₦airaland Forum

Theyoungmaster:
Buying EUR/GBP.

Selling GBP/CAD

Closing E/GBP @106 pips. Less than 7pips away from Tp.

G/Cad is currently running at 70 pips. Few pips away from Tp. There's still more room for downward descent. Might close it before New York close or let it run till tomorrow.

Fibonacci88:
Don't know if it's the same as I haven't use OBV before. Easy to interpret to know if a thread is still in full force or losing steam. I use it as a confirmation signal if all my other parameters have been met. If I see low or average volume when price is nearing a support or resistance I have an indication that dat supply and resistance would be respected. I use it with major pairs as these are the only pairs I trade. Very sure it's still the same on minor pairs.

Quite Lucid enough. I'll check it out. Thanks for sharing

Fibonacci88:
Who uses volume analysis here. I have added volume spread analysis to my arsenal and the results have been impressive.

I use on balance volume to check momentum sometimes. Is it same as "volume spread analysis"? Can you throw more light on this boss.

Theyoungmaster:
GU has printed a rising wedge once more. Good opportunities abound.


Scenario 1; I Will be looking for shorting opportunities if price retraces to confluence zone of 50.0 fib level and 1.3467 Support drawn from weekly TF ( I have a sell stop placed below there anyway...@61.8 fib level to give room for break and retest of 1.3467)

Scenario 2; I will be looking for buying opportunities above resistance drawn from daily TF at 1.36351( I have a buy stop placed slightly above there).



Observe. Wait. Follow.

A pip-full week to all of us.

GU is slowly retracing to 50.0 fib level as anticipated. Kinda tempted to pull the sell trigger. But lemme chill to avoid stories that touch.

It's "Plan your trade. Trade your plan" after all.

Let's see how it goes.

Theyoungmaster:
Buying EUR/GBP.

Selling GBP/CAD

40+ & 60+ pips respectively.

Moving Sl for G/CAD to BE.

Buying EUR/GBP.

Selling GBP/CAD

peteregwu:
Believe me guys, forex is not easy when you are a newbie without a good mentor. That's why many newbies get discouraged at the end.

Fact.
Hope our veterans here can be helpful in this regard. Me gan sef Don dey get cold feet. The volume of knowledge is overwhelming. We need filters.Filters in the guise of mentors.

GU has printed a rising wedge once more. Good opportunities abound.


Scenario 1; I Will be looking for shorting opportunities if price retraces to confluence zone of 50.0 fib level and 1.3467 Support drawn from weekly TF ( I have a sell stop placed below there anyway...@61.8 fib level to give room for break and retest of 1.3467)

Scenario 2; I will be looking for buying opportunities above resistance drawn from daily TF at 1.36351( I have a buy stop placed slightly above there).



Observe. Wait. Follow.

A pip-full week to all of us.

Mrbillionaire:
For me, I am training myself to be aggressive in trading, turning drops to an ocean.

That's the plan boss.

Theyoungmaster:
Please who has used a cent account before? How's the experience like? I have opened a cent account with liteforex. What possible pitfalls and obstacles do I face? I intend funding it with less than $50...(now don't laugh, that's what I can afford right now, I'm still learning). So, are there any disadvantages I face with such low balance? What leverage is advisable? Please I need answers. Thanks in anticipation.

Please I still need more info on this.

IMAliyu:
FBS
1:1000

Didn't have much of an idea of what I was doing back then, but a leverage that high allowed me take some stupid trades.

Lol.

That kind donation. We learn by falling and rising. Though wisdom profiteth more sha.

Thanks for that honest contribution.

IMAliyu:
I won't say I use, more like I've blown a cent account before.
But here is what I learned.

A #50 cent account, should appear as #5000.
The experience trading shouldn't be any different from trading a standard #5000 account.
Just that your profits/lose are in cents.

Leverage depends on you, How many trades or lots do you usually have open at a time?
But to keep risks low I'd personally go with a 100 leverage.

Thanks for your response brother. Which broker and leverage did you use for the cent account back then?

Please who has used a cent account before? How's the experience like? I have opened a cent account with liteforex. What possible pitfalls and obstacles do I face? I intend funding it with less than $50...(now don't laugh, that's what I can afford right now, I'm still learning). So, are there any disadvantages I face with such low balance? What leverage is advisable? Please I need answers. Thanks in anticipation.

Ijaya123:
If you’re in Ibadan, I can invite you over.

I'm in Ibadan. Drop coordinates

Alas! Feels good to be back. I was banned from this forum last week for reasons I can't imagine. I just suddenly found myself unable to comment for days. To the Moderator that banned me, Please, what did I do wrong? Why was I banned? If twas another oversight, then I demand an apology. If twas for something I did in ignorance, please forgive.


Those who know the rules here should educate some of us newbies so we don't break the law ignorantly.

BusinessCity:
The Business Hub is an enterprenual and business team of " 10 CONTENT WRITERS " working onboard a project to establish a chain of business ventures through a working from home-styled participation.


We seek more individuals to take up positions on our team and like you to consider participation.

We are looking for interested and willing persons to be a part of this team.

Your roles will be to write articles & produce a variety of them

You'll be trained to meet up with the necessary roles that's required of you.

You'll learn new insights, skills & ideas that will prove inestimable to you even after this project.




Remuneration is 1 Million Naira payable at the end of the engagement.

If you like to participate, send a message to the WhatsApp contact on the signature


Thanks for reading


From : The Business Hub Desk

I'm interested.

Pipsbasketings:
Reflections on Forex Trade Alerts - NL

---

Forex Trade Alerts: Season 20 -------- 651+ pages
Forex Trade Alerts: Season 19 -------- 339 pages
Forex Trade Alerts: Season 18 -------- 124 pages
Forex Trade Alerts: Season 17 -------- 222 pages
Forex Trade Alerts: Season 16 -------- 345 pages
Forex Trade Alerts: Season 15 -------- 353 pages
Forex Trade Alerts: Season 14 -------- 230 pages
Forex Trade Alerts: Season 13 -------- 703 pages
Forex Trade Alerts: Season 12 -------- 102 pages
Forex Trade Alerts: Season 11 -------- 116 pages
Forex Trade Alerts: Season 10 -------- 106 pages
Forex Trade Alerts: Season 09 -------- 102 pages
Forex Trade Alerts: Season 08 -------- 102 pages
Forex Trade Alerts: Season 07 -------- 102 pages
Forex Trade Alerts: Season 06 -------- 101 pages
Forex Trade Alerts: Season 05 -------- 101 pages
Forex Trade Alerts: Season 04 -------- 100 pages
Forex Trade Alerts: Season 03 -------- 100 pages
Forex Trade Alerts: Season 02 -------- 100 pages
Forex Trade Alerts: Season 01 -------- 101 pages

I can not guarantee that I will be around on FTA 21; but b4 then, I again want you all to strongly believe that FX is real, reliable, and can be profitable.
I have been in this business for some time with provable or verifiable results which I have shared here and with some in privates.
My very best advice for you is to learn how to fish rather than being fed - In other words, become your own boss.

- Post trades, discuss trades and/or general outlook and NOT results; exception: post results of the trades you call and not the ones you never posted before maturity - it is that simple.
- When anyone comes here to show trade results, don't be shy to ask him/her to show if the account is real or demo; trust me, it is their major tactic of luring people to corner them.
- Update your call if it hits SL just as you would definitely love to update if it hit TP, don't just let it slide hoping no one would notice.
- Call out traits or traces of scam as early as possible: these guys are everywhere and can go any length to milk you.
- Respect everyone's trading style and strategy, be professional in conversations that relate to their trading strategy/style - we all are different types of traders and we can never and never trade the same way.

Above all, I will say compliments of the season: Merry Xmas and Happy New Year in Advance

Person wey fit go through all the pages of all the seasons go gallant gan! I wish twas possible to convert the pages to PDF for easy access.



I look forward to still seeing you on the next season sha. God no go shame us.

infofirst:
Thats the beauty of gbp when you get them right.
I hope the 150 locked can allow price breath down to 1.342*** Yeah.. 1.3635/55.... Flowing along too.

You were right sir. I reviewed the SL down to 140pips. Unfortunately I got stopped out. Another lesson added to my tool box....*Trail your Stops wisely*

infofirst:
Mvp of the day.

Ahhh! y'all elders here are the real MVP.

lemme sha screenshot and save this. It's encouraging really. Thank you Sir.

Theyoungmaster:
Price was rejected at the 1.318 Monthly support zone...as anticipated. I'm going long. Will ride till the next resistance (Drawn from weekly TF) at 1.346

Let's see how it goes.

First Buy order hit Tp @ 155 pips.
2nd Buy order is currently at 170 pips with over 150 pips locked in already. I'll be holding till the next resistance ahead @ 1.36351 (drawn from daily TF).
Today is a good day. Over 600 pips milked from only GU.

Appreciation to my bosses for showing me the grail called "Price action".

orogo:
TRADING PSYCHOLOGY

The beginning of trading psychology in Forex is when you finally decide to be realistic based on your level. As a newbie, you will probably be a losing trader and you really don't need much exposure or maybe no real exposure at all. It will take time, effort and commitment to get good at this and it wouldn't be a get rich quick scheme.

As an intermediate trader, you can expect to be a bit profitable with the hope of getting better. You can make from 10% - 50% monthly based on how viable your technique is going to develop over the long term.

As an expert trader, you know you can make 50% or more monthly. You understand that the results are out of your control but your process and routine on how you generate trade ideas and implement your technical as well as manage risk are in your control. You know that you've become really really good and you know you'll probably be fine with 5% or 10% bets on your account. You can safely flip small accounts at will and you know its ok when you lose.

To build psychology fast, you must try to maintain a fixed percentage bet of your account over a period of time (2% preferably). You must have practiced a lot in demo and gotten decent with your technical skills. By using a consistent bet size backed with money management over time, you begin to expose yourself to profiting from a larger sample size and allowing the law of averages work for you.

The most advanced psychology you can ever have is to let your winners run and cut your losses. Do not tolerate losses. Do not hope to get anything from them. Cut them out immediately and the best way to do this is to use hard stop losses backed with proper money management. For your winners, you can use soft targets if you trade long term or just proper risk to rewards.

If you use proper risk-reward, its best to just set it and leave it. Believe it or not, you are capable of doing more harm than good when you micro manage your trades. You will be tempted to cut profits short and this will work against you mathematically in the long term. Just know that until the trade is over, you've neither won nor lost anything.

One thing I can tell you with certainty in this uncertain market is that your account will fluctuate. And cheer up, Forex is way easier than Bitcoin trading or Football trading.

you're really kicking knowledge Sir.

Thanks for sharing.

Theyoungmaster:
I'm closing all trades @ 300 pips. Quite close to Tp. Half bread is better than none after all. I'll sit out and observe what happens at the blue lower channel Line drawn from 4H TF and subsequently at that 1.318 monthly support line.

Over and Out!

Price was rejected at the 1.318 Monthly support zone...as anticipated. I'm going long. Will ride till the next resistance (Drawn from weekly TF) at 1.346

Let's see how it goes.

Benqozenero:
Those who have been following my "30% per month challenge" congratulations we did it in record time.

Those sending me emails on how to continue copying my live account please exercise patience, I would open my live account for copy services to the public by the 1st of March.

Thanks @Pipsbasketings, thanks @Teemy, thanks @karleb. Thanks all.

The contest of months ago you started with $200 balance?

Wow. Didn't know you were still in it. Congratulations Bruv

djwalata:
Many newbies will either hit jackpot or got bankrupted today.

Lol.
You're right Sir.
That's why some of you Elders here should adopt some of us newbies for proper mentorship.

Theyoungmaster:
So I closed this out with 103 pips in profit few hours before New York close on Friday. I equally let a second Sell order I entered run through the weekend.

Price opened at 1.34119. That's 85 pips below Friday's close (1.34975). The set up is still valid. Will be adding another sell upon more bearish confirmation on London Open.

Currently 130 pips in profit.

I'm closing all trades @ 300 pips. Quite close to Tp. Half bread is better than none after all. I'll sit out and observe what happens at the blue lower channel Line drawn from 4H TF and subsequently at that 1.318 monthly support line.

Over and Out!

Theyoungmaster:
80 pips and running.
I've locked in 42 pips.
Might probably close out the trade by New York close and re-enter on Monday if the set up is still valid.

Thanks to all the bosses here who keep dropping these knowledge for us newbies to learn from. Personally, I've learnt a lot from this thread and I'm still at Page 330. Little wonder how loaded I'll be when study all the charts dropped till page 1. Choi! I just can't hold my excitement. God bless all of you my bosses!

So I closed this out with 103 pips in profit few hours before New York close on Friday. I equally let a second Sell order I entered run through the weekend.

Price opened at 1.34119. That's 85 pips below Friday's close (1.34975). The set up is still valid. Will be adding another sell upon more bearish confirmation on London Open.

Currently 130 pips in profit.

Mrbillionaire:
Loteforex is OK, they have cent account and accept debit card. Every broker requires verification.

Thank you boss.

Liteforex you meant?


Lemme check their website.

Please who knows any Nigerian user friendly broker that has a platform for cent accounts? one that requires little to no verification....accepts deposits via credit card.

Thanks in anticipation.

blackman007:
This is a forex thread for the last time...

Zero chills! � � �

Theyoungmaster:
Going fine thus far.
Currently 53 pips in profit.
I've moved SL to break even and lock in 20 pips profit.
Let's see how it goes...

80 pips and running.
I've locked in 42 pips.
Might probably close out the trade by New York close and re-enter on Monday if the set up is still valid.

Thanks to all the bosses here who keep dropping these knowledge for us newbies to learn from. Personally, I've learnt a lot from this thread and I'm still at Page 330. Little wonder how loaded I'll be when study all the charts dropped till page 1. Choi! I just can't hold my excitement. God bless all of you my bosses!

Theyoungmaster:
GU has printed a rising wedge. Let's watch for the massive drop.

Waiting for more confirmation.


Break-Retest-Entry

Going fine thus far.
Currently 53 pips in profit.
I've moved SL to break even and lock in 20 pips profit.
Let's see how it goes...