Let's secure profits as soon as we can, until we have the fundamentalist tired of all these choppiness they are causing.

saxy4c:
Ok got a 5M close at 1700.Gold is now a buy at 1698 Tp 1730 Sl 1694

An Idea

I have an idea for a forex competition to help those beginners that need trading funds. The first part being consistency in their trading strategy and sticking to it throughout the duration of the trial.

The Trial

A forex demo trading competition.

Everyone starts with a trading account of $10,000 which is coincidentally similar to a $100 account in cents (more on this later).

Contest starts and runs for the last two weeks of each month.

Awarding the prize

Winner is the trader with the highest ROI or highest balance since all accounts start with the same amount.

At the end of the contest, the highest ranked trader will give me a report of his/her trading strategy and I will authenticate that ALL trades made conform to the trading strategy. Any single off strategy trade will lead to disqualification and prize goes to the next highest ranked trader.


Prize is $100 or equivalent in naira paid into winner's Dom or Savings account. (I will see about raising this and increasing prize positions in coming months).

As an added bonus, I will automate the winning trading strategy into an expert advisor for the winner. I would advice winner should not sell it nor give it out (I will give recommendations on how to make more with it without giving out the farm). There truly is something called the law of diminishing returns.

Grounds For Disqualification

All gurus and pros are not entitled to participate. I would rather you add more to the prize pot. This also includes anyone who has dropped trading signals in any of the nairaland forex threads.

Any new nairaland account that was created from today ontowards is not entitled to participate.

A prize winner for a month is not entitled to a prize in the next immediate month.

The contest trading account should NOT have a drawdown more than 20% of the starting account balance. The concept is to ensure you will maintain money management rules so as not to blow the prize money in a swoop.

Conclusion

All interested participants should give me a mention while I work on setting up the demo contest (most likely on fxblue).

Wishing you well - Teemy

@teemy
I'm interested! That's if I count as a newbie tho.

Karleb:
@teemy

I'm interested! That's if I count as a newbie tho.

As long as you've not claimed to be a boss, you are qualified.

I will have another contest for the ogas later on.

.

teemy:
An Idea

I have an idea for a forex competition to help those beginners that need trading funds. The first part being consistency in their trading strategy and sticking to it throughout the duration of the trial.

The Trial

A forex demo trading competition.

Everyone starts with a trading account of $10,000 which is coincidentally similar to a $100 account in cents (more on this later).

Contest starts and runs for the last two weeks of each month.

Awarding the prize

Winner is the trader with the highest ROI or highest balance since all accounts start with the same amount.

At the end of the contest, the highest ranked trader will give me a report of his/her trading strategy and I will authenticate that ALL trades made conform to the trading strategy. Any single off strategy trade will lead to disqualification and prize goes to the next highest ranked trader.


Prize is $100 or equivalent in naira paid into winner's Dom or Savings account. (I will see about raising this and increasing prize positions in coming months).

As an added bonus, I will automate the winning trading strategy into an expert advisor for the winner. I would advice winner should not sell it nor give it out (I will give recommendations on how to make more with it without giving out the farm). There truly is something called the law of diminishing returns.

Grounds For Disqualification

All gurus and pros are not entitled to participate. I would rather you add more to the prize pot. This also includes anyone who has dropped trading signals in any of the nairaland forex threads.

Any new nairaland account that was created from today ontowards is not entitled to participate.

A prize winner for a month is not entitled to a prize in the next immediate month.

The contest trading account should NOT have a drawdown more than 20% of the starting account balance. The concept is to ensure you will maintain money management rules so as not to blow the prize money in a swoop.

Conclusion

All interested participants should give me a mention while I work on setting up the demo contest (most likely on fxblue).

Wishing you well - Teemy

Interested!

Mr market. Hummm

infofirst:
Mr market. Hummm

There is commotion everywhere.
Better to stay clear and watch.

Aud IS a bastard quote author=infofirst post=87282362]

There is commotion everywhere.
Better to stay clear and watch.[/quote]

Some pairs are better left for the institutional traders. Gn, GA, EA enzd just did clear manipulation in broad day or night. Damn moves.

infofirst:


There is commotion everywhere.
Better to stay clear and watch.

instead of staying clear, check if your system gives a signal and use a small lot

infofirst:
Some pairs are better left for the institutional traders. Gn, GA, EA enzd just did clear manipulation in broad day or night. Damn moves.

And the manipulation favoured me....I used my micro account ����

unclenna:
And the manipulation favoured me....����

Congratulations bro. It did not on my own side.

unclenna:
And the manipulation favoured me....I used my micro account ����

You are not in GA, gn, EA n enzd.. Those ones did over a 1000 pips in 15 mins or so

PipMarshall:



Not yet time to post charts for these.
We still have a long way to go..
Down is the way for XXXJPY.

When your system says sell.. It's likely to be correct.
I leave you with EURJPY chart.
We should see 116 and even lower.

Well..
Check all of them

infofirst:


Congratulations bro. It did not on my own side.

Thanks Sir

These are abnormal trading conditions.

Were stops honoured?

Just woke up and
Just seeing commotion everywhere on the charts.

Anyone caught on either sides of the moves?
Were stops or tps honoured

infofirst:


You are not in GA, gn, EA n enzd.. Those ones did over a 1000 pips in 15 mins or so

that's true. I say it but I had up to 6 trades already so I did not want to be greedy.

PipMarshall:

These are abnormal trading conditions.

Were stops honoured?

Nah. They did not. Even brokers highs were different.

Best to trade with minimal risk these times...

You don't have to leave positions over the weekend.
Don't overleverage.
Small positions.
These are abnormal trading conditions.

infofirst:


You are not in GA, gn, EA n enzd.. Those ones did over a 1000 pips in 15 mins or so

Those pairs are one of the craziest pairs. I like them cos they are volatile.

infofirst:


Nah. They did not. Even brokers highs were different.

Ehhh
This is scary.

The is very scary.

PipMarshall:

Best to trade with minimal risk these times...

You don't have to leave positions over the weekend.
Don't overleverage.
Small positions.
These are abnormal trading conditions.

You are very right Sir

PipMarshall:

Just woke up and
Just seeing commotion everywhere on the charts.

Anyone caught on either sides of the moves?
Were stops or tps honoured

This can give one a margin call

PipMarshall:


Ehhh
This is scary.

The is very scary.

Icmarkets high for gn is 21855, low is 2.0622 === over 1200+ pips.
For hotforex, gn high is 21568, low is 2.0622== 900 +pips

PipMarshall:
Technically, doesn't look good either..

If it doesn't bounce here.
35 USD per barrel might be the next stop.

It's hard seeing a bounce with all these fundamentals around it.

Well...
There it goes.

Many firms will be forced into liquidation by these moves.

infofirst:


Icmarkets high for gn is 21855, low is 2.0622 === over 1200+ pips.
For hotforex, gn high is 21568, low is 2.0622== 900 +pips

Tbh.
It's very scary.
I am seriously scared.
This is people's hard earned money.

Market surprised me really. I was not expecting gu to be where it is at the moment especially with eurgbp price. I expected gu to be at 1.26*** /1.25** with the current price of eurgbp.

Low risk is just better for now

PipMarshall:


Tbh.
It's very scary.
I am seriously scared.
This is people's hard earned money.

I am telling you bro. It took some bucks off me ehn. Some hard earned bucks.

PipMarshall:


https://www.bloomberg.com/amp/news/articles/2020-03-07/saudis-plan-big-oil-output-hike-beginning-all-out-price-war?sref=5F8Ao01j&__twitter_impression=true

Oil

Naira might be in trouble if OPEC and Russia does not agree soon on coordinated supply cuts.
What was the benchmark for our budget again?

So as a speculator..

I would advice folks, who can, to hold their money in dollars. Maybe in a domiciliary account or something.

Well.
It's alright.
I think Prices should go up again.
We should just hope naira has not collapsed before then.

US Oil output will be reduced, as the low prices will drive many US oil producers into liquidation.
Russia and OPEC should find an agreement, hopefully.

PipMarshall:


Well.
It's alright.
I think Prices should go up again.
We should just hope naira has not collapsed before then.

US Oil output will be reduced, as the low prices will drive many US oil producers into liquidity.
Russia and OPEC should find an agreement, hopefully.

Thief thief naija... Oil prices at gas stations in the USA are at all time low. Dropping everyday. Then no drop naija price for petrol until price shot up again. They will start crying subsidy again.