Tried out that 7B forex broker on demo, my personal observation is that when in negative it moves astronomical, but when in positive, it moves like a snail. A single pip movement in negative is like -50 naira, A single pip movement in positive is like 2naira.

Might be wrong though, personally I don't like them, better for me to remain in dollar account that I can easily withdraw and converted to naira than joining a broker because they have naira account.

Fmusty:
Tried out that 7B forex broker on demo, my personal observation is that when in negative it moves astronomical, but when in positive, it moves like a snail. A single pip movement in negative is like -50 naira, A single pip movement in positive is like 2naira.

Might be wrong though, personally I don't like them, better for me to remain in dollar account that I can easily withdraw and converted to naira than joining a broker because they have naira account.

Hehehe. That's how I used to feel on all FX platforms but I've moved on.

As gold has refused to break above till the close of the European session, I'm looking that it would sell to at least 1709 till the Asian.
I'm prepared though to change bias at key points, 1725 breaks down then 1712 and 1700 same goes for above 1725 its 1737 then 1750.
Just pick a side and fire down. No need holding her and watching great pips missed each time she goes in this 1700 to 1745/50 range

Good day guys, I recently started learning FX on babypips.com and I'm presently at the technical analysis stage. However, I don't how to practice the analysis I'm learning on MT4. For instance, how do I plot/use the support and resistance on the MT4 app on my phone.

I will really appreciate it if anybody can tell me how to go about it.

Fmusty:
Tried out that 7B forex broker on demo, my personal observation is that when in negative it moves astronomical, but when in positive, it moves like a snail. A single pip movement in negative is like -50 naira, A single pip movement in positive is like 2naira.

Might be wrong though, personally I don't like them, better for me to remain in dollar account that I can easily withdraw and converted to naira than joining a broker because they have naira account.

Why don't you try fxtm they trade in naira currency as well. I just registered for their demo account. I actually wants to open a naira account later on.

Fmusty:
Tried out that 7B forex broker on demo, my personal observation is that when in negative it moves astronomical, but when in positive, it moves like a snail. A single pip movement in negative is like -50 naira, A single pip movement in positive is like 2naira.

Might be wrong though, personally I don't like them, better for me to remain in dollar account that I can easily withdraw and converted to naira than joining a broker because they have naira account.

Have u tried fxtm naira account?

saxy4c:
As gold has refused to break above till the close of the European session, I'm looking that it would sell to at least 1709 till the Asian.
I'm prepared though to change bias at key points, 1725 breaks down then 1712 and 1700 same goes for above 1725 its 1737 then 1750.
Just pick a side and fire down. No need holding her and watching great pips missed each time she goes in this 1700 to 1745/50 range

Gold just blew my account. Somehow Wiconse had been warning me about SL o

Another 210 pips. The 1709 has come much quicker than Asian. Well you know I'm buying now at 1709 for the top of the range again, I know one of these trade would hit me hard when the breakout happens, but I've got enough in positive to absorb that.

saxy4c:
As gold has refused to break above till the close of the European session, I'm looking that it would sell to at least 1709 till the Asian.
I'm prepared though to change bias at key points, 1725 breaks down then 1712 and 1700 same goes for above 1725 its 1737 then 1750.
Just pick a side and fire down. No need holding her and watching great pips missed each time she goes in this 1700 to 1745/50 range

Usdcad...seems to be going heaven.

saxy4c:
Another 210 pips. The 1709 has come much quicker than Asian. Well you know I'm buying now at 1709 for the top of the range again, I know one of these trade would hit me hard when the breakout happens, but I've got enough in positive to absorb that.

One need to have a good 'shock absorber' trading gold

saxy4c:
Another 210 pips. The 1709 has come much quicker than Asian. Well you know I'm buying now at 1709 for the top of the range again, I know one of these trade would hit me hard when the breakout happens, but I've got enough in positive to absorb that.

My hand no dey there again. That thing almost gave me virus today.

She is the only pair I seat my a** down and watch at times like this. It does this often before a move, so rather than hold on to a particular bias, play the range until one of the sides burst.
Sorry about your loss bro. But don't run yet, you'd get to see these things or just leave trading gold and just watch it for now.
My stop for the 1709 buy is the 1702/4 area, depends on price action there. I'm looking to take profits of about 100pips and sell again around 1719

AXYZ:
Gold just blew my account. Somehow Wiconse had been warning me about SL o

saxy4c:
She is the only pair I seat my a** down and watch at times like this. It does this often before a move, so rather than hold on to a particular bias, play the range until one of the sides burst.
Sorry about your loss bro. But don't run yet, you'd get to see these things or just leave trading gold and just watch it for now.
My stop for the 1709 buy is the 1702/4 area, depends on price action there.

Thanks for the empathy bro. Gold is worth trading alone sef. Gold alone gave me over 20k between yesterday and today. I don't mind following it up and down till I recover again.

AXYZ:


Gold just blew my account. Somehow Wiconse had been warning me about SL o

Anything less than 100usd is risky for trading gold, also spread is another thing

USDCAD Sell 1.4165 SL 1.4195 TP 1.3900

AXYZ:


Thanks for the empathy bro. Gold is worth trading alone sef. Gold alone gave me over 20k between yesterday and today. I don't mind following it up and down till I recover again.

That was the problem I had last week. I traded gold with other currency instead of trading it alone. Thr same thing happened to me.

Abambam:
Plan to add to my sell if price go against me and rsi get to overbought. Waiting for some fresh sell .

AU - Running +60 pips, still looking to add another sell to it. A double top was there for another sell entry but it was too close to my first entry.

EU - Running +100 pips , waiting to add another sell.

NU - Missed trade, would have worked out good.

UC - Missed trade , no double bottom to reassure me.

GU - No entry as the RSI wasn’t overbought.

She has given another 100pips at the 1719 area and as I planned earlier, I'm selling this lady now for below 1700. Over 1000pips playing the range bug I'm still cautious because I know she's about to get very upset and finally strike, anyways, enjoy your profits. ,

saxy4c:
She is the only pair I seat my a** down and watch at times like this. It does this often before a move, so rather than hold on to a particular bias, play the range until one of the sides burst.
Sorry about your loss bro. But don't run yet, you'd get to see these things or just leave trading gold and just watch it for now.
My stop for the 1709 buy is the 1702/4 area, depends on price action there. I'm looking to take profits of about 100pips and sell again around 1719

Hello Zither, I appreciate your trying to stand up for others but I suppose that you've not gone through the rules nor the concept on why this competition even came up.

I have an idea for a forex competition to help those beginners that need trading funds. The first part being consistency in their trading strategy and sticking to it throughout the duration of the trial

Firstly, how much of a trading strategy would a forex beginner have that would be the wow of the trading world? I am not belittling newbies as sometimes surprise lucky shots could happen but we all know this is a blue moon occurrence. A further look at other aspects of the rules makes it obvious that all I sought to do is to raise up someone who has shown gumption. Furthermore, it is not all about winning as the only person left ended with negatives and if Viettastitches obeyed used strategy rules to the exact, Viettastitches will get the prize. It is just that simple.

Winning would entail

1. Capital won($100)
2. A free expert advisor for the strategy (I code the strategy I got from Viettastitches starting from the $150 range on fiverr)
3. Recommendations on how to monetize the bonus ea while not giving out the farm.

The rules were stated clearly. Anyone who intentionally saw all I wrote and and going against the rules only to cry wolf when denied the the prize is only being mischievous. Anyone who did not read the rules and was told missed out for not complying should also not complain after reading the words written in English language. A similar copy is written on the contest page https://www.fxblue.com/competitions/ViewCompetition.aspx?id=1047.

If you still say Wiconse obeyed all the rules from your own perspective now that you are seeing the rules right here, I will have to empathize with you and smile. Wiconse's strategy still lies in a zoom folder as a video file somewhere on my PC. Am not even sure I will ever have the time to go through it. I also will not be deleting the file as if I delete it and say I deleted it, I doubt no one will believe it. As for confidentiality of it, I've handled hundreds of clients' jobs on fiverr but you will never see any of their works for sale by me. I've only had little time to go through a few hitters to learn from them (I am that busy). A good thing that Wiconse did not reveal the full details. So, no complaints there.

The rules stated you will be disqualified if you are not a newbie. It also stated to drop your strategy if you wish to be a winner and if it was found that you did not follow your own strategy guidelines, you will be eliminated. It does not matter if I checked out document A before document Z, as long as I am the game master I can always start from whichever end I wish to appropriate or eliminate.

Read through this conversation we had here before he joined.

wiconse:


am i allowed to join?

teemy:


Sure, the prize however is for young traders

The funny thing was I didn't even know he had any infraction until while explaining his strategy that he himself mentioned in our video conference that he drops signals and I told him I would be checking it up.

If you want an answer, I think you should ask Wiconse why he entered a featherweight contest knowing fully well that he was past that weight class. Might be he hoped 'grace' would speak for him but as it is, I am a logical person and not one controlled by emotions (I think I was born on the wrong continent )

In conclusion, I will use this opportunity to declare that I won't be organizing nor hosting any forex contest on nairaland any more as it is. I can't shuffle my current workload and being a gamesmaster for now. I look forward to other members organizing it and whenever you have it up, do give me a mention so I can add the link to the first post of this thread. If I am chanced, I will join in.

I recommend asking for strategies before the prize award should not requested whether to make it better for the winner or to add to organizer's collection. I also would enjoin not making a monetary prize as if it is for the honor, those in it purely for the money would lay off (even Viettastitches ensured to mention that a phone was lost because of looking for how to participate in the contest). If it is purely for the passion of it, true traders will gather.

Wishing you well - Teemy

P.S The rules below

teemy:
An Idea

I have an idea for a forex competition to help those beginners that need trading funds. The first part being consistency in their trading strategy and sticking to it throughout the duration of the trial.

The Trial

A forex demo trading competition.

Everyone starts with a trading account of $10,000 which is coincidentally similar to a $100 account in cents (more on this later).

Contest starts and runs for the last two weeks of each month.

Awarding the prize

Winner is the trader with the highest ROI or highest balance since all accounts start with the same amount.

At the end of the contest, the highest ranked trader will give me a report of his/her trading strategy and I will authenticate that ALL trades made conform to the trading strategy. Any single off strategy trade will lead to disqualification and prize goes to the next highest ranked trader.


Prize is $100 or equivalent in naira paid into winner's Dom or Savings account. (I will see about raising this and increasing prize positions in coming months).

As an added bonus, I will automate the winning trading strategy into an expert advisor for the winner. I would advice winner should not sell it nor give it out (I will give recommendations on how to make more with it without giving out the farm). There truly is something called the law of diminishing returns.

Grounds For Disqualification

All gurus and pros are not entitled to participate. I would rather you add more to the prize pot. This also includes anyone who has dropped trading signals in any of the nairaland forex threads.

Any new nairaland account that was created from today ontowards is not entitled to participate.

A prize winner for a month is not entitled to a prize in the next immediate month.

The contest trading account should NOT have a drawdown more than 20% of the starting account balance. The concept is to ensure you will maintain money management rules so as not to blow the prize money in a swoop.

Conclusion

All interested participants should give me a mention while I work on setting up the demo contest (most likely on fxblue).

Wishing you well - Teemy

If up 10 people are interested, we could try to get 100usd to 1000usd trading only Gold for a couple of hours daily for a short period .

uche393:
Anything less than 100usd is risky for trading gold, also spread is another thing

Gbpusd sellstop after retesting the support waiting for it to obey price action

That's another 110pips from this last sell 1200pips from Gold today and definitely more to come In Sha Allah.
All calls posted way in advance for buys and sells, not coming here to post results after the fact looking for mugus
I show this view so you can see the simple [albeit dirty] method that gives me confidence to trade Gold. She can be tamed. Lol.

saxy4c:
She has given another 100pips at the 1719 area and as I planned earlier, I'm selling this lady now for below 1700. Over 1000pips playing the range bug I'm still cautious because I know she's about to get very upset and finally strike, anyways, enjoy your profits. ,

uche393:

Anything less than 100usd is risky for trading gold, also spread is another thing

What if I told you I just blew about $100?! The most important thing is if you are not against the trend. If you're, even 1m will blow.

Going forward, I understand you sha. We're just talking.

Trade up 40pips, already almost 2R, holding this one out as my risk is very tight.
Oyel should correct upwards a bit from the 19.50 area, but of course you shouldn't take me seriously please

Let's Try a UKOIL trade here for a 8/10R setup
#UKOIL #BRENTOIL

BUY 27.34 SL 27.18 TP 28.64

RISK TO REWARD 1 : 8.12

saxy4c:
USDCAD Sell 1.4165 SL 1.4195 TP 1.3900

Hassanolek:
Good day guys, I recently started learning FX on babypips.com and I'm presently at the technical analysis stage. However, I don't how to practice the analysis I'm learning on MT4. For instance, how do I plot/use the support and resistance on the MT4 app on my phone.

I will really appreciate it if anybody can tell me how to go about it.

To add support and resistance lines on your mt4 Android chat. Kindly follow these step.
1. Tap on the chat.
2. Tap the shape icon
3. Click on the plus + sign at the top right
4. Then select the shape you want to input in your chat.
Some screenshots is attached to guide you.

Regards

princeso2020:


every trading tools i sent here works only on mt4 platform PC

hello please can it work on MT5 pc too?

Zither:
So much has happened since I left. I have been a silent follower for many many seasons now. One thing is sure, history always repeats itself. Reading through some things just strike out.

@Teemy, your refusal to compensate Wiconse for the strategy he gave up to you is brightly coloured with deception and unfairness all over. Wiconse could sue you and secure damages against you or, even better, specific performance. You made an offer, he accepted. He not only accepted but furnished you with consideration to seal the contract. The consideration of parting with his strategy. Your defense crap that he had earlier posted signals to the thread is hogwash. You accepted his strategy, didn't you? That you have not gone through it is no defense. Lemme stop here. Legal terminology you may or may not understand but applicable nevertheless.

@Wiconse, you know the only place I blame you, the part you did that attracted a frown from me, giving up your strategy. Your strategy is worth 100 million times whatever he claims to give out as prize. It is good you did not give up the whole package. At least, that keeps you away from getting stuck on a losing end. Just keep at it. Tables turn and the best part is that none of us has the power to turn it. Life does. Wish you the very best in your trading.

@infofirst, you act like a boss because you are. Extremely appreciate the sight of someone who gives selflessly without attaching stringent conditions to select potential beneficiaries. A man true to his words....on this thread, extremely rare.

@TheYoda, like I once said your watchful eyes for scams are well appreciated. Without this, many would suffer untold financial scams which never seem to end, and it is comforting that you apologize when you are wrong (not all the time though) especially in the saga involving Pip Marshall and Bojbest. Well done.

There are peeps who deserve recognition for making this thread what it is...peeps like Saxy4C, Walexy, PIPnator10, Peteregwu, Ncpat, GladmanGoddey, Fmusty, Voraz, Pip Marshall (sad to see you go) etc, all those who spoke out for Wiconse, every sincere trader contributing in one way or the other to the learning here... If I did not mention your name like Shevychen2, Unclenna, Redsox11, Edd1e, Meshpips...no matter, I cannot possibly pen down all the names try as I may but you guys have my deep respect. Sorry for the very long post and thanks for reading. May the pips be with you all.

thanks for your input.
the organizer has failed.
did i or did i not ask for your permission b4 joining d competition?

since he knew I broke one of d rules,why did he go ahead in asking for my strategy

now he feels I am a pro but when I was losing my equity, oblivious?
please forget that guy and this case.
like I said my strategy not $100

The Loonie has given 60pips 2R

saxy4c:
USDCAD Sell 1.4165 SL 1.4195 TP 1.3900

The UKOIL trade is up 80pips about 5R now.
I didn't take USOIL because I feel that cross is being manipulated with the USA interest in OIL.
See how it's stayed at 19.50 while UKOIL moved so much.

saxy4c:
Oyel should correct upwards a bit from the 19.50 area, but of course you shouldn't take me seriously please

Let's Try a UKOIL trade here for a 8/10R setup
#UKOIL #BRENTOIL

BUY 27.34 SL 27.18 TP 28.64

RISK TO REWARD 1 : 8.12

bcashy:


Have u tried fxtm naira account?

Tried it few years ago when I first started. Can't really say how good they are.

But really, the most important thing is to focus on one's strategy and less worry about broker.

AXYZ:


Gold just blew my account. Somehow Wiconse had been warning me about SL o

sorry bro...you'll rise again

Buy USDCAD