₦airaland Forum

Ogboraph:
Thanks bros

Walahi I miss ogboraph
Like play like play this 1k dols fit go turn to
20k dols ooo
We would be here watching sha

Lets sell GBP/JPY
@ 190.72
as far as it stays below 193.50 from the daily
its safe for me to sell
but in case the see does not happen immediately
am entering with half of my normal lot size
if it goes 100 pips upwards i would enter another sell
with the remaining half of my lot size

Take Profit.. OPEN

Final stop loss : 193.50

This is going to be a long term trade
most likely till this weekend

Morning Bosses
Weekend is over
Let's face business
And make some real money

Na me that GJ pain pass sha

And please anyone that wants to leave can just leave quitely
No need screaming "am leaving, am leaving"

pippimp:
I see that FTA has not changed one bit. My reasons for not posting for almost two years is somewhat justified. I miss the group that was in season 1. We used to have constructive and enlightened discussions. Now the thread is filled with con men...wannabes and boastful traders. It is also funny how many monikers have disappeared permanently over the years. hmmm. Word of advice to the newbies; you don't need a forum to be successful in forex. All you'll get is confusion. Learn the way things are meant to be learnt. Read articles...practise on demo....find a mentor who will tutor you one on one. If a trader is always shouting about how many pips they made on one trade, then that tells you the trader is still learning or is a failure. I know this for a fact. One trade they are jumping for joy when the next twenty might be losses. That is where traders fail. They don't know how to manage those twenty losses. They run out of money before the next trend. If you are smart you would have realised I have just given you the secret to forex. See you all in another two years.

p.s. No one on earth can predict the direction of price. You can guess though. Or, you can follow it and hopefully make money from it.

You have spoken well
But assuming everyone decided to leave the
Way you left earlier, you would not see anywhere to post in d past few days
But you see Forex trade alert is dynamic
People go, other people come
The thread moves on
We are here to encourage eachother, discuss the market, give trade calls so others can compare with
However there are some people that have other motives of misleading newbies using here as their platform
But me and a few of others hav made here uncomfortable for such people
So naturaally there wud be arguements and counter-arguements, but if our goal is achieved in the long run, then I believe that is the beauty of the thread

Is it just me...
I might be wrong though but
Infinityandzero and kirinwa looks like the same
Kind of person with different moniker

Una well done ooo
For me I would say holy grail is a state of the mind

naijababe:
Whoever is holding GJ should release it now

Mama I done close shope for the week
Dis past week get as e be
Hope next week would be better

Karlebolu:
Remember the chicken(SNB debacle).

That's why am not using my normal lot size
And that's why this particular trade is like a bet(gamble) to me
So I would take anything it gives in good faith

iheanyiebeneze:
According to ICHIMOKU CLOUD, GBPJPY is still a SELL, sell and sell to 191.00,

You hv re-assured me of my GJ selll
Would close half nd leave the rest to run

With what am seeing on GU
Too juicy to ignore
Sold @ 1.5589
This trade is more like a bet to me
Small lot size
TP nd SL open
Let me see how it plays

iheanyiebeneze:
USDJPY has been overstreghched , so i expect some consolidation at 123.00 before the next move to 125.00 Lets see how the NFP will play out in few minutes.

My eyes r glued to the screen

sympathy55:
broda abeg look for a nice pair with a good setup. GJ no well for now.

As in ehhh, e no well at all
E done take me do yeye dis week
No be smalll

seyejohn94:
Don't forget we have nfp today.... Watch ur trades....

Not in any trade for now....

Nothing is guaranteed....
Happy trading....

See me ooo,
I done forget
12pm wud take whatever is on the table
Good or bad

naijababe:
I know, GU did well today, God knows what is holding GJ

Definitely before friday afternoon
It must hav chosen a specific direction
And you know when g/j start him own madness
Na 200 pips and above e dey vomit
I jus hope am on the right side sha

harizonal123:
How to Distinguish Between Market Maker and True ECN/STP Brokers
There are so many articles about brokers, market maker and ECN/STP brokers, liquidity providers and… already published on this site. Although I believe novice traders can read those articles and learn about these important topics, still it seems one more article is needed to explain how to differentiate a market maker from an ECN/STP one.

In the past, most traders knew nothing about the market maker and dealing desk topics, and also true ECN/STP brokers. But now that traders have learned what these systems are, they insist to open their live accounts with true ECN/STP brokers. This has caused many of the market maker brokers to pretend to be an ECN/STP broker, whereas they are market makers behind the scene. How can you verify this before you open a live account with the broker?

Before I answer this question, please let me give a short explanation about market maker and ECN/STP systems. As I mentioned, there are detailed articles on this topic on FxKeys that you can read to learn more.

When you open a live account with a market maker broker, indeed you are trading with the broker, not with the real world wide currency market. The market is the broker itself. Although the currency pairs prices are almost the same as the other brokers, on a market maker platform, your orders never go beyond the brokers computers and you trade inside the brokerage firm. So, if you make profit, the broker has to pay it. And, the money you lose goes to the broker’s pocket. It means your profit is the broker’s loss, and visa versa. Read this article to know how a market maker broker makes money: Market Maker Brokers: Is It Bad or Illegal to Be a Market Maker?

Unlike market maker brokers, true ECN/STP brokers just route your orders to the banks that are also known as liquidity providers. They just connect the platform you install on your computer to the liquidity providers computers. They charge you some fees to do that, but they don’t make any money from your losses, nor they lose if you make profit. Read this article to learn about liquidity providers and the way they make money: How Do the Liquidity Providers Make Money and Are They Market Maker?

A market maker broker doesn’t become happy if you make profit. A consistently profitable trader is their biggest enemy, because the profit he makes has to be paid from their pocket. Although more than 95% of the traders lose on their own and the broker doesn’t have to make them lose, still most market maker brokers do their best to make the clients lose easier and earn harder. There are some ways to do that: 6 Ways Forex Brokers Cheat You

Unlike market maker brokers, true ECN/STP brokers don’t bother to make the traders lose, because it doesn’t make any difference for them. Indeed, most of them even help their clients to make profit and grow their accounts, because they will stay with the broker longer and will make bigger positions, and this means more money for the broker too.

Therefore, traders prefer to open their accounts with true ECN/STP brokers, because they don’t want to be cheated by the market maker brokers. The problem is, nowadays many market maker brokers claim to be an ECN/STP broker. Some of them even transfer your orders to a so called liquidity provider, but the problem is the liquidity provider is either another market maker brokerage belonged to the same company or a sister company, or, it is a poor bank somewhere in the Pacific ocean.

That is why I use the term “True ECN/STP” because there are “False ECN/STP” brokers too.

It is not bad and illegal to be a market maker broker. What is bad (or maybe illegal depend on who writes the rules) is trying to make the traders lose. Market maker brokers can make a decent amount of money because more than 95% of the traders lose on their own without having to make them lose. They even lose with the demo accounts too. However, the problem comes when market maker brokers get greedy and try to make more money within a shorter time. So they manipulate all traders’ positions, no matter if they are winning or losing traders. Of course, they do their best to stop the winning traders and make them close their account and leave.



The reason is that past performance is not a guarantee of future results. Even if a broker has been doing good for years, they can change overnight and start cheating their clients, and we will be accused as the referrer too. So, although it makes a lot of money, we prefer not to enter such a game at all. However, still we can educate people to enable them to distinguish between bad (market maker) and good (true ecn/stp) brokers, so they can easily choose a good broker to open their live accounts with, when they are ready to.

The Differences of Market Maker and True ECN/STP Brokers
Fortunately it is not that hard to distinguish between market maker and true ecn/stp brokers, even before opening a live account with them. There are some signs that you have to follow and come to this conclusion whether the broker is a market maker, false ECN/STP or true ECN/STP.

1. Spread
Traders like to pay less spread to make more profit. So, there is a competition among brokers to offer the lowest possible spread to attract more traders. Market maker brokers have full control on the spread. They can offer even zero spread, because everything can be set at their side. False ECN/STP brokers can do that also, because their liquidity providers are usually under their control too. True ECN/STP brokers have no control on the spread, because it is the liquidity provider that charges the spread. True ECN/STP brokers can add markups to the spread, but they cannot take it below what the liquidity providers offer.

Therefore, all the brokers who offer a fixed or zero spread are market makers. This is the first signal you have to notice. Spread cannot be fixed on the real currency market.

Also, brokers that offer higher than usual spreads are market makers, because nowadays liquidity providers offer very low spread. For example, EUR/USD spread is sometimes even below 0.6 pips. So, a broker that offers the minimum spread of 2 pips or higher for EUR/USD, is either market maker or a cheater ECN/STP that has added to the spread without informing the clients.

Commission is the only known legal way for the ECN/STP brokers to make money. Markups and adding to the spread is fraud.

2. Swap
Swap can also be fully controlled by market maker brokers. Indeed, market maker brokers can control everything, from the price, to spread, swap, market open/close time and… .

If a broker is offering a swap free account, it is a market maker broker definitely. There is no real liquidity provider that doesn’t charge any swap. It is one of their sources of income that they cannot ignore, because they also have to pay it to the other dealer and organizations they are dealing with.

Also, when swap is exceptionally high or low, the broker is market maker.

Please note that although swap has a special formula that uses the same interest rate for calculations, different liquidity providers offer different swap, because they can control it.

3. Lot size:
I have never seen a real, well-known and strong liquidity provider like Bank of America, Nomura, Goldman Sachs, Deutsche Bank, Citi Bank, JP Morgan, Royal Bank, HSBC and… that supports micro-lots (0.01). Therefore, brokers that offer micro-lots are either market maker, or false ECN/STP.

4. Leverage:
100:1 is the maximum leverage that well-known and strong liquidity providers support. Therefore, all brokers that offer a higher leverage are either market maker or false ECN/STP.

Another thing about leverage is that some brokers lower the leverage on weekends. They say they do it to protect the clients funds, whereas this is nonsense. They do it to make all the accounts that have negative positions, reach the stop out level and get wiped out. Any broker that changes the leverage is market maker or a false ECN/STP.

Those are the most important factors that you have to check with the brokers. Hope I have not missed anything here. Please let me know if there is anything else that I have to explain.

Update Apr 07, 2015:

FxKeys followers comments made me remember some other factors that help you to distinguish between market maker and true ECN/STP brokers:

5. Scalping:
True ECN/STP brokers don’t care how you trade and make money and how early you close your positions. They allow you to scalp and you can do it if the markets allow you to. You can use scalping robots on your platform with true ECN/STP brokers. But market maker brokers are against scalping, because they don’t want you to make small profits. Therefore, they make limits on taking profit and closing the positions. They don’t allow you to close your positions too fast. When you see such limits, you should know that you are dealing with a market maker broker.

6. Stop Loss, Target and Trailing Stop Loss:
Market maker brokers have limits on stop loss, target and trailing stop loss size. They don’t allow you to set them too tight. But true ECN/STP brokers don’t care about these things at all.

7. Bonus
Bonus is another important sign that the broker is a true market maker!

I see that some brokers offer even a 50% bonus. Do you think a true ECN/STP broker who only makes money through commissions can afford to do this? They cannot afford it even if they make extra money through markups.

Stay away from the brokers who offer free bonus. They do it to attract small retail traders who don’t have enough money to open a reasonable account. And, they know that greed will make these trader to lose all. Losing the bonus doesn’t hurt the broker, because it is nothing but a number for a market maker broker. It is only the trader who loses his capital.

8. Negative Balance Protection
It is another trick by some market maker brokers. A true ECN/STP broker deals with real money. If a huge and sudden price movement occurs like the 15th Jan CHF Tsunami, and traders accounts go to negative balance because of having no stop loss or because the stop loss orders could not be triggered, then it is the traders responsibility to pay for the negative balance. It is your account and you are the one who have lost money, because of the currency you have been trading.

However, I have never seen that brokers prosecute retail traders for their negative balance, because if they say in advance that it is the trader who has to pay for a negative balance, then no trader dares to sign up for an account, because not only you can lose your trading capital, but you have to pay extra for the negative balance. As far as I know, true ECN/STP brokers take the responsibility themselves and pay the negative balance to the liquidity providers. They have to shut down the brokerage if they cannot do it, and they are the one who will be prosecuted by the liquidity providers.

With the market maker brokers, a billion dollar negative balance on a live account is the same as a billion dollar loss on a demo account. Do you pay any money to the broker when you blow up your demo account? Definitely not. You just sign up for another demo account. Then why do some market maker broker offer “negative balance protection”?

This is to deceive the traders. They want the traders to feel safe. Traders don’t know what is behind the scene. So, they prefer to sign up for an account with a broker that offers negative balance protection, whereas they don’t know that such a broker is a market maker who makes them lose, but the other broker who cannot offer negative balance protection is a true ECN/STP that becomes even happier if the clients make money.
www.fxkeys.com/how-to-distinguish-between-market-maker-and-true-ecnstp-brokers/

After all dis many talk na only one "like"
Chei FTA people una wicked sha ooo

naijababe:
Mixed trade for you there. I sold GJ again, I guess it will probably do something crazy tomorrow or Friday. Either way, me sef don close eye sell the thing again jare. Make e do wetin hin wan do

The EJ deceived me with this morning's move
Though I was making some pips initially, but I manually closed it in negative
GU made me smile
Still holding my GJ sell

Bought ej
Sold gu

walahi GJ this is one of those trades that has kept me on my toes this period
but i would rather stick with the bears
final SL at 194.50
anything wey one happen make e happen

#GhostMode

naijababe:
That son of a b1tch is not going down, red line is May's high, that's the third bounce near it this week. I am closing my short and going long. See you on the other side

chaaaaaiiiii
while men slept...

I hardly trade at night
because in the past it makes me enter more positions,

but i guess every advantage has its own disadvantage

Let me to my analysis
to know if i would be joining the bulls with u

currentprice:
welcome back Tom29,,,, i miss you

You must have a reason for calling this guy
Tom29
Oya na enlighten us

naijababe:
No fall my hand o, that nucca must reach 188.xx and you better be present all the way. No getting off the bus on the way

Hehehehh I dey with u gidigba
But I go leave you for 190.5x, make
E no be like say I go wan chop too much

Shevychen2:
Just came in to see I was stopped on EJ at +4 after narrowly missing TP by 2 pips.
Closed GJ at +20 abeg.
Moved EN to BE..

At all at all bad pass.

GJ is still going to fall
its just testing people's patience

Mr market please i need one anaconda move for this GJ
this trade done too dey take time, haba

naijababe:
How many pairs do you trade, can see you don't do the majors?

hope you still holding your GJ sell ?

naijababe:
all things being equal, 193.49 is a huge barrier, if it breaks and closes above it, I close my sell and buy instead.

For me I wud be looking at 194.05
If it breaks it, I stand aside
But it relly needs a good push for it to do that

naijababe:
If this sell works, you should be looking to tp around 188.xx, have a sell position too but heck anything can happen

Hmmm 188.xx
Babe u dey see far oo
Anything wey make am mistakenly touch 190.xx
I done rush close the trade
But from what am seeing on the hourly chart, the sell done dey fear me small small sha
But I would still leave the trade
I no want wetin do me on friday repeat itself again

selling GJ asap
SL: 100 pips
TP; 200 pips

Forex is jus simply up and down,
Boy as simple as dis sounds, it is very complicated
The holy grail is just sound money management

naijababe:
Una do well o, make i comot before dem chop everything finish

I done run commot since
As in the U-turn ehhh, no be here
But when this fall happens eventually, its going to be massive
And I would not want to miss it

raycolz84:
sold GJ at 194.30
ST; 50 pips
TP; Open

my EJ sell from yesterday still active

Stop hit
I don't like what I am seeing on the daily
196.Xx. Might just be possible
But I wud rather stand aside and watch

naijababe:
Abeg o, make una helep push down the jpy, y'all should help a sister out

heheheheheh okay madam
make i add another add another trade to GJ
to help push the ministry