₦airaland Forum

chimajii: RESULTS OF ALL PICKS POSTED TODAY
scheepers.....1.70...WON
svitolina........1.70...WON
soeda/uch.....1.70..WON
DOLOG.............1.70..WON
rosol................1.57..WON
maurer...........1.30+WON
Barthel...........1.29..WON
a.kud...............1.30..WON
chiudenilli.....1.25..WON
COMBO:
kud x chiudenilli= 1.63 WON
GREEN
COMBO:1/1
RED: 1
N/P: 1> cabal/barrientos
[b]TODAY Marks the 14th DAY Of Straight Combo Winnings. I.e We're Yet to Lose a Combo since this FORUM RETURNED From it's data Loss[/b].

truexgold.com:
CREDITED.

kasonud: credit 8058-pob-okoye urgent please

cashvault: I think it is only instaforex that have blackberry version of mt 4 for now. I doubbt if other brokers have added it into their trading tools.

naijababe: EA, nucca finally moving. Oil traders, please note that the Sept contract expires on the 19th which is Monday. I am looking to sell now.

2s£xy:
At babypips...

Studying Fibonacci. I used to wonder what those horizontal lines on Naijababe's chart represent... now I know.

Back to studies... God bless all NFT...

honeric01: Through his Webinar.

honeric01: The monthly US Non-Farm Payroll announcement are released later today – at 8:30am EST (Friday) so be careful with any open trades around that time.

Overall there is strength in the USD with some strength in the EUR, GBP, AUD and CAD.

Overall there is weakness in the JPY, CHF and NZD.


Trading Directions I am favouring for the next 24 hours


Buy Trades - EUR/JPY, EUR/CHF, CAD/JPY, GBP/JPY, GBP/CHF, USD/JPY, USD/CHF
Sell Trades - NZD/USD


VERY IMPORTANT: These are not specific trades. Do not blindly place trades in the directions given below. Use your own trading strategy and look at taking setups that occur in the same direction as my daily analysis.

honeric01: There is a public holiday in Switzerland today so be careful when trading the CHF pairs.

Overall there is strength in the EUR, CHF, JPY and CAD.

Overall there is weakness in the AUD and GBP with minor weakness in the USD.


Trading Directions I am favouring for the next 24 hours


Buy Trades - EUR/GBP, EUR/AUD

Sell Trades - GBP/CAD, GBP/CHF, AUD/JPY, AUD/NZD, AUD/CAD, AUD/CHF, USD/CHF


VERY IMPORTANT: These are not specific trades. Do not blindly place trades in the directions given below. Use your own trading strategy and look at taking setups that occur in the same direction as my daily analysis. If you don't have your own trading strategy then email me here.


Andrew.

(I as a person sticking to the bolded pairs)

kasonud: so far so good for i and jp pairs and i am selling this week, daily and weekly traders can join me,@babe pls where is the link for the vote..happy trading traders

kasonud: this is my major challenges in this business,(fundamental analysis)news,news,news...can any one here educate me with small small grammar abeg? mean why i am singing with Ej now,

natruetalk: 1000like

if forex always follow technical aspect of this business you don't suppose to have a single loss in this business your are too good on this aspect boss.

surveycash2: Lesson 14 - Understanding forexfactory terms

In lesson 13 (page 10), we introduced fundamental analysis as one of the techniques of predicting the forex market and went ahead to give example of some sites where we could get fundamental announcements. Some these sites are bloomberg, Reuters, CNN, fxstreet, forex peace army, forex factory etc.

Among the sites, forex factory (ff) is one of the widely used. For this reason, we are going to study it as tool for our fundamental analysis.

FF uses some terms which are pertinent to understanding how the site works. Some of these terms are;

1. Forecas[/b]t - This is a consensus figure given by a group of traders btw 20 -240 about a particular news to be released. News organisation like Reuters and Bloomberg conduct a survey to find out what traders think. They take the average of the result and call it '[b]the forecast'

2. Actua[/b]l - The 'actual' is the actual figure that is released at the time scheduled for the particular news event.

[b]3. Deviation - The difference btw the actual and the forecast is called the deviation. Every news has a minimum deviation o attain in order to trigger a trade.

4. Detail - The 'detail' gives full info about any news event. It tells you about the source of the news, the frequency, the effect on the economy and why traders care about it.

4. Impact - This measures the degree of the news effect on the particular currency. The impact could be high (red), medium (orange), low (yellow) or no impact (white). We are only interested in the high impact news.

EXAMPLE

We are going to look at[b]AUD Unemployment Rate[/b] to be released on Thursday 11, July 2013 by 2:30am. You dont need to know about the news prior to the moment you want to trade. Just click on the folder DETAIL to study it 30mins to the release time.

Once you click on DETAIL, you should be interested in what the news MEASURES[/b]and the [b]USUAL EFFECT.

Here is the general formula

Actual > Forecast = Good for currency, so BUY

Actual < Forecast = Bad for currency, so SELL

The reverse is the case for news that have NEGATIVE effect on the economy e.g UNemployment rate.

https://dc493.4shared.com/img/UFP6Z2G1/s3/ff14.png
fig 14.1 - AUD Unemployment Rate



https://dc688.4shared.com/img/qFwFUbAK/s3/ff142.png
fig 14.2 - Click DETAIL so see more info



https://dc688.4shared.com/img/DmE91Eb2/s3/ff143.png
fig 14.3 - Take a look at what it MEASURES & USUAL EFFECT




I will stop here for now so you can take this home. Oya write..


Assignment;

1. What currency pair will you trade for this NEWS and why?

2. what you will do if;

a. Actual > Forecast

b. Actual < Forecast
c. Actual = Forecast

Submit 1st thing tomorrow morning.

alionyinye: Pls whr is ej @ nw

naijababe: Crudes inventory is released every Wed at 3.30pm or 2.30pm when the clocks turn back. You can check fxstreet or forexfactory.

naijababe: My monthly resistance is at 106.43, which coincidentally is also the 88.6% level of the last downswing. I am looking to add to my position at 105.00 but only after the inventory release. The only trendline I have on the monthly tf has already been broken