NZDJPY.

NZDJPY is riding on a one legged bicycle.
Let the trades come to you.
There will always be opportunities.


Note the unfilled gap on the weekly.

I am monitoring this one.

EURUSD

EURUSD does not seem ready for a sustained rally yet.
The Macron gap still lies below.

Also, important demand still lies below.
Going to check demand zone.
Where we may see some reaction.

Guys Someone should open season 20.

Let’s End this season. Happy new year and merry Xmas in advance.

I started trading in January and I can tell you it’s a very rough journey.

Some months we smile other months we laugh at our mistakes.

The only thing in achieving something great is having a solid why?

So to new traders looking to trade the forex market, see if someone tells you its easy, know that person has spent years or months working on a strategy that suits him.

Also concerning Why?

If you are looking to trade the forex market because of money, then I’ll advice you get a job because the market may not bless new traders until they pay their tution fees(Blowing accounts)

Here are some reasons why you should be trading the forex market
1) Financial Freedom
2) lifestyle
3) Be your own boss
4) Compounding wealth.

Forex is not a get rich quick scheme, so let me share how I understand this business.

Take your forex account as a savings account where instead of saving to a bank for safety, you save and trade the forex market. At the end of a year, you could make 50% returns which you compound then one day, the returns will be able to take care of your bills...at this point you don’t need to work again.


Also why trading the forex market is worth it is because it gives you a platform to take care of your money...so in few years time, this funds will mature and take care of you.

My point is that you should have a solid WHY? before embarking on this journey.

It’s a rough one, but at the end it’s worth it.

Emmanuel Abolaji

Ps: this was typed on a phone and there could be typo errors.

Lol..calm down...
Let the year end first

[sup][/sup]

PipMarshall:

EURUSD

EURUSD does not seem ready for a sustained rally yet.
The Macron gap still lies below.

Also, important demand still lies below.
Going to check demand zone.
Where we may see some reaction.

Pictures speak louder

Actively studying and accumulating knowledge

The goal is to extract 1000 pips monthly.

And each time I encounter a road block

I tell my self

It is very possible.

Because right on this thread

I have seen extraction that eclipse that.

GladmanGoddey:
I think there are two ways to become a profitable trader, the easy way and the hard way. The easy way is by being mentored by a profitable trader who will teach you his strategy and help you become profitable whether paid or free but finding them is not that easy . The hard way is by learning it yourself using youtube, pdf etc and spending hours in front of your chart just looking at price and try to figure the way for yourself and it takes a long long long time but the good news is that it is worth it . You must love and have a passion for forex if not you will give up. Forex is simple but not easy but nothing good comes easy

100%, the hard way is more feasible, as it is very hard for a profitable trader to reveal his/her winning streak to u, that took him/her years to achieve for few dollars in d name of training.

What is worth doing at all, is worth doing well.

I've actually learnt a bit from you as well, quite valuable lessons to enable me secure profits and build accounts. We'd do stuff in time to come. I remain humble in the course.

infofirst:

Sincerely it is not easy and truly there is need to be mindful but it shd be done with some form of humility.
Life of we retail trader, we die there till December 31. Hopefully next year, I will close shop earlier too. The energy @saxy4c brought into my trading is amazing already. Can't wait to do better next year. @saxy4c unleash Abi ignite the sleeping giant in me.. Thanks for your checks at intervals too. I appreciate and God bless you.

MrUnder:




Actively studying and accumulating knowledge

The goal is to extract 1000 pips monthly.

And each time I encounter a road block

I tell my self

It is very possible.

Because right on this thread

I have seen extraction that eclipse that.

@MrUnder i think you should focus more on money management to me thats the holy grail in forex trading.
You might make 50 pips a month after winners and losers are subtracted and still end up winning.

Thanks for the commendation, I'm also learning and ready to fine tune my methods to enable me sustain my trading for the long run. Keep inspiring us to attain financial dominance. Definitely would have no time for the naysayers. Enjoy your holidays.

Shevychen2:

Oga trust me, I no get anything wey you wan learn Your risk profile dey make me squeeze face but as long as it works for you, fire on. Finding a strategy that works is the majority of the hard work in trading and you seem to have nailed that down.
Anytime sir.

Too much for me, but I'm only inspired to do more. You're doing a great job as well, with your dedication to learn and make progress, you would only get better.

Ummuaisha:

Saxy4c is an angel in human form, just on this platform we met and ever since he had offered to help me he had never demand a dime from me, I wish I open a live acct next month, but he advised I start now, I opened this acct on Friday and with his efforts and guidance the acct is wonderfully growing, everyone make loss in forex but only ensure your profit exceed loss, I traded the acct for two days and has 60% profit.

Probably should use the messaging function here.

ogashman:

I don't mind u adding me on WhatsApp .
Will be waiting for ur reply.

Funnily I used to think I couldn't teach, surprised you'd say this. I'm actually understanding certain things more as I look out to filter trades better so i try to shield you from excessive loss. So far I guess we're doing good, it can be better though. These times, the holiday period, are the worst times to trade in the year, then with the excessive political drama all around, any profits that can be made should be highly appreciated. Thank you for the kind words.

peteregwu:


True talk jare. I have met different kind of Forex traders that seems to be good but their shakara too much but this @saxy4c is just given it out and at the same teaching it. They would be jealous of him if they see him doing this as a hobby. More Forex skill to you sir @saxy4c

Thanks a lot, the only place I'm going to is the next season by God's grace. More profits to us.

maryjames9:
Great job @saxy4c. You are really doing an incredible work here. Hoping to continue seeing more of these amiable analysis, calls and contributions here.

guys this forum is the best forum on forex so far i have really learnt a lot from retail traders actually making it in forex,i actually tried live this year and blew the account like trice now using demo to try and horn my skills i would suggest a WhatsApp group would also be beneficial for us that are learning course of the ease to navigate.

This got up to 140pips, holding trade for a couple more anticipated points.

saxy4c:
@pipnator10 @infofirst, I have made it with oil money!!! I am going to take a counter trade, I think I see something from here, I'm joining you @infofirst.

Close it with 80pips at 61.40.
Selling Oil 61.40 Sl 62.40 tp 56.40

Clear consice charts, nice work sir.

PipMarshall:
NZDJPY.

NZDJPY is riding on a one legged bicycle.
Let the trades come to you.
There will always be opportunities.


Note the unfilled gap on the weekly.

I am monitoring this one.

Dow Jones got stopped at BE after going about 60pips in profits. A bit confused as to why indices and gold are rising at same time. Oh well, liquidity is very low at this time of the year and quite some abnormalities will happen. The market would always be correct, we just need to learn how to key in to it's moves.

saxy4c:

Sell DOWJONES 28280 SL 28350 TP 28080

AUDCHF.

Forming a base.

Massive upside potential.
Let the trade come to you.

saxy4c:
Clear consice charts, nice work sir.

Thank you sir. You are doing a great job too.

Already planning for the new year.

I don't expect much movements again this year.
But for next year, I am motivated!!!!

It's time to be sharp and focused.

Fmusty:


100%, the hard way is more feasible, as[b] it is very hard for a profitable trader to reveal his/her winning streak to u, that took him/her years to achieve[/b] for few dollars in d name of training.

What is worth doing at all, is worth doing well.

I agree with you

AyoII:

@MrUnder i think you should focus more on money management to me thats the holy grail in forex trading.
You might make 50 pips a month after winners and losers are subtracted and still end up winning.

It is going to be all or nothing

1000 pips or nothing

looks like GBPCAD has hit a ceiling

Big bearish engulfing right on the ceiling
The downward journey looks highly probable

A distance of about 1000 pips.

My dream number of pips

saxy4c:
It's indeed a huge responsibility for me being placed on such a pedestal. Insha Allah I'm actually getting better sharing my trades and the results thereof.
It's more of my revenge for all those that either sold me useless systems for exorbitant amounts, or told me they didn't learn the system for free so I had to pay them to teach me or if you don't pay for signals, you won't trade them religiously blah blah yoda yoda cheesy cheesy .

I see alot of sheep being led to slaughter . Roll your sleeves and get to work, no free food or easy way to it. You have to put in the work.

saxy4c:
Going to let the trades ride now to the promise land.

This is how some people make it oh!! Make use of this opportunity while it's available, once I blow I will be showing once once like the likes of

You mean when you start trading real money and leave all this demo pips behind. Na you talk am, no be me .

NZDCAD

My perception of this structure is bearish.

A very important factor in my trading is correlation. Before I take a trade I check if other pairs that are negatively correlated [moves in opposite direction of the pair I want to trade] or positively correlated,[moves in the same direction as my intended trading pair]. I use correlation to also hedge certain positions, especially when I'm running in loss on that trade.

You don't have to cram these correlations in your head. With time and constant trading it would just become a part of you. For example I can never buy the EurUsd and USdchf at same time. One would definitely hit sl as they are negatively correlated almost 100% of the time. But not all pairs keep their correlation though. Last year USDCAD and USDCHF were 100% correlated but this year it's been just about 25% of the time.

Another reason I use this method is because atimes a particular pair might be moving too slow for me so I add up a correlated pair that would help boost the results of the first trade. For example I buy AUDUSD for 100pips this night and by the time I wake up tomorrow, it's only giving me 5pips [NZDUSD & AUDUSD are also almost 100% corelated but their movement can be very frustrating sha]. I most probably would sell EURAUD [this pair is almost 100% inversely correlated to AUDUSD] in the morning to take advantage of the volatility of the EU session. Or buy AUDCAD

To be an effective trader and understand your exposure, it is important to understand how different currency pairs move in relation to each other. Some currency pairs move in tandem with each other, while others may be polar opposites. Learning about currency correlation helps traders manage their portfolios more appropriately. Regardless of your trading strategy. Now take a look at my past trades and try to figure why I combined certain pairs to trade. Hope this helps someone here.

saxy4c:
A very important factor in my trading is correlation. Before I take a trade I check if other pairs that are negatively correlated [moves in opposite direction of the pair I want to trade] or positively correlated,[moves in the same direction as my intended trading pair]. I use correlation to also hedge certain positions, especially when I'm running in loss on that trade.

You don't have to cram these correlations in your head. With time and constant trading it would just become a part of you. For example I can never buy the EurUsd and USdchf at same time. One would definitely hit sl as they are negatively correlated almost 100% of the time. But not all pairs keep their correlation though. Last year USDCAD and USDCHF were 100% correlated but this year it's been just about 25% of the time.

Another reason I use this method is because atimes a particular pair might be moving too slow for me so I add up a correlated pair that would help boost the results of the first trade. For example I buy AUDUSD for 100pips this night and by the time I wake up tomorrow, it's only giving me 5pips [NZDUSD & AUDUSD are also almost 100% corelated but their movement can be very frustrating sha]. I most probably would sell EURAUD [this pair is almost 100% inversely correlated to AUDUSD] in the morning to take advantage of the volatility of the EU session. Or buy AUDCAD

To be an effective trader and understand your exposure, it is important to understand how different currency pairs move in relation to each other. Some currency pairs move in tandem with each other, while others may be polar opposites. Learning about currency correlation helps traders manage their portfolios more appropriately. Regardless of your trading strategy. Hope this helps someone here.

Nice one bro.

Thank you sir.

wiconse:
Nice one bro.

saxy4c:
A very important factor in my trading is correlation. Before I take a trade I check if other pairs that are negatively correlated [moves in opposite direction of the pair I want to trade] or positively correlated,[moves in the same direction as my intended trading pair]. I use correlation to also hedge certain positions, especially when I'm running in loss on that trade.

You don't have to cram these correlations in your head. With time and constant trading it would just become a part of you. For example I can never buy the EurUsd and USdchf at same time. One would definitely hit sl as they are negatively correlated almost 100% of the time. But not all pairs keep their correlation though. Last year USDCAD and USDCHF were 100% correlated but this year it's been just about 25% of the time.

Another reason I use this method is because atimes a particular pair might be moving too slow for me so I add up a correlated pair that would help boost the results of the first trade. For example I buy AUDUSD for 100pips this night and by the time I wake up tomorrow, it's only giving me 5pips [NZDUSD & AUDUSD are also almost 100% corelated but their movement can be very frustrating sha]. I most probably would sell EURAUD [this pair is almost 100% inversely correlated to AUDUSD] in the morning to take advantage of the volatility of the EU session. Or buy AUDCAD

To be an effective trader and understand your exposure, it is important to understand how different currency pairs move in relation to each other. Some currency pairs move in tandem with each other, while others may be polar opposites. Learning about currency correlation helps traders manage their portfolios more appropriately. Regardless of your trading strategy. Now take a look at my past trades and try to figure why I combined certain pairs to trade. Hope this helps someone here.

fantastic.

Any website to get daily correlation value, since it changes often.

Oga chicken have you not finished spending this money? Ever since you left, certain people have stopped taking their medications and have started showing some symptoms of their mental ailments again. Please save some of your cash so we can contribute and get them properly treated. No matter what, I know how the show of love to even your enemies can transform them. Your activity on here is missed brotherly.

redsox11:
Ok, come manage this money for me before infofirst show face

None that I know of, but I never mentioned it changes often. Very few times I may even say. USDCHF & EURUSD have been negatively correlated since I met forex about 10years ago. I suspect USDCHF got affected by all the turmoil generated by USA and deviated from pure technicals this year. The Swiss Franc, is a safe haven currency, when their is risk flight from the USD. Gold is also a safe Haven commodity. And since Australia is the largest producer of Gold in the world, when Gold moves up, the Australian currency gets strength and AUDUSD goes up and since NZDUSD is correlated to their Aussie neighbors, it moves up also.

Concurrently, the economy of Canada is fuelled largely by crude oil as they export almost 2m Barrels of oyel daily. So when oil prices go high, the CAD gets stronger agaisnt the USD and that means USDCAD goes down. I hope we are getting some enlightenment.

I'm attaching a formula to enable you calculate for any set of pairs but then you all know that I'm quite very against complicating issues in trading. It's not a factor you should look out for daily, just to make double sure that you're taking trades in the right direction at least. When I said I don't use indicators per say, i meant the ones on mt4. But things like corelated pairs are a strong indicator for me especially for trade exits.

MrUnder:

fantastic.
Any website to get daily correlation value, since it changes often.