₦airaland Forum

brainbucks:
No courage involved. Truth gotta be told.

It's good to appreciate the advise you've received from some folks here so far. Yet I personally feel that they're still sugar-coating bitter truth in a bid to encourage you. NOBODY WILL ENCOURAGE YOU AS MUCH AS YOUR OWN PERSONAL CONVICTION, SUFFERING, LOSSES, SWEAT, SLEEPLESS NIGHTS AND TEARS, AMONGST OTHERS.

Now, unless your resort to divinity will grant you supernatural discernment to shortcut the years upon years required to even scratch a tip of the forex iceberg, dude, please be ready to endure at least 3 - 5 years of heartbreak (and when I say heartbreak I mean when you can literally see your heartbeat pumping outta your chest as your losses inevitably accumulate). You will see your hard-earned dollar running losses while you hold on and stare and hope it will turn to profit after some time. You will feel a hard lump in your throat and you will swallow that lump time and again. You will lose appetite. Your mood will be controlled (like your DSTV remote control) by when you're losing or gaining.

After years of suffering comes the experience that no amount of money can buy (or, well, maybe all the losses you make are the cost of the invaluable experience you would have earned). Remember, through every dark night, there's a brighter day after that. But until you earn, "EARN", that experience by yourself, all the advise you seek here, all the guru blood relatives you have, all the dreams of profits you nurture, all the enthusiasm you might have, all of that, all na theory my guy.

If you go through all the hell and you don't waiver, ignoring those that WILL mock you and call you foolish, keeping steadfast in your faith and mastering forex by every painful experience you stack, I promise you, you will collect all your losses over the years in a few months after. You will smile, and you will know that in every tear you shed, there was a lesson leading you to the sweet oh sweet days when you will be withdrawing profits and buying all those good stuff you only used to see on the internet.

"A river cuts through rock, not because of its power, but because of its persistence."

currentprice:
i love technical ,,,,once you know how to play with the chart,,, all you need to add on is "REMAIN CALM" news will come and fade out with time,,,,,,, candle price action will prevail at the end

Eur.usd call

currentprice:
1 more minute to go,,,,let see if the candle price will fail this time

jorel1:
Based on the weekly chart ,the the sell wagon already took off from #1.1447 just waiting for a right entry to sell, result from todays NFP will determine if it the EURSD price goes up to find a good sell entry for me...if result says otherwise to sell then i sell from current price after todays release.
If you are already in a buy (EURUSD) then stay with it ,the outcome of the News will determine if you profit from the buy or profit from a sell.

jorel1:
well, technically buying the #USD means selling the EURUSD ..which i meant long term.
about today, anything >200k is still bearish for EURUSD

jorel1:
#EURUSD , if the feds intends to increase rate soon, its only logical to join the band wagon with the buy and hold the USD, the New high created on the EURUSD could be a significant high for the next few months or years as usual just my guess.

Shevychen2:
Going through forexfactory and found two striking explorers...

http://www.forexfactory.com/dforexangel - This one is some badass EA. Imagine making 3,000 pips in less than 6 days with 98% accuracy!


http://www.forexfactory.com/bidemi12 - This one is a sad one.. It is owned by an old timer here that came back recently to tear up the house a bit before disappearing.

Go through them and think. What you learn from them is up to you .

Bollinger:
Good question. One constant recurring criteria in binary trading is that you make money only if price meets a certain point in X amount of time. Also, the way the brokers volume/lots for trades are structured, it is impossible to utilize compounding. In forex, you choose your volume/lots per trade which is perfect for compounding. That alone should tell you that forex is way better than binary options. You see, making money in the markets is about your knowledge in the application of probability, math, and odds. If i give you a strategy that has a 5 percent win ratio and part of the rules is that you must religiously place your stop loss at 10 pips but your wins would generate 250 pips, you are well on your way to being a millionaire. But here's the thing; you will still manage to screw it up. Why? with the scenario i just gave, what will be your downfall is time and frustration. A 5 percent win ratio means you would have to take 95 trades and each time would be a loss and you would only win five times. you would never know when those five win trades would come up. It could be days, or weeks. Eventually you would change parameters because of frustration. This simple concept is what most traders don't seem to understand or want to understand. As traders we have an EGO problem. Almost everyone (including me) has a nostradamus complex. We all want to be the first person to crack forex. Which is why people flock to Binary option. Binary option is basically telling the trader to predict where price is going and that my friend is impossible. The overall movement of price is not news based, it's trader/people driven. Can you honestly tell me you know what your fellow man is thinking? if you can know that, then yes you can determine the direction of price. But that will never happen. Anyone who tells you they know what price would do the next minute has ulterior motives. Which is also why binary option should be avoided.

currentprice:
trade of the day

SELL GBP.USD NOW @ 1.5515 SL 45 PIPS

TP 70 PIPS


you are THE CEO OF YOUR TRADING ACCT. MANAGE IT WELL

mechbeejay:
ironfx is having issues truely, , i have switched to instafx, bt i stil hav d ironfx platform...... i see gold's bullish trend getting shortlivd, anyone wit me??

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.

Bollinger:
Guy. My best advise for you is to forget about understanding charts and price movements for now. Learn all you can about money management, position sizing, compounding etc before you do anything else. In short learn all you can about how to control your capital and your account. This is more important that learning to read charts. A lot of us learnt trading asss backwards by focusing on charts and got hurt badly because of it. Price movement is the least important aspect of trading because you can never fully understand it and therefore cannot control it. But, what you can control is your capital and your account.

P.s you can start with as low as 200 dollars. If you can manage that then you can manage a million dollars. Youtube is your friend.

currentprice:
trade of the day

Eur pair is where money is today "EU",,,"EN",,, "EA",,,"EJ",,,

SELL EUR.USD NOW @ 1.0973 SL 100 PIPS

SELL EUR.NZD NOW @ 1.6645 SL 100 PIPS

eur.usd TP 100 PIPS

eur.nzd TP open

you are the ceo of your trading acct. manage it well .

currentprice:


Afternoon trade

SELL USD.CAD NOW @ 1.3002 SL 50PIPS

TP 50 pips

you are the ceo of your trading acct. manage it well

mrikay:
Enjoy your loot

currentprice:
trade of the day

though pound news on the way

SELL GBP.AUD NOW @ 2.1176 SL 100 PIPS BUT BORROW USAIN BOLT LEG when you see 9.30 gbp news not favour the trade

TP OPEN ,,,,

you are the ceo of your trading acct. manage it well .

currentprice:
my people ,,,, my people how market

if you are the panic trader put the trade on breakeven

iheanyiebeneze:
sell eu now @ 1.0866 first tp=50pips, second tp=80pips