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Nairaland Forum / Nairaland / General / Business / Forex Trade Alerts: Season 19 (363638 Views)
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Re: Forex Trade Alerts: Season 19 by Donvic4u(m): 2:32pm On Aug 23, 2019 |
bojbest: U looking at it from d good side, I'm looking from d neutral point... Trading for the sake of poverty is VERY dangerous... We are all trading for the potential freedom not the immediate recompense 1 Like |
Re: Forex Trade Alerts: Season 19 by Nobody: 2:35pm On Aug 23, 2019 |
Donvic4u: No na. A poor man with the right mindset and education will succeed. I just hope the person is not someone that wants to get rich quick. Thats when wahala go dey and he will lose his little funds 3 Likes |
Re: Forex Trade Alerts: Season 19 by redsox11: 4:07pm On Aug 23, 2019 |
redsox11: redsox11: Closed out trades now. not good example, was hoping to get 3-4 trades in. Got only 2 trades. |
Re: Forex Trade Alerts: Season 19 by PJAMES1(m): 4:36pm On Aug 23, 2019 |
PJAMES1: Will it hold? Fingers crossed. Next candles most important. 1 Like
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Re: Forex Trade Alerts: Season 19 by Nobody: 5:51pm On Aug 23, 2019 |
Ooba: Wait for it. Though, I prefer learning, trading and reading comments of guys like current price and redsox to sharing juices. Have a great weekend |
Re: Forex Trade Alerts: Season 19 by Ooba: 7:03pm On Aug 23, 2019 |
You are damn right. I just came back now and saw drip every where. Some of you got this ball red handed. maryjames9:
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Re: Forex Trade Alerts: Season 19 by Moneywirer: 7:59pm On Aug 23, 2019 |
And Xau/usd decided to deal with me today |
Re: Forex Trade Alerts: Season 19 by sircrabo: 2:16am On Aug 24, 2019 |
teemy: Pls Bro, i have a problem understanding forex factory stats. I see "actual, forecast and previous". Pls how do i interpret this to know when to buy or sell a currency ? Should the forecast be higher than previous before i place a buy order or what ? Though i trade following the trend using a H1 time frame but i need some guidance from fundamental news. pls help out. Thanks |
Re: Forex Trade Alerts: Season 19 by sircrabo: 2:20am On Aug 24, 2019 |
Fxwarrior: Pls Bro, i have a problem understanding forex factory stats. I see "actual, forecast and previous". Pls how do i interpret this to know when to buy or sell a currency ? Should the forecast be higher than previous before i place a buy order or what ? Though i trade following the trend using a H1 time frame but i need some guidance from fundamental news. pls help out. Thanks |
Re: Forex Trade Alerts: Season 19 by Nobody: 6:54am On Aug 24, 2019 |
sircrabo: I don't do forexfactory. I however have myfxbook installed on my phone from Android play store. It contains calendars on currencies with HIGH, MEDIUM and LOW IMPACT. By default that is the setting and by default major currencies will give you alert of vibration and ringing. You open the app, you can disable news for LOW and MEDIUM impact news or add and subtract currencies you want to receive alerts about if you like by going to SETTINGS on the top right of the app. Now, looking at the app, Now there is ACTUAL, FORECAST AND PREVIOUS data. GREEN on Actual means that currency is BETTER THAN FORCAST or BETTER THAN EXPECTED. For example if RETAIL SALES for USD turned GREEN, USD is expected to rally against any other pair, then you could sell Gbpusd,EurUsd,NzdUsd and buy UsdJpy, Usdchf.... If however, it turned RED, it means WORSE THAN EXPECTED OR FORCAST. this implies, USD will be weaker compared to all its pairs. Then you gotta for example buy EurUsd, GbpUsd, NzdUsd and sell pairs like UsdJpy,UsdChf..... However, there are certain occasions this rule don't work. You discover that market sometimes react opposite to the news. Sentiments atimes often make matters rally against the expectations from news especially when the trend is against the news. I advise you to go check BABYPIPS.COM and read over and over for more detailed information. 2 Likes |
Re: Forex Trade Alerts: Season 19 by BullBearMkt(m): 8:20am On Aug 24, 2019 |
STRONG CANADIAN RETAIL SALES REPORT COULD DRAG AUDCAD TO 0.88889 AUDCAD pair is weakening for the last couple of weeks and a recent pullback from previous low at 0.8889 is now ready to fall again. This time probably re-testing 0.8889. Partial profit is set at 0.89379 while a stop loss is at 0.90577. Risk/Reward for this short trade is 1:1.3 bigger chart?: https://uk.tradingview.com/chart/AUDCAD/AwaZ5WUK-STRONG-CANADIAN-RETAIL-SALES-REPORT-COULD-DRAG-AUDCAD-TO-0-88889/ PLAN YOUR TRADES AND TRADE YOUR PLANS 2 Likes
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Re: Forex Trade Alerts: Season 19 by kimozaman1010(m): 9:14am On Aug 24, 2019 |
sircrabo:Technical analysis is the best gee 1 Like |
Re: Forex Trade Alerts: Season 19 by sircrabo: 10:28am On Aug 24, 2019 |
maryjames9: Thanks a lot. I will study your right-up over and over again. it's helpful. which broker do you use by the way? I plan on using fxopen or Hotfx. also, which time frames do you normally use and why? Thanks |
Re: Forex Trade Alerts: Season 19 by BullBearMkt(m): 11:32am On Aug 24, 2019 |
PJAMES1:...I think whatever President Trump twits this weekend & outcome of G7 summit in France will determine the next move of this trade. However, a break below 128.77 could mean further downtrend |
Re: Forex Trade Alerts: Season 19 by kkins25(m): 11:34am On Aug 24, 2019 |
im a beginner forex trader, i have only began the trade for about 4 months now. when it comes to forex trading, you then realize that the term "beginners luck" really does exist. Also, i think trading with demo accounts as practise is really no good as your reaction to the devil of a trade is quite different from the real deal. so i decided to begin small, i opened up a $10 dollar account, and made a profit of 30% in a few days. but lost everything yesterday on a freaking EUR/USD trade which turned south out of nowhere. only today that i found out that a twitt by trump caused the usd to slump.. wtf |
Re: Forex Trade Alerts: Season 19 by kkins25(m): 11:37am On Aug 24, 2019 |
kimozaman1010:It is not fair of you to make such a statement. on the long term, you know technical analysis is what one should not solely rely on. |
Re: Forex Trade Alerts: Season 19 by Inehmesit: 12:28pm On Aug 24, 2019 |
Hello KKins, I will be really honest with you, I have gone through your nairaland profile, and I think we both have a thing in common (the way you think and reason), the few threads and topics you’ve created made me say that, can I talk to you on what’s app or any other platform? I am also a Forex beginner too, I have a few questions for you. kkins25: 1 Like |
Re: Forex Trade Alerts: Season 19 by sircrabo: 12:53pm On Aug 24, 2019 |
kimozaman1010: Technical the best? Pls explain. I do follow the trend using the H1 time frame. That's the only strategy I know how to use, but attimes the candles don't reverse when I think it would instead it goes further down or upwards. If I may ask, what indicator do you think is more reliable on the Mt4 platform? |
Re: Forex Trade Alerts: Season 19 by kkins25(m): 1:00pm On Aug 24, 2019 |
Inehmesit:not so sure bruh.... spill the beans on nairaland please |
Re: Forex Trade Alerts: Season 19 by kkins25(m): 1:11pm On Aug 24, 2019 |
sircrabo:from my little experience, no indicator can be even 50% accurate most of the time. some folks know how to tweak the indicators to be more effective. i use ichimoku kinko hyo, which is pretty easy to interpret and gives some accurate signals than bollinger bands from my point of view. although lookin back at the charts one would realize that the IKH misses some out on signals on the short term. from now i no go do M1 and M5 trading again.. the ichimoku kinko hyo is very good for long term trading. i made most wins when i traded on the H4 timeframe and lost all my money trading M1.. A SILLY MISTAKE. I WENT AGAINST MY TRADE PLAN AND BOOOM I WAS ZEROED OUT.. THAT DAMN LEVERAGE..LOL AND OHH, i love trump but the niggaaa just cost me my small training account |
Re: Forex Trade Alerts: Season 19 by Mbitiouz69: 1:34pm On Aug 24, 2019 |
bojbest: This is my e-mail, thanks, any way you can help me , I'll really appreciate it femiambitiouz@gmail.com |
Re: Forex Trade Alerts: Season 19 by Mbitiouz69: 1:35pm On Aug 24, 2019 |
Re: Forex Trade Alerts: Season 19 by Mbitiouz69: 1:41pm On Aug 24, 2019 |
bojbest: How much can I use to invest and which broker, I want to use to promote my music and get me a better life and education 1 Like |
Re: Forex Trade Alerts: Season 19 by Inehmesit: 2:47pm On Aug 24, 2019 |
I need you to put me through on this Forex stuff. kkins25: |
Re: Forex Trade Alerts: Season 19 by sircrabo: 3:33pm On Aug 24, 2019 |
maryjames9: Sorry to disturb you again. If i go through a forex calendar, and i get a buy order for say "USD", do i place a buy order on currencies that have usd on the left (usd/chf) or on the right (eur/usd) i made that mistake severally in the past and it affected me. Pls explain the position of the currencies to me when placing orders. Thanks. You are my new FX mentor now o. Get ready for my questions |
Re: Forex Trade Alerts: Season 19 by Donvic4u(m): 4:04pm On Aug 24, 2019 |
sircrabo: Do well to gotru babypips.com school.. All these and more are there |
Re: Forex Trade Alerts: Season 19 by BullBearMkt(m): 5:07pm On Aug 24, 2019 |
EURUSD CONTINUES ITS UPTREND PRIDE... If you missed the recent EURUSD rally (https://uk.tradingview.com/chart/EURUSD/pIfiRyom-EURUSD-GATHERING-MOMENTUM-FOR-A-RALLY-ON-H4/), don't worry, another opportunity is around the corner. I expect a short pullback on the pair to 1.11141 minimum, but my conservative buy entry is at 1.11033... Bigger Chart?: https://uk.tradingview.com/chart/EURUSD/nauKm6HZ-EURUSD-CONTINUES-ITS-UPTREND-PRIDE/ PLAN YOUR TRADES AND TRADE YOUR PLANS...
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Re: Forex Trade Alerts: Season 19 by Nobody: 5:27pm On Aug 24, 2019 |
Mbitiouz69: Lol. Bro its better to get a job to do that than invest into forex. 2 Likes |
Re: Forex Trade Alerts: Season 19 by teemy(m): 6:14pm On Aug 24, 2019 |
sircrabo: Fundamental analysis involves using economic data to predict future price movement. Forexfactory provides the data in the arrangement you described as previous - The data the last time it was released Forecast - What it is believed the next release would be Actual - The actual data when it was released. E.g Nigerian census. previous - 180m (from last census) Forecast - 200m Actual - "blank (yet to be released at next census)" Favourable news for the country means favourable currency and vice versa. E.g in 2005/6 there was a news I saw on CNN of Japan raising her interest rate from 0 to 0.5%. This means money kept in japan banks would have an interest increase in thus would encourage investors to keep money in japanese banks . More savings in yen - more demand for yen - more strength to the yen. Good for the yen. On that day alone Gbpjpy moved down by 900 pips (9000 points). Now another scenario. Japan had a tsunami causing a nuclear disaster at its fukushima plant. planes, cars and people were floating all around as seen in CNBC. This was bad for japan and by extension the yen. Bad for the yen, Gbpjpy moved up by 60 pips (600 points). But guess what, it then reversed downwards for 200 pips (2000 points)! Unexpected right? especially as the bad news was still making headlines the world over. Now back to the question on what to do, I would like you to take a good look at the examples above ad understand that sometimes it goes as expected and other times it goes unexpected and also can whipsaw both ways. Those days I remember, a strategy common was entering pending stop orders a few minutes to the news hoping that the right direction would be entered. That was when brokers came up with huge slippages and also bad fill prices waaay off your entry trigger price. Same for buy and sell at same price with 10 pips Stoploss but even at that if slippage does not do you bad, it can be whipsawed both ways and both stops triggered. Some brokers even notify you they don't want news traders! Whatever strategy you decide on, take note that there are risks involved and as such money management is key to your progress. If you need more answers, keep asking and as there are many on this thread that can help guide you. With time, you will get to what you want. Wishing you well - Teemy 4 Likes 1 Share |
Re: Forex Trade Alerts: Season 19 by sircrabo: 6:23pm On Aug 24, 2019 |
teemy: Thank you for taking time to respond to my question. I am beginning to understand better now. If i have any issues, i will let you know. I normally follow the trend using the H1 time frame which to me has been working but at times, rather than move in the expected direction after a given period of time, it slips further downwards or upwards. So i have to wait longer than expected before i make a few pips. That's why i needed to know how the news affects my trades. Tanx once again 1 Like |
Re: Forex Trade Alerts: Season 19 by Mbitiouz69: 7:16pm On Aug 24, 2019 |
bojbest: Why,? The risk ?, they was this friend of mine I told bout forex about 2 years ago,I just told him to try it like play like play and,he tried it too like play like play,he went to seminar where he was schooled bout somethings which I don't know cause I was ignorant bout it and took it as joke then, but he is now moved to the U.S, telling me thank you for introducing the way to him, and me am here suffering, I've learnt not to be ignorant bout major things in life, I'LL TAKE THE RISK 1 Like |
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