Forex Trade Alerts - Business (64) - Nairaland
Nairaland Forum / Nairaland / General / Business / Forex Trade Alerts (77234 Views)
Forex Trading - Season 15 / Forex Trading - Season 14 / Forex Trading - Season 13 (2) (3) (4)
(1) (2) (3) ... (61) (62) (63) (64) (65) (66) (67) ... (101) (Go Down)
| Re: Forex Trade Alerts by honeric01(m): 6:52am On Jul 12, 2011 |
bidemi12:  |
| Re: Forex Trade Alerts by Nobody: 6:52am On Jul 12, 2011 |
Are we there yet?  |
| Re: Forex Trade Alerts by bidemi12(m): 6:56am On Jul 12, 2011 |
A little forex education titled; the logic of taking a trade with two or more lots. lets say that price made a 300 pip move. most traders see just that, a 300 pip move. But in reality, a 300 pip move could very well be a thousand pip move. we have already established that the best entry point is the 61.8 fib level, that is, after a trend has been confirmed, so, we enter two lots with our set targets in place with one target shorter than the other. Now, more often than not, price will retrace many times over so, having closed the shorter tp, we wait for price to hit the next tp point but as it always happens price will never go straight to it's destination (due to crazy traders who like to trade against trend and news) but go back and forth, each time to a 61.8 level within the defined trend. So, each time it retraces, we enter one lot to close out at another expansion level. The key here is to wait for price to come to your initial entry point or close to it and just plot another fib level so long as the last low was broken. with all this movement happening, remember you still have one lot running and still in the game. It's like shooting ducks in a barrel. Happy pipping people |
| Re: Forex Trade Alerts by JAkpayen(m): 7:33am On Jul 12, 2011 |
bidemi12: Not yet, gold still in its uptrend |
| Re: Forex Trade Alerts by JAZES(m): 8:48am On Jul 12, 2011 |
Europe discord threatens further euro losses, UK data set to show inflation steadied, while weak pound sees no change in trade deficit, German June CPI matches May's at 2.4%, Japan leaves rate policy unchanged, FOMC minutes. Continued discord amongst EU leaders with respect to the best way to resolve the current crisis in Europe continues to undermine confidence in the single currency. Talk of voluntary private sector participation appears to have run into a cul-de-sac. With Germany refusing to guarantee peripheral bonds and the ECB refusing to buy them a solution looks a long way away. As a result Spanish and Italian 10 year bond yields have surged to dangerous levels for both countries, 6% for Spain and 5.7% for Italy. Hopefully todays resumption of the meeting yesterday will come up with something more tangible than the discord that saw the meeting break up last night, with a vague promise to enhance and improve the flexibility of the EFSF. This could be in the form of using bond buybacks to ease Greeces debt burden according to Olli Rehn. UK inflation data for June is due out and is unlikely to offer much in the way of comfort to Mervyn King and his MPC cohorts with CPI expected to remain at 4.5%, with core at 3.3%. RPI is also not expected to slip back wither remaining at 5.3%. These figures will bring the inevitable call for a rise in interest rates and also bring about the response that a rise in rates would kill off any recovery. The weak pound isnt expected to have helped with respect to the May Trade balance data either with expectations that the deficit would remain around the 7.3bn mark. Before the UK data, German CPI data for June was unrevised unchanged m/m, and rose 2.4% y/y from May's +2.4% . The Japanese rate decision overnight didnt offer much in the way of surprises leaving rates unchanged, however it cut its growth forecast for the fiscal year to 0.4%, from 0.6% but was slightly more upbeat about its economic assessment as the economy recovers from the after effects of the March earthquake and tsunami. In the US the May trade numbers are also expected to remain elevated, around $44bn, while the release of the latest FOMC minutes isnt likely to offer too many clues about future policy steps from this months Fed meeting. |
| Re: Forex Trade Alerts by JAZES(m): 10:54am On Jul 12, 2011 |
honeric01: No problem man. Omo market dey vex now and of course pips dey rain down |
| Re: Forex Trade Alerts by honeric01(m): 11:17am On Jul 12, 2011 |
^^^^^ Make i no lie, EJ and UJ just whooped my azz o  , but its game on. (the sharp fall on these 2 pairs was not cool at all) |
| Re: Forex Trade Alerts by Nobody: 12:19pm On Jul 12, 2011 |
honeric01: Sorry o, what happen may be the repeatation of what happened on the 17th of April 20011 , base on Weekly candle, sharp up trend back |
| Re: Forex Trade Alerts by honeric01(m): 12:31pm On Jul 12, 2011 |
odiaero: I guess i am not alone either, i remember you also wanted to long EJ few days ago, did you? |
| Re: Forex Trade Alerts by austinedu(m): 12:44pm On Jul 12, 2011 |
Hi guys pls can anyone tell me the difference between pricing in points and pricing in pips when using the MT4 Platform. Thanks |
| Re: Forex Trade Alerts by Nobody: 12:48pm On Jul 12, 2011 |
honeric01: That was yesterday, but i change my mind and did Gold, but now, am on long |
| Re: Forex Trade Alerts by Nobody: 12:49pm On Jul 12, 2011 |
austinedu: What are u pricing, is you platform selling tomatoes? |
| Re: Forex Trade Alerts by honeric01(m): 1:01pm On Jul 12, 2011 |
odiaero: odiaero: Hope you remember this statement? anyways wether u lost o or you didn't lose, e no concern me before EUR/USD The powerful short-term downtrend has room for more weakness, and the 1.3893 area is the immediate target. This week's completion of a bear pennant continuation pattern has unleashed a very strong bear wave, and further downside towards 1.3850 and a 1.618 Fibonacci extension target at 1.3792 cannot be ruled out on concerted EUR weakness. Regaining ground above 1.4063 is required to provide temporary respite, but scope for corrective gains is limited. |
| Re: Forex Trade Alerts by honeric01(m): 1:01pm On Jul 12, 2011 |
GBP/USD The trapdoor below 1.5911 has been forced open, and a sharp bear wave towards the 1.5650/75 area is expected. The wider head-and-shoulders top pattern suggests there is longer-term scope for the 1.5380 area, as GBP bear momentum is expected to increase. Resistance at 1.5935 will look to cap corrective gains, but upside scope is limited. USD/JPY The sharp setback is putting pressure on the 80.00 level, and there is scope for more USD weakness. USD bears have the 79.84 target in their sights, following Monday's lower high at 80.83, and the June 8 reaction low at 79.69 has become vulnerable. A recovery above 80.50 is required to question the bearish outlook, opening 80.83. AUD/USD The corrective setback is approaching key support at 1.0570. However, AUD bulls are expected to defend this important support area, that technically stretches down to the 1.0545 area. The wider picture sustains the recently completed bull wedge continuation pattern, and a recovery above 1.0666 would prompt further gains towards 1.0725 and 1.0791. There you have it. |
| Re: Forex Trade Alerts by austinedu(m): 1:03pm On Jul 12, 2011 |
odiaero: Tomatoes would not have been a bad idea seeing the way the EUR/USD has just massively retraced. Anyways, I want to set a trailing stop loss of 50 pips on metatrader for EUR/USD but my platform displays the pricing in points, so I don't know if I should use 500 points or if 50 points is the same thing as 50 pips on metatrader. I have been using marketiva before now. My lot size is 0.01 |
| Re: Forex Trade Alerts by Nobody: 1:06pm On Jul 12, 2011 |
@ honoric1, i said yes that was yesaterday, but later change mind to Gold, so i was able to avoid it, but now on sweet long from the bottom, and dont forget am a scalpper, assuming i buy, i still would have scalp on profits |
| Re: Forex Trade Alerts by Nobody: 1:09pm On Jul 12, 2011 |
austinedu: If you have trailing stop software, just put 50 pips, it will turn itself |
| Re: Forex Trade Alerts by honeric01(m): 1:13pm On Jul 12, 2011 |
odiaero: Which one be honoric1?  |
| Re: Forex Trade Alerts by donguutti: 2:25pm On Jul 12, 2011 |
austinedu: price in point and price in pips is almost the same unless ur is using fractional pips lyk fxpro or dukascopy, e.g normal quote looks lyk this 1.6145 but fractional pip quote looks like this 1.61456, so if you broker offers the first format use the metatrader default trailing stop of 50pips, but to get its equivalent in the second format u multiply by 10.i.e 500, market extremely volatile whipsaws everywhere daily average price changes > normal, verdict doing nothing |
| Re: Forex Trade Alerts by cptyaya: 3:34pm On Jul 12, 2011 |
bidemi12:@bidemi12 you've really been doing a good job. I've been following you for sometime now. Keep up the good work. By the way, what do you think of the current EU retracement. |
| Re: Forex Trade Alerts by austinedu(m): 3:55pm On Jul 12, 2011 |
@JAZES The EU meeting draws no resolution today. What is your take on the impact of their inability to resolve issues vis-a-vis the pending US - FOMC Minutes? |
| Re: Forex Trade Alerts by bidemi12(m): 5:01pm On Jul 12, 2011 |
cptyaya: Do you know why i suscribe to always entering a trade with 2 or more lots? well, after entering at the 61.8, upon confirmation of a trend, you would exit one lot at an expansion level and just sit back and wait for the other lot to go hit target. but if for some reason price retraces (as it always does) it is a perfect opportunity to enter the trade again. my hope is that EU retraces to 14293 upon which we will enter another lot. for a tp of 13843. But with the full understanding that eu is in a downtrend and might not get there and just proceed to the expected target, but you already have one lot running and in the game so no qualms. |
| Re: Forex Trade Alerts by honeric01(m): 5:07pm On Jul 12, 2011 |
^^^^ What do you have to say about UJ? got any "update" on it or you still think 82.xx should have been its destination and not 79.3x it got to? |
| Re: Forex Trade Alerts by JAZES(m): 6:46pm On Jul 12, 2011 |
austinedu: On FOMC, i think the market will search for clues regarding monetary policy and the possibility of an additional round of QE(i.e quantitative easing) or other type of easing (rate caps on 2-3 year or 10 year bond). The market will probably not react much to this event as most details were already covered in the press conference right after the rate decision. |
| Re: Forex Trade Alerts by JAZES(m): 6:53pm On Jul 12, 2011 |
Quantitative Easing (QE)is a government monetary policy occasionally used to increase the money supply by buying government securities or other securities from the market. Quantitative easing increases the money supply by flooding financial institutions with capital in an effort to promote increased lending and liquidity. More often than not Central Banks tend to use quantitative easing when interest rates have already been lowered to near 0% levels and have failed to produce the desired effect. The major risk of quantitative easing is that although more money is in the economy but there is still a fixed amount of goods for sale. This will eventually lead to higher prices or inflation. So as much as Govt is trying to pump more money to the economy,the fear of inflation always makes them think twice.More money chasing few goods will lead to inflation. |
| Re: Forex Trade Alerts by Nobody: 7:05pm On Jul 12, 2011 |
odiaero: |
| Re: Forex Trade Alerts by honeric01(m): 8:07pm On Jul 12, 2011 |
When is EU and GU resuming their down movement? |
| Re: Forex Trade Alerts by bidemi12(m): 9:17pm On Jul 12, 2011 |
honeric01: Over time, eventualy with enough exposure and  experience, you will know the difference between news effect,technical effect and when a retracement turns into an expansion. Also, I have already documented here how i trade, 500 to 600 pips means nothing to me because of my long term view of the market. So, if you cant stand the heat of long term trading, (the key word here being long term) then stay out of the kitchen.But it is nice to see that you are following. . . .keep it up. |
| Re: Forex Trade Alerts by Nobody: 10:06pm On Jul 12, 2011 |
when 5879 and 3957 levels are broken |
(1) (2) (3) ... (61) (62) (63) (64) (65) (66) (67) ... (101)
How I Started A Soap Making Business From Scratch (pictures And Videos) / Jeff Bezos Overtakes Bill Gates To Become World's Richest Man / Allen Onyema Indicted For Bank Fraud And Money Laundering In America
(Go Up)
| Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 52 |