Bidemi12's Posts
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Anyway, back to business. As said in my previous post, the GBPUSD is in a downtrend and lower lows has been formed on its way down from it's first retracement. But, the pattern is not complete yet, and we are hoping for a retracement that will break the trendline formed by the lower lows and it looks like the retracement has begun. likely points of entry for a sell are 16303 and 16343. These points are both crucial retracement and expansion limits that price reacts to. hopefuly upon reaching these points, we shall enter two lots exiting the first at price 15906 and we will let the other run to price 15625 (whenever that happens, just set and forget). happy pipping people |
A lesson i learnt the hard way and i pray nobody should ever have to go through what i went through is, never, ever believe that forex will be your only source of income, unless you have between 50 to a 100k as equity. As bouyant as i am i cant even dream of doing that. we are all human, you never know when your greed will kick in and reduce your account to a heart shredding level. It will save you a lot of headache if for now one thinks of forex as extra gas money. Ordinarily i would never comment on such a thing but the earlier comment is what newbies see, believe, and eventualy which gets them into serious personal, proffessional and financial problems. Because like i said, from experience if you are not careful, forex can ruin your life. I dogded a bullet many, many years ago and i pray no one has to grow through what i went through to learn this trade. |
namdo: ![]() |
Damn, i'm good!!!! ![]() |
namdo:Scroll back to previous pages; i have already put up charts with which i showed how i trade. |
Let me help you before you recieve a rude awakening: Breaking down GOLD; Gold is also on a downward path. Its downtrend was confirmed on the 17th of may. It has made its first and second retracement with lower lows forming on it's way down in the second pass. To ice the cake it broke the trendline formed by the lowers lows formed on its second pass. The smart thing would have been to sell 2 lots upon the break of the trendline, close out the first at price 1477.80 and let the other run to 1422.07. happy pipping ![]() |
Breaking down the EURUSD: The downtrend on this pair was confirmed on the 1st of june 2010. It has finished it's first retracement and we are waiting to see what it will do on it's way down. will it be a straight shot down or will it form lower lows. i'm guessing we will know by 2015. But all in all The Euro is in big, big trouble. eventual tp is 9480. My equity is not that large (i wish i had a million bucks) or i would have taken this trade for my retirement. |
Breaking down the AUDUSD pair: This pair also already confirmed it's massive downtrend since on the 16th of may. It has done it's first and second retracement before making lower lows on it's way down (GBPUSD made only one pass before making lower lows on it's way down). To put the icing on the cake it made it's final retracement breaking the trendline formed by the lower lows upon which we entered 4 lots. we will exit the first at 10515, the second at 10396 and the last two at 10180. This is the reason i advocate trading longterm. you will always have a clearer view of the market. All that candle reading, indicator depending, pivot point guess work dont work. believe me i tried it all. It took me my initial 7 years of loses to realize the truth. Now its 4 years, 6 months and 12 days of profits. Thank God!! Happy pipping people ![]() |
Breaking down the Great british pound vs the US dollar. The Pair has already confirmed it's massive downtrend and has already completed it's first retracement. Not only did it complete it's retracement, it also formed lower lows on it's way down, which is very fast and very, very rare. (usualy takes longer. USDCAD took forever also did AUDUSD) What we are hoping for is a second retracement breaking the trendline formed by the lower lows upon which, we will enter a sell for a tp of 16053 and 15325. Price action people; understand it and you will be unstopable as a trader. Happy pipping ![]() |
A little forex education; Do away with indicators, price is all you need. never borrow funds to trade, it is a recipe for disaster. Avoid opening new positions everyday (scalping), it is a sign of immaturity in this game. trade long term. what we trade in general, are extentions and retracement and trying to guess work moves will kill your account. and lastly, avoid people who claim to make millions overnight, they will lure you to your doom. |
odiaero:Must have blown his account today. ![]() |
werepeLeri:Madness really runs in your family |
odiaero:My sincerest opinion is to sell away. But i look at the market long term. so if you dont have the stomach for long term trades then dont. but if you do then sell for a tp of 14133. |
If you take the time, study charts at your leisure. what you will notice is patterns that re-occur before a trend begins and ends. believe me when i tell you; price action is not erratic. the only problem is greed and impatience. |
believe it or not nzdusd will fall to 7355 1st TP, then 6930 2nd TP, then eventually 6550. So plan ahead. Always trade and think long term. it will save you a lot of headache of jumping in and out of trades (scalping) which will eventualy and inevitably kill your account. happy pipping. |
namdo:Hello, just a little tip, for your sake please do away with indicators. Trust me, they do nothing but make you feel good about your trade decisions. They are lagging in nature and completely useless. A trendline can tell you when a trend is slowing down or about to develop. just a tip. happy pipping. |
Usdjpy is very bullish and i would advise to buy for a tp of 8200. . . . . happy pipping ![]() |
werepeLeri:You are a complete and utter m.o.r.on. God i weep for this country called nigeria. God!!! No law. No security. No nothing. And you sit there to type crap. With people like you in Nigeria we are doomed. how can you compare that with bull fighting? for the people who engage in it, it is a sport which is done in a controled environment. first responders are always around in case of an emergency. tell me, how controled is that mayhem on youtube. was it even sanctioned by the authorities? My guy if i were you i would go hang myself from a tree. you obviously are a cancer. |
A little forex education for newbies: Learn all you can about trendlines. Trendline is one of the most important tools you can use in your trades. There are two types; the resistance trendline and the support trendline. the resistance trendline helps to identify the begining of a trend and the support trendline helps to identify trend reversal. No indicator will do this for you because trendlines gives you accurate information in real time. Another tool is fibonachi. Fibonachi is nature in itself. look at any object, be it a flower, your hair, your car, anything and you will find finobachi ratio's in it. So you can imagine how powerful it is if used properly with your trades. Finobachi will show you price reaction points better than a pivot point will. Understand this two tools and you will be unstopable as a trader. |
usdcad and chfjpy are already on their way to said targets i put out last week. Time to move to a new pair. Audusd looks good. Short for a tp of 10360 or 10138, remember i trade long term with stop losses between 500 to 700 pips, Happy pipping, ![]() |
yesman:Thanks for the info man. . . .that's what i like to see here. Productive inputs. I actualy registered for the competion on friday when you first posted it, jumped from 900 ranking to 176. i dont think i will win this month's competition but lookout for me next month. joined 2 weeks late you see. so, you are tinktank. . . you are doing pretty good. But that's only because i'm not there . . . . see you up top bro, . . . . . |
yesman:Thanks for the info man. . . .that's what i like to see here. Productive inputs. I actualy registered for the competion on friday when you first posted it, jumped from 900 ranking to 176. i dont think i will win this month's competition but lookout for me next month. joined 2 weeks late you see. so, you are tinktank. . . you are doing pretty good. But that's only because i'm not there. . . . see you up top bro, . . . . . |
can you imagine? almost missed it. . .Audusd has been hovering around the 61.8 all this time . . . . .300 pips for sure. Time to sell another 2 lots. Never ending cycle. . . . ![]() |
Trade ideas for the usdcad: as said before the usdcad is south bound and we opened 2 lots at price 9873 closed one out at price 9751 and the other to run to 9500. We are now waiting for chfjpy to hit the 61.8 on 4hr to enter another 2 lots. Never ending cycle. . . . . .happy pipping ![]() |
honeric01:i dont work nor trade with mv. i only try to stress your ilogical reasons for crucifying a broker for exactly what you turn around and do on NL. and for your not posting while trading. . . .you seem to forget that NL stores your previous post for future quotes. Anyway that is neither here nor there. My point is never argue just for the hell of it. might come back and bite you in the arse one day. |
honeric01:Remind me once again the difference between Marketiva chat service and this thread . . . . .how did you put it again?. . . . . .O'yeah. . . .distracting. |
