Simple Steps On How To Create a Real Octaforex Forex Trading Account

Let's take a step by step way to create a live forex trading account with Octaforex. Octaforex is one of the best broker for Cameroon, Nigeria, Ghana, South Africa, Tanzania and the whole of Africa, Europe, Asia and South America. 

Note that Forex trading involves risk and you need to accept the trading agreement before you create your live or demo account.

Create a Real trading account now https://octafx.com deposit and start trading live.

To open an account with Octaforex is as simple as a,b,c. 

• Register an account: Click open account at the top right corner of the home page menu.
• Fill in full name, Email and create password: Provide real name from the pop up menu, email and get your password.
• Verify your registration email: Open your email and complete your verification process while verifying the email. click "confirm email address".
• Fill Personal details: Here you have to fill your personal details such as country, city, phone number, date of birth. The information given must be correct and up-to-date and subjected to KYC procedure and verification. You must be above 18.
• Select a trading platform: Here you need to choose a trading platform and account type i.e real and demo. A demo account is just used for practice while a real account is used for real trading.

Octaforex offer 3 accounts depending on the trading platform.

1. Micro account on MT4, which is good for those still forging their way into the forex market. It has hundreds of built-in indicators for more convenience.
2. Pro account on MT5, considered for retail trading. It has more trading assets and more indicators and many time frames. 
3. ECN account on cTrader, a modern platform which suits all users.

• Complete your account choice:After choosing a platform, click continue for your trading account to be created.

Here your will see the details of your account like; Account number, Account type, Currency(EUR or USD), Leverage( you can still change it on your setting) and Balance.

• Verify your account with your national identity card by clearly snapping and uploading the two sides or use international passport. Deposit and start trading. Octaforex accepts bitcoin deposits and withdrawals.

Signup or create a real account here https://octafx.com Thanks for creating your live account.

You can also decide to trade with https://fbs.com an official partner of FC Barcelona.

For more on Forex trading Contact Cameroon Online School of Forex-CMRFOREX (+237675421156). The most influential Forex trading academy in Cameroon.

How To Create A Blockchain Account or wallet

Blockchain is the most used and the most powerful bitcoin and cryptocurrency wallet in the world. It was designed to send and receive bitcoin but can now accept more than 4 cryptocurrencies like STELLAR XML, BCH, BITCOIN, ETHEREUM, USDD.

A Bitcoin wallet address is composed of 32 unique characters which allows you to send and receive bitcoin. Once you create a blocKhain wallet, any currency in it has its own wallet where you can receive or send money.

To create a blockchain wallet, go to www.blockchain.info , click wallet, create your wallet. Enter an email address and password. Once you create it, your login details will be sent to your email which is a series of mixed characters and letters. All you need is to click it and enter your password to login.

BlockChain Wallet ID

A wallet ID also known as Wallet Identifier acts similarly to a username you use to access your email or login to your gmail account or Facebook. To login to your wallet, use your wallet ID, password and a 2 factor authentication if you enabled it.

Your wallet ID is a string of letters and numbers like this sample:

 

8a6fdded9-4253-534e-af6d-3fscbbf2db3cf

A wallet ID is used for login process and its different from receiving address. So it cannot be used to receive or send funds. That's the work of a blockchain address. Please never share your wallet ID with anyone.

How To Pair Your Blockchain Wallet to Use With Mobile App

A pairing code is a QR code allows you to sync your existing web wallet with iOS or Android device. Before you pair, make sure you have downloaded and install the latest version of blockchain for android or iOS. Once you open the app, follow these 3 steps on your existing wallet.

To pair your wallet with your mobile device, login to your wallet from a computer.

To display the pairing, click on "Show Pairing Code".

Once this QR code displays, you can scan it with your mobile device.

As with your wallet ID, you should never share your pairing code with anyone. The pairing code grants full access to your wallet and its funds. It should be used only by you when you wish to access your funds on mobile device.

How to send and receive money on your Blockchain wallet

• Click on send at the bottom of your screen if you are using a mobile phone and select the currency you wanna send.
• In the field, paste recipients's address or scan the recipient's QR code.
• Enter the amount you want to send.
• Once you are ready to send, click Continue to review the details of your transaction.
• Once verified, click send bitcoin or any cryptocurrency on your blockchain you wish to send.
• To monitor incoming and outgoing transaction on your wallet, click activity at the bottom left of your mobile app.

To receive money, click Receive and copy your wallet address and send it to your sender even through whatsapp, messenger, or even email or sms to fund your wallet. Once it is sent you will see it live on your wallet after 3 block confirmations.

Forex traders can use bitcoin to fund their trading accounts. To get the best broker who uses bitcoin to deposit (min $5) and withdraw ($1). Lowest spread, no swap and leverages of up to 1:3000. Signup here https://octafx.com or signup with https://fbs.com an official partner of FC Barcelona.

Contact +237675421156 to help you.

If you find our post helpful, you can simply copy this bitcoin address to chip in what you can to help us go for more research.

Bitcoin address: 1cNaVGe6feonPabcpJiSXbShUimURcKJ2 

Cameroon Online School of Forex, Rooney N.

Forex Trading Sessions and Times in Details by Cameroon Online School of Forex

Cameroon Online School of Forex presents details on Forex sessions worldwide. Cameroon Online School of Forex is the best Forex academy in Cameroon, CEO Rooney Nshing-Kingofpips, who founded the academy in 2018.

New York Session

New York (open 1 pm to 9p.m.) is the second-largest forex platform in the world, watched heavily by foreign investors because the U.S. dollar is involved in 90% of all trades, according to "Day Trading the Currency Markets" (2006) by Kathy Lien.1 Movements in the New York Stock Exchange (NYSE) can have an immediate and powerful effect on the dollar. When companies merge, and acquisitions are finalized, the dollar can gain or lose value instantly.

Tokyo Session

Tokyo, Japan (open 11p.m. to 8 a.m.) is the first Asian trading center to open, takes in the largest bulk of Asian trading, just ahead of Hong Kong and Singapore. The currency pairs that typically have a fair amount of action are USD/JPY (or U.S. dollar vs. Japanese yen), GBP/CHF (British pound vs. Swiss franc), and GBP/JPY (British pound vs. Japanese yen). The USD/JPY is an especially good pair to watch when the Tokyo market is the only one open, because of the heavy influence the Bank of Japan (Japan's central bank) has over the market.

Sydney Session

Sydney, Australia (open 9p.m. to 6a.m.) is where the trading day officially begins. While it is the smallest of the mega-markets, it sees a lot of initial action when the markets reopen on Sunday afternoon because individual traders and financial institutions are trying to regroup after the long pause since Friday afternoon.

London Session

London, Great Britain (open 7a.m. to 4p.m): The United Kingdom (U.K.) dominates the currency markets worldwide, and London is its main component. London, a central trading capital of the world, accounts for roughly 43% of global trading, according to a report by BIS.3 The city also has a big impact on currency fluctuations because Britain's central bank, the Bank of England, which sets interest rates and controls the monetary policy of the GBP, has its headquarters in London.4 Forex trends often originate in London as well, which is a great thing for technical traders to keep in mind. Technical trading involves analysis to identify opportunities using statistical trends, momentum, and price movement.

Overlaps in Forex Trading Times

The best time to trade is during overlaps in trading times between open markets. Overlaps equal higher price ranges, resulting in greater opportunities. Here is a closer look at the three overlaps that happen each day:

U.S./London (7a.m. to 4p.m): The heaviest overlap within the markets occurs in the U.S./London markets. More than 70% of all trades happen when these markets overlap because the U.S. dollar and the euro (EUR) are the two most popular currencies to trade, according to Lien. This is the most optimal time to trade since volatility (or price activity) is high.5

Sydney/Tokyo (7a.m to 8a.m.): This time period is not as volatile as the U.S./London overlap, but it still offers a chance to trade in a period of higher pip fluctuation. EUR/JPY is the ideal currency pair to aim for, as these are the two main currencies influenced.

London/Tokyo (7 a.m. to 8a.m.): This overlap sees the least amount of action of the three because of the time (most U.S.-based traders won't be awake at this time), and the one-hour overlap gives little opportunity to watch large pip changes occur.

Learn Forex trading with the Cameroon Online School of Forex-CMRFOREX. Whatsapp +237675421156.

Contact us to help you with the best forex broker for Cameroon, Africans and the world. Or register an account here www.fbs.com or https://my.octafx.com

Please always contact us before you register. Forex signals in Cameroon are a kingofpips free gift.

USDJPY Analysis today, 16th July, 2020

USD/JPY Forex Signal: More Bearish...

Volatility remains low compared to other major Forex pairs.

USD/JPY: USD weakness

Yesterday’s signals produced a profitable short trade from the bearish rejection of the resistance level identified at 107.42.

Today’s USD/JPY Signals

Risk 0.75%.

Trades must be entered from 8 am New York time Wednesday to 5 pm Tokyo time Thursday.

Short entry following a bearish price action reversal on the H1 time frame immediately upon the next touch of 1071.0, 107.42, or 107.76.

Put the stop loss 1 pip above the local swing high.

Adjust the stop loss to break even once the trade is 20 pips in profit.

Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.

Long Trade Ideas

Long entry following a bullish price action reversal on the H1 time frame immediately upon the next touch of 106.43 or 106.15.

Put the stop loss 1 pip below the local swing low.

Adjust the stop loss to break even once the trade is 20 pips in profit.

Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.

The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar, a doji, an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the price action that occurs at the given levels.

USD/JPY Analysis

I wrote yesterday that I was prepared to trade a reversal of any spike after the Bank of Japan’s release to either 106.42, 106.15, or 108.23.

The Bank of Japan’s release did strengthen the Yen somewhat, but no spike was made to any of the key levels identified.

The price has broken below the pivotal level at 107.10 and now looks more bearish but has not yet tested the recent lows just above 106.60. Volatility remains low compared to other major Forex pairs.

We are seeing more specific weaknesses in the U.S. Dollar which is pushing the price down.

If the price can go on falling to get established below 106.00, this would be a major long-term bearish breakout.

However, I feel the best bet for traders will be betting against this, by trading long any reversals at the long-term pivotal support at 106.15 in the unlikely event this sets up later today.

There is nothing of high importance scheduled today regarding either the JPY or the USD.

Cameroon Online School of Forex

Whatsapp +237675421156

Learn Forex trading with us.

Listen to An Experienced Forex Trader

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Cameroon Online School of Forex trader making profit. Whatsapp +237675421156 to learn Forex trading.

Hello, traders! Meet an experienced analyst from Indonesia, who joined FBS team in 2007! Reza Aswin! He would like to share his trading journey with you and give useful advices for beginners! Sign up for a trading account here fbs.com is one of the best brokers in the world.

How and why did you become a financial analyst? 

When I got a master degree in the global marketing in 2000, the university offered me a scholarship to study macroeconomics in international trade. While I was studying, I was working as a marketing analyst in a water company in Jakarta, Indonesia.

 In 2005 I quitted my job and joined a futures brokerage company as an investor. Finally, in 2009 I became an analyst in a financial company.

What is your approach to analyzing markets? 

When I’m analyzing the market, I mainly use fundamental analysis. This approach can help to define the direction of the market for a short, medium and even long term.

What are your favorite technical tools and indicators? 

I prefer using candlestick patterns and the Fibonacci retracement.

What do you think about trading on the news? 

Trading on the news may be risky if we do not master fundamental analysis and do not understand economic data and effects that will occur in the future. Detailed fundamental and technical analyses and also risk management can help you to minimize losses in every trade. 

What is your favorite trading instrument? How often do you trade? What trading style do you prefer? 

Financial and economic data plus geopolitical factors are my favorite instruments. They help to find out the current market movements. Moreover, I choose the currency pair based on the current focus of market players.

 Speaking about the style of trading, I usually wait for the strong trading signal, thus minimizing the risk that occurs in every transaction.

What advice can you give to novice traders? 

Beginners always make the same mistake. They look at future profit opportunities, but forget about risks. As a result, when prices don’t move the way they expected, they start to panic and make even more losses. In addition, newbies often have the wrong money management. It’s a mistake to think that the small capital can generate large profits. 

Instead of that, you should understand that only the optimal capital will produce maximum profits with a relatively low risk. I highly recommend novice traders to invest their time in learning before investing their money. Many beginners don’t do this, that’s why so many of them fail.

Before you open a position, consider these 3 things.

Money Management: Money Management is not a risk and reward, but it is a standard calculation of your potential profits and losses. The main idea is to define the optimum capital for each transaction to generate maximum profits with low risks. 

Fundamental Analysis: The understanding of fundamental analysis will greatly help you to find out the future direction of the market.

 The knowledge of macro and microeconomics allows you to predict the movement of certain currency pairs.

Technical Analysis: Technical analysis helps you to determine entry and exit points in accordance with the direction of the market based on existing fundamentals. 

If you use all the above in combination, you will minimize your risks.