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Forex Trading - Season 13 - Business (267) - Nairaland

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Re: Forex Trading - Season 13 by Nobody: 8:28pm On May 17, 2013
Kirinwa: Sellstop at. 1359

You are in the spirit grin
Re: Forex Trading - Season 13 by prowitin(m): 8:40pm On May 17, 2013
Good night guys. Still did not get it doh but its all good.
Re: Forex Trading - Season 13 by Kirinwa: 8:41pm On May 17, 2013
Kirinwa: Sellstop at. 1359

Triggered
Re: Forex Trading - Season 13 by Kirinwa: 8:46pm On May 17, 2013
Remember to close position before 10:00pm on Friday.Never leave any position open. That's my rule.
Re: Forex Trading - Season 13 by Kirinwa: 8:58pm On May 17, 2013
See money! lipsrsealed
Re: Forex Trading - Season 13 by Nobody: 9:02pm On May 17, 2013
Kirinwa: See money! lipsrsealed

Has to clear and close below the 78% level at 1356 today.
Re: Forex Trading - Season 13 by kcc515(m): 9:09pm On May 17, 2013
Kirinwa: Remember to close position before 10:00pm on Friday.Never leave any position open. That's my rule.

Just exited with 64pips, I'll manage that for the weekend :-) Entered at 1363. Another profitable week. Have a big weekend everyone...
Re: Forex Trading - Season 13 by infofirst(m): 9:12pm On May 17, 2013
eu buy at 1.2812 and 1.2817 n tp 1.295x n sl 12725 activated n pending sell at uj 103.3x n tp 100.3x n sl 104.00, trade to run till sl or tp taken n trade ur plan after planning ur trade n good weekend.
Re: Forex Trading - Season 13 by Nobody: 9:14pm On May 17, 2013
Kirinwa:

I use instaforex.Their liberty withdrawal takes 2 business days.Spread is 60 pips. If you open a volume of 0.01 about 14-16 dollars will be locked. With. $50 you can open 0.02 volume comfortably. Start with demo though.

If i understand you correctly, on instaforex, 0.01 in forex means 1 cent per pip for major currencies pair. Whereas in many brokers 0.01 means 10 cents per pip.
So a 0.01 lot size in instaforex gold should be around 10 cents per pip right?

Am planning to start trading it come july with $200 and use 0.01 lot or 1 - 5 cents per pip and a maximum of 40 to 50 pip stop loss
Re: Forex Trading - Season 13 by dagr8(m): 9:18pm On May 17, 2013
prowitin: Just to post here see rules. Lol any way no body has answered me ooo I need a channel indi that get set up automatically

[size=15pt] check d one attached below [/size]

Re: Forex Trading - Season 13 by Kirinwa: 9:35pm On May 17, 2013
Buystop at 1360
Re: Forex Trading - Season 13 by dagr8(m): 9:41pm On May 17, 2013
Pipsland78:
...Kashif, stagger, JAZE, etc. I miss those days...
[size=15pt] So u are FXking2012...y do u change ur moniker [/size]

martog:
ur posts were sorely missed...btw, here is list of traders declared AWOL: honeric, prettywoman, ivynwa, dboy, dgr8; (scratching my head) ok i will update the list later. meanwhile, make i take my sobo drink 4 now.
[size=15pt]Everly present sir...as a newbiie, i do more of reading and learning from d sideline wink [/size]
Re: Forex Trading - Season 13 by Kirinwa: 10:05pm On May 17, 2013
Am out.Good night.Happy weekend guys.
Re: Forex Trading - Season 13 by prowitin(m): 1:21am On May 18, 2013
dagr8:

[size=15pt] check d one attached below [/size]

Thanks a lot Bro
Re: Forex Trading - Season 13 by uncle2010: 3:34am On May 18, 2013
uncle2010: Beware of 1.27160. Is a strong resistance line for EU
Break of 1.27160 without consolidation will take us 1.23701.....That's next week analysis of EU from daily chart.
Re: Forex Trading - Season 13 by uncle2010: 4:14am On May 18, 2013
infofirst: eu buy at 1.2812 and 1.2817 n tp 1.295x n sl 12725 activated n pending sell at uj 103.3x n tp 100.3x n sl 104.00, trade to run till sl or tp taken n trade ur plan after planning ur trade n good weekend.
I respect your analysis but the BUY seem too early to me. By next week EU MUST touch 1.27828 before any upward move may start.... What I plan doing, is to enter SELL @ 1.28361 i.e current Price, take profit @ 1.27828. There is a great possibility of reversal to NORTH between 1.27828 and 1.27160. But nothing will stop me from taking a sell trade within that region. Anywhere, you have a big stoploss that can manage the downward before the reversal if there will be any.(MY ANALYSIS BASE ON EU DAILY CANDLE)
Re: Forex Trading - Season 13 by uncle2010: 4:38am On May 18, 2013
[b]GOLD:[/b]The last time GOLD visited the region between 1352.93 and 1316.30 was around 27th January 2011 before bouncing back. So selling GOLD within this region should be with caution. At that region I see GOLD bouncing back to NORTH....Consolidation at that region may be a sign of upward movement to North.
Re: Forex Trading - Season 13 by Nobody: 6:42am On May 18, 2013
uncle2010: [b]GOLD:[/b]The last time GOLD visited the region between 1352.93 and 1316.30 was around 27th January 2011 before bouncing back. So selling GOLD within this region should be with caution. At that region I see GOLD bouncing back to NORTH....Consolidation at that region may be a sign of upward movement to North.
Are you serious? So you didn't see anything like 1321.34 on you chart last month? Ok.
Re: Forex Trading - Season 13 by Nobody: 6:44am On May 18, 2013
uncle2010:
I respect your analysis but the BUY seem too early to me. By next week EU MUST touch 1.27828 before any upward move may start.... What I plan doing, is to enter SELL @ 1.28361 i.e current Price, take profit @ 1.27828. There is a great possibility of reversal to NORTH between 1.27828 and 1.27160. But nothing will stop me from taking a sell trade within that region. Anywhere, you have a big stoploss that can manage the downward before the reversal if there will be any.(MY ANALYSIS BASE ON EU DAILY CANDLE)
Using MUST in a Forex Analysis?? I've seen it all mehn.
Re: Forex Trading - Season 13 by infofirst(m): 8:54am On May 18, 2013
uncle2010:
I respect your analysis but the BUY seem too early to me. By next week EU MUST touch 1.27828 before any upward move may start.... What I plan doing, is to enter SELL @ 1.28361 i.e current Price, take profit @ 1.27828. There is a great possibility of reversal to NORTH between 1.27828 and 1.27160. But nothing will stop me from taking a sell trade within that region. Anywhere, you have a big stoploss that can manage the downward before the reversal if there will be any.(MY ANALYSIS BASE ON EU DAILY CANDLE)

Noted n will do d needful wen mkt open again n tanx. But note also dat u need to see inability of eu to take 2836 before u sell cos of d bounce before close of mkt.And then i suspect a retest of my tp region n price actn there to decide if uptrend is in or need to test last low n then lower but we r together sha uncleanna
Re: Forex Trading - Season 13 by Kirinwa: 9:53am On May 18, 2013
I have a winning strategy for trading EJ and GJ on Wednesday.It guarantees between 50-200 pips.
Re: Forex Trading - Season 13 by Nobody: 10:07am On May 18, 2013
House as a newbie, which of the following one pair trading do u advice i go with for now?
EU EJ Gold. I want to start trading once in a day or two solid trades a week to allow me keep to compounding and stop giving back my profit to d market. Thanks.
Re: Forex Trading - Season 13 by Nobody: 11:02am On May 18, 2013
learner1: House as a newbie, which of the following one pair trading do u advice i go with for now?
EU EJ Gold. I want to start trading once in a day or two solid trades a week to allow me keep to compounding and stop giving back my profit to d market. Thanks.
I'm assuming your balance is below $1K. If so, then you can focus on Gold. Only make sure you have a good strategy to combat its whipsaws and volatility. I said Gold because it allows you trade microlots and still turn decent profits at the end of the month. EJ good but most people trading it alone are at a stage where 100pips net profit at the end of the month is not bad for them. It may be hard for someone to rely on it and build account because it only rallies once in a while. A non-volatile day for Gold means 200pips move on average. On volatile days, 500pips is the minimum.
Well done bro.
Re: Forex Trading - Season 13 by Kirinwa: 11:48am On May 18, 2013
learner1: House as a newbie, which of the following one pair trading do u advice i go with for now?
EU EJ Gold. I want to start trading once in a day or two solid trades a week to allow me keep to compounding and stop giving back my profit to d market. Thanks.

Go for GbpNzd,EurNzd.Gold can mess your account if no experience. For the 2 pairs use 4-hour and check around 7am for direction.
Re: Forex Trading - Season 13 by fxbomovi: 12:22pm On May 18, 2013
@learner, i will advise you trade all major pairs plus gold if possible. But take only trades at confluence point, this will give you few but confirmed trades.
Re: Forex Trading - Season 13 by Nobody: 12:51pm On May 18, 2013
Piponomics:
I'm assuming your balance is below $1K. If so, then you can focus on Gold. Only make sure you have a good strategy to combat its whipsaws and volatility. I said Gold because it allows you trade microlots and still turn decent profits at the end of the month. EJ good but most people trading it alone are at a stage where 100pips net profit at the end of the month is not bad for them. It may be hard for someone to rely on it and build account because it only rallies once in a while. A non-volatile day for Gold means 200pips move on average. On volatile days, 500pips is the minimum.
Well done bro.
Bros i hail you o. You even know i will be using microlots. You just build my confidence again. What i saw in gold was not joke. It is support/ resistance and fundamentals. Sometimes you will see 50 pip flying in less than 1 hour when currency is yet to cover your spread cost. Waiting for my capital to hit $200 then work go start. Of course na 0.01 to 0.02 lots. Thanks boss.
Re: Forex Trading - Season 13 by Nobody: 1:10pm On May 18, 2013
fxbomovi: @learner, i will advise you trade all major pairs plus gold if possible. But take only trades at confluence point, this will give you few but confirmed trades.
I did but all i was getting was one step forward today and tomorrow back to zero. Overtrading, greed and emotion became the demons destroying my accounts. With gold trading, i will be more focus, trade wisely and best of all i will not be over trading. Once my daily target is met, i quit till another day if no set up i will not force the market. My study shows gold will give me clean account history.
Re: Forex Trading - Season 13 by Nobody: 1:19pm On May 18, 2013
Kirinwa:

Go for GbpNzd,EurNzd.Gold can mess your account if no experience. For the 2 pairs use 4-hour and check around 7am for direction.
You don't like me. The volatility of GN is worst than gold plus d high spread. I hate that pair. Copying and trying to be like others did not help me
Re: Forex Trading - Season 13 by uncle2010: 2:02pm On May 18, 2013
learner1: House as a newbie, which of the following one pair trading do u advice i go with for now?
EU EJ Gold. I want to start trading once in a day or two solid trades a week to allow me keep to compounding and stop giving back my profit to d market. Thanks.
As a learner you need to start with a currency pair that is predictable and profitable. And that pair is EU. As a beginner, do not trade currency pairs that are very volatile i.e GOLD. Don't allow greed to push you into trading GOLD. Is for pros who understands the market and can manage its volatility.
Re: Forex Trading - Season 13 by Kirinwa: 2:09pm On May 18, 2013
uncle2010: As a learner you need to start with a currency pair that is predictable and profitable. And that pair is EU. As a beginner, do not trade currency pairs that are very volatile i.e GOLD. Don't allow greed to push you into trading GOLD. Is for pros who understands the market and can manage its volatility.

I gave the dude best advice I could.Dude said I don't like him.I hope he appreciates yours.
Re: Forex Trading - Season 13 by Kirinwa: 2:10pm On May 18, 2013
uncle2010: As a learner you need to start with a currency pair that is predictable and profitable. And that pair is EU. As a beginner, do not trade currency pairs that are very volatile i.e GOLD. Don't allow greed to push you into trading GOLD. Is for pros who understands the market and can manage its volatility.

I gave the dude best advice I could.Dude said I don't like him.I hope he appreciates yours.Oh I forgot it is his money.
Re: Forex Trading - Season 13 by uncle2010: 2:17pm On May 18, 2013
Kirinwa:

Gold can mess your account if no experience.
Well said

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