majinice07: I love to be part of dis class but I have hanset not computer, will it work

tzetzefly: @OPs,
Can i convert my Cocoa Plantation to Forex Trading? I need to go online with my traditional specialisation....

maxibrainz:
i knew i would always meet this type of student in class

surveycash:


Dr, you made some valid points but you conclusion on the bolded was hasty.

Dr Eva: Don't quote me wrong! You and I know that only those who trade or have idea of fx can take advantage of this thread, you know well that a newbie that venture into live trading by jotting down points will & must cry! Foundamental & Technical Analysis can only be understood via video or live coaching. "A fool and his money will soon depart!"

rozayx5:



@op , well done, we need at least 50,000 live traders in Nigeria
so keep matriculating new students

if you need my service, am always available

Dr Eva: Don't quote me wrong! You and I know that only those who trade or have idea of fx can take advantage of this thread, you know well that a newbie that venture into live trading by jotting down points will & must cry! Foundamental & Technical Analysis can only be understood via video or live coaching. "A fool and his money will soon depart!"

rozayx5:



@op , well done, we need at least 50,000 live traders in Nigeria
so keep matriculating new students

if you need my service, am always available

caesaraba:

Boss, how can I meet you for tutelage? Pls respond.

rozayx5:

always on the beach in ,placing trades and, staring at the oil rigs in Akwa Ibom
nothing tastes better than monitoring your charts with fresh coconut water ans sea breeze

tutelage, hmmm, getting me offline is hard, the few that have met me know that
if you can host me, am ok

2sexy: you are right. I think surveycash should put up a disclaimer.

I studied forex back in 2007 but abandoned it because I had no PC at that time...

But I am starting all over again from scratch and I do not expect to learn everything fast. I give myself 5months to 1 year period. I am not in a hurry as such.

maxibrainz:
I think this is were babypips dot com should come in, newbies should go there graduate and comeback to follow this thread or better still save all the relevant pages of this thread were the important points are made while you train at babypips then after graduation you practice on a demo account till you understand every bit of forex trading well then you can go live *just my suggestion*

surveycash:
Lesson 3: Forex Basics cont'd

When Can You Trade Forex?

The Foreign exchange market is a 24 hours market; it opens on Sunday night (10PM NGT) and closes on Friday afternoon (10PM NGT). The Forex market is open 5 and a half days a week for trading.

However, even though the Forex trading market is open 24 hours a day, as a Forex trader you need to realize that certain times of day are more suitable for trading than others in order to devise an effective and time-efficient Forex trading strategy.


To maximize the number of Forex trading opportunities during these Forex market hours, it is important to be aware of the times when the market is busiest. This is the time that most Forex market trading activity occurs.

Even though there is no official open and close in the Forex market during the week, it can be broken up into 3 major Forex trading sessions - Tokyo , London and New York sessions.

However, although it seems not to be very important at the beginning, the right time to trade is one of the most crucial points required to be a successful Forex trader.

The best time to trade is when the Forex market is most active and therefore has the biggest volume of trades. A more active Forex market creates a good chance to trade and make some profit while a calm and slow market is literally a waste of time - turn off your computer and don't even bother trading Forex at this time.

The 3 major Forex trading sessions are:

Asian Session Forex Market Hours( Tokyo ): 00:00 - 9:00 GMT
European Session Forex Market Hours ( London ): 7:00 - 17:00 GMT
U.S. Session Forex Market Hours( New York ): 13:00 - 22:00 GMT

Asian Trading Session Characteristics:

Least volatile of the three trading sessions
Account for 15% of daily trading turnover
Typical 20 -30 pip moves

European Trading Session Characteristics:

Most volatile of the three Forex sessions
35% of daily trading volume
Typical 90 -150 pip moves

US Trading Session Characteristics:

2nd most volatile of the three Market sessions
Accounts for 25% of daily trading turnover
Focuses on US economic news

ruggedcuzz:
How do you measure if the volume is high enough to trade?

surveycash:

There are indicators we use and the chart will always show it. Just relax, poco-a-poco we'll get there.

rozayx5:



@op , well done, we need at least 50,000 live traders in Nigeria
so keep matriculating new students

if you need my service, am always available

Kaysalas:
@Rozay and Surveycash, Walahi! i dey gbadun the two of you guys for this NL. i swear, after Jesus Christ, na una two come next for my life.keep up the good work guys, Mo gbe IDI fun yin