Nigeria is becoming a growing force in the forex trading industry. If you look on Google Trends, you can see the search volume of terms like "forex" and "forex trading" growing sharply. Nigeria is actually the leading country in Google Trends on these terms, particularly for "forex trading".
If you haven't tried forex trading yet, this link will get you a free practice account.
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THE OUTSIDER METHOD – THE
THE OUTSIDER METHOD
– THE PATTERN –
Place a 9-period EMA on a 15 minutes GBP/USD chart.
Next we’re looking for candles which meet the following conditions:
• Body and shadows can’t touch the EMA.
• Ideally, candle high/low should be at least 1 pip away from the EMA.
• Close should be above the previous high (bullish case) or below the previous low (bearish case).
– ENTRY RULES –
Bullish case: long at the opening of the next candle.
Bearish case: short at the opening of the next candle.
– STOP LOSS AND EXIT RULES –
Once the trade is open, immediately place two orders (stop loss and profit target)
(One-Cancels-All condition).
Stop loss is set at the low (bullish case) or high (bearish case) of the candle pattern (alternatively, you can place your stop loss near the most recent lowest low/highest high if the last low/high are too close to our entry point).
Profit target should be set to n times the size of the pattern candle body. That is, take the difference between the open and the close of the candle which has met the pattern conditions, and add (bullish)/ substract (bearish) that value, multiplied by n, to your entry point; of course, n can be a fixed or a volatilityadjusted number. My tests suggest that n = 2 is a good starting point.
If we have a profit of 20 points or more, move your stop loss to breakeven+spread.
pipsguru@gmail.com +2348081680800
SIMPLE versus COMPLEX.
SIMPLE versus COMPLEX.
In order to trade successfully, you must adopt and tweak a system to suit your personality and style. A lot of forex nerds believe that a system works because of it's complexity, which is not true.
A winning strategy/system does not have to be complex to be effective. To much analysis will confuse you and erode your confidence to trade.
My best systems are very simple and highly profitable. This past week, I traded a simple system that uses only one indicator on a small time frame and had 75% profit on my equity. Simply awesome!
Do not confuse yourself by merging systems till they become like space rocket formulas! Keep any system simple and in it's purest form. If you find a system on any forum, stick with the authors conditions and indicators.
Many traders overlook very simple, but highly profitable systems because they look too simple. For me, simplicity and certainty rules my trades.
Here's my advice, with a fundamental knowledge of Fibonnacci and pivot points, you can use simple systems to grow your account over time.
Well it has been a great week, hope yours was great, nice weekend to ya all.
pipsguru@gmail.com +2348081680800
Old Wines, New Wineskins.
Old Wines, New Wineskins.
I have been away from here for quite sometime and the posts below are quite nauseating. I wonder when these guys will wise up and quit.
Do not part with your money to these slick marketers, It is sad to see what length people will go to defraud and mislead others.
Don't you fall for these rehashed lines and fictitious claims. Money managers my foot. If you don't believe me, arrange to meet with these self acclaimed gurus in their office locations. Do not pay money into any account till you see the people behind these schemes.
They are also quite ignorant of Financial laws and regulations. You don't just wake up and proclaim yourself a fund or money manager, you have to be registered and recognized to do that. Besides, what insurance do you have to offer as to the safety of peoples funds?
The rate of return these guys are claiming is so fantastic, that these guys should be rolling around in some mega bucks, and may be open their own banks. But read their adverts and you will see that they are not really better off economically than those they are trying to help.
Besides, look at the kind of products and services they are offering, if you can't smell or see scam, then you may need psychiatric attention.
They are just trying to work up your greed and feed off you like vampires. Forex is a tough business with no guarantees whatsoever. It is all about probabilities and speculations, and not every one can trade forex successfully. No trader, and I mean no genuine trader will guarantee you 100% return on investment.
The laws of money management will not allow for that. The maximum risk exposure is 3% of equity. To trade with all of you equity is a pointer to be a "nerd" of "scambaiter"!
What makes you think that a guy that can double money trading will need your money? He should just go ahead and keep doubling his own money and become the world richest man!
This may run against the grains, but I have been there and done that. I am a trader who learnt through the school of hardknocks.
The first step to being scammed is believing you can create wealth without working or buy a robot that would make you rich, it does not exist.
You wanna learn forex, give yourself one full year to learn the trade, and you can start by going to www.babypips.com and learn from their school. It is absolutely free.
When you are done, mail me and I will send you tutorial on how to use the Metatrader and Vt Trader platforms for ABSOLUTELY FREE. You can mail me your question and requests. I do not collect money for my online assistance, I MAKE ENOUGH FROM MY TRADES TO LIVE ON.
All the best.
pipsguru@gmail.com +2348059447446
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Hello firends
Hello firends
This fx michael forexmentor and a panther with fxcastteam with a 3 years experience in the currency market just imagine makin $200 daily trading in the world biggest market in the world with a turn over daily of $4 trillion daily which is bigger than both america and uk stock market.
$200 muliply by 30 days = #600,000 naira monthly without struggllin with 5.00am ready for work closin late at night to face another wahala holdup and terrible hold up when comin back home from home just you and ur laptop tradin 24/5 a month able to meet up your finacial stake with #600,000 or more as an income earner from forex market. People like warren buffet the richest man in the world did it thru forex,peter bain did it too well here is FX MICHAEL NIGERIA #1 FOREXMENTOR trained in south africa,3 and half years in forex,participate in forexforums taught lot of student both top and high ranks across nigeria and even international.
So why not you hold on think twice now ready to fire your boss why earning low salary.facing lot of hardship in ur locallity becomin a landlord of ur house and buyin ur dream cars,yes u can dream it and archive all this because if u believe it + conceive it =u can archieve it
ALL THIS CAN BE ARCHIEVE IN FOREX
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COURSE CONTENT
COURSE CONTENT 1 on 1 training is exactly what it sounds like: it's where you and I work every day, by instant message, phone,and email, and THRU CHATTING I turn you into the kind of trader that your mother (or spouse) would be proud of. we will work together officially for 5 weeks — following the course outline below — but I will work with you for as long as it takes for you to be a consistently profitable trader. I guarantee it. This is not some ridiculous course that you buy and read and then find impossible to profit from. It makes me sick to my stomach when I hear that someone has blow away $2,000 or $3,000 while tradin system. You don't need a bookor free systems from forum You need a mentor. During the training, I become your mentor and your coach with one mission: to dramatically improve your trading results. Training officially lasts 5 weeks. But we will not stop working until you are successful, or we're both dead. Note: no one has ever died. Every one I've trained has been successful. You can have my phone number.07057100226 or 01-8147956 This is about getting personal advice from someone who has been in the market for three years mentor by three mentor had trainin south africa. I can help you correct your mistakes and speed up your path to trading success. You will receive course materials, 30-40 assignments, and at least 80 hours of total instruction. I worked with 41 both in nigeria,south africa,uk traders in 2007. All of them are still going strong. You will always be able to contact me, even after the training is complete. You will be part of a growing network of people I've trained, all across the world. I have training references. You can request them from me if you are thinking of signing up. on my course programme one on one training. www.forex-wealths.blogspot.com u can also reach me thru .
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JUST MAIL ME @ mike200706@yahoo.com requestin for my account
OPEN AN ACCOUNT WITH AMERICA HIGH RANK BANK AS A LEGAL NON-US CITIZEN
OPEN UR US BANK ACCOUNT AS A NON-US CITIZEN USING TO TRADE FOREX 100% SECURE. 100% Legal account in a HIGH ranked US bank - Free VISA Platinum Debit Card to withdrawal your money with any world wide ATM machine . - Free First US Check Book ( 50 Checks ) - Works with PayPal , 2CheckOut , StormPay and other online Payment processors - Online Banking Access Facilities - No SSN ' Social Security ID " . No USA address Required - Non US Residents are accepted Fx michael will guide u teach you how to open your own US Bank Account as a Non- US resident ... using just a copy of your Passport .. After September 11 and the laws promulgated in the US Patriot Act , opening a US bank Account as non resident became almost impossible . Here you have found a simple solution for Non - US Residents to easily open a US Bank Account . In Just 2 minutes you could have what you need to open your US Bank Account . Why do you want a US Bank Account? If you are selling using PayPal, E.Bay, 2Checkout, StormPay or any other common payment service, you know how expensive and time consuming is to get your funds in your country Getting checks emailed to you can cost anywhere from USD$ 5,00 to USD$ 30,00 plus the charges that your local bank will take for the international deposit. There are some services that wire the money to your local bank but there are not cheap, if available But the most important of all problems... THE TIME.
It can take weeks or even months to see your money. Specially if you sell ocassionally and your payment service have a high minimum required before send you the checks (PayPal requires USD$ 150,00 plus USD$ 12,00 for mailing costs. Let's face it -If you use PayPal or Ebay to make some money occasionally . You need a US Bank Account -If you have, or want to have, clients in the U.S . You need a US Bank Account -If you want to make serious business in the Internet . You need a US Bank Account *Now there are 3 ways you can open an account in the US : 1-How to Open an US Bank Account -Expensive Method . You can search in your local city if there is banks that gives this service. In many countries they ask for tons of papers and references. And a minimum deposit from USD$ 2000,00 to even USD$ 10000,00 (Yes, you read it right, ten thou- sands!). I don't think this is the best way. 2-How to Open an US Bank Account - Never ending Method. You can also spend weeks and months researching in the internet. Looking site after site, asking bank after bank , making phone calls and sending emails . Banks will give you answer like this: "You need a Social Security Number." "You need a US Address." "You need notarized documents." "You need to come to US to sign some papers." Some people spent monmths.... that's right, MONTHS trying to find out how to open a US Bank Account fast and without all the problems. I personallyspend over eight months until I could figure it out.... so, this is not a good way either. Finally, if you are lucky enough to get in this web site, 3- How to Open an US Bank Account. CONTACT FX MICHAEL FOR UR US BANK ACCOUNT OPENING 01-4316980 07057100226
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Hello fx traders once again
Hello fx traders once again this fx michael ur no 1 trader in nigeria,i and a group of nigerians investors have plan to open an office both in lagos and italy,dubai thats a register company in this countries were great investor or individual can invest with a return of 30% monthly which will be paid directly to respective account with our mass experience both in forex and oil and gas including real real estate we are confident thats your capital are in safe hand.
For more information about this great oppourtunity please contact fx michael or mr raymond ezema senior manager of ETB Bank along adeola odeku street for more information.
invest in RAYMIKE INVESTMENT ENTERPRISE
telephone number 07055047313 or 014316980
Hello fx traders once again
Hello firends This fx
New System 85%
New System 85% Profitability
Yea guys, just finished testing my new system, which is really a hybrid of earlier systems and from results so far on a live micro account, it is just gr8t. I will create a blogspot to post the templates and charts. So watch out for the "Pipsguru Hybrid System". How much will this cost? Absolutely nothing. If you know moi, I get enough from trading my systems and see it as an insult / (scam)? to sell anything to aspiring traders. Not when there is a 4 trillion dollars a day market to rip pips from.
Once again, keep your money and mail me if you need help, I will mail you some great books that have been written by traders that will help you master the fine art of trading the fx market successfully.
I am out. Nice day to ya all and keep piping!
pipsguru@megapips.com +2348081680800
Build confidence in FOREX
Build confidence in FOREX Trading | Tutoring, Tips, strategies (new office 07055047313)
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Develop the technique to trade Stress Free in the Forex Market. Once you have spent time looking at the information on our website, you have seen a tremendous opportunity is at your fingertips. The next question is: Is the opportunity for you?
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BRING YOUR QUESTIONS HERE - 07055047313
We mentor you to trade the Forex, the largest cash market in the world. Some of the Forex trading skills you will acquire:
1) The ability to spot a trade
2) When to enter a trade
3) When to exit a trade
4) How to limit risk
5) Learning methods of putting profit in your pockets while trading with no risk, and
6) Learn Methods of maximizing the profit within a trading range
HELLO FOREX TRADERs THIS FX
HELLO FOREX TRADERs THIS FX MICHAEL FOREXMENTOR,THIS A BROKER I AM INTRODUCING TO YOU IN THE NAME OF TRUST,RELIABLE,FAST IN WITHDRAWAL,LOT OF MONEY TO WIN IN FX COMPETITION,AND MUCH MORE.
I was employed by fxcast two month ago to manage,guide,train up comin traders from nigeria and to make sure that nigeria traders account are in safe hand thats they makin good money from the market now im trading 6 million naira with confident because i know my money is safe in my platfrom account makin good withdrawal without delays so i encourage you to sign up with them.
AS A REPRESENTATIVE OF FXCAST CONTACT ME IF U HV ANY ISSUE OF ACCOUNT OR WHAT SO EVER I WILL LOG INTO THE DATA BASE AND COMFIRM THE ISSUE.
IF YOU NEED HELP FOR FOREX TRAINING,FUND MANAGER,FOREX ADVISER,SEMINAR ORGANISER,ROBOT PROGRAMMER(ROBOT THAT TRADES WITHOUT LOSS BUT MAKE CONSTANT PROFIT) PLS CONTACT FX MICHAEL ON 07055047313 OR 23414316980 or visit www.forex-wealths.blogspot.com
Fxcast team IB
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Hello firends
FORUMS BASHING.
FORUMS BASHING.
I can see attempts to discredit forums below, and the reason is not far fetched. Forums still are the best source of forex education and systems as real traders put forward their discoveries for other traders to critique and improve upon.
Forums such as forex factory has some great systems, some which have gone commercial e.g the ozfx system, the pip boxer robots etc.
A lot of traders do not want to learn, they just want quick bucks. This greed is rooted in misinformation from trainers who themselves do not trade.
So here is my take as someone who has been there and done that, pay regular visits to the forums and if any trading system appeals to you, read the entire thread to get the gist, and pay particular attention to posts by the owner of the system.
cheers!
pipsguru@gmail.com +2348081680800
Free Indicators.
Free Indicators.
No one should waste money on indicators, there are very good and regularly updated indicators and expert advisors for free at www.forexfactory.com and www.forex-tsd.com. Just ensure you read the notes on how to use and tweak them and the time frame they can be applied to.
Don't be decieved, indicators are tools designed to make trading easier for you. Use them only for that purpose and you will enjoy having them.
Do not trade indicators that advise you to buy on sell folowing an arrow or a dot, they repaint themselves and are very unsuitable for short term trading.
I will upload some new ones, probably with their notes before the week runs out.
Cheers to all traders and shame to all shannanigans!
pipsguru@gmail.com +2348081680800
Set Realistic Targets.
Set Realistic Targets.
To trade successfully, set realistic targets and have long term results in mind. People who want to double their equity every day will end up losing it all. The sad truth is that any time you make money without a specific trading strategy and plan, the market is deluding you to ruin you.
A realistic target could be 10 - 20 pips daily which any nerd can easily hit with just a trade or two at the most, 20 pips on a standard lot will give you $200 five days in a week, and you don't have to sit all day before your computer.
The market is always there, so don't kill your trading career before it starts. Trading more is useless if you don't have the rules, strategy and discipline to stick with your plan.
Another way is to grow your equity by 5-10% daily, I do 10% consistently, and have been amazed at how good a trader I have become (he he he he!). I have had weeks without a single loss, I incur losses when greed sneaks in and make me want to kill the market. Yes I do rake in hundred of pips when trading condition allow, but my mantra is "give me this day, my daily 10 - 20 pips.
Winning is the best way to grow, no matter how small you start out, just make sure you are growing your equity and every week leaves you richer than it met you.
I hope I haven't insulted our gurus (?) who make hundreds of pips daily
Cheers and more pips to ya all
pipsguru@gmail.com +2348081680800
Hello Nigeria traders this
Hello Nigeria traders this fx michael our #1 forex trader live in nigeria,imagine you makin $300 daily with mine advance strategy without indicators or robot just timming and calculation with be makin this huge sum which is guranteem,If you are interested in mine one on one training pls contact me @ 014316980 or 07055047313
RED ALERT!RED ALERT! APPLYIN
RED ALERT!RED ALERT!
APPLYIN INDICATORS FROM THIS FORUM DOES NOT ASSURE U OF PROFIT COS WHAT U ARE APPLYIN ARE LAGGING INDICATOR AND I KNOW SOME HANDFUL OF U USES STOP LOSS WHERE U ENTER THE MARKET LATE AND THE TREND REVERSES U GET GET HIT.
ASK URSELF WHY DO WE HAVE 95% TRADES MONEY WIPE OFF OR NOT MAKIN PROFIT COS THEY GET FREE STUFF FROM THIS FORUM OR FAKE MENTORS PLS DESIST FROM THIS ACT AND FACE REALITY INVEST UR MONEY WHERE YOU GET THE RITE INFORMATION
CONTACT ME ON 07055047313 OR 014316980
WWW.FOREX-WEALTHS.BLOGSPOT.COM
CONTACT ME IF U NEED SOMEONE TO MANAGE UR ACCOUNT
Forex Trading Realities 1
Forex Trading Realities 1
Good day to ya all. I am frequently asked by many forex nerds and wannabees if forex trading is for real, and how come people lose money, despite their going by the books, and may be you too are wondering what forex is really all about.
1. Forex is not an exact science, you are basically trading on speculation.
2. The market is not ruled by you indicators, expert advisors and any trading robot.
3. You profit when your speculation as to probable market direction is right, and lose when your speculation is wrong.
4. The market is not dictated by any trading strategy or system, the best of all systems is still speculation.
5. The market is ruled by sellers and buyers, and the majority rules.
So before you take that loan, or sell your car to invest in forex, think twice, is it worth it all. I read an article in the This Day newspaper of 8th October 2008, about a Pastor who took a loan of 3million to invest in forex, and lost it all.
Never, never, never borrow to trade forex. I wonder if that pastor read the brokers advise never to trade what you cannot lose comfortably in the forex market.
I have made good money trading forex and have lost good money also, before I understand some basic fundamentals, that helped turn my losers into winners. Take my word for it, forex can mar and ruin you, so enter cautiously, and don't be fooled by the hypes on this or other sites. It is on record that a lot of people selling on stuff or the other to traders are not traders themselves, or traders who have ruined their accounts
That somebody is recommending a program does not mean it is working, that person could be an affiliate (a saleperson) who gets as much as 50% of the amount should you buy through the link they are sending you.
You want something that works, the do yourself a favor and study the many great system available at www.forexfactory.com. It is the best place to go and then read through your brokers agreements before you sign on, you will have a full grasp of the type of contract you are signing.
Again, I warn you, thou shalt not borrow to trade, if you think you are so good, then open a micro account for as low as $300 and trade micro lots, if you double that up every week, in one month you will be worth a grand or two, this is how exactly I eventually mastered the rope before I opened mini and standard accounts.
To all struggling traders out there, mail me, and i will send you TEMPLATES, INDICATORS AND MANUALS of a trading system or two that has been very profitable to trade. You will get these absolutely free - me I be trader, no be hawker!
Cheers
pipsguru@gmail.com +2348081680800
Hello fx trader this fx
President of straighthold
I am giving out a very
I am giving out a very simple trading system that will make 20 pips for you everyday !
However, i need you to demo trade the system for a week before you use it on your live account. The system works mainly on the eur/jpy pair.
Firstly, determine the trend of the pair by
1. Plot EMA 100 ,EMA 30 and EMA 20 on the 4hr chart.
*** If EMA 20 and 30 are below the EMA 100 = price is in a downtrend
*** If EMA 20 and 30 are above the EMA 100 = Price is in an uptrend
(EMA=EXPONENTIAL MOVING AVERAGE)
REPEAT THIS MOVING AVERAGES ON THE 1HR AND 15MINS CHARTS.
The above process is just to determine the trend of price.IT IS VERY IMPORTANT AND ADVISABLE NOT TO TRADE AGAINST THE TREND.
When price is in an uptrend...it is better to wait for price to go down then enter buy When price is in a downtrend...it is better to wait till it goes UP to enter SELL.
HERE COMES THE TRADING SYSTEM.
Plot stochastics on the 15mins chart and change the period to 8
When the EMA 20 AND 30 ARE ABOVE THE EMA 100...WAIT FOR STOCHASTICS TO GET BELOW 10 LEVEL..THEN ENTER BUY AND TAKE PROFIT AT 20 PIPS.
WHEN EMA 20 AND 30 ARE BELOW THE EMA 100...WAIT FOR THE STOCHASTICS TO GET ABOVE 80 LEVEL THEN ENTER SELL WITH TAKE PROFIT AT 20 PIPS.
HINTS ** THE FARER THE EMA 20 AND 30 ARE AWAY FROM THE EMA 100..THE STRONGER THE TREND.
** WHEN THE EMA 20 AND 30 ARE GETTING CLOSE TO THE EMA 100...TREND MIGHT BE CHANGING.
EMA 100 IS MOST LIKELY A RETRACEMENT POINT.
PLEASE PRACTICE AND STUDY THIS TRADING SYSTEM FOR 1-2 WEEKS ON A DEMO ACCOUNT BEFORE YOU GO LIVE WITH IT. I WILL APPRECIATE YOUR FEEDBACK IF IT WORKS FOR YOU. REMEMBER TO USE PROPER STOP LOSSES AND MONEY MANAGEMENT
BEST OF LUCK
QUADRI ABUBAKAR
ABQ_UPS@YAHOO.COM
Please note Please
Hi Ya All. How has it been
Hi Ya All.
How has it been with you all. Sorry for my rather long absence. i I have been pretty busy building new and tweaking old systems. I have made some great inroads that will guarantee profiting on a daily basis.
See you all soon, and thanks for the nice words, and SHAME TO ALL HAWKERS!!!
pipsguru@gmail.com =2348081680800
Yes. I have been following
E-GOLD @ #125 PER $1. BULK
OPEN UR US BANK ACCOUNT AS A
Hello All, It's been a long
TRADE FOREX WITH A PEACE OF
How to avoid getting scammed
How to avoid getting scammed when buying forex products
by Pharaoh
Before I give any other methods, let me state the 2 absolute most important things you need to avoid getting ripped off. These are EDUCATION and RESEARCH. If you don't understand these, then the rest of the advice I'm about to give will not be nearly as useful.
Too many people get into forex with a dream of making big money very fast. Yes, it is possible to make a lot of money very quickly trading forex, but more than 90% of all traders lose. If you don't educate yourself about forex trading, you WILL lose money, and you will lose it quickly. Educating yourself about forex trading won't guarantee that you make money, but it will certainly slow your loses and arm you against the legions of people selling "You can get rich quick in forex if you'll buy my product right now before I raise the price!" type products. A few of these are worthwhile, but most are not.
One very easy way to avoid getting ripped off is to not buy anything at first. If you are new to forex, you probably haven't even decided if you want to scalp the 1 minute charts, trade the hourlies, swing trade, or carry trade. If you don't know what these terms mean, put your wallet away and don't buy anyone's "guaranteed profits" products until you at least understand the basic terminology.
To get educated, there are many places you can go. Felix is adding educational sections to the FPA forums. Also, dig through the old postings in the various folders of the FPA's forums. So many questions have been asked and answered. If you want to follow the Daily Trading Signals, visit the Daily Trading Signals archive and look at how Sir Pips not only predicts market reactions for the coming day, but also how he discusses what happened the day before. Once you've read through the collected wisdom of FPA's forums, don't forget to check the educational material on many other websites. Many brokers have basic forex courses available for free.
Whatever you do, don't spend even 1 penny until you've gone through at least some of the tons of totally free material available on the FPA website and elsewhere on the web. There are plenty of people who will charge you anywhere from $10 up to many thousands of dollars for materials that turn out to be a low quality ebook or a painfully bad set of videos to cover the simplest material that you can easily find for free on the web.
Ok, assuming you've successfully educated yourself about the basics of forex trading, now you hopefully have some idea of how you would like to trade. Some people want to place a few trades per day (or only a few per week). Others want to make dozens of trades per day. If you haven't found something for free on the web that suits your style, now is the time to consider shelling out some cash. Before spending anything, you should do some research.
A good place to start is FPA's review pages for forex products. New products come out every day, so you may see ads for things the FPA doesn't have reviews for. If one of those products really tempts you, use the "Submit a Site" button from the correct category and the Review Moderator will probably create a page for it. You can also submit a request for a discussion thread in the Forex Services Discussion area.
If you find something interesting that is reviewed, don't buy it just because it has 4 or 5 stars. Read the reviews! Recently, there was a trading room with a 5 star rating that turned bad. FPA's ratings are a simple average, and there were so many 5 star reviews that it took a long time for it to drop to 4 stars, and even longer for it to drop to 3 stars. If a product suddenly shifts from getting almost all 4 or 5 stars to almost all 1 or 2 stars, this is a pretty strong indicator that something has changed (and not for the better). Another reason to read reviews is that some reviewers are MUCH more informative than others. If someone has live-tested some software for 3 or 4 months, I'd personally give that person's opinion a lot more weight than someone who used it for 3 days and then posted a 5 star rating with a promise of an update later.
Although I firmly believe that FPA's ratings are the best on the web, it is not a bad idea to run a web search and see if other review sites and other forums have any additional information on a product.
Assuming you've done all of this, you aren't quite done yet.
You'll need to select a product that fits you. Some signals come at a certain time of day and are set and forget. Others can come at any time of day or night. One time I almost signed up for a very highly rated trading room, but then saw that they primarily traded the London open (which is the middle of the night for me). Some trading methods are profitable, but have very large drawdowns that might be a bit too stressful for some traders (like me!). Some software only works with MetaTrader. If your broker uses it, fine. If not, then you will have issues. Even if it is a great product, you'll waste your money if it doesn't fit your schedule and trading style.
A little work with a whois site can show you how long a website has been around. Be very cautious if a website has endorsements claiming that a product has been successful for years when the product's website only hit the market a few months ago. This doesn't guarantee that the product is a scam, but it is a major reason to be cautious and ask a lot more questions before buying the product.
See if the product has any sort of performance record. Some do, some don't. Remember, even if it has a record that is independently audited (definitely a plus), your results will still vary depending on your exact entries, exits, and spreads. If you don't believe this, read where I report my results from testing signals from Intelli4x.com. Overall, I've usually been very lucky and do better than the "official" profit reports (but sometimes, it goes the other way and I make less). Your broker's spreads, as well as your exact entries and exits will make it almost impossible to match even a 100% accurate performance record pip for pip. If there is a performance record, see if any reviewers have made comments on how accurate or inaccurate it is.
Check and see if there is a moneyback guarantee. If you contact the company and they say they've never had anyone ask for their money back, ask them why they don't offer a guarantee since this should put them at no risk if they are telling the truth. Anyone claim that a moneyback guarantee isn’t needed because everyone has always loved the product should be a major red flag. There are some products that cost many thousands of dollars that have absolutely no guarantee. Maybe these products are good, maybe they aren't. I'm not going to risk my money to find out.
If there is a guarantee, check the reviews to see if there have been any issues getting money returned. Sometimes a return takes awhile, but it should happen. Also, read the terms of the guarantee. Some EAs will only give you your money back if you show them a live account statement for an extended period. Even trading nanolots, this could easily cost you more than the price of the EA. If they won't accept a demo statement showing it's not profitable for a refund, think very carefully before buying it. Also, beware of guarantees that just don't give you enough time to fully evaluate the product.
Free trial periods are also good. Like guarantees, they need to be long enough to evaluate the product. For most signals services, trading rooms, and strategies, I'd say that 2 weeks should be the absolute minimum for a free trial or guarantee.
Consider the price. If you can barely scrape up $500 to start your forex trading career, then spending $100 or more a month on a forex signals service or a trading room probably won't be a winning proposition for you. Buying a $1500 education and strategy course would also not be the best idea if you are doing forex on a budget. Unfortunately, in the forex world, price and quality are not tightly linked. There are products ranging from complete scams all the way up to amazingly well performing ones in all price ranges.
I hate to mention this, because this may tend to unfairly condemn some very good products. Look and see if the product has an affiliate program. Products that pay customers (or even non-customers) a large commission to resell the product tend to get very high reviews. Some of these reviews may be 100% legitimate, but some may be from people who are much more concerned with their ability to point out how well rated the product is so that they can sell it to others. Some products offer commissions as high as 75% of the price of the product. If the commission is that high, you have to take the 5 star reviews with a very large grain of salt. I see absolutely nothing wrong with getting a cut if I love a product and introduce a friend to it, but when the cut starts to get too big, I worry about the accuracy of reviews here and other info elsewhere on the web. I'm sure some of these products are great, but it is so much harder to get unbiased opinions of them.
OK, let's assume you've found a product that meets your needs, fits your price range, is well rated, has nothing suspicious in its reviews, has a good guarantee and/or free trial period, and doesn't have any other extensive negatives. This is good. You probably aren't going to get ripped off. Congrats, your potential purchase has cleared the initial scam avoidance test, but there's still a lot more you can do to protect yourself.
Email some questions to customer support and see how long it takes for them to answer (or if they answer at all). Some products don't really need a lot of support, but others are very complex. If you can't get an answer out of a company before giving them money, they aren't too likely to trouble themselves over you once they have your money in their bank account. Check and see if they've got a contact phone number. If so, give them a quick call, just to make sure it is a real number.
Consider carefully how you make your purchase. It's nice when a company offers you multiple ways to pay, but some payment methods offer better protection than others. Wire transfer really isn't much better than handing someone an envelope full of cash. Unless you can prove fraud in a courtroom, you are not likely to be able to get money back from a wire transfer if a company's product fails to perform and they aren't willing give a refund. As far as various e-currencies and e-metals, I don't have any information about what sort of dispute resolution or fraud protection they do or don't offer. PayPal does offer some buyer protection, but sometimes places too high of standards of proof on the purchaser (as one of our members found out when he bought an EA that didn't work as he expected). So, what does this leave?
Overall, I have had excellent results with credit cards. This may vary a bit depending on the issuing bank, but Visa and MasterCard both impose very high standards on the banks, and can be contacted directly if the issuing bank gets lazy. Another very useful bit of information is that you can often request a chargeback when complaining about something bought with a credit card. Chargebacks cost the company you are complaining about a penalty in addition to the amount that is refunded to you. Make sure to explain why you are requesting a chargeback. Valid reasons would be things like the company failing to deliver the product, failing to honor a moneyback guarantee, or a product description that is so innacurate that it could be could be considered fraudulent.
Products sold via ClickBank come with a default 8 week guarantee. Sellers may offer guarantees beyond this, but can't have anything less than 8 weeks from the initial purchase (recurring subscriptions are a little more complicated). Products offered via ClickBank and paid for with PayPal or a credit card would then give you 2 layers of consumer protection.
If you get a product or service with recurring billing, make sure to CC at least one of your own email addresses if when you sent the email to cancel (don't even think of only telling someone to cancel via the phone or in a chat - email and request an acknowledgment). That will give you a copy of the email with all headers, thus giving more proof that you did email the cancellation in time. Make sure to send you cancellation to all the addresses you have for the company (and again, request an acknowledgment). If you do get charged after canceling, don't scream scam right away. Contact the company first and give them a week to fix it. If they don't, then it's time to talk to your credit card company, ClickBank, or PayPal.
I can't promise that following all of this advice will save you from being scammed 100% of the time. If you do follow my recommendations, you should improve your odds of not wasting your valuable time (and money!) on the products that aren't right for you or are scam. Also, you should have a better chance of recovering your money of you do get caught in a scam.
Don’t forget. With any new software, trading room, strategy, or signals service, test them with a demo account and then a very small amount of cash at first. Read my article on Risk Management for more details.
for more, visit www.forexpeacearmy.com
pipsguru@gmail.com +2348081680800
THE FACTS ABOUT PAYPAL IN
THE FACTS ABOUT PAYPAL IN
Are you consistently
COURSE CONTENT 1 on 1
There is an often used
THE 25 - 50 EMA SYSTEM
THE 25 - 50 EMA SYSTEM
Here is the link to the 25-50 ema system, a simple, but very powerful and profitable system. Do read all the posts on the thread.
http://www.forexfactory.com/showthread.php?t=46048
Cheers
pipsguru@gmail.com +2348081680800
Forex Factor X
Forex Factor X
I found this somewhere on the net. Haven't even read it yet, so enjoy and let me know if it is worth trading
http://www.forexfactorx.com/hidden/access.html?
Cheers
pipsguru@gmail.com +2348081680800
Know Your Angles.
Know Your Angles.
A lot of trading systems and strategies involve the use of moving averages, and these serve as a good system component.
Whatever moving average system you are using the angles at which they cross and their order of crossing will contribute to a higher percentage of winning trades.
there are 3 angles every trader must know, but the steeper the angle at which you averages cross, the more better the trades.
12, 1, and 2 O'clock angle are good for buy in any time frame and 3 0'clock is a no entry angle, as is often the case, your moving averages will enter into a dna spiral, avoid trading during such times and 4,5,6 0'clock are good sell angles.
Hope you get the gist, if you didn't, then just forget.
pipsguru@gmail.com +2348081680800
Hi, Howz it going?
Hi, Howz it going?
Hello ya all, hope the markets has been favorable, took a leave of absence (lol) to attend to some personal projects, hope no one has fallen prey to scams on this page. I am back full steam, and will post some fresh strategies and insights.
Thanks to all of you that mailed moi and called, it was quite encouraging. Please just bear with moi, I am trying to host a library in www.megapips.com and I am moving to a different hosting company, I have evolved to trading terms, and scalp less these days, I will have time to mentor more traders online and pay back what I have learnt and profited from over the years.
Meanwhile, keep up with your trades, do not back out, learn from all your trades - losers and winners. You can join the league of profitable traders. Do not give up, trade cautiously and confidently.
Here is a gift to ya all
http://rapidshare.com/files/84150610/One_More_Zero_How_To_Trade_The_Fore...
And here is a system that may help you guys, though I haven't used it, but do trade it cautiuosly.
http://forexkid.blogspot.com/search/label/Trading%20Systems
Do not let a day go by without visiting the followings
1. www.babypips.com
2. www.forexfactory.com see trading systems page and read through all the post on any of the 5star rated systems, they are the best, and have really helped yours sincerely to grow over time.
3. www.forex-tsd.com
4. www.forex-strategies-revealed.com
To all newbies, go back to other pages, I have a lot of posts that should help.
Lastly, will real traders stand up on this page and help chase out these hungry hawkers of worthless books, programs and systems.
The very best of forex books, strategies, systems, indicators and expert advisors are all available for free on different forums on the net. Just use a search engine, and you will be amazed at what is waiting to be picked up.
Forget hyped seminars, I have the link to a series of video on the meta trader i will be making available free of charge once I am settled in.
Cheers
pipsguru@gmail.com +2348081680800
Ps. I make my home in abuja, should any of you visit, just call moi, we could discuss over lunch and share trading tips and strategies, who knows!!!
I am Michael Abubakar Garuba
EARN $150 DOLLARS
EARN $150 DOLLARS CONTINOUSLY TO INFINITY WITHOUT HARD LABOUR ,COULD EARN $30,000 DAILY IN THE POWER OF ONE (THATS TO SAY WITH JUST A PERSON THE SKY IS LIMIT TO YOU) FOR MORE INFORMATION PLS CONTACT MIKE 07038971939
<a href="http://www.web20millions.com/id/mike" title="Web 2.0 Millions; Home based business,online business.1up system,amazing network business"><img src="http://www.web20millions.com/banners/CashBanner.jpg" alt="Web 2.0 Millions; Home based business,online business.1up system,amazing network business :: web20millions" border="0" /></a><a href="http://www.web20millions.com/id/mike" title="Web 2.0 Millions; Home based business,online business.1up system,amazing network business"><img src="http://www.web20millions.com/banners/CashBanner.jpg" alt="Web 2.0 Millions; Home based business,online business.1up system,amazing network business :: web20millions" border="0" /></a>
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When will it close?and what
I am very sure FX Micheal is
I am very sure FX Micheal is
Failure is a man who has not
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