pls friends is instforex a scam? which broker is really good for nigerians?

, And also with you

@nolly042, i use alpari nigeria nd its ok by me.

Dnt like that platform at all (alpari nigeria). I use their NDD account. Their barawo is too much.

Sweet dreams, pip-hunters.

Note that if you don't dream about MACD, Stochastic, PSar and of course the almighty PIP, you are not into forex  trading yet.  Grin Grin You must place trades, with stoploss and Take profits in your dreams too (Real forex trader) Grin Grin. Don't be too annoyed about the loss yesterday and don't be too excited about your profits yesterday. Remember that too much chart interpretation, could make you have insufficient sleep and that could lead to having headache, which will inevitably lead to further miscalculations and losses tommorrow. Sweet dreams all. Grin Grin

May the pips (even in your dreams) be with you all. Grin Grin

, And also with you

Unfortunately, I'm unable to upload my analysis, but I'd like everyone to look at daily and weekly charts of the EU. A symmetrical triangle on both times frames have been formed. Personally, I am waiting on a break on either side. The move could potentially make 1200 pips, this must not pass me.

For those, who currently do not trade indices, again i suggest you look at them. They make excellent diversification, especially when you have to sit on your hand in forex. My Dow and crude trades continue to move along, both now 500+ with more upside potential.

Happy hunting

with all the explanation, re u planning to go long or short,

McNelson:

with all the explanation, re u planning to go long or short,

excellent question . . . . . . someone is thinking.

60 pips to go and audnzd hits tp. . . . . .that's 200 pips from point of entry . . . .i did not take the trade but if you did share the profits. . . .

McNelson:

with all the explanation, re u planning to go long or short,

Key phrase: A break on either side

Abeg! newbies plenty inside this forum and are willing to learn at your feet.

nolly042:

pls friends is instforex a scam? which broker is really good for  nigerians?

according to one review site, even the so called ALPARI they are named among the fraudsters but if you want to chose a broker there are a lot to consider but the most important is Security

What is the point of opening a forex account if the funds we deposit will be unsafe with the broker, or worse yet, will be stolen and misappropriated? What is the logic of studying analysis and currency fundamentals if the profits that we make are pilfered by shameless crooks, or squandered by irresponsible individuals who cannot even manage themselves decently?  and the next one is under the first one try to know is the broker is registered under any standard regulatory body or bodies and make sure you know their-

1.spread 2.deposit and withdrawal 3. margin requirement 4.trading platform 5. customer service 6. account type 7. currencies offered. that all l think of for now. hope it help you at least to some level

if you are in gbpusd trade be very careful. . . . .the bias. . .or should i say my bias is short longterm. . . . . .

Well so far so good I love tradingpoint. Never had a problem with them and never had a re-quote. They are STP and not market makers. trading-point dot com u change the dot to(.). Just my contribution. Not marketing.

Thanks.

forexmmart:

Well so far so good I love tradingpoint. Never had a problem with them and never had a re-quote. They are STP and not market makers. trading-point dot com u change the dot to(.). Just my contribution. Not marketing.

Thanks.

I recently wrote an article concerning Straight Through Processing and Non-Dealing Desk (NDD) brokers for an Israeli company, and TradingPoint was a broker of mention.

Frankly, we need to start running away from these market maker brokers; they are a big problem.

thks to all traders in da house,i av been trading fx since late 2007 with no good result untill i found forex trade alert on nairaland, its becoming easy with the help of naijababe, odiaero & co, my warmest regard goes to BLOG ICON, as he his the man who turned everything around, u ar good a MENTOR.

there is human behavior effects on price movements, you need to factor that into your trading strategy before you can count yourself a pro, you need to recognize when bulls or bears are thinning out on a trend and match it with impending data/news release and then your techs. that way you might recognize how the market is behaving (human interactions) at a time and make informed decision about your trade based on your technical bias, and i am still learning the ropes, my best performer is still stoch 833, despite of all the noise, my 1k.

@stagger,pls what's the difference between Straight Through Processing and Non Dealing Desk brokers,which is better and how do i know that a broker is STP or NDD,is it indicated in their website?

@stagger,pls what's the difference between Straight Through Processing and Non Dealing Desk brokers,which is better and how do i know that a broker is STP or NDD,is it indicated in their website?

LaconicINC:

@stagger,pls what's the difference between Straight Through Processing and Non Dealing Desk brokers,which is better and how do i know that a broker is STP or NDD,is it indicated in their website?

I would have loved to send you the article but I am gagged by an NDA. I have to wait until it is published before putting up a link to it.

Fact is that practically, NDD brokers are STP brokers. They send your orders straight to the liquidity provider and the quotes you see are from the liquidity provider. There is no problem with re-quotes and slippage.

The DD brokers (also known as market makers) usually receive a quote from the liquidity provider, adjust it and then feed the quote to you. In essence, if the market makers get a quote of 1.4020/1.4023, they will purchase from the liquidity provider and probably sell to you at 1.4025/1.4028. So they make a spread profit of 3 pips on your order from the get-go.

This is why with market makers, they lose money when you make money and vice versa. Woe betide you if your trade is a losing one; some unscrupulous market makers will trigger your stop loss even if the price is 5 pips away. This is done at their dealing desk.

That is why you may open charts of three different brokers and you see 3 different price actions for each broker.

The problem is that STP brokers and NDD brokers usually charge a commission for trades (in addition to spread), or they may ask for you to open a large account (some STP brokers require you open an account with as much as $50,000, and put a floor on the minimum lot size you can use for orders), or may require both.

This is why many traders cannot afford to use them and then lie at the mercy of the DD brokers. Perhaps if you are as loaded as Odiaero, then you can afford to use an STP broker.

here read about STP nd others http://www.100forexbrokers.com/stp-ecn-brokers

FOREXMART

read everything in the above link i just shared. I have just been unbanned

I recently wrote an article concerning Straight Through Processing and Non-Dealing Desk (NDD) brokers for an Israeli company, and TradingPoint was a broker of mention.

Frankly, we need to start running away from these market maker brokers; they are a big problem.

Surely, we need to. They are terrible. They can steal your pips koro-koro, right under your nose and frustrate your efforts. They are the ones making forex trading to be difficult. I hate DD with a passion.

stagger:

I would have loved to send you the article but I am gagged by an NDA. I have to wait until it is published before putting up a link to it.

Fact is that practically, NDD brokers are STP brokers. They send your orders straight to the liquidity provider and the quotes you see are from the liquidity provider. There is no problem with re-quotes and slippage.

The DD brokers (also known as market makers) usually receive a quote from the liquidity provider, adjust it and then feed the quote to you. In essence, if the market makers get a quote of 1.4020/1.4023, they will purchase from the liquidity provider and probably sell to you at 1.4025/1.4028. So they make a spread profit of 3 pips on your order from the get-go.

This is why with market makers, they lose money when you make money and vice versa. Woe betide you if your trade is a losing one; some unscrupulous market makers will trigger your stop loss even if the price is 5 pips away. This is done at their dealing desk.

That is why you may open charts of three different brokers and you see 3 different price actions for each broker.

The problem is that STP brokers and NDD brokers usually charge a commission for trades (in addition to spread), or they may ask for you to open a large account (some STP brokers require you open an account with as much as $50,000, and put a floor on the minimum lot size you can use for orders), or may require both.

This is why many traders cannot afford to use them and then lie at the mercy of the DD brokers. Perhaps if you are as loaded as Odiaero, then you can afford to use an STP broker.

Spot On

@stagger thanks a mil,i await the link when d article is published,@forexmart,thanks 4 d link,am thinking of Inconeon,fxopen,alpari and trading point,which shd i go for

@stagger and forexmart.Am a little confused as to which broker to use,when i lost all my money as a newbie,i used fxopen,shd i use them again as i do my comeback

Can the prayer warriors please ask Eledumare to get rid of Berlusconi please ? That guy na soap for euro  

Thanks for the link. I'm a victim of the NDD.Planning to withdraw my money by the end of the week, They steal pips koro koro. When I analysed my financial statement yesterday. i discovered $51 was missing, with all the commission they deduct ($3 per lot), pip spread, they also hang servers, and they have some hidden software that wipe away your money when you are on a losing trend, but when you are on a winning trend, the profit just keep dragging like a snail. I hat Alpari Nigeria with passion

@McNelson,which broker did dat to u?Alpari nigeria? My God! This is a serious mata,so where do we go from here as regards this NDD/ND brokers stuff,who really are the good guys(brokers)