₦airaland Forum

natruetalk:
I gave dis expo yesterday. d zone is what we trade in my office, we have exactly good entry at d zone cos dey don't mind d risk but me join late as show on my chart

2nd chart is d update

Nice one boss, my trigger didn't give any signals so couldnt take any of that. I ll just wait for the 1.595x. Hopefully the price auction will get there in few weeks/months.

iheanyiebeneze:
Thats my man buy at 94.50. thats Price Action indeed. Remember to take first take profit at 14DMA, 1hour time frame... 94.80 and second take profit at 100pips

Thanks boss, I m hoping we get a lower low from last weeks and would hold for bigger price moves if the call is right

Closely watching CadJpy, to buy any moment I deem fit

mrikay:
Where we dey sir? Make i followw as e dey hot!

was referring to my tp on d chart

Finally we get there

natruetalk:
morning house. for those trading EA here is expo of our eyeing zone watch out if showing any sign of weakness

Nice one bro, eyeing same.

800+ and counting, would close any moment. Love it when patience pays

Shevychen2:
My technique should be clearer now Sir

Instead of holding out for 200+ on GA alone, took 200 pips on GA and GJ with EN up 60+ pips.

Yep, I see it bro. Just some mild tweaks apart. I m not comfortable taking revisits to a level like you do, cos I cant tell which one will lose. So I just take the first trade opportunity, the first time price visits my zone and monitor.And seems you just focused on a handful whilst I m looking at about 33 diff pairs and adding more when I see trade alerts (thats one of my benefits of coming here, like someone says buy nzdcad and am like, I have never seen that pair lets see if it meets the basic trade criteria. . ..)
My trade criteria are stringent its hard for the pairs to meet it. so if they do, I hold for as long as I deem fit

Capitals:
Closing gbpnzd sell, hit target much faster than I expected/anticipated. For that reason I will be replacing with a Gbpaud sell, its a late entry so I ll be happy if I can get 250pips on it, unless it decides to make a higher high before heading towards my profit target. This is my first chart analysis after my health challenge, just hope the head is clear enough to make sound trade judgments. I think so anyway

Tp in view, entry was late as earlier stated so I ll just bring to break even. Hopefully it ll fall 50pips before it trades back 200pips.

jorel1:
My friend, moving averages is simply statistics.
if you claim to bag a degree in statistics (is it third class or pass??)and don't know this then probably because of the obvious (someone didn't attend classes, although i don't know how it works in your Universities in Nigeria) ... something i use all the time in my doctoral work on random processes.
your question was how is moving averages related to statistics

Dude didn't ask you to explain moving means over specific time periods, just said he did't believe in them. and you go ''LOL, its statistics''

That will DISGUST any true STATISTICIAN.

And yes, I m proudly naija.

jorel1:
hmm, (mean, average) value of price within a time period (every high school graduate would know this), price will always revert to the mean. However literally also acting as dynamic support or resistance.

I once used an ARIMA model - box Jenkins methodology based on moving averages using the R programme to forecast crude oil prices within a time period, so if you need more mathematical description of statistics, let me know.

Sorry bro, I must have skipped high school before I bagged a degree in Ind maths/Applied statistics . From the little I know you are blabbing[i][/i].

But as I said, its the little I know. It also tells me you are best ignored (Even a fifth grader can tell that)

And there is still no relationship between what that fellow said and statistics, I m a practicing math/statistician and just got promoted on the job, so I guess I know a bit.

jorel1:
better you wait confirmation until price close below the 1Hr 100S/EMA , however a buy from here could be your bullish trade for the week

lol , just statistics

How is this statistics please . . .

Capitals:
Just nursing all of my old positions and gbpnzd sell, actually made my analysis and conclusions before the mild challenge.

Likely going to do nothing new for a while, if all existing trades go well then I ll hit my target. (I target 100% ROI every 4 months which my current trades can deliver)
let s see how it fares . . .

Closing gbpnzd sell, hit target much faster than I expected/anticipated. For that reason I will be replacing with a Gbpaud sell, its a late entry so I ll be happy if I can get 250pips on it, unless it decides to make a higher high before heading towards my profit target. This is my first chart analysis after my health challenge, just hope the head is clear enough to make sound trade judgments. I think so anyway

@Bellonaire, currentprice .... Thanks a bunch.
Mama Ejiro fresh fish banga and starch been de make sense that year sha . . .

mrikay:
Congrats on your promotion

Thanks bro,

jorel1:
it takes 4 months to make a 100% ROI??

Yeah for me, Most times 3 but 4 months max, with reasonable risk , .I m sure there are smarter guys that do 100% every month ,even every day, But I m not that smart bro. And I m no newbie either

Capitals:
Had to take a loss on GbpNzd. guess some days are like that. Better outcome next time

So I got promoted on my my day job , the next thing I m down with ailments for many days , hmm.
couldn't get myself to study my charts lately, so nothing new happening in my portfolio. Just nursing all of my old positions and gbpnzd sell, actually made my analysis and conclusions before the mild challenge.

Likely going to do nothing new for a while, if all existing trades go well then I ll hit my target. (I target 100% ROI every 4 months which my current trades can deliver)
let s see how it fares . . .

naijababe:
Mehn, I had one yeye meeting between 2pm and 3.30pm. Came back to find red devils everywhere. Chai!!! But no shakes sha. Thursday and Friday still dey

Had to take a loss on GbpNzd. guess some days are like that. Better outcome next time

naijababe:
GN Kai!!! Dia ris God o

Them been wan kill my joy but God win. . . . .
Not yet over though, but so far so good

Capitals:
Yeah, but I dnt see it going through 2.349x without a good fight from them sellers.

This is the fight I was referring to ma'am, May yet post a higher high but Its still in my zone so .. . .

naijababe:
May yet make 2.4xxxx

Yeah, but I dnt see it going through 2.349x without a good fight from them sellers.

Capitals:
Selling the gbp huh, I m looking to sell GbpNzd. My first trade for the week.

Watching closely may yet make a higher high which I will likely fade. For me a higher high increases the probability of it selling off

Shevychen2:
Good trade boss. In much earlier at 4975 and EN at 6559.

Just sold GA at 0930 as well. Still around there for anyone that wants to risk with me. Moved the others to BE so might not be a good idea to join me.

Selling the gbp huh, I m looking to sell GbpNzd. My first trade for the week.

Watching closely may yet make a higher high which I will likely fade. For me a higher high increases the probability of it selling off

sundayforex:
Isn't this someone's wife, a mother & role model on FTA. such comments should be restricted to the romance section pls. may God deliver our women/wives from off shore crush. no offence pls. shalom!

Hmm...................... I must have missed your point. Totally unnecessary IMO.

mrikay:
Bosses: Naijababe, Shevychen, Capitals (and other kindhearted folks) please give me your opinion on nzd/cad and eur/ jpy

I m closely watching nzdcad, could buy if we come lower, maybe a lower low. but neutral on eurjpy. I dnt think its well placed for a swing trade, day traders will be able to tell better.

Shevychen2:
Oh boy.. Manchester United everywhere

Make e be like say na forex nah..

Some days . . .

naijababe:
No, I know of the elephant and the 3 blind. If after trading you remain the same mentally and do not truly discover who you truly are then you may have suffered the greatest loss in this life.


I am self taught too by the way.

On point.. . .

Closing shop for the week, of the six trades I had going. I hit tp Gbpchf, 1 lost out chfjpy (painful cos it started going my anticipated direction after stoping me out) and four are still one.most likely wont take a new trade until any hit tp or I manually close Audnzd. My reason . . .

'who amongst you having 100 sheep and loses one, will not keep the 99 aside and go hunt for the one that was lost'. . . . (luke 15 vs 4)

The sheep are my trades, I lost one (chfjpy), I m not willing to buy anoda sheep to make it up, so I ll just wait or manually close one of my existing.
You probably think I m psychic right?

Nzdchf came back to test my entry but I m not panicked, its still in the zone and I could buy again if I have to.


Here s how I close the trading week, good luck to me next week. . . .

Shevychen2:
Seiden? yep but found his methods a bit uncomfortable.

No wonder there are similarities. His methods? I prefer the concepts he proposes, it helped coin out my strategy. His articles are screened by the academy before they are put out in public, that's in fairness to students that pay for classes, the day I heard him say this I stopped searching for his 'strategy' as I know it must have been screened out and started building on his concepts.

mrikay:
Masters Shevychen and Capitals... Beware! You have got a disciple. Me!

bro, we are all learning and one thing I have learnt is virtually everything bows to persistence

Shevychen2:
Well done boss.. You are right we are looking at the same zones.. I don't know the timeframe you are watching for your own zones or your trigger, risk, exit etc. but the 1 hr you displayed looks as if you were looking at my computer

Regarding your question, yes I take notes that's why I changed to exiting at 100 pips months ago. 60% of the time price reverses several times back into my zone after moving 100+ pips. On very rare occasions it will head all the way straight to the opposite zone at 200-300+ pips. (It happened just 3 times last month). I just take new trades with each movement back there and it adds up pretty nicely especially when you are doing it on 5 pairs.

I have displayed where I re-entered trades on EN since then. The red one gave just 20 pips. The other two moved to full TP. That's 320 pips if you add that first one. I will have to tie down capital if I was holding the trade to wait for 300 pips straight and probably use stop loss much larger than 100 pips.

I love the way you are trying to make me see reasons to start holding.. Maybe if I know the timeframe you watch for your zones I can demo it for a few months. Thanks.

I m also looking to demo trade the concept of day trading, but I run that for at least one year before anything, I dont feel the need to rush it in since I already got something good going (and will be doing it for most of the rest of my life anyway), you and ziqq (though he was risking too much per trade IMO) actually made me reconsider my stance on daytrading.

I run through all the time frames, but the combo of weekly and daily helps me decide if to take d trade. Like our EN case study the weekly was good and the daily wasnt bad but wasn't clear either, thats why I stayed back. The other TF I use to nurse and monitor the trades sort of as indicators.
You already hit the downside on the head: capital and sometimes risks get tied down for days/weeks.

you seen any of Sam's pieces?, just wondering. . .

Shevychen2:
Sold EN at 6574. 100 pips SL and TP.

Sorry to take you back bro, This is what I was trying to point out the other day. But do you keep stock of your trades after exiting to see what the average maximum potential of each trade could have been. Not like its my business anyway nor am I trying to tell how you run your portfolio, but your call above is yet to hit sl and has doubled its tp.

Honestly from the trades you have called I feel we run a very similar strategy, but you do that as a day trader and getting results, thats why I m interested