Last trade set-up for this week

Gold sellstop @ 1685
Stoploss @ 1690
Target 1665

Aluspecialty:
Let me explain what I understand.

I was on 22.0% and on position 1 and stopped trading since 4days ago, while he managed to climb above me to 22.20%, he came here jubilating and decided to stop trading. I had to resume trading immediately and went above him to 23.8%, that right there placed him on 2nd position; although, I anticipated that he would continue to trade. .

While I watched closer, I found out he resumed trading but aggressively and was disqualified after 2hrs as he went above the 20% DD rule. What I deduce is that greed (in the form of lot size) got him disqualified.

Exactly. But I am amazed with how folks are having such huge DD despite the 1:25 low leverage. In the next month contest. I am most likely going to disallow non currency pairs.
We all should understand that aside the prize money, am offering some funds to be managed and high DD will not be encouraging nor allow me to let you trade the account with such DD.
Make we calm down. Slow and steady only will help in the long term.
Folks in the past did it with all level of optimism and miss it. Lets not repeat the same mistakes. What I have observed also is that reds has a way of toying with ones emotion. Let me add more and this one will wipe that one and account is gone.

infofirst:


Exactly. But I am amazed with how folks are having such huge DD despite the 1:25 low leverage. In the next month contest. I am most likely going to disallow non currency pairs.
We all should understand that aside the prize money, am offering some funds to be managed and high DD will not be encouraging nor allow me to let you trade the account with such DD.
Make we calm down. Slow and steady only will help in the long term.
Folks in the past did it with all level of optimism and miss it. Lets not repeat the same mistakes. What I have observed also is that reds has a way of toying with ones emotion. Let me add more and this one will wipe that one and account is gone.

I have this question to ask all this while but I just want to be sure before I ask... With 1.25 leverage what's the minimum lot size one can use?

haryodehjia:


I have this question to ask all this while but I just want to be sure before I ask... With 1.25 leverage what's the minimum lot size one can use?

0.01 And maximum can be as much as your funds can take.

It is not easy when one is not getting it. When you get it. It is easy and boring.
[/quote]


Exactly why being a noob sucks because you spend a lot of time trying to understand what is going on

infofirst:


0.01 And maximum can be as much as your funds can take.

Thank u sir... The truth is I can't go beyond 0.2 lots while trading..
I knw what am saying especially when u are in long position then u get that kind of bearish candle that will pass the size of one screen
Especially gold

First week :

Ended positive

infofirst:
Top 3 going into 1st weekend

@Aluspeciality $15
@Terrafx $10
@don_sheddy $5

@Terrafx risk management was the best of the 3 so far. Mr Sniper Trader. Keep it up . Meanwhile, Its just starting as the swing traders are still coming to give a run.

Dm to claim the prize.

Thank You

Thanks for the kind gesture.

.

infofirst:


He took a high risk trade and gbam.

I guess over confidence or over excitement. He initially took small lot of same pair and won only to take big lot and gbom

I'm sorry for my non-chalancy and promised to do better...

One thing with me tho is once I aim at getting something done I almost always get it done...

I had the aim of top spot and once I got it I actually purposely used a 0.10 to drop out of the contest it wasn't as if I didn't know what I was doing..

My win rate was 10/13 trades...

I had quite a lot to do plus trading alcs under me for NFP today which was a big success with DXY coming up for boys

My apologies to my boss @infofirst and all others...

I promise to remain loyal to the market, may the pips be with all of us...

Fxwarrior:
Last trade set-up for this week

Gold sellstop @ 1685
Stoploss @ 1690
Target 1665

Order Deleted.

dennison4luv:




Happy birthday bro wullnp

God bless man!

Possible trade idea for next week

If price gets to 1710 by next week, there's a possibility it would reach 1745 before likely reversing to test the 1685 region or continuing further uptrend if 1760 is broken.

Happy weekend.

Kaesyrn:


Thank God for another year, another month, another day...

Thanks to this FTA family I started out here 2018 on a low as a guest no comments...

Shout out goes to

Cc

@dathypebruv for dragging me out here...

@pipsbasketings

@teemy

@xautrader

@infofirst

@peteregwu

@voraz

@drillion

@meshpips

@prosperotradings

@tobitimi

@wallstreetfx

@mesmer



OMA I nor fit call all my Oga names dem finish...

God bless you all...



@haryodehjia I acknowledge you too

God bless you man!

infofirst:


0.01 And maximum can be as much as your funds can take.

Thanks for improving my trade style, I want to be among the best 5 in this competition and God will surely help

infofirst:
Top 3 going into 1st weekend

@Aluspeciality $15
@Terrafx $10
@don_sheddy $5

@Terrafx risk management was the best of the 3 so far. Mr Sniper Trader. Keep it up . Meanwhile, Its just starting as the swing traders are still coming to give a run.

Dm to claim the prize.

Thank You

This competition has thought me a lot & it's one of the best contest ever conducted for members of FTA to the extent of pulling out our silent followers to become active members. Ones again a big thank you to boss @infofirst. We have all seen that greed, inconsistency indescipline and inpatience are some of the biggest problems we have here. This contest has proved ones again that trading is more like that of a marathon race rather than Sprint. It is how you finish that matters most and not occupying the top positions for a while

There are 2 points to watch for gold next week.

1710 and 1690

Technically and fundamentally, gold should sell next week, thus if it breaks 1690, we are likely seeing 1660.

Nevertheless should it decide to do a further correction to the upside and breaks 1710 strongly, then 1740 is in view.

Either way, fingers crossed.

Gold continued to be pressured by rising DXY as well as rising yield within the week but should be due for a bounce. The lower BB shows price is over stretched and the mid line is at the resistance zone. Friday candle closed spinning top and the 1Hr looks like a double bottom with rejections off the thursday low. I am more interested in how price will behave if it reaches the resistance zone.

I want to correct my analysis I dropped some days ago for Gold..
After much observation n analysis In my opinion the support level of fib38%(1680) might not be able to hold. So there's every tendency that we might see gold push down to fib61.8% which is a strong support level also at ema 200(1500). after much observation of the ema of 20,50 and 200. It shows that gold is going for huge down trend going through the 4htf, dtf shows that candle is below the ribbon(20,50 and 200). While for the Wtf gold will be finding support at fib61.8% which corresponds to 200ema..

haryodehjia:
I want to correct my analysis I dropped some days ago for Gold..
After much observation n analysis In my opinion the support level of fib38%(1680) might not be able to hold. So there's every tendency that we might see gold push down to fib61.8% which is a strong support level also at ema 200(1500). after much observation of the ema of 20,50 and 200. It shows that gold is going for huge down trend going through the 4htf, dtf shows that candle is below the ribbon(20,50 and 200). While for the Wtf gold will be finding support at fib61.8% which corresponds to 200ema..

Might also be a coorective flag pattern looking at ur weekly chart...

So anything is possible...

Waiting to react

CADJPy

First confluence: Price is above 50 Ma. We are in a strong uptrend I just want to be looking for buy no sell
2nd confluence: I want price to retrace back to that blue box pointed with arrow for a long nextweek.

Gold: If we can see a retracement back to that blue box. I wanna sell that pair

@infofirst, can i still join the competition, just seeing it as i haven't been on this thread in months.

Don't miss next week trading opportunities see it here:
https://www.youtube.com/watch?v=NR9UkCPN5no

XAUTrader4L:
Gold continued to be pressured by rising DXY as well as rising yield within the week but should be due for a bounce. The lower BB shows price is over stretched and the mid line is at the resistance zone. Friday candle closed spinning top and the 1Hr looks like a double bottom with rejections off the thursday low. I am more interested in how price will behave if it reaches the resistance zone.

Falling wedge also it seems.

Bolutumiii:
@infofirst, can i still join the competition, just seeing it as i haven't been on this thread in months.

Nope. Until Next contest.

Thank you

infofirst:


Nope. Until Next contest.

Thank you

Appreciate the response, when is the commencement date?? Ist of April??

Quote of the week

Trading is the only business where bad start can be counted as a blessing. Successful trading journey is not about how well you started. It's all about how well you end up.

My anticipation on EN

My anticipation on AU