Hello everyone,

I am glad to announce to you that ScopeMarkets has commenced business in Nigeria.

We are starting this thread to have yet another interface through which we relate with the Nigerian FOREX trading community.

We will be posting helpful and educative tips here going forward.

Thank you.

HOW TO DIFFERENTIATE BETWEEN A MARKET MAKER AND A STRAIGHT THROUGH PROCESSING BROKER


Good afternoon everyone,

Today I will like to show you something very important. It can be a major deciding factor on whether or not you will be successful as a FOREX

trader. I will be showing you how to differentiate between a Market Maker and a Straight Through Processing (STP) Broker.

1. Simply click on the “new order” tab of the metatrader terminal.

2. If you see the screen shot shown below, the Broker is a MARKET MAKER.

Note the part highlighted in yellow.

A Market maker has conflicting interest against the Trader.

Some go down right dirty and do whatever it takes to make your account crash.

When you buy/sell, the market maker takes the opposite side of your trade.

Your loss is thus their profit.

Do well to quickly check and see if you have been trading on the platform of a Market Maker.

RETAIL SALES IN JANUARY

Good morning everyone,

at 10:30 am (local time) we will be having the retail sales (m/m) for Great Britain.

The report usually impacts the market highly but there is something very important which Traders need to take into cognizance concerning

retail sales in January.

The festivities in the month of December usually see people buying and distributing gift items. This usually implies that retail sales report for

the month that follows (January), will be higher.

For the reason stated above, it is usual for the market to almost ignore a slight upward increase in the number.

I hope this short article has benefited the reader.

Do have a profitable trading day!

NEW PRODUCTS AND SERVICES FROM SCOPEMARKETS

Hello everyone,

In my previous post, I showed us how to differentiate between a market maker and a true Straight Through Processing (STP) Broker. I showed you how that the Market Maker has completely conflicting interest with the trader, this is the reason many of them go down right dirty and do whatever it takes to crash your account.
We at ScopeMarkets, have the interest of the trader at heart because we are a true Straight Through Processing (STP) Broker.
This year 2017, we have added a number of products and services which will benefit the trader. Some of which are:
• FREE beginners classes : 2 lecture hours for 3 days

• A complementary intermediate and advanced FOREX course for every client that opens an account and deposits at least $200


• A series of highly informative and educative webinars where a broad spectrum of subject topics will be taught and discussed.

• Traders Clinic which will hold once every week. Here, traders can network with like-minded people and bring forth issues that bother them regarding the FOREX market, discussions regarding the outlook for the new trading week will be done and then some.


• We will be holding seminars across Nigeria, visiting different geo-political zones and combing through the Trader community in Nigeria.

The above mentioned are a few of our new products and services for the year 2017.

Again, kindly be reminded that we have come to help Nigerian traders make great progress with giant strides as regard their trading career.

At ScopeMarkets, your success is what matters most to us.

Join us today!

www.scopemarkets.com

TRADE RECOMMENDATION

Good morning everyone,

EURAUD is the currency pair under analysis today.

Price is currently at the upper extreme of a demand channel.

Price has also close outside of the upper band of our one-day Bollinger band.

We expect a sell off on this pair towards the lower extreme of the channel.

A 2 or 3 - bar candle reversal pattern can be used as further affirmation for the trade.

Please trade with caution and kindly be informed that ScopeMarkets will NOT be responsible for any losses resulting from this trade recommendation.

Polarity change seen on EURAUD

Price also fails to make a new high at the close of the 1 hour candle.

The US Dollar Index Today

Hello everyone,

In focus today is the US Dollar index, seen on the 1- hour chart to be making lower lows with lower highs. This is indicative of a broad

spectrum weakness in the US Dollar.

Our outlook for today sees the US Dollar index making a new low circa 99.6X after which a 2 - bar reversal pattern on 1 hour chart will

serve as ample confirmation to begin to buy the US Dollar against other currency pairs.

https://www.tradingview.com/x/9u3y9vOZ/

Good morning everyone,

today we will be running through an in - depth analysis on USDCAD

Weekly time frame ------- UP (Resistance 1: 1.3315 and Resistance 2: 1.3547)

Daily time frame -------- UP (Resistance 1: 1.3316 and Resistance 2 : 1.3575)

1 Hour time frame ------ UP (Resistance 1 : 1.3161 and Resistance 2 : 1.3290)

We recommend taking a BUY position on this pair with stops at 1.3050

Please trade with caution and kindly be informed that ScopeMarkets will NOT be responsible for any losses resulting from this trade recommendation.

Hello everyone,

ScopeMarkets will be in Jos, Plateau State from the 21st - 24th of February, 2017.

We will be having FREE training!

We will be sharing tips and tricks on how to stay consistently profitable in this market.

Lots of gifts will be given out.

We want to have extremely interactive sessions with the FOREX Trading community in Jos.

Spread the word!!!