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Nairaland Forum / Nairaland / General / Business / Forex Trade Alerts: Season 23 (505131 Views)
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Re: Forex Trade Alerts: Season 23 by HumbleTrader: 3:38pm On Feb 19, 2023 |
infofirst:Info first, will you be holding any contest this year? |
Re: Forex Trade Alerts: Season 23 by tenpipsperday: 4:53pm On Feb 19, 2023 |
Please house how do I fund my mff? Chipper cash is rejecting my NIN. Who can help me with idea? Fluterwave is off |
Re: Forex Trade Alerts: Season 23 by PIPSMARSHALL: 5:06pm On Feb 19, 2023 |
tenpipsperday: Crypto currency |
Re: Forex Trade Alerts: Season 23 by meshpips(m): 5:18pm On Feb 19, 2023 |
tenpipsperday: Pay through Binance |
Re: Forex Trade Alerts: Season 23 by tenpipsperday: 6:00pm On Feb 19, 2023 |
Re: Forex Trade Alerts: Season 23 by tenpipsperday: 6:01pm On Feb 19, 2023 |
Re: Forex Trade Alerts: Season 23 by meshpips(m): 6:44pm On Feb 19, 2023 |
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. 1 Like |
Re: Forex Trade Alerts: Season 23 by meshpips(m): 6:53pm On Feb 19, 2023 |
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. 1 Like |
Re: Forex Trade Alerts: Season 23 by tenpipsperday: 6:58pm On Feb 19, 2023 |
Re: Forex Trade Alerts: Season 23 by meshpips(m): 7:04pm On Feb 19, 2023 |
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! 1 Like |
Re: Forex Trade Alerts: Season 23 by LorhdSamstar: 7:06pm On Feb 19, 2023 |
Good day bosses. Please, I'd like to know if it's okay to use only technical analysis and chart patterns to trade only.. |
Re: Forex Trade Alerts: Season 23 by meshpips(m): 7:16pm On Feb 19, 2023 |
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! 5 Likes |
Re: Forex Trade Alerts: Season 23 by HumbleTrader: 7:22pm On Feb 19, 2023 |
LorhdSamstar: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.
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Re: Forex Trade Alerts: Season 23 by karkinase(m): 7:43pm On Feb 19, 2023 |
tenpipsperday:Use LTC |
Re: Forex Trade Alerts: Season 23 by EASYLIFE4US: 8:18pm On Feb 19, 2023 |
meshpips:Can decoding the encryption be done on mt4 platform without any third parties |
Re: Forex Trade Alerts: Season 23 by rainlover(m): 10:09pm On Feb 19, 2023 |
HumbleTrader:u don't use charts? |
Re: Forex Trade Alerts: Season 23 by karkinase(m): 10:30pm On Feb 19, 2023 |
As everybody they advice make I drop my own befor market opens.. to detach yourself emotionally from the charts learn to use limit orders. 2 Likes |
Re: Forex Trade Alerts: Season 23 by meshpips(m): 10:37pm On Feb 19, 2023 |
karkinase: Limit orders are actually the most efficient method of entering trades. 3 Likes |
Re: Forex Trade Alerts: Season 23 by FXcandles(m): 11:45pm On Feb 19, 2023 |
hegelian:Nope, not only trade on oil, included gold, however I always follow the oil prices and the news so often. |
Re: Forex Trade Alerts: Season 23 by FXcandles(m): 11:48pm On Feb 19, 2023 |
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.
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Re: Forex Trade Alerts: Season 23 by meshpips(m): 1:22am On Feb 20, 2023 |
BinaryRocks: I really am sorry for the delayed response. I have attended to your mail now. |
Re: Forex Trade Alerts: Season 23 by klinksd: 4:07am On Feb 20, 2023 |
klinksd: 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. |
Re: Forex Trade Alerts: Season 23 by karkinase(m): 6:08am On Feb 20, 2023 |
meshpips:Market execution can make your heart skip a bit. 1 Like |
Re: Forex Trade Alerts: Season 23 by HumbleTrader: 6:54am On Feb 20, 2023 |
Small profit crew.
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Re: Forex Trade Alerts: Season 23 by HumbleTrader: 7:06am On Feb 20, 2023 |
rainlover:No chart, except in prop firm where one can not trade like he/she wants, too many rules.
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Re: Forex Trade Alerts: Season 23 by rainlover(m): 7:15am On Feb 20, 2023 |
HumbleTrader:how do you See the levels without watching the charts 3 Likes |
Re: Forex Trade Alerts: Season 23 by dmahn(m): 7:24am On Feb 20, 2023 |
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 2 Likes
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Re: Forex Trade Alerts: Season 23 by HumbleTrader: 7:27am On Feb 20, 2023 |
rainlover:I don't use level, I focus on profit or loss, which guides my decisions. |
Re: Forex Trade Alerts: Season 23 by Geovanni412(m): 7:39am On Feb 20, 2023 |
HumbleTrader: You stack or cut trades if it hits a certain number of pips? |
Re: Forex Trade Alerts: Season 23 by HumbleTrader: 7:53am On Feb 20, 2023 |
Geovanni412:More like scalping the pips, this way the risk isn't much, but the profit isn't much either. Better than a blown account. 1 Like |
Re: Forex Trade Alerts: Season 23 by tenpipsperday: 8:13am On Feb 20, 2023 |
meshpips: Check your mail again pls. Thank you |
Re: Forex Trade Alerts: Season 23 by kendoschurrle(m): 8:28am On Feb 20, 2023 |
HumbleTrader: |
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