₦airaland Forum

Honestly, am I the only one who thinks the market is frowning?

Still watching, anyways!


Frawzey

Lol.

When did rap fiends and hiphop heads become teeny R n B fans that crown every new artiste the best?

I mean, I've heard some say Bieber and Breezy are the best R n B artiste, quite acceptable because anyone swings the pendulum in R n B! Once you can stir up emotions and some MJ style, you're good to go!

But this is hiphop! A single album doesnt make you the greatest neither does some coupla bars make you the best! Longevity, consistency, being versatile and real makes you a respected rapper! I like K Dot but calling him the King? Like really? When he's not even been booked for half a dozen months? Like making double digit millions annually, with fame and fortune and giving us dope joints like Nas, consistently? Yes!

So comparing Eminem to K Dot is unbelievable! I mean Eminem

Y'all need to stop this self-servicing! Even Dre, who's worked with them both, would never ever say this sh't!

Anyways, nothin's new under the sun - One Direction is also the best boy band in the world! hahaha


Frawzey

WildChild00: Like the saying goes, "One man's meat is another poison" in forex there are different ways to kill a bird.
One hour ago, I entered
sell Gbp/Usd @ 1.54400
SL 1.54600
TP 1.54200

Ema binu simi Sir.

OliverPin: @ayox and OnlineR the guy just made an error matb while rushing. the price is below the SL and TP which is abnormal for a sell position. mayb his TP was suppose to be 1.5320 and not 1.5420....

Okay. I think I erred too. But the risk-reward ^ aint also good enough, zactly 1:1.


Frawzey

WildChild00: 30 mins ago.
Sell Gbp/Usd @ 1.5400
SL 1.5460
TP 1.5420

Boss,

I believe you need to read/google about risk reward ratio. Your SL/risk (in pips) is greater than your TP/reward (in pips). It should be the other way round so as to minimise risk. *peepin' Tom*


Frawzey

Stopped out of EURAUD with +320 and just closed GBPUSD short +60.

Not in the mood to trade! Later


Frawzey

Moved stops on GBPUSD to Break-Even.

Locked in 320 pips on EURAUD. Still holding position.

@Honeric, will post link later in the day.

Hae a great day!

Frawzey

naijababe: @ Ayox, Your oscillator is showing a bearish divergence too.

Oliverpin, no shakes, some might just find your comment a tad strong is all I am saying but hey man, we cool. I will send you supertraders by Van Tharp

Yes Ma'am

OliverPin: am already. though i hope i will not trade today except on a demo acct to be on a safer side. lol

I hope you dont since you've decided not to!

Bed calls now!

Frawzey

GBPUSD: Short at 1.5505 SL and TP as stated in previous post!

...so many unanswered question on the thread, but we would all find a way around it tomorrow.

Have a nice week ahead.


Frawzey

OliverPin: Lmao* well, i will create mine mr ayox thanks for taking your time to create that for me but am not a fan of islam so i cant have that on. but hey thanks alot you got me laffing my flat ass out

Atleast you like am! Just wanna get you juiced-up! Have a more disciplined week ahead!


Frawzey

martog: Mates, what do we have on the slaughter slab this week?

Two pairs:

EURAUD: Holding a sell with close monitoring at the range rectangle. A support's spotted at 14456. Once its broken, na to still hold the short.

GBPUSD: Gartley pattern, will take a short position when market opens till SL: 15549 and TP1, 2, 3 respectively.
(First chart shows how I got my pattern and where I drew my fib)


Frawzey

honeric01: interesting read: The richest man in babylon.

Weekends, reading days for me.

I need books on psychology, patience and more on emotion.

All books by Van Tharp. Got a soft copy of Naijababe's recommended Market Mind Games too. Will upload on 4shared for you to download. Quite large!

@OliverPin, so the meme didnt upload earlier. Here is it!


Frawzey

OliverPin: Very interesting points from info, frenchman, naijababe, ayox, bemp and the rest..... The problem am still having in this biz is the issue of patience. as a student i have unlimited time to watch my charts everyday and that has made me close huge numbers of trades that could have made me over 10times of what i took as profit or loss. I dont know how to address this issue. pls i need help on this area. How can i take a trade and leave my laptop for over 5 or 6 hours? it seems impossible to me to allow a trade run for days(apart from just one occation.. UJ two days till NFP). the 30 to 40 pips retracements give me head aches. Pls what am i missing?? ..

Bro,

...and these days this is what I do. But mine is understandable cos I'm always busy during the day! Bro, I must confess, its very very hard! Very hard to leave your PC when you are free! Welp, my advise is this: Diversify! Since you are a student, you can go to www.edx.org or www.coursera.com for free online courses so that your dont just plug your internet with the sole aim of trading and trading alone. I bet that these site would be another reason you browse the web. Atleast you would now be looking forward to doing two things: Trading and watching educational videos. E no hard like naija acada, maybe 6-8hrs weekly and dem go give you certificate like Harvard, MIT and so on.

MOST IMPORTANT, get a small book/diary and record your intended trade before you enter the market. Make you no just dey clinche any market without pre-planning. Something like this

Date/Time:

Pair and entry price:

Risk/SL:

Target: TP

Lesson's learnt from the market:

Lessons learnt about myself:

Its not necessary to let your trade run for days, anything can happen just make sure you stick to your target and if you're lucky to be around when things go wrong, close your position.

Lastly, use this meme as your background wallpaper.

https://static.quickmeme.com/media/social/qm.gif

Frawzey

The little lessons I learnt on this thread last week, although we all know 'em:

1)Seize new opportunities: They say ladies first, so let me start from Naijababe. I think Naijababe mostly trades Oil, Gold, Dow and one other currency - I no remember am now sha- but she rarely, I mean rarely trades EURUSD and EURAUD. I was suprised when I saw her post last weekend on EURAUD. I was like, 'Correct, you self don dey the spirit'. Why I said it was because: 1) I had also been watch the pair 2) She was ready to 'diversify her portfolio', kinda like doing the unsual, seeing a risk in an unfamiliar territory and she went for it. So whats the lesson here: (mind you, its my own lesson, no be for everyone, just wanna share am ni o) So the lesson is that dont limit yourself once your stragey identifies and opportunity even in a pair you dont really trade with. Go for it! Take the risk! Dont be dogmatic! Now, both trades she took brought her good profits that her usual pairs did not bring this week! Lets say you are used to trading EURUSD and your strategy spots and opportunity in USDCAD, why not take the risk and go for it, because you've got only one shot!

Y'all need to listen to Eminem's Lose Yourself, by the way (The joint make sense wella)

Note: This is not recommended for fresh traders, but for oldies with a good strategy!

Me I be cassanova, I dey friend all ha 'em pairs, anyone whey shake him nyansh, I go groove am. Worst comes to worst, e go diss me!


2) Throw away sentiments: On this thread, last saturday, we had already speculated that EURAUD was a good short! Abi I lie? Natruetalk, Naijababe and Rozay shey I lie? Infact we all the easing whey Aussie Bank do, e no crash. E kon even strong well. NFP na him nail this lesson for my head wella. The koko is that 'em analyst will say crap and talk rofo-rofo but na wetin you see for chart na him be koko. Even if na Barclays or Pimco or Bank of America talk, make person no listen at all because NO ONE - I say NO ONE can predict the future. (maybe, TB Joshua sha, no be me talk am o, lol). Also throw away your own sentiments, your own herd mentality or follow-follow package. Trade what your strategy says and mind you, when everyone seems to be going towards a direction, cross check twice, they might be very very wrong. In short, listen to the rhythm (aka gbedu) of the market and what price says and all other things shall be added unto you.


Abeg, I go continue others later, too much typing dey bore me.

@Benpuzzy, I got u abi! Lol, didn't just learn 'em. Just wanna make d thread more interestin'.


Frawzey

benpuzzy: Good Morning Sir, hope u are enjoying the dividend of this week with friends around u, just to remind u of ur promise to share what u learnt this week with us, more grease to ur elbow.

Ok brov,

Lol. All I learnt was on this thread. Will post when I'm done.


Frawzey

Hi Traders,

What a week! Just one trade banked 400pips. About 80 perday!

Learnt alotta things which I would share tomorrow, by Gods grace!


Please do have yourselves a wow weekend! Life's short

As usual....


Frawzey

Hi Traders,

What a week! Just one trader banks 400pips. About 80 perday!

Learnt alotta things which I would share tomorrow,

Just in:

The main points from the Statement on Monetary Policy for the RBA today:


•GDP growth seen at 2.25% at the end of 2013 vs 2.5% previously
Sees 2.5% mid-2014, 2.75% to 4.25% end 2015
•Recent inflation, wage data had not lessened scope to cut at the August meeting
•Left the inflation outlook broadly unchanged
•Economic growth expected to stay below trend to mid-2014, rise above trend 2015
•Underlying inflation seen at 2.25 % end 2013 and mid-2014, 2-3 % out to end 2015
•Lower growth, labour costs to offset inflationary impact of as fall to date
•AUD still high, further decline would raise profile for economic growth and inflation
•Mining investment likely to decline “noticeably’ over next few years, timing uncertain
•Unemployment rate expected to rise gradually for next year or so

The AUD initially dipped but has since come back to the above the session’s highs, currently just above 0.9120/25.

http://www.forexlive.com/blog/2013/08/09/rba-statement-on-monetary-policy-summary-of-main-points/

Nothing to worry about. Back to bed!


Frawzey

Hi Traders,

I'm still gonna be holdin' my short on EA till next week. We might have some upward move tomorrow so I'm lockin' 100pips now. Entered from 1.4883.


Frawzey

‎​Good Morning Everyone!

Let's make today a better one than yesterday while allowing for further improvement tomorrow.

Happy Eid to all our Muslim folks.


Frawzey

An AB=CD pattern is already complete on EURJPY

Once 129.20 resistance is breached, then a confirmation to the north sure. Will buy once this happens.


Frawzey

Wowzer!!!!

Markets going crazy on BOJ's statement. Ride on EURAUD


Frawzey

natruetalk: i wouldn't rush to trade jpy pair today, may be after the close of market today

but there may be great opportunity on gbp/usd or eur/aud

eyeing eur/aud if the right neck of the HS break for atleast projection of 165pips

Still holding my short since the RBA slashed rates. On the right wing on the shoulder of the 1HR TF, there's another mini-H&S forming.


Frawzey

naijababe: Give me the 411 on what's good jare, I have been reading more than I usually do in recent times. Only problem is that these days I read like 3 or 4 books together

Na same here oh, M'lady. All the way to philosophy from finance books. Na so be demand now o. Hahaha. You are not alone!

When I'm on YIM, will buzz u.


Frawzey

naijababe: ^

You need to find Denise Shull's Market Mind games!That book eh?! All I can say is darn

Hmmm. Books got a catchy title. Will lay my hands on it. Meanin' the other 11 unread books on my shelve can wait - ain't on FX, though.
Been doin' mo' of books these days, anyway.


Frawzey

naijababe: https://www.mirusfutures.com/futures_trading_education/futures_trading_webinars/archives


useful for all kindsa stuff on trading

Weekend digest - thanks.

Also wanna share this with you. Yes, you alone, Naijababe. Lol.

http://peterlbrandt.com/my-opinion-of-current-futures-markets-august-7-2013/

And this - wisdom is embedded on this site:

But digest this:

www.mercenarytrader.com/2013/07/positive-expectation-scenario-gaming-and-moving-beyond-certainty/

Please bookmark these links homepage if y'all would be tradin' for a long time.


Frawzey

XHTML: ^^ Very Inspiring. I wish her all the best.

She's definitely bound for great things in future.

Yes Boss!


Frawzey

olillywales: Oduwole is reportedly committed to Rebrand Africa by showing the positive things in about the continent, and making the case for education the Girl Child in Africa.

Zuriel (which is Hebrew for God is my Rock) believes if she can walk a mile, then there are girls who on seeing her work and progress made, would walk a mile and half.

www.metronaija.com/ten-year-old-nigerian-girl-makes-forbes-magazine-history/

Inspiring! Our daughters should raised to become conscious and active Africans.


Frawzey

erniok: buying aussies is not a smart market move. the RBA are still very dovish. two points to note:
Says possible AUD could fall further
Says lower AUD would help foster rebalancing of growth

Erniok, Aussie has already priced the rate cut in. Plus, herd sentiment in trading pays no more. Last friday was my silent lesson, Market said when it seems like every one is right, they are most likely to be wrong. Just double-check.


Frawzey

rozayx5: yeah, too bad i left the EA sell trade cause of the rate news , missed out on 70 pips again

I feel u bro. Based on last fridays experience, I sold it instead of buying. Went against sentiments. U can still join us in the sell-off.


Frawzey

So Aussies rate cute is gonna be 5:30 am? Thought it would be around 2:30.

Time to hit the sack.


Frawzey

pappilo: My friends mum died after having a tooth pulled (true story). Stella Obasanjo died after a simple tummy tuck.

I'm sorry. Incredible!


Frawzey