InvertedHammer: Back with my Hammer.

Yes, you can make money in forex. People are quick to jump to conclusion after many days/weeks/months of trading forex. But the bottomline is that it is not as easy as it may seem at inception.
Left alone, forex trading is a very lucrative business. However, there are other factors that make it a dangerous/wasteful endeavour. These factors include but not limited to:

1. Unscrupulous brokers: They widen the spread during news events. E/U can go from 2 pips spread to 12 pips spread in seconds. This move tends to take out people's STOPs.

2. Unscrupulous brokers 2: The brokers use in-house fund to trade against their clients. People blame the MM brokers. But these are the only brokers that an average JOE can afford.

3. Unscrupulous brokers 3: They let prices go beyond the set STOP LOSS before closing a losing position. If your STOP LOSS risk is 100 pips, they let it run to 129pips (usually some off number) in times of increased volatility as such maximize how much they could squeeze out from their clients.

4. Unscrupulous brokers 4: This is very common. The platform becomes frozen and one is unable to close or open positions. Your profit disappears right infront of you. Noticeably, your STOP LOSS will be triggered after they have milked the account.

5. Money Management: Need I say money?

Apparently, most problems in fx trading arise from the brokers especially the ones that are domiciled in unregulated economies. Your strategies may work, your style could be impetuous, your defense could be impregnable, but will your broker let you walk away with all that money?
Remember the money is not yours until your withdrawal request is fully processed. Back in the day, some brokers were known to pack up and disappear with clients' funds.

Pipsland78:



This is why I dont encourage folks to go into forex trading because it's not suitable for everyone.

Zither: ...

Zither: I thought your mission is to 'encourage' folks to go into forex trading.... Mehn, you are suffering from an overdose of chronic confusion...your mind has undergone severe malfunction and you need urgent medical attention...



Your posts are indicative of someone who is still under a cloud of stupor after his last drinking spree - aimless, disorganized, and utterly confused..



Bros, could you reiterate why you created this thread if it is not to encourage folks to trade forex...?

Pipsland78: Here it is again, click on the attached link (detailed statement) to view the full trading history.

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Pipsland78: ^^^^ nincompoop

beejaay:
let me try and point out the absurdity in the statement u pasted.

Deposit=198$
Lot used=0.07 and 0.14 (for 0.07 all that is needed to av your account wipped off is 250pip and 120pips for 0.14 lot)
profit factor= less than 5%
profit ratio=less than 20%
LOSS MARGIN= OVER 50%
money management=extreme overleverage.
what i can see from the statement pasted is that u are an extremely aggressive trader which is contrary to what you have been saying all through your post( this is only so if u are saying the truth) or u are just a gambler that doesnt know what he is saying (this assuming you are lying).

am not going to say you are lying but you are not saying the truth at the same time. the information you provided is too vague to conclude from. if you want us to truely access and look at your statement you should post the whole account summary analysis (this include the graph and the account analysis under it).if u truely wanna show ur statement, save ur history as detailed result and then upload it here otherwise what u posted is sham

erniok:
you are an i/d/i/o/t and a silly one at that. you are here soliciting https://www.nairaland.com/502155/forex-trade-alerts/5 soliciting for clients. from 2010 you have deciphered how to make forex work, you are not yet a billionaire. every year you keep deciphering the patterns mr. fxjunkie/pipsland/chidi. i got my eyes on you bro. no more scamming.

Pipsland78: ^^^ Now listen up Doyin, be very careful how you attack me cos I could be quite ruthless. Why are you linking my name with scam? Did I scam you, anybody you know or has anyone at anytime ever said I scammed him/her? Do you even know the meaning of scam?

I can tolerate many things but tarnishing my image for no reason is a red line which should not be crossed and I'll be more than willing to declare a full scale war with anyone, and I mean anyone, who tries to tarnish my image.

Let this madness stop and edit your post otherwise you gonna have a crazy dude to contend with that even your sister, Abosede Deborah, will feel your pain.

Pipsland78: A very smart trader with a very inquisitive mind would learn and gain more by looking keenly at the statement than by my just dropping alerts. Dropping alerts is similar to giving a hungry person fish to eat for one day, question is would the person keep giving the hungry dude fish everyday? How sustainable would such be?

Truth is a lot of folks are just too lazy to do indepth study, they just want alert so they could make money instantly. But this approach is really short-sighted and not the best. Forex trading is not a get-rich-quick scheme, it takes years to learn before becoming profitable in the long term.

Pipsland78:
Umnnn...I'm not sure it's my statement you were referring to with the so-called 20% profit ratio and 50% loss margin you pointed out, I really hope you did a bit of accounting in school.

Now let me educate you, my lot size depends on what I term "probability ratio". If the probability ratio of being profitable is very high, I use a rather large lot size; if it is low I use small lot size. Now look at the losses and you will realize the lot sizes werent big. My strategy allows for so much flexibility because the market is very dynamic. Most of you are quite rigid in your approach which isnt the best in dealing with something as dynamic as the market.

One thing I dont know how to tolerate is being criticized by someone who hasnt done better; I only accept criticism from people who have achieved more than I have. In other words I only look up, not sideways and definitely not down.

Ok, teach me how to properly upload the detailed account statement. I dont know how which is why I used the html doc. I'm a forex trader, not a computer guru.

fxdee:

Good work here to start this thread!...pls can we start learning as ur motive is to impact knowlegde to d newbies..pls let start something in this direction like others who have been so helpful to share there knowledge and strategies...Thanks

beejaay:
am not going to join words with you. if u are truely wat u claim u are then u will knw what its called trade management versus risk analysis. looking at ur halfbaked history i can clearly see that its to the negative side.
we are not here to fight over what u make and dont make ( i dont care if u are the next soro ), no one is fighting over turf here. am sure more than that.

takia bro

Pipsland78:
I've learnt only to respond to reasonable people and posts, and you sound really reasonable. Yes I wish to teach newbies a thing or two about trading but I'm not dropping alerts because it's not of much importance. I'm going to be using my live account statement to teach as well as give tips on things to avoid and things to look out for before trading. I love to be very practical and down to earth while teaching.

First let me do a bit of introduction: I started trading in 2007, by 2009 I had blown my account up to 20 times and lost every dime of mine to the market. I was really frustrated but I never gave up; I kept on paper-trading believing that someday I'll get it right.

In 2010 I discovered a very simple strategy that seems to be very profitable after backtesting it up to a year, but at this point I had no more cash to pump into my account as I had lost all my cash to the market. I thought hard and long on how to raise cash so I could go back to live trading due to the new strategy I discovered (which wasnt perfect yet but was working to an extent).

Since I'm not the type to ask people for money, I decided to put my skill to work by working for people in order to earn enough cash for my live account. So I decided to look for clients who would want me to trade for them and pay me a certain percentage after making profit. I used my demo account statement as my marketing tool; this paid of as I later got a client whom I traded for and he kept his part of the deal by paying me my due as agreed. I transferred this money into my own live account and started trading. Over time and despite some hiccups along the way, I was able to grow that cash until I was able to open several other accounts (including pro account which, back then, required minimum of $20,000 to open) as a way of diversifying.

Today I'm happy because I'm a success story and, yes, I love to brag about my trading skills because I worked really hard for it.

Moral of the story is dont ever give up if you truly believe in something and there is always a way out of every difficult situation, all you need do is look inwards and tap into whatever skill you have. Lastly, hardwork pays.

This is my first lesson.

makforex: Dear fellow traders,am not saying your proof is not true but to me the only way to prove your true acct details, either demo or real is by posting here your broker's name, your trading acct no and your investor's password for us to check it ourselves.that is the only genuine way in forex market to prove any acct details. Any other way can be manipulated and is not acceptable.

Pipsland78:
Umnnn...I'm not sure it's my statement you were referring to with the so-called 20% profit ratio and 50% loss margin you pointed out, I really hope you did a bit of accounting in school.

Now let me educate you, my lot size depends on what I term "probability ratio". If the probability ratio of being profitable is very high, I use a rather large lot size; if it is low I use small lot size. Now look at the losses and you will realize the lot sizes werent big. My strategy allows for so much flexibility because the market is very dynamic. Most of you are quite rigid in your approach which isnt the best in dealing with something as dynamic as the market.

One thing I dont know how to tolerate is being criticized by someone who hasnt done better; I only accept criticism from people who have achieved more than I have. In other words I only look up, not sideways and definitely not down.

Ok, teach me how to properly upload the detailed account statement. I dont know how which is why I used the html doc. I'm a forex trader, not a computer guru.

Pipsland78:
Umnnn...I'm not sure it's my statement you were referring to with the so-called 20% profit ratio and 50% loss margin you pointed out, I really hope you did a bit of accounting in school.

Now let me educate you, my lot size depends on what I term "probability ratio". If the probability ratio of being profitable is very high, I use a rather large lot size; if it is low I use small lot size. Now look at the losses and you will realize the lot sizes werent big. My strategy allows for so much flexibility because the market is very dynamic. Most of you are quite rigid in your approach which isnt the best in dealing with something as dynamic as the market.

One thing I dont know how to tolerate is being criticized by someone who hasnt done better; I only accept criticism from people who have achieved more than I have. In other words I only look up, not sideways and definitely not down.

Ok, teach me how to properly upload the detailed account statement. I dont know how which is why I used the html doc. I'm a forex trader, not a computer guru.

fxdee:

Nice one!..i got to know forex too in 2007 thru Mr. Adeyeri that use to write in the newspaper..jst like somebody said here,i ve been active and passive never in one moment take it serious maybe cos of dis our 24/7 job...i ve lost a lot of money to people trading for me( i cant even go to that) even to brokers like crown forex,northfinance etc...i have made up my mind to get serious about it...i dnt even need somebody to convince me that forex is real...i ve made up my mind to get serious.i always ready to learn .i believe no knowlegde is lost.i thank the likes of rozayx,endfx,uncleanna,toks2008,..etc...thanks for the first lesson...looking forward for more.cheers!