₦airaland Forum

amolak:
I thank you Lord for the blessings you have bestowed on my life. You have provided me with more than I could ever have imagined. You have surrounded me with people who always look out for me.

Also, to our great man, honourable INFOFIRST from the depth of my heart, I thank God for using you to touch my life, may you forever remain in God’s blessings, and may you continue to be a light in people's lives. Thanks a million, you have done nobly.

To all my well wishers. Thanks so much, I really appreciate your well wishes ...

Congratulations bro, you've really inspired us here with your superb performance. Wishing you more successes. Stay Blessed.

FXMasterian:
I cashed out today (see the dates and time) too on gold and other pairs, at least, I'm among the people cashing out steadily this week. Show me yours (among the people you mentioned are cashing out).

I'm very busy here all day (this is my full-time job) and you are here want to troll me - You chose the wrong person.

GabsonFX'S - ALTERNATE ACCOUNT
NOTE: I will be coming up with an alternate account - GabsonFX2, to serve me whenever bot does its thing

Wow! E be like say you don become day trader/ scalper oo because this number of trades per day and your pips target is completely different from what you're known for aiming like 200 to 300 pips. This is renaissance technologies trading approach reincarnate lol.

Weldone the most important thing Is positive PnL at the end of the day the rest na torii .

FreshGuy2:
This EURGBP was exactly one of the trades i entered last night using OB and setting my first tp just above the previous highs, i was waited and hoped that price would hit at least my first tp but instead price went down... The things you listed, i observe at least 1 to 3 whenever i trade but I'm still losing

We have discussed this before with boss GabsonFX. There is no right answer to it, it all boils down to your personality, how risk averse you are. But as general rules of thumb I would advise that you take half the profit when you're in profit say 30 to 50 pips depending on your tp (half your tp) , then move your SL to break even and let the remaining lot size rides till you reach your predetermined target.

However, if you can't take half profit midway then always move your SL to break even when you are in profit half your initial tp. Here you would have protect you capital and you only loss the floating profit in case of retracement and you can always look for better entry again but atleast you would have avoid going to negative.

Like I said earlier it's all about what you're cool with and follow what you please with but remember protecting your capital always comes first then your profit.

Wishing you good luck.

russy:
Hello traders i am currently runing MFF challenge, i need someone to explain the 5% daily drawdown to me, i am afraid as I dont want to breach the rule.

It's a bit confusing but from video I watched on YouTube. You have to look at your balance or equity at the beginning of each day then find the 5% of the one that is greater (between Balance or Equity) then that is your daily DD.

Example1 Balance = 1000$ Equity = 2000$ your Daily is = 2000 * 0.05 = 100$

Example 2. Balance = 1200$ Equity = 1100$ your daily DD = 1200 * 0.05= 60$

boom99:
I no fit meet upooo. Yesterday I was 9th position but I woke up today say I done dey 12th. Eeh better make I use larger lotsize make my account grow abeg. The rule no too favour me. Make I dey my corner build the account on my own abeg.

Lol.. My bro stop looking at the leader position it will mess up your psychology big time. I have traded ftmo trials consecutively like three time in a roll hitting atleast 10% target weeks before the competition but I have been badly trading just because of looking at leader board. It will always make you trade under pressure hence you committing mistakes which the market will punish you for accordingly lol.

I have learnt greatly from these competitions that, it's best idea to stay focus and avoid any form of distractions and trade leisurely without forcing any trade. Even if you don't meet up you will definitely do well without looking at your position too often. I will have to discipline to avoid such distractions going forward in subsequent competition.

Cheers

Feshizzy:
For pro traders only!

This is for funding prop firm accounts,
If you have money for 20k account,
Don't buy, unless you can be funding it as soon as it blows to avoid panic trading and fear,
Instead, buy a 10k account, keep the balance for back up,
When you pass the 10k challenge,
Reduce your risk to standard, don't ever be in a rush,
Play it cool, just 3% a month can help you buy the next account or live comfortably.
Once you don balance wella,
The you can buy a 20k account from profit from your 10k,
Like so, within a reasonable time and risk management,
You could max out any prop firm account,
Like ftmo is 400k,mff is 600k
Let's say you max out on ftmo, 2% of 400k is 8,000usd,
That's enough to live a fine life.

But to reach there, you have to know what you are doing, and after getting there you have to learn to keep a straight head to remain at that status.

Happy Pipping,
Keep it simple

Edit: this is the model i am currently working on

Fantabulous.... Nice MODEL you have here

boom99:
Infofirst abeg come disqualify me ooo. It was deliberate

LMAO why bro?

infofirst:
I think if we trade responsibly. We will likely meet up. The opportunities in the market are unlimited. Yes we can
Our last week winner continue his impressive and responsible trading this week and am happy to inform us all that despite trading responsibly. He hit his phase 1 target on the $10k account today.

Wow! Congratulations to @amolak this is very encouraging.

infofirst:
Continue trading.

Okay thanks boss.

alphaNomega:
I strongly feel retail traders don't have access to important information that will improve their chances of success.

Nope bro! As Donvic4u and klinksd rightly said the price is like DNA of the market which reflects all the available info concerning that instrument. This is only one element Efficient Market Hypothesis EMH got right the rest na wash.

So no hidden info except insider trading. And if you know how to remove noise from alpha you will be amused how market follow well defined patterns, the randomness of it minimal.

alphaNomega:
Omo, making consistent profits in Forex is hard as heck. Market is too random

To enter trade na one heck thing to know where to exit na another palaver lol. But with thorough discipline it can be mastered.

GabsonFX:
Last 2weeks on the ongoing contest, I cried out when I saw two people opened 2 different accounts with different monikers, I took snapshots of my proofs just in case they would like to deny their actions, then again, I pleaded that they should not trade one of the two accounts to avoid being called out. They yielded as I monitored the dashboard till like the 8th day (the accounts were still at the starting balance of $10K), then at the 8th day, the untraded accounts were manually disqualified due to inactivity I believe.

Kudos to these two people for obeying and respecting my call on that......Nobody should try to cheat, nobody - I hat* when anyone tries to prove too smart - one day you will be caught.

The norm I have also noticed people doing (though it has ever been in existence, but now rampant) is that 5 different calls are made, upload the updates on the ones that go their ways but ignore the ones that don't...Many of these happened here last week.

Above all, I will give kudos to some special people that are really doing the right thing here, I know them, I see them, they know themselves. If I will be coming up with a contest anytime soon, these are the only set of people I will send contest invite to -------- we are not f**ls here, losses are part of the business, infact all businesses.

Boss you be real detective o. Wow! so some people are trying to play smart when they suppose learn from their mistakes and improve on it.

Nawaooo

infofirst:
5% Daily DD hit. The email must have stated the reason.
if you think it is in error, kindly reach out to me and we can work it out

No! here is my metrix. No reason was given.

https://trader.ftmo.com/metrix?share=311a6b091fb6

infofirst:
It is

Boss mi why I my disqualified? Just see the email from fxblue that I have been manually disqualified by the organizer. May I know why

Cheers

infofirst:
And the contest has ended and complete.
@Amolak will be sponsored for the $10k and #10k for data.
@hayordeji will get #10k and be in wait list to be sponsored for $10k
@lucab will get #10k and be in wait list for $10k sponsorship
Both need to be in wait list so I can see the progress of @Amolak.
All three should reach out to me to claim their prizes.
@pipMarshall and @femora and @charly20 are sighted and noted. Your efforts will not go in vain. Things are in the pipeline for you too but we need to see some consistency moving forward.

Congratulations to us all. Every participant is a winner.
Next contest starts on sunday night. Watch out for the link and most importantly ensure you read the rules before joining. Might do some slight modifications based on observations in the last contest.


Thank you all for participating and the maturity.

Congratulations to the winner and all the participants and as well the organizer.

Bauer1:
I know this isn't the right section. But I don't know the right one and so I opted to post here since it seems to have a lot of traffic.

Yesterday, I returned to my room to find a rat dead in the middle of it. Ordinarily, I wouldn't be bothered. But this rat has clearly been bitten (pictures will be displayed below). I called a neighbour and we examined it. We were arguing if a snake could have done it, and if yes, why it didn't swallow it. In any case, we decided to leave it where it was to see if whatever killed it would return for it. I went to sleep at a friend's.

We returned this morning to find the dead rat gone. So, I called others to join me and we ransacked every nook and cranny of the room. We couldn't find anything threatening. But we did find another rat killed in much the same manner as the first (second picture).

It irks that I can't find what did this. I can't sleep in the room as it is. So please, experts in the house, help me to identify what it could be and what can be done.

Mods please help move to front page.

Don't stress yourself brother the rat was killed by "Aśirin" that rat with pointed nose(Roof rat) . Similar thing happened at my place of work.

I saw that small grass beside our office shaking vigorously in the night and when I move closer I saw asirin- Roof rat holding scorpion tight with it pointed nose, I was scared I was even thinking that it is other way round. Then not long enough after dragging it to another location I found the scorpion dead already but the asirin (roof rat) is gone.

I quickly called our guard attention to it, when he saw it he said it is asirin and before day break it will come back and pick it up to eat. To my surprise at the day break I couldn't fine anything there again. So relax it handwork of those pointed nose rat, and they hardly harm human being.

Nicolars:
Interested

My account was banned when I posted the link on USA students visa thread. Either drop your email or dm me I will send you the link so that you can register asap.

Kaybee7000:
Lolz u got my point comrade!!! People just dey cool cos of the Bleep up from the contest.This is contest and shows ur strength and weakness ,never and ever doubt urself but rather put more strength, we shall get there soon inshallah



To me,I have learnt a lot with diff comp have been participating!!!

That's exactly the benefit of this type of contest, it make u learn a lot. You see when people say trading is marathon not a sprint.

This is one practical example of it for me. In my other account am trading I was doing well because I didn't let any form of external pressure influence my decisions and leisurely trading profitably without issue, but this contest is amount to sprint where we are trying to outsmart one another jettisoning our winning strategies along the way thru impatient.

Infact, if I can't seems to hold my self even in such intense pressure in subsequent contest, I will begin to automate my strategy to tune of like 90% so that I can filter out as much emotion or external pressure as possible. In the word of Jim Simon a complete "MODEL Driven" nobody walks in and say Ehh let buy IBM or this stock but what the model says lol. We will surely get there God willing.

The Department of Computer Science at the University of San Francisco is hosting a virtual information session this next Tuesday, January 18th at 6PM (PST). Attendees will have an opportunity to ask questions, interact with program faculty, and all attendees will receive an application fee waiver. If you are interested and available to join us, please RSVP here. I hope to see you Tuesday!

The application deadlines for our MS in Computer Science program are January 15th or March 1st.

Kaybee7000:
See how everywhere cool!! Lolz Hope it is not whah am thinking ?

It might be what you're thinking my brother. I have been noticing this since morning, this is unusual of this forum. I was banned since two days ago by spam bot just release me this afternoon.

e be like say this competition has dampen the morale here but this is learning time because we learn more when we made mistakes or things are rough. My people let brace up this year we are getting to 400k each in prop firm managed account with FTMO insha Allah.

Englishisamust:
Guys please help me on this

Login first into your ftmo account with your credentials then go to fxblue and connect it.

infofirst:
Based on several suggestions, I have modified the rules , Kindly read the rules again.
We will still use the ftmo trial as it will help us track the Daily DD rule. If there is anyone with existing ftmo trial account, You can easily open another one with a different email. We need the fxblue metrix to help us ensure no one is trying to run more than one account, it will also help us to track the ranking of traders among others, basically both fxblue and ftmo metrix will compliment each other and ease the tasks for me. Every one is able to see who is who in ranking with fxblue, I am able to confirm the daily DD with ftmo metrix and all that.
I have reduced the target to 5% and the contest will run for 14days. There will be only one phase.
All non Fta monikers have been disqualified.
All the best to us all.

This is fair enough but why not run full 14 days with highest percentage gain WINs provided PnL - Balance at the end is ATLEAST 5% target.

LucaB:
How can I link fxblue to ftmo free trial guys??

Copy your ftmo credentials and login into fxblue and click on account sync then put your ftmo log in and password there.

Shikena

Elliotwaveforec:
In that case, raise it to 0.3; 170 pips can be achieved in 14 days.

You don't get it. You can open 0.1 lot x 5 = 0.5 lot at any given moment so the pip target is 100 pips not 500.

samfelly:
Comrade, something is telling me you go do all of us strong thing for here. I dey suspect you. You don sharpened the 2 edges of your cutlass. You wan act Machete on us within 5 days

Lol... When a lot of Don are here, which chance do a learner like me have. I want to see how these will further improve my trading approach both strategy and psychological wise.

exmaysn12000:
In that case, no need for any 2nd phase again since phase 1 already produce a winner.

True, 0.1 lot cap prevents 1 hit wonder.

Yeah! but it will be difficult to achieve and if any, he/she should be given the accolades without further delays. My opinion though.

Piptocoin:
[color=indigo]Very true. I deliberately made it three phases in this example so that it will reflect the same thought process used to arrive at a decision if there were two phases or four or more. So I used three phases rather than the two being proposed here...to enhance the scope and understanding of the process.[/color]

Gotcha!

Piptocoin:
[color=indigo]hahahaha. This really got me laughing.

The simplest way I can break it down is to let you know we are talking about a competition - not 2 competitions. Even if we have three phases in that single competition it doesn't change the fact it is just one competition with three stages or phases. This means that the results of those three stages must be added to have a unified result.

If that unified or added result meets any of the competition rules then decision will be taken based on that rule.

For example, the rule in a hypothetical competition states that a trader will be disqualified if they lose 12% of their equity. The competition will be held in three stages or phases.

Stage 1 DD

Trader A — 6%
Trader B — 2%
Trader C — 5%


Stage 2 DD

Trader A — 2%
Trader B — 7%
Trader C — 3%

Stage 3 DD

Trader A — 3%
Trader B — 4%
Trader C — 1%

After the three stages of the competition have been completed spaning 3 weeks...that is 1 week for each stage...then the competition is decided like this:

Total Drawdown

Trader A — 11%
Trader B — 13%
Trader C — 9%

Guess who gets disqualified for breaking the 12% DD rule of the competition....yeah, trader B. Trader A narrowly escapes disqualification.

You see, the three stages are still one competition, not two competitions and the result gotten in each stage will have a huge impact on the fate of the trader when they are added or summed up to see if the flout or meet the competition rules. Hope you grab [/color]

Nice breakdown but you should have just limit it to two phases since that is scenario been propose here for the challenge.

Piptocoin:
[color=indigo]It is really simple. If we should go the two-phase route, then trader A will be disqualified having met the 10% DD disqualification criterion. This is because the phases are not independent of each other...rather, they are a unit — a competition broken down into halves, a technical continuation of the previous two-weeks so that decision is based on the summation of the statistics generated on the two two-weeks competition. I don't know whether you get my drift but I can give further clarification if needed.[/color]

You're right and that's good observation. As much the percentage gain for both phases are to be added do also should be done for DD.

exmaysn12000:
I disagree with this your caveat, this will encourage 1 hit wonder.

All traders should be mandated to continue in d second phase. Profit target for each phase should be what ftmo stated, which is 5% for 14 days. So both phase target should be 5%. Total of 10% a month.

So winner should have a minimum average of 5% for both stage, for example trader can have 2% in one phase and 8% in the second phase. Still an average of 5%

If we have more than 2 contestant with more than an average of 5%, the highest go home with d price.

Any trader with violation in the first stage is not qualified for the 2nd stage.

Fxblue is still important, it makes everything to be well organized in a page, compare to having to click each participant ftmo link, but the host can have all participants link for his own personal record

@infofirst

Lol take it easy brother. The whole purpose is to simulate the real challenge and not just for the fun of it while maintaining proper risk management. Some trader can hit the target in just one trade/day with killer lot.... I doff my hat for my boss here GabsonFX but not everyone can do that, and also the rule of Max lot of 0.1 and 5 orders @ a time we checkmate such "wonder" lol.

But if with such risk and trade management rules you can achieve 10% in 14days that is beyond luck but from well thought out strategy and consistent trader. And why wouldn't such trader be given the winner prize when the real objective is to attain that 10% within the 10 minimum days which happens to be highest now in prop firm if my memory serves me well, MFF and E8 have shorter days.