₦airaland Forum

Hi all,
buy AUDUAD @ market price (1.0160) SL 1.0045 TP 1.0360

Reasons for going long:

(1) Oversold extreme for the week was reached yesterday

(2) 1-2-3 low has been done on 1hr tf. A 4hr close above yesterday's high would establish an uptrend.

See chart attached.

Happy trading!

Meshach

DISCLAIMER:

FOREX trading is risky and could involve loss of all or part of your investment.

Trading oscillator divergence can sure be a beauty.
Here's a chart.

http://my.jetscreenshot.com/demo/20111109-lpqw-73kb

Happy trading!

Meshach

And an inter-mezzo, long for GBPUSD

See chart here

http://my.jetscreenshot.com/demo/20111109-vxxf-37kb

Happy trading!

Meshach

Oh! Great to have you here sir.

tonjoan:
Is this my Meshach? This is pastor.

Pastor Charles?
Good day sir.

GU playing it STRICTLY technical.

1-2-3 high (Joe Ross style) then re-test of the supply trend line. Taking out the point 2 simply ESTABLISHES a down trend. I guess London Bridge is falling down.

http://my.jetscreenshot.com/demo/20111109-qbfo-61kb

Happy trading all.

Meshach

NB: Don't forget that we had a rejection at the supply trend line yesterday on daily tf.

Hi all, can we guess which resistance would hold for EURUSD today?

1.3817 or 1.3840?

Find chart attached here

http://my.jetscreenshot.com/demo/20111109-leei-52kb

Happy trading!

Meshach.

Here is one example of the accuracy of LINE ANALYSIS. Check how price reacted, spot on at the hp2 confluence plus previously broken demand trend line!

There truly really is such a thing as market geometry!

@ concept,
you don't have to be confused. Can we chat on yahoo messenger?
Check my profile for my ID.

odiaero:
All dis una confusing calls, which one people go follow, "EU go short" " EU go long" "EU i sell in part time short term", i swear newbies don confuse tire

Na part of the learning curve be that. Let me re-count a little of my FX experience as a newbie:

I just started trading live after demo trading for about 6-10 months in 2008. I found myself in one of the chat rooms on marketiva. Ever so often, someone would just post a buy Bleep/yyy or sell zzz/ooo message and guess what a newbie like me would do? BUY/SELL of course!

Mehn! I was taking ALL trade calls I found in the chat room! I was thinking that everyone in the chat room were PROFESSIONAL traders! What a costly assumption that was! In less than one week my account crashed.

I then made up my mind to start trading ONLY my own calls. I could ask for the opinion of a couple of good traders but NEVER would I take a trade based solely on their own analysis.

lesson learned: TRADING IS A LONELY BUSINESS! Treat it as such!

Meshach

Bearish divergence plus trend line break.
I'm expecting price somewhere between 1.5936 and 1.5810
Let's see how it goes.
Meshach

Hi all,
I suggest that EUR traders should maintain a sell bias. We had a 25 basis point rate cut yesterday.
Truth is that, interest rate differential is one of the main things that moves this market.
Do have a pleasant day trading!
Meshach

Hi all,
it is a well known fact that the most common hardware challenge a laptop develops is usually with the battery. It is also very well known that power supply in Nigeria presently is nothing to write home about.

Having an extra battery can serve as a huge cost saver and if you are presently using a laptop whose battery lasts less than 30minutes, here's an opportunity to change it.

Order placement is simple. Just follow the steps below:

(1) Specify the brand and model of laptop on this thread or via email (meshach_ukpoma@yahoo.com). For instance, HP Compaq nc6220.

(2) Pre-pay 50% of the cost into my bank account. All batteries are sold at a flat rate of N8,000 except for orders above 20 units where discounts can be given.

(3) Wait for a 30-day lead period. From when your payment is confirmed until the product gets to you would take a maximum of 30 days. Most products would be delivered in a shorter time period but never more than 30days.

All products come with a 1 -year warranty.


Please note that orders coming from outside Lagos would attract extra charge for the haulage of goods.

Zeddicus:
Even mature traders use stop loss.

I kinda like the way he said it. Maybe he only cautioned the less experienced ones and not the mature for a single reason - THE MATURE ALREADY HAVE ENOUGH SCARS TO KNOW THAT THE USE OF STOP LOSS IS OF UTMOST IMPORTANCE! Guy, them nor dey tell blind man say rain dey fall. I strongly advice that trades be protected, not necessarily by using hard stops. Forex is a game with TWO outcomes-win or loss, break or bounce, range or trend, buy or sell. A contigency plan put in place in the event that the expected fails should NOT be outta place. In my opinion, that's the smart way out. Rob Booker has a book titled "STOP LOSS IS FOR SISSIES" I suggest that traders take out time to read it. Ralph Vince also has very good books on portfolio management formulas. I think it is high time Africans started reading. Its disheartening how uninformed most people are in this region of the world. The day I heard one lecturer say " . . . if you want to keep a secret, write it in a book and send it to Africa", I made up my mind to be different! People only pay for their ignorance. The Bible also re-iterates same in clear and concise terms " . . . my people are destroyed for lack of knowledge" (Hos4:6). Truth be told, your suffering in this market is unnecessary. He who walks with the wise soon becomes wise. Never feel bad to pay for quality information and education. Buy the truth and sell it not. Do have a nice trading day. Meshach.

Sincerely, one challenge with this forex business is that we have too many intelligent people and most intelligent people are arrogant. There is such a thing as www.xe.com/ucc (the Universal Currency Converter for this site) and yes we see price variation during weekends but the question is: "Even if you see price variation during weekends, can you place a trade?"-NO, you can't! This therefore makes the subject of contention here immaterial! Abi after game over for football person fit score goal again? Okay, did anybody block the goal post? Kai! Una dey try sha. Una wan still trade forex for weekend. Here's my tip for the coming week: after GBPUSD hits 1.593x, watch out for reversal candle formations that should take us to 1.55xx. Have a lovely weekend all.

meshpips:
Hope this helps bro.
We just hit the fib price objective on 5min tf, price should stall a bit to 1.013x region before the rally continues again.
Do have a lovely weekend.
Mesh

Price target fulfilled. Fresh longs added.
I had to scale in more trades, this trend should last quite some time.

Meshach

JAkpayen:
^^ Hi Meshpip, I think this pair is still bearish based on the risk-on for the market sentiments. I'll prefer to ride it to 0.96xx through to mid/end of next month.

Hope this helps bro.
We just hit the fib price objective on 5min tf, price should stall a bit to 1.013x region before the rally continues again.
Do have a lovely weekend.
Mesh

Hi all,
here's for all those that love to trade long term.
BUY USDCAD @ MARKET PRICE SL 1.0097 TP 1.0635
I already went long @ 1.0125 area.
Happy trading!
Meshach

Here's to the guy asking about Apari NZ:

I think they are very ok. Alpari is regulated by FSA.
Alpari NZ allows you to pay and make withdrawals in Naira and they have over 5 banks into which payment can be made.
Deposits reflect same day and withdrawals are processed normally within 48hours.

The link in my signature takes you to the registration page.
Registration is done in just a few minutes.

Have a pleasant day.

Meshach.

frenchman2:
silver still expected to retrace based on my chart pattern analysis.
if i'm wrong pls don't hesitate to say it.
entry 30.58
tp 33.51
PRICE IS KING. FOLLOW IT WHEREEVER IT GOES.

I suggest that you await 28.39 before going long because that is where I see demand or you can exit your long at 31.36.
Nice charts you have there.
Please be careful of the T&C wonder, it repaints.
Have a pleasant trading day.
Meshach

This chart tells a huge story about EURUSD
Draw knowledge from it if you can.
Happy trading!
Meshach

naijababe:
Taking a beating, got out of my EU trade with 10 pips loss. Crazy markets doing crazy things 

Eyah, pele. I suggest buying @ 1.3566 with TP 1.3737 SL 1.3536

Reason:
Hidden bullish divergence shown on my 6hr chart for this week

See attached screen shot.

Do have a pleasant day.

Meshach

Here's a link to someone with over 10 vouches on Forex factory, mentioning the same thing about silver (Post 859)

http://www.forexfactory.com/showthread.php?p=4943986#post4943986

Life is easy! Study to show yourself approved!

Meshach.

Hi people,
I've noticed that quite a number of traders get overwhelmed by the seeming high number of pips people make on Gold. I think it is note worthy to state expressly here that

10pips on Gold = 1 pip on GU (EU OR AU)
While

1pip on silver = 5 pips on GU (EU or AU)

With these measures of equivalence clearly stated, I'm certain that we can judge better.
Do have a pleasant trading week.
Meshach

honeric01:
Does anyone have anything to say about Uchf?

Hi bro, 0.8916 had untested supply. Price hit this level yesterday during the early hours of NY session and has been selling since then. It already shed over 60pips yesterday. The formation of a lower high would be an opportunity to add sells and would also help us draw a supply channel which price would most likely respect. Happy trading! Meshach

ncpat:
EUR/USD

I would assume that the GBPJPY on the screenshot is some kinda measure of correlation for your EU trades abi?

Hi bro,
you made it sound like you were a green horn that's why I made the post, sincerely intending that it would be of help to you.
Your blog says it all! You na "prof" lol.
I'll send you an SMS containing my IM handlers now.
Do have a glorious evening.
Meshach.

True riches certainly exist. God is He that gives wealth without sorrow.
Here's a confirmatory test for a man's source of wealth:

WHEN GOD GIVES WEALTH, HE ALSO GIVES HEALTH

This confirmatory test would work over 75% of the time.
Questionable is a wealthy man's wealth if he doesn't have good health.

edujoy:
I first heard about forex trading in 2005, but I started learning the forex market in 2006. In 2007 I lost $1000 in 3 minutes. I made my first profit withdrawal in 2009; that was the year I believed that forex trading is real.

I joined a forex broker that established an office in Nigeria (name withheld) in 2010; my experience with the firm will shock you. I resigned in March 2011.

My advise to traders, "PLEASE LOOK BEFORE YOU LEAP". Choose your broker wisely.

Some FOREX brokerage tricks -

I will share with you some of the tricks greedy brokers use-
1. Enlargement of spread during high impact economic news
2. Enlargement/removal of trailing stops during high economic release
3. Fake/non-transparent data feed
4. Internal trading / witch hunting

I have a very long list. The truth is that a lot of brokers out there are scam, make sure you do your background checks properly before you trust them with your hard earned CASH.

Wish you well in your trading.

Hi,
its obvious that you worked with a market maker. Next time, only deal with STPs (Straight Through Processors) or ECNs. If your trading method involves the use of volume analysis, I advice that you trade with an ECN because they would give you depth of market software that shows you ALL neighbouring pending orders and the summation of the total quantity to be bought/sold. Remember, price would only go where the big money is.

You can check the forex trade alerts thread for a text file I uploaded some months ago. It explains in a clear and concise manner the differences between STPs, ECNs, NDD brokers etc.

One last word, you can become truly successful in this business. Don't despair!
Have a pleasant day.
Meshach.

aguiyi:
fellow traders,
you will agree with me that doing a particular thing over and over again, will make you a pro in doing that thing.Take table tennis for instance.
the more you play it the better you become but when you play table tennis,football, basket ball and maybe volley ball altogether ,you will be[b] nothing more than a jack of all trade and a master of none.[/b]

concentration is key in this business, choose one pair and trade it well you will surely smile at the end of every week but when you jump from one pair to another, you will most definitely make more mistakes because your focus is shared

try this for just one week and share your results

happy piping

Hi bro,
true geniuses are "T" shaped - they know alot across a broad range of subject topics but have DEPTH in one.
About 2 years ago, I traded single currency pairs EXCLUSIVELY. I have a near perfect understanding of what you are talking about yet I dare say that, as you move ahead in this line of business, you would change your mind about trading just one pair.
I'm sure you would only drive say a BMW X5 and nothing else because you want to become a master of it? Understand this, the purpose for which you trade any market instrument is to MAKE PROFIT same way as the purpose of the car is mainly to help you[b] move from one place to another[/b]. If someone offered you his Bentley while your BMW is at the auto-mechanic's place you sure would not refuse abi? Except u wan trek or enter okada lol.

I don't just talk bro, I've been there and done that.
Find attached a trading statement from 2009 when I was still trading MICRO ACCOUNTS, in this statement, I traded GBPJPY exclusively. The statement speaks for itself.

Have a nice day.
Meshach.