₦airaland Forum

LaconicINC: Please I need some help from everyone in the house regarding leverage,my current leverage with instaforex is 1:600 and that is 83 cent per pip,i want it to be $1 per pip,how do i achieve that?should I increase my leverage to 1:1000 or I should reduce it to 1:400, this leverage and margin thing dey confuse me well well.Please I need your responses

I get time for work small today so lets go. Better read it up for a lasting understanding abi e lo si babypips school ni?

Three things you have issues with here: leverage, margin and lot size or pip value.

First of all, pip value. The value of a pip does not have anything to do with your leverage or margin. For pairs that has the dollar as its base currency, the pip value is 10 dollars for a standard lot size, while it could be greater or lower than that for pairs where the dollar is the qoute currency. For all of them, get the formular to get the pip value:

pip(0.0001 or 0.01 for jpy pairs)/exchange rate*100,000(stdd lot size)=where the dollar is the quote currency.

Where the dollar is not the quote currency, you'll multiply the result from the above by the exchange rate between the dollar and the qoute currency.

As an example and using your gbp/nzd above, 0.0001/1.9599*100,000=5.1023*1.6257=$8.2948 (1.6257=g/u exchange rate.

You waana increase your pip value? adjust your lot size taking the above into consideration.

Leverage and margin are related in that a high leverage minimizes your margin or enhances the number of position you can open.

If you can open a position with a margin requirement of 100,000 on a 1:100 leveraged account, you can times 10 of that on a 1:1000 leveraged account.

Lets assume you have 2000 dollars equity, and the margin requirement of a pair is 100,000 for a standard lot size postion, a 1:100 account will allow you to take a stdd lot position with 1000 free margin left while a 1:1000 account will only require a margin of 100 with 1900 free margin.

Leverage and margin, go and understand it very well o as the thing get many angles wey i no fit explain here.

Kirinwa: I have made 2000. Pips alone in gold today. I am on to getting another 1000. pips.Thank God I never gave up.Forex and gold is just like iron and diamonds!Gold fall na die!

Ignorace is indeed bliss. Even after that painstaking explanation.

Your case is beyond redemption.

azpekuliar: I created this thread to enable us share our experiences & challenges on obtaining the new drivers license.

My previous license was a dud. I plan to remedy that in the new year. I know the entire procedure has been revamped. There are no longer any underhand payments to fast-track the process or license those who shouldn't even be on the road.

One would need to pass through the V.I.O desk, licensing office desk before being finally issued with the new license at the FRSC office.

Any one who has successfully completed the process or is in the middle of the process can please volunteer some information.

Thanks.

Are you for real with your signature?

fxbomovi: My interest is to buy usdjpy gbpjpy eurjpy. Which one i go choose now. Am going for usdjpy.

Go for Ej or Gj as the dollar is plagued with the fiscal cliff bruhaha. Check it, the two of them have so far done well against the yen than the dollar.

Kirinwa: FOLLOW ME ENJOY GOLD MONEY SELL @ 1669.00 Target 500 pips stoploss 300 pips

While acknowledging that we can read various meaning to certain issues, there are issues that are standard and not debatable in some spheres. one of such is the issue of what a pip or pipette is. You have been adamant in accepting corrections from forum members and have continued calling pipettes pips with reckless abandon.

While this does not affect the health of your account balance, you never don't know where this brazen display of ignorance will burst your bubble; imagine hanging out with fellow traders or even meeting people you want to do deals with and you fail in this weak area of forex knowledge.

For the umpteenth time mate, calling pipettes pips is wrong irrespective of the digit quotation of your broker (four or five).

INNO18: #6000 to #12000. But you dont want to go near a Goat market during a festive season as this.

Thanks

INNO18: A huge and healthy Chicken can cost from #800 to #1500. Depending on the Season. During Easter when Christians buy Birds rather than Goats as they do during xmass, Prices can sour as high as #2000 for a huge and healthy Chicken

Please, do you have an idea of how much goats cost over there?

I use mtn super saver plan and call @ 10k per sec (N6 per min) mtn to mtn and 20k per sec to other networks.

fxbomovi: Sorry for your loss. You caused the loss by not applying a stop lopsi

Stop loss wouldn't have saved him o. That gap thing is no respecter of pending orders and stop losses.

efe22: Can someone please explain what happen to EJ. I was on a sell on Friday @ 109.90 which was in profit forgetting to close before 10PM. As at the close of market at 10PM, trade was in -3 pips only for me to check 11pm today to see price @111.11 which mercilessly wiped out my entire balance. My first time of experiencing a mess like this. Another lesson not to leave trade open over the weekend if you must not use SL. Honestly my heart is broken as I don't even know what to do now.

Google the causes of gaps in forex and you get a clearer view. The opposition won the japanese election which should necessitate sell off because of its pro QE leader. the banks traded it b4 mkt open hence the gap

surveycash:
Guys, see EJ and GJ..

Where are they headed?

I better leave this monday trades oo

Happy new week

Shinzo Abe is poised to be the next PM cos his party won majority of the seats. Expect further weakening of the yen as I foresee a massive sell off.

Ivynwa: I'm not one to use 0.1, 0.2 lot size, don't have the patience for that. A friend advised to use 0.1 lot size, I also read somewhere that it helps minimize loss but I was like "What?. Good to minimize loss but how am I going to make money with that lot size"?. Can only use such lot size when i start testing out gold until I'm ready to swoop in on it.
Retracements sometimes gives black eye like you said but a Deep retracements can be guarded against with "stop loss", I like to give a trend breathing space for retracements as a well behaved retracement can bring in good pips when it shoots up but I already learnt my lesson from giving too much room (stop loss that is a bit further in distance)-----on that note let me even find out something from the house. Please I read from an expert somewhere that the best "stop loss" distance to give is 5 pips away, what stop loss distance will you guys suggest for one?

Every man with his own, it is not an ironclad thing. If yours is using reasonable lot sizes like you stated, it is better using a tight SL. If I'm always around my screen, I don't see why I should even use a SL, I rather hedge the trade. But for time, I would have elaborated further.

BTW, love your spirit of learning this biz.

donziko: you na correct oma you be be that...to de follow this thread.Keep following ooh and import some things...when i come home we go hook up

How you take know say I dey home? Lagos tinz. shoot me mail @ oomaojo at yahoo dot com.

Regards.........

Mr_Chima: This is where he copied the image. http://forextraderoom.net/#/about-us/4561118379 .thats the joke of the year 2012

Cool down first, 'the person that designed the trading room he attached designed his which is even 2x what you've got here'. I smell you are fake.

prowitin: THE RETURN OF ODIAERO.

Grab Ur Copy now.

Return of the MAC ni.

donziko: guy you be igala?

Yes Sir

May the Lord God bless you guys real good.

What a quite house! Oya crack ya rib with Kiwitrada's sigi here:

http://www.forexfactory.com/showthread.php?t=10372&page=48429

May the pips dey with us!!!

rozayx5: Please Gold Traders in the house, which broker is best for trading Gold, cause i cant trade anything out side currencies here at Insta, i want a seperate account for gold - come Jan 2013 ( EJ, UJ, EU, GOLD ) will be my focus , for record purposes

Hi Rufus, as per the above, I think you'll be fine with Alpari UK. Spread is 4 pips and leverage is 1,000 for a 1:100 levered account and standard lot size. Kindly note that the 1,000 leverage is on gold futures(GC.G3 for the February 2013 contract) which is a perfect replica of gold spot(XAUUSD).

rozayx5: GU the crash continues, i respect 4H timeframe in any decision i take now
its a critical one

I hope you've not pulled the trigger o, wait till after the news at 10:30am ngn time.

outside other charges, you should be paying N86,641.71 per month. use loan ammortization schedule on excel and you'll be fine.

Nkemika: very funny how one tend to place sex as top priority. in the religious view, are u suppose to test the man or woman in the first place, i think what makes people place sex on their top list is because they have tried so many and already know which is good or not so instead of focusing on much more values in their partner, they tend to focus about the bed, forgetting that no matter how good u are today, there will be a time when you both will get tired of the routine in bed...what keeps marriages is that unique friendship built.....those days how fathers and mothers will just marry and practice till they become good together in bed. ashawothings#, keep placing your top priority as Sex, Na you get urself plus na u know urself!!!

God bless you this Tuesday afternoon.

eh

ojubi: I know a girl who is currently refusing a marriage proposal from a very promising, God fearing, ambitious, and nice young rich man cos accoding to her d dude does not satisfy her in bed.
I was speachless when she told me about it some days ago.
Until that day i use to think sex as d women make us pay for it, is only important to men.
Obviously i was wrong.

God fearing and fornicating? which God are you talking about.

naijababe: Stopped out in mins..........ok o, standing aside licking my wounds

E kpele ma. After this long bullish runs, I forsee the COIs report to spur the much awaited bearish run.

naijababe: Selling both crudes.........I hope Iran katakata no go kon run my bele sha

Madam hw mkt.

Just exited my long position, if I were you, i'll wait till the crude oil inventories data is released.

Evie007: Banking job =obituary

They just sent an Obituary mail of a colleague banker. Most of these deaths are as a result of work related ailments.

naijababe: Which uppercut? When the thing dealt blows twice on Monday una no talk o

check what you said here:

naijababe: Not complaining, an R:R of 1:6 no be moinmoin. I'd rather re enter my long when the retracement is complete than short it. The daily is in a very very bullish trend

I've said it b4, the return on crude far outweigh its risk, na which currency pair fit do that r:r in a day.

Crude is for those with hot blood.

naijababe: Oracle ke? Abegi o, me na follow follow i dey do o

The Idoma people of Benue say we should call you so because thats what you are.

rozayx5:

Oma u don turn King Maker -

If you say so, but seriously no be wetin she be. Na so so upper cut she just the give the thing.

naijababe: Oya na! Ja mi si

Okwute ano (oracle of crude)okwute for oracle and ano for oil. Who fit tell the underlying language.

naijababe: Not complaining, an R:R of 1:6 no be moinmoin. I'd rather re enter my long when the retracement is complete than short it. The daily is in a very very bullish trend

Noted. Me i get another title for you o, you care to know?

naijababe: Is correaltion dead ?! Bulls buying oil like there's no tomorrow but selling other $ correlated instruments

The universal truth in this biz is 'nothing is cast in stone' aka anything is possible. 294 for brent and 311 for light all diff bw intra day h/l.

I'll be shorting 'em at close or open of mkt (10pm or 1am ngn time).