₦airaland Forum

mt4

honeric01:
i also don't use sl, you just spoke about what i meant when i raised the issue of sl. anyways, what pf do you use?

What do you mean by pf? do you mean tf?

GU is generous. With patience and some level of baby-sitting, you can mostly win with it.

I trade whichever pair I spot an opportunity in though I stay away from pairs with high spreads. These days, I don't enter a trade if I don't see a potential of at least, 50pips, taking scalping out of my strategy. Babysitting trades steer me to mistakes and emotional trading, which I don't like.

If there is a reversal, it is important to look at higher TFs to know if it an impulsive or corrective trend. NO ONE can trade forex without losses. The elementary rule is 'cut your losses and let your profit run'.

I don't quite understand what you meant by SL being dangerous. If I get it to mean it is bad to use then, you need to learn another angle to it. Some times, it is not always good to use a fixed SL - SLs are best calculated. What I mean is that you don't always use the same SL all the time, 30pips say; ie, if you choose to use one. I don't use it always.

korogba:
Hi peeps.

Kashif, U seem to have a sound knowlegde of FOREX. How does sum1 start learnin this thing from the scratch. Please can u recommend any particular training centres here in Lagos, manuals, or websites one can use to get a grip of it.

Cheers.

I am not able to recommend any training centre because I am self-trained. When I got to the centre where I was supposed to be trained, I was told the trainer was no longer available. I could not trust the other guys who offered to train me so, I started out on my own.

Before you pay anybody for training, let him show you proof of profitable live trading. The truth is that most trainers are not traders. Also, don't accept to be trained during weekends.

You can check wwwdotbabypipsdotcom. You can get all you need to get you on demo trading.

honeric01:
money management is really something simple yet very hard to adhere to, right now i have a deficit of $755 from my account, my pos are in red but i believe in patience and i am trying to learn how to be more patience, don't ever double your pos when you are losing except when you are close to a retrace.

one more thing, do not trade forex with money you can't lose.

Don't double even when you think you have a reversal. Get used to this and you'll be good. Learn when to use a SL. Most times, prices get back from losses to profit but when they don't, they threaten accounts. If you don't us SL then know when reversal is an impossible in a couple of days or even weeks, and cut your losses.

On which pair are you picking the losses? If you are on EURGBP then be careful.

Posts are missing here. Moderators, what's the problem?

Welcome.

So you don't have any idea regarding the size of depletion on your account? Anyway, conservatively, it means he could have lost up to 60% of the account, more or less.

With your current state of mind, if you rush to learn forex now, you are SURE going to finish the remaining balance in just one or two weeks. Forex hates to be rushed so beware - that is the mistake most people make and turn back to say forex is the worst demon out there.

If he is sure it will take him 90 to 120 days to get back then you are better off allowing him run it instead of you trying to do it yourself.

Looking at it realistically, it would take you up to four months (if you are smart), to be able to learn how to make money from trading forex. First, you must learn how not to lose money before learning how to make it. But as it is now, all you are concerned with is to make money. That way brother, you'll lose whatever is left in your account.

Please thread carefully.

It depends on the % of account balance lost, and how good your trader is.

no I don't. I wount advise leaving ur acct mgr because of a temporal drawdown unless it has bcome regular.

Yeah I trade and in Lagos. Is there any issues?

The question was actually for babsam.

emyworld, if somebody is managing your account then I guess he should be good. Drawdown could happen to even George Soros. Strict money management should be employed.

emyworld:
is there hope of bouncing back for the trader?

Sure there is hope if the trader has the following:

1. Education

2. Discipline

3. Patience

He must not double up. He must not try to get back at the market.

Mabsam,

I guess you should lead the way with the ideas. You day-trade?

emyworld:
my broda, heard so much abt forex. what do you guys mean when you say a forex trader has drawdowns

It is when a trader experiences a streak of losses. It is not a good time for a trader.

VALIDATOR:
She can even do more than 365 times a year if she does more once daily.But the point is a new guy every 12 days in just one school is unrealistic.

I agree that people should stop random screwing but inventing false stories to support such will in the long run make people to reject the warning altogether.That's what's happening in religion these days.

Point blank. So incoherent a story!

I find it hard to believe this story. She supposedly met a guy that infected her in 3rd year. How come she discovered about the infection during registration (yr 1)?

If she actually got it in 3rd year, how many year course did she study? It takes some time for the symptoms to manifest so, was she saying she slept with three different men each week? Please!

From your tone, its either you've had bad experiences or you don't give a damn what your prospective clients think.

Its your call anyway.

Check Mobil Maryland. They have something similar.

With all these talk about millions of naira for deposit, what has happened to leverage?? I have seen a broker that offers as high as 0.5%!

What are we talking about

[quote author=ODESE_REP link=topic=275509.msg4292910#msg4292910 date=1249324535]Accredited organisations for PMP will include Tourqay Global Systems and ODESE Consulting(PRINCE2). These are the 2 I am sure of.[/quote]Sorry, who accredited these organisations please?

Just as a matter of information, project management personnel who have challenges with their projects, and would appreciate professional advise, send a mail to consulting@getmoreng.com.

Correspondence advise is free; I think this is cool.

@Bode, I hail O!

@poster,

I dont know how old you are, but if you are old enough to settle down, then you'll understand what your woman's needs are. I used to find it difficult understanding why women reason the way they do - they all need attention. If you have found what you need in a woman in her, please try as much as possible to make her understand. If she really loves you, she will understand.

Don't mind people who tell you "give her red card; there are many women out there". I am telling you this from experience.

Shalom.

Onye na-aba mba eti aka n'obi na-egosi ndi mmo ebe ndu ya di
He who brags and hits his chest shows the spirits where his life is

fayahsoul:
Some of the ilu u write sounds made up.

I completely disagree.

Sure, there should be a team representing those organisations in the project management team, no matter how small. In determining the project objectives, the PM team will need to make sure that the impact of this project on existing organisational structures are identified. This will help make this quantitative; protecting it from any possible misrepresentation.

If any participating organisation knows that its ROI is almost a guarantee, and proportional to financial commitment then, the risk of organisational pullout will be reduced. A mitigation could be making the deliverables so attractive that other organisations would be willing to step in and take up the funding obligation of any withdrawing participant, knowing that the success index is high.

Good to hear that the stakeholder and communications management are not being treated with kid gloves.

@Qrous,

You can send me a mail; my address is in my profile.

This type of project could pose a lot of challenge for the manager(s). It is indeed a complex project considering the size of the stakeholders

First thing to be done is to determine and document the aims, objectives and deliverables of the project. I would use a combination of Interviews and Delphi Technique to try capturing all the possible interests in the project. I dont know if funding obligation ratio is tied to individual organisation's percieved business benefit from the project.

Each participating organisation should constitute their own internal project management team that will be saddled with the responsibility of analysing their organisational needs and objectives as it relates to the project. This team will attend project mgt meetings and report to their managements. Truely, the central project management team have a daunting task on their hands because of the complexity of the communication needs of this project. They will have to worry about managing these representatives and trying to figure out if what these teams supply truely reflect the complete picture of their organisational project needs.

For example, if these fellows report that their organisation would be happy if nine deliverables are met, how would the central team know how reliable these data are? What if a key stakeholder was not identified? What if this stakeholder comes up with a change request that cannot be ignored but with monumental effect on other project variables? Remember that cost of change request implementation increases as project progresses.

The highest risk would come from stakeholder management. This is because the project is highly segmented and there could be high polarisation too. A good approach would be to break up the project into phases with a key milestone being Project Requirement Determination. Make mistakes with this and pay dearly for it. You might not be able to get it 100% at the initial stage but get as close to it as possible.

I will be back.

Looooong time! Has Ify been crowned yet?

Ejula si "Unu si na mu adighi ike, mana onweela onye si n'ihu jide m?"
Snail said "You people say I am not strong, but has anybody ever captured me from the front?"

Life seem to be unfair some times. See good, ready guys searching, complaining that they are not able to find a match. You see ladies complain of the same. Why cant their paths meet? What is happening??

You cant leave the job of finding your soulmate to God. "He who FINDS wife finds a good thing and obtains favour from the Lord" For men, find her! For ladies, make yourself available! Get connected and seek His approval. The problem is where??

The vacuum/void could be very crushing

@ Odese,

It is like you have read some other thread(s) before this one. PMP DOES NOT ignore project initiating. PMBOK has five processes - Initiating, Planning, Executing, Monitoring & Controlling and closing. We are not wrestling for superiority my Oga; just trying to correct an impression.

You didn't say anything again about the subject of discuss - the 25-storey building.

As per your question, if you work with documentation-resistant fellows, making them appreciate documentation will only be aided by a colossal lack-of-documentation-related project failure. Some will look at you and tell that you like work; some ask you "Is it everything that you write?"

To get management to review documentation properly, their communication needs MUST be determined. Some people are at home with figures while others are more comfortable analysing pictorials (charts). Know who needs to get what, why, how, frequency, and through whom.

But one of the important psychological aspects is that your project MUST command relevance, and not a second fiddle. If the project has a lot of business influence and peharps, holding one or more rollouts then, they'll go through your project documents, and approvals would not be of much issue. As projects progress, cost of implementing requested changes become higher, even though the number of these requests diminish.

In risk identification , poor project management is one of the cardinal risks. This is because you as the project manager could be lacking in the knowledge base. Lack of PM skills leads to the other issues there raised. In PM team conflict management, properly stated roles and responsibilities trim down the number of conflicts.

Cheers.

[quote author=ODESE_REP link=topic=275509.msg3911212#msg3911212 date=1243074538]I will kick this forum off with one of my own challenges.

There was a construction project in Abuja to build a 25 story building. I was visiting at the time when one of the contractors involved advised me that the Sponsor of the project etc,

After probing my friend I discovered that the architectural software that was used for designing the floors was a new one introduced architects and they were just using it for the first time etc,

My Opinion:

A formal change request should have been raised by the manager that decided to change the architectural software and an impact analysis should have been performed before approval.

My advise for anyone managing a construction project are as follows.



1) For a start there should have been a governance/project board to monitor the progress of the project on a regular basis etc,[/quote]First of all, let me appreciate your effort in discussing project management here. However, it will be much fun if objectivity rules here.

On the issue raised, it is worthy of note that one of the things to be done during project initiating is risk identification. PMI advocates that anytime a state-of-the-art or one-of-its-kind or entirely new technology is used, project risk is expected to be high. Risk categorisation would have been a high level tool to use in identifying many of these risks.

Ok, what was peculiar with the seventh floor that made it different than the rest? At what point was this flaw discovered? ie, how many floors are now on the seventh? If something was wrong with just the seventh floor then permit me to absolve the design software of any blame. One of these might have happened - poor structural design, poor quality assurance/control or sheer oversight.

At the point of project design (in this typical example), a change request (category 1) might not be necessary because it would be assumed that all deliverables were being taken care of, and the design software was suitable. Most change requests come during execution and/or monitoring and control. From project life cycle however, if the design is part of the cycle then, a change request would be applicable.

To get things straight, it would be fool hardy to continue using a software if quantitative risk analysis tells you that its product would be unreliable. (This is assuming that the "Design" phase is part of the project). The best risk response would be to avoidance - have nothing to do with the software. There are many missing details that would enable one do an informed judgment.

It is unfortunate if you say PMI ignores project planning. Meanwhile, the Simultrain you talk about is PMBOK-based.

I will contribute more with time. More project management issues please,