GladmanGoddey:

OK boss thank u

seyiade26:


LOL good for ego; but where you see boss?

GladmanGoddey:

U e bi u nw . How long have you been trading?

infofirst:
The nairaland spam bot just free me. Guess the ministry is doing alright.

myseyf:
Experience traders I need your help! I tried to open up a new demo account on meta trader 4 using Fx Pro as my broker. But the least amount of money I can deposit is $3000 while I only want to use a $100 deposit for practice.
How can I solve this issue?

bestofwonder:
Bosses in the house, massive thanks for creating and following up on this thread, I want to create a demo account with $100, what leverage do you advise to be best.

GladmanGoddey:

have you heard of exness? are they good?

VeeVeeMyLuv:

guy correlation does not work atimes. for example eurusd was moving up steadily while gbpusd was crashing down. and many more examples.

teemy:


Try out EU and uchf

VeeVeeMyLuv:
yea i know, but sometimes both pairs moves same direction.

teemy:

GU left the EU and uchf group since the brexit wahala started a couple of years ago. It's like a brother that has moved out to his own apartment with his own crew.

seyiade26:


Like 1 and half years now. Mostly demo with like 2 weeks of live trading before, you know..

Now doing very tiny live trading till I finally decide to step up. Had other really cool stuff going that are now on hold just because of this. So it's not a joke anymore...

Enjoy the rest of your weekend...

teemy:

They are okay from my perspective and even though they take the opposite side of trades against you (they don't hide this), they are sincere with payouts without bitching about it.

It is not a new thing. Even FXCM takes the opposite side of trades on low balanced accounts of their traders and were a while back penalized for not revealing it.

Exness spreads are also low and everything about them is just straightforward and reliable as they even sponsor Real Madrid but all the same, don't rely too much on any broker.

seyiade26:

I only traded USDCAD and USDJPY. Although I saw that a lot of the pairs on the watchlist I posted did make good trades later. I also saw how USDCHF turned where I may have entered if I was watching...

Your method is really solid but I now have the probably good problem of many paths to take and don't feel like abandoning any. In fact my mind keeps wanting to try for more. I know different methods can have dry seasons and I dislike dry seasons...

How do you manage to track your watchlist. I won't even burn effort preparing them manually; never mind trading them simultaneously. I get very engrossed in individual or few trades; but I am trying to think of a way to take everything and earn more.

Eventually the week was a slight loser because some other things I tried (seasonality) flopped (or just went through a bad phase) and I got out too early from uj (which actually earned much more than the USDCAD I posted)...

teemy:

They are okay from my perspective and even though they take the opposite side of trades against you (they don't hide this), they are sincere with payouts without bitching about it.

It is not a new thing. Even FXCM takes the opposite side of trades on low balanced accounts of their traders and were a while back penalized for not revealing it.

Exness spreads are also low and everything about them is just straightforward and reliable as they even sponsor Real Madrid but all the same, don't rely too much on any broker.

Bolutumiii:
Good evening bosses in the house, I did some analysis on my mt4 yesterday, saved it nd switched off my system, I wanted to continue this evening so I loaded the name under which I saved it lo nd behold, I couldn't find my analysis again, pls what can I do maybe I can retrieve this analysis @pipnator, redsox11, bullbearmarket, p. James, infofirst ND any other person that knows about system mt4 or that has gone through similar occurrence. Thanks

collitexnaira:
Please enlighten me. Isn't the market supposed to open by 11pm? Am surprised some pairs are already moving

alphaNomega:


Are you serious right now? How many more brokers do this?

JoshMedia:

Yes, I noticed. Some pairs opened 10:00PM

Bolutumiii:
Good evening bosses in the house, I did some analysis on my mt4 yesterday, saved it nd switched off my system, I wanted to continue this evening so I loaded the name under which I saved it lo nd behold, I couldn't find my analysis again, pls what can I do maybe I can retrieve this analysis @pipnator, redsox11, bullbearmarket, p. James, infofirst ND any other person that knows about system mt4 or that has gone through similar occurrence. Thanks

teemy:


Lots. They are called B-book brokers.

B-book brokers pass your trades to their own dealing desk and take the opposite side of your trades. Since most traders lose money, for them it is a sin to "let all that good money waste away". Their major income source is basically money lost by traders. They are required by regulatory bodies to disclose they take the opposite side of your trades.

An A-book broker on the other hand pass along your trades straight to the interbank market and by way of leverage their liquidity provider handles the funding of trades. Their major income source is basically commissions.

Some brokers do a mix of both book types.

collitexnaira:
Please enlighten me. Isn't the market supposed to open by 11pm? Am surprised some pairs are already moving

alphaNomega:


This is interesting. So how do I know my broker type or if they offer both services?

Also, what if they take the opposite of your trade but the market moves in the direction of your trade? Would they loose money?

redsox11:


Take the path that is making you money / that is working for you already.
Well we win some and lose some. The U/cad didn’t fall some until the next day.

Another thing, say I have entry signals on G/aud , G/cad, G/jpy, G/usd , E/cad , E/Aud, E/gbp, U/cad and others. I won’t enter all, I’ll enter the best 2-4 pairs.

Watchlist- It’s fairly easy for me. At the end of each trading day, I know probable pairs that could go into the area I’m looking for set up.
I just wait for price to get into the area and show some weakness or blow through it.

Sometimes when I get a good read, Say I want to sell a market in a particular area, I put a buy into the market and when price rise to the area, I close my buy and enter sell.

redsox11:
You don't have to trade every day to make money.

If you know how to exploit this. Low risk high reward. For night owl folks.

E.g GBP/USD usually move 100pips a day... Wait for when it does 200-250pips in a day. Meaning a crazy day(price move 2x than it usually does).

Don't touch it, wait for 1-3 hours into asia session to enter the market. Why it works, market is over stretched, 85-90% of the time, price need some form of correction.

Attached chart below shows where to get in.

Good luck.

teemy:


Considering that most traders lose is why brokers operate dealing desks but they are obligated to pay up when you get it right. Worst case scenario for an honest broker, they switch you to A-book when you keep trying to send then to the farm.

You can always ask your broker what type they operate and from their website, that info is already stated somewhere in their long list of info.