₦airaland Forum

infofirst:
I quite agree with your gj analysis except that 152. 3*** is where I am looking to sell and 142 as profit.
Whats your gu likely sell point, mine is 1.348**

I'm looking at anywhere around 1.34 figure too. A round number most definitely.

This week was not the week

GJ although there was delay as I expected 149.223 to be broken at the end of last month, it is yet broken. Selling from this current area seems too risky (looks too much like discount for longs than premium price for shorts). Since this week was for accumulation, I'll be anticipating early week buyers next week hopefully before Wednesday (mostly preferred price to sell from remains 152.850).

Same scenario with USDCAD and GU.

Shorting GJ from 152 to 137 go sweet die

@GabsonFx, maybe I didn't ask my question properly but I would really love for you to give me (us) some pointers on how you still pull in profits even when we have lazy market conditions as there is countdown to beat. (I'm currently running a personal assessment on propfirms. I already passed FTMO's free trial but I need to replicate my result twice or more to agree that I'm confident enough)

January is the goal!
Have a lovely weekend, everyone!

GreatestManEver:
How NFP go be nah

The chart data is conflicting. Cable and fibre are indicating setups for short term buys (which could be influenced by NFP) But $index still indicates dollar strength.

Maybe the Omicron variant saga could be a fine catalyst for short term dollar sell off.

But for my pairs, cable and loonie, I expect the short term buyers to come in today for cable and I expect to see drop in UCAD price. (To discount at least )

I'm still waiting only I've added new information received this week from the market.( This is what makes the market both boring and interesting for me )

I may not be taking a trade this week as one of my requirements involves that the previous week's low (PWL) remains intact by Friday. Already I have confirmation of a new week high for USDCAD, new week lows for GU and GJ, I still have to wait for Friday( lesson gotten from last week's loss).

@Mr.GabsonFx, would you be kind enough to show me (us) the trick you use to beat prop firm's deadlines as patience is still my watch word but there is still a count down to beat.

A lad is serious about the next phase of his life.

From small encouragement, everything became sour like this?

Mr. Tony142, this is definitely not the first time you're doing this and it's highly immature of you.

It's really sad to imagine grown a** men bickering and hurting each other on a FACELESS FORUM.
Aren't we supposed to help each other become the best of ourselves in this business?

Tueh!

Micielito:
Happy New Month Traders.

Started my journey into the TA world recently. Hope to learn from the bosses here. Will be posting chart. A learner

@Saintfaculty, I love those boxes.
@charly20, I love the way you analyse also

Thank you.
It's an honor.

clems88:
I wan to learn this Forex o. I open a live account and funded with 30$ but I don't even know how to place order . Watched some useless utube videos but they aren't explaining any thing

Accept that it will cost you time, be ready to pay the price (time) then the journey becomes an interesting one.

Be true to yourself.
If you're lacking in these, I don't think sleeping on YouTube, having hundreds of mentors, reading every trading course there is, etc would yield any good fruit.


I hope I made sense sha

samfelly:
The ICT stuff, is it in PDF? Can you help me with links?

There are mostly videos (plenty of 'em). I'll gladly share them.

A PM, maybe?

zonall:
....let us shake the table small....

.....are Supply & Demand Zones AND Support & Resistance Zones fixed or dynamic?

...please let us discuss small nah....we might learn a thing or two from each other.

.....@GabsonFX @infofirst @femora007 @Donsheddy @Donvic4u @fame12k @Immortal99 @elliotwaveforec @MONEY247 @Gasive @Piptocoin @BrightFuture48 @Fxwarrior @ncpat @samfelly @Kaesyrn @GreatestManEver @Romklef @Succhris @yetown @Ogashman @Nuel101 @haryodehjia @theyoungmaster @ekesoft @successsam121 @Copyjoe @charly20 @jammer777 @abham @Tony142 @Brooktrader @XAUtrader @boom99

@everyothertraderhere....

I think there are both dynamic. I believe they may only look fixed based on time frames. Based on my understanding, there are both areas of accumulated orders (S/R for "retail" and supply and demand (order blocks) for "big players" ).

Accumulated orders in monthly timeframe will take longer time to run through (turtle soup) thereby making it(S/R) look fixed. In smaller time-frames, the accumulated orders (s/r) take shorter time to be purged.

NB: when there is a liquidity purge, supply and demand zone orders get filled.

I don't know if I made my point sha....
I'd love to read other opinions.

Tony142:
U are lucky, nice one


Wait, u mentioned Time and Price, are u a gann student?

Neh, I'm done looking at strategies. I'm looking to improve on what I already know.

Tony142:
ICT has more edge than retail trading, but the problem is that ICT is 2 times harder than retail trading, I tried ICT but I later run

ICT takes time. My first try with ICT in July saw me burn $80 in my demo account because I was implementing day trading and scalping technique (me wey be swing trader)of the same ICT SMC. I didn't know where to exit, everything just dey scattered. So I trimmed it to suit my style and well, it's been going fine.


Understanding of Time and price does it for me.

Donvic4u:
Lol... forget packaging

ICT na another mentor chopping money

Of course, na where you dey work you go chop na.

ICT helped me understand the market wella sha but it is just another strategy. One needs to trim it to fit one's style.

charly20:
Meanwhile my USDCAD is doing what she does best- setting herself up for another ride till the next few weeks. We are getting ready for the bear party. We just need to wait make the week finish first so that e go be "setup complete" according to my trading system.

I'll share my chart during the weekend.
Happy pipping.

Ok... The week closed with the setup still signalling for more bullish run. And honestly if I take my trades next week, TP is going to be really subjective because I don't see any obstacle till 1.46 which would be a lot of weeks.

Took two losses last week. One from GJ on a TP or SL principle and one from USDCAD due to miscalculated moves

My plan for next week.
For GJ, I don't see any obstacles till 137 ish
For GU, I will close at 1.300
For USDCAD, as much as we can hold in the account.

A big congratulations to the respectable men who got the prize.

We'll do better next time.
Better days are coming

GabsonFX:
I've been busy on the wheel since the past 24hrs, now tired.

Last Monday's (22nd Nov) withdrawal landed yesterday as expected, they never fail.

Now, I'm only waiting for 6th December for next withdrawal (Attached)

FTMO 4 Life!

I carry everything beg you, don't stop winning abeg

Next year will be our year of prop firms.

Believe that


Meanwhile my USDCAD is doing what she does best- setting herself up for another ride till the next few weeks. We are getting ready for the bear party. We just need to wait make the week finish first so that e go be "setup complete" according to my trading system.

I'll share my chart during the weekend.
Happy pipping.

Tony142:
Type Of Strategies In Forex



After studying the forex market for some years, I discovered that there are 8 primary types of strategy that exist, any other strategies falls into one of this 8 type of strategies



The 8 Type Of Forex Strategies Are:



1. Indicator Strategy: This are strategies that uses indicator to determine the direction price may likely go to, some of the indicators traders in this categories uses are, RSI, stochastic oscillator, MACD, bollinger band, SMA, Awesome oscillator, Parabolic Sar, Fractal e.t.c , from my observation I discovered that 80% of traders who uses this strategy are newbie, since they are not experience yet to analyze the market probably, so they like using indicator that will tell them where price will go without them doing too many analysis, this set of traders believe that those indicator will one day print the money they will use to build their mansion and buy their private jet that they will use fo travel to the sun for holidays


2. . Price Action Strategy : This set of traders trade using support, resistance, trendline, fibonacci, chart patterns and candlestick patterns e.t.c i discovered that 80% of traders in this categories are experience traders who have been in the game for some years, they believe that price action is king, but we are still yet to know the kingdoms which those king are rulling, is it possible to have 2 kings in 1 kingdom? because the last time I checked the kings are the market makers , so I guess price action traders are fake kings


3. Trend Following Strategy : This set of traders believe that the trend is their friend, so they follow the trend to whatever direction it goes, if the trend goes to eat, they too will follow it to eat, if the trend goes to bath, they too will follow it to bath, and if the trend enters into fire, their account balance will enter into fire too and get blow


4. Institutional Trading Strategy: this set of traders are called ICT traders or SMC traders, they believe that the market is been manipulated by the market makers, banks, institutions e.t.c so since they can not beat the market makers they decide to join them instead of fighting against them, so this set of traders trade in a way that is similar to how the market makers trade, some of the things they look out for are order block, rejection block, breaker block, mitigation block, vacuum block, liquidity pool, liquidity void, stop hunt, turtle soup, imbalance, faire value, premium, break of market structure, return to OB, Wycklof e.t.c despite trading like the banks, 95% of them still blow their account like it is their birth right



5. Fundamental Strategy: This set of traders believe that news is what move the market, so they only trade during news period like speech, event, NFP e.t.c well, we do not really know if news is what move the market but we know that majority of their live account equity have been moved or donated to their broker account



6. Sentimental Strategy : This set of traders believe that demand and supply is what move the market, so they are interested in knowing the numbers of buyers and sellers that is currently in the market and the volume of currency they want to buy or sell in order to predict weather price will rise or fall, is sentimental strategy the holy grail of Forex? Well, I will leave that question for the forex gods and market makers to answer



7. Naked Chart Strategy: This set of traders do not use anything except naked chart, their chart is always naked without wearing pants only God knows what they are looking at in an empty and naked chart without using any technical tools, the only tools they use is their eyes and brain, anyway, I belong to this categories of traders



8. Jack Of All Trade Strategy: This set of traders combines like 2 or 3 of the above strategies to form their own strategy, for example they may combine indicators and price action together to form their strategy, despite combining strategies together over 95% of them still keep depositing
without withdrawing




Which of the listed group above do u belong
to?

Lol.... I think I fall somewhere between 2,3 and 4

jammer777:
I was even expecting the long drive around midweek.
But .21**, dat na crash bro. I’m looking out for 80 to 100 pips though.

This month alone, it moved from .22** to . 27** and I have been trading from that price till now. It's a cycle.

Same for my dearest GJ, next year may see us trading GJ at 130...

PS: I hardly take any trades less than 200 pips


Time and price

charly20:
You may never understand how much motivation this is, sir.

Congratulations!

USDCAD has already made a move I expected would take the whole week to achieve. Would the week close bearish?Let's find out.

If it does, we may be heading to .21** by december.

GabsonFX:
Thanks boss, me no dey gree with these props o, lol........I don move am to US$7,003.86....Now, I can stop trading until next withdrawal date, 6th Dec

You may never understand how much motivation this is, sir.

Congratulations!

jammer777:
Testing microphone, this one na Harry Potter’s yellow box...

Kai...

Oga saintfaculty don get apprentice

samfelly:
Yeah, bro. My phone is totally challenging me and this Forex journey right now. The screen is partially bad. So, activities with its use, reduced.

Thanks, once again

One love

saintfaculty:
Let me quickly add, these boxes I draw on my charts are just supply-demand areas and sometimes Institutional trading areas.... On their own, they are not effective, but once we find a price action pattern that conforms with the pyschology of traders within the box, there we have a perfect trade setup...
For Instance, on the usdjpy trade last week ... We had an M pattern within the box before the drop.

I will advice those struggling in this business to try and focus on 1 or 2 assets.... Sometimes I am tempted to checkout other pairs, but I majorly trade UJ, GU. This has helped me study/learn how those 2 pairs behaves, the levels/area/patterns they respect.
The market always does the same thing... If you focus on a particular asset for too long, you will be able to identify and leverage on its repeatable patterns. All the best guyz

This is true. I made an interesting discovery since I focused on 3 pairs.

Once again, good work sir!

Time and price

@forexislife, @samfelly, @djwalata
it's been a while. Hope say una dey alright o?

Donsheddy:
Exactly I'm guilty

Boss, we need you to put yourself together and bring the "trophy" home . At least make e be say the prop firm ministry start to dey grow fess this year before we go join una next year

OriginalSatine:
Many trade results has been poor of recent even from the competition. Is this venture getting harder or what?

I shall speak for myself only. I don't think the venture is any harder than it is already. In the trials, I miscalculated and I paid for it.

Maybe the pressure of having to "out do a fellow competitor " is what messes with our psychology a lot. It is still within the same time period of the trials that I have made +800 pips worth of gains and counting in my personal demo account.
And this to me is maybe because there are no deadlines or targets to be met.

However, I still like the idea of having to meet deadlines because we'll be needing that when we'll be taking the prop firm route.


And I'll still consider that a lot of us are still trying to have a clear understanding of how the lady (market) operates.


Time and price

CopyJoe:
I am happy for you bro.

Really happy.

We will definitely succeed in this business.

Boss, I'm happy with the level of progress so far.
We are getting somewhere

According to market cycles, I expect GJ, USDCAD and GU to complete their last weekly bullish move next week before we wear our bear dancing shoes.


It's going to be a red december

infofirst:
Next week is Thanksgiving Holiday week in the USA. Thursday and Friday might not have much show. We never can tell thou

I agree. Most of the dance happens during Tuesday and Wednesday though

jammer777:
Those boxes are like insider info aswear. Study the previous charts, God might just open your eyes to see through.

I admire his finesse.
He trades SMC/institutional order flow. He is enjoying the dividends.

Great work Mr. Saintfaculty

What am I seeing on this sweet motivation (live) page?

Month 5 is almost coming to a close....

I have broken even. Looking to close the year with +ve gains.

Life of a newbie.... Phew

lynx200:
Hi people,

Has anybody noticed Gold lately? It's as if the buyers and sellers are really struggling with each other. And one other thing, this week Gold has ranged within a tight spot. What do you think my fellow traders.

I think gold is about to take a big dip

GabsonFX:
The $50K funding challenge, it seems tough.
I doubt we will have a winner this 2nd time.

A third time?

Maybe 3rd time is the charm as they say.

But wait o... We still have next week na. Oga donsheddy do something o

Donsheddy:
You no go like make we end the contest like this

Boss, we never dey end anything yet o .

"I'm expecting something huuuge next week"

The 'aha' moment is an interesting point in the curve.

We have one week left on the trials. Mr. Donsheddy and Mr femora, una well-done o.
I wouldn't be less motivated if I no make am for the list sha.

@maprinze, congratulations sir! Na wetin go make us dey smile we wan dey hear now


I think I just had my 'aha' moment. The next few weeks will solidify my suspicion.

Time and price

CopyJoe:
Nice one boss.

I know say one day I go be like you.

Abeg,no whine me boss

charly20:
Once upon a time, I said I liked the idea of $index approaching 95/96.

We may not be far from these prices. Tomorrow will be exciting

We just made it to the 95 price.


Time and price

Now I understand why we have to take breaks in between losses.

school exams has kept me from sharing my thoughts on charts. Now I just check my running trades and continue with the books.

I'm still confident in my abilities.
I'm recovering from -$80..... Phew
Discipline is the holy grail abeg

And I'm finally improving in position scaling.