Pls.what.is d parameter u set for.the Moving Average? I can see it in red

jorel1:
#GBPAUD , if we dont get a gap down during the weekend, looking to buy from
Current price currently at support 2.1357
Next Support level 2.131
Last week low 2.124

TP: 900 pips

With my little.knowledge on both Binary and Fx, I can tell u.that FX is easier compared to Binary. Though, FX.easy language may be a.journey.to hell but if one is satisfied wt.little, Sky.is.d.limit.wt FX as u are.d.master of ur decision
I av tried both and I am.done.wt.Binary while I.still.drink.some cowbell milk with little I am.makg.on FX.

I.may be wrong.may be due.to.my.experience becloudg my.submission..but I feel cool.wt.FX

Cul4real:
Please house, which one is even most easier or less complicated between binary option trading and forex trading especially for newbies? Thanks.

As always Boss. On.point

iheanyiebeneze:
@ALL,
PLEASE READ THIS.

Four reasons why you're getting nowhere...



I expect you’re in this game because you want to make some money.

There’s no shame in that.

Maybe there are things you want to be able to spend your money on … maybe you’d like financial security for the future … to be able to provide for your family … or free yourself from the rat race …

Whatever the reasons, we come back to the same thing – making money.

Short of winning the lottery, or coming into some huge inheritance from a long-lost relative … making money will generally involve sticking our necks out, putting some effort in, and taking a (carefully measured) degree of risk.

And that’s where most people come unstuck …
Getting started with your trading or spread betting involves taking a step into the unknown.

But many people are nervous of losing money. It’s a healthy, sensible fear – no one wants to lose money. And certainly no one wants to get wiped out.

Others stand back from the markets because they’re worried that they don’t have the time, the money, or the know-how to get involved.

All these issues can keep potential traders on the outside.

If that sounds like it could be happening to you, then you’ll never be able to move forward until you address these issues.

None of these factors need to stop you from making money … but the mere fact that you’re hesitating shows that you’ve recognized these important stumbling blocks – which is the first step to solving them …

1. Your trading fund

It’s one of the most common frustrations I hear from people, who get sick and tired of hearing about “great trading strategies” that are “raking in huge profits” …

It can be annoying when you hear about people making £500 on a trade … only to discover that they’re trading with a £25,000 fund, and that your own measly pot would give you £10 profit on the same trade.

It’s enough to make you wonder, why bother?

If you’re in middle age … with little funds … and an income that’s barely covering your outgoings … Perhaps you’d better give up on the idea of trading?

And just accepting your financial situation as it is?

The truth is that it’s exactly this kind of thinking that stops most people from trading.

It’s also this kind of thinking that stops people setting up their own businesses … or starting a new career path … or making any positive changes in their lives …

It’s disheartening to know that we’ll have to start right at the beginning, with tiny baby steps.
Feeling financially powerless is a trap that we can easily get stuck in – and it makes us want to blame others for our lack of fortune. I’m not trying to lecture you here – I’ve been stuck in this trap myself. I’m sure we can all recognize feelings of resentment towards others for their good fortune. However, if we stop looking at others and comparing ourselves to them – we can begin to win that power back.

The truth is, that the size of your trading fund may be a measure of your wealth … but it isn’t the measure of your financial power. Financial power is about a mindset that isn’t knocked back by failures or by the sometimes overwhelming feeling of having to start at the bottom.

It’s where most people have started out.

Which is why the first thing to do when you have a small trading fund is to roll up your sleeves and get stuck in.

How many times have you heard advice to “start small” … “don’t risk too much” … If you have a modest trading fund – you HAVE to start small. And, as your fund grows in size, so too will your experience, and (hopefully) your success rate.

Plus, traders with a modest fund really understand the importance of NOT LOSING that money. Let’s say that Trader A has a fund of £25,000 to invest, but starts trading with just £500 of that fund. Meanwhile, Trader B has just £500 to invest in the same trading strategy.
You can be sure that Trader B will have a very different attitude to risk, and will guard that £500 ferociously. Your trading fund is the most precious commodity in your trading armory – the most important thing you can do as a trader is to protect it from losses. If that means sitting out of the market when others are jumping in – so be it.

Traders with tighter budgets understand this principle far better than those with deep pockets. So, start small and reinvest your winnings. That way, you’ll be unleashing the power of compound investment, which (with time) is the most powerful money-making tool you can apply to your investments.

2. Your mental attitude

When we look at the markets, it’s easy to see pound signs flashing before our eyes, and to imagine that we can hit it big, with huge winnings, and have a work-free life of luxury ahead of us. Then we hit an obstacle … and we’re completely demoralized.

The truth is that big winners are only for traders with big trading funds.

If your means are modest, and you’re trading with a sensible risk profile, you should be looking for modest winnings. And you should be very happy if your trading fund has grown by a few percentage points by the end of the year.

Realistic expectations are essential to trading success and keeping on the straight and narrow.
If you expect too much, you’re likely to start using stakes that are too high and taking unnecessary risks with your money.

Also, if you expect too much, you’re likely to become disillusioned with trading pretty fast!

3. Your discipline and consistency

Successful trading requires: simple plans and clear rules that you can follow to the letter. And that’s why a trading strategy – whether it’s one you’ve developed yourself or have bought in – is so important.

And keeping that trading strategy up and running means keeping track of your results, so you can measure just how effective it is, and assess where it requires adjustment.

4. Your trading knowledge

It may surprise you that knowledge of the markets comes last on my list.

The truth is that all traders will experience rough patches – whether they are novices or pros. What separates the successful trader from the ones who get wiped out is how they deal with those rough patches – in terms of mental attitude, tracking results, and risk management.
As a much smarter man than me put it: “The only true wisdom is knowing you know nothing.” And I think that really gets to the heart of how traders should approach the markets. The more we think we “know” about how the market will behave – the more danger we’re in of making stupid mistakes.

The best we can hope for in the markets is to recognise behaviour patterns, and gain a statistical edge by using those patterns.

So, keep learning, keep disciplined, and keep plugging away. That’s the clear path to a profitable trading future.

HAPPY WEEKEND....
CHEERS!!!

Dear All,
Pls what data do u use for calculatg PIVOT POINT?

I use data from previous daily TF but I want learn more on this please

Thanks

Dear Boss,
Pls what data do u use for calculatg PIVOT POINT?

I use data from previous daily TF but I want learn more on this please

Thanks

iheanyiebeneze:
if you have fat account you can buy eu now for a 100pips take profit for next week and 100pips stop loss, ichimoku cloud has come under the price level.
otherwise buy if it attempt breaking the cloud

I like this guy. God bless u pips good

Bollinger:
As we go into the weekend, here's a psychological trick i need you to ponder and be aware of. As forex traders, amongst many other things we need to master, about the most important psychologically is frustration and an obsessive need not to lose money on any trade. Due to the randomness off the way price moves, it is inevitable that things will never go your way all the time. But here's the trick; when it does go your way, it really goes. So, you need to be aware that an account balance of lets say, 3k will bounce around that figure for many trades. You'll be up 400 dollars, then back again to 3500, then maybe even 2k. This goes on and on for lengthy periods of time. days, weeks, or even months, depending on your system. It is imperative you stick to your system and make sure you limit your losses every time you place a trade and it turns against you. When the right set of trades does come along, you'll be surprised how that 3k will jump to 6k in a blink of an eye. Then the cycle will continue again with the new balance. It is mentally challenging. It is not easy. You must learn to take emotion out of the equation. Never trade when you are tired, angry, happy, sad, sick etc. Always trade with a clear head. Once you feel any kind of emotion, just walk away. This business is easy but hard if you don't know what you are doing.

Sir,
That's y a trader must always wait for.confirmation #Ur point is correct

fxbomovi:
me feel it will buy first before selling again.

will buy en and uj @market open

EURUSD POTENTIAL NOSE DIVING
With a close below the Support 1 in d past.week, I.see EU going.SHORT when d market opens ds.week. it may reach .0720.

All d.same, market is always rt.

I stand to learn from Bosses in d aos if my analysis is wrong

Pls add me.to ur whatsapp.group. 08063643066

igeluma:

pls add me to whatshapp 08037955794

Welcome.back Boss. Pls add me to ur whatsapp group too 08063643067

iheanyiebeneze:
Back from BAN,

Weekly Forex analysis(Fundamental Technical and Sentimental) in progress...


Where are those whatsapp guys, add my number, 08068982819. add my good friend 'ogboraph' as well.
Let me drop some alerts there,
i was sad for not dropping alerts on USDCAD here (FTA) this week because of the Ban.
In this poverty stricken Nation called Nigeria, Its very sad to see an opportunity to make people get money and they miss that opportunity because of the Ban on FTA. My followers, please get to whatsapp as an alternative.

Hello House pls I need ur help.

Kindly educate me on d right parameters for my Moving Averages.

I use both Simple Moving Average and Exponential Movg Average on my 1Hour TF chat.

I use 5 and 7 as parameters. But I felt both MAs are laging.

Ur criticism and submissions are well appreciated.

Always ready.to learn.

Thanks

XM.com or FXCM they are trusted.

I use XM

stokfrick:
Pls I need a trust worthy forex broker with proven excellent service over the years. Can any one suggest?

CALL analysis failed

adeniyia33:
TRADE CALL

UJ is ready to LONG.

JUSTIFICATION: Bear exhaustion, double bottom from low of yesterday

PLAN: Wait for a BULLISH ENGULFING before trade entry

TRADE CALL

UJ is ready to LONG.

JUSTIFICATION: Bear exhaustion, double bottom from low of yesterday

PLAN: Wait for a BULLISH ENGULFING before trade entry

@ Naijababe, pls what do the three white soldier signal in the trading environment. May be I can learn something new Ma?

naijababe:


Three white soldiers circled in red.

Thanks Mama
I am.out with.good PIP though TP hit

naijababe:


Agree, took a short at 17931, I got in a lil cause I could not be sure of a retracement. I am expecting it to go as low as 17550 or lower to 173xx by Friday.

Short order activated

adeniyia33:
If DJIA (US30) current candle should close below the recent hi, I will go SHORT.

JUSTIFICATION: A double top is expected at the expiration of the current candle.

Naijababe, pls ur expert contribution

If DJIA (US30) current candle should close below the recent hi, I will go SHORT.

JUSTIFICATION: A double top is expected at the expiration of the current candle.

Naijababe, pls ur expert contribution

PATIENCE - A NEED TOOL FOR ALL FX TRADERS

I want to thank everyone on FA of nairaland for ur support, advise, training, warning and even sharing of ur trading experiences both present and past.

The good work u guys are doing are yielding results on my FX trading.

One big lesson I learnt here is (PATIENCE) "Giving a trade time to mature"

This has actually increase my earnings during my day to day trading activities.

With u guys, I have learnt to be cool headed and set of all form of greed.

I thanks you all and God bless u for the selfless support on this thread

Adeniyi
dnysamuel@yahoo.com

It takes abt 10.days now.withdrawg from.XM. it has happened to me like three times

dathorobread:
I greet the House oo

Has any tried withdrawing funds from trading account to GT mastercard?, How long does it take for the funds to get to the debitcard, cos the funds has already been sent by the broker. will the funds be credited to the account irrespective of whether the bank account is a saving or current account,in short how reliable it this method of funding. Can somebody help me answer to these question please****Thanks for your anticipatory response(s)

Honestly, i found ds piece useful and helpful.

I must confess i still have a lot to learn even as i am planning to increase my capital by $4,000.

I have discovered that money makg is as easy as inhalatn / exhalatn. Just tired of workg for other ppu.

Fx has given an opportunity of being my own boss.

Thanks Model

iheanyiebeneze:
This will help someone.
GREEK EXIT FROM EUROPE. "Grexit"

There was an article just last week that showed 30% of traders are so young that they’ve never experienced anything other than near-zero interest rates.

It got me thinking – what percentage of traders never experienced the markets before the word ‘Grexit’ was coined, back in February 2012?

The threat of the Grexit has been hanging over Europe for so long, but could this really be the endgame we’re moving into?

There are plenty of people out there who’ll predict outcomes for you…
Scenario A: Greece leaves the euro, emboldening anti-austerity parties across Europe.
Scenario B: Greece caves into austerity (looking less likely, given the ‘never surrender’ stance they’re taking).

Scenario C: Continue patching up the euro with Sellotape … bridging finance … promises of economic reform … kicking the problem into the long grass.

And plenty who’ll tell you what each will mean in terms of the move on the EURUSD.
Problem is that there’s no way of knowing what’s already priced into markets … and volatility leaves anyone relying on stop losses very vulnerable. So, while markets are this skittish, how can we safely make money?

4 ways to protect yourself from the possibility of a Grexit

1. Go with the flow Increased volatility doesn’t mean you have to increase your tolerance to risk. Know your limits, and stick by them. Consider widening your trade parameters (but not your risk levels). Keep an eye on the average daily range and how this is changing – it could be wise to increase your stop limits and targets accordingly, but remember this must go hand-in-hand with reduced stakes.

If you widen your stop loss, you must reduce your stakes accordingly.

2. Protect, protect, protect The most important thing a trader has isn’t their knowledge of the market … or their winning strategy … it’s their trading fund.

And you need to protect it ferociously. It may (and should) be money you can afford to lose, but treat it like it’s your grandmother’s savings.

The simplest way to close ranks in turbulent trading times is to reduce staking levels. (Remember, if you’re widening stops, you’ll need to do this anyway, just to keep the same risk.) But cutting your risk in half would be a very valid approach when there’s considerable uncertainty in the markets.
Another way to protect your trades is with hedging, rather than relying on stop losses. In volatile times, stop losses really show their weaknesses. This is where a carefully matched hedge will give you far more security.

3. Catch up on housekeeping … If you’ve taken a step back from the markets, then it’s the perfect opportunity to do some housekeeping.

4. Discover the Asian session Less volatility … more predictable periods of activity … and perfect for night owls … The Asian session is the Cinderella of the forex timezone and well worth a look if trading later in the day suits you.


Till next week.
Hit like if this helps you.

Thanks so much for the link..Very good info

ayox2003:
I'm going to post the whole article later but this is a good one to read for the weekend.

How bankers trade to make money:
www.fxstreet.com/education/forex-basics/making-money-in-forex-is-easy/2013/12/05/


Frawzey

@ Boss,
I doubt EJ reaching 136.00 b4 d news release.. All d same, already coasting home wt good PIPs on EJ already.

Ab initio, gazing at ma candles till then

iheanyiebeneze:
NFP soon, consider UJ and EJ,
I will sell EJ at 136.00 and tp is 135.30.rrr=1;1

Hello Boss IHEANYI,
chuckles... Sorry for the name was a TYPO.

I already told u in one of my mails to u that I will need some time to achieve another account on FX as u will always say that as beginners, we must be disciplined.

I know what it means to u. All I ask is some time to watch my progress in the system... thanks once more

iheanyiebeneze:
Thanks my Dear ADENIYIA33, am happy you are making it now in Forex. That you didn't pass through what i went through during my formative years in Forex is my HAPPINESS.
But you treated me bad by not opening LIVE account with my signature on Forextime. http://www.forextime.com/?partner_id=4900129
Meanwhile my name is IHEANYI and not Ihiniezie, unless you have giving me a new name.(on a lighter note)
SAI FOREX
FOREX...

Happy day fellas,
Thanks to all of u out there. U av all helped sharpened my trading experience.

Boss Ihiniezie, thanks for the gift of Indicators.

I have been realy blessed b all of u on this forum,

I am doing fine now and happy to say...FX is REAL...At least I am making my living from the little DOLLY accruing from the PIPs.

God bless u all and pls keep the good work going and let's all remain focused...

Sai FOREX

I have never seen such spread on GU...The broker must be a scam

Shevychen2:
^^^ If I understand correctly, 5 pips is the bone of contention? Must be spread issues. But which broker has a 5 pips spread for GU? 2 should be the maximum.

Hello House,
Pls someone should enlighten me.on how PAMM account works in forex.

How does it favour a trader, amd what is d TAKE for an Investor?

Thank u in advance

Boss,
Yes, Still at the Babypips running my FX course...

Capitals:


have you checked babypips.com out?

Pls lead me outa this darkness bro..

I am here to learn Sire

Capitals:


That s 56pts bro, you calculated 563pts cos of the number of digits ur broker offers

Check this out

Open: 1.06370

Close: 1.06933

PIPS = ?

U may like to run a check sire!

corruptst:

Do u understand pips at all cos I don't understand how u wud av gotten 563 pips frm long on EU

LONG on EU

Time elapsed: 3 hours

+563 PIPs..... Coasting home to eat Hot Amala and Gbegiri soup

adeniyia33:
I dey watch EU

Ready to LONG anytime from now

I dey watch EU

Ready to LONG anytime from now