The Shootist: Pls feel free to critique the trade o! We will be learning together noni grin Stop loss below the pink line. RR around 1:1. Super traders start from 1:3 (better reward for your risk)

Ah, took this trade a couple hours ago and I'm up 14pips. If it can clear the 0.94xx resistance as naijababe rightly said, I reckon we'll be set for a rally to 0.958x (which is where I have my TP) and potentially 0.96xx.

My SL is 103pips flatout.
Re: Forex Trading - Season 13 by rozayx5(m): 12:52pm On Aug 14, 2013
naijababe:

E just dey do me one kain because I had a number of trendlines hanging about so I decided to stand aside, no one loses money by standing aside o jare. Make 'FOMO' no kon cause katakata.

On options, after reading 3 books and the greeks were still giving me a headache, i just fashy o but who knows I may try it again after i don hammer wella grin

grin grin
Re: Forex Trading - Season 13 by TheShootist(m): 1:48pm On Aug 14, 2013
naijababe:

Good set-up there but pay attention at 94449 area, there'a a secondary resistance there, if it scales that area then your tp should be hit. Goodluck

XHTML:

Ah, took this trade a couple hours ago and I'm up 14pips. If it can clear the 0.94xx resistance as naijababe rightly said, I reckon we'll be set for a rally to 0.958x (which is where I have my TP) and potentially 0.96xx.

My SL is 103pips flatout.

Thanks Bosses. Will be watching the level.
Re: Forex Trading - Season 13 by XHTML: 1:53pm On Aug 14, 2013
naijababe:

E just dey do me one kain because I had a number of trendlines hanging about so I decided to stand aside, no one loses money by standing aside o jare. Make 'FOMO' no kon cause katakata.

On options, after reading 3 books and the greeks were still giving me a headache, i just fashy o but who knows I may try it again after i don hammer wella grin

The uncertainty surrounding the quantitative easing is causing these choppy markets we're seeing.

The terms sounded strange at first (Call, put, strike price, Delta and all those). Been doing the basic binary options - (mainly currencies and commodities). It's fairly easy to scale those, since one point above (or below) your strike price is all you need to close in profit. Still studying and testing small amounts on the regular options - that's a whole new level.

I don't suppose you've seen this interview with a succesful options trader who managed to get the hang of it quickly:

https://www.youtube.com/watch?v=cXy9HoWX0es

Hopefully before next year, I'll have 'reprogrammed' myself with the "Peak Performance" course to break into new markets. smiley

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