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Forex Trade Alerts: Season 23 - Business (1036) - Nairaland

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Re: Forex Trade Alerts: Season 23 by Kaybee7000(m): 4:43pm On Dec 29, 2023
Mystiquefia:


Bossun, dem say i open more than 5 positions during loss order o πŸ˜‚. funny enuf as pesin akant dey decrease them dey also dey decrease the lot size when person fit use from their end, i.e if your account is 10k and perhaps it drops to 9500, u wont be able to use the fixed lotsize earmarked for 10k. So if that's the case what business do they have with number of positions again, when they're actually restricting the lotsize from their end? πŸ˜‚

so no be drawdown or news again, this one na number of positions opened during loss orderπŸ˜‚



Chai if na wetin u do b this,am safe


Ha no dey open pass 2 positions once and again both positions no fit eat whole 5% of my acct as u said here,how on Earth with i be adding to loosing trades to be sincere bro?



Anyway I am trading the normal way am suppose to trade with my just 0.2 lotsize and maximum of 2 positions at once,na slow and steady

2 Likes

Re: Forex Trade Alerts: Season 23 by Mystiquefia: 4:50pm On Dec 29, 2023
Kaybee7000:




Chai if na wetin u do b this,am safe


Ha no dey open pass 2 positions once and again both positions no fit eat whole 5% of my acct as u said here,how on Earth with i be adding to loosing trades to be sincere bro?



Anyway I am trading the normal way am suppose to trade with my just 0.2 lotsize and maximum of 2 positions at once,na slow and steady

That one na just example o... read am well again. i just dey cite example say dem dey reduce lotsize by themselves, so i nor see why them go reduce positions too. i fit break ur lotsize with 2 positions, into several positions with that same lot size too

i cant remember that i added more to losing trades because my strategy is such that i only add new positions when I'm in profit
Re: Forex Trade Alerts: Season 23 by Lanshile(m): 4:54pm On Dec 29, 2023
Kaybee7000:




Chai if na wetin u do b this,am safe


Ha no dey open pass 2 positions once and again both positions no fit eat whole 5% of my acct as u said here,how on Earth with i be adding to loosing trades to be sincere bro?



Anyway I am trading the normal way am suppose to trade with my just 0.2 lotsize and maximum of 2 positions at once,na slow and steady
Na even one position at a time I dey do with 0.2 and that position no fit chop 1 percent
If I no close that one position I no go enter another one
They suppose to Disqualify any trader that breach their rules instead of waiting till he achieve the 2 phase target
The thing dey fear me

4 Likes

Re: Forex Trade Alerts: Season 23 by zedegit: 4:54pm On Dec 29, 2023
Lanshile:

I no understand u

Na only dem get the yeye rule.

2 Likes

Re: Forex Trade Alerts: Season 23 by GabsonFX2: 4:55pm On Dec 29, 2023
Should I say I completely think differently when joining prop firm. I'm very stern/firm with my decision to join. First thing first at the first hearing or seeing of their name. I

1. Check them out on instagram, less than 100K followers, I run.
2. Check their website, the first thing I look for is the chat icon, you don't have it, I ex it straight. I don't want to struggle contacting you when I need help.
3. I check if you have any ongoing promo. None? I run. In this advent of props springing up with promos and ads, a prop firm should not be left out. Also, it's a win-win for me if I get some bonus buying your account.
4. I check % profit target and % Max loss and %DD. If Max DD and %profits are thesame, I run.
5. I chat them up: Do you allow Martingale? If NO, I run
6. No weekend trade, I run
7. Is your Daily DD balance based? If NO, I run; I'm too busy to be calculating the % amount for each day so I don't breach based on equity. No time.
8. Location of head office as indicated on website, I also chat them to ask, I don't want to see India, Nigeria, Iran and the likes.
9. Do you offer % profit on challenge phase 1 and 2? If NO, I don't run, I walk out slightly looking back anticipating.

You need to realize how much prop firm I have placed on my NO-NO book.

And lot more...

You have to win the propfirm first in the mind game to guarantee winning the phases.

Fundednext stands out, they do not have hidden rules. Infact, the compliance team reached out to me that they noticed I opened and closed a position in two different geographical locations in short time, showing picture evidence with IP, asking me to explain. Failure to do, would stop my next payout. I attached my flight itinerary and all that has to do with my job, data page, passports, etc...and that was it. All solved. And each month I travel, I always send them my itinerary, never had issues.

15 Likes 5 Shares

Re: Forex Trade Alerts: Season 23 by Kaybee7000(m): 4:57pm On Dec 29, 2023
Lanshile:

Na even one position at a time I dey do with 0.2 and that position no fit chop 1 percent
If I no close that one position I no go enter another one
They suppose to Disqualify any trader that breach their rules instead of waiting till he achieve the 2 phase target
The thing dey fear me



Although waiting till u pass both phases dey questionable Sha,as I dey like this self ,ha dey fear cos what of if I pass both phases cos face this matter too? E no go funny o



Ha go too Yab dem for Twitter ha swear
Re: Forex Trade Alerts: Season 23 by Lanshile(m): 5:03pm On Dec 29, 2023
Kaybee7000:




Although waiting till u pass both phases dey questionable Sha,as I dey like this self ,ha dey fear cos what of if I pass both phases cos face this matter too? E no go funny o



Ha go too Yab dem for Twitter ha swear
E no go happen to any of us again
I will read all their rules again and stick to it though I dey observe their rules Wella but I go dey check for any update as the thing be now
Re: Forex Trade Alerts: Season 23 by Kaybee7000(m): 5:08pm On Dec 29, 2023
Lanshile:

E no go happen to any of us again
I will read all their rules again and stick to it though I dey observe their rules Wella but I go dey check for any update as the thing be now



Abeg dey update us o abeg ,dem don kuku reduce their leverage,so if lotsize is not proper, market no go kuku execute,e go rather cancel

1 Like

Re: Forex Trade Alerts: Season 23 by Mystiquefia: 5:08pm On Dec 29, 2023
Lanshile:

Na even one position at a time I dey do with 0.2 and that position no fit chop 1 percent
If I no close that one position I no go enter another one
They suppose to Disqualify any trader that breach their rules instead of waiting till he achieve the 2 phase target
The thing dey fear me

it could be that i added more positions to losing trades o, but I can't really remember because my strategy is such that i only add new positions to WINNING TRADES. i don't add to losing trades

Now assuming i added more positions to losing trades, i usually don't use say 0.10 lotsize whole in a single position, i'd usually use 0.01 and i can only double it to 0.02 when I'm in profits, which means my bias is confirming, after which i can now add a 0.04 lotsize. So there's a way i guage it, i just dont add up positions especially to losing trades.
Re: Forex Trade Alerts: Season 23 by Mystiquefia: 5:12pm On Dec 29, 2023
Kaybee7000:




Abeg dey update us o abeg ,dem don kuku reduce their leverage,so if lotsize is not proper, market no go kuku execute,e go rather cancel

this is what i was trying to explain. Their leverage even further reduces as the prop account reduces.. i.e their leverage for a 10k account is different from when it reduces to 9500 for instance.
So if u dey reduce lotsize decreasingly, wetin kom concern u with positions again.
i guess i didn't read up all their rules pellucidly too
Re: Forex Trade Alerts: Season 23 by Lanshile(m): 5:15pm On Dec 29, 2023
Mystiquefia:


it could be that i added more positions to losing trades o, but the I can't really remember because my strategy is such that i only add new positions to WINNING TRADES. i don't add to losing trades

Now assuming i added more positions to losing trades, i usually don't use say 0.10 lotsize whole in a single position, i'd usually use 0.01 and i can only double it to 0.02 when I'm in profits, which means my bias is confirming, after which i can now add a 0.04 lotsize. So there's a way i guage it, i just dont add up positions especially to losing trades.
Brother appeal this judgement
If you appeal they will be able to give you a lenghty explanation of the breach from their own side and it will also help we guys who have an account with them cos even of they want to cheat u dey will still provide an evidence from ur trade history and we go use what they want to use against u to safeguard our own account
Dont just give up like that appeal the judgement make we see wetin Dem talk

2 Likes 1 Share

Re: Forex Trade Alerts: Season 23 by dmahn(m): 5:27pm On Dec 29, 2023
PraiseGod4u:


The most important question is
Why are you closing manually?
Fear of price reversing or what?

Or u are watching price too frequently, you are now seeing what isn't there.

Maybe price has formed a very strong resistant few pips to TP and efforts to break it has result into multiple rejections. Isn't it Greed if TP is @ $67 and the strong rejection happens at $60 and one is still holding on to the trade sire?
Re: Forex Trade Alerts: Season 23 by dmahn(m): 5:32pm On Dec 29, 2023
EmmanuelVi:

Please unlearn it ASAP, it's absolute disregard of your laid down trading rules which are meant to protect you (from yourself actually), so you don't do things like what you're considering now.
I know that feeling, where the market messes with your emotions a the tip of your TP trying to make you break, but stick to your guns Sir, believe me it pays off eventually.
(Later I would upload the chart of a GBPNZD short trade I recently traded as well as USDCAD shorts earlier; if I had snoozed, I would have lost a ton lot of profits).

Thanks for your input always cheif.. Sometimes I regret closing early and sometimes I regret not closing in time.. But most of the times the market flys to my TP after stopping mysef out grin

3 Likes 1 Share

Re: Forex Trade Alerts: Season 23 by dmahn(m): 5:35pm On Dec 29, 2023
Davigle:


Sometimes price doesn't move straight to our tp or sl, you need to have contingencies prepared for such scenarios

Yes my man... Its even most of the times.. Trading is 10% buy, 10% sell and 80% waiting

4 Likes

Re: Forex Trade Alerts: Season 23 by dmahn(m): 5:37pm On Dec 29, 2023
Lanshile:

Brother appeal this judgement
If you appeal they will be able to give you a lenghty explanation of the breach from their own side and it will also help we guys who have an account with them cos even of they want to cheat u dey will still provide an evidence from ur trade history and we go use what they want to use against u to safeguard our own account
Dont just give up like that appeal the judgement make we see wetin Dem talk

2nded. We need a detailed explanation. It's either you are wrong or they are devil

1 Like

Re: Forex Trade Alerts: Season 23 by Davigle(m): 5:38pm On Dec 29, 2023
Ope ooo, US30 to the rescue, stops moved to BE as it's in floating profit of 150 points, all losses on GU and UJ incurred today have sort of been cleared. l may close shop by 6pm

3 Likes

Re: Forex Trade Alerts: Season 23 by Elliotwaveforec: 5:43pm On Dec 29, 2023
Elliotwaveforec:
Shorting Us30 37800 SL 37870 TP 37120
Closed!

1 Like

Re: Forex Trade Alerts: Season 23 by dmahn(m): 5:43pm On Dec 29, 2023
GabsonFX2:
Should I say I completely think differently when joining prop firm. I'm very stern/firm with my decision to join. First thing first at the first hearing or seeing of their name. I

1. Check them out on instagram, less than 100K followers, I run.
2. Check their website, the first thing I look for is the chat icon, you don't have it, I ex it straight. I don't want to struggle contacting you when I need help.
3. I check if you have any ongoing promo. None? I run. In this advent of props springing up with promos and ads, a prop firm should not be left out. Also, it's a win-win for me if I get some bonus buying your account.
4. I check % profit target and % Max loss and %DD. If Max DD and %profits are thesame, I run.
5. I chat them up: Do you allow Martingale? If NO, I run
6. No weekend trade, I run
7. Is your Daily DD balance based? If NO, I run; I'm too busy to be calculating the % amount for each day so I don't breach based on equity. No time.
8. Location of head office as indicated on website, I also chat them to ask, I don't want to see India, Nigeria, Iran and the likes.
9. Do you offer % profit on challenge phase 1 and 2? If NO, I don't run, I walk out slightly looking back anticipating.

You need to realize how much prop firm I have placed on my NO-NO book.

And lot more...

You have to win the propfirm first in the mind game to guarantee winning the phases.

Fundednext stands out, they do not have hidden rules. Infact, the compliance team reached out to me that they noticed I opened and closed a position in two different geographical locations in short time, showing picture evidence with IP, asking me to explain. Failure to do, would stop my next payout. I attached my flight itinerary and all that has to do with my job, data page, passports, etc...and that was it. All solved. And each month I travel, I always send them my itinerary, never had issues.

Valid cool.
Re: Forex Trade Alerts: Season 23 by wuyexzy01: 6:10pm On Dec 29, 2023
dmahn:
I used to think that after Entry, it's either Stop loss or Take profit

I learnt something new today on IG. 3 things are involved after entry and not just 2. The third one is Manual exit

Manual exit basically is an exception to the rules of TP or SL... You don't want to get trapped in a long range when price is just few pips away from your TP.... Or I need to unlearn what I just learnt?
Oga dmahn... this thing na only u fit answer ahm.
And my response will be that you work it out your self. There are days of the week where you just have to take what the market offers. Some Monday when you are in nice profit just take it and scram. Whatever the market does shouldn't be your problem abi concern. Else market fit just turn you to dwoman. On a Friday especially the last one for the month market do bonanza for you and you saw signs of reversal abi retracement you dey try wait it out? I won't tell you wetin go sup! Issues of waiting for T.p or S.L and shifting S.L will always be debatable.
In all I think the biggest take away is that once you are profitable you can flex on the market as u like just know your RISK.
I'll share a screenshot of EUR/CAD I took. I committed all the forex textbook crime. I shifted my S.L, when I saw my account will likely get blown(my flipping account) I added more funds to contain the price movement. i also didn't wait for my T.P to get kissed. If I did I wouldn't have liked it. That doesn't mean price won't hit my T.p whereas I can always hop in again. Today is just not the day to wait it out.
First picture few pips to my T.p.
Second picture retracement.
Third picture my withdrawal
4th picture flex

1 Like

Re: Forex Trade Alerts: Season 23 by PraiseGod4u(m): 6:16pm On Dec 29, 2023
dmahn:


Maybe price has formed a very strong resistant few pips to TP and efforts to break it has result into multiple rejections. Isn't it Greed if TP is @ $67 and the strong rejection happens at $60 and one is still holding on to the trade sire?

Sure u can close manually..

But the moment u get used to it, then sorry it'll affect your profitability in the long run

1 Like

Re: Forex Trade Alerts: Season 23 by richgen(m): 6:39pm On Dec 29, 2023
Compliments of the season to you all my FTA family.

Much love.

I greet you all! cool

4 Likes

Re: Forex Trade Alerts: Season 23 by dmahn(m): 7:18pm On Dec 29, 2023
wuyexzy01:

Oga dmahn... this thing na only u fit answer ahm.
And my response will be that you work it out your self. There are days of the week where you just have to take what the market offers. Some Monday when you are in nice profit just take it and scram. Whatever the market does shouldn't be your problem abi concern. Else market fit just turn you to dwoman. On a Friday especially the last one for the month market do bonanza for you and you saw signs of reversal abi retracement you dey try wait it out? I won't tell you wetin go sup! Issues of waiting for T.p or S.L and shifting S.L will always be debatable.
In all I think the biggest take away is that once you are profitable you can flex on the market as u like just know your RISK.
I'll share a screenshot of EUR/CAD I took. I committed all the forex textbook crime. I shifted my S.L, when I saw my account will likely get blown(my flipping account) I added more funds to contain the price movement. i also didn't wait for my T.P to get kissed. If I did I wouldn't have liked it. That doesn't mean price won't hit my T.p whereas I can always hop in again. Today is just not the day to wait it out.
First picture few pips to my T.p.
Second picture retracement.
Third picture my withdrawal
4th picture flex

Thanks for your input boss...Nice trade on EURCAD..
Re: Forex Trade Alerts: Season 23 by PraiseGod4u(m): 7:59pm On Dec 29, 2023
OfficialP:


Spot on boss.

Long time. Happy holidays to you and your family

Thanks boss

Compliments of the season
Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 8:06pm On Dec 29, 2023
realone12:
calm down, slow down.. but true true GU is one of the most difficult pair to trade.

the pair is very intentional in trying to fool traders.. I stopped trading it when I realized how manipulative it could be.
Not understanding something thoroughly is one thing, it is yet another for it to be manipulated.
"It isn't what you don't know that gets you into trouble. It's what you know for sure that just ain't so" --Mark Twain
The Market isn't fighting you!
Re: Forex Trade Alerts: Season 23 by OfficialP: 8:11pm On Dec 29, 2023
Whatva way to end the year 5k MYFF account won via Twitter giveaway. Thank you God

Pls is their DD balance or equity based?

9 Likes 2 Shares

Re: Forex Trade Alerts: Season 23 by Mystiquefia: 8:11pm On Dec 29, 2023
Lanshile:

Brother appeal this judgement
If you appeal they will be able to give you a lenghty explanation of the breach from their own side and it will also help we guys who have an account with them cos even of they want to cheat u dey will still provide an evidence from ur trade history and we go use what they want to use against u to safeguard our own account
Dont just give up like that appeal the judgement make we see wetin Dem talk

i will bro

1 Like

Re: Forex Trade Alerts: Season 23 by smilinguy: 8:28pm On Dec 29, 2023
I noticed that many people that tried to pay yesterday have open invoices in their 5ers Tradehub. If you are in that category you can still get the 20k account

Login into the trade hub

Click on the three lines beside your name to show the various menus

Click on invoices

If you have pending invoices, click on the green box under actions to pay with your card

You get your account

4 Likes

Re: Forex Trade Alerts: Season 23 by smilinguy: 8:30pm On Dec 29, 2023
smilinguy:
I noticed that many people that tried to pay yesterday have open invoices in their 5ers Tradehub. If you are in that category you can still get the 20k account

Login into the trade hub

Click on the three lines beside your name to show the various menus

Click on invoices

If you have pending invoices, click on the green box under actions to pay with your card

You get your account

The above should work for those that tried to use their Nigerian cards to pay yesterday
Re: Forex Trade Alerts: Season 23 by Elliotwaveforec: 8:32pm On Dec 29, 2023
Elliotwaveforec:
Short Gold 2061 SL 2089 TP 2010
Buying now SL 2058

1 Like

Re: Forex Trade Alerts: Season 23 by Petah(m): 8:46pm On Dec 29, 2023
OfficialP:
Whatva way to end the year 5k MYFF account won via Twitter giveaway. Thank you God

Pls is their DD balance or equity based?
congratulations chief. I don't have answer to the question. But if I were you I would build my plan around the idea that it is equity based.
Nice one chief.
Re: Forex Trade Alerts: Season 23 by Donsheddy: 8:51pm On Dec 29, 2023
The5ers account details received finally

5 Likes

Re: Forex Trade Alerts: Season 23 by DXYY: 9:03pm On Dec 29, 2023
PraiseGod4u:


Sure u can close manually..

But the moment u get used to it, then sorry it'll affect your profitability in the long run

Boss been a while compliment of the season

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