Make mehn dey try rest oh because body is not a firewood *in jeniffa's voice* .. restful weekend to everyone ..

Greetings house...will quote my last posts and update the house on the eurusd and usdjpy moves.
Have a nice weekend.

wuyexzy:
hmmm...though, i never got a leg-up i walked my ass straight up but i got inspired majorly from this thread. oga feshizzyy hope you wont leave.

Sadly, we still have to leave someday,
That's the reality,
But I would surely be here for a long run,
And hopefully bring in my little enlightenment to the house,
I can't relay my skills alone to a foreign land,
I have to do it here too.

I'm currently not active trading yet because I got some offline business to handle and requires my full attention.
As soon as I get on board,
Trade alert go full everywhere.


My advise to desperate newbies,
Please be a researchist first,
I advise you put your money in bank deposit and T-billz pending when you finish learning and ready,
Never let your money be idle,
Learn and earn


Regards,

wamiikechukwu:


What are these indicator(s)?

I once just an indicator but i noticed it lag alot

Rsi, stochastics and macd. I have special settings on these indicators and they are not slow like rhe traditional settings. I also have MA and special settings on them. O can know when a currency pair is about to dip.

Okuda:


Rsi, stochastics and macd. I have special settings on these indicators and they are not slow like rhe traditional settings. I also have MA and special settings on them. O can know when a currency pair is about to dip.

please do share your settings and system,I use RSI, macd, CCI, EMA....but mainly price action.

incredibleace:


please do share your settings and system,I use RSI, macd, CCI, EMA....but mainly price action.

i use priceaction (bro come back na, dunno were hez gone to, on vacation maybe) too, trendline S&R.
plus 70% attention on weekly and daily TF
and 30% on TF Lower than 4H. provided therez was no inflammable event at that period.

VeeVeeMyLuv:

i use priceaction (bro come back na, dunno were hez gone to, on vacation maybe) too, trendline S&R.
plus 70% attention on weekly and daily TF
and 30% on TF Lower than 4H. provided therez was no inflammable event at that period.

I also use S&R, weekly TF way too long for me,1hr to daily is OK, but I do check the smaller TF sometimes

incredibleace:


please do share your settings and system,I use RSI, macd, CCI, EMA....but mainly price action.

Hmnm. With this your price action knowledge you for turn to god when i give you my system. Im also learning price action now from a book i am reading.Anyway send a message i would give you the info via email.

JLINE:
Sell limit on eurusd @ 1.0890 with TP at 1.0820 and 1.05**...stop loss is 20pips.
I have 2 sell trades here personally.

Only trades running now with 234 pips each of the trades... Outlook is still the same with price headed to 1.0584 or more likely 1.03**...might update when I take the buy trade of this pair or not.
Usdjpy hit 112.** but still seems its headed higher to 113.**
Thought to update,oya going back now.
SHALOM

sell cad/jpy if you can. aud/jpy sell still ongoing with aud/usd hitting t.p.observe your due dilligence like some do say.

If y trade indices, I will advise you buy usindex. Bitcoin still continue its long move to 1200.

Seen some mentions recently. Hope everyone cool. Been busy travelling. Had problem with my broker about manipulation which made my account locked and I refused to trade with them again. Requested for my balance and they were playing prank. Resolved recently. I have to shop for new broker and I think am OK now. Hopefully more nice trades this month to all.

priceaction:
Seen some mentions recently. Hope everyone cool. Been busy travelling. Had problem with my broker about manipulation which made my account locked and I refused to trade with them again. Requested for my balance and they were playing prank. Resolved recently. I have to shop for new broker and I think am OK now. Hopefully more nice trades this month to all.

Good to see you back mate!
That broker want to spoil our million dollar dream!
Abeg wettin be the broker, make we no go enter that kein broker!

Regards!

Feshizzy:


Good to see you back mate!
That broker want to spoil our million dollar dream!
Abeg wettin be the broker, make we no go enter that kein broker!

Regards!

Lol . bro Na my peppestone oooo. . I closed my account with them. They wan use experience cheat me while i no dey do abitrage. After that, they now spike price against my entries. ( i even created complaint thread on ff. Later resolved but not trading with them any more. If i need any Australian broker, i think globalprime will do the job. That will be later anyway.
Now with exness and tickmill Uk. If I make some decent money now, I will be creating multiple accounts and be playing with them individually. Hopefully I will advance from their.

For all newbie in forex trading, read this.
http://www.westentrepreneur.com/367/5-important-factors-to-consider-when-choosing-a-forex-broker

priceaction:

Lol . bro Na my peppestone oooo. . I closed my account with them. They wan use experience cheat me while i no dey do abitrage. After that, they now spike price against my entries. ( i even created complaint thread on ff. Later resolved but not trading with them any more. If i need any Australian broker, i think globalprime will do the job. That will be later anyway.
Now with exness and tickmill Uk. If I make some decent money now, I will be creating multiple accounts and be playing with them individually. Hopefully I will advance from their.

Fxpro,oando,fxcm and gkfx are good brokers I can remember now.
Try avoiding entering trades and leaving trades between a few minutes cos the broker will place you in the B-book which is not good and those scenarios you listed will occur.

priceaction:

Lol . bro Na my peppestone oooo. . I closed my account with them. They wan use experience cheat me while i no dey do abitrage. After that, they now spike price against my entries. ( i even created complaint thread on ff. Later resolved but not trading with them any more. If i need any Australian broker, i think globalprime will do the job. That will be later anyway.
Now with exness and tickmill Uk. If I make some decent money now, I will be creating multiple accounts and be playing with them individually. Hopefully I will advance from their.

Nicely done mate,
Sorry for the short comings,
Damn! And pepperstone used to be top best back then!
This is really an eye opener oo,
All is well,
Thanks to you I now know better,
Abeg una wein get heavy duty money for broker wein dey deliver abeg come share with us oo!
It is wise not to put all your eggs in one basket though,
I don't really on one broker alone,
Armada used to be top notch till they sold out to tickmill,
I do own an account with them though!
But haven't really traded with them so far!

Our oga J, has done the needful!

JLINE:

Fxpro,oando,fxcm and gkfx are good brokers I can remember now.
Try avoiding entering trades and leaving trades between a few minutes cos the broker will place you in the B-book which is not good and those scenarios you listed will occur.

You are right bro. How ur trading progress?

priceaction:

You are right bro. How ur trading progress?

Going gently and surely.

Feshizzy:


Nicely done mate,
Sorry for the short comings,
Damn! And pepperstone used to be top best back then!
This is really an eye opener oo,
All is well,
Thanks to you I now know better,
Abeg una wein get heavy duty money for broker wein dey deliver abeg come share with us oo!
It is wise not to put all your eggs in one basket though,
I don't really on one broker alone,
Armada used to be top notch till they sold out to tickmill,
I do own an account with them though!
But haven't really traded with them so far!

Our oga J, has done the needful!

Yes oo. I learnt my lesson recently, may be they thought I was cheating, ( I don't think I am a threat to them anyway, I don't trade heavy lots in few seconds ). I have made decent profits for a while and never had major problems until late last year when I started noticing wide slippage only on their portal. Then, some times this year, got some shocker of the year with over 30 pips slippage on bid price during one news I never seen coming. Never reach my stop loss though, but was taken out. That was the Genesis of my loggerheads with them. They were claiming it was a feed from LP. Only them alone had similar problem according to comments on ff, but I was blamed for trading close to red news because brokers can use the opportunity to manipulate. Since that time I don wise up. I will never trade close to red news or leave trade before red news ( that was what happened in my case). I nearly give up for trading futures or options, though I never trade them except ger30.
After I make decent money now, I will create multiple accounts and divert the money and play with them individually. Hope it will work for me.
Many traders have left fx tradings unlike what we used to see around 2010-2015 or so. Many brokers have very limited returns yearly now and they are looking for everything to get the money from you those that are still in the game so that they don't go to insolvency. The market is so sluggish in recent months that even normal ATR predictions dont work anymore, leaving us with few pips to battle with daily. So only patience for right movement and good management will do the job.
Now If you make decent cash, they turn against you, if you keep loosing they be your friends forever.

priceaction:

Yes oo. I learnt my lesson recently, may be they thought I was cheating, ( I don't think I am a threat to them anyway, I don't trade heavy lots in few seconds ). I have made decent profits for a while and never had major problems until late last year when I started noticing wide slippage only on their portal. Then, some times this year, got some shocker of the year with over 30 pips slippage on bid price during one news I never seen coming. Never reach my stop loss though, but was taken out. That was the Genesis of my loggerheads with them. They were claiming it was a feed from LP. Only them alone had similar problem according to comments on ff, but I was blamed for trading close to red news because brokers can use the opportunity to manipulate. Since that time I don wise up. I will never trade close to red news or leave trade before red news ( that was what happened in my case). I nearly give up for trading futures or options, though I never trade them except ger30.
After I make decent money now, I will create multiple accounts and divert the money and play with them individually. Hope it will work for me.
Many traders have left fx tradings unlike what we used to see around 2010-2015 or so. Many brokers have very limited returns yearly now and they are looking for everything to get the money from you those that are still in the game so that they don't go to insolvency. The market is so sluggish in recent months that even normal ATR predictions dont work anymore, leaving us with few pips to battle with daily. So only patience for right movement and good management will do the job.
Now If you make decent cash, they turn against you, if you keep loosing they be your friends forever.

I quite will not agree with the bolded.
Firstly,many traders left during that period cos of losses and market uncertainty. Proof being that the volume now in the fx market has increased from its usual billion to trillion now I think but there is an increase, that's the message here.
Secondly,it actually depends on the type of broker you are using. Gkfx for example is a swiss bank that has a forex subsidiary also,so they don't need customers money to survive per se rather they get commission for every lot you trade.
Finally, let me explain how trades works... When you place a trade,the broker links it directly into the market in other to find a corresponding opposite trade to match it and the broker makes profit by the amount of lot you trade either you are profitable or not. The thing is it takes time for this auto matching to occur,so when you start taking trades with lesser time than they can match even their up line advises the broker to place you on a B-book trader cos now you are making money off the broker not longer the market which the broker can't take for long and they have to hunt you.

Question: have you ever heard a mid term trader or swing trader complained about this issues, I believe your answer is its rare but scalpers always complain try contemplating on that a little.

Note: All terms here have been simplified for easy communication and I am not trying to advertise any broker too. Thank you.
SHALOM

JLINE:

Fxpro,oando,fxcm and gkfx are good brokers I can remember now.
Try avoiding entering trades and leaving trades between a few minutes cos the broker will place you in the B-book which is not good and those scenarios you listed will occur.

Please what's a B-book

priceaction:

Lol . bro Na my peppestone oooo. . I closed my account with them. They wan use experience cheat me while i no dey do abitrage. After that, they now spike price against my entries. ( i even created complaint thread on ff. Later resolved but not trading with them any more. If i need any Australian broker, i think globalprime will do the job. That will be later anyway.
Now with exness and tickmill Uk. If I make some decent money now, I will be creating multiple accounts and be playing with them individually. Hopefully I will advance from their.

exness is good

JLINE:

I quite will not agree with the bolded.
Firstly,many traders left during that period cos of losses and market uncertainty. Proof being that the volume now in the fx market has increased from its usual billion to trillion now I think but there is an increase, that's the message here.
Secondly,it actually depends on the type of broker you are using. Gkfx for example is a swiss bank that has a forex subsidiary also,so they don't need customers money to survive per se rather they get commission for every lot you trade.
Finally, let me explain how trades works... When you place a trade,the broker links it directly into the market in other to find a corresponding opposite trade to match it and the broker makes profit by the amount of lot you trade either you are profitable or not. The thing is it takes time for this auto matching to occur,so when you start taking trades with lesser time than they can match even their up line advises the broker to place you on a B-book trader cos now you are making money off the broker not longer the market which the broker can't take for long and they have to hunt you.

Question: have you ever heard a mid term trader or swing trader complained about this issues, I believe your answer is its rare but scalpers always complain try contemplating on that a little.

Note: All terms here have been simplified for easy communication and I am not trying to advertise any broker too. Thank you.
SHALOM

I agree much more, especially some banks dont need retail traders to trade on their platform. But you know that many brokers dont even place majority of traders on A book initially. They dont even pass the trades to the LP especially those that loose consistently and those that do scalp often ( for that is where they can manipulate faster).
Anyway we are in for good purpose. We have better understanding now. WE will keep on doing what can bring in success. There is more money in fx. Wishing you green pipping month.
By the way, do you use target or you take what the market gives you without TP/SL

wamiikechukwu:


Please what's a B-book

At least you have seen , when choosing a broker, NO DEALING DESK , i.e STRAIGHT THROUGH PROCESS/ECN .THAT IS A BOOK. Direct to the LP without brokers interfering but just take on commissions.
While B book is dealing desk, market makers that might not go to LIQUID PROVIDERS or banks. Money lost belong to brokers. They use this for traders that are not experience and scalpers because they know sooner or later, you will loose the money. You are not trading the real market, but, most of the time demo , that will just indicate live.

A Book - used by ECN / STP forex brokers

ECN/STP brokers all use an A Book, they are intermediaries that send their clients' trading orders directly to liquidity providers or multilateral trading facilities (MTFs). These forex brokers make money by increasing the spread or by charging commissions on the volume of orders. Therefore, there are no conflicts of interest, these brokers earn the same amount of money with both winning and losing traders.

The B Book - used by Market Maker brokers
Forex brokers that use a B Book keep their clients' orders internally. They take the other side of their clients' trades, which means that the brokers' profits are often equal to their clients' losses. Brokerage firms are able to manage the risks associated with the holding of a B Book by using certain risk management strategies: internal hedging through the matching of opposite orders submitted by other clients, spread variations, etc. As the majority of retail traders lose money, the use of a B Book is very profitable for brokers.

That is why always good to trade on ECN/STP brokers or better still, swing trade.

priceaction:

At least you have seen , when choosing a broker, NO DEALING DESK , i.e STRAIGHT THROUGH PROCESS/ECN .THAT IS A BOOK. Direct to the LP without brokers interfering but just take on commissions.
While B book is dealing desk, market makers that might not go to LIQUID PROVIDERS or banks. Money lost belong to brokers. They use this for traders that are not experience and scalpers because they know sooner or later, you will loose the money. You are not trading the real market, but, most of the time demo , that will just indicate live.

A Book - used by ECN / STP forex brokers

ECN/STP brokers all use an A Book, they are intermediaries that send their clients' trading orders directly to liquidity providers or multilateral trading facilities (MTFs). These forex brokers make money by increasing the spread or by charging commissions on the volume of orders. Therefore, there are no conflicts of interest, these brokers earn the same amount of money with both winning and losing traders.

The B Book - used by Market Maker brokers
Forex brokers that use a B Book keep their clients' orders internally. They take the other side of their clients' trades, which means that the brokers' profits are often equal to their clients' losses. Brokerage firms are able to manage the risks associated with the holding of a B Book by using certain risk management strategies: internal hedging through the matching of opposite orders submitted by other clients, spread variations, etc. As the majority of retail traders lose money, the use of a B Book is very profitable for brokers.

That is why always good to trade on ECN/STP brokers or better still, swing trade.

wow thanks

priceaction:

I agree much more, especially some banks dont need retail traders to trade on their platform. But you know that many brokers dont even place majority of traders on A book initially. They dont even pass the trades to the LP especially those that loose consistently and those that do scalp often ( for that is where they can manipulate faster).
Anyway we are in for good purpose. We have better understanding now. WE will keep on doing what can bring in success. There is more money in fx. Wishing you green pipping month.
By the way, do you use target or you take what the market gives you without TP/SL

At the bolded, I always have a target and stop in place before the trade even comes into place or I place the trade but like what someone said the market is not static,after you define your TP always re-analyse the target as market could give you more or there might be a new target and the old one might be too far. This is the reason you hear traders say they were in the trade at some point profitable but later stop was hit after like 100pips move or some who say the market continued in their direction like more 100pips after the TP was hit...This could have been avoided if only they just did analyse after every significant move of the market.

On the other hand,if a trade hit my stop loss it clearly shows I entered a wrong trade or wasn't patient enough for criteria to be met and this happens a few hours after entering trade which I quickly re-analyse to get a better entry.
Thank you

JLINE:

At the bolded, I always have a target and stop in place before the trade even comes into place or I place the trade but like what someone said the market is not static,after you define your TP always re-analyse the target as market could give you more or there might be a new target and the old one might be too far. This is the reason you hear traders say they were in the trade at some point profitable but later stop was hit after like 100pips move or some who say the market continued in their direction like more 100pips after the TP was hit...This could have been avoided if only they just did analyse after every significant move of the market.

On the other hand,if a trade hit my stop loss it clearly shows I entered a wrong trade or wasn't patient enough for criteria to be met and this happens a few hours after entering trade which I quickly re-analyse to get a better entry.
Thank you

cool

Wamiikechukwu...do have in mind that the A-book broker or ECN brokers can create a B-book list...reason is when your trades do not have enough time for it to be sent like what priceaction said.This occurs mostly with scalpers.
Thank you

happy trading week... Happy to see you all here!!

FTA

BUY GBPJPY @137.50

SL @137.00
TP 1, 138.00
Long TP, 139.00

My yesterday markets. Over 100+ pips made and still going on til 139.00

oga price action you didnt just hit the nail on the head,you broke the head