Gasive:


Maximum leverage allowed is 1:30, Must be an active member of FTA thread. 1st, 2nd and 3rd position will get $50, $30, $20 . Close all position at contest close and auto sync.
All instruments allowed except crypto . No use of pin to secure trades.

I'm still wondering how some people are able to trade indices with 1:30 leverage.

GabsonFX:
This is not a topic I like to discuss on, and I don't take side on this type of topic. The reason why there are different timeframes to trade from is the reason why we have different trading styles: scalpers, day traders, swing traders and position traders.
How do we say position traders are better than scalpers and vice versa. Have you seen position traders making 3,000pips on just a single trade from W1 TF; alternatively, have you seen some dangerous but respected scalpers that make $$$ equivalent to the 3,000pips which took position traders months to achieve, but they achieve this in just 5mins? I believe Tony142.

Someone mentioned probability: we are still generalizing. Cos my questions will be: for probability to be determined, there has to be reliable data sampling and analysis. Who has the data? Where is the data sampling? How did we now conclude the higher TF is better than lower TF or vice versa?

I'm not in support or against any of the motions, do whatever works for you, it does not mean it will work for others. I'm a swing trader and trade only on D1 ONLY because that's what fits my busy schedule.

Finally, avoid generalizing....the forex market is dynamic....

there is no generalization in my post.. am only buttressing the guy post of irrelevance of tf in itself....we mostly support a particular tf as a refrence point individually according to our psychological temperament and strategy strenght but not on a raw data analysis, "fractal Market Analysis by Edgar Peters" alluded to this fact perfectly with his chaos theory to investment and economics..if you reread my post, you will find nowhere i support a particular way of trading but a general abstract of it..

GabsonFX:
I read again your stance and Tony142's stance and realized we are saying same thing. None of you mentioned that higher TF is better than lower TF or vice versa....Kudos.
We are saying same thing, there are scalpers that make great money in just 5mins per day, and there are long term traders that make great money in 2months single trade.
I'm a swing trader and trade only on D1 TF, sometimes I post charts from H1 just to show viewers some levels. This is only because it helps me to filter noise and big news which you get from lower TFs (this used to be my belief); however, anytime bigger news become obvious on my D1 TF, mhen, one candle sometimes produce 350.0pips (good or bad), ofcourse, no one wants to experience the bad. Or when I experience ranging market on D1, na consecutive big losses be that.

It's too specific to say higher TF is better than lower TF without any data analysis....

exaclty bros..its only a trader with medium knowledge that will be championing one tf over the other, with enough experience we have come to realized that trading is a complete way of life where your strategy is a function of your individuality and our individuality is shaped by our temperament,psychology,IQs, and plethora of other functions...

for example i cant use multitimeframes to trade..if i take a trade on 1hr tf, i manage it and exist it on 1hr independent of all other tfs same for other tfs..i have come to realized that my brain cant handle the confussions coming from other tfs..

Theyoungmaster:


I'm still wondering how some people are able to trade indices with 1:30 leverage.

The contract specification of indices CFD's completely differs from that of currency.

That 1:30 is equals to 1:300 in currency market.

Also depending on the broker, some brokers have different contract specs for each of the individual indices traded in relation to their margin requirements & leverage.

Unlike in currency CFDs which is the same in any broker just little differences in their spread, commission...

Indices gives fast money but can also be very dangerous i.e DE30

ILovebigyansh:


The contract specification of indices CFD's completely differs from that of currency.

That 1:30 is equals to 1:300 in currency market.

Also depending on the broker, some brokers have different contract specs for each of the individual indices traded in relation to their margin requirements & leverage.

Unlike in currency CFDs which is the same in any broker just little differences in their spread, commission...

Indices gives fast money but can also be very dangerous i.e DE30

I asked cos i tried opening a position on US30 yesterday, was told insufficient funds. Maybe it has to do with different brokers having different contract requirements as you rightly pointed out.

ILovebigyansh:


The contract specification of indices CFD's completely differs from that of currency.

That 1:30 is equals to 1:300 in currency market.

Also depending on the broker, some brokers have different contract specs for each of the individual indices traded in relation to their margin requirements & leverage.

Unlike in currency CFDs which is the same in any broker just little differences in their spread, commission...

Indices gives fast money but can also be very dangerous i.e DE30

I tried US30, the profit was coming in fast; suddenly, it reversed and kicked me out of the competition. 5 minutes TF would be appropriate for the instrument

New lessons learnt in the week. As I expected of GJ, she didn't fall just yet. She had a massive bullish candle at the close of last week so I expected creation of liquidity first before proceeding. My TA 101 requires that I don't jump in front of a moving train(entering immediately after the close of a solid bullish candle) or catch a falling knife (entering immediately after the close of a solid bearish candle).

My 1hr and 4hr tfs have a head and shoulders formation, maybe a break on Monday would be the green light we need.

Elliotwaveforec:


I tried US30, the profit was coming in fast; suddenly, it reversed and kicked me out of the competition. 5 minutes TF would be appropriate for the instrument

indices are very profitable but you need to master your entry and exit points

Theyoungmaster:


I'm still wondering how some people are able to trade indices with 1:30 leverage.

it depends on the broker

XAUTrader4L:
We now have a daily close above the trendline, waiting for a weekly close above it next. I expect a swing high soon with a shallow retrace of a couple of days and continue higher. Alternatively gold can still keep going up till it reaches the highest resistance zone and then the retrace. I started mentioning about a possible trend change in march and here we are, am just sad i missed a much earlier entry due to my poor analysis(have learnt my lesson), luckily it gave me another entry.

The same week we had a daily close above TL is the same week we have a weekly close above the TL and resistance zone. All bullish signs, though now there are daily candles with small bodies so I expect a bit of retracement then I will be more comfortable. Also sentiment is saying retail traders keep adding sells so it's a good thing for the bulls.

Wow we really have good traders here oo.

hegelian:


there is no generalization in my post.. am only buttressing the guy post of irrelevance of tf in itself....we mostly support a particular tf as a refrence point individually according to our psychological temperament and strategy strenght but not on a raw data analysis, "fractal Market Analysis by Edgar Peters" alluded to this fact perfectly with his chaos theory to investment and economics..if you reread my post, you will find nowhere i support a particular way of trading but a general abstract of it..

You made a really fantastic point boss, I’ll appreciate it if you can explain what you mean by strategy strength sir...

Kaesyrn:
I just went through the competition page and I kind off feel distraught

Cc.
@Infofirst

I sent you the password with my alt mail please address

Secondly I thought we all agreed on trading just currency pairs for the contest....

But on scrolling through I found out that majority of traders in the contest have been trading metals and indices which we agreed weren't going to be inclusive in the contest...

Not to brag aside from GBP pairs one other aspect of trading I'm equally good at analysing and trading are metals , indices and equally Crypto...

Please let it be clarified going forward if contest participants are allowed to trade the forementioned pairs make I know whether to murder am

Shout-out to...

Cc.

@Donsheddyguru

@Jospido

@jbinary

@Drillion been long boss,abeg still dey share setups for here we know say you be chairman...

how do you check the pair someone is trading?

Hello! Profitable traders.. Happy weekend!

Qpetz:
Sorcery.

Hello Qpetz , I have been trying to reach you through PM for sometime. Please can I email you sometimes if you drop your email ? I'd like to discuss ( mutual benefit to us )

Thanks.

Qpetz:
Sorcery.

Or send me a mail here (..... )

Congrats to the winners

ItzProspero:
Congrats to the winners

Its interesting. Is it the chase to catch up with that number one that led to many disqualification? Wow.

infofirst:


Its interesting. Is it the chase to catch up with that number one that led to many disqualification? Wow.

It's interesting
What you did was just pure evil though.
You increased leverage & reduced DD.

infofirst:


Its interesting. Is it the chase to catch up with that number one that led to many disqualification? Wow.

I quite agree with thesis.

ILovebigyansh:


It's interesting
What you did was just pure evil though.
You increased leverage & reduced DD.

The twist is necessary to alter stuffs. That way all contestants can figure out the weakness of their style.

ItzProspero:
Congrats to the winners

Contest has not ended yet.

NetValueFX:

The twist is necessary to alter stuffs. That way all contestants can figure out the weakness of their style.

Definitely,
It's hilarious still.

He increased trading power fhen reduced loss limit.

This tests the risk management strength of all players involved.

ILovebigyansh:


Definitely,
It's hilarious still.

He increased trading power fhen reduced loss limit.

This tests the risk management strength of all players involved.

Yeah.

Akinnraland:

Sorry for the late response. Check your mail.

XAUTrader4L:



Yea but technically there was already a sign on the chart that something like this was coming. The news was just the catalyst that helped the move further.

Exactly...even if there is a manipulation by the market makers as there usually is, there will be a technical heads-up on the chart, you just need to know what to look for and find.

Theyoungmaster:


I'm still wondering how some people are able to trade indices with 1:30 leverage.

...highly risky in this competition because of equity, margin and drawdown requirements...

ILovebigyansh:


It's interesting
What you did was just pure evil though.
You increased leverage & reduced DD.

@infofirst is really trying hard to make us gentle, optimal, less risk-taking, profitably sustainable traders, but, some of us no dey hear word oooh...werey like coconut shell, waiting for the next gbas gbos for pips/profit...

infofirst:


Its interesting. Is it the chase to catch up with that number one that led to many disqualification? Wow.

I don't see it that way boss.

I believe all the rules are essentially for our good in the long term.

I personally have been distracted since the crypto bull run. But am returning better in the next contest.

I appreciate your good work boss. I wish more people can support you in this

klinksd:


@infofirst is really trying hard to make us gentle, optimal, less risk-taking, profitably sustainable traders, but, some of us no dey hear word oooh...werey like coconut shell, waiting for the next gbas gbos for pips/profit...

Which one be werey? you dey talk like tout

infofirst:


Its interesting. Is it the chase to catch up with that number one that led to many disqualification? Wow.

Nice one infofirst. This was my first competition ever and I am learning alot. Thanks for the opportunity