pinbar:


i will give you guys a hint this day on how market makers do their stuff.....perhaps it will improve your performance in the fx market.

Market makers enjoy red news cos it gives them the opportunity to move price to where they want . What you see happening to GBP is not new when news like this is coming.... it defiles chart analyses and rubbishes known chart patterns .

They actually keep pushing price as far as they can taking out stops only for them to dump in a massive way. So in other words, GBP is going to drop like no mans business later today, if you are long, you are actually on a loooooong thing.

Cheers

Shevychen2:


Sorry about your loss. Keeping tabs with fundamentals on your own is quicker than relying on a forum. Forex Factory had the vote lined up since last week. Maybe you didn't look well. Besides the vote was announced weeks ago and lots of news pieces have been done around it since then. Doesn't take more than 10 minutes to be aware of all the high impact news for a week. You can even set your Forex Factory to only show you the red data.

Your account falling from 102 to 58 has more to do with strategy, psychology and money management than the news though. That's a combined 440 pips loss at 0.01 to 10 cents. Must have opened two GBP based trades because not even GJ has done 440 pips since yesterday till now. Or did you have 200+ pips SL as a day trader? Too much if so. Learn from it. You still have $58 or 580 pips worth of risk to put to good use.

AwesomeDuru:
You have eyes bro. I have resumed selling GBPNZD and GBPAUD.

My love for GBP pairs will do me in in this my Forex Career

PJAMES1:


It's just my opinion. Our experiences shape our bias. Have had a bad experience with a major economic event before. Hence, my bias. Still learning.
But I understand your point. Proper money management and the use of stop loss should be good enough to avert any major mishap.
Thank you for the tip.

Edd1e:



Nice tutorials bro.
I observed GBP pairs today. Could have made a nice profit using this strategy. Keep 'em coming boss.
Happy pipping

collitexnaira:


Boss, beside forexfactory, which other reliable platform can one get news that speculate more on news that will move the market. Because looking at forexfactory i couldn't see any indication that there will be Brexit news this week.

AwesomeDuru:
2 open positions on GBPAUD, 2 open positions on GBPNZD. I thought it was time to finally kill the market

Lesson learnt. No analysis is failproof, Money Management matters most

It's nice to see the old hands are coming back to the thread

Infofirst coman see how badly I have done. I need beating

AwesomeDuru:
You have eyes bro. I have resumed selling GBPNZD and GBPAUD.

My love for GBP pairs will do me in in this my Forex Career

GladmanGoddey:

I heard people say during highly volatile period that your stop loss may not be triggered, how do you prevent such?

infofirst:

MM. Patience, discipline, long term view.
FX no b beans and it's even more challenging for a naija trader. Man need to make the money at all cost.

GladmanGoddey:
GBP is going berserk

GladmanGoddey:
GBP is going berserk

infofirst:


Just know where to sell and buy. That shd be your assignment when you are not trading. Combining too many Gbp pairs at a time can hurt just as It can help.
Meanwhile Gbp to me will still break the last swing high. That's the mission. So enjoy the rides here and there.

infofirst:

MM. Patience, discipline, long term view.
FX no b beans and it's even more challenging for a naija trader. Man need to make the money at all cost.

Like me for example, I strongly believe am one of the crazy trader in this market. I do not use stop loss. Even when I state stops for a trade, I only use mental stops. I can let a trade run for a year. I usually trade Islamic account so no swap. I can b fine with minus 1000 pips. Once am in line with the long Tf. Am good. Don't copy my approach because our experience and situation are not the same. But the safest approach is to never compromise MM. Imagine some one trading 0.01 lot on a $1000 account and not taking more than two trades. Such will do very fine without fear of news or what have you.

pinbar:


Nah.... its just paying the bills

PJAMES1:


Hmmm.. Thank you very much. That example is gold. Some say if one can't sleep well while having an open trade. One is risking too much.
If 0.01 goes against one.. 500 pips.. That's still like 50 dollars.
It's why I believe one should calculate with a position size calculator and stick to that position size. And one should not risk more than 3% of one's capital.

pinbar:


i will give you guys a hint this day on how market makers do their stuff.....perhaps it will improve your performance in the fx market.

Market makers enjoy red news cos it gives them the opportunity to move price to where they want . What you see happening to GBP is not new when news like this is coming.... it defiles chart analyses and rubbishes known chart patterns .

They actually keep pushing price as far as they can taking out stops only for them to dump in a massive way. So in other words, GBP is going to drop like no mans business later today, if you are long, you are actually on a loooooong thing.

Cheers

infofirst:
Somebody trading indicator somewhere will be screaming over sold since and gbp refuses to stop selling. And some body somewhere will b saying those indicators can kill it for you.

lol. Welcome to the world of Forex

infofirst:
Somebody trading indicator somewhere will be screaming over sold since and gbp refuses to stop selling. And some body somewhere will b saying those indicators can kill it for you.

Edd1e:


lol. Welcome to the world of Forex

infofirst:

MM. Patience, discipline, long term view.
FX no b beans and it's even more challenging for a naija trader. Man need to make the money at all cost.

Like me for example, I strongly believe am one of the crazy trader in this market. I do not use stop loss. Even when I state stops for a trade, I only use mental stops. I can let a trade run for a year. I usually trade Islamic account so no swap. I can b fine with minus 1000 pips. Once am in line with the long Tf. Am good. Don't copy my approach because our experience and situation are not the same. But the safest approach is to never compromise MM. Imagine some one trading 0.01 lot on a $1000 account and not taking more than two trades. Such will do very fine without fear of news or what have you.

seyiade26:
Wait. XM actually just cheated me. Closing my NZDCHF sell for a loss!! Trade was there when the highest peak in the image was created this morning. And I haven't moved my SL 1 bit. Yet just now with price so far away from there and over 1000 margin level these guys just closed the trade for a loss!!!

PrecisionFx:


Since u are an active Fx Trader, check my signature, it might be useful to u.

AwesomeDuru:
Lol.

Who are you and when did you start trading Forex?

seyiade26:


What if you make your own indicators like I do??

This is not to brag; but maybe to find a bit of side work. Now that all the bosses in the house...

PrecisionFx:


Since u are an active Fx Trader, check my signature, it might be useful to u.