unclenna:
This can give one a margin call

infofirst:


I am telling you bro. It took some bucks off me ehn. Some hard earned bucks.

infofirst:
Market surprised me really. I was not expecting gu to be where it is at the moment especially with eurgbp price. I expected gu to be at 1.26*** /1.25** with the current price of eurgbp.

Low risk is just better for now

PipMarshall:


Chief, sorry about this boss.
You will make it back.

PipMarshall:
It's like I said..
For the present market conditions.
Be more inclined to your setups that say you should buy safe havens.

If you would be selling them.. Make sure you are really sure.
The safe havens.. JPY.. GOLD, CHF.

Also.. AUD .. NZD.. CAD... Before buying be very sure..
Especially with the economic slowdown associated with the coronavirus.

PipMarshall:


You can see what happened.
The safe havens appreciated significantly... CHF and JPY.

Aud and Nzd were heavily manipulated.
Cad heavily depreciated.

Trade safe bosses.
Use smaller positions that won't give you margin calls if shit happens.

infofirst:


@PipMarshall

What do you think with eurgbp

I am in a sell now. As it's a price I have been expecting before now. But gu price is giving me some second thought that can eurgbp move to 0.90xxx. Are you seeing that in your chart?

PipMarshall:


I am bearish too. But I would prefer to see a proper sell setup. It has not reached the price I want to sell yet. 0.8800 or even 0.8900. But if your system says sell.. I think it's likely to be right. It will sell off madly. It's just about timing it right.

Meanwhile, I talked about GBPUSD. You can check my previous post on it. Saturday. It might not go lower than where it turned. Any down moves now may just be retracements. I explained everything I know about GBPUSD there. And that would mean Eurgbp is ready to move down.

infofirst:


It has touched mine. How we close today will guide us mu h better. Till then

GladmanGoddey:
There are alot of opportunities now dont be fearful be bold

voraz:


The trend didn't end so I kept on using this format to find entries

teemy:
An Idea

I have an idea for a forex competition to help those beginners that need trading funds. The first part being consistency in their trading strategy and sticking to it throughout the duration of the trial.

As an added bonus, I will automate the winning
All interested participants should give me a mention while I work on setting up the demo contest (most likely on fxblue).

Wishing you well - Teemy

infofirst:


It's an insane market situation. One really need to plan how to survive In the midst of it all. Oil will go back up there. I was surprised it can retest the 20's again.

teemy:
An Idea

I have an idea for a forex competition to help those beginners that need trading funds. The first part being consistency in their trading strategy and sticking to it throughout the duration of the trial.

The Trial

A forex demo trading competition.

Everyone starts with a trading account of $10,000 which is coincidentally similar to a $100 account in cents (more on this later).

Contest starts and runs for the last two weeks of each month.

Awarding the prize

Winner is the trader with the highest ROI or highest balance since all accounts start with the same amount.

At the end of the contest, the highest ranked trader will give me a report of his/her trading strategy and I will authenticate that ALL trades made conform to the trading strategy. Any single off strategy trade will lead to disqualification and prize goes to the next highest ranked trader.


Prize is $100 or equivalent in naira paid into winner's Dom or Savings account. (I will see about raising this and increasing prize positions in coming months).

As an added bonus, I will automate the winning trading strategy into an expert advisor for the winner. I would advice winner should not sell it nor give it out (I will give recommendations on how to make more with it without giving out the farm). There truly is something called the law of diminishing returns.

Grounds For Disqualification

All gurus and pros are not entitled to participate. I would rather you add more to the prize pot. This also includes anyone who has dropped trading signals in any of the nairaland forex threads.

Any new nairaland account that was created from today ontowards is not entitled to participate.

A prize winner for a month is not entitled to a prize in the next immediate month.

The contest trading account should NOT have a drawdown more than 20% of the starting account balance. The concept is to ensure you will maintain money management rules so as not to blow the prize money in a swoop.

Conclusion

All interested participants should give me a mention while I work on setting up the demo contest (most likely on fxblue).

Wishing you well - Teemy

PipMarshall:


Well.
It's alright.
I think Prices should go up again.
We should just hope naira has not collapsed before then.

US Oil output will be reduced, as the low prices will drive many US oil producers into liquidity.
Russia and OPEC should find an agreement, hopefully.

Benqozenero:
@teemy, Interested.

PipMarshall:


Well.
It's alright.
I think Prices should go up again.
We should just hope naira has not collapsed before then.

US Oil output will be reduced, as the low prices will drive many US oil producers into liquidation.
Russia and OPEC should find an agreement, hopefully.

Just30:
Russia does not want an agreement any time soon
Russia interest right now is to crush US shale producers and send the market into a spiral as big banks lose big
The only way to make the US suffer is to make the market suffer.

Russia is waiting as everyone else lose their market share.

voraz:
CHFJPY.... Double Top
Potential neckline retest

teemy:


Oga Ben, I don't think you are qualified o. You already manage funds on forextime (sic). It will be cheating if you are allowed to. Let's give the chance to those yet to have an account to trade with.

PipMarshall:
CHFJPY has one way to go.

And that's down.

At 106.75, I may add more sells if it breaks.

teemy:
An Idea

I have an idea for a forex competition to help those beginners that need trading funds. The first part being consistency in their trading strategy and sticking to it throughout the duration of the trial.

The Trial

A forex demo trading competition.

Everyone starts with a trading account of $10,000 which is coincidentally similar to a $100 account in cents (more on this later).

Contest starts and runs for the last two weeks of each month.

Awarding the prize

Winner is the trader with the highest ROI or highest balance since all accounts start with the same amount.

At the end of the contest, the highest ranked trader will give me a report of his/her trading strategy and I will authenticate that ALL trades made conform to the trading strategy. Any single off strategy trade will lead to disqualification and prize goes to the next highest ranked trader.


Prize is $100 or equivalent in naira paid into winner's Dom or Savings account. (I will see about raising this and increasing prize positions in coming months).

As an added bonus, I will automate the winning trading strategy into an expert advisor for the winner. I would advice winner should not sell it nor give it out (I will give recommendations on how to make more with it without giving out the farm). There truly is something called the law of diminishing returns.

Grounds For Disqualification

All gurus and pros are not entitled to participate. I would rather you add more to the prize pot. This also includes anyone who has dropped trading signals in any of the nairaland forex threads.

Any new nairaland account that was created from today ontowards is not entitled to participate.

A prize winner for a month is not entitled to a prize in the next immediate month.

The contest trading account should NOT have a drawdown more than 20% of the starting account balance. The concept is to ensure you will maintain money management rules so as not to blow the prize money in a swoop.

Conclusion

All interested participants should give me a mention while I work on setting up the demo contest (most likely on fxblue).

Wishing you well - Teemy

PipMarshall:


Interesting times


It looks like their plan will work.

PipMarshall:


Well.
It's alright.
I think Prices should go up again.
We should just hope naira has not collapsed before then.

US Oil output will be reduced, as the low prices will drive many US oil producers into liquidation.
Russia and OPEC should find an agreement, hopefully.

Just30:
They have the upper hand
they know it and they are playing it?


Trump played himself when he placed that sanction on Rosneft

US under Obama declared economic war on Russia which continued under Trump as well. US put sanctions on EU companies and Russia working on North Stream, US recently sanctioned the Russian Rosneft giant for doing business with Venezuela.

At the OPEC meeting in Austria Russia said to herself, why protecting the US oil shale industry, by cutting her oil production when all they see from US is hits under the belt.

Russia has a very solid welfare fund of over $500bln. Russia has been buying gold for years, and has a very low national level of debt. If this oil war goes for a year or two many banks will incur massive financial losses which will hurt the entire oil sector in US.

Russia very likely is holding if not straight flush, very likely the best hand, while the US oil companies will have to keep folding to preserve whatever capital they can from the "oilmagedon" huricane.