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Forex Trade Alerts / Discussions: Season 24 - Business (258) - Nairaland

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Re: Forex Trade Alerts / Discussions: Season 24 by Christie171(f): 12:29am On May 21
Cashhy11:
Because you treat it as what it is "Demo". If it was live account, would you still have your stoploss at breakeven even after more than 1200pips move? Truly it's demo, but we shouldn't be treating it as such. Whenever I lost on demo when I was still backtesting, I always had mood swings.

I traded demo as if it was live account. I even stopped participating in those free monthly competitions since December last year, because of the effect it was having on my trading performances. If care is not taken, that's how one will spend 10years going in cycles.
When I newly started trading on demo, I bought Gold, then got distracted without setting SL. Checking back only to see Gold descending to hell with my $2000 remaining just $200, I cried like a baby that day...I had to uninstall MT4 for good 2 months 😂

After that incident, I guard my demo account jealously as if na my real money 😁😆

4 Likes

Re: Forex Trade Alerts / Discussions: Season 24 by Thunday1005(m): 12:29am On May 21
eljayi99:
I kinda of noticed my trade on Exness Spread started to increase around 10pm, my trade was on profit but suddenly I’m at loss… does this means I have to close all my trades before 10pm daily?
Every 10 pm nigeria time the market usually resets and starts for the new day trading day during daylight saying while 11 pm for standard time.
Re: Forex Trade Alerts / Discussions: Season 24 by NaMe4: 12:43am On May 21
eljayi99:
I kinda of noticed my trade on Exness Spread started to increase around 10pm, my trade was on profit but suddenly I’m at loss… does this means I have to close all my trades before 10pm daily?

No.
With most brokers, at the end of the NY session, the spread is usually significantly increased. This may reflect on ongoing trades and even account balances in some instances.

But these changes are usually reversed during the Asian session. If there is a net deduction in your account, you may be paying commission for position(s) (for certain assets) held overnight.

Also note spreads (and margins) are also significantly increased during periods of high impact news.
Re: Forex Trade Alerts / Discussions: Season 24 by NaMe4: 12:51am On May 21
eljayi99:



Pls does this bank transfer method work with Exness? if yes, can I withdraw with crypto or must I withdraw through bank?

It's safer and faster to withdraw into your bank account.
Re: Forex Trade Alerts / Discussions: Season 24 by Geovanni412(m): 1:02am On May 21
Artillerous:
Please House i need an assistance of VPN

Psiphon is free.

3 Likes 2 Shares

Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 2:05am On May 21
samfelly:


Actually, NO (to answer d bolded). Would've closed it long ago.

Maybe I should trade their places - Treat Main accounts as Demo and Demo accounts as Main. That ought to assist the psychology a little
There's no difference. Unless someone would have to lie to you to help him trade a demo meanwhile it's a live account. That's the only remedy. Once you are aware of what's at stake. The psychology will kick in again, and you start over planning.

It's just the psychology at play here. I think this psychological aspect is what's taking most of us years to master and not really the trading aspect per se.

3 Likes

Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 2:15am On May 21
Christie171:
When I newly started trading on demo, I bought Gold, then got distracted without setting SL. Checking back only to see Gold descending to hell with my $2000 remaining just $200, I cried like a baby that day...I had to uninstall MT4 for good 2 months 😂

After that incident, I guide my demo account jealousy as if na my real money 😁😆
🤣🤣. I've grown over it now though, the losses don't shook me anymore now, maybe when I hit a crazy losing streak sha. I hope that day doesn't come anytime soon sha. What year was this you were talking about btw?
Re: Forex Trade Alerts / Discussions: Season 24 by Christie171(f): 2:20am On May 21
Cashhy11:
🤣🤣. I've grown over it now though, the losses don't shook me anymore now, maybe when I hit a crazy losing streak sha. I hope that day doesn't come anytime soon sha. What year was this you were talking about btw?
That should be 2018 🥱
Re: Forex Trade Alerts / Discussions: Season 24 by FXcandles(m): 2:50am On May 21
Oil prices are still below the price level of 80 for US Crude oil, the PBOC's decision to keep interest rates unchanged only had a temporary impact in increasing oil prices to reach the price level of 80.03 before finally falling again to a low of 78.61. Oil price increases may be restrained due to Fed officials' doubts about the 2% inflation target. inflation developments may be unstable and indicate that the decline is only temporary and there will be no further progress in inflation this year. Elsewhere, gold and silver experienced consolidation after a strong rally last week, however, precious metals may still receive support from geopolitical risks, and the possibility of the Fed cutting interest rates.

Re: Forex Trade Alerts / Discussions: Season 24 by Luada(m): 6:40am On May 21
Good day guys, pls have anyone use maven prop firm
Re: Forex Trade Alerts / Discussions: Season 24 by Davigle(m): 7:01am On May 21
LincolnOnyeabor:


Use the Normal Bank Transfer method sir.

It accepts as low as $1.

You will be given an account number to pay to and in a few minutes it will be credited to your account and MT5

Thank very much bossmi
Re: Forex Trade Alerts / Discussions: Season 24 by Supremefx(m): 8:50am On May 21
Re: Forex Trade Alerts / Discussions: Season 24 by randy01(m): 9:17am On May 21
Luada:
Good day guys, pls have anyone use maven prop firm
They are good and they announced last month they will be paying direct to your Nigeria bank account as our government is cracking down on P2P transaction.they use match trader platform.

2 Likes

Re: Forex Trade Alerts / Discussions: Season 24 by Jameselias: 9:28am On May 21
FFT
Re: Forex Trade Alerts / Discussions: Season 24 by Geovanni412(m): 10:03am On May 21
Jameselias:
FFT

Step to claim free acct:

Re: Forex Trade Alerts / Discussions: Season 24 by samfelly: 10:23am On May 21
Cashhy11:
There's no difference. Unless someone would have to lie to you to help him trade a demo meanwhile it's a live account. That's the only remedy. Once you are aware of what's at stake. The psychology will kick in again, and you start over planning.

It's just the psychology at play here. I think this psychological aspect is what's taking most of us years to master and not really the trading aspect per se.

A short/long break would really help the psychology small o, but addiction no gree me see am take cheesy

3 Likes

Re: Forex Trade Alerts / Discussions: Season 24 by Geovanni412(m): 11:23am On May 21
samfelly:


A short/long break would really help the psychology small o, but addiction no gree me see am take cheesy

If you find yourself feeling proud after a good trade, try this experiment...

Focus on learning a new subject of interest every day at least for 30 minutes.

For example: You can start watching videos related to Austrian School of Economics or philosophy or even football tactics

What you will realize is how much you do not know about the new subject area - this will humble you.

Learning about this new subject area of interest is a healthy distraction which will provide you an avenue on what to think of whilst your trade is running or in profit.

2 Likes 1 Share

Re: Forex Trade Alerts / Discussions: Season 24 by Luada(m): 12:00pm On May 21
randy01:

They are good and they announced last month they will be paying direct to your Nigeria bank account as our government is cracking down on P2P transaction.they use match trader platform.
Thanks so i buy an account using my palmpay
Re: Forex Trade Alerts / Discussions: Season 24 by Succhris: 12:04pm On May 21
Buy Usdjpy 156.21 sl 155.95 tp 157.21
Apply MM and RM

Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 1:44pm On May 21
Christie171:
That should be 2018 🥱
Wow, 6years ago, so how has it been so far mam? The loss pains should be so minimal now I guess?
Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 2:20pm On May 21
This is the trade I'm currently on, EurGbp, the H1 has been bearish for some time now, the retracement upward trendline has been broken, and former resistance that was broken with a fake out has later held, now retested twice to confirm the resistance will hold. I don't see any reason why this shouldn't drop to the downside, my usual 1:2rr.

But this forex, it can rubbish your analysis and make you look like a fool sometimes. So don't try this at home.

2 Likes 1 Share

Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 2:50pm On May 21
Cashhy11:
This is the trade I'm currently on, EurGbp, the H1 has been bearish for some time now, the retracement upward trendline has been broken, and former resistance that was broken with a fake out has later held, now retested twice to confirm the resistance will hold. I don't see any reason why this shouldn't drop to the downside, my usual 1:2rr.

But this forex, it can rubbish your analysis and make you look like a fool sometimes. So don't try this at home.
One of those easy trades. Trade fell in line. Next!

1 Like 1 Share

Re: Forex Trade Alerts / Discussions: Season 24 by samfelly: 3:48pm On May 21
Geovanni412:


If you find yourself feeling proud after a good trade, try this experiment...

Focus on learning a new subject of interest every day at least for 30 minutes.

For example: You can start watching videos related to Austrian School of Economics or philosophy or even football tactics

What you will realize is how much you do not know about the new subject area - this will humble you.

Learning about this new subject area of interest is a healthy distraction which will provide you an avenue on what to think of whilst your trade is running or in profit.

Our only FTA's/resident Prof., I dey believe you, sir. Thanks. Greatly appreciate this diversion therapy you suggested. Will take it up
Re: Forex Trade Alerts / Discussions: Season 24 by Geovanni412(m): 4:08pm On May 21
samfelly:


Our only FTA's/resident Prof., I dey believe you, sir. Thanks. Greatly appreciate this diversion therapy you suggested. Will take it up

You're welcome, bro.

We all learn everyday.

Do give us feedback on any difference you notice psychologically after a week or two.

1 Like

Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 4:19pm On May 21
If this can come down a lil bit for me to pick it up, but it's almost 6pm I close all trades for the day. So don't really think this trade will happen.

2 Likes

Re: Forex Trade Alerts / Discussions: Season 24 by DCroc: 4:59pm On May 21
Cashhy11:
If this can come down a lil bit for me to pick it up, but it's almost 6pm I close all trades for the day. So don't really think this trade will happen.
U added Pivot 2 ur trading system. Where u using it during evaluation
Re: Forex Trade Alerts / Discussions: Season 24 by Christie171(f): 5:01pm On May 21
Cashhy11:
Wow, 6years ago, so how has it been so far mam? The loss pains should be so minimal now I guess?
Actually thought I'd outgrow the pain until the magic of last Wednesday where Gold wiped out both buyers and sellers...I refused to cry ooo, just shutdown and slept all through to continue the next day 😁😀
Re: Forex Trade Alerts / Discussions: Season 24 by BeginnerTrader: 5:01pm On May 21
Cashhy11:
If this can come down a lil bit for me to pick it up, but it's almost 6pm I close all trades for the day. So don't really think this trade will happen.
Keep killing it bro, no look bad. I wonder how una take dey trade currency pairs.
Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 5:48pm On May 21
Cashhy11:
If this can come down a lil bit for me to pick it up, but it's almost 6pm I close all trades for the day. So don't really think this trade will happen.
Trade came down, but I'm done for the day already. We go again tomorrow.

Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 5:52pm On May 21
BeginnerTrader:
Keep killing it bro, no look bad. I wonder how una take dey trade currency pairs.
Same way I wonder why anyone will focus on just one instrument, when we have so many currency pairs lol. They are all the same, just pure candles sticks behavior around market turn around points(S&R) lol. Thanks bro. How's it going from your end there?

1 Like

Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 5:55pm On May 21
DCroc:
U added Pivot 2 ur trading system. Where u using it during evaluation
Saw it recently last weekend while watching one of my newly found mentor videos on YouTube, since it's also basically a form of supply and demand zones, which I trade. I played around it all weekend and saw how powerful it can be, so I added it. I deleted all those S2,S3,S4 and R2,R3,R4 respectively, just using the pivot and the S1 and R1.

1 Like

Re: Forex Trade Alerts / Discussions: Season 24 by GabsonFX2: 6:15pm On May 21
Discussion & Analysis
Someone should check GBPNZD on D1, and analyze. I see a potential there! kiss

Let's see what you see.

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