bigbasho:

@wami, you cannot get the best for free, even in America there is no free lunch na. You cannot learn much here bro. A lot of controversy that can piss you off.

wamiikechukwu:


@bolded very true

The reason i lost last year was because of stop loss

Pipsbasketing:
Bro, are you ready, let us go practical. I want to pull out a chart history, post about two pictures and ask for your opinion on the likely direction, I will state mine too. Then I will post the outcome from this history.

This is not to prove a better decision making and has nothing to do with the outcome accuracy but on the note that SL is necessary to protect an entire account from strong news and not the single trade.

Kindly let me know if I should start

bigbasho:


If he trades 1min and u trade weekly chart, do you think it will correspond? He might see a short sell and make something out of that and u might be riding a long trend and still make it. you can post the charts.

Pipsbasketing:
Controversies are bound to happen at every point in our lives, it is not limited to forex business on FTA. But if at all one wants to limit the controversies to the forex business, it is not limited to FTA, controversies exist on Whatsapp groups, FF, FBook groups and what have you. I had Whatsapp forex group and controversies existed and what I could device was to remove everyone from the group and closed it down. Some colleagues on the group introduced a telegram channel to me, such that no one can come with his or her controversies and now I enjoy peace.

How you interpret controversy and apply to your way of life is what makes the distinctions and in decision making. As for me, after about 8years of my knowledge of FOREX, I once stated here that FOREX is not real, controversies began and that got me seated again and again to work on myself and devise my ideology of trade.

In general, controversies are bound to happen everywhere in life and not only on FTA, we are opinionated beings and everyone is entitled to speech freedom, hence everyone wants to be heard. So if anyone wants to learn, he/she should not avoid controversies.

Selah

bigbasho:


I want to mention @Daniel058 before the controversy stuff. He is the novice traded and I have to advise him he really cannot learn much here.

bigbasho:


Sent

bigbasho:


I want to mention @Daniel058 before the controversy stuff. He is the novice traded and I have to advise him he really cannot learn much here.

Pipsbasketing:
TF is not a factor in the analyses we are about to make, infact, I am not going to show the TF of what I want to post. Only the decision is what we need this time.

omejeo:
plsdo send to poampearl@gmail.com

bigbasho:


Done

Pipsbasketing:
First

1. See the video I posted
2. Now determine that point in a market trend where you know outrightly that you are wrong if markets get there.
3. Place your stop there
4. The fact is that, in life, we are often wrong and we tend to try our best, same here in the fx business, we are often wrong because we are not the ones determining the price direction, yes we are often wrong, that is why we try to pick the best. What happens to your account when the wrong time comes with no stoploss?



Now to practical:
The picture below shows a trend that is just forming for a sell, please tell me where you would think that the sell position becomes wrong when price hits the point.

bigbasho:


Sell forming or already sold. Lets zoom it down to a lower TF sir. Say 1hr. Aggressively I would have sold at 1.7717 as price hits the daily Res. and if I want to be conservative at 0.7730 as price obeys the 1hr Res. While you are waiting for probably a bearish candle on daily TF. I would have gotten in at that indecision candle you see on daily. Even if it doesnot continue bearish am out with some decent pips.

Pipsbasketing:
I once mentioned that the analysis is independent on TF as I could have taken the picture without showing the TF, what is needed here is answer to the exact question. I could as well go to your H1 without showing what TF it is and bring up the picture. Again, what is required is answer to the exact question. Now that you have avoided the question, I realize I may be going off the exact discussion point, hence I am off this convers.

Regards

Forex2020247:
House i will be selling USDCAD at opening price
what do u think guys.
there is 200 MA at daily TF dat acting like a support
lets hear your opinion

Forex2020247:
House i will be selling USDCAD at opening price
what do u think guys.
there is 200 MA at daily TF dat acting like a support
lets hear your opinion

Pipsbasketing:
I see a buy but waiting for 2 or 3 more candles to confirm it.
Reason:
I am a strictly swing trader.

Forex2020247:



daily TF you watching from bro??

Pipsbasketing:
yes sir

Forex2020247:


ok reason for bear bias
broken the TL and has tested it
200 MA still a big hurdle to pass, rejection has occur their before.

olasubomi007:
I'm looking to start forex trading..

Anybody to tutor me step by step?

bigbasho:

Sent

bigbasho:

Sent

mrikay:
morning and happy new week... Anyone interested in selling nzdusd?