iheanyiebeneze:
am up by 300%. on forextime competition.
Who is with me?

bro i dey with you. could only get increase of 600% as at this evening. it pays to do well in the first week

jorel1:

Actually, my main worry is ... being on a positive side of market and getting stopped out because of the use of a last minute stop loss...

many traders have fallen to this belief. it kills accounts.

jore1 i read your last post to olly12's advice and i recommend you use that 2000 pip stop even if you believe it cannot be reached. i have seen too many account managers kill budding accounts with a combination of high lots and no stop loss. use it!

jamace:
Eur/Usd
Buy @ 1.08850, TP at 1.09850, SL @ 1.08500

SL hit.

Mftivi:


lol, its not an indi bro hahaha, or are you pulling my legs.

No! I m serious,I really like the analysis on your chart

olalol:

No! I m serious,I really like the analysis on your chart

Alright, I drew those lines manually.

jorel1:


Cool down, every trader fails and wins , with systematic and mechanistic optimised approach you can defeat the market.
The fact i don't trade with stop doesn't mean i don't have a mental stop..
But anyway, don't worry, i have a enough history and equity to cover - 2000 pips
Instead of your advice based on your einstein mentality, Your concern rather should be learning from me on how i trade like an investor without stoploss...
there is no law that says stops must be used, its only what the brokers encourages clients to use so they can stay in business..its not my fault if you don't have the intelligence or IQ or education to invent strategies to optimize your trading skills.so if it works for you as a new trader, use it..don't follow me

For your information i have a better trading system that i use and better places that i placed my stop losses. back to your IQ, well you don't really know who you are talking to, so next time bro, use your IQ to reply don't just talk, that's enough on IQ ISSUE.
Again, i am not a new trader and like hell you have nothing to offer me. Because i bet it my eight years still in business is nothing compare to yours that could just be starting without stop loss. Stop losses are advised to be used not because of the brokers but because of yourself, if you know what is called money management you will know where to place the right stop loss and the normal trade size( lot ) you should use.even if your equity is 50,000 i bet it you will still use proper money management. anyways i have seen a lot of people like you over the years in the business we all know what usually ends up with people betting with their equity. so please this is not a fight just a trader helping one another.

Fellow traders, lets be calm. The fx biz has no straight way of doing it. Some traders use multitude of indicators, that's their way, do not condemn them. Some use one or two indicators, that's their way. Some do not use indicators, it is their way too. I learnt some prefer robots to trade for them, that's their biz. Others apply tight SL, leave them alone. Some apply enough SL (for trades to have breathing space), that's their style. If any one does not apply SL, that's his biz and it is not something to quarrel over.

Lets try to understand ourselves because our temperaments and psychological endurance are not the same. I believe that whatever method anyone is using is based on his experience in the business.

In conclusion, follow the method that works for you. The bottomline is to grab some $$$$.

Cheers and happy weekend.

jamace:
Fellow traders, lets be calm. The fx biz has no straight way of doing it. Some traders use multitude of indicators, that's their way, do not condemn them. Some use one or two indicators, that's their way. Some do not use indicators, it is their way too. I learnt some prefer robots to trade for them, that's their biz. Others apply tight SL, leave them alone. Some apply enough SL (for trades to have breathing space), that's their style. If any one does not apply SL, that's his biz and it is not something to quarrel over.

Lets try to understand ourselves because our temperaments and psychological endurance are not the same. I believe that whatever method anyone is using is based on his experience in the business.

In conclusion, follow the method that works for you. The bottomline is to grab some $$$$.

Cheers and happy weekend.

In summary, variety is the spice of Forex.

Karlebolu:


In summary, variety is the spice of Forex.

Thanks for aptly summarising my summary.

Weekly Forex trading analysis(Technical, Fundamental and Sentimental) in progress...
There are many WAYS to get to LAGOS STATE from ABUJA NIGERIA.
Some may chose to go with AIRPLANE,
Some may chose to use Luxurious Bus(eg ABC TRANSPORT) ,
Some may chose to go with KEKE,
Some may chose to go with Motorcycle,
Some may even chose to trek(using their ten toes). After all, some people trekked from Kano to Abuja for Mr president (PMB).

ALL IN ALL , FINAL DESTINATION IS LAGOS STATE.
Either way you chose, risk abounds. Off course accident may occur.

THAT IS EXACTLY WHAT HAPPENS IN FOREX TRADING.
I Wish you all a pipsfull week ahead.
happy weekend.

iheanyiebeneze:
Weekly Forex trading analysis(Technical, Fundamental and Sentimental) in progress...
There are many WAYS to get to LAGOS STATE from ABUJA NIGERIA.
Some may chose to go with AIRPLANE,
Some may chose to use Luxurious Bus(eg ABC TRANSPORT) ,
Some may chose to go with KEKE,
Some may chose to go with Motorcycle,
Some may even chose to trek(using their ten toes). After all, some people trekked from Kano to Abuja for Mr president (PMB).

ALL IN ALL , FINAL DESTINATION IS LAGOS STATE.
Either way you chose, risk abounds. Off course accident may occur.

THAT IS EXACTLY WHAT HAPPENS IN FOREX TRADING.
I Wish you all a pipsfull week ahead.
happy weekend.

But oga sir you have not told us the Direction or destination of EURUSD, GBOUSD, GPBJPY, EURJPY, NZDUSD,,,,,, etc can you please predict any?,

All the years I have spent trading has taught me valuable lessons in life. No matter the outcome of your trade, it makes you a better person in the long run.
I have learned never to criticize or judge anyone trading. Everyone has his own unique style that works for him based on his own peculiar experiences. Some trade in a very complicated way, while others trade simply. I have learned over time to make it simple. That works perfectly for me. For some others, they have to work with a lot of indicators before they can trade.
In all, as long as you are making consistent profits overtime is what really matters.

teemy:
jore1 i read your last post to olly12's advice and i recommend you use that 2000 pip stop even if you believe it cannot be reached. i have seen too many account managers kill budding accounts with a combination of high lots and no stop loss. use it!

Hello bro, please i dont get what you mean 2000 pips stop lost

On how much account sir?

They give me a false sense of security and cost me money in the long run..the most important is knowing when to give up, when to take profit and trading off significant pivotal levels.
If black monday or 9/11 situation occurs (1/1000 chance) then I either win big or lose big.period

People are only conditioned by conventional thinking and can't think differently, that's why, brokers still have shiny days ahead.

My ogas,

As an aspiring trader, how much deposit can one start with and what volume size?

Do we have full time traders on this thread? What has been your experiences?

Response needed to make informed decision and boost morale accordingly .
Thanks

jorel1:

Cool down, every trader fails and wins , with systematic and mechanistic optimised approach you can defeat the market.
The fact i don't trade with stop doesn't mean i don't have a mental stop..
But anyway, don't worry, i have a enough history and equity to cover - 2000 pips
Instead of your advice based on your einstein mentality, Your concern rather should be learning from me on how i trade like an investor without stoploss...
there is no law that says stops must be used, its only what the brokers encourages clients to use so they can stay in business..its not my fault if you don't have the intelligence or IQ or education to invent strategies to optimize your trading skills.so if it works for you as a new trader, use it..don't follow me

I was talking with respect to the bolded. Stops are made to be used in preparation of the expected and the unexpected. 15-1-15 is a day a lot of traders and brokers would not easily forget as the swissy moved over 4000 pips up and down (not pipettes) on all its instruments within a period of just 30 mins.

Rightworld:
Hello bro, please i dont get what you mean 2000 pips stop lost

On how much account sir?

Who will join us to cut NZD Rate. Please join us to trade that guy December 9,by 9 pm
No directional approach
Don't forget two things is involved profit or loss.
Risk wat u can afford to loose

joelreg:
Who will join us to cut NZD Rate. Please join us to trade that guy December 9,by 9 pm
No directional approach
Don't forget two things is involved profit or loss.
Risk wat u can afford to loose

yea just like the event of an airplane crash case fatality which is nearly always 100% (an all or nothing scenario)

Thanks for that.
Lets look at USDJPY. 4h chat. (1,2,3, pattern indicator).
By my TRADING STRATEGY,
i will sell now @ market open@123.20 , for a first take profit @122.30 with a stop loss@123.70
Second take profit will be @122.00

Ogboraph:


But oga sir you have not told us the Direction or destination of EURUSD, GBOUSD, GPBJPY, EURJPY, NZDUSD,,,,,, etc can you please predict any?,

As long as uj is below 123.60, its sell and sell.
For your information, i don't just enter any pair, i PLAN MY TRADE AND TRADE MY PLAN.
Meanwhile, OGBORAPH is my friend.
welcome back my penpal.

sell uj now @123.20 , take profit is 70pips, rrr=1;1

acevic:
My ogas,

As an aspiring trader, how much deposit can one start with and what volume size?

Do we have full time traders on this thread? What has been your experiences?

Response needed to make informed decision and boost morale accordingly .
Thanks

A live deposit of $100 is good for a start. However do not exceed 0.1 lot size! In addition, consistency is what you need as a beginner live trader and that will help build your emotions and psychological sways associated with live trading!

I fully recommend 0.05 volume lot size for you! Though the profits may not be much, but you are building experience and confidence, which are two basic keys to successful forex trading!

Am a live trader since 2008!

Sunnycliff:


A live deposit of $100 is good for a start. However do not exceed 0.1 lot size! In addition, consistency is what you need as a beginner live trader and that will help build your emotions and psychological sways associated with live trading!

I fully recommend 0.05 volume lot size for you! Though the profits may not be much, but you are building experience and confidence, which are two basic keys to successful forex trading!

Am a live trader since 2008!

0.1 on 100$ acct? haba, he shouldnt exceed 0.03 until acct increases by 100%

Sunnycliff:


A live deposit of $100 is good for a start. However do not exceed 0.1 lot size! In addition, consistency is what you need as a beginner live trader and that will help build your emotions and psychological sways associated with live trading!

I fully recommend 0.05 volume lot size for you! Though the profits may not be much, but you are building experience and confidence, which are two basic keys to successful forex trading!

Am a live trader since 2008!

Thank you so much for your timely response. Much appreciated.

Owliver:
0.1 on 100$ acct? haba, he shouldnt exceed 0.03 until acct increases by 100%

I'm sure he meant 0.1 micro lot, which will have him loss or gain 1 per cent of his capital with a 100pip stop loss or take profit.

Karlebolu:


I'm sure he meant 0.1 micro lot, which will have him loss or gain 1 per cent of his capital with a 100pip stop loss or take profit.

how can you be sure? he didnt mention that

iheanyiebeneze:
Weekly Forex trading analysis(Technical, Fundamental and Sentimental) in progress...
There are many WAYS to get to LAGOS STATE from ABUJA NIGERIA.
Some may chose to go with AIRPLANE,
Some may chose to use Luxurious Bus(eg ABC TRANSPORT) ,
Some may chose to go with KEKE,
Some may chose to go with Motorcycle,
Some may even chose to trek(using their ten toes). After all, some people trekked from Kano to Abuja for Mr president (PMB).

ALL IN ALL , FINAL DESTINATION IS LAGOS STATE.
Either way you chose, risk abounds. Off course accident may occur.

THAT IS EXACTLY WHAT HAPPENS IN FOREX TRADING.
I Wish you all a pipsfull week ahead.
happy weekend.

The dynamism of the financial market...Nice analogy iheanyiebeneze.
Wishing the house a pipful week!

Owliver:
how can you be sure? he didnt mention that

0.1 standard lot on $100 capital, a - 80 pip will margin call him.

Which is why I strongly believe it's a 0.1 micro lot.


But on the other hand, a +100pip will have him double his account.

Which is why I'm not really sure.

Karlebolu:



0.1 standard lot on $100 capital, a - 80 pip will margin call him.

Which is why I strongly believe it's a 0.1 micro lot.


But on the other hand, a +100pip will have him double his account.

Which is why I'm not really sure.

yh i agree with you but... in a micro acct there's nothing lower than 0.1 and notice hr said dont exceed. so he was referring to 1$ per pip. lol thats suicide

Owliver:
0.1 on 100$ acct? haba, he shouldnt exceed 0.03 until acct increases by 100%

in fact he should use 0.01 that is my best advice max should be 0.02 until he now knows how to calculate good entry and stop loss with take profit levels please