Mama,
U are doing just fine
Trade cool, shun emotions

naijababe:


Could account for the upswing on GJ.............no complaining, I got in right at the bottom

EU, UC, GU aare buying now..Real breakout guys..I am already

Though entered late but I am applying the RETRACEMENT TRADING STRATEGIES

Join the cruise and catch some pips

Happy trading

Hi Mama,
Like I promise to share the season 2 of the topic... Here i am just made a U turn with -32PIPs

Win some

Loose some.....Makes the life of a traders

naijababe:


Episode two ke? From you or me? It won't be from me o.

@ Thread, just sold GJ with 50 pips sl and bought DJIA also with 50 pips sl. TP around 173.xx and 183xx respectively.

Amen oooooo. I don enter this atlantic no complaint.. all I need now is Rod of Moses to part ds sea..%#$GBAMS&

naijababe:


Dabbling into exotics is not the problem, ignoring oranges completely for exotic fruit is the real yawa! May the force be with you

NAIJA BABE,
from me ni oooo.. I just enter Gold position ... So the outcome of my order at the end of the trade is what I pre tagged Episode 2...lolz

naijababe:


Episode two ke? From you or me? It won't be from me o.

@ Thread, just sold GJ with 50 pips sl and bought DJIA also with 50 pips sl. TP around 173.xx and 183xx respectively.

RE: ORANGE SELLER-
CREDIT: NAIJA BABE

Wao! The orange seller woke up today started selling the EXOTIC.. Fingers crossing....Look out for the season 2 of the episode after the close of trade

I look forward to see a better trendy week come Monday...

Thanks to GU and UJ that voted me in as the GOvernor of the CBN where i printed my dollar this outgoing week..

ALERT

UJ is selling rt nw..u may.wanna go SHORT on USDJPY

Ok Mama,
Lolz

naijababe:


Lol..........not endorsing robots. Just pointing out something to info which are two most important factors of successful trading. Unfortunately, robots lack both.

XM CARD

Is there anybody in the house using XM MASTER CARD.. I need ur advise to go about it...but first, I wanna count on ur experiences

Waiiitttiiiig.....

@ Naijababe,
I am of the opinion that ROBOTIC trading in Fx is not advisable since it has a shortcoming of blowing accounts though same with MANUAL trading.
I may be wrong but I am yet to see a trader without manual experience

I think what we need to hammer on this thread is the rudiments of MANUAL trading as this would go a long way to helping the upcoming traders

I am in no way against the system of ROBOTIC trading and I agree with most ogas in the house on its use but lets chalkboard the real rudiments in order to support the so call aspiring investors and traders

My 1 cent

naijababe:


Maybe but the big difference is the lack of emotion and adaptability. Two key factors missing in robots

Ok, will.add .my group

yagachi:


Hello, I am a newbie pls add me on whats app 08036870729

Dear Boss,
Yes u r very on point.
Ur submissn reminded me of my struggle during my second burnt account. I was waitg for d best trade opportunity which.in acyial sense no iñdicator would give u. I kept waitg until oversold or overbought when i placed a positn, d market being independent would just reverse and next i started sweatg cos of negative profit.

Until i read from Henry Liu d chinese guy which actually.shaped my mentality on chart visualizatn and Price Action. Helpful today.

I am of d opinion.that most newbees in d house should learn Prive Action rather than clumsy chart setups and robitic interventn....

Thanks.for.sharg d Las Veg trip idea. Very insightful

Samuel
CEO (C&F INFOTECH)
dnysamuel@yahoo.com

iheanyiebeneze:

I THINK THIS CAN HELP SOMEONE..


Lessons from the Las Vegas Strip


There are many different approaches to trading … perhaps you spend a lot of time checkingup on the fundamentals, reading the financial press and company reports … perhaps you study technical analysis late into the night …

The cleverer we get with our trading, the more likely we are to forget one key fact – successful trading is about playing the probabilities.

The concept of playing the probabilities, or the odds, is one that sits uncomfortably with some traders – they feel that it makes them sound like gamblers.

In fact, it couldn’t be further from the truth.

If you have a firm grasp on the odds, you’re not the gambler – you’re the casino.

Las Vegas casinos make their money by maintaining an edge of around 4.5%. That means that out of every dollar that is brought into the casino, 4.5 cents stay there. Some people win big, some people lose their shirts, but on average, the casino makes 4.5%.

The casinos aren’t gambling – they are playing the odds.

They don’t care if someone hits the jackpot on a slot-machine. As long as people are coming in through the door – they’ll keep taking their 4.5%.
So, how do you apply this to your own trading?

(A) You can’t read the future.

However good your fundamental knowledge is, or how much you’ve studied your charts – you cannot know what the market is going to do next.
What you can do, however, is judge the likelihood of what the market will do next, and position your trades accordingly.

The market doesn’t care what you “think” – it’ll go ahead and do what it likes.

But if you’ve played your probabilities correctly – the outcome should be in your favour over the long-term.

Successful traders know how to exploit the probabilities of the markets, with the knowledge that in the long-term, they’ll come out on top.

Unsuccessful traders want to “win” every trade, and as a consequence end up chasing their tails.


(B) Stabbing in the dark

The great thing about trading is that we’re not expected to get it right every time.

If we had to put all our money on predicting the outcome of one trade – we’d be screwed.
Instead, we don’t have to make predictions. It doesn’t matter what the outcome of the next trade is … nor the one after that.

Provided we’ve got our probabilities right.

Playing the probabilities will ensure you get it right more often that trying to predict the outcome of individual events.

Stop trying to get it right

Trading requires exactly the same approach.

We need to find the way that will tip the odds in our favour. They don’t have to be far in our favour – just enough to give us that edge that will bring in a profit.

Once we know that the probabilities are on our side, all that remains is to repeat … repeat … repeat …

We need to stop worrying about what will happen “this time”. If you’ve found your edge – it really doesn’t matter if you win or lose “this” trade or “that” trade.

As traders, most of us strive to learn as much about the process as we can. But the more we delve into the process of finding successful trading signals, the easier it is to lose track of long-term probabilities.

Long-term probabilities are all that matter in your trading. Provided they are in your favour – you’ll always be ahead of the game.
Much of my trading life, I’ve endeavoured to find technical signals that will give me a more significant edge, and bigger profits, but the best edge isn’t huge – it’s consistent.

That’s how casinos know they’ll have a steady income to pay the wages – and why they hate anything that could make a dent in that edge.

For traders, it means that we need to stop making predictions, but start playing the odds – be the casino, not the gambler.

TILL NEXT WEEK.
COMPLIMENTS.

Dear Boss,
Yes u r very on point.
Ur submissn reminded me of my struggle during my second burnt account. I was waitg for d best yrade opportunity which.in acyial sense no i.dicator would give u. I kepy waitg until oversold or overbought when i placed a positn, d market beindependent would just reverse and next i started sweatg cos of negative profit.

Until i read from Henry Liu d chinese guy which actually.shaped my mentality on chart visualizatn and Price Action. Helpful today.

I am of d opinion.that most newbees in d house should learn Prive Action rather than clumsy chart setups and robitic interventn....

Thanks.for.sharg d Las Veg trip idea. Very insightful

Samuel
CEO (C&F INFOTECH)
dnysamuel@yahoo.com

iheanyiebeneze:

I THINK THIS CAN HELP SOMEONE..


Lessons from the Las Vegas Strip


There are many different approaches to trading … perhaps you spend a lot of time checkingup on the fundamentals, reading the financial press and company reports … perhaps you study technical analysis late into the night …

The cleverer we get with our trading, the more likely we are to forget one key fact – successful trading is about playing the probabilities.

The concept of playing the probabilities, or the odds, is one that sits uncomfortably with some traders – they feel that it makes them sound like gamblers.

In fact, it couldn’t be further from the truth.

If you have a firm grasp on the odds, you’re not the gambler – you’re the casino.

Las Vegas casinos make their money by maintaining an edge of around 4.5%. That means that out of every dollar that is brought into the casino, 4.5 cents stay there. Some people win big, some people lose their shirts, but on average, the casino makes 4.5%.

The casinos aren’t gambling – they are playing the odds.

They don’t care if someone hits the jackpot on a slot-machine. As long as people are coming in through the door – they’ll keep taking their 4.5%.
So, how do you apply this to your own trading?

(A) You can’t read the future.

However good your fundamental knowledge is, or how much you’ve studied your charts – you cannot know what the market is going to do next.
What you can do, however, is judge the likelihood of what the market will do next, and position your trades accordingly.

The market doesn’t care what you “think” – it’ll go ahead and do what it likes.

But if you’ve played your probabilities correctly – the outcome should be in your favour over the long-term.

Successful traders know how to exploit the probabilities of the markets, with the knowledge that in the long-term, they’ll come out on top.

Unsuccessful traders want to “win” every trade, and as a consequence end up chasing their tails.


(B) Stabbing in the dark

The great thing about trading is that we’re not expected to get it right every time.

If we had to put all our money on predicting the outcome of one trade – we’d be screwed.
Instead, we don’t have to make predictions. It doesn’t matter what the outcome of the next trade is … nor the one after that.

Provided we’ve got our probabilities right.

Playing the probabilities will ensure you get it right more often that trying to predict the outcome of individual events.

Stop trying to get it right

Trading requires exactly the same approach.

We need to find the way that will tip the odds in our favour. They don’t have to be far in our favour – just enough to give us that edge that will bring in a profit.

Once we know that the probabilities are on our side, all that remains is to repeat … repeat … repeat …

We need to stop worrying about what will happen “this time”. If you’ve found your edge – it really doesn’t matter if you win or lose “this” trade or “that” trade.

As traders, most of us strive to learn as much about the process as we can. But the more we delve into the process of finding successful trading signals, the easier it is to lose track of long-term probabilities.

Long-term probabilities are all that matter in your trading. Provided they are in your favour – you’ll always be ahead of the game.
Much of my trading life, I’ve endeavoured to find technical signals that will give me a more significant edge, and bigger profits, but the best edge isn’t huge – it’s consistent.

That’s how casinos know they’ll have a steady income to pay the wages – and why they hate anything that could make a dent in that edge.

For traders, it means that we need to stop making predictions, but start playing the odds – be the casino, not the gambler.

TILL NEXT WEEK.
COMPLIMENTS.

The orange seller story was a great one and infact, signal a warning to me too ... tanks Naijabae

seyejohn94:


I guess ur own definition of a great trader must be pretty high... Abi itz humility...

D orange seller story is really inspiring...

Moni My Ogas, Bosses and Gurus,
As we are on the look out for the NFP news release today, Let us also bear in mind the Good Friday break as we plan our trades.

CAUTION

1. Ensure ur position to be opened would not linger beyond 14.30GMT i.e 2.30 p.m.

2. Do not enter the news trend unless u have confirmation of the trend

3. It may be necessary to trade the after news volatility

4. Please accept or discard

5. Good Friday to you, Good PIPs to u, bestsss

Yeah,
That is our build... Loosing is part of winning Ma.

Bests

naijababe:


-50 pips. Na so I just dey collect beating this week

Bro,
No, I don't run PAMM... for now

mrikay:


DO YOU RUN A PAMM ACCOUNT?

LONG on GU

another 75 PIPs today...

No more trade today

Waiting for NFP tomoro around 1.30 p.m.

Best of the market to u gurus and ogas in the house

Glory Glory, TP filled.

Hit 197 PIP on GU Short today...Looking at re entry on GU LONG...

Trade cool, shun emotions

GU is now selling....u can join the race

Sorry BRO,
I share ur pain cos I was there in ur shoe twice.

LESSON LEARNT

1ST ACCOUNT BLOWN ($250): GREED

2ND ACCOUNT BLOWN ($300): POOR INTERNET, USED CYBER CAFE, NO PERSONAL LAPTOP, REVENGE ON THE MARKET

Here I am today after 3 years, I started demo again, reading from gurus, and working on my emotion and psych for 3 year untill i found a balance that I opened a new account with XM.

Yes, I am doing fine now with all the past lesson serving as traffic light in my present trading career.

MY SUGGESTION FOR YOU BRO

Go back to DEMO with a minimum amount of $200 open balance for trading
Do not go back to real account untill u are able to crush the RED DEVILS on the demo

I wish u best in all ur life plans

Samuel
dnysamuel@yahoo.com

Cul4real:
Am tired ooo. I had blew up my account for the third time. And no where to recover the loss if I quit forex trading, however I am afraid of forex trading now. What a CONFUSION. Pls your advice?

SHORT : UJ

Watching

Your are not wrong at all, the Daily chart indicated BEARISH.

Out now with TP hit. It was a real war since 7.00 a.m...Happy though at the end of the race.

Thanks for your observation

God bless you PIPful

dukum:

Watch ur daily chart bro,all i see is bearishness.... I could wrong tho

Trading now

Pair: EJ

Position: LONG

Analysis: MA Crossover

Watching

[center]THIS MIGHT HELP[/center]

1. Gamblers go to casino. All unproved, spontaneous actions in Forex trading — are a part of pure gambling.
Any attempt to trade without analysis and studying the market is equal to a game. Games are fun except when you lose real money...

2. Never invest money into a real Forex account until you practice on a Forex Demo account!

3. Go with the trend! – Trend is ur friend

4. Always take a look at the time frame larger than the one you've chosen to trade with.
It gives the bigger picture of market price movements and thus helps to clearly define the trend. For example, when trading with 15 minute time frame, take a look at 1 hour charts.

5. Never risk more than 2-3% of the total trading account
One important difference between a successful and an unsuccessful trader is that the first is able to survive under unfavorable market conditions, while an unsuccessful trader will lose his account after 10-15 unprofitable trades in a row

6. Put emotions down. Trade calm
Don't try to revenge after losing a trade. Don't be greedy by adding lots of positions when winning. >>>>>>>>>Overreaction blocks clear thinking and as a result will cost you money. Overtrading can shake your money management and dramatically increase trading risks.

7. Choose the time frame that is right for you.
Choosing wisely means that you are comfortable and have enough time to analyze the market, place and close orders etc. Some people can't wait for hours for the price to make a move, they like action and therefore prefer smaller time frames.

Cheers!

Yeah,
Your judgement of the trend was in order.. Also Batlling with some red devils here on UG

naijababe:


Bought GJ at 177.45, sl at 176.90. I am expecting it to get to 18010 sometime this week sha

Yes,
Everything points at LONG on GPB,

In fact, I just enter LONG ON GU, watching sha

naijababe:
Ideally, I'd be selling DJIA straightaway but I wont because all kind of magic might happen during NY session. I am bullish biased on GJ but who knows sha

The news release often has little or no impact on the market. as u can see, even after the release of the new, GPB is still goin g SHORT.
Not all news could be traded....

We can still bring home some PIPs even without News release.

Wish u a PIPful week

Sunnycliff:
Waiting for the fundamental news on GBP by 9:30 after which a place a trade on GNZD!!

Just did a good moni PIP with EJ >>>>>> 65+ PIPs still counting

Good moni all,
As u go about ur trading career today, kindly ensure u check GREED and be patient.

You would also be profitable only if you are satisfied with little. Better days are always ahead...No Rushing ehn...

Wish u PIPs filled day