Fxwarrior:


To be profitable in forex you need an edge. Buying and selling at market price won't give you that edge, buy/sell limit won't give you that edge. As a matter of fact buy or sell limit means you are commanding the market to obey you.

To put it across; the market is falling and you set your buy limit before a support level, when price is falling it means its weak and likely to break every known support on its way.

NB: Assuming price is weak and falling, it has to be strong enough to break a resistance; so you can consider setting a buystop above a resistance level or use the 50 or 00 levels I have highlighted before.

It took me years to come to this conclusion and I think I have posted it earlier.

You are right. That's was my observation yesterday when I went through my trades.

Those two trades where badly taken; I tried catching the knife (a move I always preach against. ), and I got burnt.

I wasn't patient enough for candle closes and support retest. Lesson learnt.

I'll still use buy limits but not the ways I used it in the gold and usdcad trades. Stop orders are the bomb too.

Thanks for the lesson. I learnt one or two things.

Fxwarrior:


To be honest with you. I have never read any book on gold trading but just like forex, it responds to price action and USD news since its actually XAUUSD ie gold vs USD so if USD is bad/weak, gold will be strong and rise; if USD is good/positive/strong, gold will be bad/weak/negative and thus the fall.

So far what brought gold fall on Friday was the positive NFP USD data release which weakened gold coupled with that psychological rejection of 1299 region.

Wizdeen:
the best way to search is using google dorks, try this : gold forex trading filetype:pdf . it will return all pdf files related to gold and forex trading. like fxwarrior said,you can add other keywords to suite you

Thanks

You can't compare cryptocurrency to the tulip bubble.

Cryptocurrency is here to stay and there is nothing anyone can do to it. For a fact, most of the currencies are scam and they will definitely meet their doom someday. The world will adopt crypto as a means of payment in future; what no one knows is which of currency it will be. It may never be Bitcoin.

I don't agree that crypto will head to zero. I agree that it's overvalued but that's why it's a speculative asset. The real value will be known when it starts having real world uses. You will be amazed by the number of bankers involved it. You don't know better than them, do you? Institutional products are being built daily and you think the moneybags are du.mb.

Crypto is 10 years old already and the same tulip story is pushed out every year by the media. I don't listen to them anyways.

For now, as speculative assets, I trade them and invest in them until the use cases arrives. You just need to open your mind. It may be difficult of course if you invested at the top last year. Another set of moneybags are getting ready to be made. Invest low, cash out high; that's not terrible, is it?

Open your mind people!

Hopium:
You can't compare cryptocurrency to the tulip bubble.

Cryptocurrency is here to stay and there is nothing anyone can do to it. For a fact, most of the currencies are scam and they will definitely meet their doom someday. The world will adopt crypto as a means of payment in future; what no one knows is which of currency it will be. It may never be Bitcoin.

I don't agree that crypto will head to zero. I agree that it's overvalued but that's why it's a speculative asset. The real value will be known when it starts having real world uses. You will be amazed by the number of bankers involved it. You don't know better than them, do you? Institutional products are being built daily and you think the moneybags are du.mb.

Crypto is 10 years old already and the same tulip story is pushed out every year by the media. I don't listen to them anyways.

For now, as speculative assets, I trade them and invest in them until the use cases arrives. You just need to open your mind. It may be difficult of course if you invested at the top last year. Another set of moneybags are getting ready to be made. Invest low, cash out high; that's not terrible, is it?

Open your mind people!

when is it time to invest low....
when its always falling..

just trade it like Fx and have peace of mind

Fxwarrior:


Buying and selling at market price won't give you that edge, buy/sell limit won't give you that edge.

Not true. Speak for yourself

But why will someone need an EA to trade for him

fxmoneysignal:
LIFESTYLE OF RICH FOREX TRADERS..........
My dear forex trader listen "WHAT YOU DO WITH WHAT YOU HAVE, IS WHAT GIVES YOU WHAT YOU NEED"
Forex trading is a business just like any other business that must done with all seriousness.A forex trader must be ready to put in the work of learning, anaLYSING,applyING.You pay the price to win in trading.
Weekend is not the time for play alone you must use your time wisely go through the week trades you took figure out why you win or loose.If you win don't get too excited keep it up. Horn your winning skills and strategies don't let it get away from you.Also may be you loosed some money brace your self up don't be discouraged check it out be honest why did I loose,what I my mistakes is it because of a sudden news? No stop loss, high leveraging,over trading,not following my trading rules.Ask yourself why did I loose see the problem and solve the problem If it is beyond you tell your forex mentor don't keep it to yourself.Make sure you get the problem solved.
Watch out for the new week news that may affect your trading.Make sure you do everything it takes to win.
Enjoy a great weekend.FOREX TRADERS 9JA

This is good

BullBearMkt:

...On H4, I expect gold to re-test the low created yesterday and then make another high. If the new high is lower than the high of 03/01, then gold likely to fall. However, if gold creates a fresh new high, then more high should be expected. In case it falls, for gold to still be bullish in January, a reversal is expected above or within the highlighted area on the chart. In all, longer timeframe is still +ve for gold which is supported by COT commercial.

Waoh am amazed when I see such analysis. What type of analysis is this? Fundamental or technical or sentiment??

athaliya:


Finally, a Nigerian Scalper Please drop some words of wisdom for me

scalping no easy oo

athaliya:

Seems like u have tried scalping before?

I have tried to run from scalping but i keep getting drawn back, dont know why

I think is because it is fun, but never scalp without a plan if you do even those with plan are suffering how much more without one :DW

Good day everyone. Please i am interested in forex trading and i would like someone to help out. No matter the help i will appreciate it. Maybe you have books or videos you can recommend or you can tutor me personally over whatsapp

GladmanGoddey:

Waoh am amazed when I see such analysis. What type of analysis is this? Fundamental or technical or sentiment??

...@GladmanGoddey, I don't know if you are sarcastic with your post, but your question is very relevant. The analysis is a combination of all the 3 you mentioned. Sentiment in the sense that based on past pattern gold in January is likely more to end up in +ve. and fundamental by incorporating the activities of the Commercial Commitment of Traders. This is also technical, looking at the candlestick

GladmanGoddey:
But why will someone need an EA to trade for him

E.g to close a trade at the exit parameter while trying to enjoy a good night's rest.

Hi guys. Happy new year to u. Those links that tunderr posted, the 3rd one. As I saw someone describing EMA's , I said to myself: " That sounds like the gorrila method" and I went back, clicked the link and boom! It was indeed the gorrila method. I started following them when they just started. I have been learning technical analysis for the past one year, from mentors and babypips. But as a final year struggling student, it was hard to cope and I lived in an area where light no too dey. My highest challenge is DATA. Please, regular traders and analysts that use system, how did you guys do it? How much data do u guys consume in a month, because it's not to tell people to go and study from babypips when they can't practice what they learnt. Please help. How do u guys sub?

Donvic4u:



when is it time to invest low....
when its always falling..

just trade it like Fx and have peace of mind

Investing and trading both have their merits and demerits. One man's meat is another's poison.

And who says there is a peace of mind trading an asset that is heavily manipulated and unregulated?

The skills of an investor is not the same as a trader's.

Being a good trader doesn't mean you will do well investing.

If you ask a trader and an investor, "when is the time to invest?", they will give you different answers.

Hopium:


Investing and trading both have their merits and demerits. One man's meat is another's poison.

And who says there is a peace of mind trading an asset that is heavily manipulated and unregulated?

The skills of an investor is not the same as a trader's.

Being a good trader doesn't mean you will do well investing.

If you ask a trader and an investor, "when is the time to invest?", they will give you different answers.

that's why I said trade it and not invest...

with candlestick analysis and proper risk management, u can make more money from Btc because u won't require that large a capital an investor would need to make good profit from Btc

mariaulochi:
Hi guys. Happy new year to u. Those links that tunderr posted, the 3rd one. As I saw someone describing EMA's , I said to myself: " That sounds like the gorrila method" and I went back, clicked the link and boom! It was indeed the gorrila method. I started following them when they just started. I have been learning technical analysis for the past one year, from mentors and babypips. But as a final year struggling student, it was hard to cope and I lived in an area where light no too dey. My highest challenge is DATA. Please, regular traders and analysts that use system, how did you guys do it? How much data do u guys consume in a month, because it's not to tell people to go and study from babypips when they can't practice what they learnt. Please help. How do u guys sub?

Get a Glo sim, 1k gives 6gb. Cheers. By the way, the meta trader platform doesn't consume that much data.

AwesomeDuru:
Get a Glo sim, 1k gives 6gb. Cheers. By the way, the meta trader platform doesn't consume that much data.

Aside mtn, glo, etisalat and the likes.. any other internet/service provider that offers unlimited/monthly subscription?

Gosh...I don't understand all these stuffs u guys are talking about here oooo....Am interested in forex...aw do I start..I have already downloaded the Fxtm trading app...buh I don't understand anything on it...plz help

WTI..
This one may have bottomed and likely to shoot up..
Trendline broken also..
Wishing everyone a pipful week ahead..

Frezhkid10:
Gosh...I don't understand all these stuffs u guys are talking about here oooo....Am interested in forex...aw do I start..I have already downloaded the Fxtm trading app...buh I don't understand anything on it...plz help

You should start by reading and learning not by downloading the trading platform.

The one way to understanding is by learning.

Fxwarrior:
Guys the 1299 region for gold from what I can see was tested 2 times and wasn't broken. This is the 3rd attempt which failed. I am expecting a gold fall to at least 1260 before any move up.

So the trade plan would be:

Gold sellstop at 1280
Stop loss at 1285
Target 1260

(2000pips)

Please I need bullbear and other gold traders to comment on this.

Bro. You are missing the calculation for Gold pip. 1280 to 1260 is 200pips.
Been long I traded gold but looking at th chart again. I agree with you

Fxwarrior:
Guys I may have spotted a 600 pips movement. This should be my new year gift to the house.

The pairs are GBPAUD and EURAUD. We all know that they have been trending bullish and from what I can see , it may have ended. We are using my catapult method to take entry.

GBPAUD sellstop at 1.7800
Stop loss 1.7900
Target 1.7500

EURAUD sellstop at 1.5950
Stop loss at 1.6050
Target 1.5650

I expect these trades to be triggered by Monday or Tuesday next week but I have placed it myself.

Nice one bro. What timeframe do you trade on this?

PIPnator:


Aside mtn, glo, etisalat and the likes.. any other internet/service provider that offers unlimited/monthly subscription?

Try Spectranet

Please start your new year with better broker.
This is the lowest spread broker I ever use check it and compare them https://portal.hantecglobal.com/en/register?refid=2607&cmp=9v9g3m2r

Hello,

I started reading the thread about the Gorilla Method on forexfactory today. I haven't read far though. I have a question about the EMAs the guy is using. Which of the yellow, blue, red EMA is the 4, 15, and 30? I'm kind of confused. Someone might have asked the same question on the thread but I have read far to confirm.

Thanks

cc: tunderr, fxwarrior

Hopium:
Hello,

I started reading the thread about the Gorilla Method on forexfactory today. I haven't read far though. I have a question about the EMAs the guy is using. Which of the yellow, blue, red EMA is the 4, 15, and 30? I'm kind of confused. Someone might have asked the same question on the thread but I have read far to confirm.

Thanks

cc: tunderr, fxwarrior

I figured it out.

Red = 4 EMA
Yellow = 15 EMA
Blue = 30 EMA

Thanks

wondering why market has been hit and run and kinda slow, BRODA BREXIT final coffin on tues, 15th, NEXT WEEK. Be like market shakers are being careful. But i expect some crazy push before friday for those last minutes actors. keep your eyes opened.

priceaction:
wondering why market has been hit and run and kinda slow, BRODA BREXIT final coffin on tues, 15th, NEXT WEEK. Be like market shakers are being careful. But i expect some crazy push before friday for those last minutes actors. keep your eyes opened.

I think it will be funeral for cable next week Tuesday as you've pointed out. PM May is prepared for hard Brexit, but are they going for second referendum?

Quick question to all the gurus out here. Is it advisable to trade with the market movement during this brexit period or stick with your analysis or not trade at all.

AK284:



I think it will be funeral for cable next week Tuesday as you've pointed out. PM May is prepared for hard Brexit, but are they going for second referendum?

The matter has gone beyond a second referendum as there is not enough time left. Just 11 weeks to 29th March. Like you've said, May is prepping for hard brexit and everyone knows what the outcome would be after a "No deal Brexit"