₦airaland Forum

Rich4god: Ok, so how do you trade the news.

i dont trade the news... infact av not traded new for over 2 years now, i just avoid the major one that is coming out and if am in the right position, am not bothered about the news....

Kirinwa: mess ME!

from the daily time frame, if this sell is to hold i see it heading down all the way to 1667 but i cant enter any trade for now... will be on the sideline and watch and enter after these moves that is about to happen...

oya on your mark, get set.......
lets see how this nfp goes...

Rich4god: Plz house, is hedging a good way of trading NFP news.

well personally, av never done that before...

endfx1: EU tinz still holding....+100pips locked waiting to see if NFP will take us to the promise land

+150pips already

me already closed my sell position since yesterday... wished i had stayed on with it.
took a buy this morning, but my stop was hit...
will wait till after nfp to see for possible entry for eu and gold....

pending buy on eu activated at 1.2941...
let see how this trade goes...

Kirinwa: I think GBP news affects. Gold. Does NFP affect it too?

its only nfp that i know that majorly affect all currency and commodity online major. one just have to know which will be majorly affected to trade with it. like i said earlier, i dont know and dont even want to know what news affect it, as long as my analysis is telling me to enter a trade i will enter and if not, stay out.
know and understand what works for you.

just like this gold trade i said it should get to 1708 area which is where my pending order is, if it doesnt get there, am not entering the trade, i will rather stay aside and let it just go down if its going now....
well right now pivot might likely decide if it will continue it move down or reverse from here
NOTE: gold too at time can be very funny in it movement, if you understand what i mean, the spikes and crazy up and down movement

Kirinwa: What fundamental news drives gold?

seriously, i dont know because i dont use it....
cant even remember the last time i read the news for my trading...
xcept for the NFP which most of the time, i stay out of the trades or either close my trades or adjust my stop prior to the news like today is going to be,,,

@ROZAXY5, did you see my message on facebook yesterday...

my Gold trade today is a sell which should start around 1708 area... placed a pending sell at 1707.5 with 40 pips stop....
for eu, waiting for eu to still come down a bit to 1.294 area to take my buy on the trade...
make person chop small before the release of NFP...

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me seeing gold to start selling around 1707.... placed a pending sell with just 40pips stop...
thats it for me for today... placed the sell at 1706...
i also still see eu buying but i still feel it might get to 294 before changing course.

Well, this is forex anything fit happen....

just closed gold with 120pips... waiting for it to resume the sell to enter again... maybe by nightfall of tomorrow...
thats it for me for now... until another entry...

this eu is still coming down.. seeing it getting to 294 area first before deciding whether to continue the down movement or not...
current on 90pips on my gold buy...

well as for me, am alaready out of the eu sell with +52 pips...
what a day...

@rozayx5, quickly check your facebook message now, really need you to qucikly do something for me...
thanks

update on my eu trade....
my eu sell is still on... like i said earlier that i doubted the buy wich was true though it almost hit my stop which was at break even.
here is the updated eu trade as at now.

wisemanj: my guy u ar funny why shld u be confuse

please what did you import?

according to the setup, the eu is currently on a buy position, but why i still left my sell trade is because the bbstop was not broken by this candle though all the setup is saying its a buy...
so you can buy if you like, but for me, i will wait at the sideline and watch and also leave my trade since its still in breakeven, so no sweat...

and i might be wrong and my stop get hit....

another entry level will soon be formed on the 1hr time frame, here we that the rsi is now in the neutral zone between 45 and 55 so watch out from either this candle or the next if price break out from any of the moving average,
remember that to buy, rsi must be above the moving average while to sell, the rsi must be below the moving average...
patience is key here now...
enter your trade and make sure you use stop...

hope this helps

i know that the trend is still bullish which is why i put my eu trade at breakeven...
just seeing this as retracement down to either 3030 or 3005 to enter my buy.
but one has to careful around this area before entering buy...
expecting that when price gets to this level IF it gets there, it going to at least give signs of reversal back to the bullish trend.. because these area is a 50& support area from the higher timeframe...

i might be wrong but who knows... like i said am not bothered with the trade because my trade is already on breakeven and also enjoying my gold buy trade since yesterday now from the very low...

my eu currently on +40pips since yesterday... trade already on breakeven... so this is a free trade for me...
my gold buy trade still on, though it has reverse, i still feel its still going up.. if not, my stop is also very small about 20pips... so right now am not bothered...

fxyoube: pls what is d bb-stop input (setting)

just use the default settings that came with it.... i didnt change anything

rozayx5: I dey, the pips are going gaga
will hook up with you on face book later

okay no problem....

whoa... gold already up by 90pips.... enjoying the ride...

aw far rozayx1, i didnt hear from you again about our deal... you no longer interested? let me know so that i can take my mind off from it and start focusing on other things...

this is what am following for this retracement using the fibo on the 4 hours, at least looking at 3005 which is 50%..
if i lose out from this trade... am not bothered... to me, its already a breakeven trade since av made the pips needed from the other trade...

rozayx5: please do your forex homework well to avoid the following

nice one there... how you dey...

for my eu trade, i have adjusted my stop few pips to my entry and also entered a buy on gold at 1685 for some quick pips... using tight stop though...
it is well with us all...

just closed my gold trade with 84 pips.... the adjusted my stop on my eu sell...
thats all for me for today... will leave the eu trade to continue running and if it hits my stop.. am still happy...

well as for me, am already in on the sell on eu.... let see how this goes...

to me, not yet... the next 1hr candle will decide for me for me if the sell has started, once there is a break of the red moving average and also the bb stop. currently on a sell on gold from the high of today though....

this is an update on the setup i gave yesterday concerning the trading system sent to me....
i have added another tweak to it to even make it better. i added the bbstop indicator to the stting and here is what i got.
the bb stop actually serve as a place to put your stop and to let you know if the trend has changed or not.
now for me.. before eu can actually sell using this trading system. price has to break the red moving average and the confirmation is also a break on the bbstop line to confirm with the other entry setup that you must follow.
hope this helps....

for eu, i will take my sell around 3086-308 area with 1:1 risk:reward ratio for those that are playing it safe...

endfx1: Bros no vex oooo...i was just thinking why would your account crash from $560 to $ $184 with just two trades over 50% loss? If you placed the trades yourself then there are two things involved.. 1. you did not use good MONEY MANAGEMENT in placing those trades thereby giving way to gambling with your funds 2.Perhaps the previous signals from the guy was cool that is why you had to subscribe to his signals and not only that you had some level of confidence in his market predicting ability which also confirmed my earlier observation of your praising him when it was going well and so you placed the two late signals with a high lot size that incidentally crashed your account by over 50%....... very well its painful to loss that much in just two trades but i think you shouldn't blame the dude much coz he did not force you on gun point to subscribe to his signals it was just the earlier confidence you had on him that prompted your action.

As much as i share your pain lets always try to be logical and constructive in our criticism

If you watch me very well i don't join issues with people on the this thread but your own case touches me based on personal reasons..you are a good friend i will only urge you to take time out to learn this thing bro...Nevertheless I'm optimistic you will recover your loses just be patient and disciplined

supported...

@rozayx10, how you doing....?

update on the eu trade with the new setup i gave above.
As you can see with a risk to reward ratio of 1:1 you would have been out of the trade by now with a profit.
though at this level anything can happen, price can just start coming down now before continuing it buy trend or it can just continue it up movement up to 312

well my other trade stopped me out at break even, so its still good.

here is the pics of the eu trade again....
later.

to explain the setup more for those that need it more, i have illustrated using the chart examples of trade setups and also that of today right here in the chart.
as you can from the first buy trade, price first of all broke above the blue 20ema, followed by pirce moving above the 55 rsi and the rsi is above the 10sma, which gives one a valid entry signal to enter long with a 1:1 RR AS THAT IS THE SAFEST BET. stop is placed just below the red 20sma.
in case of a fast thrust of the market breaking the ema though this is telling you that the buy is valid, you have to make sure that all the stup is correct before you enter the trrade, though the stop in this case will be much, you can either enter right there or wait for price to actually retrace down a bit before you enter but in some cases, price will never retrace rather it will continue its upward movement, so you have to be smart with it and ensure that you if you are taking the trade with large stop, reduce your lot size so that the amount you are risking is not much.
like in todays trade, an entry point has been generated with all the other setup in place, stop was place jsut 25 pips below so i will be looking at exit at 1.309 from this trade and as price is moving up, i will be adjusting my stop in the trade.
currently in another trade now, so am not currently in this eu trade right now....
hope this helps