Since euro and gbp choose to flex separately. Can gbp please reverse small and let euro move too.

maryjames9:


I have never hidden my resentment about FXTM. Great customer care no doubt, fast withdrawal and deposit no doubt. But their spread is as big as hell fire. It swallows up whatever enters into it without any hope of second chances. Make them have their best MA or Indicators, their spread can cause untold damage to your shikini money.

U will b scared of there spread if u trade less than 4tf.
4tf and above tf will give room for ur open positions to breath, and not being cut out of d trade.
If your set up is OK and u trade higher tf, I think u should b less concerned about d spread, after all, most traders trade major currency pairs which means d difference btw fxtm spread and others cannot even b above 4pips max.
I challenge anybody ( without rancour pls) to tell m d fxtm spread for major currency pairs compared to other's is more than 4 or 5 .
What is 5 pips when ur set up is OK and trading on 4tf and above?

^^@maryjames9. The bro has mucho love for FXTM.

infofirst:
^^@maryjames9. The bro has mucho love for FXTM.

U ve not answered my question though!
Is d difference in major currency pairs more than 4?
Note: u r free to use any brocker of ur choice.
Fxtm spread is on d high side for sure, but in minor/ crosses only and not in major currency pairs which many (especially newbies r strictly adviced to trade majors) trade.
U can then go for minor/ crosses pairs once u ve perfected ur trading strategies.
I don't even know y I like fxtm. May b because I've been used to it.

djwalata:

U ve not answered my question though!
Is d difference in major currency pairs more than 4?
Note: u r free to use any brocker of ur choice.
Fxtm spread is on d high side for sure, but in minor/ crosses only and not in major currency pairs which many (especially newbies r strictly adviced to trade majors) trade.
U can then go for minor/ crosses pairs once u ve perfected ur trading strategies.
I don't even know y I like fxtm. May b because I've been used to it.

One of my broker spread for eu is 0.8, another is 1.2 pips.
4pips add up to total cost and it can make difference in your trades. Have you not seen situation where by your tp refuse to hit because of high spread by a broker and sl hitting because of same reason.

djwalata:

U r right based on ur monthly tf but how many of us can trade only on a monthly tf?
U can as well look at d weekly tf( some of us can still trade on weekly tf), look at how it is forming higher lows on several occasions, u can as well use trend line to connect d lows and try to deduce something objective from it.
I think except d trend line that connect d higher lows on d weekly tf is broken upward, d sell biasness will still b in place.
0.6600/30 will do this for upward move to take place.
WEEKLY TF, 2weeks ago candle was massively bullish, whereas, last week candle was a doji one which means buyers and sellers are now 50-50% of dominating this pair.
This is y daily tf which is next to d weekly tf in question comes to play.
My opinion though!

Is your reply for me?
I have posted several times here and I doubt I have created an impression that I trade only the monthly timeframe. Plus I wasn't asking people to close their sells.

From my previous posts.. It's easy to find that.
1) I am presently in a sell position on NZDUSD and I am still holding my sell.
2) I intend to go long at the exit of my sell.
3) I have a buy limit order for NZDUSD.
4) My tp for the sell is my buy limit order.

I was only giving my perspective and why I would be trading that way. I wasn't saying I would be buying at the moment. I wasn't asking anyone to close their sells and buy. It's in my previous post that I have a buy limit order. And the price I put the order is also there. I never even claimed I am sure I am right.

Thank you for asking me to look at the weekly timeframe. I must have forgotten there is a weekly timeframe. . I probably don't know what that means sef.

Okay.. Some heads up... You meant to type lower highs.

You see. With my trade plan.. If I am right, By the time many are looking to buy (trendline break that most people will be waiting for).. I will be more 100 pips up in profit. It's all about probabilities and getting an edge.
What will break that the trendline will come from below. A rally from below. And with my trading system.. I identified where the rally is likely to begin from. That's where I put my buy limit. And where I will exit my sell.

You see that I am trading according to my bias from the monthly. I shorted to my entry when I saw a clear short opportunity. And I will go long as planned if things go to plan.

It's just the same way with Eurchf that I posted. I want to sell high up. I can decide to buy as price goes towards my entry if a clear long opportunity comes.

It's why I do market structure.
I pick a side and trade accordingly till there is overwhelming evidence I am wrong.

I want learn forex and I'm willing to learn.

PipMarshall:


Is your reply for me?
I have posted several times here and I doubt I have created an impression that I trade only the monthly timeframe. Plus I wasn't asking people to close their sells.

From my previous posts.. It's easy to find that.
1) I am presently in a sell position on NZDUSD and I am still holding my sell.
2) I intend to go long at the exit of my sell.
3) I have a buy limit order for NZDUSD.
4) My tp for the sell is my buy limit order.

I was only giving my perspective and why I would be trading that way. I wasn't saying I would be buying at the moment. I wasn't asking anyone to close their sells and buy. It's in my previous post that I have a buy limit order. And the price I put the order is also there. I never even claimed I am sure I am right.

Thank you for asking me to look at the weekly timeframe. I must have forgotten there is a weekly timeframe. . I probably don't know what that means sef.

Okay.. Some heads up... You meant to type lower highs.

You see. With my trade plan.. If I am right, By the time many are looking to buy (trendline break that most people will be waiting for).. I will be more 100 pips up in profit. It's all about probabilities and getting an edge.
What will break that the trendline will come from below. A rally from below. And with my trading system.. I identified where the rally is likely to begin from. That's where I put my buy limit. And where I will exit my sell.

You see that I am trading according to my bias from the monthly. I shorted to my entry when I saw a clear short opportunity. And I will go long as planned if things go to plan.

It's just the same way with Eurchf that I posted. I want to sell high up. I can decide to buy as price goes towards my entry if a clear long opportunity comes.

It's why I do market structure.
I pick a side and trade accordingly till there is overwhelming evidence I am wrong.

we r still saying d same thing.
the sell is limited once d upper trend line is broken @ 0.6630. larger picture is long once dt is broken.
I've to respect d sell once d 0.6630/40 resistance still holds.
I can't predict d future of d price,
my sell is still on BUT will buy once d said resistance in broken.

djwalata:

U ve not answered my question though!
Is d difference in major currency pairs more than 4?
Note: u r free to use any brocker of ur choice.
Fxtm spread is on d high side for sure, but in minor/ crosses only and not in major currency pairs which many (especially newbies r strictly adviced to trade majors) trade.
U can then go for minor/ crosses pairs once u ve perfected ur trading strategies.
I don't even know y I like fxtm. May b because I've been used to it.

Some people scalp for a living bro.
Imagine trying to scalp with fxtm. ��

djwalata:

we r still saying d same thing.
the sell is limited once d upper trend line is broken @ 0.6630. larger picture is long once dt is broken.
I've to respect d sell once d 0.6630/40 resistance still holds.
I can predict d future of d price,
my sell is still on BUT will buy once d said resistance in broken.

Alright.
I understand you.
I am only trying to get in earlier.
It's safer to wait for the break of the trendline but I choose the more aggressive route.

PipMarshall:


Alright.
I understand you.
I am only trying to get in earlier.
It's safer to wait for the break of the trendline but I choose the more aggressive route.

Around year 2007, I was trading a trendline breakout system called Mouteki (I think it actually is Tom Demark's ). There was this day in which I got a signal for an entry and decided to share the trade with a few of my contacts at that time.

Surprisingly, one Asian guy sent me his chart and was already about 100 pips in profit. I was amazed at his entry because he seemed to have entered just when the buy started.

In a bid to improve upon my trading knowledge, I asked him the reason for his entry. It turned out that this Trader already had a RED DIAMOND on forexfactory. His moniker - Kang Gun. He was a programmer and a mathematician who trades using maths and stats. He it was that gave me the impetus to delve even deeper into using maths to trade the market.

Whilst a trade entry based on trendline breakout is good, you can get a far better entry trading mean reversion methods.

Stick with whatever works best for you and keep striving to make your entries and exits more effecient.

All the best guys!

djwalata:

U will b scared of there spread if u trade less than 4tf.
4tf and above tf will give room for ur open positions to breath, and not being cut out of d trade.
If your set up is OK and u trade higher tf, I think u should b less concerned about d spread, after all, most traders trade major currency pairs which means d difference btw fxtm spread and others cannot even b above 4pips max.
I challenge anybody ( without rancour pls) to tell m d fxtm spread for major currency pairs compared to other's is more than 4 or 5 .
What is 5 pips when ur set up is OK and trading on 4tf and above?

You aint using Fxtm.

Its obvious. Fxtm is a bad broker. Today I noticed another order activated with it reach the set price on other brokers.

They have the best customer care, withdrawals are fucking slow, deposits are okay.
They are good for newbies because of their cent acocunt.

I’m porting to hotforex in 2020 by God’s grace.

IC markets is a very very very good broker. I wish they had office in nigeria

bojbest:



You aint using Fxtm.

Its obvious. Fxtm is a bad broker. Today I noticed another order activated with it reach the set price on other brokers.

They have the best customer care, withdrawals are fucking slow, deposits are okay.
They are good for newbies because of their cent acocunt.

I’m porting to hotforex in 2020 by God’s grace.

IC markets is a very very very good broker. I wish they had office in nigeria

R u saying I'm not using fxtm?
pls house, let us leave this issue at least for now.
we r all at liberty to use any broker of our choice.

djwalata:

R u saying I'm not using fxtm?
pls house, let us leave this issue at least for now.
we r all at liberty to use any broker of our choice.

Like their spreads is too high. Anyone using fxtm won’t be proud of bragging about their spreads. Actually spreads aint a concern to swing traders but its also important when you sell a pair with a stop loss.

See there are times spread will take my trades out without price reaching there on other brokers.


Guy its so painful losing money because of a broker...
Like I cannot trade gold because to place trade with that kinda spread go fear you.

I hope fxtm knows their company has problems and its chasing traders away. If not for their spreads, Fxtm wld have been a top broker in 9ja

bojbest:


Like their spreads is too high. Anyone using fxtm won’t be proud of bragging about their spreads. Actually spreads aint a concern to swing traders but its also important when you sell a pair with a stop loss.

See there are times spread will take my trades out without price reaching there on other brokers.


Guy its so painful losing money because of a broker...
Like I cannot trade gold because to place trade with that kinda spread go fear you.

I hope fxtm knows their company has problems and its chasing traders away. If not for their spreads, Fxtm wld have been a top broker in 9ja

I'll recommend FXCM for u.

Can you show us live how that would work on the next news so we see the efficacy of the system and tag along?

Fxwarrior:


From my own experience Mondays and Fridays are not good trading days.

Making use of news will bring wealth on the long run because most big corporations concentrate on such news.

Trading only news will also make you disciplined and stick to profitable trades as mastery of news makes you profitable.


You can be mechanical by using buystops and sellstops at specific entry points.

This was a great call! You sabi!

PipMarshall:



We move.
60 pips up.

I am still holding.

Lowest entry about 100 pips up.

You really read this and definitely know what to ask

walexy100:


What's the significance of weekly GAPS?

My good guy, what was the weekly range of GBPNZD for last 2 weeks and then last week. Then when let me know the weekly range of this pair, let's discuss before

VeeVeeMyLuv:
@Meshpips so true, traders will still be forcing the trade when price has already reach weekly range.

infofirst:
Since euro and gbp choose to flex separately. Can gbp please reverse small and let euro move too.

This got me laughing lol .

djwalata:

U will b scared of there spread if u trade less than 4tf.
4tf and above tf will give room for ur open positions to breath, and not being cut out of d trade.
If your set up is OK and u trade higher tf, I think u should b less concerned about d spread, after all, most traders trade major currency pairs which means d difference btw fxtm spread and others cannot even b above 4pips max.
I challenge anybody ( without rancour pls) to tell m d fxtm spread for major currency pairs compared to other's is more than 4 or 5 .
What is 5 pips when ur set up is OK and trading on 4tf and above?

You are short-changing yourself and you still argue about something that is detrimental to you. Why are you looking at only 1 trade. Say 5 pips difference to other brokers . You enter 20 trades, that's 100 pips you just throw-away. For what reason na? is fxtm paying you for sticking to them like glue so?

Say you go market , wan go buy iphone 4... same phone , same every every, 2 different shops selling different price , shey you will go buy it for higher price? I tire for you oh.

FXTM is useless broker, they are ripper , taking advantage of Nigerians and others.

Same way when there's 24-48hours power supply in Nigeria, everybody is in shock like WOW.. this is what we have been reduced to. In sane countries, nobody thinks about light, if you pay your light bills then you should have it.


Live spread just taken right now... you see FXTM spread, they are leading the pack LOL.

Nice ones, good analysis based with entry calls and then results, that's all trading is about man!

infofirst:


Closed the gbps.
Oil sell picked at 60.70 eu and ej still in red. Gold moved to BE

Please dont ever change your style, it has been winning! Really why would anyone have bought NU?

PipMarshall:


Is your reply for me?

Aggressive traders make it, conservative traders make it, it's the ones that only analyze on the sides that don't trade that say your winning strategy won't make it.

PipMarshall:


Alright.
I understand you.
I am only trying to get in earlier.
It's safer to wait for the break of the trendline but I choose the more aggressive route.

Sure making the right choice, @Ummuaisha now you can guide them through abi?

bojbest:



You aint using Fxtm.

Its obvious. Fxtm is a bad broker. Today I noticed another order activated with it reach the set price on other brokers.

They have the best customer care, withdrawals are fucking slow, deposits are okay.
They are good for newbies because of their cent acocunt.

I’m porting to hotforex in 2020 by God’s grace.

IC markets is a very very very good broker. I wish they had office in nigeria

50 pips running in positive.

saxy4c:
Also selling SP500 now, 3192 sl 3282 my target is closure of the gap at 3272
Chart timers take note of time and chart.

This is 30hrs after we made the trade call, it is running in 250 pips . Even after my ban I still stayed silent expect for my inner people. I respect time a lot especially when it had to do with the trading business that is my bread. I don't need to wait for one hour to come and brag about a few pips of deviation from when I make trade calls. People should stop calling their folly out loud and let's trade in peace. We must all beat this markets together .

saxy4c:
Na now you wake? Oya let me gift you with one of my most reliable formations the 3 white soldiers. Selling Gu at 3365 sl 3415 tp open for now. But I have a feeling you would spoil this one

saxy4c:
My good guy, what was the weekly range of GBPNZD for last 2 weeks and then last week. Then when let me know the weekly range of this pair, let's discuss before

Do you want to check the weekly range for a GBP pair for last week where we had UK election and and probable outlier?

meshpips:


Around year 2007, I was trading a trendline breakout system called Mouteki (I think it actually is Tom Demark's ). There was this day in which I got a signal for an entry and decided to share the trade with a few of my contacts at that time.

Surprisingly, one Asian guy sent me his chart and was already about 100 pips in profit. I was amazed at his entry because he seemed to have entered just when the buy started.

In a bid to improve upon my trading knowledge, I asked him the reason for his entry. It turned out that this Trader already had a RED DIAMOND on forexfactory. His moniker - Kang Gun. He was a programmer and a mathematician who trades using maths and stats. He it was that gave me the impetus to delve even deeper into using maths to trade the market.

Whilst a trade entry based on trendline breakout is good, you can get a far better entry trading mean reversion methods.

Stick with whatever works best for you and keep striving to make your entries and exits more effecient.

All the best guys!

Woww.
A nice read.
We must all keep striving to improve.

saxy4c:
My good guy, what was the weekly range of GBPNZD for last 2 weeks and then last week. Then when let me know the weekly range of this pair, let's discuss before

I will do a walk through with you just because you asked.

The average weekly range for GBPNZD (using 5 years historic data) is 467 pips.

The excel file attached shows the RANGE for the last 5 weeks.

The erudite trader knows that 1.27 Fibonacci extension level is an important level for reversal.

So let's add an extra 27% to the Average Weekly Range to mark the extended range (that is a probable termination point for week's that exceed the average).

467 * 1.27 = 593.09

So we can say that GBPNZD does 467 pips (on average) or 593 pips in extension. Anywhere between 467 pips to 593 pips, the trader can begin to seek for a reversal to the mean price.

The 30 SMA on H4 shows your 1 - week average price. You can also use either the typical price [(H+L+C)/3] or the weighted close [(H+L+C+C)/4] for the previous week as the average price and then project the probable exhaustion point for that week.

It is important to observe here that regardless of the UK elections held last week, GBPNZD still did not exceed the extended weekly range.

Over to you @saxy4c, you may now speak.

Good morning guys! Am looking at eurgbp, help my check, is it time to sell? Thanks! @saxy4c and others

bojbest:
Eyes on Usdcad. Price is at its retracements and I think the bulls are going to beat the bears... Still watching. Will let you know when I've got a position

Heads up!!!
The banks could be pushing this pair up.

My entry will be at the break of the trend line.

Eyeing EurUsd. Looking to go short. Asian session push down was massive.
Will go short at the retest of that trend line, if proce doesn’t come to us, we wait for the next opportunity....maybe retracements after the push down.