smithereen:

Thanks 4 the heads up sis! I do lookout for your calls/posts from time to time, as you seem to be a good turning point picker.

Luckily, I took all the upswings on EJ today starting from 104.33 @ 8:22am naija time (ignored all the downswings), including the last (entered 105.06) which I closed a few minutes ago. That hardworking pair alone has yielded over 220 pips today.

Wow. Your 1st TP is really at 109.00? I doff my hat.

Do me a favour, pull up your EJ chart on the daily and put 10, 34 emas on it. Look for what the price is when it touches the 10 ema and you'll see it's around 109.79, that is why my first target is around that level. I think it'll prolly get to around 112 area if the Japs intervene this week. (Sony and Toyota have been screaming for the the Yen to be devalued) and I have a day job that i'm unwilling to give up my dear, I only get to look into the markets a few times during the day

naijababe:

Corrections or reversals ? You decide mate. On a different note, i entered a long on EJ this morn at 104.15, not an instrument i normally trade, but it was too good to pass up. It swung up and down through the day but finally made better moves in the last 45mins. If you want to enter, a good entry now will be around 105.23 with a 60 pips sl and first tp at 109.00 and 2nd tp around 112 area. Do your analysis and take trade at your own risk. Happi pips y'all

Whether its correction or reversal,we are likely gonna see 3750 at some point before the end of tomorrow,

aguiyi:

short 3660

closed at+30

dont know why i cant open trades again
make i go sleep small

Blog Icon, Please can you add me to your mailing list so I can recieve your classes too. Thanks a lot bro.

^^^ You are in bro. Check your mail.

@Bassej, I have also added you. Have a nice day guys!!!

Blog icon:

^^^ You are in bro. Check your mail.

@Bassej, I have also added you. Have a nice day guys!!!

Thanks bro. Got the mail. I'm very grateful.

FTSE 100 (Sep 11) intraday : continuation of the rebound.
Pivot: 5082

Our Preference: LONG positions above 5082 with 5266 & 5286 as next targets.
Alternative scenario: The downside penetration of 5082 will call for a slide towards 5025 & 5005.
Comment : a support base at 5082 has formed and has allowed for a temporary stabilisation.

Dow Jones (Dec 11) intraday: continuation of the rebound.
Pivot: 10850
Our Preference: LONG positions above 10850 with targets @ 11065 & 11165.
Alternative scenario: The downside penetration of 10850 will call for a slide towards 10745 & 10650.
Comment:the RSI is bullish and calls for further advance.

GBP/USD intraday: limited upside.
Pivot: 1.5785.
Our Preference: LONG positions @ 1.5795 with 1.589 & 1.5925 as next targets.
Alternative scenario: The downside penetration of 1.5785 will call for a slide towards 1.5695 & 1.566.
Comment: the pair remains capped by a key declining trend line but has broken above an intraday bearish channel resistance.

EUR/USD intraday: rebound expected.
Pivot: 1.3555.
Our Preference: LONG positions @ 1.3565 with 1.3785 & 1.388 in sight.
Alternative scenario: The downside penetration of 1.3555 will call for 1.3495 & 1.341.
Comment: the RSI broke above a declining trend line.

USD/JPY intraday: key ST resistance at 77.4
Pivot: 77.40.
Our Preference: SHORT positions @ 77.3 with 76.75 & 76.55 as next targets.
Alternative scenario: The upside breakout of 77.4 will open the way to 77.65 & 77.85.
Comment: the upward potential is likely to be limited by the resistance at 77.4.

GOLD (Spot) intraday: the downside prevails.
Pivot: 1855.00
Our Preference: SHORT positions below 1855 with 1795 & 1770 as next targets.
Alternative scenario: The upside penetration of 1855 will call for 1886 & 1900.
Comment: the price is pulling back on its former rising trend line, further donwside seems likely.

Crude Oil (Oct 11) intraday: further advance.
Pivot: 88.20
Our Preference: LONG positions above 88.2 with 89.5 & 90.45 in sight.
Alternative scenario: The downside penetration of 88.2 will call for a slide towards 87.4 & 86.6.
Comment: the RSI is mixed with a bullish bias.
Trend: ST Ltd upside; MT Range

The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects TRADING Central current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterised by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.

Trade Fx on our MT4 platform and receive 20% of your commission fees as an incentive every month. Qualify to manage up to $50,000 for us. Offer ends 4th October.
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Down Down

i think those who still have allowance for more position should take a good look at that EJ formation advised by our naijababe, it's quite enticing and not late yet. I hear the japanese may entervene soon in a manner that would supercede what the swiss did and if that is done we could get quite some huge pips there. As master blog_icon says, 'lose responsibly'.

Quoted from my source:
The Bank of Japan name is synonymous with currency intervention and the central bank has plenty of ammunition to throw at the problem when they feel it is necessary. Given that the Yen is also trading just off record highs against the buck and some other major currencies, we do not suspect that the central bank will welcome the additional spillover flows into the Yen resulting from the Swiss depreciation. While it is true that the current deteriorative state of the global economy should funnel more money into the Yen on the liquidation of risk correlated assets, the Japanese Yen is by no means a safe haven currency given the equally uncertain Japanese economic outlook and natural benefit to the economy in having a weaker currency.


As such, we predict that any additional appreciation in the Yen will open the door for a major central bank reaction that equals or exceeds the one we have just seen from the SNB. The Euro/Yen cross is trading by multi-year lows and has dropped back below levels even seen at the onset of the crisis in 2008. We think that any additional upside pressures on the Yen will soon escalate pressures for the newly appointed Japanese officials to speak out on the unwanted currency strength and set the stage for a strong central bank campaign of aggressive currency intervention. We may not see this play out over the coming sessions, but keep a close watch for our outlook to materialize over the coming days and weeks.


happy pipping guys.

Heads up people.

The EURCHF peg is about to face its first test.

My question is, with all the problems in the Eurozone, if there is significant selling pressure on the 1.2000 peg, will the SNB be able to defend it by selling the CHF for foreign currencies in "unlimited quantities", or will they suffer the same fate as the BoE in 1992 when the European Exchange Rate Mechanism peg between the Deutsch Mark and The British pound was challenged to the hilt by George Soros and his people and the BoE capitulated.

Very interesting times we have here.

https://www.nairaland.com/nigeria/topic-758540.0.html

Follow the above link for free forex signals everyday

https://www.nairaland.com/nigeria/topic-758540.0.html

Follow this thread every trading day for free forex signals.

I will also post " daily equity signals" for our equity traders.

I trade 3 pairs: EUR/USD, GBP/USD, EUR/CAD, no trade entry yesterday, none yet today. Waiting,

By the way, i'm a Day Trader.

Naijababe’s simple guide to trading success

I am not the highest contributor here but I am a growing trader and from time to time like to share my experience.

In the wonderful world of trading, much can be gained and a whole lot more can be lost; if you manage to acquire the skills and the right mental attitude and discipline, then you truly have a skill for life. These are not in any particular order; I wrote them as they came into my head. Enjoy folks and happy hunting

• Trading is not a get rich quick scheme, like every other endeavour in life; it requires a good depth of knowledge and strict discipline. Put in the work, remain focused and disciplined and you can reap truly amazing financial rewards
• Set clear goals and stick to it
The number of times I have seen people trying to trade every opportunity and then lose their entire account is almost countless. I have been there and if there’s one thing I know now, it’s that I can’t trade every opportunity. For example, I only trade 5 instruments and a I have a goal of 300 pips per week, if I meet my goal on Monday, I won’t trade for the remaining days in the week.

• Take time to learn – The one thing you don’t want to do in this business is dive in head first, it will only lead to one end and that end is not nice.

• Learn to love your losses – Losing a trade is a normal part of trading, when you lose a trade, analyse it again and see where you went wrong (if you did at all). I have made trades that ended in a loss and upon reassessing the trade again knew I’d do the same thing again. The market is what it is; sometimes it just doesn’t do what it should.

• Make a trading plan and stick to it – This is probably one of the most difficult aspects of trading, entering trades that you have not analysed can also lead to one thing and you all know what that is.

• Learn to diversify – I have heard people say on this thread that a beginner should only trade one instrument; I beg to differ. When you are learning, try trading two pairs at least and no more than four. Make sure your choices are not all major pairs. If I was asked to recommend pairs for a beginner I would recommend the following with reasons shown
EU or GU – Poster child for the avid learner, rarely whipsaw or behave out of sync
EU/GBP – Good for beginners mainly due to average daily range (in other words, you stand to lose less if a trade goes against you)
My main reason for suggesting more than one pair is to avoid putting on blinkers when you start to trade other pairs. No more than four because you get easily distracted and not learn the peculiar nuances of each pair.
• Correlation – When trading, it’s important to know the correlation between your instruments and other instruments even if you don’t trade them, e.g the dollar correlates negatively with crudes, commodities correlates positively with CAD and AU pairs, EU correlates with CHF etc.
• Operating costs – As I said before, trading is a business; you should put your operating costs in perspective and whilst I realise that you can’t control costs like electricity and internet subscription, the one thing you can control is spread. Why trade 20pips spread instruments when those with 1 -4 pips spread abound?!
• Own your decisions – Success will be far from you in trading if you don’t learn to own your trading decisions. This is why it’s important to not just depend on anyone to generate signals for you but for you learn and understand the reasons for your trading decisions.
• Be decisive and remain disciplined – What type of trader do you want to be, a contrarian, a trend, breakout or momentum trader? Do you want to day trade or swing trade? Decide which it is and be disciplined enough to follow your system even when you are not doing well. Let me make something clear here; you should only continue to follow your system if it has brought you success in the past ( no system guarantees a 100% success)
• Don’t get high on your success or trade when you are not emotionally calm e.g. one of the worst mistakes you can make is to enter a trade in anger or vengeance having just lost – I can guarantee you that the market will punish you for it.
• Use available resources well – Websites like fxstreet and babypips have gems of information and learning tools that will aid your success.
• Keep it simple – I have seen charts overloaded with indicators that I can’t even see what price is doing. Why do u need 5 EMAS, MACD, stochastic, RSI when every single of this indicator tells you the same thing.
• Use a birds eye view – This means you should take a general look at you entire screenshot first and not just your last two or three bars/candles.
• Finally, manage your account like your life depends on it. Apply the 2 and 5 % rule – Only risk 2% of your account at any given time ( personally, I use 6%) and when you’ve lost 5% of your equity take time away from trading for a week at least to get a fresh perspective ( personally, I use 10%)

I hope this helps and where I have expressed contrary opinion to what you do, bear in mind that it’s not a criticism- These are just my own rules and they work perfectly for me.

Too much uncertainty, everyone's waiting for a clear direction. But trust the market off-course, it will give a few fake directions before settling down.

Here We Go:

Entered a BUY EUR/USD @ 1.3700

The Swap thing (for those who take advantage):

This is a very interesting article if you want to set up your position to receive interest on all positions placed. Imagine not worrying about holding positions for a certain length of time because you're getting interest on your money every day.

Wouldn't that take the edge off of stressing over your open positions that are losing?

When opening forex transactions, the actual value date is two days forward. A deal which is done on Monday is for Wednesday’s value. A deal done on Friday is for Tuesday’s value (Saturday and Sunday are not counted), and so on. Please note : On Wednesday the amount of swap is multiplied three times (tripled) to compensate weekend holidays which swap is not charged.

How to Calculate Swap:
Traders will earn positive swap if the currency bought has greater swap rate than borrowed one.

Example 1:
USD/JPY Pair. USD Swap Rate = 5.25% , JPY Swap Rate = 0.5%
Buy USD/JPY means a trader is buying USD by borrowing JPY. Since bought currency’s swap rate (USD) is greater than borrowed currency’s swap rate (JPY), the trader will earn interest income : 5.25% - 0.5% = 4.75% When a trader Sell USD/JPY (means borrowing USD to buy JPY), the trader will be charged by interest fee : -5.25% + 0.5% = -4.75%

Example 2:
EUR/USD Pair. EUR Swap Rate = 3.75%, USD Swap Rate = 5.25%
Buy EUR/USD means a trader is buying EUR by borrowing USD. Since bought currency’s swap rate (EUR) is smaller than borrowed currency’s swap rate (USD), the trader will be charged by interest fee : 3.75% - 5.25% = -1.5% When a trader Sell EUR/USD (means borrowing EUR to buy USD), the trader will earn interest income : -3.75% + 5.25% = 1.5%

Forex Broker usually provides a list of daily swap rates for every currency pairs available. Traders could find interest fee / earning based on Buy or Sell positions they will trade. (swap is usually in $ or pips value). If the swap value is quantified in pips, traders need to convert pip to dollar by calculating pip value of corresponding currency pair.


To check the swap rate for a specific currency using the MetaTrader Platform :

1. Click on MarketWatch
2. Right click on any currency
3. Choose symbols
4. Double left click "Forex"
5. Left click a currency of choice
6. Click on properties

Now you can view what the swap is for going long or short


Happy pipping.

Peeps, especially newbies, digest what naijababe has posted!

Market vibration is not too good for your account; please be guided.

Cheers everyone!

Guys please be prepared as I am hearing a rumour of significant sales (fixing flows) of EUR/USD at 16:00 GMT by real money players (asset managers, institutional investors etc). The last time this happened was on friday at 15:00 GMT and the EU went down by 100 pips.

@kashif where hav u been.did u get my mail last wk.it urgent lets talk yahoo/fb as arthuryemi@yahoo.co.uk
@naijababe thanks 4 d truth in ur epistle to the pippians .lets met on
fbook(strickly fx)
same username

@kashif where hav u been.did u get my mail last wk.it urgent lets talk yahoo/fb as arthuryemi@yahoo.co.uk
@naijababe thanks 4 d truth in ur epistle to the pippians .lets met on
fbook(strickly fx)
same username

arthuryemi:

@kashif where hav u been.did u get my mail last wk.it urgent lets talk yahoo/fb as arthuryemi@yahoo.co.uk
@naijababe thanks 4 d truth in your epistle to the pippians .lets met on
fbook(strickly fx)
same username

What's your YIM username? I'll add you. Kashif, na u i dey see for thread without visa so abi na your clone dey post?

@arthuryemi, sorry, I have been off and on for a while. Ok, let me try and get on YIM now; c u!

wow my day job had a greater part of my today ,not even 1 pip

Entered GBP/USD Long @ 1.5825

@naijababe &kashif .am browsin wt phone 4now.so i dont av yim.i belive its should be d same as my e-mail addres.i can only send&reply mail 4m my box now.am arthuryemi
on fb.kasif just send me a blank mail i'l reply 4m there