infofirst:
The best trade for this week is to buy USD. But impatience, refusal to make the charts our best friend. The lower tf, stubborn head and greed will make us do otherwise. God abeg give me patience this week to not do otherwise.

May the pips b with us all.

Info first, will you be holding any contest this year?

Please house how do I fund my mff? Chipper cash is rejecting my NIN. Who can help me with idea? Fluterwave is off

tenpipsperday:
Please house how do I fund my mff? Chipper cash is rejecting my NIN. Who can help me with idea? Fluterwave is off

Crypto currency

tenpipsperday:
Please house how do I fund my mff? Chipper cash is rejecting my NIN. Who can help me with idea? Fluterwave is off

Pay through Binance

meshpips:


Pay through Binance

Please guide me

PIPSMARSHALL:


Crypto currency

I need guidance please

Good evening everyone, let me take out time to explain what I mean when I say that the volume data your broker gives is not readily usable because it has both buy and sell volume.

Imagine that you are a Skrill EXCHANGER people come to sell their Skrill to you while some others come to buy Skrill from you. The FX market or stock market is also an EXCHANGE(R).

Now, see the following transactions done by a particular Skrill EXCHANGER for February 17, 2023.
(1) Client SOLD $1,000 worth of Skrill to the exchanger.
(2) Client bought $2000 worth of Skrill from the exchanger.
(3) Client bought $1,500 worth of Skrill from exchanger
(4) Client sold $500 worth if Skrill to the exchanger.
End of business for that day.

Now tell me the volume (in $) of transactions done for that day.

Orders (1) and (4) were sell transactions worth $1,000 and $500 respectively.
While orders (2) and (3) were buy side transactions worth $2,000 and $1,500 respectively.

The exchanger will make his spread profit on ALL transactions.

The total transaction done is valued at $1,500 (sell side) + $3,500 (buy side) = $5,000

But remember that the buy transactions will cancel out the sell transactions leaving us with $3,500 - $1,500 as the excess or net .

So, the EFFECTIVE volume ($) that will affect his opening balance will be only $2,000

This is where traders get confused. The FX broker will show you $5,000 as the volume done but what you really need is the EFFECTIVE or net volume which ought to be just $2,000 (buy side)

Try to read these posts over and over until it gets clear.

meshpips:


Pay through Binance

Check your email sir

Now, let's assume that Skrill exchanger started the day with $8,000 as his opening balance.
After transaction (1) his balance will become $9,000 because he received $1,000 from the client.

After transaction (2) his balance will be $9,000 - $2,000 = $7,000

After transaction (3) his balance will be $7,000 - $1,500 = $5,500

Then after transaction (4) the balance will be $5,500 + $500= $6,000

Remember that the broker takes the OPPOSITE side of you (the trader's) order. So when you sell to the broker, he is actually BUYING from you.

That excess that you are looking at as $2,000 buy side is actually $2,000 SELL SIDE in the broker's book.

So, the broker started with $8,000 as his opening balance but ends the day with $2,000 difference NOT $5,000 difference.

Remember that I said your mt4 platform shows you both buy and sell volume. So your mt4 will show you $5,000 volume done which when used for your analysis will give you a very wrong answer!

Good day bosses.
Please, I'd like to know if it's okay to use only technical analysis and chart patterns to trade only..

Finally let's get the OHLC and volume for that day as the Broker will present it.

Open = $8,000

High=$9,000

Low = $5,500

Close = $6,000

Volume = 5,000 ($)

If you cannot distinguish between the buy and sell volume so as to obtain the effective (net or excess) volume, you are misusing the information given you.

This is the main reason most traders fail in this business. They are using only time and price for their analysis.

I hope I have been able to show what I mean when I said that the broker reports volume of both buy and sell transactions.

In order to use volume data correctly, you have to be able to distinguish between buy and sell volume on every candle.

The EFFECTIVE (net or excess) volume is what we really need but your broker will never give that to you without "encrypting" it.

You have to find a way to decode this encryption .

Finally, I humbly submit that . . .

PRICE IS NOTHING WITHOUT VOLUME.

Thank you!

LorhdSamstar:
Good day bosses.
Please, I'd like to know if it's okay to use only technical analysis and chart patterns to trade only..

That's what demo is for, try everything, I personally don't even use chart or indicators, this is what my screen looks like when I trade.

tenpipsperday:




I need guidance please

Use LTC

meshpips:
Finally let's get the OHLC and volume for that day as the Broker will present it.

Open = $8,000

High=$9,000

Low = $5,500

Close = $6,000

Volume = 5,000 ($)

If you cannot distinguish between the buy and sell volume so as to obtain the effective (net or excess) volume, you are misusing the information given you.

This is the main reason most traders fail in this business. They are using only time and price for their analysis.

I hope I have been able to show what I mean when I said that the broker reports volume of both buy and sell transactions.

In order to use volume data correctly, you have to be able to distinguish between buy and sell volume on every candle.

The EFFECTIVE (net or excess) volume is what we really need but your broker will never give that to you without "encrypting" it.

You have to find a way to decode this encryption .

Finally, I humbly submit that . . .

PRICE IS NOTHING WITHOUT VOLUME.

Thank you!

Can decoding the encryption be done on mt4 platform without any third parties

HumbleTrader:
That's what demo is for, try everything, I personally don't even use chart or indicators, this is what my screen looks like when I trade.

u don't use charts?

As everybody they advice make I drop my own befor market opens.. to detach yourself emotionally from the charts learn to use limit orders.

karkinase:
As everybody they advice make I drop my own befor market opens.. to detach yourself emotionally from the charts learn to use limit orders.

Limit orders are actually the most efficient method of entering trades.

hegelian:


looked liked you trade oil only.. well i trade 3 pairs only and oil takes 66% of that.. can we become chat and trade buddies..lets share ideas
if i can have ur mail or digit

Nope, not only trade on oil, included gold, however I always follow the oil prices and the news so often.

There are common thing in the world, although the same profession, however the result could be different.
Oil price drop on last week after break MA line, the price retrace to level 76.46 from low 75.32.

BinaryRocks:

I'm still expecting your mail.
Thanks

I really am sorry for the delayed response.

I have attended to your mail now.

klinksd:


Price took off 5 pips shy of our anticipated entry.

If it gets to 1.0733, earlier plans for the dip remain valid.

Good morning traders.

1.0733 was accepted and price rallied to 1.0796 as planned, peaking at 1.0803 before commencing the dip...during the previous week.

This week, the dip continues in xxxUSD pairs, though my interest is in EURUSD & XAUUSD.

XAUUSD {M1}
SELL LIMIT
En: 1843.2
SL: 1845.2 {1850.2}
Tp: 1820.2

EURUSD {M1}
SELL LIMIT
En: 1.06919
SL: 1.06979 {1.07029}
Tp: 1.06167

...may the blue pips continually be with us... 🥂

SL updated.

meshpips:


Limit orders are actually the most efficient method of entering trades.

Market execution can make your heart skip a bit.

Small profit crew.

rainlover:
u don't use charts?

No chart, except in prop firm where one can not trade like he/she wants, too many rules.

HumbleTrader:
No chart, except in prop firm where one can not trade like he/she wants, too many rules.

how do you See the levels without watching the charts

Good morning house, Gold is at a major resistant level so sell trades can be active now, Only buying if there is a break of the trendline and the horizontal resistant. Have a profitable week ahead

rainlover:
how do you See the levels without watching the charts

I don't use level, I focus on profit or loss, which guides my decisions.

HumbleTrader:
I don't use level, I focus on profit or loss, which guides my decisions.

You stack or cut trades if it hits a certain number of pips?

Geovanni412:


You stack or cut trades if it hits a certain number of pips?

More like scalping the pips, this way the risk isn't much, but the profit isn't much either. Better than a blown account.

meshpips:


I really am sorry for the delayed response.

I have attended to your mail now.

Check your mail again pls.


Thank you

HumbleTrader:
I don't use level, I focus on profit or loss, which guides my decisions.