₦airaland Forum

charly20:
USDCHF is preparing for re-entry. The markup explains itself, I would enter at the lower high ( 2nd shoulder, Qml, 4 hr gap) risking 30 pips.


So far only 3 pairs for the week; USDCHF, USDCAD and GBPJPY

30 pips for each (5% of equity balance).

My confirmation for GJ is the double bottom on M30

USDCAD has not given any confirmation to short. Gj on the other hand seems to be re-accumulating.

I think this is the hardest and most boring part of this business; waiting

USDCHF is preparing for re-entry. The markup explains itself, I would enter at the lower high ( 2nd shoulder, Qml, 4 hr gap) risking 30 pips.


So far only 3 pairs for the week; USDCHF, USDCAD and GBPJPY

30 pips for each (5% of equity balance).

My confirmation for GJ is the double bottom on M30

Crixxx:
Who else is looking at USDCHF. What's your thoughts on it

Well I am... I believe she is doin the last phase of compression. I would be shorting with clear confirmation.

CopyJoe:
Enjoy your buy.

Lol.... I have not entered yet. I needed to see this current candle, and now I can buy ... I can't be catching a falling knife.

Price is gradually getting to my POI for GJ. The reasons for which I'm going long are;
1. That price (149.9*) is OTE
2. There is a head and shoulders retest
3. There was a new demand zone formed when price left there after forming the inverse HNS
4. That is a price inefficiency from daily TF (gap fill)

I would risk about 20 pips to 30 pips for it. Target as I have said should be around 154.6*

PS: don't catch a falling knife

Goodluck

This is why I don't place limit orders anymore, USDCAD just blew through my marked out price, I'm looking yet for signal to go short. USDCHF dances around my POI but no confirmation to enter.

Mr. Gabson only said his thought out loud, let's still be focused. We would never know who he has in mind. Why don't we focus on building ourselves first, that way if you're not called into the circle, you wouldn't still be lost.


I come in peace!

dennison4luv:
Honestly ,I don't like trading demo account, I like going straight to live account where I will fill the heat of forex trade. When i am trading demo account I don't take it serious, sometimes I don't even open the chat, I do forget that I opened at position when
I am trading demo account. The tension, heart beat , the anxiety, the emotions and seriousness that goes with live account is not same with demo account.
As a beginner don't tell yourself that you will cut your yout trade when is going against you,,,please and please always put your stoploss as you place a trade..,, the thinking that a negative trade will bounce back to profit will make you to blow your account. Don't worry when stoploss close your trade and that same pair bounce back to profit immediately.
When you are on profit your village people will be whispering to your ears to increase your lot size, don't try it just continue with your 0.01

The bolded sounds cliché but I don't know if it's just me but the current demo I'm using to prep for my live account, I have been treating and feeling it like it is a live account.

I believe if you don't master certain concepts and also learn a little bit to manage emotions (cause I understand still that the feeling is different; demo and live), you'd have to blow many live accounts to learn those.

Even sef, I know I may not have extra funds laying around to refund my account after blowing it hence my extreme commitment in my demo.


My one pip sha.

Usdchf is coming back for re-entry and USDCAD is working her way up to the level marked out as I write.

These big boys don manipulate EU wetin no good... She is struggling to stay above . 17065. I'll let her be till conditions are better. Gj is equally taking her time

The levels marked are my Points of interest.

Mehn, seeing all that my fxbook data gives me hope.


It costs time abeg

CopyJoe:
GJ, Gold and GU are your go to currency pairs.

Especially, GJ and Gold.

450% return. Crazyyyyyyy.

Well done, boss.

How I love gold and GJ. If I drop all my trading pairs, never these two.

VlamesIffect:
Bro I WEAK.....

With the schematics, I had expected a bullish move on the USD even from $index but the manipulation was way overboard. EU sha has done double bottom, but I want better market sentiments from intra day before I join the bull party again. As for USDCHF, I dey look to see London session's stop hunts around that my yellow line before I join the bears. USDCAD is setting up nicely and GBPJPY.

We live to fight another day.

charly20:
I didn't post my setup before I took my usdchf and EURUSD trades but tomorrow may give another opportunity for re-entry.
Considering my 5% per week MM rule, I have only an exposed risk of 3.6% leaving me with free 1.4% from last week and a fresh 5% for this week.

For tomorrow's trade, I do not want to see price close above the upper yellow line even with news impact. If that happens, I'll use the remaining 1.4% to add another position for usdchf and maybe Eurusd if the money is properly managed.

My "conservativeness" with my equity is because GBPJPY has acted faster than I imagined and I expect USDCAD to do as I have marked up. I don't like the idea of leaving more than 10% to the market in two weeks.

The USDCAD and GBPJPY would be my last trades till we have reached the promised land for all four pairs.

If usdchf closes above the yellow line and EURUSD closes below 1.17491, I'll close the trades and wait for better market conditions.

EU is closing on a bad sentiment and I would be closing my position. Usdchf on the other hand, has a structure I do no want to see( making intra day break of structure) so I would also be closing with 90+ pips (my cut being 60 pips which is BE in it's sense)

Tomorrow,I'll look again. Maybe CAD and GBP news would bring the other ladies to the party.

(See attached)


Modified;
The purple line is a double bottom and the white arrow shows a break of intra day previous high. On the daily, we have a healthy bullish candle.

VlamesIffect:
FOREX FOREX FOREX.

WITH BAD RETAIL SALES DATA, DOLLAR STILL BUYING....NO BE JUJU BE THAT?

Lol... Bigger institutional traders wan kill small scale institutional traders with big scale manipulation

charly20:
Maybe because she's preparing to go north today .



According to the schematics from my end tho.

If I traded GU I would go long @cmp to .407**

Modified
And if I'm being conservative with my risk, I'd place a buystop order at today's open and my SL would be at today's close or today's low (from the daily candle)



But that's my opinion

GabsonFX:
Because
1. GU is damn slow, with those moves, I expected bigger pips like gold or GJ, but recorded only 25pips.

2. GJ moved like 4 bearish candles and gave the good pips, but just a bullish candle can wipe my profits, so I thought it was enough.

3. Finally, this is because I'm just few pips away to making my monthly goal, so I needed the move with my hope on gold to help achieve that. So I closed both but doubled my position on gold.

CopyJoe:
I thought I was the only that GU frustrates.

It's too damn slow.

Maybe because she's preparing to go north today .



According to the schematics from my end tho.

VlamesIffect:
Bro i pray you make it to the top.....i feel your effort to be better trader....

Amen boss. I hope someday I'd be like the two individuals I respect so much in this community @infofirst and @gabsonfx; being a source of inspiration and encouragement to fellow traders not because I'm hiding behind my demo account but because I've also experienced the tensions of live trading and received my own whooping from the charts.

Cheers!

charly20:
After losing 16% of my equity (for my liveaccprep account),I tried to understand why I lost that large and here is what I understood;
1. Having a limited amount of pairs on the watchlist does not automatically mean no overtrading.

2. I traded with no objective amount to be risked per week

So this week, I decided to amend that and I decided to;

1. Pick only two pairs out of the five on my watchlist for every week.
2. I will risk at most 5%(i.e $10) every week.

The above simply means I have to select only high probability trades for every week. So for this week, I picked two ladies; EURUSD and USDCHF and although the setup played out today I shall hold them till they are exhausted as I'm a swing trader.
For next week, I have only USDCAD as high probability.
The plan to maximize my profit in this week's two trades are to add maximum of 3 positions on retracements.

I regret not sharing pictures for these setups as each time I post, the pictures hardly come out clearly on this forum, I wonder how Mr. Gabson does it

Have a wonderful weekend, y'all

I didn't post my setup before I took my usdchf and EURUSD trades but tomorrow may give another opportunity for re-entry.
Considering my 5% per week MM rule, I have only an exposed risk of 3.6% leaving me with free 1.4% from last week and a fresh 5% for this week.

For tomorrow's trade, I do not want to see price close above the upper yellow line even with news impact. If that happens, I'll use the remaining 1.4% to add another position for usdchf and maybe Eurusd if the money is properly managed.

My "conservativeness" with my equity is because GBPJPY has acted faster than I imagined and I expect USDCAD to do as I have marked up. I don't like the idea of leaving more than 10% to the market in two weeks.

The USDCAD and GBPJPY would be my last trades till we have reached the promised land for all four pairs.

If usdchf closes above the yellow line and EURUSD closes below 1.17491, I'll close the trades and wait for better market conditions.

VlamesIffect:
I feel like say the only news wey go move this week na NZD and maybe AUD the rest na Jonz......
I learn some news trading from lovebignyansh before the boss go MIA..... Last week loss but this week i dey fresh & ready thanks to feshizzy, netvaluefx, charly20 una give me better motivation....

I know say one day i go use FX money buy house for banana.

Ah ah boss, na community be this oh , wetin we dey do here if not to help each other.

Good to know you're back on track.
Happy pippin'

charly20:
So there's big news coming midweek for GBP and USD on Tuesday. I don't know how much it will affect my open positions from last week but the schematics looks to favour USD so I'll have to be extra cautious with my positions as it may only be a pull back to collect more orders and we continue the journey to 1.198 for EU and 0.89 for usdchf.

Scenario 1 for GJ: price makes a run towards 150 and I'll buy back to 154.6** and I re-sell (this scenario would be most exciting )

Scenario 2: price makes a run for 154.6** first, then I'll enter a sell to 150 and forget about re-buying.

For USDCAD, only one thing I look for price to do for me on Tuesday..... Approach . 26830 and I'll act accordingly because we'd begin a journey to . 2180

it's a story, an interesting one.
Happy pippin' this week.

Gj has made her decision.... Scenario 1 it is . But as I've learned from Mr. Gabson, wait till confirmation before the ride

LaughButton01:
Good morning please add me on which ever forex trading group you on 08091135274
Also, if you know of any forex trading community in Ibadan please refer or recommend me. Physical community please
Thanks fam

Kai, Oga! No special group but here o. I learn from the charts and watch videos of basic concepts to improve.
Trust me, if you go through the past FTA seasons and try to get involved in this community, you'll learn a lot too

It costs time

GabsonFX:
Brov, I just remembered now that you imagined how I take and upload pictures; I use the snipping or greenshot tool on my lappy; I use the greenshot when I want to highlight stuff from my analysis to post here.

Oh... Man pikin no get lappy na. I guess we'd make do with only what we have till lappy comes around

So there's big news coming midweek for GBP and USD on Tuesday. I don't know how much it will affect my open positions from last week but the schematics looks to favour USD so I'll have to be extra cautious with my positions as it may only be a pull back to collect more orders and we continue the journey to 1.198 for EU and 0.89 for usdchf.

Scenario 1 for GJ: price makes a run towards 150 and I'll buy back to 154.6** and I re-sell (this scenario would be most exciting )

Scenario 2: price makes a run for 154.6** first, then I'll enter a sell to 150 and forget about re-buying.

For USDCAD, only one thing I look for price to do for me on Tuesday..... Approach . 26830 and I'll act accordingly because we'd begin a journey to . 2180

it's a story, an interesting one.
Happy pippin' this week.

@copyjoe, you seem so indecisive. If you really love gold, you'd take your time to study her. She may bite a couple of times (give you losses) but eventually you'd tame her before trading a live account.

Because of how volatile she is is the reason I personally decided to stop placing pending orders but to monitor price at my POI and act accordingly. You should checkout what works for you too. Same goes for my interest in USTECH(nas100)

But wait o, where is Mr. Infofirst? , I've missed his posts

CopyJoe:
USD weakness.

AU trade depends on what the market says in line with my zone/ area of interest.

I'm equally expecting gbp weakness from the news on Wednesday. I'll draw up my chart tomorrow, I no get strength today ...

This week may see GBPJPY fall towards 150

samfelly:
Yippeeeeee! You don't meant it?! Hey, like soon I (and others) will cash out like You, like Infofirst and like Netvaluefx?

By d way, Netvaluefx, I acknowledge ur courage to attempt that challenge (result attached) and came out victorious. Dis ur winning goes out to show that I don't need soap from anywhere - abi Cubana cut soap give u? (lets all laff at dat joke).

Henceforth, in dis thread, I don't want to hear anybody say, "You can't do it!" Instead, say, "Billy, you can do it, but please be very careful"

Thank you

I just like your vibe . Keep spreading the love abeg, this life no good to dey think bad things

Feshizzy:
Everyone View the Market differently,
Because it hasn't worked or didn't work for you, might not be bad for others,
i trade only EU because that is what i have extensively tested for over more than 3 years i have been away.
so i know what to expect to some level.
my point is how long have you been on multi pair to know enough...?

I agree with you. I chose five to enable me study them each week and I think I'm improving. I could trade all, given my technique but I wouldn't understand all (at least for future purposes). As they as "history repeats itself"

charly20:
After losing 16% of my equity (for my liveaccprep account),I tried to understand why I lost that large and here is what I understood;
1. Having a limited amount of pairs on the watchlist does not automatically mean no overtrading.

2. I traded with no objective amount to be risked per week

So this week, I decided to amend that and I decided to;

1. Pick only two pairs out of the five on my watchlist for every week.
2. I will risk at most 5%(i.e $10) every week.

The above simply means I have to select only high probability trades for every week. So for this week, I picked two ladies; EURUSD and USDCHF and although the setup played out today I shall hold them till they are exhausted as I'm a swing trader.
For next week, I have only [b]USDCAD as high probability.[/b]
The plan to maximize my profit in this week's two trades are to add maximum of 3 positions on retracements.

I regret not sharing pictures for these setups as each time I post, the pictures hardly come out clearly on this forum, I wonder how Mr. Gabson does it

Have a wonderful weekend, y'all

And after a quick glance at my list, I'll only buy GJ if price returns to 150.

Feshizzy:
You are quite doing well,
Experience always have some to teach,
Every lose and win from the market directly have a way to shape us to be better or worst.

Just keep up the good work.
Over time things would just naturally fall into place.

Thank you for the kind words, sir

VlamesIffect:
FOREX DON TAYA ME O...............

LOSING STREAK AT THE MOMENT....E BE LIKE SAY MY LIFE JUST DEY TUMBLE.........

HOW DO YOU DEAL WITH LOSING O..... AH HE NO EASY.....

STRATEGY WEY DEY WORK ALL OF A SUDDEN I BEGIN GET LOSING STREAK..... CHAI.......

GOD WHY ME?....................

HOW DO I DEAL WITH LOSING?............

I don't know if a word from an inexperienced trader also counts but I think in this business, we understand that loses are part of the deal and we (I personally) embrace them when they come.
Risk management is never overemphasized because even upon 1 week losing streak or 1 month, proper risk management will keep your account afloat.

Try to tame those emotions though.

Myonepip

After losing 16% of my equity (for my liveaccprep account),I tried to understand why I lost that large and here is what I understood;
1. Having a limited amount of pairs on the watchlist does not automatically mean no overtrading.

2. I traded with no objective amount to be risked per week

So this week, I decided to amend that and I decided to;

1. Pick only two pairs out of the five on my watchlist for every week.
2. I will risk at most 5%(i.e $10) every week.

The above simply means I have to select only high probability trades for every week. So for this week, I picked two ladies; EURUSD and USDCHF and although the setup played out today I shall hold them till they are exhausted as I'm a swing trader.
For next week, I have only USDCAD as high probability.
The plan to maximize my profit in this week's two trades are to add maximum of 3 positions on retracements.

I regret not sharing pictures for these setups as each time I post, the pictures hardly come out clearly on this forum, I wonder how Mr. Gabson does it

Have a wonderful weekend, y'all

abham:
Reading this, just helped my mental health because all trades I’ve been making on my demo account are just reds and no blues. I tried making technical analysis where I draw horizontal lines of which I don’t even know what they mean and when to enter the market for buy or sell and I’m getting burnt seriously and it’s having effect on my confidence to trade.

Worst part is I read pdfs frequently but application is zero :/ maybe I should just keep trying as this is a stage of growth in learning.

Lol. My demo "live account preparation" account is currently running at about -300 pips. I'm not scared (its funny saying it with a demo account) even though I treat it and feel it like a live account and do you know why?
Mr. Gabson taught us here to "dance" when there is a lost trade because we would always get it back in multiples(provided you stick to your strategy).
It only takes a trade or two to make those multiples because the rule is
"Cut your losses short and maximize profitable trades"

Please don't lose your mind yet o, we never even handle live account. What would happen then?