₦airaland Forum

takeprofit: This is serious. can anyone confirm it?
https://www.nairaland.com/1301923/liberty-reserve-shut-down-owner-arrested

Hope for the best, for now it seems they've gone AWOL. Owner Arrested.

Site not loading. I hope this is resolved quickly.

No thanks to the booming technology sector.

ayox2003: Thanks bro. Good read.

But history does repeat itself very very well. I'm reading about cyclic trading ATM and I'm amazed at the way these prices correlate with previous movement and how they sorta form a cycle. Little wonder George Soros could tell u what the price of Cable will be in the next 4years. Once again, thanks.


Frawzey

Ah, that's very interesting. However, it does require a lot of data for it to be efficient.

This should be the last bite for me today on gold.

@martog Have wish all the best and many more years!

Took a sell position at 1391.20 when my alert (at 1392.05) went off.

Support at 1386.67 still holds. If that's broken, the move should hit 1380.00.

Sell stop 1385.00, if you're up for it or don't have a currently running sell position.

Stumbled on this:
http://www.forexlive.com/blog/2013/05/23/the-nikkei-correction-is-perfectly-correlated-to-1987/

History rarely repeats itself in these markets but it's still a good outlook.

I took a peek (#CL), I wouldn't buy until it breaks 94.410. Best to place a Buy Stop at 94.50 if you're up for it, IMO.

So everyone's on the commodity/futures side of things now?

Prof Corruption: More like 7419! How can an emergency number be used for "tax advices, address finders, health histories, record back-up, weather forecasts, reverse phone tracker, and jobs finder"

My point exactly. If it's an "Emergency Number" why not let it stay an emergency number?!

Time to call it a day. What a golden thursday.

Good Development.

BUT can someone explain this to me? This is how we "Go LIVE?"

gerald2: You mean 117 pips or 1017 pips Which platform are you using, heavenly platform or same MT4 I use?

And you think I'm making false claims?

usmanktg2: then let them deploy JTF

vosquare: 4UK YAHOO.. GMAIL IS THE BEST

You sure you both read the post?

naijababe: Disagree, but we can have this conversation another time.

I'd like to hear your basis. IMO, the higher the volatility, the higher the uncertainty, which can lead to costly mistakes.

With this news out, the number will only but increase.

Volatility = Risk. Come in with an eagle eye and be on the watch.

I've gleaned 1017pips from gold today.

And I'm currently scalping between 1393.18 - 1387.29 taking 50-80 pips here and there, awaiting a breakout in either direction.

Birikiti: @Naijababe could you kindly enlighten me on the Gold vs USD question? Which one will investors run to when they want to protect their wealth? What drives Gold, risk or risk aversion? Please I need your experienced point of view.

Thanks

It varies. At the moment the US Dollar is the safe haven.

naijababe: Careful with installing platforms on your phones, can be a recipe for disaster if you are not disciplined.

I don't know how others do it, but I'd only use a mobile platform to "keep an eye on open positions" - not trade. I need the charts as large as possible so I see all that needs to be seen.

Compare to this second shot. [Attached Below]

Now you tell me what would have happened supposing you had a stop loss in there?

I'll answer those two questions above. However, let me chip in something. I dug out an email I received last year sept from a "panicked" trader.

He was on Silver, 12 Sept to be precise. Notice the sharp drop in price to below 33.35? I confirmed on my end that day and told him there was no such spike - even confirmed from a couple other traders.

Most of you can shift back in time on your MT4's (simply hit "Enter" on the chart and type in the time to go to i.e DD.MM.YY, you can also type in DD.MM.YY HH:MM to jump to the exact hour and minute) and confirm.

Screenshot he took attached. (I've blanked out his account number for privacy)

A vast majority of the guys at the helm of these things haven't stepped foot on Nigeria. 80% of Nigerians can't get N163 per day?

The poll interviewed selected adults who own mobile phones and did not profile respondents in other ways, such as occupation, gender, age and specific locations.

This how they collect the data?

Looks fake to me.

No way would they be so foolish. Remember you can manually "check in" on any location on facebook without physically being there.

Texas.Cowgirl:
Can't open his FB at work cuz the USA is very serious about terrorism.

Can't have my search/history attacked to Nigeria's finest.

Reminds me of an incident where a professor was detained for being in possession of terrorism materials. He's a terrorism studies professor.

Pipsland78: That's his live account, this is not the first time he would come here shouting all sorts of alerts and flashing his account only to be wiped out later. He's been wiped out several times in the past but unfortunately he hasnt learnt still. What a sad story it is. I've always said FX trading is not meant for everybody, some folks just dont have the discipline to engage in this business.

But if it's a demo account then he should go ahead and have fun in the market.

Ah, that's quite strange. Another newbie with a lot of money for the brokers - they need customers like him.

I was once like that. I turned 5,000 to 457,000+ on a demo account and said to myself - "Hey, I could do this, this isn't so hard".

So I opened a live account, put $500 in, and it didn't stay till the next day.

Pipsland78: This dude is real entertainment, I wont be surprised if this his account is wiped out today

My first hinge is that's a demo account...but I could be wrong.

No technical analysis, no "basis" on why trades are opened?

Who gambles lots that way with real cash?

Kirinwa: In forex, quality trades should be preferred over quantity trades.

Exactly.

In Forex trading, it all boils down to one thing in the end.

How much you make when you're right, and how much you lose when you're wrong.

Odionastron: Please I'ld like to get some enlightenment from the house.

Which contains lesser risks(assuming you have enough bankroll): Trading on Monthly time frame as against trading on lesser time frames like 1hr, 5mins etc.

Please I dont want any answer related to trading technique--Try to avoid that. Thanks.---though you could add it, if you can't just avoid it.

Hmm. Well let's look at it from this angle. If you're on the monthly timeframe, you'll basically be analyzing where the price would go in a month's time, same with the daily, four hour and so on.

Now, the shorter timeframes tend to move faster and is plagued by lots of noise and volatility. The higher you go the smoother it becomes. You have to be aware that "speculating" where the price would be in a month time would take you a longer time to calculate (and get good entry opportunities) than on the lower time frames.

But you'll have more time to do your analysis (and get it right), and won't take rash decisions due to erratic price movements. So it's riskier (in the sense that you're bound to make mistakes) to trade lower time-frames.

Overall if depends on your trading plan/pattern. If you're scalping, you have no business with anything over 30mins. But longer term traders would want to get a broader perspective.

PS: If you're not trading directly on the interbank via an ECN broker, don't think of scalping. The spreads would take you out faster than you can say "No Way".

I'll post advantages of both models and other information.

mayten30: I remember when I saw like 5 topics concerning market makers and ecns and others and those that talked about the topics where different 5 top forex traders including george soros and one shocking thing was that they all had different views about the topic and I realized that no one can be sure they are right but can just share their opinion so you can spare the enlightment to the new-bies but concerning market makers or ecn as long as I have a broker that is not cheating me and am making my moolah what else remain again?I remembered when someone also told me that trading on yen pairs is rubbish and it is gambling and I met another forex trader that has being trading on only uj for the past 4 years and is earning at least 80 percent monthly with good compounding

People will always have opinions. That perception comes mostly due to the Japanese government intervening a lot.

The export sector is the lifeblood of Japan so it's no surprise if they step in to devalue the yen.

But from my understanding, They'll only consider if it drops close to 77, If you recall, last year, they intervened around the 75.50 and 76.50 range on the USD/JPY.