₦airaland Forum

Capitals:
closing trade, -2.85 loss, seeing contrary signs to my position. net prof. 61.

hmm, waited till I got off before selling. buying eurgbp, sl 0.7020, lot 0.02. will add another 0.02 if we get to 0.7250. lets see how it goes

Capitals:
Adding a eurjpy sell, sl 137.95, didnt reinvest profits yet cos I m late to the party, would have preferred 135.82. Tp 130.59

closing trade, -2.85 loss, seeing contrary signs to my position. net prof. 61.

naijababe:
Stalking Gbpjpy here.....................

Watching that as well, could confirm my bias on eurjpy

Capitals:
Brent hit tp, thats plus $63.40 on the initial $350. Here s what I have in mind, I ll divide this into two and reinvest it i my next two trades.
So far the first two trades have done well. (I can afford to lose the $63 without losing sleep and not at risk in the euro sell anymore cos B.E isset)

Adding a eurjpy sell, sl 137.95, didnt reinvest profits yet cos I m late to the party, would have preferred 135.82. Tp 130.59

watching this, if we dip straight down to it then I ll buy, if not could reconsider my position

mutik1977:
see my chart with crosschair for reference. if i ve known u will close earlier i would have close it at 1:1 instead of dis 160 pips loss. very huge loss for 150$ acct. Good job & unlucky me.

Don't be discouraged by my loss though. forex is very dangerous. imagine stopping me out why ur price was still below. Hmm d market is really a manipulated environment. This is pepperstone ecn.

but price didnt trade up to 63.00, how come it took out a sl at 63.15, also I indicated tp together with the sl. thats the thing with variable spread accounts. spread must have been over 15pts to stop you out with what I see on ur chart and mine. What you did is quite risky anyway, I wont advise you place trades because someone else feels its right.

Capitals:
from experience, there isn't any guarantee that they will hit tp, swing/long term trading is they way to go, especially if you run a small account. This is not a get rich quick scheme and losses go with territory

Brent hit tp, thats plus $63.40 on the initial $350. Here s what I have in mind, I ll divide this into two and reinvest it i my next two trades.
So far the first two trades have done well. (I can afford to lose the $63 without losing sleep and not at risk in the euro sell anymore cos B.E isset)

Shevychen2:
You are right bro. But it is also the way to trade even if you have a big account. Problem is how many people can be that patient? It is the best way to trade but many people have small accounts so instead of using micro lots in order to be able to accommodate a 250-300pips loss they will rather trade 5 minutes and 15 minutes with bigger lots because they nee to make tangible money every month.

Someone with a $300 account trading 0.02 lots on 3 pairs on at least the 4 hour charts with a good strategy has a higher chance of success than one with the same amount and trading 0.1 lots on 5 minutes charts. The latter will get frustrated and burn his account in a month or less. Always.

Take a look at Gold. Pull up a 5 minutes chart for this month even a one hour chart and see the nonsense going on and the massive number of trades you have to take with an average indicator based system. Pull up a 4 hour chart and compare. A 4 hour swing trader will be on one sell trade that will be at least in 500 pips profit now since the start of the month while the small time frame trader will be chasing 50-100 pips here and there and having either a very small net profit or a big drawdown.

People will learn from experience though.

You are so on point, It couldn't have been better said! People want to become millionaires overnight and it doesnt work that way, at least from my experience. But once a few millions come in, then it becomes easy to make more

mutik1977:
guy talk true abeg . my stop was hit exactly at 63.15. spread was 6-9 pips. i can show u de loss.

WILL U COUNT THIS AS GOOD TRADE?. YOU ADJUSTED YOUR STOP LOSS WHY MINE GOT BURNT . Swing trading is over rated jior am done with all this useless swing trading


thank God it was 0.01

like you run a variable spread account, mine is fixed at 10 pips, so irrespective of price volatility I pay 10 pts as spread. it reduces the degree to which my broker can manipulate prices. with a variable spread of 6-9, I bet there ll be times it ll get to 15 pips with volatility

Capitals:
sorry bro, as is obvious on my chart mine wasn't hit. the price on chart varies from broker to broker. the market did trade close to my sl, and fell short of it with abt 4 pips. here are the two trades. ought to take just one, took two cos this accnt is already doing good on profits.

from experience, there isn't any guarantee that they will hit tp, swing/long term trading is they way to go, especially if you run a small account. This is not a get rich quick scheme and losses go with territory

sorry bro, as is obvious on my chart mine wasn't hit. the price on chart varies from broker to broker. the market did trade close to my sl, and fell short of it with abt 4 pips. here are the two trades. ought to take just one, took two cos this accnt is already doing good on profits.

mutik1977:
guy talk true abeg . my stop was hit exactly at 63.15. spread was 6-9 pips. i can show u de loss.

WILL U COUNT THIS AS GOOD TRADE?. YOU ADJUSTED YOUR STOP LOSS WHY MINE GOT BURNT . Swing trading is over rated jior am done with all this useless swing trading


thank God it was 0.01

adjusting brent sell to break even, capital safe, balance still 350. two potential winners. watching to see how it goes, nothing is impossible

Capitals:
Adjusted sl to 63.15, lets see how it goes

Capitals:
eur buy doing good so far, bringing it to break even, and taking a sell on brent crude, lot 0.02, sl 63.78 tp 54.98

Adjusted sl to 63.15, lets see how it goes

Capitals:
this would be my first trade eur buy, lot size 0.02. Entry 1.1315, SL 1.1168, Tp 1.1611

eur buy doing good so far, bringing it to break even, and taking a sell on brent crude, lot 0.02, sl 63.78 tp 54.98

Capitals:
Looking at launching a campaign showing exactly how $350 can be turned to $3500 in 12 months, exact lot size, entry n exit points ...., strictly based on my wealth creation strategy and not short term income strategy. I hope it goes well. wish me luck. honestly, I dont know if It ll hit the target, but I m certain we ll end the period in profits. have a successful trading day

this would be my first trade eur buy, lot size 0.02. Entry 1.1315, SL 1.1168, Tp 1.1611

Capitals:
Moves like these rarely happen, so I doubt if any can build a career off of them, They are dangerous to your trading psych. especially if you were on the right side of things, cos one may be anticipating another move like this that may never happen till God knows when. honestly the max I got from the move was 800pts (preset tp) and I have been holding on to the sell since 9th jan. my broker disabled trade on the pair so I cant get my last trade off. After all said and done, thank God for His grace, the skill to trade successfully and the bit of luck today

Looking at launching a campaign showing exactly how $350 can be turned to $3500 in 12 months, exact lot size, entry n exit points ...., strictly based on my wealth creation strategy and not short term income strategy. I hope it goes well. wish me luck. honestly, I dont know if It ll hit the target, but I m certain we ll end the period in profits. have a successful trading day

benpuzzy:
let rake the brokers dry. "FX IS SWEET".

Moves like these rarely happen, so I doubt if any can build a career off of them, They are dangerous to your trading psych. especially if you were on the right side of things, cos one may be anticipating another move like this that may never happen till God knows when. honestly the max I got from the move was 800pts (preset tp) and I have been holding on to the sell since 9th jan. my broker disabled trade on the pair so I cant get my last trade off. After all said and done, thank God for His grace, the skill to trade successfully and the bit of luck today

benpuzzy:
Let it not be as if nobody benefited from that movement, just closed my GBPCHF short with +1973pips..."FX IS SWEET"

Feel you bro,

Owliver:
Some of the many chef testimonies from facebook :O

ridiculous, my broker not allowing me close my position. thank God I put a preset tp on all other position in the same pair and its been hit. but they wont let me close the attached at this price, been hitting close since. . . . Leaving them after this experience

Capitals:
Technical analysts, Is this a head and shoulders building up in Oil?.

Someone please ask them to hit my 2nd TP on this oil, before coming back down.

naijababe:
An inverted H/S but you have to wait for the neckline to breakout though for the signal to be valid

Thanks a lot , I m in early I guess. I just hope it proceeds as you suggested. Wish you more greens pts today

12ema:
Just my opinion and it's not gospel, but GU just completed a bearish formation. Please be careful. I myself am hoping for a long position but,

Already hit 1st TP on GU, lower low and I m off

Capitals:
Lower low in todays session and I m off.

Technical analysts, Is this a head and shoulders building up in Oil?.

Capitals:
2nd tp hit approaching third and just sold GBPJPY (I m light on the GBP sell, lets see how it goes)

Lower low in todays session and I m off.

Capitals:
Yeah, it s well my brother. Lost some combined 50+ pips on those calls. Its happens to me every once in a while, That why MM is advisable.

Was a very much profitable week in spite of that, my gratitude goes to God.

I intended making those two trades my last for the day, but saw an oppotunity to make something and couldn't resist. I dont quite like the trade even though its in profit now and already hit 1st TP. Why dont I like it you may ask?
Its cos I understand the vale of discipline in this business, and my pastor taught extensively on the force of discipline a while back. So even though I gain back in terms of lost pips, cant say same for my efforts at been more disciplined. Tired of typing, I feel like I have written an entire book already. Here's the chart of the trade for whoever wants to see. I like posting charts so it s clear that I m actually taking these trades and not just calling entries. (I know someone is watching, cos I was actively watching the thread for a long time without commenting on anyone's post)

2nd tp hit approaching third and just sold GBPJPY (I m light on the GBP sell, lets see how it goes)

Kashif:
Indiscipline is the bane of forex traders! Conquer it, and conquer the market. It is the most difficult obstacle to overcome. The reason why traders lose money is not the market; it is the traders themselves!

I struggled with emotion for years, but was determined to stamp my foot on it. I have come to realise that fewer is better. I would rather take on trade in a month with a 300 pip reward, than take 200 trades that would leave me bruised. For perenial losers, would it not have been cool if we had not taken a single trade since funding our accounts? I knew I was making progress when I started taking good trades too early. From there, I tweaked my timing, and things began to fall into shape. These days, I am fine with two to three trades in a week.

@Capitals, I can see you are a nak.ed (don't know why this word is censored) trader, and it means a lot! Kudos!

yeah, It really isnt the market but the traders themselves!. and nak.ed trader? guess you mean I don't use indicators
yep, they lag price and increase the risk (at least to me), but there lots o people doing good with it. And I totally agree 'I would rather take one trade in a month with a 300 pip reward, than take 200 trades that would leave me bruised'
As a matter of fact, if I were considering only One pair, I will be more than lucky if I had more than 4 trade set ups in an entire month.

Wish everyone more pips in the green

Kashif:
My analysis pointed to selling GBPAUD at that point instead, reason I cautioned. It is well......

Yeah, it s well my brother. Lost some combined 50+ pips on those calls. Its happens to me every once in a while, That why MM is advisable.

Was a very much profitable week in spite of that, my gratitude goes to God.

I intended making those two trades my last for the day, but saw an oppotunity to make something and couldn't resist. I dont quite like the trade even though its in profit now and already hit 1st TP. Why dont I like it you may ask?
Its cos I understand the vale of discipline in this business, and my pastor taught extensively on the force of discipline a while back. So even though I gain back in terms of lost pips, cant say same for my efforts at been more disciplined. Tired of typing, I feel like I have written an entire book already. Here's the chart of the trade for whoever wants to see. I like posting charts so it s clear that I m actually taking these trades and not just calling entries. (I know someone is watching, cos I was actively watching the thread for a long time without commenting on anyone's post)

Capitals:
Here is what I did whilst men slept, my pick or the day Sell AUDJPY (94.57) SL 94.84, 1st TP 100pts. I also bought GBPAUD

Both trades ended up lossing, wasn't ready to give back more from what I gained from the market this week. MM and knowing how to lose smartly are some ways of staying profitable from my experience. see ya ll next week

Capitals:
Letting go of GBPAUD early, but still holding on to AUDJPY

Traded my GBPAUD for EURAUD, the rest of the trading day ll be spent on observing these two trades. if they both loose, no new shots till next wk.

Capitals:
Here is what I did whilst men slept, my pick or the day Sell AUDJPY (94.57) SL 94.84, 1st TP 100pts. I also bought GBPAUD

Letting go of GBPAUD early, but still holding on to AUDJPY

Capitals:
2nd TP in view, from yestrdays NZDUSD, thank God for today

Here is what I did whilst men slept, my pick or the day Sell AUDJPY (94.57) SL 94.84, 1st TP 100pts. I also bought GBPAUD

Capitals:
didnt get filled on this, and we already have a higher high. Deleting my pending orders

2nd TP in view, from yestrdays NZDUSD, thank God for today