Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,195,398 members, 7,958,146 topics. Date: Wednesday, 25 September 2024 at 09:44 AM |
Nairaland Forum / Nairaland / General / Business / Forex Trading - Season 14 (325575 Views)
Forex Trading Alerts - Season 16 / Forex Trading - Season 15 / Forex Trading - Season 13 (2) (3) (4)
(1) (2) (3) ... (217) (218) (219) (220) (221) (222) (223) ... (230) (Go Down)
Re: Forex Trading - Season 14 by fatjo(m): 1:53pm On Dec 19, 2014 |
Hi guyz,am looking to begin forex trading 1Q 2015 but I have no idea wch broker to trade with. I really need honest advice on this issue because av heard n read a lot abt brokers and their acts,scares d sh*t outa me...oh and goodjob here guyz...didatic stuff. I hope y'all keep d dice rolling |
Re: Forex Trading - Season 14 by natruetalk: 3:33pm On Dec 19, 2014 |
today trade is going to be risky one. looking to take my trade @ d rejection of yesterdy cycle |
Re: Forex Trading - Season 14 by natruetalk: 3:38pm On Dec 19, 2014 |
natruetalk: just sold oil with 100pips SL it is a risky one cos. d bull is flexn muscle and price also stay above 55.55 but i sold cos i expect d price to closed d week bearish might jump out if d seat is too hot for me
|
Re: Forex Trading - Season 14 by omejeo: 3:46pm On Dec 19, 2014 |
natruetalk:ok sir follow u |
Re: Forex Trading - Season 14 by natruetalk: 3:51pm On Dec 19, 2014 |
omejeo: just watch ur back and close d trade if u c 40pips up from here |
Re: Forex Trading - Season 14 by omejeo: 3:54pm On Dec 19, 2014 |
natruetalk:ok sir thanks |
Re: Forex Trading - Season 14 by benpuzzy(m): 4:17pm On Dec 19, 2014 |
natruetalk: Oga see as u wan put sand for my Garri
|
Re: Forex Trading - Season 14 by natruetalk: 4:33pm On Dec 19, 2014 |
natruetalk: trade closed with +30pips don't like d movement at dt 55.5x zone
|
Re: Forex Trading - Season 14 by drpips1(m): 5:04pm On Dec 19, 2014 |
Hello dear friends, it almost the end of the year, and am glad to see most traders happy because of their trading account is also smiling at them.But from my personal observation i tend to spot most Mistakes successful Traders Avoid, these are the biggest mistakes most traders make especially the newbies. If you avoid these simple mistakes as a newbie, you will find yourself among the minority successful traders in the forex market. 1. Trading with Emotions I think most traders lose money because they cant keep their emotions of trading. People usually get in a trade based off of logic but when a trade goes against them,their emotions tend to do the thinking. one thing to remember is that the market does not care that you need to pay bills or buy a brand new car, it will do what it's going to do and you cant make it do otherwise. Always define your risk, and if you lose money, just say next and move on, dont keep focusing on the last trade for revenge trading. 2. Not Having Discipline You need to have discipline if you are gonna make it as a trader. you have to be able to stick with your trading plan religiously, and not deviate one bit from it. 3. Not Having a Trade Plan If you dont have a trading plan, you are going to fail as a trader. A plan is what is going to keep you out of trouble when your emotions start doing the thinking for you. Just follow the plan no matter what. A good trading plan should consist of what to do if i'm right and what to do if i'm wrong before i get into the trade. anytime you start a new trading plan, begin on a Demo/Practice Account, and once you reach a successful level, switch your trading to a live account. 4.changing a Trade plan During Trading Changing a trading plan during trading is usually caused by fear. A plan should be based of statistics that work overall, not every trade will work out. In my early days of trading career in forex trading, after entering a trade, i would walk away from the computer after setting my stoploss and takeprofit orders, and let the trade continue, because I use to have a hard times during those period dealing with my emotions, and would lose more money because of changing a trade plan due to a seductive movement in price change.sometimes i feel this is the easiest way to make money while building your confidence in the process 5. Not having a Proper Money Management A lot of traders think it's cool to trade using 20% margin or more, this is one of the biggest mistakes traders make. Being able to live to trade another day has been my trading philosophy. successful traders risk 5% margin or less on a single trade. if you risk 20% margin on a single trade and made a loss, then you can only trade five times with that 20% margin risk, but when using a 5% margin, you will be able to trade 20 times should in case a loss should occur. 6. Not Increasing your Commitment with Success Many times while in a winning trade, you will be tempted to add additional lots to increase profits, but if the market direction should reverse right after you placed the additional trades, you will be taking a big loss when you should have been taking a profit. Staying under 5% margin risk per trade is critical, no matter what. 7. Adding to a losing trade Many traders will add to a losing position believing when it goes back up, they will make more money. what usually happen is they end up losing much more money. If you are wrong on a trade, just take the loss and wait for another trade setup with high chance of success. don't forget to always cut your losses short and let your profits run 8. Using Mental Stops in place of Stop Loss orders People tend to not use a stop due to the fear of being "stopped out", so they use a mental stop instead. Positioning your stop in the right place will allow your trade to breathe. you will lose more by not using a stop because what usually happens when using a mental stop is you tend to say "just give it more time,it will return back", but in most cases, it never does and you end up losing much more than you should 1 Like |
Re: Forex Trading - Season 14 by natruetalk: 5:15pm On Dec 19, 2014 |
natruetalk: dis thin still look sellable to me my fear is the 55.55 zone well am thinking of risking back my 30pips. |
Re: Forex Trading - Season 14 by Nobody: 5:31pm On Dec 19, 2014 |
natruetalk: Market get as e be today, me I nor dey trade today jare. |
Re: Forex Trading - Season 14 by natruetalk: 5:32pm On Dec 19, 2014 |
natruetalk: ok just re-enter my sell @ 56.08 SL 57.08 note - dis is a gut trade and am going to close the trade with 30pips loss if the move go against me from here
|
Re: Forex Trading - Season 14 by benpuzzy(m): 5:58pm On Dec 19, 2014 |
benpuzzy: What else can BENPUZZY say? Adjusted my SL to +100pips, additional position added
|
Re: Forex Trading - Season 14 by omejeo: 6:13pm On Dec 19, 2014 |
BULLS AND BEARS FIGHT WHO WILL WIN |
Re: Forex Trading - Season 14 by Nobody: 6:33pm On Dec 19, 2014 |
omejeo: For sure, pigs will be slaughtered! Till Monday for me o jare |
Re: Forex Trading - Season 14 by natruetalk: 6:33pm On Dec 19, 2014 |
natruetalk: no basis to hold dis trade beyond here trade close -28pips Shop closed 4 d week 2 Likes |
Re: Forex Trading - Season 14 by benpuzzy(m): 8:19pm On Dec 19, 2014 |
benpuzzy: Shop closed with +484pips on two positions.........."FX IS SWEET".........
|
Re: Forex Trading - Season 14 by fxbomovi: 11:27pm On Dec 19, 2014 |
To God be all the glory |
Re: Forex Trading - Season 14 by endfx1(m): 12:02am On Dec 20, 2014 |
Today 20th Dec,2014....I join to celebrate with our 1st Lady Naijababe on the occasion of her anniversary. Mum, we pray God continues to bless you and your family. You've inspired me a lot in your simple n humble ways. May you continue to shine as a light to your world. I wish you many happy anniversaries ahead. Cheers! 5 Likes |
Re: Forex Trading - Season 14 by Kirinwa: 7:20am On Dec 20, 2014 |
fatjo: Which broker did you demo trade with and for how long? |
Re: Forex Trading - Season 14 by Kirinwa: 7:29am On Dec 20, 2014 |
I placed my stoploss @ 185.40 for GJ and target is 194.00 Whatever happens its not a loss to me cos I locked in some profits with my SL. This is my last trade for the year 2014. 1 Like |
Re: Forex Trading - Season 14 by frenchman2: 8:07am On Dec 20, 2014 |
@ naijababe Happy bday. Wishing u many more years |
Re: Forex Trading - Season 14 by Nobody: 8:16am On Dec 20, 2014 |
Frenchmen and Endfx, thank you. 1 Like |
Re: Forex Trading - Season 14 by fxbomovi: 9:06am On Dec 20, 2014 |
@madam naijababe ...On this special day, i wish you all the very best, all the joy you can ever have and may you be blessed abundantly today, tomorrow and the days to come! May you have a fantastic birthday and many more to come... HAPPY BIRTHDAY!!!! |
Re: Forex Trading - Season 14 by benpuzzy(m): 9:40am On Dec 20, 2014 |
A special wish for a special person. Mama Oil, may you live long to reap the fruits of your hard labour
|
Re: Forex Trading - Season 14 by micynute94(m): 10:56am On Dec 20, 2014 |
Words can't express what I'd want to say. So......... I 'd just say Happy Anniversary . You r indeed a special being... Good having you around.... |
Re: Forex Trading - Season 14 by micynute94(m): 11:02am On Dec 20, 2014 |
naijababe: Didn't see anything about.. ur BDAY on ur profile or on FP... |
Re: Forex Trading - Season 14 by honeric01(m): 11:09am On Dec 20, 2014 |
Salutations at Naijababe, and wish you the best in your union. |
Re: Forex Trading - Season 14 by docus: 12:51pm On Dec 20, 2014 |
@Naijababe, Happy birthday!!! wish u long life & prosperity(more pips for u). am kind of happy cuz seeing a female in this biz should make us guys not to dull our self by loosing. am inspired & i believe most traders here are also inspired by you. |
Re: Forex Trading - Season 14 by jamace(m): 1:26pm On Dec 20, 2014 |
@Naijababe Ah, my AMAZON, I remain loyal o. May your days continue to be fruitful and wish you a blessed anniversary. |
Re: Forex Trading - Season 14 by Nobody: 2:39pm On Dec 20, 2014 |
OMG! Guys, it is not my birthday yet, still a few days to go but it was my 11th wedding anniversary exactly a week ago. I think endfx remembered from last year but got his dates mixed up . Either way, thank you all for your goodwill messages and kind words. I am truly in awe. May all our dreams come true 1 Like |
(1) (2) (3) ... (217) (218) (219) (220) (221) (222) (223) ... (230)
Forex Trade Alerts: Season 21 / Nigeria's Top 50 Richest Billionaires / Forex Trade Alerts Season 17
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 55 |