Sirkay78:


Thanks for this report u mension that for being Price Action trader should stay away from news do you think news does have effect on price action?

Know this; As a retail trader, your job is not to know the why or how price moves. Your job is to observe and exploit a particular pattern on your chart which occurs consistently or occasionally, using very responsible money management techniques. Listening to news is tantamount to predicting/analyzing price. You don't need all that. You'll only get hyped and worked up for nothing. Think about it. You know price regularly bounces at a particular support or resistance point. So, let's say your strategy is to buy or sell at those points, what has news got to do with it? The only way to make money with that hypothetical strategy or any strategy for that matter, is to continue pulling the trigger whenever the strategy's tested parameters are met. CONSISTENTLY. Regardless of news, price will always do what it wants to do. Just follow it. 'nuff said.

soultender:

Pls how can I get started with it?
Dont ignore this request pls

Before i answer you i want to state her emphatically that if anyone uses this system as instructed and after one month is not happy with it,i will return the subscription fee in full with an added inconvenience fee.

There are two ways to use the system which are

1.Manually with auto entry: With just your traders password needed, i will attach the system to your account and all you do is check your account every 30mins and if a position opens, just add to the position with a stipulated lot size and if you make profit for the day,stop trading but if you make a loss in the first position try with the second position and this means the maximum position you will take in a day manually is two and take your profits or losses as they come.

For this method all i will do is put your account on VPS(An environment that allows trades to go on your platform even if you close your computer and you don't even have to be connected to the internet).

You only pay a monthly subscription of N6,500(about usd35) for accounts from 1usd to usd2999 and the N6,500 includes the VPS fee for a month and the subscription. Any account of usd3,000 and above will be subject to a payment of 30% commission on profits.

2.100% automated trading: You don't have to lift a finger, just go about your life and do other profitable stuffs while you trade profitably.

Same subscription as explained above.

You will have the choice to pick any of 3 risk levels,5% daily risk exposure which can give average of 10% profit a month/
10% daily risk which can give average of 20% a month
15% daily risk which can give average of 30% a month.


I also give great commission to people who refer friends to use this system and you will get N1,000 each and every month on any one who subscribed to this system through for accounts below 3,000usd and you will get 15% monthly commission on profits made on any account above usd3k referred by you.

Lets make money together in a steady and realistic way.

For more info you can e-mail: forexrefuge@yahoo.com or call 09098760399

Remember:If you subscribe and after one month you are not satisfied with the performance, i will refund your money or come here to call me a scam.

Not everyone can trade manually and even me with all my knowledge can not due to indiscipline so lets be wise and stop losing money. If you have tried manual trading so many times and failed then using a good trading method is the best way to go either as comparison to your personal trade decision or as 100% trade module.Forex trading is not about pride or ego,its about making a success out of it which ever route we take. No one knows it all

"d forex market is always dia" dey use 2 say bt wit wot has happened courtesy of d CHF pairs,nd all d report goin on in dis forum nd oda ones,along wit som brokers going bankrupt nd d possibility of only dose who hav upto $100,000 can trade,do u tink dis forex market is still always dia? Anyway me stil dey one angle dey observe

Weekly charts

willscolf:
"d forex market is always dia" dey use 2 say bt wit wot has happened courtesy of d CHF pairs,nd all d report goin on in dis forum nd oda ones,along wit som brokers going bankrupt nd d possibility of only dose who hav upto $100,000 can trade,do u tink dis forex market is still always dia? Anyway me stil dey one angle dey observe

it is true bro. i know about 4 traders here that trade above a 100k account of theirs here but dese are d same set dat will preach forex will always be there. is all lies. the end is getting closer than u think for d small boys . truth is dat it started in US where Congress legislated a 1:10 leverage. A time is coming where u can only trade only ur capital. Example you deposit real 10,000$ and trade 50 cents or 1$ per pip etcetera. Is not going to be biz as usual. leverage is what makes forex attractive to tiny equity traders.

Wish I have $1000 , I would have compound to at least 2 million naira come ending of dis year & if they like they can close d market am not bothered at all.

stagger:
My final take is that many brokers claiming to be unaffected are hiding the true state of their accounts. It is like trying to prevent a run on a bank when a rumor of collapse hits the banking sector. Many of these brokers claiming to be sound, solvent or materially unaffected, will probably start re-balancing accounts as from next week.

I will not be surprised if restrictions on withdrawals, readjustment of client's accounts (which Saxo Bank has announced) and other measures become the order of the day. Now the boys will be separated from the men.

fxstory:
don't be deceived.most brokers were hit with the spike.they just don't want to make clients be panic.so don't loose guard.

i agree with you mate. i respect saxo bank so much for them to be affected no be joke o.

and some one will come & tell us compounding without withdrawer for like 5 year is the best if you have vast knowledge about financial mkt you should know that anything can happen at any time, all this firm will only be telling you what you want to hear.

there was a news weeks ago an investment company director ran away with clients millions of dollar (will look 4 the link to post later) so it always good to be wise when participated on financial mkt.

i have be constantly withdrawing my gain monthly basis for re-inventing on stock mkt because of something like this and am happy doing so.

immediately after d news of chf on Thursday i requested for 90% of my fund with d broker. on a normal day i receive my cash within 3 hrs when i pay extra $30 charges but that service was cancel now. on my binary account i withdrawn everything on thurday and d money landed safely in my account.

natruetalk:



i agree with you mate. i respect saxo bank so much for them to be affected no be joke o.

and some one will come & tell us compounding without withdrawer for like 5 year is the best if you have vast knowledge about financial mkt you should know that anything can happen at any time, all this firm will only be telling you what you want to hear.

there was a news weeks ago an investment company director ran away with clients millions of dollar (will look 4 the link to post later) so it always good to be wise when participated on financial mkt.

i have be constantly withdrawing my gain monthly basis for re-inventing on stock mkt because of something like this and am happy doing so.

immediately after d news of chf on Thursday i requested for 90% of my fund with d broker. on a normal day i receive my cash within 3 hrs when i pay extra $30 charges but that service was cancel now. on my binary account i withdrawn everything on thurday and d money landed safely in my account.

Correct. Once my target is reached i withdraw sharparly. The Broker aint your friend. How dangote sugar tinz?

adivice:take note of high impact news release,not necessorilly trading it,do not totally ignore it.

.

wierdpsycho:

Correct. Once my target is reached i withdraw sharparly. The Broker aint your friend. How dangote sugar tinz?

sold d thinz tay tay with 30% gain. hop i will see good price 4 re-entry otherwise na sorry 4 me.

Mack3N:
adivice:take note of high impact news release,not necessorilly trading it,do not totally ignore it.

i never trade news releases... its like trying to catch a falling knife; volatility spikes; server overload; negative slippage and requotes. I HAVE LEARNT MY LESSON.

natruetalk:


sold d thinz tay tay with 30% gain. hop i will see good price 4 re-entry otherwise na sorry 4 me.

nice... the financial mkt never got better. More greens to your account

Effect of SNB news yesterday.

willscolf:
"d forex market is always dia" dey use 2 say bt wit wot has happened courtesy of d CHF pairs,nd all d report goin on in dis forum nd oda ones,along wit som brokers going bankrupt nd d possibility of only dose who hav upto $100,000 can trade,do u tink dis forex market is still always dia? Anyway me stil dey one angle dey observe

To help quell your curiosity we need to look at another similar scenario. America's economy is almost entirely built on the housing market. The housing market sustains the middle class. Once you are done with college, get married and have a job, it is expected that you will buy/build a house of your own. The housing market fuels various employment opportunities from plumbing, landscaping to real estate. In 2008, the case-shiller home price index reported it's largest drop in history and it was down hill from then on. Fannie Mae and Freddie Mac were the biggest hit. One needs to understand how big these guys were. They held credit the size of small countries and it took the U.S government 900 billion to save them and other huge institutions from going under. It was so bad that it spilled over to the vehicle manufacturing sector as well. Even the stock market took the most hit. Prior to 2008, you could walk into a bank and ask for a 50k loan and, if you had a job you would get it on the spot. Those were the good old days. The main cause of the problem was irresponsible institutions giving out credit to every tom, dick and harry who walked into their doors and asked for a loan to buy houses regardless of if they could make their mortgage or not. The burst bubble ended that trend in a heart beat. Comparing it to the forex market: Well, it's practically the same thing. Over extending and accepting leverage 500:1 when you know you cannot afford it, is probably not the smartest thing to do. Now in America, there are tougher regulations and legislation when it comes to credit and the housing market. People save more and use less credit cards; in order words the economy is gradually bouncing back. Same with the forex market. Mark my words, there are going to be serious changes for the better. So, will you say because a lot of homes were foreclosed and families ruined the American people should have abandoned the housing market? of course not. They learnt from their greed, made changes and are better for it. The lesson they learnt was, manage your finance properly and don't spend what you cannot afford. Wouldn't you say that is similar to what retains in the forex market? Irresponsible brokers will think twice on how they broker trades from now on and the smart ones will abolish the 500:1 nonsense. As a responsible trader, you don't need that much leverage. America's regulatory agencies are now vindicated. They made all brokers in the US peg their leverage at 50:1 a long time ago and continously sanction any broker who don't apply that to an American trader. How many brokers in America have you seen lamenting about the chf crisis? The brokers crying are mostly from Europe. This is why all European brokers don't accept U.S citizens. As a U.S citizen, you have to move out of the country to trade with a European Brokerage firm. What has happened is a good thing. It is time to weed out the wheat from the chaff. And yes, forex is here to stay and nuture the financially responsible broker and trader alike. You wouldn't stop flying because of a plane crash now would you? 'nuff said.

12ema:


To help quell your curiosity we need to look at another similar scenario. America's economy is almost entirely built on the housing market. The housing market sustains the middle class. Once you are done with college, get married and have a job, it is expected that you will buy/build a house of your own. The housing market fuels various employment opportunities from plumbing, landscaping to real estate. In 2008, the case-shiller home price index reported it's largest drop in history and it was down hill from then on. Fannie Mae and Freddie Mac were the biggest hit. One needs to understand how big these guys were. They held credit the size of small countries and it took the U.S government 900 billion to save them and other huge institutions from going under. It was so bad that it spilled over to the vehicle manufacturing sector as well. Prior to 2008, you could walk into a bank and ask for a 50k loan and, if you had a job you would get it on the spot. Those were the good old days. The main cause of the problem was irresponsible institutions giving out credit to every tom, dick and harry who walked into their doors and asked for a loan to buy houses regardless of if they could make their mortgage or not. The burst bubble ended that trend in a heart beat. Comparing it to the forex market: Well, it's practically the same thing. Over extending and accepting leverage 500:1 when you know you cannot afford it, is probably not the smartest thing to do. Now in America, there are tougher regulations and legislation when it comes to credit and the housing market. People save more and use less credit cards; in order words the economy is gradually bouncing back. Same with the forex market. Mark my words, there are going to be serious changes for the better. So, will you say because a lot of home were foreclosed and families ruined the American people should have abandoned the housing market? of course not. They learnt from their greed, made changes and are better for it. The lesson they learnt was, manage your finance properly and don't spend what you cannot afford. Wouldn't you say that is similar to what retains in the forex market? Irresponsible brokers will think twice on how they broker trades from now on and the smart ones will abolish the 500:1 nonsense. As a responsible trader, you don't need that much leverage. America's regulatory agencies are now vindicated. They made all brokers in the US peg their leverage at 50:1 a long time ago and continously sanction any broker who doesn't apply that to an American trader. How many brokers in America have you seen lamenting about the chf crisis? The brokers crying are mostly from Europe. This is why all European brokers don't accept U.S citizens. As a U.S citizen, you have to move out of the country to trade with a European Brokerage firm. What has happened is a good thing. It is time to weed out the wheat from the chaff. And yes, forex is here to stay and nuture the financially responsible broker and trader alike. You wouldn't stop flying because of a plane crash would you? 'nuff said.

dayummm i want to be like you when i.grow up

wierdpsycho:
i never trade news releases... its like trying to catch a falling knife; volatility spikes; server overload; negative slippage and requotes. I HAVE LEARNT MY LESSON.

i did not say trade it,though that is what i do best...if you are scared of catching falling kinives[b](conservative traders[/b])then you are most likely to miss important entry points,because you will be waiting for candle close,when mkt has done over 30pips(for say 4hr candle).most of my enties are usually at the candle wicks.those in our group know whatsupp

wierdpsycho:
dayummm i want to be like you when i.grow up

Now, that's funny. Haven't laughed like that in a while.

Mack3N:

i did not say trade it,though that is what i do best...if you are scared of catching falling kinives[b](conservative traders[/b])then you are most likely to miss important entry points,because you will be waiting for candle close,when mkt has done over 30pips(for say 4hr candle).most of my enties are usually at the candle wicks.those in our group know whatsupp

haha...... i trade 8H and D1 candles only, i am not in a rush to catch 30 pips. different strokes for different folks

12ema:


Know this; As a retail trader, your job is not to know the why or how price moves. Your job is to observe and exploit a particular pattern on your chart which occurs consistently or occasionally, using very responsible money management techniques. Listening to news is tantamount to predicting/analyzing price. You don't need all that. You'll only get hyped and worked up for nothing. Think about it. You know price regularly bounces at a particular support or resistance point. So, let's say your strategy is to buy or sell at those points, what has news got to do with it? The only way to make money with that hypothetical strategy or any strategy for that matter, is to continue pulling the trigger whenever the strategy's tested parameters are met. CONSISTENTLY. Regardless of news, price will always do what it wants to do. Just follow it. 'nuff said.

haha you just nailed it......... you dont need wall street harvard MBA idîots to trade forex, you need your psychosis and strategy dazall.

wierdpsycho:

haha...... i trade 8H and D1 candles only, i am not in a rush to catch 30 pips. different strokes for different folks

lol,good for you bro...i swing.....my current sell on ga(6lots)1870pips so far,all taken in realtime with other traders.
N.B..I DO NOT INTEND TO PROVE ANYTHING WITH THE SCREENSHOT,JUST THANKING GOD FOR HIS FAVOUR

natruetalk:

there was a news weeks ago an investment company director ran away with clients millions of dollar (will look 4 the link to post later) so it always good to be wise when participated on financial mkt.

is a Russian hedge fund founder

imagine clients still believing all is fine until it happen

http://uk.businessinsider.com/blackfield-capital-founder-goes-missing-2015-1?utm_content=buffercf705&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer?r=US

Mack3N:

lol,good for you bro...i swing.....my current sell on ga(6lots)1870pips so far,all taken in realtime with other traders.
N.B..I DO NOT INTEND TO PROVE ANYTHING WITH THE SCREENSHOT,JUST THANKING GOD FOR HIS FAVOUR

correct guyyyyyyy!!! cheeeiiiiii!!!!!!! omo na you ooooooooh.. make u send me small na.... natruetalk are you still with Regents market[ Binary.com]

wierdpsycho:
correct guyyyyyyy!!! cheeeiiiiii!!!!!!! omo na you ooooooooh.. make u send me small na.... natruetalk are you still with Regents market[ Binary.com]

it is well bro....sometime we lick our wounds too

fxstory:
don't be deceived.the country where xm is regulated is weak in monitoring and sanction.those big brokers have strict regulation and laws so they quickly sprung into action because traders are not smiling.their eye dey red.xm don't want to open up.

Okay Sir.(smiles)

rozayx5:
i see many brokers closing


time to seperate bucketbshops.from real.men

Hi can u help out on d quote?

tom29reloaded:
@thread please I will like you to recommend a good mini laptop for me something in 30 - 50k. I think i should invest in working tools first before diving in trading. Should be able to purchase it dis Q1 ending.

battery life dat can stand trading stress

cc: Rozayx5, I remember dis to be ur feed then. Thanks

tom29reloaded:


5 years compounding? don't mind those preachers. d highest i can do is 3 months first if less than 1000$ and follow by monthly withdrawal.

You can do 5 years compounding, but certainly not on a retail broker's platform. This is best done with banks like JP Morgan Chase. DOn't forget that some of these banks also lost money on that trade, but they are very well capitalized.

Imagine FXCM being nearly rendered insolvent by a mere $225m. How can such a company every hope to pay a compounded sum of money over 5 years if such money is equivalent to their capital base?


I love this event. It has acted as a real stress test for brokers.

stagger:


You can do 5 years compounding, but certainly not on a retail broker's platform. This is best done with banks like JP Morgan Chase. DOn't forget that some of these banks also lost money on that trade, but they are very well capitalized.

Imagine FXCM being nearly rendered insolvent by a mere $225m. How can such a company every hope to pay a compounded sum of money over 5 years if such money is equivalent to their capital base?


I love this event. It has acted as a real stress test for brokers.

u're making sense bro, common $225m it reali a bad sign for other brokers smaller than fxcm

may be if fxcm is a non UK broker they would have came out as "BUSINESS AS USUAL" also

Chi!!! a broker with minimum deposit $2000

12ema:


Know this; As a retail trader, your job is not to know the why or how price moves. Your job is to observe and exploit a particular pattern on your chart which occurs consistently or occasionally, using very responsible money management techniques. Listening to news is tantamount to predicting/analyzing price. You don't need all that. You'll only get hyped and worked up for nothing. Think about it. You know price regularly bounces at a particular support or resistance point. So, let's say your strategy is to buy or sell at those points, what has news got to do with it? The only way to make money with that hypothetical strategy or any strategy for that matter, is to continue pulling the trigger whenever the strategy's tested parameters are met. CONSISTENTLY. Regardless of news, price will always do what it wants to do. Just follow it. 'nuff said.

God bless u oga 12ema... Every point u mentioned about being a Price action trader was from experience and I can be bold to say that U and other gurus in the aos have blessed me so much.. With your support and open spirit on this thread I now see FX from new dimension...
Pls do more to help us up coming retail traders

God bless 12ema, Naija babe, Owliver, stagger and several other bosses on this fx thread

The bad news is that if your account gets blown up because of the events like CHF most recent crisis, then not only your broker doesn’t take the responsibility, but also he is usually affected very badly and chances are they get bankrupt and get out of the business completely. As far as I have seen, this is something that is already happened even to some of the most famous brokers.

As you know there are two kinds of brokers. Market Maker brokers who don’t transfer your orders to any interbank, and ECN/STP brokers who route your orders to the interbanks also known as liquidity providers.

Market maker brokers lose money if you make profit, and visa versa. It means your loss is their profit and your profit is their loss. When events like yesterday’s CHF movement occur, if it wipes out most of traders accounts, market maker brokers feast. Easy money…

However, if such a movement causes the traders positions to become positive, then a market maker broker has two options. Either he has to pay the traders profit, or make an excuse and deny to do it.

It all depends on the case. Sometimes market maker brokers prefer to handle a small loss not to mess up with the clients. But sometimes the loss is much more than what they can handle. Therefore, they have to make an excuse not to pay the clients’ profits.

It is a different story with ECN/STP brokers. Your profit is not their loss, and your loss is not their profit. But the problem is when a sudden and too strong movement occurs, it usually causes most of the clients accounts to reach the margin call and stop out levels, and get wiped out, because usually most traders always have wrong positions. The bigger problem is that as the movement is too strong and sudden, stop loss orders don’t work, and even if a position doesn’t have any stop loss, the broker’s automatic system cannot close the position when the account reaches the stop out level. Therefore, the account will go to a negative balance. For example a +$5000 account becomes -$50,000.

Indeed, it is the trader who has to pay this $45,000 loss to the broker, but almost in all cases traders walk away and the broker cannot take this money from them. So, either the broker has to pay this money to the liquidity provider from his own pocket, or they have to face insolvency. This is something that happened to some of the brokers because of the yesterday’s CHF crisis

stagger:


You can do 5 years compounding, but certainly not on a retail broker's platform. This is best done with banks like JP Morgan Chase. DOn't forget that some of these banks also lost money on that trade, but they are very well capitalized.

Imagine FXCM being nearly rendered insolvent by a mere $225m. How can such a company every hope to pay a compounded sum of money over 5 years if such money is equivalent to their capital base?


I love this event. It has acted as a real stress test for brokers.

bro if i have 10 million dollars, you think I will trade forex again. life is too short to be doing dis same tin all my life. How much capital do i need to trade with JPMorgan? I guess is from 100k right?

Some gud ones in Switzerland requires from 5k

i have done my conservative stress free compounding of 100k to 10 million dollars and it was not even up to 5 years. All u need is withdraw 1 to 5k monthly for expenses. There are many multi billion dollars brokers to use but most require 250 to 1m minimum deposit. When u attain dis feet, forex becomes very monotonous and boring . Capital is insured

forex be sweet sha but all dis mt4 stuff make am be like child play

Dear Clients!

On January 15, 2015 the Swiss National Bank unexpectedly removed the upper boundary of CHF against EUR. These measures triggered a sharp rise in CHF and resulted in exceptional volatility on the Forex market in CHF currency pairs. As a result many forex brokers faced financial problems. In particular, on January 16, 2015 Alpari UK announced that it entered into insolvency.

As a result of volatility movements the company cannot any longer meet the capital adequacy requirements of the FCA (UK). In the nearest future external control will be introduced and a program of financial recovery will start.

Please note that Alpari UK is a separate legal entity operating under the Alpari brand and its financial situation does not affect other Alpari companies.

In particular, Alpari Limited (Saint Vincent), Alpari Limited (Belize) and Alpari International Limited (Mauritius), Alpari Ltd. (Bermuda) have recently changed their margin requirements for EURCHF to protect their clients. Due to these measures these companies do not face any financial difficulties and provide their services in full.

Best Regards,
Alpari

.......from Alpari..... Interesting enough, Alpari Nigeria is still marketing.....

tom29reloaded:


bro if i have 10 million dollars, you think I will trade forex again. life is too short to be doing dis same tin all my life. How much capital do i need to trade with JPMorgan? I guess is from 100k right?

Some gud ones in Switzerland requires from 5k

i have done my conservative stress free compounding of 100k to 10 million dollars and it was not even up to 5 years. All u need is withdraw 1 to 5k monthly for expenses. There are many multi billion dollars brokers to use but most require 250 to 1m minimum deposit. When u attain dis feet, forex becomes very monotonous and boring . Capital is insured

forex be sweet sha but all dis mt4 stuff make am be like child play

agbakaa!!!!! my man ... how far.... u don make millions