₦airaland Forum

naijababe: I don't know why i did not take the sell at 2pm, was to busy licking my wounds from the 4 lots of buys I had

Oh well, We'll just have to keep our eyes peeled for the next one up. We could see 92.xx before the week ends.

Going long on Gold with a 40pip SL, Take profit @ 1320.20.

@Naijababe, Good thing I bumped into your post regarding 97.60, been keeping tabs on that level and nearly missed the freefall. Too bad my TP cut me off half-way.

naijababe: Where have you been?! Nice you o!

Ah, Madam mi. Been doing great. Just the offline things getting in the way. Trust all's great at your end. Did you get started on any of those courses?

@Thread, I'm patiently on the sidelines, observing. I'm bearish biased on Gold though, so long that 1233.xx resistance remains, 1215.xx and below could be on the cards here.

Quite a dramatic day. Last trade lost, a few extra pips to the SL would've sufficed.

Lurked about Season 13 without knowing a new thread has been launched.

Best to be on the sidelines on Gold - till the US Trade Balance numbers are out. I do have a buy limit at 1230.xx however, SL 50pips down - TP 1247.xx.

Gents, Ladies. Good to see you all again.

On Eur/Usd, I'll be looking for selling opportunities ONLY below 1.3500 and USD/CHF I'll be watching for a chance to go long if price breaks 0.9137.

At the moment I'm standing aside on these two pairs as they're trading on overbought/oversold levels respectively.

I'm a little pressed for time but I'll add these pending orders I have on (Note: Kindly confirm with your trading system beforehand):

Sell Stop Gold 1365.62, SL 500pips, TP 1343.60
Sell Stop GBP/USD 1.6104, SL 45pips TP 1.6011
Buy Stop Usd/Cad 1.0203 SL 40pips TP 1.0310
Sell Stop Aud/Usd 0.9476 SL 40pips TP 0.9382
Sell Stop Crude 107.29 SL 40pips TP 106.45

Will post a chart or two later on, including links to few resources I planned to share. US Fed refrained from tapering off the Quantitative easing - quite a surprising turn of events admist the flood of forecasts for september.

This should be a good read for someone.
http://www.dailyfx.com/forex/education/trading_tips/daily_trading_lesson/2013/08/15/Using_Leading_Indicators.html

naijababe: E just dey do me one kain because I had a number of trendlines hanging about so I decided to stand aside, no one loses money by standing aside o jare. Make 'FOMO' no kon cause katakata.

On options, after reading 3 books and the greeks were still giving me a headache, i just fashy o but who knows I may try it again after i don hammer wella

The uncertainty surrounding the quantitative easing is causing these choppy markets we're seeing.

The terms sounded strange at first (Call, put, strike price, Delta and all those). Been doing the basic binary options - (mainly currencies and commodities). It's fairly easy to scale those, since one point above (or below) your strike price is all you need to close in profit. Still studying and testing small amounts on the regular options - that's a whole new level.

I don't suppose you've seen this interview with a succesful options trader who managed to get the hang of it quickly:

https://www.youtube.com/watch?v=cXy9HoWX0es

Hopefully before next year, I'll have 'reprogrammed' myself with the "Peak Performance" course to break into new markets.

The Shootist: Pls feel free to critique the trade o! We will be learning together noni Stop loss below the pink line. RR around 1:1. Super traders start from 1:3 (better reward for your risk)

Ah, took this trade a couple hours ago and I'm up 14pips. If it can clear the 0.94xx resistance as naijababe rightly said, I reckon we'll be set for a rally to 0.958x (which is where I have my TP) and potentially 0.96xx.

My SL is 103pips flatout.

naijababe: Mehn! Options kwa?! Some one encouraged me a while back to give options ago after reading some texts, I decided that Imma stick to what I am doing. The timing element of options was too scary for me but I suppose you can learn it if you really wanna. Me, I am sticking with US oil, na hin go dash me my own millions

@ Thread, closed my oil short at +4pips this morning. I am standing aside until crude inventory release, look out for break out of 107.34 or 105.20 ...............Still holding EA long from last night, there is a bullish divergence on the daily plus a rejection of the 38.5% level on the same tf.

Reminds me of an FX trader that once told me he needed a good broker that could easily handle 'large volumes'. The volume he spoke of shook me. We'll all get there sooner!

Been planning on 'diversifying' from next year. Options is exciting but the risk is real - even worse when you include the complexity. The binary options (which I've got some experience with) is a bit easier to understand. The others are quite complex and need a bit of studying to get the hang of.

Moved my SL to BE on my oil short, I'm up 44pips. I think you should've left it on, A test of the daily support @ 105.64 is likely.

naijababe: Mehn, na by complete accident o. Dboy one of the posters here talked about Van Tharp so I checked out his reviews on Amazon and got the soft copy from him. By the time I finished it, it was like being born-again. I began to seriously think about doing his peak performance course and googled reviews for it, that was how Denise Shull's name came up and reviews for her book were also too good to ignore so I bought it.

I am defo doing those courses o, it is a lot cheaper than handing out my money to brokers abeg

I know that "aha" feeling. I found the peak performance course very intriguing, definitely a good investment for the serious investor/trader but will require some free time for full concentration.

Will plan to get it, perhaps the December holidays will be a good time to 'reprogram' myself. So next year my plan to branch out into options and stocks fully can be smooth. Saw the books in my box. Gracias!

onlineresource: you all need to watch this video...

Followed the series back in 2009, definitely an eye opener.

@naijababe

Ah, Denise Shull. Planned on getting her Market Mind Games audiobook (bought the hardcopy last year but didn't read and gave it to a friend) and I'm yet to locate an e-version. Psychology is one area a lot of investors (I especially) tend to ignore working on, those emotions have a way of messing with the mind and hurting one's focus ... late entries, early exits and all the impatience.

How do you know about these awesome titles? Goodreads? I'm currently on the peak performance course homepage. Love what I see there!

If you can locate the epub file, you can download Calibre (I use this) from http://calibre-ebook.com/ or you can convert to pdf online at http://www.ebookconverter.net/

natruetalk: na wa for this house, what is the essence of being forum member self asking house for comparison of price they just ignore my post. let me self join sidon day look member.

106.80 Oil.

You can also fetch the latest price by visiting - http://www.cx-portal.com/wti/oil_en.html

naijababe: I thought I send you Super trader on Sunday, no?

I will resend sha but check your FB inbox

I gotta say it's the best book I read this month. Part 4 is just exactly what I've been trying to focus on since the second quarter of the year.

"Your reality is shaped by your beliefs" - Thrilling section.

Momentum appears to be slowing down and Oil is currently overbought. I'd hold off from adding any further longs till resistance is breached (107.28 over here). This is a critical supply area, a retracement is very likely.

It depends on your symbol, on my end, CLU3 September Futures is still active, expiring next week. If you're trading the CL symbol (often shows as CL-MONTH), the september futures expired on sunday.

Of course the old charts will show price as at the time of expiration, simply move to the new one to see updated prices.

BuyStop Usd/Cad 1.03211, SL 50pips. First profit target 1.0424.

My crude sell limit at 106.69 triggered. SL 37pips. Expecting a retracement from this area back to 105.xx. Let's see how this goes. Will post charts on other pairs I'm watching in a moment.

If you've got an hour and a couple minutes, you may want to look at this. Useful if you trade price action.

http://vimeo.com/9597720

naijababe: Howdy mate. Would mind sending me all Al Brooks books that u have.

Sure thing. Will do that soon as I get on the PC. You might want to edit your email out, so the webcrawlers don't pick it up.

onlineresource: Haba...
you just leave us for here...
e no good ooo

Been off base, so I haven't been consistent online - only catching up whenever I could.

I agree with your analysis on Gold, took a similar short, but I'm going to TP at 1315.40, and how price reacts to the tentative trendline.

naijababe: Holding my EA short still, and oil long. I will be looking to add to my oil long shortly.

Where is Xhtml?

rozayx5:

I wouldn't be anywhere else on a great Monday Morning. Will post some thoughts on pairs I've been watching over the weekend, typing on mobile isn't great at all.

Hope Everyone had a great weekend. Time to make the best of the week's lineup.

Quite a week it's been. Closed some trades I've holding for days, won't be leaving anything over the weekend.

Hopefully I'll have more time during the weekend to finish up some material I picked up earlier.

Al Brooks, anyone heard of him? If you're talking price action, he's the man.

My sell pending order on the GPB/USD. Not triggered yet. (1.5521).

Just sold oil with a 40pip SL. TP 103.15.

frenchman2: just bought gold 1278.47 sl 1272.70 exit 1294
my system just generated the buy alert.
who's with me on this?

NB; Nothing is guaranteed. Price could just do the opposite and rubbish my analysis.

PRICE IS KING. FOLLOW IT WHEREVER IT GOES.

I'd wait for price to breach the 1285.xx resistance, . My buystop is at 1287.29.

SL hit on my crude trade yesterday, will be on the sidelines till the Oil Inventories.

GBPUSD what a ride, had my sellstop triggered at 1.5294, closed at 1.5215, Second buy position still running from 1.5322.

naijababe: Another bounce off the 61.8% level, will be waiting for confirmation on on oil, also a bunch of trendlines in the way. A close below 105.00 will see me sell for exit around 102.xx maybe even 99.xx

And the RSI is bearish and calls for further decline. Will have to be cautious if that buy order is triggered.

After taking a close look, I think there's a strong likely-hood price might touch the 38.2% level, then retrace down to 103.xx and below. Will be watching to see if there's an upside breakout of 106.97 or a retracement.

Closed my sell on crude (from 106.49). Placed a BuyStop @ 105.77 with a 30pip SL to take profit at 106.60.

A retracement at the 2nd Mid-Support Level. I reckon crude is ready for the move to 108.xx (Edit: Pending an upside breakout of 106.97)

Let's see if the current candle closes above the 1st support level.

naijababe: Here you go, note the weekly fib-lines and the bounce at 78.6% which one of the key ratio, on the 4h, see how the 38.2% level which also doubles as the weekly pivot holds.

I see your point. I would only go long if price breaches the 107.5x level though.

Till then I'm on the sidelines.

surveycash: Today's market can be described with one word - STAGNANT

Not so stagnant, I'd say. Some pairs are delivering some good amounts - AU for example.

Perhaps in times like these one has to step down to the lower timeframes to capture those short moves.

naijababe: Please don't short it anymore, it is brewing for the move to 110.xx in my opinion. If you use fibonacci and weekly pivots you will see why, I will post a chart in 30mins

Interesting. I was expecting price to retrace at the Intraday Pivot point (107.1) down to 105.xx.

See what I mean here:

[img]http://www.eia.gov/todayinenergy/images/2013.06.28/brentwti.png[/img]

You can read up on the differences here - http://commodityhq.com/2011/crude-oil-guide-brent-vs-wti-whats-the-difference/


SL hit on my last trade, oh well. I will be on the sidelines for now.

Tom29: Hey am doing it wrong. on my chart forextime. com the price is now 108.70 as time of posting. The symbol shows #BRNU3 (Brent crude futures, Sept 13)

No, that's different, I trade the Light Sweet crude. They sometimes follow similar schematics, just slight price differences but since I don't have a chart up I can't say much on that.

Tom29: You mean 108.85 ?

108.85? Are you looking at the September Crude Oil futures chart? The last time oil hit 108.xx was 2nd August.