How come XM don't accept voters card as a means of identification. I have the same card for the,octfx but XM is not accepting it. What can I do?

Thanks.

bestofwonder:


I have been trading a demo account for over a month now, using mt4 platform. And I made a profit of over $564 using a lot size of not more than 0.05.
I just switched today to another demo account using $100 as deposit via fxtm standard account. Trading on mt4. Here is a screenshot of the account now, just waiting for one more trade to turn blue so I can scalp it. And close for the day.

Good performance but the lots are not appropriate for such account size. It is about time and it will be history.
0.01 is alright for $100 account size.

@AwesomeDuru
You have to reset your mind. Your live account is your business. You are not supposed to close shop because of one bad deal.
Imagine an airline closing business because of one airplane crash. Treat your fx account as a business.


@Beginners. I might be wrong but most of you are not taking time to learn enough. Only few are exempted. The market is damn crazy, you need to have an edge and the edge is to learn, read and practice.

infofirst:


Well stated. It's a journey and it's one that you will keep learning and relearning as you experience some things on your own. Never give up.

Thank you.

USDCHF just f&#ked me for about 10pips or so but EC is saving the day.
Any intention of buying EURO for now should be off the book.

@AwesomeDuru .. You see why you should trust your analysis more.
You were right about your analysis on EURNZD. It just sold for pennies.
I sold too but closed very early when price was stalling.

My bad i miss this trade while in class, everything was just according to my game plan . i wonder what is this cause of this huge drop. can someone tell me the causes of this because there was no major news on eur or usd today or?

GladmanGoddey:
My bad i miss this trade while in class, everything was just according to my game plan . i wonder what is this cause of this huge drop. can someone tell me the causes of this because there was no major news on eur or usd today or?

There were.
Euro Interest rate decision.
Speech by the President of ECB.
Check forex factory for news event.
The red ones are high impact news.
Or download Tradays. It's an app with news events and little explanation of what they mean.

EURUSD
Before and after.
A simple setup. One could see the descending channel and rejections from the upper trendline.
The black line area is the target I had in mind with the setup.

PJAMES1:


Not trading live at the moment. Not likely I do for the next six or seven months for some reasons. I have traded a live account before though. A short trading career . I grew 70 USD to about 200USD in two weeks. Then blew in a matter of seconds. Wanted to trade a news event. I was very naive. Plus greedy. Opened a lot size of 0.3, I think equity size at the time was about 160,170 USD. A couple of pips.. Margin call. Can't do something like this again.

Learnt immensely from the short time and the margin call.
I am never trading news again.

One can't precisely say what will happen to a currency pair. One must always have it in mind that the market can go against one's bias or position. That would make one have capital protection in mind when opening trades. One must always have it in mind that the opposite of what I expect to happen can happen.

Money management is almost everything. Before opening a trade, one should think if there is a flash crash that goes against me while I am in this trade, would my account still be fine. One must protect one's capital at a cost. If one loses one's capital, then one can't trade. Mine was particularly annoying because the other trades were doing fine even after I got the margin call. Would have been very fine if I had not made that decision to trade the news.

Psychology is very important. You can have nice setups.. Get the direction the market would go and still make losses..

I needed to work on my entry. Already doing this. One doesn't just jump into a trade because a resistance or support was broken or sth. There is a need to know what exactly one is doing.

At the moment.. Not going to invest my money yet. A lot of things still to work on. Getting there slowly. It's a gradual process.

I read somewhere that a loss remains a loss when one doesn't learn from it. it can only get better for you if have a mindset like these. all the best

NZDJPY...
Are we gonna see break of that trendline for a full sell?

coolvibes:

HotForex is okay. Nigerians can easily deposit and withdraw in Naira, or dollars if you so prefer. They also got their certification from the FCA in the UK, which means they are closely monitored by the British authorities.

Pls learn n demo trade before going live.

As for FXTM they have good n flashy adverts to lure traders in, but their spread is terrible. They asre a 'Market Maker' broker, which means taking the opposite sides of any trade you enter, meaning they only care about their own profits n not the success of the trader in the long run.
As a rule, stay away from brokers with only one license gotten from Cyprus. Good luck

have you heard of exness? are they good?

PJAMES1:


There were.
Euro Interest rate decision.
Speech by the President of ECB.
Check forex factory for news event.
The red ones are high impact news.
Or download Tradays. It's an app with news events and little explanation of what they mean.

oh okay

i had this idea for trading high impact news like bank rate etc. the idea was to open two account of the same amount and max the leverage. then you take a buy on one account and sell on another account few mins before the news is release with a huge lot size. so by the end of the news event one account is gone and the other one has triple or fourple . what do you guys think? has anybody tried something like this before?

GladmanGoddey:

I read somewhere that a loss remains a loss when one doesn't learn from it. it can only get better for you if have a mindset like these. all the best

Thank you.

GladmanGoddey:

have you heard of exness? are they good?

I can't say man, don't use them.

SOME of the reviews I see about them don't look too good, especially from last year upward. Maybe the
bosses here can add a word or two about exness.

In fact I will ask all my fellow newbies to kindly go through this thread by boss @dow jones it's quite useful especially when trying to figure out the best broker to use for live trading. I personally gained something from it.

https://www.nairaland.com/3934197/defending-forex-trading-golden-goose

PJAMES1:
NZDCAD
At the ceiling of a ranging market. Let's see what happens.

Would be watching this. If things remain this way by end of the trading day.. A sell might happen....

infofirst:

Good performance but the lots are not appropriate for such account size. It is about time and it will be history.
0.01 is alright for $100 account size.

@AwesomeDuru
You have to reset your mind. Your live account is your business. You are not supposed to close shop because of one bad deal.
Imagine an airline closing business because of one airplane crash. Treat your fx account as a business.


@Beginners. I might be wrong but most of you are not taking time to learn enough. Only few are exempted. The market is damn crazy, you need to have an edge and the edge is to learn, read and practice.

My boss, don't mind me. I just wanted to clear my mind and relax a bit. Shop will open next week Monday. How has been your week?

PIPnator:
USDCHF just f&#ked me for about 10pips or so but EC is saving the day.
Any intention of buying EURO for now should be off the book.

@AwesomeDuru .. You see why you should trust your analysis more.
You were right about your analysis on EURNZD. It just sold for pennies.
I sold too but closed very early when price was stalling.

Noted boss. I will sell this pair and GBPNZD at any slight pullback when I open shop next week.

infofirst:

Good performance but the lots are not appropriate for such account size. It is about time and it will be history.
0.01 is alright for $100 account size.

@AwesomeDuru
You have to reset your mind. Your live account is your business. You are not supposed to close shop because of one bad deal.
Imagine an airline closing business because of one airplane crash. Treat your fx account as a business.


@Beginners. I might be wrong but most of you are not taking time to learn enough. Only few are exempted. The market is damn crazy, you need to have an edge and the edge is to learn, read and practice.

#my$100demo
closed trades

infofirst:

Good performance but the lots are not appropriate for such account size. It is about time and it will be history.
0.01 is alright for $100 account size.

@AwesomeDuru
You have to reset your mind. Your live account is your business. You are not supposed to close shop because of one bad deal.
Imagine an airline closing business because of one airplane crash. Treat your fx account as a business.


@Beginners. I might be wrong but most of you are not taking time to learn enough. Only few are exempted. The market is damn crazy, you need to have an edge and the edge is to learn, read and practice.

#my$100demo
Running trades

USDCAD should please come back to pick us up na

@infofirst thanks for this challenge. Psychologically the way i'm trading on this account is diff from all those demo i have blown

Anyone watching UsdChf ? Looks good for a potential reversal in the coming week, based on monthly, weekly n daily supply/resistance zones.

femora007:
@infofirst thanks for this challenge. Psychologically the way i'm trading on this account is diff from all those demo i have blown

Beautiful. Keep that up. Impressive. Just learn from the reds and it can get better. Am following. Game on.

coolvibes:

I can't say man, don't use them.

SOME of the reviews I see about them don't look too good, especially from last year upward. Maybe the
bosses here can add a word or two about exness.

In fact I will ask all my fellow newbies to kindly go through this thread by boss @dowjones it's quite useful especially when trying to figure out the best broker to use for live trading. I personally gained something from it.

https://www.nairaland.com/3934197/defending-forex-trading-golden-goose

Nice thread. People should go through this. Thanks for sharing.

coolvibes:
Anyone watching UsdChf ? Looks good for a potential reversal in the coming week, based on monthly, weekly n daily supply/resistance zones.

I'm watching it too. I think it'll continue riding upwards until it hits 1.0331 levels. That's a potential +350 pips movement

Imagine having two open positions on this.

I'll be waiting to buy when it comes to retest that resistance. Might just be the account doubling move I have been waiting for or not

PJAMES1:


Nice thread. People should go through this. Thanks for sharing.

U welcome boss

AwesomeDuru:
I'm watching it too. I think it'll continue riding upwards until it hits 1.0331 levels. That's a potential +350 pips movement

Imagine having two open positions on this.

I'll be waiting to buy when it comes to retest that resistance. Might just be the account doubling move I have been waiting for or not

You're right bro,
I tend to spot things a bit too early lol. Btw your GA call was spot on, did you see how price was rejected overnight, n the bears are coming in.

But seriously, where are the

Currentprice
BullBearMkt
Tunderr
Edd1e etc of this thread na

What is happening? FTA has been surviving solely on special efforts and inputs by

Infofirst
Pipnator
Redsox11 etc

We need more old hands please.

coolvibes:

You're right bro,
I tend to spot things a bit too early lol. Btw your GA call was spot on, did you see how price was rejected overnight, n the bears are coming in.

I'll sell that pair soon. I'm looking to open shop this night because of it. I'm still looking at it with corner eye first. Thanks bro.

AwesomeDuru:
Are you looking at GBPAUD? It has currently touched a resistance that has held in the last 3 years. I see this pair dropping heavily from here. It's starting to show signs of falling already.

When this pair decides to fall like it has already started doing, it'll be a huge drop. We might be looking at a potential +1000 pips drop. Let's wait and see what Mr Market will do.

coolvibes:

I can't say man, don't use them.

SOME of the reviews I see about them don't look too good, especially from last year upward. Maybe the
bosses here can add a word or two about exness.

In fact I will ask all my fellow newbies to kindly go through this thread by boss @dowjones it's quite useful especially when trying to figure out the best broker to use for live trading. I personally gained something from it.

https://www.nairaland.com/3934197/defending-forex-trading-golden-goose

Thank you boss. Pls what broker are you using?