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Forex Trade Alerts / Discussions: Season 24 - Business (202) - Nairaland

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Re: Forex Trade Alerts / Discussions: Season 24 by DXYY: 8:39am On Apr 11
Davigle:
Good morning folks, i lost my 5ers $1 account last night which boss DXYY got me in December last year. I am fully responsible for my faults and action, and I am very sad that not only did I let myself down but I also let down boss DXYY and boss infofirst. @boss DXYY, I still want to appreciate you for giving me the opportunity, it was my first prop account. I simply bleeped up because I was deeply in drawdown, and then I started pyramiding into my trades with the hope of getting out of draw down fast. simply put i wasn't disciplined in my money management. And lately I have been in a serious dilemma, getting into a trade isn't and issue for but getting out has become more of a problem for me due to greed, this has become more of a problem has lately all and I mean all my winning trades end up as losing trades and it's affecting my psych, on Tues, I had a profitable trade on US30 which went down 300 pips, I was so confident that when priced pull back I added another short position which I wanted to swing and hold up till CPI yesterday because I was sure CPI was going to come in strong when I woke up yesterday morning to check the trade not only did it reversed, it my stoploss on both trades. I am having problem setting realistic targets for trades and I think it's all becos of my greed.

@Boss gabsonfx, peteregwu, kaybee, and all other traders here, please how do you guys tackle indiscipline in your trading, pls I in all honesty need your help

The problem is not about losing accounts , as i myself have lost mine since, the question is has the account improved your trading in anyway, and if yes is the answer I say congratulations, cos the truth is, in this Journey we will have to lose more for us to be better, losing accounts responsibly and improving is paramount though , so do not overwork yourself what's gone is gone , thank GOD you were able to identify what you are doing wrong now the challenge is how to fight it.

4 Likes

Re: Forex Trade Alerts / Discussions: Season 24 by samfelly: 8:47am On Apr 11
raphemmanuel:
Boss the way you make passing prop firm evaluation stage easy, is something that needs to be studied as a course.

Congratulations Sir.

Sincerely, it needs to be studied. But, him 16 plus years in the game no be joke!
Re: Forex Trade Alerts / Discussions: Season 24 by Lanshile(m): 8:55am On Apr 11
Davigle there is no one way in trading fx
Even if all the gurus in here drop a word of advice you will still make the same mistake again if u don't do ur homewrk
You've highlighted ur problem and u have the solution
I no know what to tell u oo cos fx is now synonymous to death cos we don't know who is next to lose his account
We will continue pushing ni brother we go kukuma come out victorious one day

3 Likes 1 Share

Re: Forex Trade Alerts / Discussions: Season 24 by nzechu(m): 9:00am On Apr 11
nzechu:
u should be selling us30, Nasdaq and dax. And sell for a long time (trade plan: sell limit at test line for us30 and stay till 423)



Still an opinion though, no mind me

261% landmark. 423% in view. though a difficult trade

Re: Forex Trade Alerts / Discussions: Season 24 by samfelly: 9:08am On Apr 11
Davigle:
Good morning folks, i lost my 5ers $1 account last night which boss DXYY got me in December last year. I am fully responsible for my faults and action, and I am very sad that not only did I let myself down but I also let down boss DXYY and boss infofirst. @boss DXYY, I still want to appreciate you for giving me the opportunity, it was my first prop account. I simply bleeped up because I was deeply in drawdown, and then I started pyramiding into my trades with the hope of getting out of draw down fast. simply put i wasn't disciplined in my money management. And lately I have been in a serious dilemma, getting into a trade isn't and issue for but getting out has become more of a problem for me due to greed, this has become more of a problem has lately all and I mean all my winning trades end up as losing trades and it's affecting my psych, on Tues, I had a profitable trade on US30 which went down 300 pips, I was so confident that when priced pull back I added another short position which I wanted to swing and hold up till CPI yesterday because I was sure CPI was going to come in strong when I woke up yesterday morning to check the trade not only did it reversed, it my stoploss on both trades. I am having problem setting realistic targets for trades and I think it's all becos of my greed.

@Boss gabsonfx, peteregwu, kaybee, and all other traders here, please how do you guys tackle indiscipline in your trading, pls I in all honesty need your help

No reason am too much, chief. Remember that my Plan C (quote below)? Yes, that account, I don lost am.
Geovanni412 and @everyone, take note, pls
According to DXYY, let the lost account improve your learning curves.

We all know our problems, but our problem no know us. So, lets introduce ourselve to our problem and let it also get scared 😱, knowing us (walai, I no even know where this quote come from grin)
#Sherubaa problem e

samfelly:
Plan A, failed

Plan B, failed

Plan C, activated. Won a 5k Deifunded account giveaway. The beautiful thing is, it's MT5 platform's account and not DXTrash 😀 (mimicking @Jameselias). A big shout out to Deifunded, guys

3 Likes

Re: Forex Trade Alerts / Discussions: Season 24 by peteregwu(m): 9:17am On Apr 11
Davigle:
Good morning folks, i lost my 5ers $1 account last night which boss DXYY got me in December last year. I am fully responsible for my faults and action, and I am very sad that not only did I let myself down but I also let down boss DXYY and boss infofirst. @boss DXYY, I still want to appreciate you for giving me the opportunity, it was my first prop account. I simply bleeped up because I was deeply in drawdown, and then I started pyramiding into my trades with the hope of getting out of draw down fast. simply put i wasn't disciplined in my money management. And lately I have been in a serious dilemma, getting into a trade isn't and issue for but getting out has become more of a problem for me due to greed, this has become more of a problem has lately all and I mean all my winning trades end up as losing trades and it's affecting my psych, on Tues, I had a profitable trade on US30 which went down 300 pips, I was so confident that when priced pull back I added another short position which I wanted to swing and hold up till CPI yesterday because I was sure CPI was going to come in strong when I woke up yesterday morning to check the trade not only did it reversed, it my stoploss on both trades. I am having problem setting realistic targets for trades and I think it's all becos of my greed.

@Boss gabsonfx, peteregwu, kaybee, and all other traders here, please how do you guys tackle indiscipline in your trading, pls I in all honesty need your help

Sorry for the account you lost. Sometines we just tend to learn the hard. That greed of a thing is so deep in most of us traders. It happened to me too in my last prop account, I was so sure of that trades and I did tatata like jeff before you know it, I just hit max draw down, that was all. But to be frank with you, I have decided never to try that nonsese again. It is not how quick you make it, it is how long you intend to last in the market and be successful. I have stopped adding too many positions in my trade that's beyong my account. Anytime I am placing a trade I add my positions once and for all and allow it to run without adding more positions. You see that rush for huge amount of payout, I don stop am.

3 Likes

Re: Forex Trade Alerts / Discussions: Season 24 by rhynoemmie(m): 9:38am On Apr 11
Davigle:
Good morning folks, i lost my 5ers $1 account last night which boss DXYY got me in December last

please how do you guys tackle indiscipline in your trading, pls I in all honesty need your help

Sorry about this bro.

It can only be a loss if you don't learn anything from it.

For a solution, go live. Even if it's cent acct.
Fund it and fail more. One thing will stick by the end of this experiment.

And it will be something that came to you on your own pace cos at the end of everything, it all boils down to you and your trading system.

Fta no go dy dere. My own 2cents
Re: Forex Trade Alerts / Discussions: Season 24 by GabsonFX2: 9:41am On Apr 11
Gold Swing Short

The swing short I have waited for is here: wait for the close of the currently forming H4 candle. Short her, SL = 2352.

TP = Open (D1 is not ready to swing short, therefore, I may get out in less than 3days ish) but who knows, this H4 may force D1 to yield, then I will plan to leave the trade till next week Friday

1 Like

Re: Forex Trade Alerts / Discussions: Season 24 by GabsonFX2: 9:42am On Apr 11
Bolded - great solution for Davigle

rhynoemmie:


Sorry about this bro.

It can only be a loss if you don't learn anything from it.

For a solution, go live. Even if it's cent acct.
Fund it and fail more. One thing will stick by the end of this experiment.

And it will be something that came to you on your own pace cos at the end of everything, it all boils down to you and your trading system.

Fta no go dy dere. My own 2cents

1 Like

Re: Forex Trade Alerts / Discussions: Season 24 by rhynoemmie(m): 9:44am On Apr 11
Maybe or maybe not

Let's see

Re: Forex Trade Alerts / Discussions: Season 24 by Geovanni412(m): 10:06am On Apr 11
Davigle:
Good morning folks, i lost my 5ers $1 account last night which boss DXYY got me in December last year. I am fully responsible for my faults and action, and I am very sad that not only did I let myself down but I also let down boss DXYY and boss infofirst. @boss DXYY, I still want to appreciate you for giving me the opportunity, it was my first prop account. I simply bleeped up because I was deeply in drawdown, and then I started pyramiding into my trades with the hope of getting out of draw down fast. simply put i wasn't disciplined in my money management. And lately I have been in a serious dilemma, getting into a trade isn't and issue for but getting out has become more of a problem for me due to greed, this has become more of a problem has lately all and I mean all my winning trades end up as losing trades and it's affecting my psych, on Tues, I had a profitable trade on US30 which went down 300 pips, I was so confident that when priced pull back I added another short position which I wanted to swing and hold up till CPI yesterday because I was sure CPI was going to come in strong when I woke up yesterday morning to check the trade not only did it reversed, it my stoploss on both trades. I am having problem setting realistic targets for trades and I think it's all becos of my greed.

@Boss gabsonfx, peteregwu, kaybee, and all other traders here, please how do you guys tackle indiscipline in your trading, pls I in all honesty need your help
rhynoemmie:


Sorry about this bro.

It can only be a loss if you don't learn anything from it.

For a solution, go live. Even if it's cent acct.
Fund it and fail more. One thing will stick by the end of this experiment.

And it will be something that came to you on your own pace cos at the end of everything, it all boils down to you and your trading system.

Fta no go dy dere. My own 2cents

Follow the advise by rhynoemmie, but I'll suggest you trade sth different. Try synthetics or some weird fx pairs like Hk50 for example.

You'll notice that most of your strategies will fail there, this will give you the freedom to discard what is not working and focus on what is working.

Secondly, for the issue of acct management...

You said sth about pyramiding and how it blew your acct

Your desperation is because you don't know money management. If you knew mm, you would be calm because there is a clear plan to exit drawdown and even if you fail, you'd know that you tried your best in that situation.

If you need more details, tag me on telegram in the grp or personally, and I 'll expand more on this .

Nairaland too dey ban person for sending YouTube links.
Re: Forex Trade Alerts / Discussions: Season 24 by G30fx: 10:47am On Apr 11
US30 am expecting buying but i am waiting for confirmation first
Re: Forex Trade Alerts / Discussions: Season 24 by rhynoemmie(m): 10:53am On Apr 11
rhynoemmie:
Maybe or maybe not

Let's see

I guess not
Stop loss hit
Re: Forex Trade Alerts / Discussions: Season 24 by nzechu(m): 10:58am On Apr 11
nzechu:

261% landmark. 423% in view. though a difficult trade
423% journey just resumed, I hope it's sustained

Re: Forex Trade Alerts / Discussions: Season 24 by randomShek: 11:00am On Apr 11
Davigle:
Good morning folks, i lost my 5ers $1 account last night which boss DXYY got me in December last year. I am fully responsible for my faults and action, and I am very sad that not only did I let myself down but I also let down boss DXYY and boss infofirst. @boss DXYY, I still want to appreciate you for giving me the opportunity, it was my first prop account. I simply bleeped up because I was deeply in drawdown, and then I started pyramiding into my trades with the hope of getting out of draw down fast. simply put i wasn't disciplined in my money management. And lately I have been in a serious dilemma, getting into a trade isn't and issue for but getting out has become more of a problem for me due to greed, this has become more of a problem has lately all and I mean all my winning trades end up as losing trades and it's affecting my psych, on Tues, I had a profitable trade on US30 which went down 300 pips, I was so confident that when priced pull back I added another short position which I wanted to swing and hold up till CPI yesterday because I was sure CPI was going to come in strong when I woke up yesterday morning to check the trade not only did it reversed, it my stoploss on both trades. I am having problem setting realistic targets for trades and I think it's all becos of my greed.

@Boss gabsonfx, peteregwu, kaybee, and all other traders here, please how do you guys tackle indiscipline in your trading, pls I in all honesty need your help
I suggest you use FundedNext Free Trial accounts moving forward instead of demo or diving into live trading. That way you’re still conditioning your system for a challenge.


What has worked for me so far is actively practicing discipline (the hardest part of this game). Everyone keeps saying “psychology is bad” but it’s really discipline - entries, exits, breaking even, staying out of low quality setups. Let’s call this trade management.

———————-

Journaling also helped me. You can find templates online. Journaling is boring, i don’t like it. Yet, the black magic in religiously keeping a journal is that it would force you to focus on trading less. Imagine repeat same thing over and over again 5 times at the end of the day - then you start postponing and before you know you stop altogether. Now you have no data to work with so you can spot areas of weakness.

For a start, review your forexfactory explorer data, maybe a session isn’t for your style or trading pair isn’t your thing or your RR is optimal at 1:2 and not 1:3.

Another thing that helped me is keeping a random journal on telegram. I created a group and just send messages to myself there of my thoughts during trades, my emotions too. Literally anything you’re going through, note it down so you can go back to it - you’ll see the root of your problem and how it has branched out into other bad habits you’ve built up.

——————————-

Planning my RR before taking the first trade on any challenge was also another factor for me. I figured that I’m a fan of taking too long to pass challenges. I found my sweet spot to be 0.5% until I’m 1% up then I stick to 1% risk. If I’m in drawdown, I still stick to 0.5%.

To help with still sticking to the daily drawdown rules, it’s a max of 2 losing trades a day (for a total of 3). I know this but is it hard to stick to? Discipline is very hard but I have seen that it has drastically helped reduced breaching of the trials.

—————————

If you’ve gotten so far and you’re still breaching your trials then it could be your very foundation of trading itself - you don’t have an optimal working system or an edge. Note that I didn’t say it doesn’t work. For this one, I decided to go the lazy way of sticking to the one setup I could understand out of the many SMC models. That’s the only pattern I trade.

Doing that I was able to narrow it down that if I still took a loss, it largely because
- I was trading against the trend
- my setup wasn’t complete but I entered any way
- wrong lot size

—————

Writing this feels like I’m talking to myself lol. I didn’t plan typing out this long but it was a familiar pain. I might have missed some things but that’s all I can think of now rn.

THE THREE MUSKETEERS
Trade management - Risk management- Optimal trading system.

Source: I’ve failed about 6 trials so far since I started in February I think but I’ve also being able to pass 4. A lot of mistakes, unlearning and relearning were made in the beginning but now, failing any challenge is 1000% indiscipline on my part.

Trials are still demo accounts so I took the step and got on a real challenge again. See you at the top Davigle 🥂

3 Likes

Re: Forex Trade Alerts / Discussions: Season 24 by VeeVeeMyLuv(m): 11:04am On Apr 11
Trade management - Risk management- Optimal trading system. 👍💯

Optimal trading condition too
Re: Forex Trade Alerts / Discussions: Season 24 by peteregwu(m): 11:29am On Apr 11
On USDHUF, I am looking to short down to 366.291 🤣

Re: Forex Trade Alerts / Discussions: Season 24 by F1re(m): 12:08pm On Apr 11
Bull's ride done, bears are you ready?

1 Like

Re: Forex Trade Alerts / Discussions: Season 24 by G30fx: 12:51pm On Apr 11
US30 buying not confirmed yet still waiting
Re: Forex Trade Alerts / Discussions: Season 24 by G30fx: 12:54pm On Apr 11
US30 am inn for buying let's see how it goes
Re: Forex Trade Alerts / Discussions: Season 24 by Donsheddy: 1:01pm On Apr 11
This forest no easy

1 Like

Re: Forex Trade Alerts / Discussions: Season 24 by rhynoemmie(m): 1:08pm On Apr 11
Ahead of ppi

Now, we wait

Re: Forex Trade Alerts / Discussions: Season 24 by rhynoemmie(m): 1:09pm On Apr 11
Donsheddy:
This forest no easy

Wetin u see boss🤣🤣
Re: Forex Trade Alerts / Discussions: Season 24 by Donsheddy: 1:11pm On Apr 11
Sell gold


Entry 2336
Sl 2342
Tp 2330


Rre 1:1
Re: Forex Trade Alerts / Discussions: Season 24 by Donsheddy: 1:16pm On Apr 11
Gold seems like a very very easy pair to trade 🤔🤔

1 Like

Re: Forex Trade Alerts / Discussions: Season 24 by Donsheddy: 1:16pm On Apr 11
rhynoemmie:


Wetin u see boss🤣🤣

I just recall all my experience on this biz over the years 😭😭
Re: Forex Trade Alerts / Discussions: Season 24 by G30fx: 1:17pm On Apr 11
US30 50 pips am out
Now waiting for heavy weights buying
Re: Forex Trade Alerts / Discussions: Season 24 by Donsheddy: 1:17pm On Apr 11
Gu sell order


Entry 25300
Sl 25600
Tp 25000

Rrr 1:1
Re: Forex Trade Alerts / Discussions: Season 24 by rhynoemmie(m): 1:19pm On Apr 11
rhynoemmie:
Ahead of ppi

Now, we wait

Trade closed..
Didn't hit entry. I Don rest
Re: Forex Trade Alerts / Discussions: Season 24 by rhynoemmie(m): 1:20pm On Apr 11
Donsheddy:


I just recall all my experience on this biz over the years 😭😭

No cap..

It's not easy
Re: Forex Trade Alerts / Discussions: Season 24 by F1re(m): 1:24pm On Apr 11
Gold bears are riding...
Re: Forex Trade Alerts / Discussions: Season 24 by Donsheddy: 1:26pm On Apr 11
Little suggestions....
If previous daily candle closed bullish...
Only search for bullish signal the next day...
If it's bearish candle only search for bearish signal...

You might be lucky to escape somany false moves...

I might be wrong thou...

Just a little observation...

Especially on gold 🤔

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