ehizmac:
Good day everyone.. Good to know this place still exist... Just saying hi to all the new and old traders... Hows business, hoping to contribute my quota to the group

ehizmac:
Good day everyone.. Good to know this place still exist... Just saying hi to all the new and old traders... Hows business, hoping to contribute my quota to the group

alphaNomega:
I cannot explain the long movement on GBPUSD today, so I'm removing it along with other GBP pairs from my chart. It's too early in the month to start recording losses.

I have advised myself to stay off GBP pairs for the rest of the month.

collitexnaira:


I was surprised too, though i didn't take any GBP pairs. The long movement was unexpected at that particular period. Sorry for the losses.

alphaNomega:


I lost about 40 pips on AUDUSD, did not trade GBPUSD because I promised myself to stay off it this week. The chart is still open on my platform, but with today's unprecedented move. I have to remove it until the month is over.

I'm forced to read other pairs now since I have only been trading GBPUSD for the last one month.

collitexnaira:


Why did you choose to trade just one pair for a whole month

alphaNomega:


To make concentration easier. I only focus on news and articles concerning the British and American economies. Every other thing was noise.

The disadvantage to this method is what I'm facing now. A high profile process like Brexit brings a lot of controversy when trying to make technical analysis and follow price action.

The fundamentals will drive you crazy too. Early today a news release for USD was good. Normally this pair should favour shorts for the short term at least, but look at what happened today.

AUDUSD is a more stable pair fundamentally so I'll stick with that and maybe EURJPY. Though AUD and JPY pairs really move during the Asian session when I'm asleep. I'll give it a shot and see how I fare.

VeeVeeMyLuv:

Boj rate & policy coming up.

JoshMedia:
GBPUSD reduce my $1000 plus account to $300+ today.

It was so surprising

alphaNomega:


To make concentration easier. I only focus on news and articles concerning the British and American economies. Every other thing was noise.

The disadvantage to this method is what I'm facing now. A high profile process like Brexit brings a lot of controversy when trying to make technical analysis and follow price action.

The fundamentals will drive you crazy too. Early today a news release for USD was good. Normally this pair should favour shorts for the short term at least, but look at what happened today.

AUDUSD is a more stable pair fundamentally so I'll stick with that and maybe EURJPY. Though AUD and JPY pairs really move during the Asian session when I'm asleep. I'll give it a shot and see how I fare.

JoshMedia:
GBPUSD reduce my $1000 plus account to $300+ today.

It was so surprising

GladmanGoddey:
Please Bosses in the house, what is happpening to GBP? why such movement

donblanco:
Brexit vote debate starts today in uk parliament and d govt. got a form of legal cover on the issue of backstop from the EU.so it gives brexit some hope though nothing is assured when the parliament votes.wff. So for now one needs to be careful with gbp.

infofirst:


Out of the contest but not out of fx. Do not relent bro. Keep striving, All the best.
Definitely if there is a kind of something I come up with, you will be considered.
@Famora007 appeared well positioned. Game on.

@Benqozenero,@collitexnaira
How is it going at your end?

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.

GladmanGoddey:
Please Bosses in the house, what is happpening to GBP? why such movement

pinbar:


i will give you guys a hint this day on how market makers do their stuff.....perhaps it will improve your performance in the fx market.

Market makers enjoy red news cos it gives them the opportunity to move price to where they want . What you see happening to GBP is not new when news like this is coming.... it defiles chart analyses and rubbishes known chart patterns .

They actually keep pushing price as far as they can taking out stops only for them to dump in a massive way. So in other words, GBP is going to drop like no mans business later today, if you are long, you are actually on a loooooong thing.

Cheers

redsox11:
I'm surprised when you guys keep saying you don't see this coming. Don't you guys check calendar every week/ morning before trading? It's BREXIT week, it's a good week to manipulate and do all sort of crazy they want to do and hide it all behind brexit excuse.

If anything, when you put in any entry, put your SL, do not hope , trade with solid plan. I was going to alert people to Brexit week, but totally forgot later on.

PJAMES1:
I have learnt my lessons about news and major economic events. Best thing is just to stay out. Protect your capital.

collitexnaira:


Boss, beside forexfactory, which other reliable platform can one get news that speculate more on news that will move the market. Because looking at forexfactory i couldn't see any indication that there will be Brexit news this week.

pinbar:


i will give you guys a hint this day on how market makers do their stuff.....perhaps it will improve your performance in the fx market.

Market makers enjoy red news cos it gives them the opportunity to move price to where they want . What you see happening to GBP is not new when news like this is coming.... it defiles chart analyses and rubbishes known chart patterns .

They actually keep pushing price as far as they can taking out stops only for them to dump in a massive way. So in other words, GBP is going to drop like no mans business later today, if you are long, you are actually on a loooooong thing.

Cheers

alphaNomega:
I cannot explain the long movement on GBPUSD today, so I'm removing it along with other GBP pairs from my chart. It's too early in the month to start recording losses.

I have advised myself to stay off GBP pairs for the rest of the month.

JoshMedia:
GBPUSD reduce my $1000 plus account to $300+ today.

It was so surprising

collitexnaira:


Boss, beside forexfactory, which other reliable platform can one get news that speculate more on news that will move the market. Because looking at forexfactory i couldn't see any indication that there will be Brexit news this week.

AwesomeDuru:
This is actually heartbreaking how come not even a single person gave any of us a heads up on the Brexit vote this week? Too bad. I didn't even know about it. I was stuck with my technical analysis only to be rubbished by this. My account that was comfortably sitting at $102 as at yesterday, has now been reduced to $58. This is too sad. I'm very very heartbroken to even do anything anymore. Feels like failure from here
Me too. I didn't even see it. Smh. This is so sad.

AwesomeDuru:
This is actually heartbreaking how come not even a single person gave any of us a heads up on the Brexit vote this week? Too bad. I didn't even know about it. I was stuck with my technical analysis only to be rubbished by this. My account that was comfortably sitting at $102 as at yesterday, has now been reduced to $58. This is too sad. I'm very very heartbroken to even do anything anymore. Feels like failure from here
Me too. I didn't even see it. Smh. This is so sad.

PJAMES1:
I have learnt my lessons about news and major economic events. Best thing is just to stay out. Protect your capital.

AwesomeDuru:
This is actually heartbreaking how come not even a single person gave any of us a heads up on the Brexit vote this week? Too bad. I didn't even know about it. I was stuck with my technical analysis only to be rubbished by this. My account that was comfortably sitting at $102 as at yesterday, has now been reduced to $58. This is too sad. I'm very very heartbroken to even do anything anymore. Feels like failure from here
Me too. I didn't even see it. Smh. This is so sad.

Shevychen2:

Or just take positions based on your strategy and allow your stop loss do its job if you are wrong. Volatility is the lifeblood of the forex market. We shouldn't be avoiding it. Between February 18 and now, GJ for example has done 600 pips up, 400 pips down, and now 400 pips up again. GU has done 400, 300, 300. All without any huge spikes. It is an opportunity if anything.

Got a few positions myself that I will lock in partly before US session and allow the market do whatever it wants.