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Friday, established a Forex widow for investors and exporters. Bank’s Director in charge of Financial Markets, Dr Alvan Ikoku,in a circular, said the purpose of the window was to boost liquidity in the forex market and ensure timely execution and settlement of eligible transactions. Ikoku listed eligible transactions under the new window to include invisible transactions such as loan repayments, loan interest payments, Dividends, Income Remittances, Capital Repatriation, Management Service Fees and Consultancy fees. Payments’ as detailed under Memorandum 15 of the CBN Foreign Exchange Manual. Ikoku said the invisible transactions under this window excluded international airlines ticket sales’ remittances. He said that the window covered Bills for Collection and any other trade-related payment obligations, which are at the instance of the customer.
Wholesale, that is Spot and Forwards sales. The supply of foreign currency to the window shall be through portfolio investors, exporters, authorised dealers and other parties with foreign currency to exchange to Naira. Ikoku advised authorised dealers to promote market transparency by encouraging their corporate clients to ensure the activities of the window are operated on the forex trading systems. As part of the operational requirements of the window, Ikoku said the exchange rates of the transactions in the window shall be as agreed between authorised dealers and their counterparties. He also said that the CBN reserved the right to intervene as a buyer or seller, as it deems fit, in the window, adding that information on transactions between authorised dealers would be reported to the CBN on a daily basis. It will be recalled that the CBN had injected over 380 million dollars into several segment of the foreign exchange market this week alone with hope of improving FX liquidity in the market and firm up the value of the Naira. Premature Ejaculation, 43 Year Old Man Finally Discovers The Secret Solution That Mysteriously Jerk His Dead Manhood Back To Life,Increased His Penis To 8.
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The Authority’ on Price Action Trading. In 2016, Nial won the Million Dollar Trader Competition. You will notice that I have grouped together various quotes that relate to the same trading topic so that you can quickly reference inspiration and insight on the topics you are most in need of help with. To read my very firm view of which form of market analysis I prefer, check out my article on news trading. I am primarily a trend trader with touches of hunches based on about twenty years of experience.
Those are the three primary component of my trading. Way down in a very distant fourth place are my fundamental ideas and, quite likely, on balance, they have cost me money. I’ve never met a rich technician. It’s such an arrogant, nonsensical response. I used fundamentals for nine years and got rich as a technician. If you’ve followed my blog for any length of time you probably already know how I feel about mechanical trading systems, expert advisors and robot trading software.
If you don’t know, check out this recent article I wrote on the truth about automated forex trading systems or robots. I have spent some time working with expert system developers, and we concluded that trading was a poor candidate for this approach, because trading decisions encompass too many types of knowledge, and the rules for interpreting the information keep changing. It is experience and gut feel. I use all forms of technical analysis, but interpret them through gut feel. I do not believe in mathematical systems that always approach the markets in the same way. I might be one of the few trading educators who will tell you that, but it’s the truth. I’ve written many articles dealing with trading psychology and behavior and how significant attaining and maintaining the right trading mindset is.
I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime. I just lost my money, now I have to do something to make it back. You should sit there until you find something.
I haven’t seen much correlation between good trading and intelligence. Some outstanding traders are quite intelligent, but a few aren’t. Many outstandingly intelligent people are horrible traders. Beyond that, emotional makeup is more important. A lot of people seem to be unaware of the fact that they are trading with a mindset that is inhibiting them from making money in the markets. Instead, they think that if they just find the right indicator or system they will magically start printing money from their computer.