ZN2:
Which broker do you plan to use for this?

Rudboi1:
Following this GRP on nairaland nd wats app has really help to improve my trading skills. For a newbies this is d place to be

kisscivic:
I most say a big thank you for the insightful teaching on news trading last Friday. I look forward to learn more from you, as I strive to be a better trader.
I hope to contribute my on quota some day.

sonwa116:
thank u fxcraft for the news trading tutorial on friday last, Infact it was an eye-opener n I learnt something new, u did a very good job n I pray for more grace thanks once again may The Almighty God richly bless u

oohrhiifx:


Thank you for your response.

Now in reply to what you wrote here. Stop loss is the singular and most important tool in the financial market trading, Yes Your Stop loss POINT note the bolded may not be guaranteed when gaps occur in markets and that's beacause when gaps occurs price points are skipped which may include your specified point, but you can be rest assured that the position will be closed immediately at the next available price point. So please correct the above sentence STOP loss is a guaranty tool to help you protect your portfolio. A non guaranty of your specified point during gaps which are rare is different from non functionality of a tool.

As regards your explanation regarding contemporary trading, and you having some institutional traders as friends, I would kindly suggest you speak with them again and get your facts right, No trader.. I repeat no professional trader would expose his portfolio and invest in an instrument on a particular position without taking into considerations the risks involved, your no stop loss advocacy actually proves how non challant you are regarding portfolios. How can you expose a portfolio into the market without proper risk management strategy in place. I see that you referred to your friends managing a million dollars without using stop loss, but hedging the trades, do you also consider how much they trade with per transaction, do you consider the percentage exposure it is to the total account? Ever heard of what is called JENSEN INDEX , TREYNOR INDEX, VALUE RISK MODEL, or MPT? All these are approaches that are being used in measuring the performance of a portfolio and they all include putting the risk management approach as the most important factor, It's risk to reward ratio and how well the portfolio manager has performed. I will suggest you talk to them again bro. Here you are having a 200$ account hoping to get it to 1 million according to you and without stop loss or any risk management strategy in place. What happens if the market goes against you suddenly? What if the same Gap you spoke about happens, and the trade goes against you say 100 pips can you explain how you intend to manage that? You would hedge the trade, with how much ? The same lot size?What if it just keeps going? Remember this is FX not equity or bonds, the price might not come back to your entry point in the next 3 years or more, What about your broker leverage? Margin call point, Unless you are trading with the DD brokers that offers unreasonable leverages which would help you ruin your account anyway, no NDD STP/ECN brokerage company would ever offer you more than 1:500 and even at that, you cannot survive the market without risk management strategy.NO one can and NO portfolio can, even martingale trading strategy which involves unlimited account balance cannot survive it. Google these thins bro.

You said STOP LOSS is a scam by brokers, hearing this singular sentence from you shows how not so experienced you are in the financial markets( no insult intended), you possibly belong to the class of those that believe that their stop loss points is a target for their brokers or the market. If truly bro you understand that stop loss point are comprehensive analytical points which is supposed to render your current trading perspective null when it hits then you would understand how important STOP LOSS is in financial trading success. It is the only tool that helps you to manage and control your risk and losses in these highly volatile, highly leveraged financial market. No one should invest without putting risk into considerations.

As I said I wish you all the best In Your quest, but I am very sure , this thread would be inactive in a matter of weeks, a month max. But then I hope you prove me wrong.

Just in case you're wondering who I am you can check my profile on forexfactory , including an 8 month live account result with live streaming. http://www.forexfactory.com/oohrhiifx#acct.12. Cos every body calls themselves professional traders these days. Quoting years out of nothing.

Best Regards.

teemy:



Nice, I inputed values into my calculator and got projected values for your system on how I would have used it if I was to create your result. It would take exactly 90 months to make a million. Reverse engineering using the formular a*r^n for compounding interest,

estimating 10% (using lover value) monthly returns

a=196 starting balance
r=1.1 as the new month would have a balance or 1-1 times the previous month's balance
n=90 number of months.

a*r^n = 196*1.1^90 = 1,041,352

Also your pip target would be at 100 pips stop loss

2060 pips monthly or 103 pips dailyat .5% risk or
1030 pips monthly or 51.5 pips daily at 1% risk or
515 pips monthly or 25.75 pips daily at 2% risk

90 months 7.5yrs, target (1,136,376) could be reached in 62 months (5yrs + 2months) at 15% montly ROI.

Very feasible! All the best dear. I'll keep watching

georgesylva:


Wow! How'd you do that? Sir pls can you put me on any of your groups. My number is 08024664372