honeric01: people should stop trading with money they cant lose.

Also stop trading with small capital if you are looking at earning a living from it, save yourself from unneccessary urge to trade. I'm talking from experience.

Trade with small capital only if you're ready to go long term + compounding!

Enough said!

Exactly how it is.

Trading small capital comes with a lot more stress - and money management is a lot difficult. With that "juicy" leverage most brokers throw in, greed always sets in and it's only a matter of days before you get tired of trading 0.00.. lots and earning peanuts - we all know what happens from there.

And again, demo accounts are easy to access. Why rush into live trading when you haven't gotten a sure footing? Do some more practice and save up a sizeable capital so once you begin trading live, you have the experience PLUS a decent "Account Margin".

You want to make some fast money, you're better off playing the lottery.

@learner1 you can see what the house has been saying is not different from the advice i gave you when you contacted me. i can't understand how you loss your capital within 2 days, this mean you have no good MM even if it was $100 left in your account using 0.01 lot i don't expect your account to have a margin call so soon. with 0.01 you need to get -1000 pips before margin call. if you are able to fund your account again and you want to be successful in this business no matter what system or strategy you use. the very first thing you need to learn and consider before placing any trade is MM take note pls.
Goodluck.

@learner1, do not give up, just grow up.

I have an open trade on AC but after being on profit,i saw SWAP -9 which reduced my number of pips.

what is the meaning of that pls

Hmmmmmmmmmmmmm, AudChf sell?

[/b][b]

learner1: Account goes ground zero. JPY and some signals frustrated my dream of becoming a forex trader.

@Onlineresources, am a poor guy I don't have that big amount you ask for training or signal otherwise I would not be here. If you can assist me financially or otherwise free anything at all is not bad to regain my fit I will appreciate ok. I know lots of of millionaires and billionaires here. Very sad sha to end this way. Bye all. Cheers.

From your post so far. Sorry to say that you didn't have any business trading live you really need to give ur self time to learn
1. Money managemt 2. Read more on ferex 3. Practice first on demo. Before even planing to go live again.

kenny1984: Seeing a positive divergence on the 4hr tf of EJ and UJ.Placed 2 LONG trades on EJ and UJ.Lets see how it goes.Considering using tight SL.

EJ,UJ and AJ LONG combined pips = 50 pips profit.Who is also looking at EU for a BUY, cos its finding support @ 1.2847 (Major suport).From current PA, going LONG is imminent on short term for a TP of 45 pips and second tp of 106 pips cos there is a major resistance @ 1.2959.

kenny1984:
EJ,UJ and AJ LONG combined pips = 50 pips profit.Who is also looking at EU for a BUY, cos its finding support @ 1.2847 (Major suport).From current PA, going LONG is imminent on short term for a TP of 45 pips and second tp of 106 pips cos there is a major resistance @ 1.2959.

closed all trades for a combined profit of 50 pips total. i wanna sleep.Not placing the EU long.wait till morning

Eu buy activated,target 20 pips,stop loss 20 pips,trade on +8 pips,let me see how it will go

Until you understand price action, I will advise you not to trade real fund, you will soon lose your fund if you keep relying on primary indicators within your mt4, you may only use indicator for direction confirmation and never entry

malachi2uk: I have an open trade on AC but after being on profit,i saw SWAP -9 which reduced my number of pips.

what is the meaning of that pls

AM STILL WAITING FOR REPLY PLS

malachi2uk: AM STILL WAITING FOR REPLY PLS

You kept the trade overnight right?

Swap arises due to the overnight interest rates for each currency being different. Since currencies are always traded in pairs, you always need to borrow one currency in order to buy another, so it follows that you have to pay interest on the loan, but you also receive interest on the currency you are holding. If the difference between what you pay and what you receive is positive, then you are eligible for a net swap credit. If the difference is negative, that is if you pay more interest than you receive, then your account will be debited the appropriate swap amount.

Most brokers use interbank overnight rates for their base calculations, update them daily, and then skim a little off the top. Other brokers update their rates only from time to time, and others still don't bother with the idea of swap at all. You will notice a lot of brokers claiming to be swap-free in order to attract Islamic clients who are forbidden from engaging in interest-bearing deals due to religious reasons.

There are also differences between how brokers display swap (i won't get into details here). Most brokers apply swap daily at New York close, and triple the amount on Wednesdays to make up for Saturday and Sunday when there is no trading, but there are exceptions - Oanda being a notable one.

Hope that helps.

Piponomics:
Like Naijababe said, welcome to trading. These people you see here have also crashed accounts. You just crashed one that is prolly around $200 and you want to give up. Personally, I crashed 5 accounts totalling over $5,000 before I got it right. Of course it will be hard for you if you don't have somewhere to get money from but yea you get the picture.
My advice will be for you to fund the account again with anything you can afford and get a system you will stick with through thick and thin. Then trade with microlots. Forget about living off the profits for now.
If you have the discipline, you'll turn that small money to large funds.
Some will disagree but trading live funds based on trade calls made by others is a recipe for disaster. It should be for crosschecking and nothing more.

WORD!.....Am buying EU

Yesterday trading was frustrated.I pray that God of pips be with every1 today

topsyn03: Yesterday trading was frustrated.I pray that God of pips be with every1 today

no it wasnt. everyday cannot be like monday. Thats forex 4u Good morning

vxtr: . I felt very sad after reading what u wrote up there, if life itself is not fair,why shud forex be easy for any newbie. No good thing in life comes easy bro,u ve got to understand that. Ultimately u will ve no one to blame but yourself if u ever give up. Imagine thomas edison giving up on inventing the light bulb that guy wuld ve gone down in history as a mediocre being deaf and dumb, he had to try 10,000 times before getting it right. Go ahead and fund that account again even if it is 10dollars,and for now only use 0.01 lot size. I wudnt advise u go back to demo cos u need to develop ur emotional intelligence which is only possible in a live account. If u don't mind I can teach u the little I know if u reside in lagos. I wish u best of luck. U are a potential great forex expert in the making if and only if u don't give in to defeat, ur breakthrough is closer than we can ever imagine.

chairman, my account is down by 50%. i don tire for the thing self. please if you no mind, i need a one on one as well. the thing don dey even affect my emotional balance self. thank God say na small money i take start. i for don hear am. my email is my nairaland handle at yahoo dot com

my uj target is 96.00. Pair currently at resistance 4hr. Watchim 4 continuatn or reversal signal.

Piponomics: Would want to make two requests please, let's all resolve to ignore that slowpoke posting the religious balderdash.. With every reply he gets encouraged. If everyone ignores him, he won't bother typing the drivel again.
Secondly, I would like to suggest that we make the seasons of the thread to be in accordance with the year. For example, since we are in 2013, we can stay in season 13 till the end of the year and open season 14 in January 2014. Afterall Seun has lifted the embargo on threads going above 100pages.
Just a suggestion though.
Once again, welcome everyone!

What's the consensus?

tp hit on au and gj.......49 and 339 pips consecutively........

au supports the bear. there's about 50-100 pips down to be picked on au.

As for jpy, all pointing down.

Uchf's got a date with 0.9550 @ least.

shorting ej and gj again

EU stop hit..

Want to thank you all for the words of encouragement. Never new you liked me this much. Well done all.

topsyn03: Yesterday trading was frustrated.I pray that God of pips be with every1 today

also at my end, loss part of my monday gain on the EN buy. hope the market settle soon to c good direction

endfx1:

WORD!.....Am buying EU

oga,abeg l am still waiting for the cross-over
trend MA indy(look like a stochastic) on your chart,the one l got from the link
was just a single line.
l sent you like 2 requests on this.my mail is yommito@yahoo.com
or you help me post it here.thanks bro

My pending buy limit on EJ is still open. Check the chart from previous post. Currently set to buy at 120.50, sl at 119.80, tp still undetermined but I am guessing it to be around 123.xx

naijababe: My pending buy limit . . . at 120.50, sl at 119.80, tp still undetermined but I am guessing it to be around 123.xx

Chei! This lady wan enter to the pip! I think 120.63 will be okay with SL @ 120.07

meshpips: Chei! This lady wan enter to the pip! I think 120.63 will be okay with SL @ 120.07

That sl is too tight based on my broker's prices. The low was 120.06 on my platform.

[quote author=naijababe]My pending buy limit on EJ is still open. Check the chart from previous post. Currently set to buy at 120.50, sl at 119.80, tp still undetermined but I am guessing it to be around 123.xx

am Glad my sense of discipline is getting better by the day been with the market all through but still my last trade was on monday... I just hope i get in the right trade when market"s volatile enough. I wish everyone luck and good morning

Ogboraph: you coorect BuyEURJPY@121.47-121.57,TP@122.91,SL@121.21

Bros take am easy with all this your signals. We are talking real money here ok. Is that what she said? Check her post well. Not that I depend on people signals again but is good to be cautious the signals dish out. Not trading sha. Thanks