₦airaland Forum

Also imagine you just bought this clean 2016 MB C-class and after posting adverts for a driver the best candidate you saw had vdriven for 6 years on manual and automatic.
He resumes work Monday morning, shows you his drivers licences and you're now ready to go on your first drive with him. You are seated beside him in the passenger side and the first question he asks you is if the right or left pedal is the brake.
Only for you to realise he put "vdriving" [virtual driving on play station] on his CV and he only had a drivers license because he needed to open a bank account.

Would you still allow him test drive based on his virtual driving knowledge?

https://www.nairaland.com/5481332/robust-model-invest

https://www.myfxbook.com/members/acer111/theyoda2/3565076

Now this young man is soliciting for you guys to invest with him but he is showing you his past performance on a demo account. I wonder how anyone would see that and still go ahead to allow such an individual come even 100meters around your account. The decision is up to you and I now also understand why he feels everyone else's accounts is demo. What I can comfortably tell you, is that the owner of the benz has been driving past me daily for the past few weeks, it's like he doesn't need a driver again O! [I totally made up the story strictly for analogy purposes though ]

So one valuable lesson I would like us to be careful of is never to hand over money to anyone in the name of wanting to trade it for you. Anyone that insists you send money to them is most likely a fraud.

There are many ways you can have your funds managed for you and still have 100% access and security of your funds. Like PAMM or opening an account by yourself and give the details to a good manager to trade for you. The best is to follow someone with reliable trade setups and trade for yourself while you learn from their setups. A few are consistent here and I follow a few as a matter of fact.

You have no idea how joyous I was when the same person that wanted to give me an account to manage a couple of weeks ago [even though I insisted that he watches my trades first] comes to tell me last week that his trading has turned around and he was able to turn out some good profits from following the calls on here.
Those are the things I aim for, to make as many of us as possible a powerhouse on their own. I've been on both sides of this forex market, and if a kid like me could transform from being a serial loser to a not so bad trader now, then I'm certain we all can!

My brother learn to ignore this guy otherwise you'd follow him to your peril. He wants to enforce what, when all he can do is come here and post results of running trades. . You would wait for another 400 days before he produces any myfxbook of his trading. He sent me one myfxbook account some weeks back. The account has not been traded since I think August and their was no proof that he traded that account and resorted to trying to manipulate my mind.
He obviously didn't know it was me and I just decided to play along so I see how he convinced all these people to give him accounts that he has consistently blown. His win ration is 80% my behind!! Allow him spew his crap and ignore. He's talking about myfxbook that he hasn't been able to produce 80days after he stated he would, na wa

wamiikechukwu:
lead the way...

saxy4c:
Blah blah blah, if 40days after we haven't still seen this myfxbook result, why torment the poor chap when it's obvious what it is. I will continue to speak out against audio traders for reasons I'd explain at the right time.

meshpips:
I will be linking one account to myfxbook latest Friday.
From then on, everything that I do will become transparent for all to see.
My win rate is usually within the 80 -90 % region.

None that I know of, but I never mentioned it changes often. Very few times I may even say. USDCHF & EURUSD have been negatively correlated since I met forex about 10years ago. I suspect USDCHF got affected by all the turmoil generated by USA and deviated from pure technicals this year. The Swiss Franc, is a safe haven currency, when their is risk flight from the USD. Gold is also a safe Haven commodity. And since Australia is the largest producer of Gold in the world, when Gold moves up, the Australian currency gets strength and AUDUSD goes up and since NZDUSD is correlated to their Aussie neighbors, it moves up also.

Concurrently, the economy of Canada is fuelled largely by crude oil as they export almost 2m Barrels of oyel daily. So when oil prices go high, the CAD gets stronger agaisnt the USD and that means USDCAD goes down. I hope we are getting some enlightenment.

I'm attaching a formula to enable you calculate for any set of pairs but then you all know that I'm quite very against complicating issues in trading. It's not a factor you should look out for daily, just to make double sure that you're taking trades in the right direction at least. When I said I don't use indicators per say, i meant the ones on mt4. But things like corelated pairs are a strong indicator for me especially for trade exits.

MrUnder:
fantastic.
Any website to get daily correlation value, since it changes often.

Oga chicken have you not finished spending this money? Ever since you left, certain people have stopped taking their medications and have started showing some symptoms of their mental ailments again. Please save some of your cash so we can contribute and get them properly treated. No matter what, I know how the show of love to even your enemies can transform them. Your activity on here is missed brotherly.

redsox11:
Ok, come manage this money for me before infofirst show face

Thank you sir.

wiconse:
Nice one bro.

A very important factor in my trading is correlation. Before I take a trade I check if other pairs that are negatively correlated [moves in opposite direction of the pair I want to trade] or positively correlated,[moves in the same direction as my intended trading pair]. I use correlation to also hedge certain positions, especially when I'm running in loss on that trade.

You don't have to cram these correlations in your head. With time and constant trading it would just become a part of you. For example I can never buy the EurUsd and USdchf at same time. One would definitely hit sl as they are negatively correlated almost 100% of the time. But not all pairs keep their correlation though. Last year USDCAD and USDCHF were 100% correlated but this year it's been just about 25% of the time.

Another reason I use this method is because atimes a particular pair might be moving too slow for me so I add up a correlated pair that would help boost the results of the first trade. For example I buy AUDUSD for 100pips this night and by the time I wake up tomorrow, it's only giving me 5pips [NZDUSD & AUDUSD are also almost 100% corelated but their movement can be very frustrating sha]. I most probably would sell EURAUD [this pair is almost 100% inversely correlated to AUDUSD] in the morning to take advantage of the volatility of the EU session. Or buy AUDCAD

To be an effective trader and understand your exposure, it is important to understand how different currency pairs move in relation to each other. Some currency pairs move in tandem with each other, while others may be polar opposites. Learning about currency correlation helps traders manage their portfolios more appropriately. Regardless of your trading strategy. Now take a look at my past trades and try to figure why I combined certain pairs to trade. Hope this helps someone here.

Dow Jones got stopped at BE after going about 60pips in profits. A bit confused as to why indices and gold are rising at same time. Oh well, liquidity is very low at this time of the year and quite some abnormalities will happen. The market would always be correct, we just need to learn how to key in to it's moves.

saxy4c:
Sell DOWJONES 28280 SL 28350 TP 28080

Clear consice charts, nice work sir.

PipMarshall:
NZDJPY.

NZDJPY is riding on a one legged bicycle.
Let the trades come to you.
There will always be opportunities.


Note the unfilled gap on the weekly.

I am monitoring this one.

This got up to 140pips, holding trade for a couple more anticipated points.

saxy4c:
@pipnator10 @infofirst, I have made it with oil money!!! I am going to take a counter trade, I think I see something from here, I'm joining you @infofirst.

Close it with 80pips at 61.40.
Selling Oil 61.40 Sl 62.40 tp 56.40

Thanks a lot, the only place I'm going to is the next season by God's grace. More profits to us.

maryjames9:
Great job @saxy4c. You are really doing an incredible work here. Hoping to continue seeing more of these amiable analysis, calls and contributions here.

Funnily I used to think I couldn't teach, surprised you'd say this. I'm actually understanding certain things more as I look out to filter trades better so i try to shield you from excessive loss. So far I guess we're doing good, it can be better though. These times, the holiday period, are the worst times to trade in the year, then with the excessive political drama all around, any profits that can be made should be highly appreciated. Thank you for the kind words.

peteregwu:
True talk jare. I have met different kind of Forex traders that seems to be good but their shakara too much but this @saxy4c is just given it out and at the same teaching it. They would be jealous of him if they see him doing this as a hobby. More Forex skill to you sir @saxy4c

Probably should use the messaging function here.

ogashman:
I don't mind u adding me on WhatsApp .
Will be waiting for ur reply.

Too much for me, but I'm only inspired to do more. You're doing a great job as well, with your dedication to learn and make progress, you would only get better.

Ummuaisha:
Saxy4c is an angel in human form, just on this platform we met and ever since he had offered to help me he had never demand a dime from me, I wish I open a live acct next month, but he advised I start now, I opened this acct on Friday and with his efforts and guidance the acct is wonderfully growing, everyone make loss in forex but only ensure your profit exceed loss, I traded the acct for two days and has 60% profit.

Thanks for the commendation, I'm also learning and ready to fine tune my methods to enable me sustain my trading for the long run. Keep inspiring us to attain financial dominance. Definitely would have no time for the naysayers. Enjoy your holidays.

Shevychen2:
Oga trust me, I no get anything wey you wan learn Your risk profile dey make me squeeze face but as long as it works for you, fire on. Finding a strategy that works is the majority of the hard work in trading and you seem to have nailed that down.
Anytime sir.

I've actually learnt a bit from you as well, quite valuable lessons to enable me secure profits and build accounts. We'd do stuff in time to come. I remain humble in the course.

infofirst:
Sincerely it is not easy and truly there is need to be mindful but it shd be done with some form of humility.
Life of we retail trader, we die there till December 31. Hopefully next year, I will close shop earlier too. The energy @saxy4c brought into my trading is amazing already. Can't wait to do better next year. @saxy4c unleash Abi ignite the sleeping giant in me.. Thanks for your checks at intervals too. I appreciate and God bless you.

Thanks so much, we would do this together. One day we'd all look back and laugh at all the foolishness of those that wanted to use us.

Ummuaisha:
@infofirst and @Saxy4c you too much jare.

To check what exactly?

meshpips:
Bros, go back go read from season 10 or 11

It's indeed a huge responsibility for me being placed on such a pedestal. Insha Allah I'm actually getting better sharing my trades and the results thereof.
It's more of my revenge for all those that either sold me useless systems for exorbitant amounts, or told me they didn't learn the system for free so I had to pay them to teach me or if you don't pay for signals, you won't trade them religiously blah blah yoda yoda

The truth is if anyone is making money from forex,they would even give out more. No one loses anything by showing others how to tap from a market with deep resources. Your broker won't manipulate your orders because you shared it with others, so why all these theories about not sharing?

I remember one of my chief persecutors here who mentioned he'd update his journal often and then later on open a paid group. I never see up to a few updates since weeks ago, the truth is it isn't easy to carry people along, it's a committment I've made. So by God's grace, with your prayers, goodwill and support, we would get an alternate means of income.

peteregwu:
Pls guys for the hood of all, id you dont know how to give signal but just drop any garbage for people to trade, don't do it pls. Allow those that knows how to read the market and give good signals do the work while you learn. Am a newbie, sometimes I trade on mb own at my own risk too. But I also depend on most of the signals from @saxy4c and other good Forex traders. So, everyone got to know his level. Thanks.

If you'd listen to me, never accept any bonus or those offers. It would always turn around to bite you in the butt. ALWAYS. Use your 20usd to trade instead. I'm coming up with a plan, share with you guys in a bit.

Gogetta:
Thank you. How about their 100% deposit bonus?

Tell them.

Ummuaisha:
Hotforex is okay, just go for zero spread acct, but the least you can open the acct with is 60k, your deposit is almost instant under 5min your acct has been funded, withdraw is second day.

Dear brother this topic has been extensively flogged.Just read past posts. I've read through Seasons 17 and 18 since I joined here a few weeks back, i can tell you a thing or two about a few here already. @Ummuaisha no need today oh.
I use HF by the way.

Gogetta:
Hello Traders, please which Fx broker would you recommend; Ecn with little or no issues. I am leaning towards IC markets and Hotforex, but would appreciate your opinions. Also, has anyone ever benefited from the Hotforex 100% bonus? Is it real/any good? Thanks.

It's amazing how a wuruwuru trader would give such amazing advice . I would reiterate that trading IS ALL A MIND THING. The moment I STOPPED BEING AFRAID, [either to follow my analysis and take the trade, or hold my trades to where it ought to go], that's when I started to make profits and it hasn't changed since then!

PipMarshall:
You can learn this thing your self.

This thing isn't that hard.. You will find out that at the end of the day, the psychology and money management is probably more important than technicals. And that comes to you from experience and trading.

Eurnzd, 160 pips loss on all 3 entries, as much as i try to anticipate loss, the thing still dey pain, let's focus on winning more than loss. We'd recover together.

saxy4c:
Adding to buy here at 6830 and setting a buy limit at 6805. Sl for all 6775 Got some faith in this setup.

Seemed to have gotten out of the buy at a good time eaten 80pips on the oil buy now sell is giving another 80pips, looking for 100s of pips on this one, let's see how much further it goes. Secure your trades!

saxy4c:
@pipnator10 @infofirst, I have made it with oil money!!! I am going to take a counter trade, I think I see something from here, I'm joining you @infofirst.

Close it with 80pips at 61.40.

Selling Oil 61.40
Sl 62.40 tp 56.40

This entry is up 20 pips, not bad for a 30pips 3% risk. Moving stop up to 20pips risk only. Let's manage trade accordingly.
Heavy news coming up at 2.30. Securing all trades to the sl of my last entry.

saxy4c:
Ok I'm tempted to make a home run on this gold. This is the riskiest point to join in this rally but it's worth the low risk here.

Buying gold 1477 sl 1473 tp 1500

Adding to buy here at 6830 and setting a buy limit at 6805. Sl for all 6775 Got some faith in this setup.

saxy4c:
So this trade has taken me out at BE after 69pips up. Trying one more time Buy at 6850 sl 6780 tp open.

Ok I'm tempted to make a home run on this gold. This is the riskiest point to join in this rally but it's worth the low risk here.

Buying gold 1477 sl 1473 tp 1500.

saxy4c:
The last gold call is up 80pips, the other 2 are up 50 and 150pips respectively. 280pips cumulative isn't bad for the small risks we put on gold.

I should have gotten up earlier to join this, still taking from my point. Hopefully it's a good ride. Thanks.

PipMarshall:
I think a good time to buy is Now!!
Looks like it's forming a base.
Going long at CMP.
Stop.. 80 pips.

Let's see what happens

Even the best setups fail. Don't forget to trade responsibly.

Usdchf buy limit triggered overnight and is up 20pips now. Enjoy.

saxy4c:
USDChf buy limit @ 0.97860
SL : 0.97560
TP : 0.99460

usdcad buying 1.3145
sl 1.31057
Tp open

So this trade has taken me out at BE after 69pips up. Trying one more time Buy at 6850 sl 6780 tp open.

saxy4c:
On EURNZD 1.6870 is where I'm buying sl is 1.6830 tp is 800pips. That is if you risk $100 on this the reward could be $4000 around March. Mark this post incase it plays out so you can update stops.

[quote author=Edd1e post=83750793 Babypips won't help you, what you do afterwards will. Read babypips 100 times, you still won't get, forex is not something you read in a book... Babypips will only give you the market education. Don't listen to all these gurus telling you can do it yourself, of course you can anyway by watching a lot of videos and practicing a lot not reading babypips.
To shorten your learning curve, find a mentor who will guide and take you by hand and will be there to answer you whenever you have questions, then you need to practice a lot.. You have to face the market but you need to have a set plan to attack the market always[/quote]Baba has said what I've been trying to say all this while. This is just it people, all in a wrap!