₦airaland Forum

KingPipmarshall:
Mff demo will deal with your emotions...

With time you will notice there is no difference between a demo and live account. What matters is knowing when to buy and sell.


To newbies, find a strategy, test it on demo to confirm its legit, then start making money on your live account. To make money here you need the right mindset (psychology) , which only the markets will teach you. A mentor will only guide you. How much you can make is determined by how much you are willing to let go(loss).

I don't really understand what is meant by "demo accounts do not mess with emotions" because so far I've suffered terrible mood swings since I started my trading career and I'm still demo trading.... (Maybe I'm just an outlier)

I think what makes any trader succeed is having more than the mindset of just making profits from the market but being passionate about trading because the lessons take time to learn and one can only learn them if one is passionate to learn them.

People give up along the way when the money doesn't come immediately as expected and there's nothing else pushing them to continue.

Enjoy your weekend.

charly20:
Pick any jpy pair of your choice and go short.

I'm shorting;
AJ, uj, cadjpy and NJ.

There are still short opportunities in EJ, chfjpy and GJ but I have selected and I'll stick with those. There's no obstacle for the bears since we only have a long trail of green candles prior, the red candles should be of equal magnitude.

Trade safe.

So far on the trade calls made, I have a cumulative 270+ pips in the bag and the drop has only started.

Looking forward to more price crash on them all.

samfelly:
In just 2 days! Comrade you amaze me . I am happy for you. Now you have been promoted from Junior League . Donsheddy, am I speaking for you?

Comrade abeg,
I dey try make sure say I no loose guard . I'm comparing my performance in the contest and personally.

Personally, I fit run am but for contest, I dey too get wahala

MONEY247:
I missed that sweet AJ drop....

All thanks to sleep

I'm swinging the living pips out of them all .




Today on usoil and nas100

Like I said I will be fluid.
Took my own evaluation to be sure where the problem was coming from; if I was a shitty trader or I was just not having it in the contests.

The year's mission is to be able to manage the account and that is what I'm onto.

It will be micro lots till the minimum days is completed.

Pick any jpy pair of your choice and go short.

I'm shorting;
AJ, uj, cadjpy and NJ.

There are still short opportunities in EJ, chfjpy and GJ but I have selected and I'll stick with those. There's no obstacle for the bears since we only have a long trail of green candles prior, the red candles should be of equal magnitude.

Trade safe.

charly20:
Price came around but I didn't follow through with execution. In fact, I had closed my pending orders as at yesterday..... Sadly.

It is advisable to close any long positions on JPYs.

I think those pairs are about to take a long dip.

RUGGEDWEAVER:
How far boss check gy and cj respectively.

Price came around but I didn't follow through with execution. In fact, I had closed my pending orders as at yesterday..... Sadly.

kozmicity:
Good morning my ogas

Alas, today i couldn't check on my analysis. Anyone on GJ&GU??

Gj left my previous price of interest@ 160.220 without picking my order.

I'm looking at 160.620 now. Let's see what happens there.


Same thing with cadjpy.

To the ones who made it this time, congratulations!
Una face show, shoe still shine.

karkinase:
Gee calm down.. . As u Dey plot na so others Dey plot too..Btc trading on Saturday still Dey

I don't think they allow that.
I think I tried once.

Smith530:
I don't think those pairs are ripe yet because it looks like a continuation.

All jpy pairs right now are in a monthly resistance/supply area so I'm looking out for failed swings.


We could be having a "6 and 9" situation so caution. If I take any long position, I'll exit at 163 and 99 for Gj and cadjpy respectively. (Of course if the setups remain valid for entries)

Cheers

Risk accordingly.

Cadjpy and GJ.

It's generally in a bearish perspective but 300 pips looks like a good reward for a 50 pip risk for gj and likely 200 for cad. Let's see.


Edit: BTW, the call is to go long.

DestinyDjohn:
Comrade sometimes the cruise wey they this thread go make you forget so many sorrows.....

I kid you not, my chief

Make we learners sha improve so we fit dey arrange clashes like this

Is it just me hitting the report button?

karkinase:
GOD im screwed Just got this mail , tot MFF daily loss is on balance, didn’t know it was on equity.
@infofirst @Brightfuture48
MT4 acct balance still $10114.61

Quite a misfortune, chief.
I remember when I pitched this concern sometime last year. I remember I had this talk with @feshizzy and it seemed we were not on the same page then but I guess everyone is getting to that page now.

Take care. The market is being brutal this period

Here is an idea of what I'm trying to get at;
10k account
Open trade : 1% risk
target return (based on opportunity presented):
8%

First price impulse moves equity from 10k to 10,500 (i.e 5% gain),

Market makes a retracement for second impulse sending equity from 10,500 to 10,000 (I.e 5% DD)

Account lost

This is what I mean. I'm trying to understand if that is how the system works so I may plan accordingly if I'm to consider the option

GBP looks so bullish this week.

haryodehjia:
No really but I get to understand that the longer I allow floating profit the more I keep losing...

100 percent.
Since I learned of prop trading, I've been thinking of how to manage the system.

But I definitely will.

haryodehjia:
From my my own view pro firms are not encouraging swing trading... Also as it goes for the contest swing trading won't give me an edge over the aggressive traders we have in the contest sir. as a matter of fact I will soon switch to scalping which I feel will help especially in the contest. Maximum tp 5pips

5 pips tp? Must have been one hell of a whooping for you to choose such "maximum target"

WAGMI

femora007:
Free retry mode

.
I had to ask because I love being brutal with the truth especially when it concerns me. I asked another swing trader in a different platform if he swings it with props, he said "No. With props I daytrade or I leave a trade 3 days max and close. No over-the-weekend trades"

And it dawned on me. . I have to find setups for each week and I'll have to have a good number of pairs on the watchlist in order to execute any available complete setup for the following week.


I wish you luck, chief.
Time is everything.

femora007:
As a swing trader in a contest like this, u just have to stick with your swing style and wait for that one or two trades that will give u an edge in one particular contest because swing don't happen every week. The result u get this week or last week shouldn't discourage or tempt u to change from swing.

It might be the week u actually decide to do day trading that swing will happen and u might miss it, from my personal experience I say this. It has happened to me before

Excellent. Just one of the persons whose opinion I've waited to hear.

How have you fared in your evaluation?

VlamesIffect:
My boss..are you trading because of prop firms or trading contests or are you trading for yourself....to achieve results & be the best you can be.....i get your perspective but I think at the end it all comes down to your personal growth....

I'm trading for me. But I trade with a plan and it doesn't require me starting out being underfunded.

Prop firm trading will definitely be a big step and I should fine tune myself in line with my goals. Contest no too concern me sha.

abham:
Did you get it from forexbooks on telegram, ICT’s videos.

Can't remember anymore. Think it was from a Facebook group or somewhere.

I don forget, chief

VlamesIffect:
I am not jn a position to advice you...i reasoned what bigbasho said a while back about the markt doin the samething ova and ova again. Maybe u shld take sometime off..and just observe 4rm the sidelines...how the market makes new highs or new lows & you'll observe something.....

And ur last statement about lasting long on an account... condition your trades not to pass 1% par trade... imagine using 0.01 lot on $1000 you will win & lose some....but that account will last for a while......

The bolded is true as I can attest to it but I speak with regards to prop accounts.

One is not given the liberty to wait out his trade setup for a single pair till completion. But, maybe it can be resolved by having several pairs on the lookout and execute whichever one is ready for trading at the given evaluation period.

And of course, with proper RM.

DestinyDjohn:
I'm also a swing trader and it's really difficult competing with day traders and scalpers in competitions like this ,I think the least one can do is to re- strategize,maybe to a day trader.. Though it won't be easy because I tried Day trading this week Omo my mt4 see Red nation everywhere...... we keep moving regardless

This is what happened to me this week. Omo, the thing dey depressing sha....

It's the transitioning.

abham:
I think prop firm don’t favour swing traders in a way. Mostly scalpers and day traders.
.
.
.
Go to ICT page and search this videos
1). ICT Forex The Weekly Bias Excellence In Short Term Trading

2) ICT Forex Time & Price Theory.

I hope these helps.

Yes. I have ICT's 12 months mentorship videos somewhere in my drive. I should look these up too. Thank you.

DannyFX2638:
na to port go join Samfelly

So that I go village after 2 months of trading?

I no fancy scalping. If day trading would help achieve prop trading, I would bend.

[quote author=Immortal99 post=111385224][/quote]I don't think I've ever declared myself a scalper or daytrader.

After the thorough whooping I got this week, in-house violence is exactly what I need to cool off


Side note: if there is any swing trader in the contest, please come around, let's see if we can talk about our problems and see if we can fix it.

1.Is it psychological or we just don't understand yet how to trade?

2. i think once I had asked @Gabs.o.nfx how he managed it but I don't think I got anything solid. Maybe his years of experience is a huge factor to his success in prop trading.

3. I'd like to know if fellow swing traders here feel "rushed" while trading the account. Like having "a flame up your a$$" while trading.

4. From the picture attached from the mff webpage, the most profitable are day traders. If this is the case,it would serve us good as swing traders to be "more flexible" for us to succeed.

At the close of last week's trading session and suffering heavy losses which dealt with me mentally,I closed my Mt4 app but not without deleting the account so I won't trade it in the coming week.

I'm going to undergo self-evaluation and see how to re-strategize,this time being more malleable.

The goal is not to win an account but to last long in my trading career.

It's the weekend, let's discuss @everyone.

Jameselias:
Who are you

That should be @greatestmanever our "Audusd ambassador".

Quite sad he deactivated.

karkinase:
My man as it stands now I’m a scalp swing trader, cos this market no get joy o

It's not easy... I don't think I've been this frustrated

We keep going... We've already gone in too deep, no going back now