infofirst:

Stoo loss can not safe you in such situation....those r the mad days in trading.....If spike can take accounts into negatives....so what is stop loss in such situation....there r even times that take profit or stop loss will fail to trigger when the volatility is damn high....my last eu trade experienced this.ᆞi got extra 27 pips as tp did not trigger n it happened with xm broker oh

Forex trading is 90% money management, right state of mind & instinct and good capitalization

HOW?

If we have a 1000$ acct, the appropriate lot size is fixed 0.01 microlots.

$10,000 = 0.1

$100,000 = 1.0 (10 minilots)

Using the above, a 10,000 pips stop loss needs to be triggered to lose ur entire money. This is d secrets of d so called cowboys & wall street snippers.

The opposite of dis my personal findings after reading psychological trading books sent by Naijababe is what kills 95% traders who are mostly retailers.

Now d question is how long will u trade 0.01 lots to breakeven? Dis is where we need to pray not to fall into d days of forex terrors/ammaggedon hours like d last CHF sunami if we are to expose 2-3% of our equity against the fixed lotsizes A trader with a $1000 account would have lost 15-20% of his equity assuming d pair dropped 1500-2000 pips instead of being wiped out into negative balance.

BIG LOT SIZE is what makes forex attractive. Remove it, volatility & participants will drop. Spike will disappear cos nobody with a $10,000 will think ever putting his money in forex when there are far better businesses you can do with 100% returns quarterly or 6 months or yearly or bi-yearly. PEACE!

Time to short GJ and DJIA again

Sell limit set up on DJIA @ 17860, 40 pips stop and GJ at 17805 @ 50 pips stops. 200 pips tp each

naijababe:
£ crosses go hear am tomorrow.

They r complying now

infofirst:

Stoo loss can not safe you in such situation....those r the mad days in trading.....If spike can take accounts into negatives....so what is stop loss in such situation....there r even times that take profit or stop loss will fail to trigger when the volatility is damn high....my last eu trade experienced this.ᆞi got extra 27 pips as tp did not trigger n it happened with xm broker oh

hmm ok. I get your point sire.

infofirst:


They r complying now

Yes indeed!

Pls, Which fx brokers can I use naija bank issued master/visa card 2 fund nd withdraw. Thanks.

timtrader:
Pls, Which fx brokers can I use naija bank issued master/visa card 2 fund nd withdraw. Thanks.

pepperstone

DJIA just ran away from me. It's moved 60 pips away from my limit order. This is why I don't like using orders

mutik1977:


pepperstone

Thank u, am checkin it out.

You can join the good timers in Forex here http://www.forextime.com/?partner_id=4900129 .

timtrader:
Pls, Which fx brokers can I use naija bank issued master/visa card 2 fund nd withdraw. Thanks.

hi folks
just went short on eurnzd at 1.4501
will manually close trade on friday

PRICE IS KING. FOLLOW IT WHEREVER IT GOES

naijababe:


An improvement on your mindset, at least you are now taking some responsibility, still a lot of work for you to do, Godspeed bro

Thanks

frenchman2:
bonjour a tous.

just place a buy stop order on nzdjpy at 90.00
it may not be triggered today cos trade taken based on weekly chart.
let's see how it plays out.

NB: Nothing is guaranteed. Price could just do the opposite and rubbish my analysis.

PRICE IS KING. FOLLOW IT WHEREVER IT GOES

Trade didn't trigger. just cancelled it.
we move on

frenchman2:
Sold gbpnzd at 2.0113

NB: Nothing is guaranteed. Price could just do the opposite and rubbish my analysis.

PRICE IS KING. FOLLOW IT WHEREVER IT GOES

trade placed on monday. just moved sl to BE

sold euraud at 1.3939
will manually close trade on friday

PRICE IS KING. FOLLOW IT WHEREVER IT GOES

natruetalk:


have sold EU base on below d yellow zone. watching 2day's high to close d trade if it goes back up

still on dis Eu of yesterday. still watching to see UC reaction @ my eyeing zone to trade, i close d UC trade yesterday to ease my capital for other trades taken.

GU is nearing dangerous zone

I am going to retry getting in on DJIA at 17820, with sl at 17900, 80 pips sl I know but today is FOMC, there are usually all kinds of spikes. But that order wey no fill pain me sha

mutik1977:


Forex trading is 90% money management, right state of mind & instinct and good capitalization

HOW?

If we have a 1000$ acct, the appropriate lot size is fixed 0.01 microlots.

$10,000 = 0.1

$100,000 = 1.0 (10 minilots)

Using the above, a 10,000 pips stop loss needs to be triggered to lose ur entire money. This is d secrets of d so called cowboys & wall street snippers.

The opposite of dis my personal findings after reading psychological trading books sent by Naijababe is what kills 95% traders who are mostly retailers.

Now d question is how long will u trade 0.01 lots to breakeven? Dis is where we need to pray not to fall into d days of forex terrors/ammaggedon hours like d last CHF sunami if we are to expose 2-3% of our equity against the fixed lotsizes A trader with a $1000 account would have lost 15-20% of his equity assuming d pair dropped 1500-2000 pips instead of being wiped out into negative balance.

BIG LOT SIZE is what makes forex attractive. Remove it, volatility & participants will drop. Spike will disappear cos nobody with a $10,000 will think ever putting his money in forex when there are far better businesses you can do with 100% PEACE!

pls kindly giv me a few list of bussiness u can do wit 100% peace

check my post again. I was wishing d thread peace.

New trades on Eur/aud, NZD/CHF .. Hoping to recover losses made this week, check www.forexmamm..com for details
Note: Calculate the risk size you decide to take, if its 3% per trade, divide the size by the number of pips between entry to stop loss level..

Engulfing pattern/Morning star! I have closed my sell order. Will buy GJ if it closes and stays above 17800

natruetalk:


still on dis Eu of yesterday. still watching to see UC reaction @ my eyeing zone to trade, i close d UC trade yesterday to ease my capital for other trades taken.

dis zone tested again once it get breached am out 2 stay on d sideline for d next step 2 be taken on currency dis week. fingers crossed

timtrader:
Pls, Which fx brokers can I use naija bank issued master/visa card 2 fund nd withdraw. Thanks.

you can try XM

...Concerning Hedging.

'guess you're just naturally gifted at it dr pips. That it doesnt work for everyone doesnt mean its bad. As I've always said here and in other places, most of these arguements aren't exclusive. The key is - Use what works for you. Dump what doesn't.

I don't hedge anymore. Hedging ties my mind with some really annoying ropes to those open trades and shields me from objectively analysing present market action.

It doesnt work for me. But I am not the yard stick.

And yes, I miss Ogboraph :-)

Risking 30 pips on GJ buy

natruetalk:


dis zone tested again once it get breached am out 2 stay on d sideline for d next step 2 be taken on currency dis week. fingers crossed

closed Eu trade +6 pip

hmmmmmmmmmmmmm fx nawa
please which reliable broker one for news trading

mutik1977:

Forex trading is 90% money management, right state of mind & instinct and good capitalization

HOW?
If we have a 1000$ acct, the appropriate lot size is fixed 0.01 microlots.
$10,000 = 0.1
$100,000 = 1.0 (10 minilots)
Using the above, a 10,000 pips stop loss needs to be triggered to lose ur entire money. This is d secrets of d so called cowboys & wall street snippers.......

Plus their proper understanding of the market. Thumb up

naijababe:
Risking 30 pips on GJ buy

I don comot with 50 pips, FOMC will deliver better pips tomorrow and Friday