₦airaland Forum

Ogboraph!!! That is over 1 mill gone in a week. Rlly sorry abt that loss,but like current price said ds shldnt b happening 2 an oldie in this game.


This game is more abt capital preservation than spectacular gains,that way trading won't be a gung-yo affair.4000 dolls loss in a 30k acct aint that bad But in a 4k plus acct aint acceptable .

I really hope u won't have 2 sell ur property 2 pay manu-19,u wld definitely bounce back and sure it wld be wt a bttr temperament in this long-term game.

All d best bro in this ever evolvng game.

The first high profile casualty of the republican primary;no thanks to the surge of trump's candidacy. Coupled with his dismal performance in the last national polls,walker just had to take a WALK.


Though he claimed in his withdrawal speech,that he was doing this to de-congest the republican field and create a momentum behind an alternative to the run-away leader in the field: Donald trump. who he claimed doesn't stand for the republican ideal.


One down,who's next.....anyone .

The singular story : A country blessed with vast amount of natural and human resources,but finds it so difficult to translate to it to broad based prosperity of its citizens- poverty rate in Nigeria is 33.1% of the population,60% lives below 2 dollars per day .
Till a very recent past,it found it so hard to secure its borders and protect her citizens leading to Nigeria having the largest population of displaced persons in Africa- 1,538,982 internally displaced people according to IDMC as at april and wanton loss of lives.
The singular story according to a consensus of cross-section of ,Nigerians I related with,can be attributed to: one, corruption,two,saddled with leaders that were not prepared to lead ''accidental leaders'' and lastly erosion of values across all demographics,institutions(public and private),artisans and professionals.
The cankerworm - corruption,has eaten so deep into the fabrics of the nation,and slowly but steadily seen to the declineofhealth,education,defense,mineral,power,manufacturing sectors and the biggest masquerade - our oil sector where oil money is everybody's money.
The second culprit: bad leadership exemplified by presidents that were very reluctant about leading this complex entity, nigeria, as revealed recently by a former Governor close to that former 'alpha' president.
Our history is peppered with unprepared leaders that go through the motion of seeking for our votes and of Gun-wielding Generals with zero-management skills except for some glaring exemptions.
The third culprit is: generality of we Nigerians,we take a cue from those leading us and feel it is within our right to be hopelessly corrupt in our own space,from the civil servants to fuel attendants,doctors down to the ward attendants.The difference between the leaders and followers level of corruption is the resources available to both sets.
This is the old story.

The new story so far has seen a renewed vigor of the various anti-corruption bodies-it's just a shame that they do more of arresting and public show than investigation and meticulous gathering of evidence which should lead to successful persecution.
Refineries are now working above 60% capacity .Beyond the rhetoric,we are experiencing a sincere effort to modify the organization of the corporation whose fortune is tied to the prosperity of our nation.
The terrorists have reverted to attacking soft targets .wide-spread arrests are being made .There is a renewed vitality of our defense strategy,lean and fit generals are delivering press conferences at the hot-bed(yobe , borno) .
Civil servants are now selling their ill-gotten properties,former ministers are making statements from 'obodo oyinbo' ,we are now scared to spend monies at parties .we are generally sitting up .all these without a team-on-ground and with no clear-cut policy direction of this Government apart from threats of probes
.God punish corruption.
This has been the new story so far,should the citizens expect more. Yes!! We should and deserve more .
It is september ,the "crack-management" team that took over 90 days to assemble would be revealed.We are waiting with bated breath to discover the composition of the team that would plot the story of the wind of change in my country.
Spotlight would be on some ministers.
First in the line of fire would be the minister of finance-this is the worst time to be this minister.The first test in detecting his/her fiscal direction would be how to tilt the current budget from 10% of capital expenditure-in light of reduced income-to something close to at least 50%.If this government wants to fulfill at least part of its promises.
How do we diversify our monolith economy-oil provides about 75% of our income. The present lull in price is totally different from what we experienced in 2008,this seems more long-term-U.S is now producing about 9.2 millions of crude oil per day ,and currently exporting about half a million barrels of oil per day,the most from record dating back to 1920. Russia is just pumping oil like no man's business.Iran would soon start exporting,a lull in the growth rate of china and suddenly it is the buyer's market.
Any budget with the price of crude pegged at greater than 45 dollars/barrel is tantamount to leaving our fate to hope.The minister would need to be creative in increasing income by possibly working with mr Fowler in vamping up revenues generated from FIRS-the current 4.7 trillion naira(about 20 billion dollars) is not good enough when south africa revenue service raked in about 75 billion dollars. We are the largest economy in Africa.

How do we liberate our mineral sector,what do we do about this law that does not allow states to be creative in extracting and generating income from mineral resources in its domain. what would we do with our 42 billion tonnes of bitumen deposit ,3 billion tonnes of iron ore. How do we move from our extractive growth to productive
growth.
Is the current debt ratio of 10% to GDP okay or should we incur more debts to drive capital expenditure that would stimulate the economy.
What about the present monetary policy of high monetary policy rate that discourages lending to the real sector of the economy,making our banks to make easy money by raking in 13-15 % returns on investment with no sweat all in the name of controlling inflation. can something creative be worked out about the excess supply of naira created by the central bank by substituting dollar income with naira .
We can't keep doing the same thing and expect a different result.I really pity the minister of finance,the good thing though is the culture of transparency(starting from the treasury single account) that would make it easier to plan and make decisions.
The minister of agriculture has a big shoe to fill,how do you improve on the gains made by the agricultural transformation agenda-reduction of food import bills,CBN's agricultural credit guarantee scheme,over 10billion dollars commitment from foreign agencies,agriculture constitutes about 25% of our GDP and many more
The minister of power would have to find a way of overhauling out transmission grid that can't evacuate more than 5,000mw of power and we presently have a generating capacity of 5500mw.how do we get consumers(government agencies are the worst culprits,industries,individuals)to pay for electricity consumed, so discos can pay the bulk energy company,so they would pay Gencos so they can pay the gas companies,so that we can attract the much needed capital needed in the power sector bearing in mind that to generate a thousand megawatts require roughly about one billion dollars.
The minister of education,don't even know where to start from. The minister of health-how do we stop the health tourism,stop the senseless bickering amongst health care workers,this strange culture of strike today,strike tommorow.
I pray the team that would be unveiled this september would surpass expectation...Amen.
We are waiting and we are watching.
God bless Nigeria

Are u actually calling nigeria a zoo.waohh!!meaning u are an animal,cos only animals stay in a zoo and until biafra becomes a recognized sovereign entity,you would need the nigerian passport.

irredentists could be very toxic,making u say what you are not meant to say.

True that,cos he owns all things..eyes should be on the naira though,cos that's what we get 2 spend down here .

U can say that again ...

If the sanctions on iran are lifted,we should expect a further glut in the oil market when iran starts exporting its oil.

This can mean only one thing for nigeria,further reduction in our revenue as brent crude oil's price is expected to head southwards.

More headwinds ahead .

Capitals:
My 2 cents today (not like its worth anything)
I think its best you try to figure out this thing without indicators. Some use support and resistance, others supply and demand and so on. I m more comfortable with supply and demand co I got my proofs from the bible ( hope I wont get called names now ) Dntwant to type much so I ll try to summarise....
There was an instance in the bible were there was famine, and the prophet said by this time tomorow a morsel of wheat will be sold for so cheap, an expert said even if God opens up the windows of heaven its not possible, and it happened as the prophet had said, why?
Some lepers approached the camp of their enemies and the enemies fled leaving behind surplus of goods. The people went in to get the spoils and all of a sudden there was surplus supply, everyone had food and didn't need to buy anymore. and wherevr the is surplus supply and no buyers prices naturally tank. Thats how the prophesy was fulfilled. Hope it makes sense to at least one person.
I m out but open to critism

thanks for your observation.am a purely price action guy anyway,that up there is a guy with an open mind who is always ready to learn new things which is in keeping with the dynamic nature of this market,especially from guys like rozay,seyejohn that trade gold majorly.

We shouldn't be 2 close-minded and to currentprice this aint no newbie-if only u know d story.

Really appreciate the 2cents dudes,God's blessings to all.

rozayx5:
1183 was the area it broke to change the trend
over time i will be posting updates on trend changes on gold as i stopped intraday long ago to focus on swing and position trading on 4h charts
on the long term gold remains bearish. no regrets for sticking to gold for the past one year plus
a close above the sky blue ma will signal temporary buy as the daily chart still stands on its bearish ground

Abeg which ma be the sky blue,cos I get the yellow one for my chart,won't mind adding the sky blue one o.thank you in advance oga rozay.

rozayx5:
1183 was the area it broke to change the trend
over time i will be posting updates on trend changes on gold as i stopped intraday long ago to focus on swing and position trading on 4h charts
on the long term gold remains bearish. no regrets for sticking to gold for the past one year plus
a close above the sky blue ma will signal temporary buy as the daily chart still stands on its bearish ground

You are very right,guess our trade styles are similar,ve a pending buy stop order round that area.I trade 4hrs 2,cos my job won't even allow for a lower time frame,God's blessings to all.

jendy36:
Exactly @6:35 pm, this day being July 7th, 2015, my sister delivered a healthy baby boy. My little twin kids are now elder brother to someone! Thank Jehovah with me! This one pass 1million pips!!!

#Familyovermoney,congrats on the delivery of ur nephew.

Rlly hope gold has choosen a proprietary direction finally.

In a short trade ,entered
@ 1160

Waooh!!what a read.really enjoyed the cerebral display on this thread.

Moral:forex is not for simpletons.

PImpimp pls don't go away,really need a soldier on this thread.

Sure infinityandzero aint no tom, dude is a lawyer or something close.

Moral:don't trade for a living,trade to build equity;all this veterans have day jobs

bigups 2 naijababe always,she started this by re-awakening the air-ranger.

On the dija trade,ayo

ayox2003:
It shouldnt but markets go round - around the world. Good news in Europe is good news to corporations that have facilities in both continents and vice-versa.
You're lucky on the sell, but I'd keep my hunters lamp on at this time.
Frawzey

.

On the dija trade,ayox2003 is right,u.s would prefer greece staying in the euro,reason only IMF is canvassing for debt renegotiation among the troika.a stable euro shld enable the feds 2 raise rates a little in the 4th quarter.

Bullish on gold

S.l. 1167

Buy limit on Gold

Buy @ 1166
S.l @ 1162

Trade visible on myfxbook

@ sympathy 55,show me a third party verified account of two years or if u don't know what that is,find out.then I know you are one of the dude with the holy grail .

The easiest way to make money in this game is to be

The broker

The liquidity provider

The trading platform(metatrader)

The (gurus) selling holygrails

The signal providers


Retail trading no be beans ,if u know where dudes like shevychen2 are coming from you would understand what he is trying to achieve on this thread.trading is quite difficult.if anybody can guarantee a return of 5 % monthly with a maximal drawdown of less than 20 % in any given month,in 2 yrs,dt dude has d holygrail.

@ shevychen 2,abeg teach me aw una dey quote previous post.thnks for your previous observation,but was stuck @ that trade anyway cos I had nothing to loose.


Exited the trade @ 1202

Still in the trade now with half a lot

@ 1202

S.l 1196


Y:cos it apears gold still has some momentum behind it and if it can overcome the 1204 headwind, it could still travel further but who knows .

After 2 straight losses shorting gold ,hope this is for real


Presently in a long trade (broken even)
Long @ 1192.


We are in this game 2 make profit ,not break even

@ henchab,sure you are being sarcastic.


@ jorussia,I feel ur sentiments.It just shows that you have dynasty everywhere,even though this is unprecedented anywhere in the world-if he suceeds,having three presidents from the same family.

However what makes their case different is that the candidate finally emerges by merit.it is actually difficult for a single person to choose for a party,although being from a dynasty comes definitely with its perks.

A dazzling speech by the man aiming to be the third republican(bush) president in under 25 yrs.
Really forceful speech by a man trying to prove he is actually eager for this job and not just a dynasty prop.He took on d secretary clinton,president Obama and even marco rubio.
The republican primary is definitely going to throw up a lot of fireworks.anticipating an exciting primary filled with lots of intrigues and dazzling speeches.

Last long trade hit s.l


Short @

1184

S.l

1188

My Gold short trade made a profit of 90 pips.(With half a lot)
Currently long @
1181
S.L. 1175
(Half a lot)
Happy weekend folks

Frenchman 2 and naija babe are propably the most sincere traders in this space
Don't be deceived by all this peeps making 20-30% roi wEekly .serious institutional traders won't touch them with a long pole.there can't be long-term trading success trading this way,
Anyone that wants to put a lie 2 my assertion should just open one account with a third party such as myfxbook/trade explorer and show us a minimumof 18mnth- performance. Tired of this traders that don't loose and thy're not riding a maserati or a bugatti.

If not for the stop loss;thought s.l was part of a trading strategy. Sold gold @ 1185.50 T.p:1175.50 S.l: 1185.50
With half-lot

100 pips trapped
Riding with half-lot

Bought gold @ 1179 Broken even
Had a short trade that was stopped @ 40ips

Been busy on the political threads.been reading comments and it is like some traders are getting carried away by some purple patch .
Forex is not easy,forex always messes up the scalper in d long run(years trading with the best of them @ zulutrade thought me that),forex is no respecter of anybody..a small trader or institutional traders.the market is always a roller-coaster.
successful traders try to trade with no emotions,monk-like discipline,entry and exit plan and ultimately sound money management and thy trade the same account for donkey years.
Newbies don't be deceived,this is a journey of sweat,tears,blood in ultimately being a profitable trader.
Cheers to the veterans(fairest of them all:naijababe) and the newbies.

Guess I jumped d gun on this one.seeing the caption :saraki returned unopposed,I assumed our party changed its mind.apparently I was wrong and saraki thought our party leaders some political lessons-imagine them holding a meeting today of all days .
Our party would overcome this slight bump,lesson learnt in this nascent game of federal politics.

In d usual cloak and dagger nature of politicking,senator bukola saraki was returned unopposed this morning to rule the eight senate .
This came as a shock to observers in light of all d rumours flying around earlier:apc blockd the national assembly complex,apc has postponed the inauguration of the senators,apc has done this,apc has done that .
My party in the end saw the light and had to swallow their pride and I presumed had to order lawan to step down.This was done to whittle down the influence Pdp would have had in this assembly, because for pdp to come out and support saraki ,there must have been a lot of horsetrading as it is in the nature of politicians to do.
By this act,the party(apc) won,political sagacity won,the senators won,knowing fully well they determined their leader without an external factor.
This portends well for our mantra of change,that the party is ready to bend to the popular will of stakeholders even to the detriment of the party's interest .

Cc:lalastica

Abi oo captain june.then months down the line we would start reading stories that touch.this is my final contribution to this thread .
More opprobrium is welcome from the op.

@ karlie4nia or karlie419,one of d ignoramus is looking forward to viewing the performance of this your indicator via the return on your equity-of ur life forex account..if you have one) at the end of the year.
Just hook your account to forexfactory/trade explorer and you would show us up for what we are:close-minded,pompous ITK.
Goodluck 2 you and your followers.

Actually exited the gold trade at 85pips(one of those times)
Gud nyt peeps