₦airaland Forum

jamace:
GBP/AUD
SELL @1.94530
TP @ 1.92453
SL @ 1.95000

Best of luck.

Good work bro but you should place your SL higher. A big chance it will be taken out before a move down.

Gold and GA have been absolute darlings this week.

mutik1977:
gold, EU/GU all move in same direction 95/98% of d time. sometimes a buy signal on EU will force gold to go up & vice versa. d lesser instrument d better. my 50cent contribution. happy trading

may be tomorrow is another signal for EU. closed 1:1.5 & d tin still vomiting.

Obviously. They are all USD dependent. Which is why it is important to balance out your selections..

Like I lost to Gold but more than recovering on GA..

^^ Markets are random yes. Doesn't mean you should be preaching your kind of gospel. Well done o and good luck.


To anyone tempted to buy into that gospel, be sure you have enough money to waste. Una well done.

EZEIGBO may have sounded crazy but in every nonsense there is sense.

Like I always say here, you are better off leaving your money in a savings account than following some crazy forex rules that are nothing but rubbish theories. For example, why risk only 1% of your $500 account trading a system where your stoploss is rarely above 30pips? Or trading microlots on a $10k account? Or trading daily charts when you have less than $5k?

Money management must be done with sense. However, taking huge stupid risks like for example using a standard lot on account that is less than $1k is crazy and must not be encouraged. Which is what I think most people here are against.

SENSIBLE use of risk and COMPOUNDING is the key to success in this business. Even the George Soros mentioned took those risks after careful calculations and perfect understanding of what a loss will do to him. You are deceiving yourself if you think he took those positions with everything he has in the bank.

Anyone that cares can sell Gold now a 100pips SL. Don't wait for the SL to get hit though.. Any sharp move above yesterday's highs should be your signal to exit.

Take time to understand Gold and you may not really need another pair to trade. I could show off the number of pips made from it last week when it was supposed to be in a range or yesterday's own but I didn't drop alerts so no need. It is still the best instrument in this market IMO.

Owliver:
Lol that system no dey try at all. January far na. Atleast once or twice a week signal is still ok. Not once in 4months lmao

Everybody wan form patient trader

Quite sure account history will say otherwise.

Just joking o..

It is seriously possible to get one signal in 4 months if you trade monthly charts. However, your account must be in hundreds of thousands of dollars at least for that to make any sense. If the person dey struggle micro account, waste of time and money. Put that money in a savings account abeg.

There is no hard and fast rule for how many times you should trade a week. Just use common sense that's all.

honeric01:
I have only been trading gold for months now and it's been very boring for me.. infact.. trading since this year has been boring to me..

Anyone felt or feels like this too?

Like the great Naijababe once said, "Boring trading is good trading" so you should be very happy if your heart is not always beating and you can sleep properly at night. Stick to what you are doing.

To the person talking about trading more pairs. The dozens of pairs are all linked to each other in one way or the other so trading two or three pairs only and trading 20 pairs may still bring the same results in terms of raw cash.

We all started with trading everything tradable. Some of us have since left that boat because of its stress.

I trade only Gold and GA and I have a monthly pip target of 500pips total from two of them. Even with the range and everything, I easily reach that target most of the time and surpass it. Bad months still give a positive net.

Of course there are a million ways to kill the forex rat but watching 3 pairs or less is great. If you have a good system and enough patience, you don't need thousands of pips to become successful in this business.

honeric01:
500 pips...something else may likely do this.. anything can happen between now and then... you know..like Russia invading America lolz

Lmao

honeric01:
"its going to go down" sounds rather too conclusive...I wouldn't use such term in FX trading...

lets see what happens between 118* and 121*

Agreed. Also not expecting any 500pip movement before FOMC and NFP for May.

Shevychen2:
Gold done 150+ pips.

Selling GA at current price with SL at 9350.

The pin on the hourly is encouraging but I will close at 7pm regardless of result.

Gold done 150+ pips.

Selling GA at current price with SL at 9350.

fxbomovi:
market is traded by real humans, so it makes perfect sense to trade setups and signals that is very visible to virtually everyone! this does not mean that you won't have losing trade, but you will have far less losing trade and really more winning trade!

good morning!

This is exactly why strategies based on classic pivot calculations for example are powerful. Most people are seeing it so it more or less becomes a self fulfilling prophecy. Gold was in a range last week but I managed to get 180pips from it. This morning I got in immediately it hit R1 because it is still in a downtrend for me here until a daily close above 1210.

Focusing on such levels only will bring fewer trades but lower chances of your stoploss getting hit.

^^^ If I understand correctly, 5 pips is the bone of contention? Must be spread issues. But which broker has a 5 pips spread for GU? 2 should be the maximum.

I still don't believe people don't see these NFP numbers or at least have something that tells them what direction it will go before hand. Been trading Gold for a while and 80% of the time the move mirrors the trend on the daily chart. Just see how price quickly reversed 3 days of minor retracement to zoom up without provocation on Wednesday.. Maybe conspiracy theory but whatever

Just sad I didn't get the memo on Gold being closed today.

jendy36:
Are you talking of micro, mini, or standard account? Note that 1 micro lot size is different from 1 standard lot size?

I will like more clarifications pls so that I can correct my self. Thanks

I am talking of a standard account where 0.01 lot size is 10 cents. 0.1 is 1$ and 1.0 is $10.

@thread. Anyone holding Gold buy should be smiling heavily now. Positive gap on Monday obviously.

Gold closed for today.. People holding positions will either be hit by a shock or a surprise. NFP sure to move it 250-300pips before it opens on Monday. Interestingly Stop Loss won't even save you in this case.

jendy36:
This number 1 I find very helpful to me. At least, I can now know what I stand to loose and what I stand to gain by this calculation. Not just entering any lot size anymore. I just took a screenshot of it.

The calculation is wrong but the idea is the same.. At 100pips stop loss, using 0.5 means losing $250 instead of $50. Should be 0.05 micro lots.

I don't have any fancy formula to give though and I am not good with maths.. I just ask myself what is 10% of the balance and cut it in two to get the 5% lol. Then use a lot size that matches the number I come up with.

Gold still looking bullish but the trendline on the daily is holding for now. Watching for a daily close above 1210. However I expect NFP to push it down from around that level. Sideline for me o..

Not sure if anyone is following that Gold trade but just in case I have moved my SL to 1197 jare. 300pips is better than nothing.

Owliver:
yh very possible. The "pause and delay" to execute order I've experienced it with instaForex and I believe most people have experienced it too. The broker pauses the order and once within than seconds price goes against you then they activate the trade and you see like 8-10pips(80-100) negative. But when it goes in you favour they requote. Its best he leaves the broker if he's not comfortable. CC: needinfo

His problem is not a broker problem. He clearly doesn't understand how spreads work. It is almost compulsory for your trade to start at -X amount of pips as spread. Five digits also confusing him as naijababe said.

Owliver:
he's seeing it as a big deal because the 5mins time frame candles are also long I used to like that lower tf cos its long and plenty

But it can also drive you mad with the fake allure of less risk and ability to use huge lots.. We don suffer no be today

Gold being childish. Just 10 pips to hit my TP and it refused
I must see the end sha..

Owliver:
its spreads. In a such situation your broker activates your trade base on the commission or spreads. If the spreads is five pips ur trade activates 5pips before the expected figure. Besides, its not 50-60pips. Its 5-6pips... Good morning.

Word. Happens to everyone. You won't even notice if you trade off higher charts.

needinfo:
seems your trading platform is different from mt4/mt5.pls which platform are you using.also, will need some one to explain to me why trades keep filling me in the market even when price has not touched the point i specified to scheduled expecially on 5,15 minute charts.each time i scheduled a buy or sell order, the market will fill me in without price reaching/hitting that point i specified and it immediately suck up my cash to large negative pips.also, if i place decided to place a trade immediately in the market, it also fill me in with large negative balance.why does it happen.is it because it is on 5,15 minute time frame because i am just confused.at times the negative pips will be over 50-80 pips immediately i enter the trade and also when i schedule a buy or sell order, price won't hit the point but it fills me in

How long have you been trading? I am sure the 50-80 pips you are talking of is 5-8 pips which is definitely the spread. If you see gold at 1198.1 for instance, buying will enter you at 1198.6 for a broker with a 5 pips spread on gold. You will see that 5 pips as -50 due to 5 digits. It is the same regardless of the timeframe. It is more pronounced on the smaller timeframe because of the smaller value of the chart numbers there.

Spread also affects your limit orders.

If you feel this is not the case with your compliant, post an example as Oga Owliver has said above.

^^ Check the name on your card and the one on your account. Don't think it will work if it isn't the same. Also be sure the amount you are trying to deposit is in your account plus a few thousand for charges.

ForexLord:
Nigerians should change their mentality everything is not scam, although I am not forcing anyone to manage their account ,I make my money I feel like helping nigerians like me are you new to forex ? Don't you know I can't withraw anyones money am not asking anyone to give to manage. Open you account yourself our own is to manage your account for you and you do some other things while your money work for you and by the way who tell you is not acct manage by nigeria, what a man doesn't know is more than him.

Lol.. You are a cheap scammer. Of course you can't withdraw money from the person's account but you can crash it while enjoying the fee you'd probably charge. You are using a fake account made up of micro lots and making noise about "what a man knows bla bla".. Before you talk rubbish check my post history. You are a hustling learner simple. I pity anyone that will allow you use his or her money to gamble at this time when dollar is very high.

Enjoy your thread.

ForexLord:
Have you been trading forex and loss you have never make money for once and it seems
sometimes you feel like quiting, forex trading is real and people are still making money from it,
What you need is right strategy and follow the right people, who you follow determines what
follows you.
Do you need "FOREX ACCOUNT MANAGER" ?
300% ROI without loss of Capital, if YES, then you need to contact us for your ACCOUNT MANAGEMENT.

Nobody should fall for this bullshit. The account statement is definitely not from an account traded by a Nigerian. Any experienced trader will know by looking at the account details at the top. Even if the OP claims to be a foreigner, there are better ways of showing a good track record of trading if you are looking to get people to manage their accounts. MyFXbook, Forex Factory are examples. Instead of asking for clients here why don't the OP go to Hotforex or MT4 and either become a PAMM account manager or a signal seller? People will troop to him if he shows any bit of consistency.

Finally, no true trader will name a specific percentage of returns. The market is unpredictable.

A word is enough for the wise.

dukum:
going short Gj 70pips stop,target 175.8

Your call is in line with the trend but the downtrend has done 500+ pips from 183.xx. We "may" see a retracement before any more major fall.

Shevychen2:
Holding a gold buy from 1167. SL is 1157 and target is 1220 or until a reversal appears. You can still get in if you can afford the stop loss.

Trade still behaving..

Surprised people are still trading with Instaforex after all the experiences shared here in the past.


Anyone that used that Pivot Point plan today would have made 100 pips each on GA and GCAD.

Forgot to say, if you are setting your limit, take into account the spread. Or better still just keep an eye on your chart of you notice a potential move to any of those zones and trigger as soon as price touches the particular line.

*Edit

Also look at how GJ and EA have reacted after hitting R1.. I think this is enough example for anyone willing to try it out.

EurAud is another decent one for long term traders. Buy now with a 120pip SL and 500pips TP.

leadzeal:
I don't trade news, but I see british pound going the bears way (That's bearish)..

You probably shouldn't be making such assertions if you don't trade news. That's not even a high impact news you are looking at.