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Nairaland Forum / Nairaland / General / Business / Forex Trading - Season 14 (326626 Views)
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Re: Forex Trading - Season 14 by Kirinwa: 9:22pm On Dec 28, 2014 |
My tip is based on fundamental analysis.Technical may say otherwise. |
Re: Forex Trading - Season 14 by benpuzzy(m): 9:23pm On Dec 28, 2014 |
I've tried not to meddle in this arguement, but my mind would not allow me. "The fact that the crown does not fit a King cannot stop others from wearing the crown"..When you are determined and persevere in whatever you do, the sky will be your limit. With $1000 accout, the normal lot size is 1pip=$1. You all can bear witness that there are traders that make average of 300pips/week wether good or bad (remember that the Oil traders make average of 700pips/week, here ask Oga Natruetalk). This is equal to 1200pips/month=$1200. When u add ur profit to ur initial capital, u get $2200 after first month of trading out of this u pay urself salary of $500 which even a womanizer in naija cannot consume before the end of the month knowing fully well that he has a target. Tell me, what else do we need to make life out of this biz with the equity? Knowing fully well dat ur lot size increases with increase in ur equity at average of 1200pips/month. Peace. |
Re: Forex Trading - Season 14 by Nobody: 12:40am On Dec 29, 2014 |
buy eu at market price |
Re: Forex Trading - Season 14 by Nobody: 4:55am On Dec 29, 2014 |
done with alacrity iheanyiebeneze: |
Re: Forex Trading - Season 14 by dukum: 7:07am On Dec 29, 2014 |
benpuzzy:.shouldn't that be 10cents cos u re using a dollar, 100pips=10%......i am still a newbie/just asking..thanks |
Re: Forex Trading - Season 14 by benpuzzy(m): 7:48am On Dec 29, 2014 |
dukum:d first thing u need to know is ur lot size which is calculated thus equity/1000. Once that is done u defined ur risk for any trade which should not exceed 3% and as a newbie u are expected to run away from pairs called "d vampires" and concentrate on low volatile pairs. Once u've succeed in building ur account by over 100%, u can now diversify ur trading and u're good to go. The two most important things dat u need to fight are fear and greed. That i'm making over 1000pips in Oil every week should not influence u to jump to Oil when u've not gotten a sound technical know how. U must trust ur winning strategy by been consistance. That u lost two trades at a roll should not not discourage u from taking the third trade which might vomit over 200pips for u. Remember, in forex we don't win everyday but we always come out green at d end of the week. Peace! 1 Like |
Re: Forex Trading - Season 14 by benpuzzy(m): 7:50am On Dec 29, 2014 |
Who is selling Oil with me? |
Re: Forex Trading - Season 14 by Joshcoli(m): 7:56am On Dec 29, 2014 |
benpuzzy: Seriously... |
Re: Forex Trading - Season 14 by Joshcoli(m): 8:14am On Dec 29, 2014 |
Please what play form is best to start trading Forex Thanks |
Re: Forex Trading - Season 14 by FOREXMARTS: 8:22am On Dec 29, 2014 |
Good morning house. This argument dikwa risky. Well to me the only things that matter in this business is the relationship between your win loss ratio and your risk reward ratio. Get em right and ur okay. Hope we are gearing up for next year? . I also hope that those who have subscribed to the free trading alert starting next year have read the manual and calculated their projected profit for next year? If you haven't I suggest u do. Download the trading system here https://www.dropbox.com/sh/0qlpd5sonkuh72g/AAAQxNc44sH1Kz_1PspMj6BSa?dl=0 |
Re: Forex Trading - Season 14 by jadyclem(m): 8:59am On Dec 29, 2014 |
Mr badruf thanks 4 d link. I thought it was mr sojmann dat responded. Thanks once more. |
Re: Forex Trading - Season 14 by benpuzzy(m): 9:43am On Dec 29, 2014 |
benpuzzy: Flipped to Buy since the sell could not hold water |
Re: Forex Trading - Season 14 by christian11(m): 9:51am On Dec 29, 2014 |
12ema: May God really bless u. I sweàr if I had read dz post a few years back, my story would have been different. Please & please, can u talk more about "risk exposure and eliminating that exposure as quickly as possible". God bless. |
Re: Forex Trading - Season 14 by omejeo: 9:54am On Dec 29, 2014 |
benpuzzy:the sell may hold though mkt is not clear |
Re: Forex Trading - Season 14 by Edd1e(m): 10:13am On Dec 29, 2014 |
so if u av $1000 in ur act, u'll trade $1 per pip. oga, u shdn't mislead pple, if d trade moves 500 pips against u, den u'r 50% down. benpuzzy: |
Re: Forex Trading - Season 14 by benpuzzy(m): 10:29am On Dec 29, 2014 |
omejeo:jump out sharply, thanks for the caution. |
Re: Forex Trading - Season 14 by benpuzzy(m): 10:35am On Dec 29, 2014 |
Edd1e:what works for me may not work for u. What is the essence of trading forex when you will go 4 a trade dat will move 500pips against u? What happened to ur sense of risk exposure. Besides my analysis is not for people like u but for people that have succesfully crossed the seven sea of forex. PEACE! |
Re: Forex Trading - Season 14 by seyejohn94: 10:35am On Dec 29, 2014 |
Kirinwa: well... i dunno about ga and gj but GN looks bearish probaby 1.96....ur trade call lastweek brought it to my attention...did my analysis and went bearish last week... happy trading.... |
Re: Forex Trading - Season 14 by docus: 10:39am On Dec 29, 2014 |
wow the house is getting interesting. more gist please |
Re: Forex Trading - Season 14 by FOREXMARTS: 11:05am On Dec 29, 2014 |
Edd1e: Some basic questions to ask yourself before u start trading everyday is this(that's if ur an intra day trader like me). 1. What is my daily risk allocation(DRA) for today? : This refers to how many pips loss you are ready to take for that day. Like poker game you must bring something to the table daily and if you exhaust it you close trading for the day. 2. What % exposure do i want my account to have based on the DRA and what is the dollar value. If for example you want 10% exposure and ur DRA is 100 pips on a $1000 equity then the dollar value is $100. 3.What will be my average stoploss per trade? This is self explanatory. 4. Using a Pip to a dollar as a basis of calculation and based on my stoploss how many trades will my DRA allow me to hold at once? To get this divide ur DRA by ur stoploss. If ur average stoploss per trade is 25 pips per trade that means u can hold 4 different positions on different pairs at once and still trade within ur DRA or risk ceiling. If ur average stoploss is 50 pips per trade that means you can only hold two trades. 5.Will my profits(pips) in the course of today's trading be acceded to today's DRA? Your prerogative. I personally suggest it not be. Sick to ur plan until the end of the trading day. (my trading say starts by 6am and ends by 4pm, urs may differ. So in summary a good day is when you come out to trade and close the day greater than ur starting DRA. It could be double, triple of ur initial DRA. I hope this is comprehensive enough? My 2 cents. All these calculations shouldn't take 5 minutes. 1 Like 1 Share |
Re: Forex Trading - Season 14 by Nobody: 11:18am On Dec 29, 2014 |
morning house. please has anyone ever collected the Xm master card ?? and have you used it here in Nigeria? I'll really appreciate matured answers. thanks. |
Re: Forex Trading - Season 14 by Edd1e(m): 11:20am On Dec 29, 2014 |
benpuzzy:hmm funny! u don't knw me nd u dnt't hw i trade nd i'm nt here to argue wid u. m just saying no mata hw much u analyse, u shdn't risk dt much unless u'r scalpin nd even if u r, u shdn't write; trade $1/pip on a $1000 acnt outrightly, sum newbies might folow suit nd blow deir acnt. nd next time, dnt act lyk u knw all.. |
Re: Forex Trading - Season 14 by benpuzzy(m): 11:21am On Dec 29, 2014 |
FOREXMARTS:Oga, thanks for this comprehensive explanation cos i'm a bad tutor. Some people think that forex trading all about buying when u see a bullish candle and selling when u see a bearish candle. What u explained above takes 80% of forex trading while clicking ur mouse and others takes the remaining 20%. For example, i don't go for a trade that will make me expose above 30pips as stoploss that is why i don't trade Gold and Oil initially and as well don't follow some of Kirinwa's trade calls because of the spread and the funniest part of the whole thing is that i still meet my weekly target apart. The koko is, "plan ur trade and trade ur plan". |
Re: Forex Trading - Season 14 by benpuzzy(m): 11:23am On Dec 29, 2014 |
changes1:contact Rozayx5 cos he has collected his, he will educate u more. |
Re: Forex Trading - Season 14 by benpuzzy(m): 11:30am On Dec 29, 2014 |
Edd1e:Oga i know u to well and that is why i'm responding to all ur comments because i want to learn more from u beside, i'm an intraday trader and don't go for trade that will make me expose above 30pips as stoploss while my lot sizes increases in relation to my equity. Remember it is how u make ur bed u'll lie on it. What is required in dis biz is discipline Shikena. |
Re: Forex Trading - Season 14 by omejeo: 11:38am On Dec 29, 2014 |
sold oil |
Re: Forex Trading - Season 14 by Edd1e(m): 11:40am On Dec 29, 2014 |
FOREXMARTS:bliv me, i knw all abt these calculatns, risk exposure, RRR, MM, i'v bn tradin 4 a while now, bt stil we shd b aware dt d market behaves funny at times despite our projectns nd analysis. nice contributn anyway. |
Re: Forex Trading - Season 14 by benpuzzy(m): 11:42am On Dec 29, 2014 |
omejeo:welcome onboard, lets join force and push it down, mean while, 54.50 is my eyeing zone to jump out. |
Re: Forex Trading - Season 14 by honeric01(m): 11:44am On Dec 29, 2014 |
Some of una wan dry this market, una no dey close for the year? lol |
Re: Forex Trading - Season 14 by benpuzzy(m): 11:47am On Dec 29, 2014 |
honeric01:Oga na wetin loneliness dey cause, all my neighbors don travel 4 xmas. |
Re: Forex Trading - Season 14 by Edd1e(m): 11:48am On Dec 29, 2014 |
benpuzzy:well, now i gt u. it's obvious we trade in a very diff way, u knw diff strokes 4 diff folks.. bt, discipline al d way... |
Re: Forex Trading - Season 14 by benpuzzy(m): 11:50am On Dec 29, 2014 |
omejeo:Boss, what TF do u trade? |
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