₦airaland Forum

Capitals:
Yep, we could still go down and I may join the sellers if I get a signal before the 58.81 highs.
Other than that, I will just chill on the sidelines and observe.

Price closed greater than 3 standard deviations above VAP about 2 hours ago. All that's required is for us to see a BEARISH H1 candle. Once and if this condition is met, price will sell back to the VAP (currently at 57.20) and possibly deeper until 55.82 level.

meshpips:
Guys, this trader knows what he is doing. I recommend that less experienced traders can follow his lead. Excellent stuff he has written here about crude.

I like the part about the September 5 high 'cos that's where the last line of defense is for sellers. Please note that it is possible to see a NEW HIGH (this is the usual practise) but the buying would not be sustained and we would very likely see a BEARISH ENGULFING candle that follows. Once this is done, the intent of sellers has been made public.

I strongly recommend a sell from the Supreme M5 untested resistance formed on September 5 (57.63). The trade can be held until possibly 53.30 support level from where we might see renewed buying interest.

Sell limit at 57.63 (make room for spread plus one pip).

Target 53.30 (add spread plus one pip)

Stop loss: I recommend using the one day average range. It could be tighter though.

All the best!

@capitals, note the italicized part.

Sunnycliff:
I have chosen to trade only on commodities, Gold, Natural gas and Crude Oil this new week.

I pray to break even from the gap losses I encountered this morning from Natural gas and Crude.

So help me God

Please be careful with natural gas.

Many traders have suffered almost irreparable damage by attempting to switch asset class. Ensure you have done your due diligence on these new instruments you wanna start trading before switching completely.

All the best!

Capitals:
Crude oil is were I am expected to free up margin for any new trades. Being holding unto sells from Entry -57.10 to SL- 57.38 and price is revisiting my entry {Already took some profits and playing with the houses money at this point}

I am going to let these trades run till SL is hit and interested in selling 57.33 to 57.69 and already have my pending orders in, including 1st TP. If this fails I will be looking out for sell opportunities after we take out the current 5th Sept highs all the way to 58.81 {were I can risk 25-30pts for some profits}, that's the tough part because its obviously futuristic and probability based... If that makes any sense.


I m not obligated to trade crude if the above level fails, that's is were the new opportunities in other pairs come in and if I have margins locked in any other new pairs then I may not trade crude even if an opportunity presents itself.

Guys, this trader knows what he is doing. I recommend that less experienced traders can follow his lead. Excellent stuff he has written here about crude.

I like the part about the September 5 high 'cos that's where the last line of defense is for sellers. Please note that it is possible to see a NEW HIGH (this is the usual practise) but the buying would not be sustained and we would very likely see a BEARISH ENGULFING candle that follows. Once this is done, the intent of sellers has been made public.

I strongly recommend a sell from the Supreme M5 untested resistance formed on September 5 (57.63). The trade can be held until possibly 53.30 support level from where we might see renewed buying interest.

Sell limit at 57.63 (make room for spread plus one pip).

Target 53.30 (add spread plus one pip)

Stop loss: I recommend using the one day average range. It could be tighter though.

All the best!

swilo:
Baba... Weekend bash. Going as you planned.... I will soon call Meshpips to use his analysis tool to drill into the matter so we can get to the bottom of this banter.

Bros,

I should use my TOOL to DRILL . . .

Today na Sunday o!

Mcy56:
You don see the result of the polygamy you're practicing bah. You too help Ur portfolio by extending her days to weekends na.

@CP do you know when I gave people on this thread the first buy recommendation on that stock?

Do well to quote Agba's post on the first call or recommendation he made let me see whether I am wrong.

BullBearMkt:
...@meshpips no one is great except God Almighty!
And I am not making anybody's analysis looks light or irrelevant as you claimed. I only have challenges with your claims that your adjusted volume is all what required to predict price reversal. It has failed severally. Technically, UACN became a buying stock the moment it created the double bottom after Market Makers have taken advantage of investors/traders emotions. This has nothing to do with your adjusted volume which signalled buy at 6 about 2 months ago!

My dear think about it, if you are an analyst with JP Morgan & within 1 month lost 25% of your capital! Meehn, you'll be kicked out immediately as a failure...

I have told you before and will mention it again sir. That analysis was done using data from yearly charts.
I could have given you an entry with zero kobo draw down if I drilled down to run the analysis on daily time frame.

BullBearMkt:
...delighted that many have provided adequate responses to your irrelevant post! What you need to think about?
i) your "leading indicator" provided you a reversal price for UCAN to be 6, hence you started telling people who trusted you with their investment
ii) from 6, price falls to 4.5 that is 25% loss.
- Do you think the person you gave assurance to, having lost more than 50,000 of his total investment of 200k will be around to witness yesterday's rise in the stock price - when he categorically told you the money is for a particular use? Your model failed to show human emotions...
-Did you provide him/her assurance that the price will reverse at 4.5 based on your re-modelling the stock?
iii) If your so called "adjusted volume" failed to predict reversal price for UACN then, it is not guarantee it can for any other asset.

@meshpips, you will never stop amusing me. Mathematical models do not translate to success in stocks or any financial market, it's all about buying and selling; emotions and money management.

One of the "great" technical analysts here trying to make light of my analysis.

Time ALWAYS would tell the whole story.

My recommendation to this person.

Note the particular stock I asked him to buy.

meshpips:
ACCESS BANK

Buy between 6.00 - 5.80

Hold until 8.10 - 8.15

You can take partial profit at 7.10 -7.15

NOTE: The recommendation above is based on PRICE analysis only.
I will do the price - volume analysis and post my findings later.

ACCESS trade recommendation given since July 19, 2019

infofirst:
Good job bro. Thank you sir.

To the struggling traders, please do not try this at home on your real account. 1.5lots...on Gold. That's super high risk.

Precision on entry is the "koko"

meshpips:
Gold has been doing some very clean movement since this trading day started.

Neat stuff! Easy to trade!!!

Gold just told me "thank you sir! "

Gold has been doing some very clean movement since this trading day started.

Neat stuff! Easy to trade!!!

meshpips:
Buy trade triggred!!!

Price came back to my entry level, allowing me to exit for little or no damage.

I will buy again at a bit lower price.

Tinyemeka:
What broker do you use?

TigerWits Asia

The account is for a project.

priceaction:
No vex bro, are you working in fxcm?
Just kidding. I used to trade demo with them then, but not anymore. I think they acquired alpari UK that was liquidated. Who ever acquired alpari still has my unclaimed few hundreds of dollars with them. All gone now.

There is an Alpari office on Allen Avenue in Ikeja, Lagos.

I suggest you visit the office and see how things can be sorted out.

meshpips:
The charts show an impending USD weakness starting at 4 am Nigerian time.

Look for BUY entry on Gold and GBPUSD

Look for sell entry on USDJPY and USDCAD

All the best!

One of the very few times that I find it permissible to take a trade on USDCAD before NY session.

Trading rules are never cast in stone! Be fluid! Be flexible!

Note the PRECISION of my entries? This is why I have the liberty of using what many consider LARGE lot sizes RELATIVE to my trading account size.

Jobs that require a high level of precision pay the highest wages. Think about Pilots, surgeons etc

This market being largely leveraged demands of necessity that the trader be extremely precise lest he be punished greatly!

priceaction:
Bro we are talking of iq options here ooo . Se.eun needs the money from the big firm meanwhile the traders trading with them is not allowed to promote anything here. He has forgotten that majority of brokers are the big scammers. What an irony. See how life can be and money can change human thinking?

Seun just needs us to prove to him that money can be made CONSISTENTLY from currency trading.

People like Oga @shevychen and @currentprice can help us prove that to him.

Simply open a thread dedicated towards publishing (on this forum) your daily transactions in this market.

After about 3 months, if @seun doesn't change his mind about the currency market then absolutely nothing can make him change his mind.

I just love this 24/7 market.

While men are yet sleeping, Asian trading session has said to me "thank you sir"

Next would be London session.

Let's keep it green.

meshpips:
GBPUSD just had a huge jump to the UPSIDE as shown by VAP in the just completed hour.

Do well to take buy positions.

I recommend a buy limit at 1.2040

Buy trade triggred!!!

The charts show an impending USD weakness starting at 4 am Nigerian time.

Look for BUY entry on Gold and GBPUSD

Look for sell entry on USDJPY and USDCAD

All the best!

alphaNomega:
Any experience with Liteforex? Someone kept advertising their services to me but I am skeptical.

Liteforex is very okay. They pay promptly but they have some tricks to crash your account if you don't trade wisely.

They were the FIRST Broker to start collecting Naira and the fund the USD equivalent.

I have been using them since 2008.

They are okay BUT they have tricks o! If you are not smart, they will "do" you.

GBPUSD just had a huge jump to the UPSIDE as shown by VAP in the just completed hour.

Do well to take buy positions.

I recommend a buy limit at 1.2040

priceaction:
I even learnt that many offshores brokers hardly pass their clients orders to live server or ecn but rather demo, but you will think you are trading live. It's better safe than sorry and watch your brokers with keen interest. This is one of the reasons I still find it difficult to leave global prime and pepperstone. Just few of my experiences recently though.

Thanks for the update bro.

Regarding whether or not orders are routed to the interbank, we need to understand that there are Class A Brokers and Class B brokers .
Class A would route all orders to the interbank and as such, have no conflict of interest with the Trader.

Class B brokers on the other hand, (knowing fully well that MOST Traders would end up crashing their account within 90 days (maximum), do not bother to route the trades to the interbank.

Rather, they "take the other side of your own positions" by choosing to just put your order on paper. This is a RISK they take but it is worthwhile most times because once the Trader crashes his account (or they subtly help you do this through various tricks), the whole money becomes theirs.

Class B brokers take this risk and are usually rewarded greatly because the Trader's account would usually crash within a space of 90 days.

I really don't fault them for doing this, the only thing I frown at is when they go down-right dirty and use trick to make the Trader's account crash.

franticfargo66:
Ha... Praise God, fellow Nairalander in a place I thought I was all alone haha...

I posted a message in there looking for you (3:30pm Nigerian time).

Tag me in there to reply so we can find each other boss

Kindly send me your discord username via whatsapp.

Check my signature.

Thanks!

USDJPY

Supply differential seen on M5 chart.

106.37 is good for a sell trade.

Target 105.75

USDJPY:

sell continuation from the hour starting 10 am?

redsox11:
Hi Meshpips, wonderful result, more than fantastic. Thumbs up.

If I may, take what you can from this particular post.

I have in the past traded close to this way but very less aggressive now, adding more trades for recovery or entering more when it's going my way. It's fantastic way to trade. It does maximize your profit to the fullest.

My mentor and one other guy trade exact same way, the other guy is trading for a very big firm managing millions of $$ right now. My mentor is a retail trader, he likes to be his own boss.

I want to point out what he does. Every month, he start out with 6000 AU dollars in his account, he trades less aggressive first week to build FOREIGN CAP (this help to protect starting balance and get some initial profit). After getting some foreign cap, then he hit the market hard and aggressive with the initial profit until end of the month, then he withdraw everything and start over with 6k AU dollars.

The highest I've seen from him is 6k-45k in a month. He's got a lot of bad days too, a lot of times that he had to cut all trade for -5k , -7k AU dollars BUT he always protect starting balance. If he goes aggressive after getting some FOREIGN cap and get hit by the market, he goes back to protecting his starting balance and try to build FOREIGN cap.

Problem most ppl have when trying to trade this way is NOT KNOWING when to throw in the towel and accept loss, to then start to build again.

Good luck and enjoy your success.

Thanks bro.

Very insightful!

Tinyemeka:
You do different currency pairs based on their market sessions?

It is one of the ways of improving ones trading performance. I trade pairs in which it is DAY (bank hours in their own country).

Think about it, the major transactions will be done when banks are open in the country.

I am of the opinion that doing this greatly improves my profit bottom line.

franticfargo66:
@meshpips, are you by any chance on Swngfish's discord community?

Yes, I am.