Thanks capitals. I will check with my bank regarding the form A. I have been trading with foreign brokers. Im still not comfortable with nigerian brokers. And yes we are professionals not fraudsters. Will go to my bank today

Capitals:

Here is an excerpt from the press release

''For foreign currency cash lodgments made prior to the date of this circular, the account holder has the option to either withdraw his or her foreign currency cash or the Naira equivalent. For the avoidance of doubt, only wire transfers to and from Domiciliary Accounts are henceforth permissible''

Haven't made any withdrawals since the press release, but what I make of it is, its either you get your dollar out or its naira equivalent. (if you withdraw via bank wire) remember the rationale behind it is excess dollars with the banks which is really worthless to them is cbn is not accepting it from them as readily as they did in time past. hence they are trying to reduce the worthless paper in their vaults.

Deposits?
Havent done this in a while but I think there should be a window if you ll be wiring out judging by this excerpt from same press release

''The CBN advises individuals that wish to source foreign currency for eligible and legitimate purposes such as BTA, PTA medical, mortgage, school fees, goods etc. to do so through recognized channels with the use of Form ‘A’ for “invisible” and Form ‘M’ for “visible” transactions.''

All of these are subject to verification from your bank, but there is ALWAYS a LEGITIMATE way around these things, we are not fraudsters or involved in shady deals but professionals

Just my take anyway

ephisi:
Yes oh, pls more light please. Is my dom account useless now? Can I still fund my foreign trading account?

I had a keen conversation with a friend of mine last night. He manages one of the Zenith Bank branches here in the FCT.

We had a long conversation because I posed questions to him in different ramifications about deposits to domiciliary accounts. In a nutshell, according to him, domiciliary accounts are now nearly useless. CBN don dey get hot temper these days sha

People keep repeating this question ignoring old answers.

If you are depositing money in your dom account that will just sit there, that is when you won't be allowed. If you are depositing money solely for the purpose of being wired for a legitimate reason like paying school fees, forex, etc. there is no limitation. For withdrawals, you are expected to go and withdraw the money as soon as it hits your account or convert it to naira through the means supported by your bank.

Makes me wonder if people asking are dom account holders or people still wishing to open one.. Otherwise why not pick up a phone and call someone at your bank or walk there yourself?

Thanks brian?

brainbucks:


ForexTime has been excellent for me so far, with offices in Lagos and Abuja.

I would give them 100% but I'll leave it at 95% reliability because my withdrawal to debit card since last Friday still has not showed up.

jorel1:
#EURUSD , if the feds intends to increase rate soon, its only logical to join the band wagon with the buy and hold the USD, the New high created on the EURUSD could be a significant high for the next few months or years as usual just my guess.

brother,,,,what you saying on eur.usd fundamental. i want to BUY the pair ,,,the candle price support the BUY ACCORDING TO MY CHART

currentprice:

brother,,,,what you saying on eur.usd fundamental. i want to BUY the pair ,,,the candle price support the BUY ACCORDING TO MY CHART

am with you on today's NFP Sir i believe GBPUSD is also in support after the super thursday news.

Considering USDJPY and EJ. For now,
But will move into EU and GU, usdcad , if "OKUN's law take place today as a result of the release of the fundermentals.

ephisi:
Thanks capitals. I will check with my bank regarding the form A. I have been trading with foreign brokers. Im still not comfortable with nigerian brokers. And yes we are professionals not fraudsters. Will go to my bank today

actually doing bussinessa as a forex trader just got sweeter and easier cos you dont have to be withdrawing your cash to convert to naira, all you need to do is to transfer from your Dom account to your corresponding Naira account and if you need cash in your dam account, you simply transfer from you naira account to your dom...but this is with a caution...the fund in you dom cannot be withdrawn but only wired

currentprice:


brother,,,,what you saying on eur.usd fundamental. i want to BUY the pair ,,,the candle price support the BUY ACCORDING TO MY CHART

well, technically buying the #USD means selling the EURUSD ..which i meant long term.
about today, anything >200k is still bearish for EURUSD

beejaay:

actually doing bussinessa as a forex trader just got sweeter and easier cos you dont have to be withdrawing your cash to convert to naira, all you need to do is to transfer from your Dom account to your corresponding Naira account and if you need cash in your dam account, you simply transfer from you naira account to your dom...but this is with a caution...the fund in you dom cannot be withdrawn but only wired

There's nothing sweeter about it!

The rate banks convert for means that they'll be reaping the hell out of us - steadily.

I prefer writing my dollar cheques and cashing it. Plus what could be sweeter than the days I give my girlfriend a cheque in dollars for her to go cash her stipends? Abeg dem don rob me jhoor...

Today’s NFP Employment Change release is forecasted at 226K while the Unemployment Rate is expected to be at 5.3%. If we get a significantly lower release on the NFP (154K or worse) and slightly higher Unemployment Rate (5.3% or more), I´d be looking to SELL the USD against stronger currencies as speculation for Feds to potentially delay the timing for the first rate hike. On the other hand, if we get a strong NFP release (294K or better) and the Unemployment Rate falls or remain at 5.3%, USD could strengthen and I would BUY USD against other weaker currencies.
If we get a conflicting release, then well wait and see how the market reacts first. If there is an overwhelming sentiment driving the market, well get plenty of opportunities for an entry if we just wait for 5 minutes after the release; you´ll get a much clearer view.

NFP Trading Strategy
Let´s talk about how to trade this release: We´ll wait for the numbers to come out but continue to hold on a trade, Even if we get our tradable figures (294K to 154K). Wait for a possible revision of the previous release number of 223K, and market usually overreacts with the Revision and chances favor that a solid trade will present itself if we don’t get a conflicting releases between the revision and the actual release; at this point, still stay out of the market.
Then the next step is to wait for the Unemployment Rate, which is expected to be at 5.3%. If the Unemployment Rate were to surprise higher, we’ll have to make a decision based on the market sentiment coming into this release… Of course, if Unemployment rate were to fall below 5.0%, then we should see a surge in USD as traders speculate Fed accelerate rate hiking process.
After all of the numbers have been released, wait for the market to push and wait patiently for a decent retracement before getting in. Look for recent support/resistance areas for entry as a high impact news with various components are extremely volatile, and those who are patient will always get a chance to enter with a much better entry.

jorel1:


well, technically buying the #USD means selling the EURUSD ..which i meant long term.
about today, anything >200k is still bearish for EURUSD

i knew you looking to sell eur.usd the reason i bold quote the part ,,,my chart is giving me a buy signal that was why i ask if you still going to buy dollar (sell eur.usd)..... already in the trade anyway

currentprice:


i knew you looking to sell eur.usd the reason i bold quote the part ,,,my chart is giving me a buy signal that was why i ask if you still going to buy dollar (sell eur.usd)..... already in the trade anyway

Based on the weekly chart ,the the sell wagon already took off from #1.1447 just waiting for a right entry to sell, result from todays NFP will determine if it the EURSD price goes up to find a good sell entry for me...if result says otherwise to sell then i sell from current price after todays release.

If you are already in a buy (EURUSD) then stay with it ,the outcome of the News will determine if you profit from the buy or profit from a sell.

1 minute to impact...

jorel1:

Based on the weekly chart ,the the sell wagon already took off from #1.1447 just waiting for a right entry to sell, result from todays NFP will determine if it the EURSD price goes up to find a good sell entry for me...if result says otherwise to sell then i sell from current price after todays release.
If you are already in a buy (EURUSD) then stay with it ,the outcome of the News will determine if you profit from the buy or profit from a sell.

1 more minute to go,,,,let see if the candle price will fail this time

We no dey see una again siiiiince 1.30
Hope say una don hammer o
Oya it is testimony time. But lamentations may also be entertained lol

brainbucks:
We no dey see una again siiiiince 1.30
Hope say una don hammer o
Oya it is testimony time. But lamentations may also be entertained lol

hammer for pocket abi hammer for head well, either ways, all na hammer.

Sell usdcad on any strength from here, 1.3180 for a 200pips.

Eu is getting to buy zone.


Remember;
1. Experience is the best teacher, and Practice makes perfect.
2. It is possible to make weekly 20% profit ROI. You only need 3 alerts per week.
3. WE MAKE MONEY HERE, hit this http://www.forextime.com/?partner_id=4900129 or 08039469395 or 09097156657 or nostupor@yahoo.com
4. Follow my daily alert here and make your dollars free of charge

If SCALPERS are here now they should wait for a signal at close of this hour, (mfi indicator) strategy. 1h tf.
RSI =14 1h tf tried today, see how it halted all the moves by NFP today. Its like this summer will be for RSI

$EURUSD I predict we may see 108 at some point today, starting now it will be a glide down to 105 until Sep. On Rate rise 102-103 then parity

scalping strategy failed.
Am sorry. Lets wait for another one, next week.

iheanyiebeneze:
If SCALPERS are here now they should wait for a signal at close of this hour, (mfi indicator) strategy. 1h tf.
RSI =14 1h tf tried today, see how it halted all the moves by NFP today. Its like this summer will be for RSI

$EURUSD average staying >200K per month job added!Looks like a sign of a healthy economy? No reason for not raising rates now

#GBPAUD, officially bearish for the next couple of weeks i suppose

currentprice:



1 more minute to go,,,,let see if the candle price will fail this time

i love technical ,,,,once you know how to play with the chart,,, all you need to add on is "REMAIN CALM" news will come and fade out with time,,,,,,, candle price action will prevail at the end

Eur.usd call

currentprice:


i love technical ,,,,once you know how to play with the chart,,, all you need to add on is "REMAIN CALM" news will come and fade out with time,,,,,,, candle price action will prevail at the end

Eur.usd call

Only you just dey enjoy your gbedooo by yuaself.

I do agree with you here again though, cos I simply just love to luv the technical puzzles in those charts

jorel1:
sell GBP, now

#GBPAUD spike entry down 350 pips already , staying with it till i find a good reason to buy
#EURUSD selling on current retracement price until breakeven or heaven knows when

$EURUSD back to month open 1.0970...

currentprice:


i love technical ,,,,once you know how to play with the chart,,, all you need to add on is "REMAIN CALM" news will come and fade out with time,,,,,,, candle price action will prevail at the end

Eur.usd call

all trade close on eur.usd on positive note to stand clear of the weekend

until eur.usd move on top of 1.1000 to buy again next week otherwise i will stay clear of BUY....which ever way candle price will tell next action ....

Weekend Forex trading analysis(Fundamental, Technical and Sentimental) in progress....


MY SECRET OF REVERSAL DURING NFP.

The reversal of EURUSD., USDCAD by OKUN's Law.

That downward movement of eu during NFP and UR with subsequent reversal after the result was caused by OKUN's law.
Next time NFP is good but UR is not good or barely same with (expected level),(vice versa), Whatever movement MUST be reversed.

Note;
Your 4h chart MUST support that opposite movement for the reversal to be effective.
Go to history and see things for yourself.
It took my some years to analyse and discover this secret.
So don't forget it next time.

Remember;

1. Experience is the best teacher, and Practice makes perfect.
2. It is possible to make weekly 20% profit ROI. You only need 3 alerts per week.
3. WE MAKE MONEY HERE, hit this http://www.forextime.com/?partner_id=4900129 or 08039469395 or 09097156657 or nostupor@yahoo.com
4. Follow my daily alert here and make your dollars free of charge.
5. Forex is purely repeatability of Past Price Actions...

beejaay:

actually doing bussinessa as a forex trader just got sweeter and easier cos you dont have to be withdrawing your cash to convert to naira, all you need to do is to transfer from your Dom account to your corresponding Naira account and if you need cash in your dam account, you simply transfer from you naira account to your dom...but this is with a caution...the fund in you dom cannot be withdrawn but only wired

Sorry bro. Its impossible to transfer naira to your dom account. Hencefort your dom account is useless except you are withdrawing funds from your broker. The only way to fund your account is if another bank doeas a wire transfer. Right now its impoosible to deposit funds in your dom account. This is why im am looking for the best nigerian broker. Please anyone can recommend the best 3 nigerian brokers?

iheanyiebeneze:
Weekend Forex trading analysis(Fundamental, Technical and Sentimental) in progress....
Remember;


1. Experience is the best teacher, and Practice makes perfect.
2. It is possible to make weekly 20% profit ROI. You only need 3 alerts per week.
3. WE MAKE MONEY HERE, hit this http://www.forextime.com/?partner_id=4900129 or 08039469395 or 09097156657 or nostupor@yahoo.com
4. Follow my daily alert here and make your dollars free of charge

Has #2 ever been in doubt? Last Tuesday evening I experimented with $500 to see if 100% daily is intentionally possible - not fluke.

It so happens that it always is possible with forex. By Wednesday night it was $1000+. Thursday evening I was in church when I closed at $2010. Friday morning clocked over $4000. I withdrew a total of $2950 that same day and I remember I had $1400 left that morning. I traded again until around 1.30 p.m and I closed with exactly $1715.

And then I lost that $1715 on Monday! It was an experiment so no hard feelings