WINNINGWAYZ: Hmmm. Good idea. How did I come into forex? well, was a red hat hacker and learning new things about hacking was what motivated me, until some yahoo" guys got interested in my works. I kinda crack things... and my guys just give me free money for having fun. My Girlfriend then told me something that shook me. She said I was a genius using my talent for the devil and everything would work against me if I do evil. this was like 100 level. I traced things back and really discovered nothing works for me if it has evil intention... I begged God for forgiveness and asked him to show me what to do with the computer. Same week, someone talked about forex, so, after three visits, he gave me a handout to photocopy and he traveled. So had to learn myself. Never attended any seminal or workshop, started with marketiva, poor internet pushed me into the crap liteforex. crashed account steady. this was like 2008. the high point was using zulutrade, turning a 40k usd account to 87k USD manually trading. loved it cos it was it would earn bragging rights and put my fxcm account and naija flag on top three. I became number two. over confidence, i built my robot and the thing was killing me. wanted to make up, i crashed the account. police matter followed, cos, people's money was involved. I settled and was officially very broke from been a millionaire at my early 20's
I left forex for good after crashing some other account.
My problem was greed, fear, trading with vengeance intent and looking for 100's of pips.
Have been into mining and now am back fully.
My system does not really look for 100's of pips but very sure 10, 20, 30 pips with confidence. Had to study the market like a person with habits until I cracked. Yes, I "hacked" my forex formula. very many sleepless nights. I did 120% for my clients this months.
For newbies, indicators are craps. I will try to teach price action, trend determination and pivot. simple.
others are divergence and retracement, heads and shoulders, double top and bottoms. Odiero, naijababe, tonjoan, unclenna,honerics and others, pick a topic and teach.
Those who know hardly teach. they just do. So, be patient. You must learn. no short cut in forex.
It is the easiest biz to do. Cant say am super rich but am on the right track. He that desires to be rich in a day will be hanged in a year.
Did I mention money management and trading psychology? yeah, also read the richest man in babylon. small but very mighty book.
Gracias

ever since i started trading fx i have been teaching and will continue to do so. I started a page with the link below my post to teach newbies and also release daily alert. My followers will testify hw much they have been imparted through this page. I believe that we all can help people make it in fx cos fx cash is too big 4 one person 2 finish. For those trading for people do not promise ur clients 100 percent in a month it will put u under pressure. At least 10% is ok for a month.

WINNINGWAYZ: I support my trading with these two indicator. they dont repaint. hope it will be useful

Are you trying to say whenever that arrow appears it stays until the market moves in that direction ? The similar indicator I have even varnishes after you must have entered a trade and may even show opposite direction alert. Its a really messed up indicator.

blink182: Are you trying to say whenever that arrow appears it stays until the market moves in that direction ? The similar indicator I have even varnishes after you must have entered a trade and may even show opposite direction alert. Its a really messed up indicator.

Like I said, it does not repaint. follow the arrow that support your trend.

really missed, already page 5 wow!!!!!

i can see newbies all around the forum , but i just want u to know that forex is not a get rich quick syndrome .

when i started this business, it was hell but i refused to give up .funny enough, the dude that exposed me to it no longer trade the forex again.

forex trading is not for everybody, but it could be for you.

but thank God for where i am today, just persistent hard work kept me going

the two enemies that can make you unsuccessful in this business are fear and greed (FG).take them away and the sky will be your starting point.

look or design a system that work for you and stick to it that all . coz is all about make pips, keep pips and repeat pips.

fasten your belt and put God first coz without him we can do nothing.

always remember that THE TREND IS YOUR FRIEND AND THE MARKET CAN NEVER BE WRONG.

;DHOW MARKET FOLKS

Forex Market Review And Upcoming Forex Calendar (May 28 ~ June 1, 2012)


Forex Market Review And Upcoming Forex Calendar (May 28 ~ June 1, 2012) news may28 Turbulence in Europe exacerbated this week as the two summit meetings (G8 and informal EU Summit in Brussels) failed to reassure the market. Traders responded by taking it out on the combined currency as first time in almost two years. Oddly enough, divergence in the Equity market begin to take form as major indices in both Europe and U.S. ended the week positively, although the strength in safe-haven currencies, particularly the USD, added pressure to commodities as precious metals and crude oil remained subdued; of course, concerns in China cooling its demand for hard commodities didn’t help either.

In Greece, recent polls suggested the majority of Greeks want to “remain in the euro zone” but “renounce” the terms of the bailout agreement, leading them to support the anti-bailout Greek party Syriza which is polling as high as 30%. Syriza Party Leader Tsipras once again shocked the market by commenting this week that “Potential for Greece exit from the EMU would destroy the EMU” and “Chancellor Merkel should realize she is an equal partner in the EMU and there are no ‘landlords or tenants’ in the EMU“… Former Greek PM Papademos coined the word “GREXIT” describing the inevitability of Greece exiting the EMU given the increasingly apparent political stalemate surrounding austerity rejections… Most analysts are currently forecasting “GREXIT” in 6 to 18 months.

In Spain, the government is struggling to deal with its regional governments’ deficits and its problematic banking system. The estimated price tag for the Bankia bailout rose from around €4.5B at the start of week to an astounding €19B on Friday. Market perception worsened for Spain and the Euro as new reports out of the wealthiest region in Spain, Catalonia, requesting a government bailout. Catalonia accounts for about 20% of Spanish economy.

In Europe, the preliminary European May PMI data indicated further contraction is underway on the continent, as the Manufacturing PMI reading came in at 45.0 v 46.0e, one of the lowest readings since June 2009, and Services PMI at 46.5 v 46.7e. In Germany, Manufacturing PMI came in at 45.0 v 47.0e, lower than the European average and one of the sharpest monthly drop since June of 2009, while Services PMI came in at 52.2 v 52.0e (slightly better).

In UK, the sentiment of doom and gloom settled in as the Revised Quarterly GDP for the first quarter of 2012 (Q1 2012) came in worse than expected at -0.3%, and the April Retail Sales figure came in at -2.3% v -0.8%, which is one of the worst release since 1997. Meanwhile, Bank of England released its Meeting Minutes and showed that the majority of its voting members felt that BOE’s monetary policy is “finely balanced”, which reminds me of the band playing while the Titanic sunk… BOE is out of touch with reality and the worst thing is that BOE has a track of record of being out of touch… I’d expect further pressure on the GBP as the credibility of BOE come into question.

In Japan, Fitch cut its sovereign credit rating by two notches to A+ (from AA) citing BOJ’s “leisure approach” to its consolidation plans compared to other fiscally challenged high income countries, and that its implementation is subject to political risk. BOE’s Posen chimed in by stating that “there is room left for BOJ to further ease monetary policy, there is no point for the BOJ to maintain self-imposed limits on JGB bond buying…”. On Wednesday, BOJ’s Shirakawa responded during his Interest Rate Press Conference and said “the central bank had no change to its stance of pursuing powerful easing. He added that he saw big demerits to further rate cuts including cutting the 0.5% interest paid to excess reserves and needed to measure effects of easing by interest rates and not by size of monetary base. He did not see immediate risk of BOJ failing to meet asset purchase target. The tail risk regarding European debt woes was at forefront in his opinion”, essentially pointing the finger at Europe for recent JPY strengths and told Fitch and the market to stay out of BOJ’s business, but not in these exact words.

In China, government researcher warned that China’s 2012 GDP growth could dip below 7% and that China needs to adjust its rate policy early. Similar reports last week from China government economists Zhu Baoliang also calls for possible rate cut as early as Q2 of 2012, although his view on the GDP remains the same as the official government estimate at 7.5%. In other news out of China, evidence emerged of cooling China demand for hard commodities, as Financial Times noted local buyers were deferring on delivery or defaulting altogether on shipments of coal and iron.

In U.S., the US April Existing Home Sales number rose for the first time in three months, matching the high seen in the January data. The New Home Sales beat forecast 3 out of last four releases, posting a new high for the year while the University of Michigan consumer sentiment reading came in at the highest level in over four years. Market continued to flow into the safety and the positive fundamental outlook of the USD.

In conclusion, EUR and GBP are expected to be sold off this week, although we may see some limited consolidation like the beginning of last week’s trading, but the overall negative fundamental outlook and the risk of a “GREXIT” remains unchanged; I’d sell EURUSD and GBPUSD on any significant consolidation or rallies. JPY is likely to remain neutral against USD while strong against other majors, I’d only SELL JPY against USD and perhaps sit on the sidelines for JPY crosses as BOJ may step up its rhetoric and keep JPY strength in check. AUD and NZD should remain under pressure, although if China decides to cut interest rate this week, we should refrain from buying, but rather positioning sell trades towards the end of the day as the overall risk aversion momentum should drive the pairs back down… this should be a no-brainer for fundamental traders as the overall market climate remains unchanged. USDCAD is facing a strong support between 1.0300 ~ 1.0400 level, and I believe we may very well see a possible reversal of the pair… of course, if EURUSD falls beyond the 1.2500 level, the sheer strength of a strong across the board USD will probably blow USDCAD through the 1.0400, but if EURUSD were to remain at the current trading range, then we could look to position USDCAD SELL trades. USD is expected to remain strong this week, but of course the focus will be on the NFP release on Friday. Since we won’t have ISM PMI’s to possibly predict NFP release figure, this week’s ADP report on Thursday may play a major role.


The main event for the week is the NFP (Nonfarm Payroll), and
with the current political climate in Europe, I'd believe
that USD may actually get a boost coming into the news, of
course the key to NFP will be on the ADP report on Thursday...


Thanks,

silibaba: ;DHOW MARKET FOLKS

Welcome bro. Hope to hear ur feedback from my pivot observation.
Market fine well well

WINNINGWAYZ:
Welcome bro. Hope to hear ur feedback from my pivot observation.
Market fine well well

i will ASAP,

not been constant this days

Hmm...well where shud I start from? I actually started trading forex since 2007. Den I was in 200level. I was using marketiva den and things were going on smoothly. I think I started with $50. I was going to cyber cafes to trade den and believe me it wasn't a funny experience. Back den there was this guy called Clifford Clarke.(Damadsuite). He was actually the person dat introduced me and some other nairalanders here to forex trading. By and large I got N100k from a friend to trade for him in which I was stupid enough to promise him 50% monthly. Later on I got a partner who is also a nairaland member by name bidemi(I guess some of you will know him). We used to share ideas together and trade 2geda b4 he travelled to the states finally. Things were going on fine got more investors money was rolling in until the recession started. I lost a lot of money den close to N1.4m. I was shocked cuz most of the fund wasn't mine. I was running from pole to pole trying to raise money at least to pay off clients. It however got to a stage dat I had to use my skol fees to pay off debts. I learnt a lot from that experience. So I den decided to pick up from the scratch again. Not quite long again I got a call from a company dat said I shud manage one of their acts. The cash was huge. N49m to be precise. The paper work and everything was ready den. Lawyers fee paid. That was 2009. I thought I had arrived but to be disappointed wen Sanusi Lamido started giving the banks problem. Jos crisis also followed and d President of the company had to fly out of the country for safety. He had signatory to the act. The fund didn't eventually come out. So I was back to level one again. I resorted in trading for smaller companies and individuals. Some with $2000, others with $3500. The one dat pissed me off was when a client had to change the password to the act after I built it from $1000 to around $2300 within a week. The I promised never to trade for anybody again but the temptation kept on calling. I remember crashing a bankers $3000 and the curses I got from his wife were terrible. The guy even thought I partnered with fxopen to clear the money and den share it 50/50. Imagine dat oooo. But it was fun anyway back den. Right now...I'm trying to bounce back and den move ahead. I do tell people that winning always has a price and I think most of us here have paid it. Forex trading isn't a get rich quick scheme. The problems we traders just have is dat we over speculate a lot. With a good mindset, having ur own trading rules, with a good internet connection, even if u make just $100 per week...believe me u'll make it big with time. Slow and steady wins d pips. Greed is also a factor anyway but against all odds....Personally, Forex trading is one of the best things dat has ever happened to me. Graduated from the University last year and I wanna go into it full time. Wanna get my own trading room in place and den go keep soaring higher. I respect so many other traders here on nairaland. We shall all make it Big time. To our online success.

Mine is simple: i started fx trading 2006 after a guy introduced me to it. One advice i got frm d guy which is still true is "always demo trade with d amt u can trade live acct. With'' that advice made me to demo trade then with only 200 dollars for six months. I used to study fx for 5hrs everyday then. I opened my first acc. With $500 made some profit and later blew it. I redeposited $200 and in one mth grew d acc to 1,200 dollars and later to 40k before my problem began. Then i was using fxopen and never had a problem with them. Infact d still remain one of my best brokers. My problem was, u remember e-gold, i funded my acct with it. During dt e-gold problem my e-gold acct was blocked and i was denied access 2 my cash cos fxopen have 2 close egold accts and transfer d cash 2 my egold acct. Thank GOD d cash was my own. I have to forget about it, forget about fx for some time to get myself ok. Till today i dont trust all these ecurrencies like liberty reserve etc. i do everythin nw by wire transfer. I bounced back a year after d incident and it has been awesome. I don't like trading 4 people but later decided due to much abeg and pple thinking am selfish. Pls newbies d enemy you will have in this biz is nt d broker, internet, but YOU. to make it in this biz fight urself and try and discipline urself. Apply gud money mgt and kill greed. I only luk 4 50pips in a day. INDICATOR: I base my tradin decision on stochastic only n it has been cool.

Different Mynds same Story.. UNeasy Lies the Head dat wears the crown.. Just to add to a list of d books recommended by @Naijababe, John Murphy's Second book Intermarket analysis(That book is Crazy) especially if u're more of a Co-relation Freak like myself.. If anyone is interested ..its free oh! Holla @ur boy

quite interesting episodes, hmmm.
i dont know what to say but thank for who he is.

are we at church yet. Am going to work this morning as am back to site , seems i have been redeployed without a letter

put it up here bro, TIA

odiaero: Are we there yet? ok no more talk now and only signals from me as the thread is meant for, but i just hate it when someone low self esteem come here to provoke me when he cant do that in real life.

Are we there yet? cheers to all

Parrot. You are almost a woman. Boaster.

ZUBY77:

Parrot. You are almost a woman. Boaster.

Abeg make una leave that person alone,we de enjoy the story of traders here,make una no spoil this wonderful stories,we don de enjoy with una wahala again,abeg.

Theyjih: Different Mynds same Story.. UNeasy Lies the Head dat wears the crown.. Just to add to a list of d books recommended by @Naijababe, John Murphy's Second book Intermarket analysis(That book is Crazy) especially if u're more of a Co-relation Freak like myself.. If anyone is interested ..its free oh! Holla @ur boy

divineannouncement2012@yahoo.com. Thanks.

Theyjih: Different Mynds same Story.. UNeasy Lies the Head dat wears the crown.. Just to add to a list of d books recommended by @Naijababe, John Murphy's Second book Intermarket analysis(That book is Crazy) especially if u're more of a Co-relation Freak like myself.. If anyone is interested ..its free oh! Holla @ur boy

temiboye@yahoo.com

Thanks in advance

methodman: Hmm...well where shud I start from? I actually started trading forex since 2007. Den I was in 200level. I was using marketiva den and things were going on smoothly. I think I started with $50. I was going to cyber cafes to trade den and believe me it wasn't a funny experience. Back den there was this guy called Clifford Clarke.(Damadsuite). He was actually the person dat introduced me and some other nairalanders here to forex trading. By and large I got N100k from a friend to trade for him in which I was stupid enough to promise him 50% monthly. Later on I got a partner who is also a nairaland member by name bidemi(I guess some of you will know him). We used to share ideas together and trade 2geda b4 he travelled to the states finally. Things were going on fine got more investors money was rolling in until the recession started. I lost a lot of money den close to N1.4m. I was shocked cuz most of the fund wasn't mine. I was running from pole to pole trying to raise money at least to pay off clients. It however got to a stage dat I had to use my skol fees to pay off debts. I learnt a lot from that experience. So I den decided to pick up from the scratch again. Not quite long again I got a call from a company dat said I shud manage one of their acts. The cash was huge. N49m to be precise. The paper work and everything was ready den. Lawyers fee paid. That was 2009. I thought I had arrived but to be disappointed wen Sanusi Lamido started giving the banks problem. Jos crisis also followed and d President of the company had to fly out of the country for safety. He had signatory to the act. The fund didn't eventually come out. So I was back to level one again. I resorted in trading for smaller companies and individuals. Some with $2000, others with $3500. The one dat pissed me off was when a client had to change the password to the act after I built it from $1000 to around $2300 within a week. The I promised never to trade for anybody again but the temptation kept on calling. I remember crashing a bankers $3000 and the curses I got from his wife were terrible. The guy even thought I partnered with fxopen to clear the money and den share it 50/50. Imagine dat oooo. But it was fun anyway back den. Right now...I'm trying to bounce back and den move ahead. I do tell people that winning always has a price and I think most of us here have paid it. Forex trading isn't a get rich quick scheme. The problems we traders just have is dat we over speculate a lot. With a good mindset, having ur own trading rules, with a good internet connection, even if u make just $100 per week...believe me u'll make it big with time. Slow and steady wins d pips. Greed is also a factor anyway but against all odds....Personally, Forex trading is one of the best things dat has ever happened to me. Graduated from the University last year and I wanna go into it full time. Wanna get my own trading room in place and den go keep soaring higher. I respect so many other traders here on nairaland. We shall all make it Big time. To our online success.

You know Mourinho in real life? Pls tell him to return to the thread, I miss him

Theyjih: Different Mynds same Story.. UNeasy Lies the Head dat wears the crown.. Just to add to a list of d books recommended by @Naijababe, John Murphy's Second book Intermarket analysis(That book is Crazy) especially if u're more of a Co-relation Freak like myself.. If anyone is interested ..its free oh! Holla @ur boy

adebayoabidoye@gmail.com
Thanks sir!!!

silibaba: .funny enough, the dude that exposed me to it no longer trade the forex again

Yeah my first successful mentor left forex years back and I severed contact with him when he told me to stop in 2007/8. His name is Lawal Ibidapo. I guess at a point he was into commodity export. I was so mad at him.

ZUBY77:

Parrot. You are almost a woman. Boaster.

my guy what is ur mission on this thread.pls leave nicodermous alone .if u are here to fight or derail this tread.pls leave us.cant u see d guy have stopd boasting & dropin analysis now.i realy commend odiaero for this.I STIL ADVOCATE 4 INHOUSE MODERATION OR CONTITUITION BECAUSE OF TROUBLE MAKER, SCAMERS,MARKETERS E.T.C AS A RESULT OF THE INCREASING POPULARITY OF
DS TREAD

For those looking for e-books, go here and download free of charge:

http://www.earnforex.com/forex-e-books/trading-strategy/

May the pips be with you.

Hmmmn....similar testimonials different tellers.

dont let anyone distract you here.

we are all here for a serious business

take the pap and throw away the chaff

arthuryemi: my guy what is ur mission on this thread.pls leave nicodermous alone .if u are here to fight or derail this tread.pls leave us.cant u see d guy have stopd boasting & dropin analysis now.i realy commend odiaero for this.I STIL ADVOCATE 4 INHOUSE MODERATION OR CONTITUITION BECAUSE OF TROUBLE MAKER, SCAMERS,MARKETERS E.T.C AS A RESULT OF THE INCREASING POPULARITY OF
DS TREAD

Good morning sir, plz I need the low risk entry course! adebayoabidoye@gmail.com ... Thanks in advance

Free forex indicators here:

http://www.metatraderlibrary.com/forex-indicators/

May the pips be with you.

Hey everybody, I need some help please. What is the most cost-effective way of withdrawing funds from an InstaForex account here in Lagos? I don't mind if it's not an instant process, will really appreciate feedback from anyone who's familiar with that broker. Thanks and may the pips continue to be with us!

heard of forex from success digest early 2006, advert placed by one lawal ibidapo when it was still in magazine form. december same year paid someone 20k for 1on1 training. all he succeeded in doing was to open a marketiva account for me.told me when redline crosses blue BUY/SELL. never told me anything about SL or TP or even demo-trading. askd me to go live and get rich. blew my acct 7times in 3mths.

took a break, did research on my own. got in touch with an indian through marketiva forum. paid her $100 for online tutorial. was using cybercafe then. each time i get to the cafe no free PC so i kept missing my training.
discovered mt4, so opened acct with north finance, now fxpro. meanwhile my knowledge was increasing as i continued my research.kept buying systems upon systems online. over 80 of them. my 1st funding with northF was $500. after just 2hrs of trading my balance was $1,200. just couldn't believe my eyes.i was using peter bain's system. 13 minutes later i shut down with $1.19 as balance. i no fit cry

travelled to lagos 2007 to buy a systm from a guy in success digest. went to lagos again same year when webpower drew my attention to EAs. paid 20k for it.
borrowed money twice in 2008 to fund my acct. went as low as taking $1,000 from the recharge card girl on my street. in total blew my northfinance acct 15 times between 2008 to march 2011. in total lost roughly $15,000. (this is 4sure peanuts compared to other people's lose)
travelled to lagos mid 2010 to attend fx seminar at success digest by ifeanyi uche. got a lovely looking certificate after the week-long seminar. seminar fee 35k + 5days in a hotel. don't know where the cert is rihgt now.

fx was like an addiction. any little money i got i chnged it to dollars, paid it into my dorm acct, when it gets to 1000 i wire it to my broker. it went on and on. at one point, just to raise cash i printed flyers claiming to be a forex guru. collecting 20k for one-on-one training. thank God only 4people responded. one of them came all the way from benue state for my training. each time i start teaching he'll sleep off. after the 3-day training i kindly collected my cash and escorted him to the park as he headed bck home. no be my fault.

it dawned on me last year to get a micro acct and grow it. that was my turning point. opened micro acct. with alpariNZ with $100 in sept.
so after 4yrs and 10months i finally tasted fx money. made my 1st withdrawal oct. last year.
last year blog icon opened my eyes to something i never saw all these years. i tweaked his system and integrated into mine and VOILA.
basically i use chart patterns, S & R, trenlines

I'm still micro trading. not yet in the big league. still struggling with impatience. that's my challenge right now. my acct will explode when i finally have impatience under lock and key.
90% of all you need to know to succeed in this biz can be for free online.
THE SECRET BY RHONDA BYRNE was like a God-sent book. it has nothing to do with fx, but you need to read it.
my wedding fast approaching. surely be using fx cash to sponsor it.
for those still in the doubt; FOREX IS REAL

Aha... we are getting there. for those following, I have been dropping some very basic and important tools. Unfortunately, the newbies we are helping hardly ask questions. Are they checking @ all? We will always drop alert signals, as intended in this thread.
Before using a system, you would want to test it in a real market situation. I have read 100s of systems so much so that it seems am holding a hammer and the market are nails I can hit anytime. Unfortunately, life is not a linear progression.
This tool am dropping will help everyone. You can go back in time and forward-test your strategy. not just backtest, which only makes sense for EA. Be inside real-time price-movement situation. After feedback, I will teach price action and pivots.

Thank you

The pdf file for its procedure is larger than 200kb, more than allowed by nairaland. Guess I would have to send it via mail for those interested.
Happy pipping

WINNINGWAYZ: Aha... we are getting there. for those following, I have been dropping some very basic and important tools. Unfortunately, the newbies we are helping hardly ask questions. Are they checking @ all? We will always drop alert signals, as intended in this thread.
Before using a system, you would want to test it in a real market situation. I have read 100s of systems so much so that it seems am holding a hammer and the market are nails I can hit anytime. Unfortunately, life is not a linear progression.
This tool am dropping will help everyone. You can go back in time and forward-test your strategy. not just backtest, which only makes sense for EA. Be inside real-time price-movement situation. After feedback, I will teach price action and pivots.

Thank you

Thanks sir, please teach us price action an pivots...