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Forex Trade Alerts: Season 20 - Business (617) - Nairaland

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Re: Forex Trade Alerts: Season 20 by jbutney(f): 8:41pm On Nov 16, 2020
IMAliyu:
It's metatrader4, you click the option you use to add trendlines and such.
thanks.. I've seen it
Re: Forex Trade Alerts: Season 20 by Crixxx: 10:14pm On Nov 16, 2020
Looking for a continuation to the sell side

1 Like

Re: Forex Trade Alerts: Season 20 by Nobody: 10:49pm On Nov 16, 2020
I don't know much about the brokers Naija traders use, or brokers that accept Nigerian residents. The people here should be able to advise on what broker they use: I have seen people here use fbs, octafx, fxtm but I can't vouch for any; visit their sites, read about them, and chat the supports.

When you surf their websites, chatting support etc, find answers to the following and compare them based on the answers you get:
1. Do you offer 1:100 leverage or 1:200 leverage max (I would still prefer 1:100)
2. Method of deposit and withdrawal (Here, you are looking for fewer fees/charge, instant processing, flexibility/ease)
3. Margin call % and Closeout %, margin requirements
4. What type of broker are they: NDD (No dealing desk), ECN, Market maker.
5. Fees like swap, commission, and spread tightness.
6. Regulations, are they regulated, under what are they regulated, are you able to find them on the regulatory body using their license number?

Compare all of these, find reviews about them on forums like forexpeacearmy, forexfactory, etc.

As for the $100 live, leverage and lot size: After you finalize with the broker you like to settle with, open a $100 demo account with the same broker, select nothing more than 1:100 leverage, and don't go beyond lot 0.01 at a time. Try to manage this account for 3months, whatever your experience is by the end of the third month becomes similar to what to expect with the broker when you finally open the live account with them.

I don't think it is the right time for you to go live.


TAGM:

I am thinking of opening a live account. Please which is the best broker here? is there ecn broker? learnt they good.
I've got approximately an equivalent of 100 dollars, what leverage and lot size would you advice?

3 Likes

Re: Forex Trade Alerts: Season 20 by TAGM(m): 5:16am On Nov 17, 2020
Pipsbasketings:
I don't know much about the brokers Naija traders use, or brokers that accept Nigerian residents. The people here should be able to advise on what broker they use: I have seen people here use fbs, octafx, fxtm but I can't vouch for any; visit their sites, read about them, and chat the supports.

When you surf their websites, chatting support etc, find answers to the following and compare them based on the answers you get:
1. Do you offer 1:100 leverage or 1:200 leverage max (I would still prefer 1:100)
2. Method of deposit and withdrawal (Here, you are looking for fewer fees/charge, instant processing, flexibility/ease)
3. Margin call % and Closeout %, margin requirements
4. What type of broker are they: NDD (No dealing desk), ECN, Market maker.
5. Fees like swap, commission, and spread tightness.
6. Regulations, are they regulated, under what are they regulated, are you able to find them on the regulatory body using their license number?

Compare all of these, find reviews about them on forums like forexpeacearmy, forexfactory, etc.

As for the $100 live, leverage and lot size: After you finalize with the broker you like to settle with, open a $100 demo account with the same broker, select nothing more than 1:100 leverage, and don't go beyond lot 0.01 at a time. Try to manage this account for 3months, whatever your experience is by the end of the third month becomes similar to what to expect with the broker when you finally open the live account with them.

I don't think it is the right time for you to go live.



Thanks very boss.
Re: Forex Trade Alerts: Season 20 by ogashman(m): 12:02pm On Nov 17, 2020
This place is too quiet for a while


Markets have been ranging since yday with no specific direction.

I was even thinking things would take a new turn as at London open but we still have a sleepy market.


Waiting to see what happens at New York open

If noti might exit all my yesterday's positions either in profit or loss

3 Likes

Re: Forex Trade Alerts: Season 20 by Nobody: 12:32pm On Nov 17, 2020
Trading becomes boring when markets range

1 Like

Re: Forex Trade Alerts: Season 20 by hidhrhis(m): 12:43pm On Nov 17, 2020
i was even thinking maybe im having issues with luck cos all the trade ive being entering for days now have being ranging not knowing it is a general problem
had to close this two pair(CHFJPY,EURJPY)
Re: Forex Trade Alerts: Season 20 by TAGM(m): 12:57pm On Nov 17, 2020
shocked
Re: Forex Trade Alerts: Season 20 by Sunnycliff(m): 2:55pm On Nov 17, 2020
hidhrhis:
i was even thinking maybe im having issues with luck cos all the trade ive being entering for days now have being ranging not knowing it is a general problem
had to close this two pair(CHFJPY,EURJPY)

Crude Oil, Natural Gas are not ranging. Natural gas is still bearish

1 Like

Re: Forex Trade Alerts: Season 20 by WallStreetfx(m): 3:13pm On Nov 17, 2020
USDJPy: Waiting for bullish pattern to develop at that blue zone(104.17) for a good long. That could also trigger all JPy pairs for weakness.

Happy ranging market grin

USDCHf sell pumping pips grin

Edited

Re: Forex Trade Alerts: Season 20 by TheYoda: 3:58pm On Nov 17, 2020
My view , waiting for double top, double bottom to enter.
No entry without it, even better when it comes with rejection candles.

Re: Forex Trade Alerts: Season 20 by TAGM(m): 4:14pm On Nov 17, 2020
WallStreetfx:
Waiting for bullish pattern to develop at that blue zone(104.17) for a good long. That could also trigger all JPy pairs for weakness.

Happy ranging market grin

USDCHf sell pumping pips grin

Edited

wow you've got it
Re: Forex Trade Alerts: Season 20 by meshpips(m): 4:37pm On Nov 17, 2020
Cable here.

Expecting 1.3130 or slightly lower

Re: Forex Trade Alerts: Season 20 by meshpips(m): 4:40pm On Nov 17, 2020
I already did 42 pips on its way up today.

Re: Forex Trade Alerts: Season 20 by hidhrhis(m): 6:20pm On Nov 17, 2020
is there any reason for the ranging market for some days now coc this consolidation is kinda infuriating
Re: Forex Trade Alerts: Season 20 by WallStreetfx(m): 6:24pm On Nov 17, 2020
hidhrhis:
is there any reason for the ranging market for some days now coc this consolidation is kinda infuriating

I swear, price go move 40 pips in your favour before u comeback you will see price playing at your entry point.
Re: Forex Trade Alerts: Season 20 by hidhrhis(m): 6:33pm On Nov 17, 2020
WallStreetfx:


I swear, price go move 40 pips in your favour before u comeback you will see price playing at your entry point.
bro d thing just tire me
Re: Forex Trade Alerts: Season 20 by WallStreetfx(m): 6:35pm On Nov 17, 2020
May be be all this high impact fundamentals can serve as catalyst for price to either hit Tp or sl. Let see

2 Likes

Re: Forex Trade Alerts: Season 20 by TheYoda: 8:12pm On Nov 17, 2020
TheYoda:
My view , waiting for double top, double bottom to enter.
No entry without it, even better when it comes with rejection candles.
empty trap

Re: Forex Trade Alerts: Season 20 by TheYoda: 8:13pm On Nov 17, 2020
TheYoda:
My view , waiting for double top, double bottom to enter.
No entry without it, even better when it comes with rejection candles.
Expected pattern/ trap

Re: Forex Trade Alerts: Season 20 by IMAliyu(m): 9:46pm On Nov 17, 2020
I see a possible short on AUDUSD
Re: Forex Trade Alerts: Season 20 by friend2Macron: 10:16pm On Nov 17, 2020
IMAliyu:
I see a possible short on AUDUSD

I took this position about 4hrs ago and it's currently moving against me. Maybe I entered too early
Re: Forex Trade Alerts: Season 20 by IMAliyu(m): 11:12pm On Nov 17, 2020
friend2Macron:


I took this position about 4hrs ago and it's currently moving against me. Maybe I entered too early
it's been ranging with me also, got in at 0.73010
Re: Forex Trade Alerts: Season 20 by meshpips(m): 1:32am On Nov 18, 2020
IMAliyu:

it's been ranging with me also, got in at 0.73010

0.7272 or slightly lower should be good for a buy back to 0.7311

When/if it gets back to 0.7311 I can then take sell positions

2 Likes

Re: Forex Trade Alerts: Season 20 by Nobody: 5:10am On Nov 18, 2020
EJ Analysis Continues - For Learning Purpose ONLY


No. 2 played out, now 1 is playing out: Reason I placed 0% Buy 65% Sell and 35% Range

Though the short started 8hours ago, you can still short with 55pips SL, TP about 150 pips or even more

1 Like

Re: Forex Trade Alerts: Season 20 by Theyoungmaster(m): 6:15am On Nov 18, 2020
Pipsbasketings:
EJ Analysis Continues - For Learning Purpose ONLY

See previous analysis on EJ (quoted below for quick reference), then follow up with this.

Attached picture is a detailed analysis of EJ, better in pictures than words. From previous analysis, No. 2 played out, now 1 is playing out: Reason I placed 0% Buy 65% Sell and 35% Range

Though the short started 8hours ago, you can still short with 55pips SL, TP about 150 pips or even more

Note: If you are in the contest, ignore this analysis (it may ruin your contest account or automatically disqualifies you grin grin grin )
Shout out to @Donvic4u, this is for you: Seest thou a man diligent in his business? he shall stand before kings; he shall not stand before mean men. I see your handwork, keep it up...I'm proud of you kiss kiss kiss




The way you analyze though. I cut cap for you sir
Re: Forex Trade Alerts: Season 20 by Donvic4u(m): 7:49am On Nov 18, 2020
Theyoungmaster:


The way you analyze though. I cut cap for you sir

Thanks boss
Re: Forex Trade Alerts: Season 20 by WallStreetfx(m): 9:01am On Nov 18, 2020
.
Re: Forex Trade Alerts: Season 20 by WallStreetfx(m): 9:03am On Nov 18, 2020
EURJPy: Let's see whether blue support will hold to complete inverted head and shoulder pattern. If it doesn't hold we move. Trading is reacting not predicting

1 Like

Re: Forex Trade Alerts: Season 20 by ichidodo: 9:33am On Nov 18, 2020
My money don hang for Cad/Jpy since yesterday afternoon...Chei who send me?..

2 Likes

Re: Forex Trade Alerts: Season 20 by giddy2019(m): 10:57am On Nov 18, 2020
WallStreetfx:
EURJPy: Let's see whether blue support will hold to complete inverted head and shoulder pattern. If it doesn't hold we move. Trading is reacting not predicting
ahhh
baba come and teach me fx now
Re: Forex Trade Alerts: Season 20 by giddy2019(m): 10:58am On Nov 18, 2020
meshpips:
I already did 42 pips on its way up today.
baba com and taech FC now

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