Birikiti: Looking to buy Gold when price dips to 1310 with a SL at 1304 and TP at 1315.

If I happen to be online when the upward surge takes place then I might move the TP to 1318 before I run comot.

Happy trading all.

Update!!

My buy limit adjusted to 1305; SL at 1298 and TP at 1310.

Na wa o, 97.60 don turn to concrete on oil , level touched 4 times this week

Birikiti:

Update!!

My buy limit adjusted to 1305; SL at 1298 and TP at 1310.

But if 1305 breaks, it's likely to take your SL and still move back up to 1310.. just saying...

pls am dying in silent here and if i do not share it here may do something terrible. i funded my acct with a borrowed fund and since then i have not made any tin meaningful. my plan was to double it quickly and return d capital asap little did i know e no easy like dat cos d 5k target need to be achieved.

My worst moment now is i entered a sell on gold @ d very top at 1317.26 and closed at 1316.39 with lot 1.5$ a pip and i earned 12$ only for gold to drop 1308.x shortly denying me $135 what kind of life is dis? i just feel like quitting forex. d drawdown was just 2.6 pips. dis is making d 4th times am experiencing dis. yesterday it happened on GU where i exited a 1 pip sell to 110 pips dat could have earned me 110$ profits. my total balance now 212$ from $261 capital. just because of FEAR FEAR. Advice me on what to do cos 215$ of dis fund not mine. am planning now using 3$ per pips in d next trade. can't allow fear keep controlling me. my trading strategy rocks but d fear of borrowed fund killing me slowly. if d broker had allowed me used dat my 70$, fear would have not been an issue

constructive advice only not judgemental, insults frustrating comments

^^ ^^

@Tom

Greed, Unstable emotion (indecision) and fear..

These are your inner profit hunters.. involve yourself in something totally different from forex trading for maybe 6 months and in the process, learn to manage these 3 things.

With these 3 traits, you can't become anything in forex.

My small advice.

Shalom!

tom29reloaded: pls am dying in silent here and if i do not share it here may do something terrible. i funded my acct with a borrowed fund and since then i have not made any tin meaningful. my plan was to double it quickly and return d capital asap little did i know e no easy like dat cos d 5k target need to be achieved.

My worst moment now is i entered a sell on gold @ d very top at 1317.26 and closed at 1316.39 with lot 1.5$ a pip and i earned 12$ only for gold to drop 1308.x shortly denying me $135 what kind of life is dis? i just feel like quitting forex. d drawdown was just 2.6 pips. dis is making d 4th times am experiencing dis. yesterday it happened on GU where i exited a 1 pip sell to 110 pips dat could have earned me 110$ profits. my total balance now 212$ from $261 capital. just because of FEAR FEAR. Advice me on what to do cos 215$ of dis fund not mine. am planning now using 3$ per pips in d next trade. can't allow fear keep controlling me. my trading strategy rocks but d fear of borrowed fund killing me slowly. if d broker had allowed me used dat my 70$, fear would have not been an issue

constructive advice only not judgemental, insults frustrating comments

If you trust your system,then trade what you can afford to loose without hurting your account(equity management),set your sl and tp and allow the market to prove you wrong.

I suffered a 103pip drawdown on my present gold trade,but I am still hanging on

SL hit on Gold...........hmm

thanks for ur comments i think i will not quit but i will also quit cos d time to refund d capital is few days away and if i do not make it 300 na to quit be dat.

i also observed my heart beating very fast when i use some lots except 0.05. it all boils down to fear.

TOM
Out!

tom29reloaded: pls am dying in silent here and if i do not share it here may do something terrible. i funded my acct with a borrowed fund and since then i have not made any tin meaningful. my plan was to double it quickly and return d capital asap little did i know e no easy like dat cos d 5k target need to be achieved.

My worst moment now is i entered a sell on gold @ d very top at 1317.26 and closed at 1316.39 with lot 1.5$ a pip and i earned 12$ only for gold to drop 1308.x shortly denying me $135 what kind of life is dis? i just feel like quitting forex. d drawdown was just 2.6 pips. dis is making d 4th times am experiencing dis. yesterday it happened on GU where i exited a 1 pip sell to 110 pips dat could have earned me 110$ profits. my total balance now 212$ from $261 capital. just because of FEAR FEAR. Advice me on what to do cos 215$ of dis fund not mine. am planning now using 3$ per pips in d next trade. can't allow fear keep controlling me. my trading strategy rocks but d fear of borrowed fund killing me slowly. if d broker had allowed me used dat my 70$, fear would have not been an issue

constructive advice only not judgemental, insults frustrating comments

Hello Tom, this is my first time of contributing here, is not always advisable to trade FX with borrowed money,because trading is a business of probability, read books on psychology of trading and reduce your lot size.

Birikiti:

Update!!

My buy limit adjusted to 1305; SL at 1298 and TP at 1310.

See my life? Over cautiousness made me miss out on the daily 50 pips.

Anyway, capital preservation is the 1st key to success in forex trading. I no chop them, they no chop me!

There will be another opportunity!

Birikiti:


See my life? Over cautiousness made me miss out on the daily 50 pips.

Anyway, capital preservation is the 1st key to success in forex trading. I no chop them, they no chop me!

There will be another opportunity!

Birikiti:


See my life? Over cautiousness made me miss out on the daily 50 pips.

Anyway, capital preservation is the 1st key to success in forex trading. I no chop them, they no chop me!

There will be another opportunity!

Na so

tom29reloaded: pls am dying in silent here and if i do not share it here may do something terrible. i funded my acct with a borrowed fund and since then i have not made any tin meaningful. my plan was to double it quickly and return d capital asap little did i know e no easy like dat cos d 5k target need to be achieved.

My worst moment now is i entered a sell on gold @ d very top at 1317.26 and closed at 1316.39 with lot 1.5$ a pip and i earned 12$ only for gold to drop 1308.x shortly denying me $135 what kind of life is dis? i just feel like quitting forex. d drawdown was just 2.6 pips. dis is making d 4th times am experiencing dis. yesterday it happened on GU where i exited a 1 pip sell to 110 pips dat could have earned me 110$ profits. my total balance now 212$ from $261 capital. just because of FEAR FEAR. Advice me on what to do cos 215$ of dis fund not mine. am planning now using 3$ per pips in d next trade. can't allow fear keep controlling me. my trading strategy rocks but d fear of borrowed fund killing me slowly. if d broker had allowed me used dat my 70$, fear would have not been an issue

constructive advice only not judgemental, insults frustrating comments

you will get over it bro, its part of the learning curve. my only prayer is that you have the nerve through the storm

keep your head high and u will be there in no time and as for the money, for get it you cant die if anything happen to it (you will survive trust me)

what a wonderful thread!...I need to contribute my quota asap!

tom29reloaded: pls am dying in silent here and if i do not share it here may do something terrible. i funded my acct with a borrowed fund and since then i have not made any tin meaningful. my plan was to double it quickly and return d capital asap little did i know e no easy like dat cos d 5k target need to be achieved.

My worst moment now is i entered a sell on gold @ d very top at 1317.26 and closed at 1316.39 with lot 1.5$ a pip and i earned 12$ only for gold to drop 1308.x shortly denying me $135 what kind of life is dis? i just feel like quitting forex. d drawdown was just 2.6 pips. dis is making d 4th times am experiencing dis. yesterday it happened on GU where i exited a 1 pip sell to 110 pips dat could have earned me 110$ profits. my total balance now 212$ from $261 capital. just because of FEAR FEAR. Advice me on what to do cos 215$ of dis fund not mine. am planning now using 3$ per pips in d next trade. can't allow fear keep controlling me. my trading strategy rocks but d fear of borrowed fund killing me slowly. if d broker had allowed me used dat my 70$, fear would have not been an issue

constructive advice only not judgemental, insults frustrating comments

My advice to you:

With $261 capital, your lot size shouldn't be more than $0.20 a pip. Better still use $0.1 a pip with a maximum of 2 open positions at any point in time.

Also, change your mindset of instant wealth in forex; that's what makes traders increase lot sizes arbitrarily and risk more than they should risk. See it as a marathon race instead. Making $20-$30 per month on this $261 account will give you $500-$620 total capital after 12 months. This is not a bad idea at all considering banks will give you just 15-20% per annum interest on fixed deposits. With this mindset, you will apply your "potent trading system" and increase capital tremendously over time.

Lastly, find something else to do that will take your mind away from the charts once you've entered your trade. Scalpers find this difficult but if you must succeed as a trader and live to enjoy your success, then you must manage the flow of adrenalin that comes with watching your live money go up and down on the charts.

The above is my personal opinion suited to my temperament; I acknowledge that others might have systems that work very well but are not the same as mine.

Take care

tom29reloaded: pls am dying in silent here and if i do not share it here may do something terrible. i funded my acct with a borrowed fund and since then i have not made any tin meaningful. my plan was to double it quickly and return d capital asap little did i know e no easy like dat cos d 5k target need to be achieved.

My worst moment now is i entered a sell on gold @ d very top at 1317.26 and closed at 1316.39 with lot 1.5$ a pip and i earned 12$ only for gold to drop 1308.x shortly denying me $135 what kind of life is dis? i just feel like quitting forex. d drawdown was just 2.6 pips. dis is making d 4th times am experiencing dis. yesterday it happened on GU where i exited a 1 pip sell to 110 pips dat could have earned me 110$ profits. my total balance now 212$ from $261 capital. just because of FEAR FEAR. Advice me on what to do cos 215$ of dis fund not mine. am planning now using 3$ per pips in d next trade. can't allow fear keep controlling me. my trading strategy rocks but d fear of borrowed fund killing me slowly. if d broker had allowed me used dat my 70$, fear would have not been an issue

constructive advice only not judgemental, insults frustrating comments

Mr Tom, sorry about your loss. This is my third time commenting in FTA section. Mr Tom i will advice that you stop trading now as quick as you can, because you will definitely loss the rest of your money, let the truth be told. I have been in this business since 2008 and i know what i am talking about i have made money and lost close to $20k and i have learnt my lesson. I can tell from the look of things that you don't have a written trading business plan. You have a strategy, but what you are doing with the strategy is gambling (''my plan was to double it quickly and return d capital asap'').

My brother if you had a plan, you would have made room for bad trades. Trading is a business and you should treat it like one. There will be times when you make money and times when you lose money in any business. According to Van Tharp ''Markets do not create victims; investors turn themselves into victims. Each trader controls his or her own destiny. No trader will find success without understanding this important principle at least subconsciously''.

Mr Tom, i think you are trading with greed (the fear that comes from lacking) which result in fear that leads to failure. for your own good stop now. Go back and study more. learn about trading psychology and how to write a trading plan. Read books by Van K. Tharp, jack Schwagger,
Trading to Win (THE PSYCHOLOGY OF MASTERING THE MARKETS) by Ari Kiev. you can download seminars by Van Tharp on Google.

If you want any of this books, you can send me a mail or go back to past FTA seasons and search for them. Wisdom is profitable to direct God bless you.

@Tom
You need to go back to d drawing board, work on ur emotion, be discipline, you cant get rich quick here n so understand this and begin to see fx as a business and not casino, dont quit and wen u feel like quittin just remeber d very reason y you started in d first instance and take to d advice given so far.

alentino1:

Mr Tom, sorry about your loss. This is my third time commenting in FTA section. Mr Tom i will advice that you stop trading now as quick as you can, because you will definitely loss the rest of your money, let the truth be told. I have been in this business since 2008 and i know what i am talking about i have made money and lost close to $20k and i have learnt my lesson. I can tell from the look of things that you don't have a written trading business plan. You have a strategy, but what you are doing with the strategy is gambling (''my plan was to double it quickly and return d capital asap''). My brother if you had a plan, you would have made room for bad trades. Trading is a business and you should treat it like one. There will be times when you make money and times when you lose money in any business.
according to Van Tharp ''Markets do not create victims; investors turn themselves into victims. Each trader controls his or her own destiny. No trader will find success without understanding this important principle at least subconsciously''.
My brother you are trading with greed (the fear that comes from lacking) which result in fear that leads to failure. for your own good stop now. go back and study more. learn about trading psychology and how to write a trading plan. Read books by Van K. Tharp, jack Schwagger,
Trading to Win (THE PSYCHOLOGY OF MASTERING THE MARKETS) by Ari Kiev. you can download seminars by Van Tharp on Google.
If you want any of this books, you can send me a mail or go back to past FTA seasons and search for them. Wisdom is profitable to direct God bless you.

Thank u bro. you have said it all

....and my advice for tom29 is to trade less volatile pair. see what happen to gold after d post, that is what you should be expecting on gold from time to time no matter what sure strategy you have except you plan for larger SL.

tom29reloaded: pls am dying in silent here and if i do not share it here may do something terrible. i funded my acct with a borrowed fund and since then i have not made any tin meaningful. my plan was to double it quickly and return d capital asap little did i know e no easy like dat cos d 5k target need to be achieved.

My worst moment now is i entered a sell on gold @ d very top at 1317.26 and closed at 1316.39 with lot 1.5$ a pip and i earn

ed 12$ only for gold to drop 1308.x shortly denying me $135 what kind of life is dis? i just feel like quitting forex. d drawdown was just 2.6 pips. dis is making d 4th times am experiencing dis. yesterday it happened on GU where i exited a 1 pip sell to 110 pips dat could have earned me 110$ profits. my total balance now 212$ from $261 capital. just because of FEAR FEAR. Advice me on what to do cos 215$ of dis fund not mine. am planning now using 3$ per pips in d next trade. can't allow fear keep controlling me. my trading strategy rocks but d fear of borrowed fund killing me slowly. if d broker had allowed me used dat my 70$, fear would have not been an issue

constructive advice only not judgemental
, insults frustrating comments

I cant help but I gats to LOOL. You just started forex obviously. You go learn.

tom29reloaded: pls am dying in silent here and if i do not share it here may do something terrible. i funded my acct with a borrowed fund and since then i have not made any tin meaningful. my plan was to double it quickly and return d capital asap little did i know e no easy like dat cos d 5k target need to be achieved.

My worst moment now is i entered a sell on gold @ d very top at 1317.26 and closed at 1316.39 with lot 1.5$ a pip and i earned 12$ only for gold to drop 1308.x shortly denying me $135 what kind of life is dis? i just feel like quitting forex. d drawdown was just 2.6 pips. dis is making d 4th times am experiencing dis. yesterday it happened on GU where i exited a 1 pip sell to 110 pips dat could have earned me 110$ profits. my total balance now 212$ from $261 capital. just because of FEAR FEAR. Advice me on what to do cos 215$ of dis fund not mine. am planning now using 3$ per pips in d next trade. can't allow fear keep controlling me. my trading strategy rocks but d fear of borrowed fund killing me slowly. if d broker had allowed me used dat my 70$, fear would have not been an issue

constructive advice only not judgemental, insults frustrating comments

I used to be like this. I can only advise you to be confident with your trade strategy. Once you set SL and TP, let the market do its thing. You will lose more money if the 'fear factor' is still. Stop trading with your emotions. Trust your instincts fot once. And hey bro, its not always nice to watch your trade. Study price actions instead.

Goodness gracious me! I am out of that oil buy. After holding for almost a week, abeg, i dey waka jo!

naijababe: Goodness gracious me! I am out of that oil buy. After holding for almost a week, abeg, i dey waka jo!

Thank God i exited when I did

tom29reloaded: pls am dying in silent here and if i do not share it here may do something terrible. i funded my acct with a borrowed fund and since then i have not made any tin meaningful. my plan was to double it quickly and return d capital asap little did i know e no easy like dat cos d 5k target need to be achieved.

My worst moment now is i entered a sell on gold @ d very top at 1317.26 and closed at 1316.39 with lot 1.5$ a pip and i earned 12$ only for gold to drop 1308.x shortly denying me $135 what kind of life is dis? i just feel like quitting forex. d drawdown was just 2.6 pips. dis is making d 4th times am experiencing dis. yesterday it happened on GU where i exited a 1 pip sell to 110 pips dat could have earned me 110$ profits. my total balance now 212$ from $261 capital. just because of FEAR FEAR. Advice me on what to do cos 215$ of dis fund not mine. am planning now using 3$ per pips in d next trade. can't allow fear keep controlling me. my trading strategy rocks but d fear of borrowed fund killing me slowly. if d broker had allowed me used dat my 70$, fear would have not been an issue

constructive advice only not judgemental, insults frustrating comments

no go cause H.B.P 4 urself in d name of trying 2 get rich quick in forex,my hand no dey oo

naijababe:

Thank God i exited when I did

thin like this happen especially during this period of contract change over.

i closed my added lot with +40pips

still on with the first entry looking to close at the close of 4hrs hop thinz will not worse than it is now

natruetalk:

thin like this happen especially during this period of contract change over.

i closed my added lot with +40pips

still on with the first entry looking to close at the close of 4hrs hop thinz will not worse than it is now

This where a sw1nger can suffer, could have closed this morning too, but no matter, another time go come

naijababe: Goodness gracious me! I am out of that oil buy. After holding for almost a week, abeg, i dey waka jo!

No b small tin

natruetalk:

thin like this happen especially during this period of contract change over.

i closed my added lot with +40pips

still on with the first entry looking to close at the close of 4hrs hop thinz will not worse than it is now

wc broker is urs dat v sharply changed d contract

naijababe:

This where a Player can suffer, could have closed this morning too, but no matter, another time go come

one thin that still keep me on dis game is i have a good support @ 96.20 & 95.90 yet to be broken on Sept. contact though i trade Oct. contract but both move same way.

Seems we have a reversal on GBP.

Tom giving you advise is not aan issue. The problem is if you will listen. You are trading gold which you may not be too familiar and using big lot which brings fear. If you can tackle that problem I outlined you should do well.

dis place is really cool encouraging comments so far.
now d fear done serious to d extent to open any trade na fear.

am just praying for one high probability setup to take trade. once d acct hit 292$ or 300$ JEEZ i will be d most happiest cos i wouldn't be scared to take 77$ or 85$ to promise land using 0.05 lots first targeting between 5 to 12 pips per trade (scalping). i have 3 working days left 4rm tomorrow to Tuesday next week. Eyes on GU again. saw a clear signal from d bottom 1.6657/60 today but i was handicapped by d spirit of fear cos i do not want this balance drawdown by 1 cent. Only 77 or 85$ is needed to bring back my stability and confidence to hit dat 5k dis year. i will never source for fund again. dis ATM will give me d desired capital by God's grace.

my agro biz / others requires very huge capital no bank will give me hence am trying to raise it myself 4rm them via forex even if its just two years but i must start now.

TOM
out

Getting ready to sell DJIA and Dax 30