₦airaland Forum

naijababe: In my humble opinion forex is way easier, your charts tell you something has a high probability of happening, u don't know when but with patience it will. BOM has time ceilings, think they are very similar or the same as binaries, no?

Well, i think BOM is way easier because you don't have to deal with emotions after a bet is placed. In forex trading, volatility tends to affect the psyche of a trader but in BOM especially some that allow you open max of one position on a pair with 24hrs interval, you are more relaxed and focused expecting profit or loss.

But trading BOM can be similar to fx because if you speculate that a price will test a certain supp and you sell then you can as well place a touch or no touch bet on same pair and relax. I like using 24hrs interval using touch or no touch method.

So the idea of placing a bet and relax makes it better than fx where you come in and go out of positions giving your self emotional turmoil and making a dent in your equity irrationally.

HALLELUYA247: can someone trading with 100 dollars follow ur post and is this todays market trend and hw can one use news to trade. i wud b greatful if you reply me through these means 07031968155 or seyi1623@yahoo.com thanks.

With 100usd you can trade any method or signals. All you need is to use good money management and calculate your risk size.

First you ask yourself how much risk do you want to expose. If say 5% then first calculate your 5% which will be 100/100 x 5 = 5usd

now check the stop loss of the signal you wish to use. Lets assume its 60pips or 80pips, you can add say extra 30pips making 100pips then divide that 5usd by 100 which is 5usd(5%)/100pips sl = 0.05usd which means you will place a lot size that gives 5cent per pip and that can be found on a cent account which is offered by some brokers.

Using any lot bigger than this will endanger your equity. The idea in starting small is to trade lot sizes that is commensurate wth your equity then as you get more money, simply add to that equity until it has reached a good sum but trying to rush small equity into large sum can result to total loss which to me is a foolish way to go.

Hope this helps

Toks2008: My advice to any trader is to buy short on euro capturing few pips because we are bound to see pullbacks from time to time.

From what i see, i will either be buying euro at pullbacks or buy with quick pips. so a retest of supp 12884 should set my bullish positions in motion for quick 20/30pips

And i may exit the buys if euro moves lower to test 12855 and open a sell to 12820 making back 35pips
but if there is no pullback i will not open any bullish position.

back to bed.

The intraday 20pips hacker EA will be opening 3 set of bullish positions if euro tests the following supp levels 12912/12907/12895 and will be aiming for 20/20/30pips respectively

I will be placing the stop loss somewhere around supp 12860 and open a sell position down to 12820 and that will be the trade set up for the day. Use good mm and trade with care.

we may see a good bearish surge today on euro because the daily trend may start a good pullback today but still bullish to res 13232 but the retracement on daily chart is a whole new trend on the intraday chart.

happy pipping

My advice to any trader is to buy short on euro capturing few pips because we are bound to see pullbacks from time to time.

From what i see, i will either be buying euro at pullbacks or buy with quick pips. so a retest of supp 12884 should set my bullish positions in motion for quick 20/30pips

And i may exit the buys if euro moves lower to test 12855 and open a sell to 12820 making back 35pips
but if there is no pullback i will not open any bullish position.

back to bed.

Toks2008: So as long as euro has not tested 12900/920, just wait for a pullback and don't chase the trend except you have enough will power to withstand retracements.[/color]

Well well well, this was sent yesterday and euro tested 12920 today. Traders are advised to brace up for the bears so we may be seeing a good bearish correction on the daily chart which should be a whole new trend on the intraday charts. Lets wait to confirm the bearish dominance before we go with them so you can risk selling euro at the close of this present daily candle with 30pips sl above the high of the present daily candle after closing and tp wide open.

NB:To know the high/low/open/close value of a candle just attach data window to your chart.

Toks2008: So as long as euro has not tested 12900/920, just wait for a pullback and don't chase the trend except you have enough will power to withstand retracements.

This was why i wrote last night



If retracement does not happen so be it. wait to sell if 12900/920 get tested. Price movement can be very trickish.This was why i coded my swing trading method to go with price action using specific entry and exit rules because even i can not trade the trend manually. Retracement is not easy to watch but unfortunately forex price action is designed to make a pullback for even a greater move.

An intraday bullish position just opened gunning for 20pips,another one will open at supp 12852 and the last one will open if 12830 is tested and if the bears continue their conquest all 3 positions will b exited at 12790 to sell down to 12760. But if there is another bullish turn, i simply bank quick 20pips on each open position.

Ok friends, good pips just banked on the 3 positions

Have a great day.

So as long as euro has not tested 12900/920, just wait for a pullback and don't chase the trend except you have enough will power to withstand retracements.

This was why i wrote last night

Toks2008: As we draw close to Asian session, traders of euro should still have a bullish perspective and wait to buy back after a possible retest of supp 12846/12827/12800 with vivid sl at 12780 gunning for 20/30pips.

G night

If retracement does not happen so be it. wait to sell if 12900/920 get tested. Price movement can be very trickish.This was why i coded my swing trading method to go with price action using specific entry and exit rules because even i can not trade the trend manually. Retracement is not easy to watch but unfortunately forex price action is designed to make a pullback for even a greater move.

An intraday bullish position just opened gunning for 20pips,another one will open at supp 12852 and the last one will open if 12830 is tested and if the bears continue their conquest all 3 positions will b exited at 12790 to sell down to 12760. But if there is another bullish turn, i simply bank quick 20pips on each open position.

Toks2008: Looking at the charts, euro is on a long term trend to res 12900 according to the swing configuration as seen on the weekly chart but long term trades such as this is not easy to trade manually because we need strong mindset to withstand random moves. So as you sell euro, sell with a long term bullish notion.

I remember sending this first swing picture and you can see the second picture that euro seems to be nearing its destination 12900 and this is why i wrote that 12920 should be a crazy pullback point so lets see how far euro can go.

This thread should be coming to a close today.

Its interesting to see the dividend of what i fought for on nairaland 4 years ago when Seun had a zero tolerance to forex trading discussion on nairaland. I remember this post i sent in Nov 2008.

Toks2008: Dear Nairalanders,

Good day to you all, just want to express my observation to you all.

Seun wrote this and i quote
"If you post anything related to , forex trading, investment schemes including high yield investment programmes and multi-level-marketing schemes or anything that's percieved as a spam, you will be removed from the forum and your entire ISP may be banned. please be warned"

But please how can you immagine an online forum to make these rules when the same forum advertises same venture on its web pages. HABA

I can't believe that any one that is very enlightened will any reason to send a widely read thread "Forex trading,how profitable"

Rich in content,viewed over 900 times with more than 45 replies tothe recycle bin. Haha, let us be diplomatic a bit.

I am so offended not because it was sent to the bin but for the fact that there is no moral justification for this.

Many threads under romance and sexuality ought not to be read on nairaland but you will see them left for months yet an educative and informative thread like this removed just like that.

Check all my all posts and you will see that they have great substance and you can only imagine how many people have thanked me over the phone for my numerous threads.

I am using this medium to sign offf permanently from posting on nairaland and i will let every other fora online learn from the unwarranted and hypocritical act of whoever removed the thread.

We nairalanders make nairaland, what it is, without us there will not be nairaland.

On the final note, i am telling the moderator of this site to remove any advert concerning forex trading on this website or tender an unreserve apology for removing that thread.

I rest my case.

Back then Seun threatened not to just ban you but your entire isp. Na wa! but now tell me which other thread on nairaland is declared close as a result of thread page exhaustion, this indeed is a big lesson for Seun to learn from.

Toks2008: As we draw close to Asian session, traders of euro should still have a bullish perspective and wait to buy back after a possible retest of supp 12846/12827/12800 with vivid sl at 12780 gunning for 20/30pips.

G night

G morning friends

20pips banked as euro made a rebounce after testing 12845 neverthelless we may likely see another bearish correction to supp 12849/12826 which should give us another opportunity to buy provided that res 12890/12920 are yet to get tested.

happy pipping

Toks2008: If euro ever manages to get to res 12890/12920 please chill out because we may likely see a crazy bearish thunderbolt.

As we draw close to Asian session, traders of euro should still have a bullish perspective and wait to buy back after a possible retest of supp 12846/12827/12800 with vivid sl at 12780 gunning for 20/30pips.

G night

Vanities.

namdo: Euro seems not done fighting back, the speed resumes. pls guys check the crosses.

If euro ever manages to get to res 12890/12920 please chill out because we may likely see a crazy bearish thunderbolt.

Toks2008: Traders of euro should be prepared to buy euro back at a retest of supp 12774 with tp at 12794/12816 with vivid sl at 12750.crazy

[9:21:35 AM] Forex Refuge: trade with care

Nice pips banked today.

I actually coded my swing trading method using price action. Just following price because price movement is the ultimate, just follow it wherever it goes.http://www.myfxbook.com/members/ForexRefuge/short-term-swing/368753

I am only testing this EA to see if it does as coded and not to test its profitability so whatever automated trading gives you in demo is just same as real because no emotion is attached.

The only EA im still testing for efficacy is the 20pips intraday hacker but my zombie swing EAs are done deal.

I call them zombie because it follows price action wherever it goes like a zombie.

Nevertheless, buyers of euro should watch for a strong res level 12891/12920.

Toks2008: If you entered euro sell at 12785 please exit now at 12794 as euro may go higher to test 12827/50. You may sell back if that res hold.

Traders of euro should be prepared to buy euro back at a retest of supp 12774 with tp at 12794/12816 with vivid sl at 12750.crazy

[9:21:35 AM] Forex Refuge: trade with care

Toks2008: Morning friends,
In view of the analysis above, traders can now sell euro with a vivid stop loss at 12822 with tp at 12755/12735 or lower now at 12785.

Trade with care and use good mm

Happy pipping

If you entered euro sell at 12785 please exit now at 12794 as euro may go higher to test 12827/50. You may sell back if that res hold.

Toks2008: sellers of euro should place their stop loss at 12827 and leave their position to run.Only a breach of that will suggest a bullish continuation.But looking at euro, this bullish surge may go as high as 12850 before we see a strong pullback. This is why i hedge positions sometimes. Price action is so random that using outright stop loss can be unwarranted rather i place a pending hedge order where there ought to be a stop loss and this i can do because i understand supp and res levels.

Euro is indeed on a very confusing move. Sellers will be so angry when they see euro move as high as 12850 then crash down like thunderbolt. But buyers should bow out at 12827. We will resume buying if euro breaks that strong res level and if that level holds then i see euro crashing.

Toks2008: Morning friends,
In view of the analysis above, traders can now sell euro with a vivid stop loss at 12822 with tp at 12755/12735 or lower now at 12785.

Trade with care and use good mm

Happy pipping

sellers of euro should place their stop loss at 12827 and leave their position to run.Only a breach of that will suggest a bullish continuation.But looking at euro, this bullish surge may go as high as 12850 before we see a strong pullback. This is why i hedge positions sometimes. Price action is so random that using outright stop loss can be unwarranted rather i place a pending hedge order where there ought to be a stop loss and this i can do because i understand supp and res levels.

Toks2008: As we draw into Asian session, traders should expect a possible bearish trend commencement on euro as a breach of supp 12740 should put the bears in business. Traders should wait for a possible retest of res 12774 to exit any bullish positions they have on and sell euro as we may see a bearish move kicking off.

Trade with care.
Good night.

Morning friends,
In view of the analysis above, traders can now sell euro with a vivid stop loss at 12822 with tp at 12755/12735 or lower now at 12785.

Trade with care and use good mm

Happy pipping

Toks2008: We should be ready to open next week with a possible bearish trend if res 12823 holds which may send euro on a strong retracement down. Till then have a great weekend.

Toks2008: A breach of supp 12740 should take it down to 12688 else i still see a retest of res 12816 so traders selling euro should watch out and trade with care as we may see surprise bullish move from time to time bit a breach of 12740 will set the balls rolling for the bears so watch out for strong supp 12752

As we draw into Asian session, traders should expect a possible bearish trend commencement on euro as a breach of supp 12740 should put the bears in business. Traders should wait for a possible retest of res 12774 to exit any bullish positions they have on and sell euro as we may see a bearish move kicking off.

Trade with care.
Good night.

Toks2008: Good Day Friends,

Euro still has unfinished business with the bulls on the weekly chart as well as the daily chart.

Nevertheless, the intraday bears may take euro down for a retest of supp 12769/12752 which looks good enough to push euro back into the bulls territory.

Intraday traders are however advised to place a buy limit around supp 12769/52 for a quick 20/30pips with a vivid stop loss at 12720.

Trade with care and use good mm

Happy pipping

[5:56:55 PM] Forex Refuge:

A breach of supp 12740 should take it down to 12688 else i still see a retest of res 12816 so traders selling euro should watch out and trade with care as we may see surprise bullish move from time to time bit a breach of 12740 will set the balls rolling for the bears so watch out for strong supp 12752

Kirinwa: Am looking for opportunity to buy either GU,EU,EJ or GJ.

I wrote earlier this morning

Toks2008: Good Day Friends,

Euro still has unfinished business with the bulls on the weekly chart as well as the daily chart.

Nevertheless, the intraday bears may take euro down for a retest of supp 12769/12752 which looks good enough to push euro back into the bulls territory.

Intraday traders are however advised to place a buy limit around supp 12769/52 for a quick 20/30pips with a vivid stop loss at 12720.

Trade with care and use good mm

Happy pipping

20pips would have been banked for a trader who bought around 12769 region. Nevertheless a breach of supp 12740 may send euro down to 12688 but i have decided to look for quick 20/30pips profit on the intraday charts which when added up gives consistent growth.

Good Day Friends,

Euro still has unfinished business with the bulls on the weekly chart as well as the daily chart.

Nevertheless, the intraday bears may take euro down for a retest of supp 12769/12752 which looks good enough to push euro back into the bulls territory.

Intraday traders are however advised to place a buy limit around supp 12769/52 for a quick 20/30pips with a vivid stop loss at 12720.

Trade with care and use good mm

Happy pipping

I was using commercial network and presently using ucvhost. http://www.ucvhost.com

infofirst: yes boss, 1.2823 here too

NEVERTHELESS PLEASE EXIT YOUR BULLISH POSITION BEFORE CLOSE OF THE TRADING DAY IN FEW MINUTES.

unfortunately i have to allow the swing trading Eas exit with the vivid change of trend but manual traders should exit before 10pm.

erniok: yeah but its based on the signal my system gave.

No wahala as long as you trust the system. Just that i prefer using lagging settings for my indicator and that is why i chose heiken ashi candles to start with then stochastic 100 10 10 with other useful indicators.

erniok: went short now on eurusd with 60pips sl. my system says EU is ripe for a jump south.

Not a bad sell as i see euro making a good u turn after a test of 12823 but that was an early sell though.

Toks2008: 12823 is the next big res i see but we just might see a strong pullback before the bulls embark on a final lap to this level.

We should be ready to open next week with a possible bearish trend if res 12823 holds which may send euro on a strong retracement down. Till then have a great weekend.

Toks2008: From the swing angle, i see no news restricting euro from jetting far up to test 12755/12830. Traders should hope that NFP should force euro down first to retest supp 12651 then we buy from there and zoom up and i mean far far up with the bulls.

Kai, no pull back at all.Anyway lets see how 12755 reacts. But if this gives way, na 12823 be dat. Kai

NFP TRADE ALERT:Place these signals a minute to the news release

Euro sell stop at 12691 tp 12671 sl 12711
Euro buy limit at 12666/1655 sl 12604 tp2 12730 tp2 12755

And if it spikes far up as may be the case, buy with care and use good mm. And if buying please don't exceed 12755 as we may see a crazy pull down once that level is tested.

Happy pipping

Toks2008: The way price move can be very very trickish and this is why using good mm at all times is very vital.

Look at euro, i can tell you with 80% assurance that it may be heading up to test 12703/12730 but no one can really say if there will be no crazy pullback. Any trader placing a buy now can be said to place a good trade but what if retracement begins and he used a crazy lot? wahala starts and he hurriedly closes in big loss.

So i always say that random price movement is the nightmare of every trader and the fear of random moves is the beginning of success so trade with good mm at all times even when pips are falling like rain.(Not easy i know but lets try)

Traders should trade the bulls with care irrespective of the possible further bullish surge we may see as news get released in about an hours time.

We are likely to see a false swift bearish pull which may retest supp 12650/12614 so i suggest you consider buying back at pullback and you may also risk selling the retracement by placing an instant sell 1 min or 30secs to the news release with a stop loss 20pips above your entry to make fast 20/30pips if a false pullback occurs but we should still keep a bullish perspective. 12823 is the next big res i see but we just might see a strong pullback before the bulls embark on a final lap to this level.