₦airaland Forum

Mixed feelings, EURAUD tp in view, now 680+ and counting (Happy me)
CADJPY SL in view. If it hits, this will be my first negative loss in abt 2 months. Irrespective of how well i think I m prepared for the losses, they still hurt.will be losing 90pts there. Thank God for trades like EURAUD, at least 1000+pts is guaranteed from that one(even if it reverses), thats if they don't hit target

No mind me jo, I just de encourage myself (And David encouraged himself in the Lord). Anything can still happen with CADJPY sha, I don analyse am tire. I played by all of my rules but ...

If we hit sl, I ll just take one profit on EA to console myself wetin man go do

Yep, I know we had a number of them back at Nigerian Navy Sec, Abeokuta in those days. cant tell of now

brainbucks:
uncle bros...till tomorrow o money wey I withdraw from FXTM siiiiince 31 July neva still reach my hand.

hm...I am chopping popcorn and watching in 6D

That's not encouraging, I do hope its an isolated incidence and would be sorted out nicely.

Shevychen2:
Well done boss..

Second failure at that level may be a pointer to some heavy downward shedding.. Holding my first trade on the pair this week till tomorrow. I expect the data from Europe in the morning to add to the downward slide but will probably move to BE just before impact.

That s nice bro, honestly, when I stated I was closing one of my trades at that level, I almost stated ''I m sure you ll be going short there''

You know I see them as retests, its like using an axe on a tree, the more you hack at the tree, the more the tendency it ll fall/break ( that s how I see it). I really don't watch or care about the news, if its negative the best it ll do is drive price abt 200pts against me and if its positive perhaps it ll help me get to my target faster
The thing is I anticipated all of these bounces so I m not surprised, I would have been surprised if there were no bounces at current levels. Its still acting my script. And if I m wrong and my sl is hit, I m leaving with lots of pips

I m adjusting my sl so the least each remaining trade will pay is now 200pts, up from 100pts

jorel1:
Nothing beats trading from the tops and bottoms (and letting your profit run),trading in between is like being caught in the middle of the jungle in the mist of wild animals ready to devour you .
CC Capitals

Lols, I still wonder how some traders are able to trade effectively in the middle . Its too noisy in the middle for me

Taking some off the table here i.e adjusting the visible tp. Thats +460pts, to let the rest ride

CHFJPY, Buyers finally show up and break the upper trend line in a most unconvincing manner (to me), wouldn't be surprised to see a strong sell response. Watching like the eagle . ..

natruetalk:
Agreed boss, very likely d pair will continue climbing up in support of EURO I expect to be stronger against USD ahead of fomc 2day. I will watch it closely 2 c how it will react to d zone. 4 me to buy EA I must see a [b]FAT candle passing thru d "1.526x" zone[/b]. without seeing this happen I remain @ sell side.

Yes boss, I wouldn't buy any of that now. I m still in cos I have a trade position advantage. Sellers are going to have to work real hard to get it down from here, the best I think they ll do is have price trade in a range and sideways till we get to 1.59x for a potential downturn.

natruetalk:
below is my post of 27th July, d direction is clear EA is bearish unless it convincingly breached the RED zone. this doesn't mean buyer will not make gain in d short time. 4 me and my household we will continuing targeting EA sell until the zone get broken.

Nice one boss, I sincerely hope you are wrong. I will getting off the bus just before 1.539x (last long tp), already took some off though.
Its always great hearing your perspective one them pairs

fxsly:
I have been following ur charts.... u are good at what u do. I ran out of EA sell as sellers left the market
u know what its like standing in the way of a moving vehicle.....

Thanks bro, Been in any of ioamt classes? just wondering, heard that concept there first. Keep doing your good work

fxsly:
. confusion conference

Lols, no be small confusion conference. Very complicated

Potential H/S reversal, that will be good for my ealier bias. Now watching USDJPY

Buyers taking too long to break upper channel, probable signs they lack conviction in driving it higher. Also observing a potential H/S but right shoulder seems draw out too long. More signs we may test my entry and maybe the low. Ready for whatever they decide anyway

fxsly:
that's EA 4HR chart and that was one of the reasons for my short call then. for those trading with channel brake out that should be another heads up for us. Lets keep learning

Nice one, I m observing from a different perspective. And interprete inability of price to reach lower trend line as a sign of weakness from them sellers

EURAUD inability of sellers to drive price to lower channel line, probable sign they are not convinced. too early to judge. To jump out if they show conviction by their actions

My point of view, chfjpy. Profitable week to all

raydatluvs:
I dunno abt dat one... The one am talking abt is 2mao at 10...u cud still register I suppose

Ok thanks, was referring to lagos forex expo held at Sheraton.

raydatluvs:
Evening, is there anyone here going for the forex conference at muson centre 2mao organised by fxtm.

Was only aware of that at sheraton and towers yesterday and today

shorty002:
No am not looking 4 d quick way oh...lol I dint say that. I will take ur advice n work on. Thanks alot. Am looking forward to learning more from you. God bless

I assume you haven't made any trade calls yet. I ll prefer you open a small demo acnt, say 500 and determine what your max risk per trade would be if you were trading such an account.

The reason i will like to see a few of your trade calls is so I can get a feel of your trigger, they don't have to be right. They just reflect your mindset as it relates to the market and that's important going forward.

Shevychen2:
Thanks.. I already took something from the brief EA return journey as per usual strategy but was keen to know what you'll do if it heads straight down. Well done boss.

If it heads straight down I l let my SL do the needful, worse case is a small win. many small wins equal a big win

shorty002:
Ok no problem thanks.

You understand it will take may take a LOT of time right, more so I more a swing/long term trader, which means more and more time, so if you are looking for quick fixes then . . . .

shorty002:
Thanks alot for your response. Well i dunno mayb sum people arent just meant for forex...lol. started trading since abt 8 years ago but gave up live trading 4 years ago when it just wasnt working out. I have been on n off demo but decided to give a try again. I dont hav a specific strategy, tried using indicators woth moving averages but de always lag. So i recently started studying more abt supply n demand but u hear RBD and DBR, d example charts de give makes it look so easy only for one to go to real chart n it looks more confusing than d online lessons. U say its simple, mayb u r just blessed to see what sum odas cant on d chart . I wish I cud about a gud trader sha but wonder weda dats not my calling...lol. please teach me now, I promise to b a fast learner. Can I have ur number? Where do u stay. tthanks.

I think I understand, though it wasn't quite what I was expectng, thought you already had a strategy you were implementing. In any case did you try RBD, DBR with your indicators? I ld be lying if I said I knew how exactly to turn it around in your favour, but we could journey through anyway. If you have a demo account you could place a few trade calls and be willing to state WHY you are making these buy/sell decisions, how you guage if you are wrong, your targets and so on. . , and perhaps I could give my trade calls as well and see if we can learn anything.

Shevychen2:
Oga Capitals still on the long term practice, how do you know when to possibly close a trade and avoid losing 300+ pips? Looking at EA and wondering if it will go past the current highs before going back to that entry zone.. You also don't move to break even after some movement. Care to share your thoughts on these?

Bro, I think see what you are saying. Before I took the trade I had my profit margin set, thats different from my profit target which is usually 100+pts below the profit margin. and if we trade up say 80+% in the dirction of my first target then I adjust stop loss on the first to make at least some profit from the trade. I do all of these but I m nt really panicked if price gets to a level I m certain I wont take a contrary trade at. The EA you referenced, I wont sell EA at current levels, not like its impossible for it to sell cos I wont buy either, but its not my idea of a strong supply. I have adjusted my stops to make at least 100pts for the stress, apart from that its not doing anything I wasn't anticipating yet. I expected to see a bounce at that level, so its still acting my script. Unexpected will be it retraces down to 100pts from my entry.

shorty002:
Hi, thanks 4 ur response. But I always hear pple say supply and demand is much more dan rally Base drop n drop base rally. Is dere ny oda tin u look for apart from dese n if no, how do u pick ur Base I mean what do u look out for in considering a base to b valid? Thanks

Its really that simply to me (people enjoy complicating simple things guess it makes them look sophisticated) but just like indicator signals you could loose out if you attempt to take all supply levels as an opportunity to sell and same for buy, at least that's what I have learnt and find working in my business. There are a few things to look out for which varies for different people, and which makes one level more likely to hold than another. cant possibly outline all of it (I m not that patient as each one has a WHY am looking out for it, which I think is more important and gives it a context) One of the most important for me is PROFIT MARGIN, some of the reason I look out for this is because,
the bigger the profit margin, the higher the probability that my trade will work out and I see fx as a game of probabilities so anything affecting this is important to me. Also I realize I won't always have winners so I love scenarios where one win ld require 4,5 and more losses to take back and 4,5 outright losses take a long time to happen for me. Every one has something they believe in, for me its the bible. It says even Christ did what he did for the Joy (reward, profit margin) that was set before Him. So if risk reward is not such as gives me joy, I usually am not interested. There are more but cant put all in writing, its tiring. . .

Why not give me a hint of what you are doing and why you feel its not working lets see if we can share ideas as to how it can be optimized. you really cant trade exactly like someone else, but can optimize whatever you re doing for profits. Hope this makes sense

brainbucks:
if you're already scared then forex is definitely not for you

go find a 9 to 5 instead and be sure of your monthly peanuts paycheck

Please have they finally done it? I m considering working with them

shorty002:
Thanks for ur response. But what r d tins u look out for to pick these levels? Is dere any book/material u can give me to read? Is dere ny mathematical calculation involved in d levels? Cos attimes I notice d level u pick is quote far from ny historic data. Sorry 4 d many questions. Thanks.

I look out for certain patterns, rally - base - drop is a typical supply level for me, opposite for demand levels. Books/materials? I guess you are referring to some that may have helped me in my journey, yeah I got some but just technical analysis book. but honestly I only learn from them based on the specific areas I was trying to master per time. I can't take the all the authors say cos there is always a context an it gets confusing out of context. Its hard trying to put it in writing.

I don't understand the bolded. Hope it makes small sense

EUR buy first tp in view (faster than anticipated) and chfjpy late buy, I hope it goes well cos the risk is quite high. Either ways I have my next move planned out.

mrikay:
the euro is quite strong... Making me see red everywhere.. Good morning, House!

Honestly been wondering if there s a fundamental undertone, its moving up so fast.

watching chfjpy for potential buy

danberg:
Good afternoon house, I'm doing a study on a broker (NewForex) with a LIVE account. I placed two trades yesternight before going to bed and woke up to find my stops were knocked out without the price candles reaching them.

Can anyone please explain to me if this is right and if not what steps to take against the company? Kindly see screenshots. Thanks

You probably didn't put spread into consideration while you were placing your stop loss. Could be because of the spread

shorty002:
OK. pls can u explain how u pick your trades I mean explain your trading strategy? Thanks in advice :-)

OK, sorry I didn't quite get you the first time, thought you were indirectly referring to my mistake.
It s really hard to explain in one post, but I basically source for supply/Demand levels (support n Resistance) That I expect particular responses like buy or sell responses and trade off ONLY those levels.

shorty002:
Hello, please what's your trading strategy? :-)

LOLs, its actually a EURAUD buy jo. That was a mistake