12ema's Posts
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 Politics › Re: CNN False Reporting About Nigeria Again (photos) by 12ema: 4:54pm On Jan 14, 2015 |
Cwhyte:Maybe they know something you don't. |
| Celebrities › Re: Eniola Badmus Shows Off Her Massive Hip At Obafemi Martin's Beach Party (PHOTO) by 12ema: 7:48am On Jan 13, 2015 |
Eminiballer:
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| Celebrities › Re: Ini Edo Shows Off Her New G Wagon (Photo) by 12ema: 7:45am On Jan 13, 2015 |
[quote author=ikecheff post=29733627][/quote]You'all need to stop this crap.
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| Politics › Re: Tolu Ebun: Meet Nigeria’s Most Beautiful Political Aspirant by 12ema: 12:02am On Jan 13, 2015 |
Unbelievable.
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| Celebrities › Re: Omotola's Husband Shaves His Beard For Work (Photos) by 12ema: 12:01am On Jan 13, 2015 |
Rubbish
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| Business › Re: Forex Trading - Season 15 by 12ema: 8:27pm On Jan 12, 2015 |
FOR THE NEWBIES: I don't want to bore you with an elaborate definition of martingale, but the simple meaning of martingale is the more you lose on a trade, the more you bet on the next trade. Or, if you are in a losing position, you keep adding to your position hoping price will turn around in your favor. While conventional forex money management says the more you lose the less you bet on the next trade and ultimately cutting your losses short. It is a strategy gamblers in vegas consistently use when playing blackjack, roulette etc. 'nuff said. 2 Likes |
| Business › Re: Forex Trading - Season 15 by 12ema: 5:36am On Jan 12, 2015 |
Sirkay78:You mean guess. |
| Jokes Etc › Re: Funny But True Nigeria Facts! by 12ema: 10:47pm On Jan 11, 2015 |
Dammielog:Someone please tell me the OP made that up. |
| Business › Re: Forex Trading - Season 15 by 12ema: 8:49pm On Jan 11, 2015 |
fxbomovi:Not necessarily. It all depends on the strategy he's using. If he's a trend follower and price is in whip saw mode then it's perfectly understandable. |
| Business › Re: Forex Trading - Season 15 by 12ema: 8:24pm On Jan 11, 2015 |
EmmanuelD1st:Hello. It is good you are taking your money management very seriously. If i may ask what is the win percentage and the profit potential of the strategy you use? Did you back test it and for how long? 13 trades and a drawdown of 7.6% seems a lot unless you are trend following. You might wanna drop your risk to 1%. Also, as per your observation about the guy using 8% risk, well, he wasn't really using 8%. The true impact on his account was around 4% if you factor in his contract size, starting balance and win/losses. Back in the day i hadn't perfected the math on the sheet. My intent was to have a visual representation of win and lose percentage. Once you gain more experience and are more comfortable with your strategy you can play around with numbers to achieve unbelievable results, hence my insistence on understanding the math of trading. Also, send me a mail so i can forward the attachment to you. Best of luck. |
| Family › Re: Is It Right For Mothers To Tongue Kiss Children (photo) by 12ema: 11:45am On Jan 11, 2015 |
sucess001:Jesus, another one. 1 Like |
| TV/Movies › Re: Why Channels TV Male Presenters Always Fold Their Sleeves?(pics) by 12ema: 9:47am On Jan 11, 2015 |
smartfellow2080:And who made you the fashion police? Another questionable topic on NL. 1 Like |
| Family › Re: Is It Right For Mothers To Tongue Kiss Children (photo) by 12ema: 9:45am On Jan 11, 2015 |
The OP must be a m.oron. I actually thought i would see and adult child french kissing his mum. NL needs to do better. |
| Jokes Etc › Re: Photo Of The Day: Why They Say Men Can’t Cook by 12ema: 9:42am On Jan 11, 2015 |
Please someone explain to me why NL is recycling stupid photos and ridiculous topics, and worse, splashing it on the front page. No wonder ads are disappearing from pages. |
| Celebrities › Re: Warri Mogul Baba T Rocked A N4.9m Suit For His Wedding (photo) by 12ema: 9:38am On Jan 11, 2015 |
brito:I think it can. Depends on the confidence of the said person. Ever heard of plastic surgery? |
| Business › Re: Forex Trading - Season 15 by 12ema: 6:20pm On Jan 10, 2015*. Modified: 6:51pm On Jan 10, 2015 |
FOR THE NEWBIES: LOSERS WHO ARE WINNERS AND WHY 90% OF THE 5% TREND TRADE. I see it all too often. A new trader paper trades for a few months, he’s amped up and is ready to take on the world. He is armed with a no fail strategy and is ready to make the world his oyster. He has been paper trading for 4 months and turned 5k on his demo account to 300k in that time, so, it should be a cake going real. Right? He funds his account and makes his first 7 trades which are all losses and his account is down 15%. At that moment he concludes that the strategy does not work, and begins the hunt for a new no-fail strategy. What most traders don’t realize is that there is nothing wrong with their strategy, but there is something wrong with their trading psychology. I have been trading profitably for 3 years and it still affects me till today. Seeing a string of losses and your emotions can run wild. You start to doubt yourself and the system and might be tempted to deviate. Don’t. My mentor is one of the coolest baddass traders I have ever met. I’ve seen where he would have like 20 trades, all losses and he would be as cool as a cucumber. Me, i'd be chewing at my finger nails. It took me a while to understand the concept. He would smile at me whenever I asked him why he was so cool when the drawdown comes. He would tell me he’s just waiting for his home run to come. “it’s bound to happen, it always does” and sure enough, he would be down 20% for 3 months of trading, and be up 50% in the blink of an eye. This concept is what newbies need to understand and master quickly. Losses are an integral part of the game. When I’m mentoring, I often throw the conventional method of coaching out the window and tell my mentees that that they should look at their drawdown period as a waiting period. You are sowing seeds that will bring bountiful returns after the rainy season. Traders who don’t know better are gathering their funds for you. Some get it, some don’t. This is why I like trend following so much. The euphoria you feel when you recover from a drawdown is, for no lack of a better description, better than getting high. I received some mails about explaining the attachments in my previous posts, to here it is. There really is not much to explain except that the first 7 trades were losses and the account was down to 3800, (how many traders can take that) and then in trades 22, the account jumped from 6k to 11k because of an 819 pip move (home run). This is what trend traders do. We wait for home runs. We don't presume to know or guess where price is going, but, they happen every time. It could be once a year or 2 to 3 a year if you are lucky. When it does, your account increases astronomically. We will take the odd 100 to 200 pips to take care of our losses until it comes. But, when it does come, ohh boy. |
| Business › Re: Forex Trading - Season 15 by 12ema: 8:07am On Jan 10, 2015 |
FOR THE NEWBIES: TRADING JOURNAL I hope the newbies survived the market this week. If you followed the money management rules I laid out in previous posts then you should be fine. I just checked the posts since last weekend and i was amazed at some of the things i read. This over emphasis on strategies is a cancer to the growth of most traders financial success. Don't get me wrong, strategies are important, but it is just a miniscule part of trading. It is same as saying that because you have a bachelors degree you will successful in life. No, there is more to it than that; your ability to relate with other people, your confidence, adaptability, presentability, and sometimes luck will depend whether you will be successful in life. Same with strategies. I can trade any strategy. It doesn't matter what it is, as long as the strategy has a proven statistical winning percentage then it can be traded for profit. In fact, the lower the winning percentage the better. This will keep you humble enough to mitigate your risks. The higher the winning percentage the more cocky you become. The only enemy to trading is time. Everybody want's profit right now that is why i never look at monthly/quarterly returns. Anyway, I digress. This is the first part of my discussion this weekend, more should follow tomorrow. I intend to talk today, about the importance of trading journals and the effect it has on your trading. Not having one is like going to school and not having a documented parameter for assessing your progress. A visual representation of your trading is as important as money management. In fact it is the bedrock of money management. You need to see how your money is performing. Checking your balance on your MT4 platform is not the same thing. You need to know how your drawdown, up/down percentage, the ramp on your graph, change in percentage of each trade, to let you know where you stand. I presume you have a bank account, and i presume you check it consistently, well it is the same thing with trading. I modified a trading journal i downloaded online and i sent it to a couple of people i was mentoring last year. One of them sent me the attachment below. Although he was very aggressive in his risks, but at least he got everything else right. This is how you should be looking at your total trading concept. Good luck 1 Like
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| Politics › Re: A Police Station In Benue State (picture) by 12ema: 1:38pm On Jan 09, 2015 |
Seriously? |
| Foreign Affairs › Re: Matthew Ajibade Dies In US Police Custody (Photo) by 12ema: 1:34pm On Jan 09, 2015 |
sunnydayasaba:Sometimes?  |
| Politics › Re: I Won’t Fight Corruption By Putting People In Crates –Jonathan by 12ema: 1:32pm On Jan 09, 2015 |
You won't fight corruption, period. |
| Business › Re: Forex Trading - Season 15 by 12ema: 7:41pm On Jan 06, 2015 |
sexaddict08:This from a sex addict. 1 Like |
| Politics › Re: An Open Letter To The Linda Ikeji Blog. by 12ema: 11:31am On Jan 06, 2015 |
SiriusBlack:Some Nigerians can be so dumb. When a Soldier puts his personal feelings on a public forum, it is no longer private and is fair game. If he had written a personal message to a friend, then yes, Linda ikeji would be wrong. Not in this case. 1 Like |
| Politics › Re: Free Meals, Allowance For Jobless Youths, N5,000 For Poor Families-Buhari Offers by 12ema: 11:21am On Jan 06, 2015 |
raumdeuter:Nigerians are so gullible. Yes there are welfare packages in NORMAL societies, but when a man is promising you something of this nature and has not explained how it would be funded then i begin to wonder. Nigerians are not even asking the right questions, they are just salivating. Americans are still licking the wounds of the fake promises given by Obama. You know what? i am going to make a promise of my own; i will give every Nigerian a million naira per month just for the phuck of it. How will i fund it you say? we'll cross that bridge when we get there. 1 Like |
| Romance › Re: Sleeping With Your Wife Or Husband Is Like Sleeping With Your Sister Or Brother by 12ema: 4:44am On Jan 05, 2015 |
OPINION:The OP of the thread is a m.oron and jobless with too much time on his/her hands; yes or no? |
| Business › Re: Forex Trading - Season 15 by 12ema: 10:23pm On Jan 04, 2015 |
naijababe:Couldn't agree more. . . . |
| Business › Re: Forex Trading - Season 15 by 12ema: 10:19pm On Jan 04, 2015 |
taiwoakin:Basically what you are saying is a trader would trade without an excel trading journal which automatically updates on it's own. why do you think i broke down the math involved? So they can create theirs. There would be no need for any calculations; just plug in your pips, win or lose and it calculates automatically for the next trade. And for the market zipping away as you say, well, trading is supposed to be boring, no rush. let it zip away. Traders are supposed to cold and calculating never in a rush to place the next trade. I like the input though, the more we argue, the more they understand and learn. |
| Business › Re: Forex Trading - Season 15 by 12ema: 7:20pm On Jan 04, 2015 |
taiwoakin:And that, bro's is the problem. The newbies need to know the why and the how. Flippantly just saying you can use or download the software online doesn't help most of them. They need the right foundation from the get go. Knee deep in the math of trading and not short cuts. Most oldies don't even know how to use one properly, or why it even exists for that matter. |
| Politics › Re: Emir Sanusi Set To Take 17-Year-Old Girl As Fourth Wife by 12ema: 3:04pm On Jan 04, 2015 |
dcaliph:potential pe.dophile in da house. . .everybody say hoo oooh.. . say yeah yeah. 2 Likes |
| Business › Re: Forex Trading - Season 15 by 12ema: 12:45pm On Jan 04, 2015*. Modified: 4:08pm On Jan 04, 2015 |
FOR THE NEWBIES: Position sizing and risk management. So, you've decided to use x percent of your account on any trade. But that alone is not enough to venture into the said trades. In order to know how much x percent is actually worth will depend on your stop loss, $ risk per lot, and pip value. Hypothetically, you have a $1000 dollar account, risking 5% with a stop loss of 60 pips. First you need to know your lot sizes, which is usually $1,000 trades or $0.1 per pip/$10,000 trades or $1.00 per pip/$100,000 trades or $10.00 per pip. Unless you intend to start trading a standard account, most accounts start of with $1000 or $0.1 trades. Next, you need to know how much you are risking per lot, and to know that you need to multiply your stop loss by your pip value, which in the case of the $1000 account with be $6.00. or 0.1 X 60. Now that we know how much we are risking per lot, we then need to know how much is the dollar value we are risking per trade based or our 5% rule. No need to breakdown the math you'all already know it's $50.00. Finally we need to know how much contract or in Mt4's case, Volume to buy on that one trade. To do this, divide your dollar risk by your risk per lot. In this case it would be; 50/$6.00 This means you can only buy .83 contract or volume. Why is understanding this concept so important? it is important because of fixed fractional position sizing. Lets say your first trade was a loss and you have 950 dollars left, your dollar risk reduces to 48 dollars on the next trade. It might not necessarily affect your volume or contract size you place on the next trade, but it will get to a point, if you keep losing, your volume or contract size will begin to reduce in order to respect your 5 percent rule. If you start winning again the reverse will occur; your volume/contract size will begin to increase. Of note is, the higher your stop loss, the lower your contract/volume size and vice versa The advantage is; you will never blow your account unless you are risking 40 percent on a system which has a 29 percent win rate. And when you win consistently, you will exponentially compound your capital in your account. In order words: when you lose, you lose small and when you win, you win big. My dear newbies, these are the things you need to know and know them quick to survive this game. Don't be like me, who spent seven out of ten years following the wrong path. Who started with fixations on charts/system/crazy returns and the "i am so special, i can beat the market" mentality. Price is not your friend. Don't even fathom the idea you know price. Control and manage your risks, your profits will come naturally on it's own. Good luck 5 Likes |
| Car Talk › Re: I Witnessed An Accident (viewers Discretion Advised) by 12ema: 6:54am On Jan 04, 2015 |
elantraceey:The right response is "oh my God", not "Eewwwwww". Do you even know the meaning? I'm just going to assume you don't know. "Eewwwww" signifies disgust. They need your sympathy not disgust. Always know the meaning of what you say and do. 1 Like |
| Christianity Etc › Re: Funny Church Posters by 12ema: 6:49am On Jan 04, 2015 |
Could've sworn they were nollywood movie posters. |
| Health › Re: Top 10 Natural Ways To Reduce Your Weight In Thirty (30) Days by 12ema: 9:43pm On Jan 03, 2015 |
I can tell you for a fact that these are the best ways to lose weight; 1. Portion your food. You can eat 20 times a day but, they have to be in very small portions. What ever portion you eat normally, break it down and complement it with fruits or yogurt. 2. Eat one or two light meals and one heavy meal in a twenty four hour period. A light meal could be an egg and yogurt in the morning, salad in the afternoon and anything heavy for dinner. 3. Never ever eat anything heavy past 8 p.m. if the urge begins after 8 p.m have a yogurt and peanut by you. if you stick to the plan and you wake up hungry, it means you lost some weight during the night. 4 Always have fruits handy. In your car or in your desk at work. An apple in your bag or purse goes a long way, so when the urge start just chomp on it. 4 Exercise. Run, run, run, run as if your life depends on it. Cardio is one of the best exercise regimen for losing weight. The most effectctive are cross fit exercises. Good luck. |
