₦airaland Forum

CopyJoe:

Lolz.... boss Dey whine me... some body wey be say I go grab for leg just now, if e no bless me I no go leave am

GabsonFX:
Who remembers this GJ analysis I did 7days ago: see attached? I'm still on the trade and currently running about 120.0 pips - confirm from your chart.

......still running

Modified: I just added a picture from my phone monitor. Note: I don't trade from phone, I only monitor from it while away from lappy; still in bed zzzzzzz

I sha know say one day, I will be as consistent as this boss right here.... forex needs a lot of plannings, that’s why it’s been said that plan your trade and trade your plan.... check AUDCHF fam, a pattern more like a fallen wedge or descending channel is currently waiting to break out, I see a potential for atleast 150pips bullish move, depending on the market...could be less or even more...

X3n:
I code forex robots..

If you have a strategy that you want to turn into a forex robot, I will do it for you..

Offer is free for now.

Robot kor, cyborg ni

BotRascal:
Can somebody explain what price action is

Ha

Immortal99:
Let your profis run
Let your profits run

Na so my GbpNzd 80pips profit take reverse to my sl
...

My belle ooo this guy funny die.....

Jospido000:
There are people that have a bank account, but their bank account is empty, why?...because they are broke and do not have money to put inside the account, but that does not mean that the bank account is useless or not active,

Now, what I am trying to say is that there are different type of people on nairaland, if someone nairaland account post and thread is empty that does not mean that they are not active, it not everybody that like creating thread or post , some of us just prefer to read and move on.

Read and move on just one post since 2019?? Haba make una Dey fear God...

redsox11:
Small account but good trader? then join good funding companies. Gone are the days that you need huge capital. If and when you become good trader, you don't need more than 150 dollars to get started.

Wow �..... redsox Baba, I have read a lot about you on this platform in the previous seasons, bless me sir... ...and thanks for the inputs

GabsonFX:
There is no general rule but I will advise what I believe works.

Do simple interest for 6months or 12months, then review your risk/money management in view of increasing your lot size, not by compounding.

A word is enough for the wise, I grab...thanks big boss....

Eshockyou:
For a year now

Take a breather bro, trading is a marathon and not a sprint, it only takes a genius to learn how to trade in a year, is it possible for someone to get a university degree in a year?? So you think about it...

Eshockyou:
Tho I know some things about forex but I’m not able to stay profitable and consistent

So I decide if I go through in-depth study and analysis for some months and practice, I’ll be able to get along with it

How long have you been learning forex?

Eshockyou:
Just want to know and ask
Does anyone trade volatility, step index, boom and crash?
What about us30
Can anyone give an advice on it
Is it safe to trade and profitable ?

If I’m not mistaken, I believe you are a beginner, as a beginner in my humble opinion, I would advice you to stay away from very fast and furious kind of markets, all those instruments you mentioned up there are agents of death lol, they kills faster than a bullet....I’ll advice you trade more of less volatile pairs like the currencies, or else that’s a sure way to having a heart attack lol...

GabsonFX:
Pardon me if I'm harsh this time, this gets me mad all the time

---

Never! Ever!! Ever!!! Follow those that advise compounding in this business. A lot of bad behavior in this business.

It gets me crazy when I see those fascinating calculations and expectations and goals on profits expectation, these are all mirage. They tell you that my challenge is to turn $1K to $10K in 12months...I have always fought against this even from my past posts, especially during the time I hosted contests....I used the word - RUN. Again, when you see this, just block that person & run away from them.

I REPEAT! IGNORE THAT PASSION TO COMPOUND! You will blow that account in dew time.

I come in peace.

Yes boss, but in your opinion sir, what do you think it’s the best way to grow a small account?? What tips or advice can you give??

Kaesyrn:
Make sure you have a well tested and solid strategy in place especially in area of risk management. This can be summarize as thus:

1. Risk not more than 0.5% (1% max) on any single trade(50pips)
2. Focus more on signal from 4h to daily time frame for solid setup ( occasional H1 chart) and look only at the lower time frame(<H1 less than) only just for optimal entry
3. Always wait for high probability setup of your trading strategy... Don't rush to pick anyhow trade. Remember you must choose your battle wisely.
4. Capitalize on your high probability trade with Max lot size and ride it to the fullest (caution don't be too greedy)
5. Patience Patience and Patience

Cc.
BrightFuture48

I comot cap for you boss mi.... words well crafted..

****weekend gist continues, let’s learn from each other, what’s the trading rule you live by?

I can’t wait for the weekend gists..... yay, so what’s your one of the trading rules you go by? Mine is never widen your predetermined stop loss, what’s yours??

GabsonFX:
I finally killed gold after I swallowed some losses from last week's range, took about 500pips this time.

$29k....God when..

Kaesyrn:
Same here although I've so much refined myself that the highest SL I use is 25 Pips max and 5 pips min...

I confirm my bias of a trade on the HTF and go to the LTF to pick entries...

I'm basically a PA Trader with added confluence like trading the pull back, channel trading and use of FIBS....

Its as simple as that, trading doesn't have to be complex or learning a bunch of complex stuff...

Stick to the one you find simple enough to understand and make use of...

As much as I loved Elliot waves
Cc. Voraz

I found it too complex for my small brain to understand so I stick with what I could grasp...

And that's basically it,
find what works for you, do some back test and refine yourself so that you have big profits and small losses and you're good to good...

My small cents...

Bro you’ve said it all, small losses big profits, I think I will do some back/forwardtesting on entries on smaller timeframes starting from today for 3 months and see how it goes...

Examples of Wyckoff schematics

Theyoungmaster:
Wow! First and only time I've really used Wyckoff was February I think. I used it on 4H tf. It was profitable honestly but it Took a lot of waiting before the schematics formed completely. Never thought of trying it out on 15mins. Nice! Thanks for your contribution baba.

You are morethan welcome my brother, the fight is against poverty not ourselves, by the way I like your chart work very similar to what I do....

Donvic4u:
I was exactly in yr shoes brother
I added order block to help me pick entries on lower timeframe..
Mehn I was burned...
Nobody told me before I ran back to my strategy of 40pips SL n 70 pips Tp
Take what you get n move on o
Or u suggest u demo trade his strategy for months before u go live ( something I didn't do Sha, learn from my mistake)

Thank you my brother God bless you...

Theyoungmaster:
Boss, I've been demo trading my strategy since October last year. That's 7 months! Some trades are profitable. Some are not.
I just know deep down that somethings are wrong. I'm not entirely confident in it. Maybe it could be my psychology and not the strategy sha. For instance, last week, I took a trade on GBP/NZD last week, stuff first hit my Sl(25pips) before hitting my initial tp(100 pips). Same shit happened almost on all pairs on my watch list this week. It's draining. Maybe I'm not turning my entries properly. Maybe you could help me on how to deal with that. I'll really appreciate.

I’m not in a position to give you any advice but I will like to reiterate that 25 pips might be too small in relative to the time frame of entry...that’s why you are been stop-hunted... and also set your stop-loss according to market structure, not according to what you can afford....it’s even better not to take a trade once you notice the stop loss is too large according to market structure, if you know you can’t afford it....

Theyoungmaster:
I've been reading on order blocks and Wyckoff for a month now. Are you saying its not profitable? Make i run now?

Bro that is what my friend is doing exactly, wychoff schematics.... on those lower time frames, but he will draw a trendline or horizontal on 4h or daily, once price gets there he waits for bank manipulations, after which he will look for wychoff on 15 -5min TF either accumulation or distribution and trade it once he sees it....

infofirst:
Well stated and I agreed. Poor trading psychology and bad money management destroys a good trading strategy outcome in the short and long term and then I have come to realize also that some people do not have trading strategy in the first place.


You that is reading this...do you have a trading strategy or plan? Do you usually observe proper money and risk management? what about your trading psychology?

Until your answers are yes yes yes before the breakthrough can come. The good news is that you can provided you do not give up the struggle.

The great infofirst, sometime you use to sound like a prophet lol, I guess most of the things you say is base on experience though, the simple strategy I’m using usually gives me a 1:1R, like if I risk 50pips, I can only get 50pips- 70pips on the 4hr time frame, I was doing that and things seems to be okay, but recently my friend whom we started learning to trade the same time uses 10 or 15 pips stop-loss to make that same 50pips, that’s about 1:5r sometimes he uses 5pips stop loss, I’m thinking of abandoning my strategy and learn the way he trades and picks his entries, but it has been really hard for me to do, because he picks entries on the 15 or 5mins chart, sometimes even 1min time frame and that is very hard for me to do, as far as I’m concerned his strategy or method makes a lot of sense because of the RR and for example if takes 7 trades I’m sure he will win 5 out of it which puts him on a very high level of profitability.... what do you advice or suggest I should do at this juncture other people’s tips and advice is also welcomed...

Kaesyrn:
To successfully trade you actually need a good trading psychology and a good money management.

The sooner you know that the sooner you will stop the hunting strategies and just develop what fits you from the knowledge you have or accumulated knowledge you have from other people's strategies and then make your own personalized trading plan so you can follow it without feelings. And over the time maybe improve it.

And you will start focusing on improving your Trading Psychology and Money management so you actually successfully grow accounts and not burn them by your own trading psychology mistakes and poor money management. since no strategy in the world no matter how good you think it is, as soon as a bad trading psychology is applied and bad money management is applied you wont successfully grow a trading account but just burn it eventually, sometimes many times. untill the market humbly reminds you that its a probabilistic environment and the market does not move because of your strategy. but some people think that the problem is their strategy or they did not understand the strategy well, it might be true but still after fixing your strategy mistakes make sure you fix your trading psychology mistakes and money management mistakes. Just as how you remind yourself of all the confluences a trade has according to the strategy you are using also remind yourself of trading psychology facts before taking the trade and use proper money management to protect your equity at all times.

I hope you start focusing on Successfully trading with any strategy you want, like, prefer, understand better, mix whatever you want and personalize it and make your own trading plan of it and follow it with good money management and good trading psychology

I read and reread this write up over and over again, bro you’ve said nothing but the truth... bless up my brother...

Kaesyrn:
GBPUSD finally moving but surprisingly DXY dey drop...

Oluwa wetin dey occur...

Na now I see wetin occcur

My TP SMASHED I come buy am join chop sweet 60 pips...

Chop sell still chop buy it can only be GBPUSD my love...

This guy u Dey enjoy oo

infofirst:
Its better you agree with it because that is how it works. No one will wait for trades to close before taking it as DD. Not all DD will eventually end in gains. Its just like saying an account should not close out simply because the trades are still running despite the fact that DD is already 100%

Word...

Eryyy92:
Wtf...I'm selling this pair already because of that retest of the broken support.

oh gosh

Market is on a weekly low, but I’m not buying yet, I expect some sort of market manipulation, after the banks are done with their ojoro, I will go long, the little sells are just to grab liquidity after that price will go north.... my two cents anyways...

cdec01:
Hotforex is organising free training in Abuja.
Just want to share the information.

Lol, all they will teach is support and resistance blah blah blah... na joke I Dey oo...

GabsonFX:
This is the analysis @Eryyy92 brought up asking about a valid head and shoulder on NJ - I'm not sure if he later took the trade, but yhee, See the outcome, chai, this is big money. @blackman007, I have attached what you requested, hope it helps and also for those interested.

I analyzed several of this from my pipsbasketings moniker, find time, check them out if you need to see more of this picture analysis.

Gracias sir

Buy GCAD@1.706670
SL:1.701660
TP: open

GabsonFX:


Let me repeat the same message I was passing across the time you asked me.

Resistance and support levels are not actual lines or prices but zones between the close and lows or close and highs. it is always better to start by using a channel to denote the zone and not just lines. If after you master using the channel, then you can comfortably use lines only like I do.


There are situations where the guy could be right drawing it the way he drew it, and for sure, I would also have drawn it that same way in some situations; but to avoid stress, just use a channel. Again, resistance and support levels are not lines but channels.

Oga pips-b can you explain better with a picture or image depicting what you are explaining?? Don’t mean to stress you please...

GabsonFX:
You see that bearish hammer, move that line to its close instead of its low, then reanalyze. You shall get a valid head and shoulder

Cheers

Clear observation, this is a valid eye test lol...