Forex Trade Alerts - Business (62) - Nairaland
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| Re: Forex Trade Alerts by JAkpayen(m): 4:34am On Jul 09, 2011 |
naijababe: Same same too! |
| Re: Forex Trade Alerts by Nobody: 8:16am On Jul 09, 2011 |
UP Gold  |
| Re: Forex Trade Alerts by honeric01(m): 9:02am On Jul 09, 2011 |
naijababe: Here comes opportunity cost, which one is more valuable to you? your day job or trading forex?  JAkpayen: Same with you. |
| Re: Forex Trade Alerts by bidemi12(m): 10:37am On Jul 09, 2011 |
A lesson i learnt the hard way and i pray nobody should ever have to go through what i went through is, never, ever believe that forex will be your only source of income, unless you have between 50 to a 100k as equity. As bouyant as i am i cant even dream of doing that. we are all human, you never know when your greed will kick in and reduce your account to a heart shredding level. It will save you a lot of headache if for now one thinks of forex as extra gas money. Ordinarily i would never comment on such a thing but the earlier comment is what newbies see, believe, and eventualy which gets them into serious personal, proffessional and financial problems. Because like i said, from experience if you are not careful, forex can ruin your life. I dogded a bullet many, many years ago and i pray no one has to grow through what i went through to learn this trade. |
| Re: Forex Trade Alerts by bidemi12(m): 11:10am On Jul 09, 2011 |
Anyway, back to business. As said in my previous post, the GBPUSD is in a downtrend and lower lows has been formed on its way down from it's first retracement. But, the pattern is not complete yet, and we are hoping for a retracement that will break the trendline formed by the lower lows and it looks like the retracement has begun. likely points of entry for a sell are 16303 and 16343. These points are both crucial retracement and expansion limits that price reacts to. hopefuly upon reaching these points, we shall enter two lots exiting the first at price 15906 and we will let the other run to price 15625 (whenever that happens, just set and forget). happy pipping people |
| Re: Forex Trade Alerts by bidemi12(m): 11:17am On Jul 09, 2011 |
breaking down the USDCAD. as said weeks back, we openend positions on this pair on the 20th of may after a break of the lower lows formed on its way down from it's first retracement with a target 9500 and it has been performing admirably. we exited the first lot at price 9569 and we will let the other run to price 9500, which should be happening anytime soon. happy pipping people. |
| Re: Forex Trade Alerts by bidemi12(m): 12:00pm On Jul 09, 2011 |
THE LOGIC OF HOW I TRADE. believe it or not, i have not had a losing trade in 4 years. sounds unbelieveable doesn't it. well if you add a little logic into trading then you will not have any problem. I like to call my strategy the '' the logical, symetrical, and finobachi trading strategy". before i break it down let me itemize some facts i have come to realize. FACT; before a reversal, a symetrical triangle forms. FACT; price will retrace to the 61.08 fib level or expand from a retracement to an extention depending on what is happening in the next larger time frame. FACT; to fully confirm a trend change, price will form lower lows or higher highs with trendline breaks of the highs or lows formed. FACT; because price is falling in one time frame does not mean that it isn't rising in another. So, knowing all this, how do i apply it? simple; you need patience. forex was here before you got here and it will still be there after you leave, abi? these facts happen every day and in every time. (but it is better to trade the 4hr TF and up). now to the most important reason i dont lose money. since i know all these facts and i know that after a symetrical triangle, price can turn from a retracement to an expansion or from an expansion to a retracement (depending on what is happening on the next time frame) i simply plot out all the retracement and expansion points in pips, reconcile that with my equity and simply place the trade. Let's use the gbpusd as an example. the 61.8 on its first retracement is 16547 more often than not price will not get there but you never know. what with news and crazy traders who like to trade against trend, it just might get there. so if i enter the trade at 16306 or 16353 i know that price might go up to 16547 with is highly unlikely but i give room for that and even add 200 pips extra for good measure. so if you do the math i would need about four hundred pips as stop loss. better still, lets say 500 pips. depending on your equity, 500 pips could be $500 or $5000. if you cannot risk $500 dollars to make money in this game then you shouldn't be in it in the first place. I should also add that if my parameters are'nt met i dont take a trade. knowing that gbpusd is in a downtrend is not enough. it must fufill every rule for me to take a trade. downtrend on gu was confirmed on the 22nd of june but that does not mean i will take the trade. it has to still fufill other requirements. Happy pipping people |
| Re: Forex Trade Alerts by Nobody: 12:10pm On Jul 09, 2011 |
Hi every one, be off on Gold for nest week, cant predict the pattern now, but what do u Guys think on NZDUSD, Am planning to apply sell next on Sunday 15 minutes after the market opens |
| Re: Forex Trade Alerts by bidemi12(m): 1:08pm On Jul 09, 2011 |
breaking down the Nzdusd; Downtrend for this pair was confirmed on the 13th of march 2011 but like i said earlier the retracements can turn to expansions and vice versa. on this pair it did. it has met it's first expansion point at price 8320 but it is highly unlikely that it will eventualy reach the next expansion point. If trading long term, sell 3 lots and exit the first at 7810, the other at 7333, and let the third run to 6813. happy pipping people. |
| Re: Forex Trade Alerts by Nobody: 2:59pm On Jul 09, 2011 |
bidemi12:@ bidemi, with due respect i make bold to say that because u could not do a thing does not make it impossible for others. there are people who live on this trade. you really dont need more than $5000 and good money mgt to make ends meet in this game. lets imagine a scenerio: if i bank an average of 60 pips a day and lose 30 pips max on a worst day. assuming i take 10 trades in a week at an average of 2 per day and win 5 ( 5 X 60)= 300pips and lose 5 ( 5 x 30 )= 150 i will be left with 150. now assume i trade at $3 a pip,that will be $450 in one week. if am able to achieve this twice a month that will be $900 which am very sure is the salary or more than the salary of an average banker in Nigeria. the question, i think should be, 1, what is the remuneration from your day job and what is your average earning from forex trade in a month 2, do u derive joy from doing your day job or its a normal rat race 3, is there a career prospect in the day job or u plan on becoming a CTA when answers are provided and examined well ,then a decision can be made |
| Re: Forex Trade Alerts by Nobody: 3:02pm On Jul 09, 2011 |
aguiyi: Abeg leave Bidemi alone, i dont have to tell him how i started, all man with his opinion |
| Re: Forex Trade Alerts by bily(m): 4:29pm On Jul 09, 2011 |
@ bidemi, U!!! so you still dey this planet, na wa o, e no good o, nice to hear you are doing great though, |
| Re: Forex Trade Alerts by all4info: 4:33pm On Jul 09, 2011 |
Hi Folks! Forex is REAL only when you know to trade and follow the trend. |
| Re: Forex Trade Alerts by edmarkee: 4:34pm On Jul 09, 2011 |
Follow the trend and you will be successful[b][/b] |
| Re: Forex Trade Alerts by viklam: 2:46am On Jul 10, 2011 |
Alright guys, let me join you in sending profitable trading alerts on this thread. Actually I trade 4 time frame mostly on my live account & its been profitable. I decided not to trade on friday(08/07/11) because of NFP. Hopefully this week I would be home and dry. |
| Re: Forex Trade Alerts by honeric01(m): 9:01am On Jul 10, 2011 |
bidemi12: Bro, did you see and read my questions? do you mind responding? it's urgent and i need to know how to go about it. Regards |
| Re: Forex Trade Alerts by Nobody: 9:18am On Jul 10, 2011 |
bidemi12: Each to his own. Every trader has a lesson they learnt the hard way. I have learnt my own and intend to become independent of 9-5 soon honeric01: Trading forex gives more money but my day job prevents idleness. I'm afraid of being idle |
| Re: Forex Trade Alerts by honeric01(m): 11:14am On Jul 10, 2011 |
^^^^ I see but maybe you should try setting up a small scale business if you are afraid of being idle? that might help because i am also in the process of doing just that too. |
| Re: Forex Trade Alerts by Blogicon1(m): 4:32pm On Jul 10, 2011 |
Nice one @ y'all. The greatest achievement in life, they say, is your ability to do what some people think you can't do. With that said, lemme drop my view on Usd/Jpy for you guys' perusal. Have a nice Sunday. I'm comming to you guys this evening with a high probability trade setup on the Usd/Jpy forex pair. As some of you might know, I normally trade pure Price Action i.e a chart clean of indicators - using only horizontal levels, trendlines and candle sticks. While going through my price action analysis this evening, I noticed this good setup and thought I'd share it with you guys. This is a very nice set-up with a profit potential of a 1:4 Risk:Reward ratio. However, be sure to apply good money management if you are going to be taking this trade with me and the rest of my team. Here it goes, As has been evident on the daily charts, the Usd/Jpy pair has been in a bit of an uptrend lately. Tuning into the 4hrs chart, you would see that strongly respected uptrend line (as highlighted in the attached chart below) that the market has exhibited great response to on all 4 attempts at testing it - it tells us that we are in a safe uptrend. On the most recent test of the 4hr trend line (i.e @ the close of last week's market) a very well defined bullish rejection pinbar formed off the level - which signifies rejection of lower prices. That is our buy signal. The way that the my team and I would be trading this setup at market open this evening is to enter a long position @ the 80.60 level (i.e pending the abscence of a large gap @ open). Our Stop Loss order would be safely hidden under the uptrend line (as well as the horizontal level) at 80.47, while we would be looking up to a Take profit of 52 pips @ 81.13 level. See the attached chart for clarification and more details. Just as I said before, be sure to apply proper money management if you would be taking this trade. Just as always, you agree to take this trade absolutely at your own risk; I would not be held responsible for any losses incurred (if any). However, for the records, I would be taking this trade on my live account as well as that of my investor. Safe trading and have a nice trading week ahead. Do$h Capitals.
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| Re: Forex Trade Alerts by blogicon: 4:38pm On Jul 10, 2011 |
Nice one @ y'all. The greatest achievement in life, they say, is your ability to do what some people think you can't do. With that said, lemme drop my view on Usd/Jpy for you guys' perusal. Have a nice Sunday. I'm comming to you guys this evening with a high probability trade setup on the Usd/Jpy forex pair. As some of you might know, I normally trade pure Price Action i.e a chart clean of indicators - using only horizontal levels, trendlines and candle sticks. While going through my price action analysis this evening, I noticed this good setup and thought I'd share it with you guys. This is a very nice set-up with a profit potential of a 1:4 Risk:Reward ratio. However, be sure to apply good money management if you are going to be taking this trade with me and the rest of my team. Here it goes, As has been evident on the daily charts, the Usd/Jpy pair has been in a bit of an uptrend lately. Tuning into the 4hrs chart, you would see that strongly respected uptrend line (as highlighted in the attached chart below) that the market has exhibited great response to on all 4 attempts at testing it - it tells us that we are in a safe uptrend. On the most recent test of the 4hr trend line (i.e @ the close of last week's market) a very well defined bullish rejection pinbar formed off the level - which signifies rejection of lower prices. That is our buy signal. The way that the my team and I would be trading this setup at market open this evening is to enter a long position @ the 80.60 level (i.e pending the absence of a large gap @ open). Our Stop Loss order would be safely hidden under the uptrend line (as well as the horizontal level) at 80.47, while we would be looking up to a Take profit of 52 pips @ 81.13 level. See the attached chart for clarification and more details. Just as I said before, be sure to apply proper money management if you would be taking this trade. Just as always, you agree to take this trade absolutely at your own risk; I would not be held responsible for any losses incurred (if any). However, for the records, I would be taking this trade on my live account. Safe trading and have a nice trading week ahead.
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| Re: Forex Trade Alerts by honeric01(m): 7:18pm On Jul 10, 2011 |
Nice one Big icon, i saw the post, no mind the spambot jor |
| Re: Forex Trade Alerts by Nobody: 8:22pm On Jul 10, 2011 |
@ blog icon 13 pips sl seems very tight in my view and could easily be hit. you are staking 13 to aim at 52 ,the ratio is obvious to me. happy piping though |
| Re: Forex Trade Alerts by honeric01(m): 9:23pm On Jul 10, 2011 |
^^^^ Well you can as well modify yours to 1:3 Maybe 20 SL for 60TP? |
| Re: Forex Trade Alerts by Nobody: 9:44pm On Jul 10, 2011 |
Are we there yet? |
| Re: Forex Trade Alerts by onemyhome: 10:09pm On Jul 10, 2011 |
Hi Bidemi, new to this thread and relatively a newbie in fx trade. So what's the outlook this week on the majors and the G7 crosses. Will appreciate your response. |
| Re: Forex Trade Alerts by blogicon: 10:39pm On Jul 10, 2011 |
aguiyi:Nice response Aguiyi. Before I go on to say anything, I want to point out that the open gap was quite too large. Would be watching the next 4hr candle close though to see if there's still a chance of the set-up still being valid. In response to your question I'd say that the 13 pips SL was 'perfect' given the condition that the setup was formed in. I 'safely' hid the SL under 2 significant support levels of which if is broken, then the trade set-up becomes invalid. The strategy of hiding your stops behind solid levels is a nice one that works perfectly in almost any market condition - given that your setup is valid. Contrary to what I think you might be thinking, I didn't just 'force' in the 15 pips stop to give a nice R:R - it's what the market presented. On the flip side, just as Honeric suggested, you can easily tweak your own entry to a 1:3 by placing a 20 pips stop. I hope I'm able to clear your doubts. Have a nice day! |
| Re: Forex Trade Alerts by blogicon: 10:46pm On Jul 10, 2011 |
honeric01:Nice tip there Honeric1. No mind d yeye bot. D stuff dey vex me die! Although the wide open gap seems to have altered with the trade entry parameters, I'd be on the look out for the close of the 4hr candle to know if the set-up remains tradeable. Have a nice trading week, and GO SLEEP!!!!!!  |
| Re: Forex Trade Alerts by honeric01(m): 11:23pm On Jul 10, 2011 |
^^^^ You're welcome and make u self go sleep jor  |
| Re: Forex Trade Alerts by JAZES(m): 3:40am On Jul 11, 2011 |
Una no dey sleep?  |
| Re: Forex Trade Alerts by methodman(m): 5:09am On Jul 11, 2011 |
Good to be back on this thread guyz. Been off the market for a while. Now back and better. I have been following ur posts anyway. I am so happy to see bidemi12 online. I will like to get across to you sir. Want to get more insights from your trading styles. I know of ur busy and tight schedule. U can reach me on info@shebayhost.com. I also have something VERY important to discuss with you. Will be expecting to read from you boss. To our online success. Happy Pipping. Good to be back on this thread guyz. Been off the market for a while. Now back and better. I have been following ur posts anyway. I am so happy to see bidemi12 online. I will like to get across to you sir. Want to get more insights from your trading styles. I know of ur busy and tight schedule. U can reach me on info@shebayhost.com. I also have something VERY important to discuss with you. Will be expecting to read from you boss. To our online success. Happy Pipping. |
| Re: Forex Trade Alerts by methodman(m): 5:12am On Jul 11, 2011 |
Good to be back on this thread guyz. Been off the market for a while. Now back and better. I have been following ur posts anyway. I am so happy to see bidemi12 online. I will like to get across to you sir. Want to get more insights from your trading styles. I know of ur busy and tight schedule. U can reach me on info@shebayhost.com. I also have something VERY important to discuss with you. Will be expecting to read from you boss. To our online success. Happy Pipping. Good to be back on this thread guyz. Been off the market for a while. Now back and better. I have been following ur posts anyway. I am so happy to see bidemi12 online. I will like to get across to you sir. Want to get more insights from your trading styles. I know of ur busy and tight schedule. U can reach me on info@shebayhost.com. I also have something VERY important to discuss with you. Will be expecting to read from you boss. To our online success. Happy Pipping. |
| Re: Forex Trade Alerts by Nobody: 5:59am On Jul 11, 2011 |
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. On special vigilance next week, seems like most of you did well, congrats to all the successful hunters and better trading days ahead to the not so successful 
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