12ema:
FOR THE NEWBIES: LOSERS WHO ARE WINNERS AND WHY 90% OF THE 5% TREND TRADE.

I see it all too often. A new trader paper trades for a few months, he’s amped up and is ready to take on the world. He is armed with a no fail strategy and is ready to make the world his oyster. He has been paper trading for 4 months and turned 5k on his demo account to 300k in that time, so, it should be a cake going real. Right? He funds his account and makes his first 7 trades which are all losses and his account is down 15%. At that moment he concludes that the strategy does not work, and begins the hunt for a new no-fail strategy. What most traders don’t realize is that there is nothing wrong with their strategy, but there is something wrong with their trading psychology. I have been trading profitably for 3 years and it still affects me till today. Seeing a string of losses and your emotions can run wild. You start to doubt yourself and the system and might be tempted to deviate. Don’t. My mentor is one of the coolest baddass traders I have ever met. I’ve seen where he would have like 20 trades, all losses and he would be as cool as a cucumber. Me, i'd be chewing at my finger nails. It took me a while to understand the concept. He would smile at me whenever I asked him why he was so cool when the drawdown comes. He would tell me he’s just waiting for his home run to come. “it’s bound to happen, it always does” and sure enough, he would be down 20% for 3 months of trading, and be up 50% in the blink of an eye. This concept is what newbies need to understand and master quickly. Losses are an integral part of the game. When I’m mentoring, I often throw the conventional method of coaching out the window and tell my mentees that that they should look at their drawdown period as a waiting period. You are sowing seeds that will bring bountiful returns after the rainy season. Traders who don’t know better are gathering their funds for you. Some get it, some don’t. This is why I like trend following so much. The euphoria you feel when you recover from a drawdown is, for no lack of a better description, better than getting high.

I received some mails about explaining the attachments in my previous posts, to here it is. There really is not much to explain except that the first 7 trades were losses and the account was down to 3800, (how many traders can take that) and then in trades 22, the account jumped from 6k to 11k because of an 819 pip move (home run). This is what trend traders do. We wait for home runs. We don't presume to know or guess where price is going, but, they happen every time. It could be once a year or 2 to 3 a year if you are lucky. When it does, your account increases astronomically. We will take the odd 100 to 200 pips to take care of our losses until it comes. But, when it does come, ohh boy.

Jesus.... Bros, Oga, boss or anything wey you be...God, I throway salute for you. Chai, this advice is worth over a million dollars... Worth more than all those useless trading books failed traders sale. GOD BLESS YOU.

jethro2:

Lol at waiting for me. Thanks for the vote of confidence. You are not yet a farmer if you have not made bundle of mistakes. The utmost importance is learning from your mistakes. I have committed a lot of errors in the farm one that vividly comes to mind is when a supposed farmer give me the assurance of how i will make N10,000,000 from an hectare of tomatoes. Unbelievable you think.
Hmnnnn. With my careful calculation i cut it down and within me i was targetting atleast N5,000,000.
Lo and behold I plunged in all my resources, all my efforts to meet my desire target. I was always on the phone with her to give me instruction.
The truth dawn on me when i could only realise 10 basket instead of expected 1000 baskets.
The tomatoes hardly survive from the nursery. All my hope were dashed.
But farming is for the passionate. You cant afford to give up.
I traced my step back. Bought the another set of seed, give it to the practising farmers and said try this.
Unbelievably, their tomatoes was bigger and yield more than my farm produce despite that they did not make use of any fertilizer.
What i have learnt
1. Farming is not a get rich quickly profession. You ve got to learn the ropes. Get it right first before plunging in
2. There are lot of factors that one needs to really considered and find a way to work around.
3. practise¡ practise¡¡ practise¡¡¡. Farmer A succeding in year one does not automatically means that farmer B will be.

NOTE
I later found out my so called mentor has been feeding me with informations from the internet.

The farmers tomato did well due to soil factor.
My nursery were affected from too much use of chemicals.

God bless u bro, i've been thinking in that direction recently, I intend cultivating tomatoes this year, please can you give me some tips, or please drop your number so we can talk on Whatsapp....Please.... Thank U......

boluwajokosegun:

It will take between 400 to 500 bunches to fill that truck if the fingers are of average sizes.

The best way to make most of the plantain is to process with that no waste , even the over rope produce are also process into snacks , we can do alot with the produce.


What can we do with the dried plantain leaves ? In Edo, Delta & Ondo state i see alot of the dried leaves stack in bunches along the road but l dont nnow what to do with them but i think there is no waste in plantain plant , an doing a research on it presently .

For land good for plantain farm & hybrid double bunch suckers please contact Gbenga on 08136650972 or WhatApp:08182355047

Thanks bro... God bless..

maslong:


Beautiful, may God bless you.

Your welcome...

naijababe:


Just technical analysis. There is no need to do anything special, just load monthly and weekly pivots and trade these two candles sticks only - engulfing/railroad pattern and pin bars on the one hour time frame. That's all you need really.

Wow.... God bless u......

naijababe:


On my platform, it is DJIA but could also be US30

I beg ehhh... how do you trade it, do you trade based on fundamental factors or technical analysis?
Because fundamentally I don't know how or where to get news about Dow Jones. Thanks..

maslong:


Thanks, I have downloaded it but how can I use broker of my choice with the same platform. in my PC DEMO I use lite forex mt4 platform.

E no hard, just click on accounts, the click on log in with existing account or open a new account, then type your company/broker's name in d search box that appears, then login it & u are good to go.

12ema:
FOR THE NEWBIES: Position sizing and risk management.

So, you've decided to use x percent of your account on any trade. But that alone is not enough to venture into the said trades. In order to know how much x percent is actually worth will depend on your stop loss, $ risk per lot, and pip value. Hypothetically, you have a $1000 dollar account, risking 5% with a stop loss of 60 pips. First you need to know your lot sizes, which is usually $1,000 trades or $0.1 per pip/$10,000 trades or $1.00 per pip/$100,000 trades or $10.00 per pip. Unless you intend to start trading a standard account, most accounts start of with $1000 or $0.1 trades. Next, you need to know how much you are risking per lot, and to know that you need to multiply your stop loss by your pip value, which in the case of the $1000 account with be $6.00. or 0.1 X 60. Now that we know how much we are risking per lot, we then need to know how much is the dollar value we are risking per trade based or our 5% rule. No need to breakdown the math you'all already know it's $50.00. Finally we need to know how much contract or in Mt4's case, Volume to buy on that one trade. To do this, divide your dollar risk by your risk per lot. In this case it would be; 50/$6.00 This means you can only buy .83 contract or volume.

Why is understanding this concept so important? it is important because of fixed fractional position sizing. Lets say your first trade was a loss and you have 950 dollars left, your dollar risk reduces to 48 dollars on the next trade. It might not necessarily affect your volume or contract size you place on the next trade, but it will get to a point, if you keep losing, your volume or contract size will begin to reduce in order to respect your 5 percent rule. If you start winning again the reverse will occur; your volume/contract size will begin to increase. Of note is, the higher your stop loss, the lower your contract/volume size and vice versa

The advantage is; you will never blow your account unless you are risking 40 percent on a system which has a 29 percent win rate. And when you win consistently, you will exponentially compound your capital in your account. In order words: when you lose, you lose small and when you win, you win big.

My dear newbies, these are the things you need to know and know them quick to survive this game. Don't be like me, who spent seven out of ten years following the wrong path. Who started with fixations on charts/system/crazy returns and the "i am so special, i can beat the market" mentality. Price is not your friend. Don't even fathom the idea you know price. Control and manage your risks, your profits will come naturally on it's own.

Good luck

Another Gem... Thanks boss..

AreaFada2:
.

I don't have a recent experience. But a young relative planted many acres of maize. It was vastly devoured by grass-cutters/cane-rats.

I don't think he frequented the farm a lot after weeding. Around 70% was lost as they ate the pulp of the stem.

How do you guard against that?

I think the only ways to control grass cutters and other rodents is by using rodenticides or setting traps Scare crows work mainly for birds....

maslong:


please sir, can techno p5 android be compatible with the mt4 platform? if yes how can I do it. if no, please can you recommend any phone for it. I have been using computer for my demo trading. thanks

It's compatible, that's what I'm using. Go to Google play store and download meta trader 4 or 5 platform. I think, meta trader 5 consumes more data than 4, but it's kinda more advanced.

12ema:
FOR THE NEWBIES: BACK TESTING A STRATEGY.

Before one endeavours into a new strategy, one must thoroughly analyze the pro's and con's of the said strategy in a logical and mathmaticaly detached prognosis. It is not enough that anyone gives you a strategy claiming it will perform miracles for you without first seeing for yourself how it would impact your win to lose ratio, equity curve, and draw down percentage. Truth be told these three aren't that important because, almost every strategy has an edge, and that is what you are looking for; except if your strategy is flipping a coin before you take a trade. But, the reason you want to to know these three is to to know how much percentage to risk when placing a trade. If through back testing you discover a strategy has a 70:30 win ratio, i would feel more confident risking the max of 5 percent on any given trade. If i realize the system only wins 29 percent of the time, i probably would not want to risk more than 1 percent of my account per trade. One important reason to know draw down percentage is the higher you risk on an account and you go through a losing streak, which happens to all of us, the longer is takes to recover your losses in order to balance out. A trader who risks 1 percent percent per trade will recover faster than a trader who risks 5 percent per trade. 'nuff said.

I recently did a random back test of the 4 hr GBP/USD pair starting from Jan 2010. I used a strategy of 12/144/169 EMA cross overs. My findings were very interesting. The back test parameters were; if the 12 crosses over the 144/169 we buy or sell depending on the direction of the market. We would not use more than 3 percent of a 1900 dollar account and our stop loss would be a cumulative 60 pips. The reason i did it was because, i was looking for a better way to trade where i would not have to check my trades for at least a week. I trade the 60 minute time frame at present and it is starting to be too short for me. Right off the bat in Jan we had on the 27th, an 883 pip move and we just followed price from then on till december 2014. You can check it yourself, it's on every MT4 platform. Conclusion of the back test was:

Total trades: 64
Total loss: 26
Total pip loss: 1503
Average pip loss per trade: 58
Total wins: 38
Total pips won: 10613
Average pips win: 279
Win ratio 2:2

Total Profit: $96,191.

So what does this tell me? it tells me i can migrate from the 1hr to the 4hr time frame effortlessly in 2015. It tells me that i have less trades per year which is good. It tells me that the average trends runs for almost 300 pips which is more than the 1 hr time frame. It tells me that there are less whipsaws on the 4 hr time frame. It tells me to expect an average of 20 trades per year. It tells me that my average SL will probably never exceed 70 pips. Finally it tells me that i should have been trading the 4 hr based on my system.

You should try it.

Good luck this trading year.

You just too much bro. I'm always learning from you. Thanks.

world1:
Generating amazing wealth with watermelon cultivation.

Growing watermelon, amazingly, requires minimal cost, but a very high propensity to make a farmer generate wealth in less than three months and break away from poverty.

It is one of the highly cultivated and consumed crops believed to have originated almost 5,000 years ago from the Kalahari Desert of Africa.

When you consider quick cash in farming, watermelon is among the crops to plant. The gestation is 70 and 90 days (depending on varieties), average days for maize and sweet potatoes.

Cultivated all over tropical climate, it is produced all over in Nigeria but at different periods for optimal bumper harvest.

Time of planting
Watermelon is best planted at the outset of the raining season or when the raining season is almost done. This would allow for low relative humidity, a condition essential for normal growth of the crop in southern Nigeria. In the northern parts, he said, early season planting is in May and late season planting is July. But with functional irrigation in the north, it could be planted round the year, accounting for why it is usually brought from the north.

Land preparation
Watermelon can be planted on flat land or on ridges/plant beds depending on the nature of the soil. According the plant physiologist, if the water table level is high (in the core raining season), seed beds or ridges are essential. It requires loamy soil or silt loam soil and it also performs well on heavy soil if it is well drained. It does not tolerate water logging and so, if planted on heavy soil, ridging will be helpful to improve drainage. On loamy soil, it is usually planted on the flat land.

Harvest
One way to determine when watermelon is ripe is to watch the tendril closest to the melon stem. A tendril is a modified leaf or stem in the shape of slender, spirally coil. When it turns brown and dries up, the melon is ripe. The trouble with this method is that with some watermelon varieties, the tendril dries and drops off more than a week before the melon is fully ripe. The surest sign of ripeness in most watermelon varieties is the color of the bottom spot where the melon sits on the ground. As the watermelon matures, the spot turns from almost white to a rich yellow. Also, all watermelons lose the powdery or slick appearance on the top and take on a dull look when fully ripe.

Capital requirement
planting one hectare (15 plots of land) of watermelon would require about N190,000. Breaking the cost down.
land clearing, plowing and harrowing one hectare mechanically would cost about N20,000
seeds, N50,000
planting and weeding labour would cost N34,000
fertilizer (four bags and application labour) and N30,000
Insecticide, application labour, N20,000
sprayer N10,000 and other expenses, N20,000.

Yield potential and marketing
On one hectare of land, 10,000 seeds can be planted using 1metre by 1metre spacing, of 10,000 watermelon seeds are successfully grown, each will produce at least two big fruits if fertilizer is properly applied and weeds controlled at the appropriate time. So, no fewer than 20,000 watermelons would be harvested on one hectare of land, all things being equal.

According to street value survey of watermelon, a mini truck containing 500 units of the product is sold for N50,000. Dividing 20,000 estimated harvest by 500 would make 40 mini trucks of watermelon. Multiplying this by N50,000 would mean N2 million. This is the minimum estimate.

Marketing watermelon, is easier, as many bulk buyers about in major cities, especially at fruits market. You can also sell the produce to supermarkets and local fruit retailers.

We have the seedless watermelon for planting.

Wow..... Great... D only problem seems to be marketing. There are not up to 5,000 water melons in the melon market in my state, talk less of 20,000. The problem has always been market...

FOREXMARTS:


Send me a pm on whatsapp.

But I don't have your number, that was why I dropped mine.

FOREXMARTS:


Lol jamace baba i see you. I never left fx tho. I switched lane. Drove on the whatsapp messenger lane and man it's been an experience managing people with unique characters, we will be two years by February my birth month. But now i hope to drive on two lanes. Fta and whatsapp so help me God.

Bro.... plz and please I will really love it if you can add me to your whatsapp group... I really need some improvement.. 07032816335

FOREXMARTS:


Lol jamace baba i see you. I never left fx tho. I switched lane. Drove on the whatsapp messenger lane and man it's been an experience managing people with unique characters, we will be two years by February my birth month. But now i hope to drive on two lanes. Fta and whatsapp so help me God.

Bro.... plz and please I will really love it if you can add me to your whatsapp group... I really need some improvement.. 07032816335

12ema:
FOR THE NEWBIES:

As we navigate into the new year, take this time to take stock of your trading in the past year. I will try to enlighten you on some of the things you need to focus on in order to survive in this business for the coming year. Note that i said survive instead of "make it" or "be rich". For the relatively new traders, your venture into this business is all about survival. How do go through 2015 without blowing your account and calling your broker to fund it again? Here we go;

1. To make forex a sole source of income you need serious capital. Anything less than $100,000 and you are risking emotional turmoils which would lead you into failure. With $100,000 you can maybe rake out a constant and sustainable monthly income. Now, not everyone has that kind of money so you have to build it which takes time. This brings me to my next point.

2. Focus on another source of income. Since building a large account takes time, you need something else to cushion your financial needs and to take away the need to dip into your trading account or try to pressure yourself into making outrageous bets when trading. Relying solely on your trading with a small account is suicidal.

3. Focus less about systems and more on money management. The truth about trading is not about looking for a constant winning strategy, but about looking for the most efficient way to manage your money. I personally know traders who trade with systems that generate 3 wins out of ten and sometimes even 2 but these guys are multimillionaires. How does that happen? They don't care about systems they care more about risk exposure and eliminating that exposure as quickly as possible. A trading strategy simply means an edge, pattern, or a constant that occurs occasionally in the market or on your chart that can be exploited. A pattern happens on occasion, you don't know why when and how, but it happens. All you are doing as a trader is managing your capital to exploit this opportunity. Another way to think of it is statistics and probability.

4. Your primary focus as a trader is to eliminate risk as soon as possible on any trade. So, with a $1,000 account risking 3% will expose you to $30 as risk. There is no guarantee that your first ten trades will be successful so if you lose ten times you lose $300, think about that. Risking more shortens your lifespan as a trader. Might as well go to Vegas and gamble. The larger your account becomes the quicker you reduce your exposure. The sooner you bring it down to 1% the better.

5. Use a strategy you believe in and fits you as a person. Don't go using a winning strategy that Mr A uses if it doesn't fit you psychologically. A patient person cannot scalp. A impatient person cannot trend trade long term. A trader who has a 9 to 5 job should not use a strategy which requires him to check his charts constantly. Because it worked for Mr A does not mean it will work for you.

6. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. Compound your profits. 'nuff said.

7. Never ever borrow or sell anything to raise capital. Never trade with what you can't afford to lose. (from experience).

8. Never ever forecast the market or believe you know where price is going. It will shock you every time.

9. Have a vulcan mentality or be like Mr Spock. You win you win; and you lose you lose. No emotions. Winning 300 pips today without controlled emotions could mean losing 400 pips tomorrow.

10. Read this write-up again and again until you get bored.

May God really bless u. I sweàr if I had read dz post a few years back, my story would have been different. Please & please, can u talk more about "risk exposure and eliminating that exposure as quickly as possible".
God bless.

Talking about loads of 9/11 trucks, can someone please help tell us the number of plantain fruits that can possibly fill up a 9/11 truck?

Following.......

bawelat:
the topic says cost analysis pls must of us following you are waiting for a rough estimate on this thread to know what to budget against the coming year,january is just some few hours away thanks

True talk bro....

Soloxam:
Thank you Lord

Happy birthday bossssss....... I wish u all the very best.... Success, happiness, joy, peace, long life, prosperity, and everything good. Hv fun, carry my cake come o...

jasper7:
just saw this thread now. will be uploading very soon. it's a great thread. I've learnt alot

I'll be looking forward to hear your story.

Wonderful thread.... I pitch my tent here....
Following............

Don't worry jasper, God will definitely protect u. Get well soon bro. God is in control..

Soloxam:
Thanks so much CEO for sharing this with us, I understand well that over population in any agric setting reduce your yield, same gose to fish farming, even crop productions. I read an article here on NL when @Mercylious was advising an intending farmer to use 2m by 2.5m spacing when planting plantian, she said anything less that this will amount to loss.@Eclipse hope this info will be useful for you. Others please roll in ur experience... Be a shock absorber for intending farmers.

Your welcome boss.
Merry Christmas and a prosperous new year to all the farmers in the house...

Wow!!!!..... A lot of experiences here. Mine was my Dad's mini poultry farm. About 3-4 years ago, my dad saw the profit potentials of having a poultry farm, and immediately built a 30ft by 15ft cage in our large compound. He targeted the Christmas period for sales, due to the high rate of Chicken sales during Christmas season. He stocked the cage with about 150 broiler birds. Feeding and raising them wasn't a big deal, he got good advice for that, and by December when they reached maturity, he sold them all with the greatest ease. As a matter of fact just two buyers bought all. Everybody was happy, I was happy, my dad beamed with smiles as he calculated his profits, and made plans for the huge killings he would make the coming year. He was to target the easter period. When time came, he increased the number of birds, he bought 400 birds this time, divided the cage into two, and created upper and lower layers in the cage. He fully stocked the cage. Around February-march, the unexpected happened. The birds started to die, one after the other, they fell ill and died. we consulted some vets, and they said it was due to heat. Temperature was really high them. It was so bad that some days, as much as 12 birds die. We did everything possible to reduce the mortality rate, we opened up the cages, bought drugs, sprinkled water on them constantly all to no avail. We lost about 200-220. Our neighbour in the next compound lost all her 200 birds which was already mature, and was shocked and hospitalized for two weeks. Lol, it wasn't funny then. Till date, my dad's cage is still vacant, mum uses once in a while to keep birds, but in a small scale. Lol. We all learnt our lessons. We learnt that to succeed in agriculture, a lot of factors come into play, weather, pests, diseases, availability of feeds/food/maure/water, market, e.t.c, the least goes on and on. From my little experience, farming no be beans and bread o, but the profits dey sweet jare. Lol.

Soloxam:
CEO I hail oooooo, how farm boss.

I thank God o... Nice thread.....

Soloxam:
Haven taken note of ur sowing depth, then I think u need little knowledge about weather forecast, it always a great risk for farmer to finish planting ether watermelon or cucumber and it rain immediately, your chance of high germination is low, but it better u plant after it rain.
Other factor is planting viable seeds. Most seed seller have ignorantly cost farmers a lot of damage. some will shelve/displace their seeds under the sun , vegetable seeds are so tender that u have to keep it in a cool place. Exposing seeds to heat will reduce it viability. farmer should also avoid leaving their seeds in the car for days.
Farmer do not buy a seed displaced under the sun. You can advice the seller to stop doing that because it Will affect ur yields... More to come, Good morning.

Oga boss, I see u, I'm following jare..... Konfirm..

Great job guys, you seem to be doing good. Honestly, I've been considering quitting Forex. I hope this thread helps.

Soloxam:
CEO, I sight u too, how ur end sir.

We dey o boss. Good luck.

Soloxam:
@oga Jasper7This farm is presently in Oshogbo in Osun state, But now am setting new farm in Ibadan, Thanks for the compliment.

I see u Oga Soloxam...
Greetings

mercylicious:


have u tested the practicality of using mulching film for plantain?
I dont think it will work for plantain considering the roots and how the suckers produce.

I've not tested o, I don't know o...Those things also cost money, buying mulching films for a plantain farm of about 2,000 suckers of about 7-8ft by 7-8ft, no be ur account u want close? and some may not even last up to nine months before becoming really damaged. However, e be like say na only me dey ask Op questions now, so I want kukuma hold my mouth make e no come be like say I dey too tackle am..