₦airaland Forum

GabsonFX:
All the trades analyzed here since last Thursday, here is the result (on my prop firm client's account), this can motivate you.....So see attached.

Off-trading for the next 2weeks....

GabsonFX:
Gold closed with a total of +441pips, no more running trades for now, will check again about Thursday/Friday.......All trades called since the last week-ish attached.

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:
AU is ranging.

I expect a breakout soon.

Either up or down, I'll be here to grab some pips.

CopyJoe:
Two things will happen to Gold next week.

1) it will retrace a bit to take out SL and continue to buy massively

Or,

2) It won't retrace at all. It will buy directly.

I will look for a good entry position on H4 with patience. Maximum SL will be 100 pips.

GabsonFX:
Now look at my plan for GU and watch those markups I made on H1 this monday morning, this H1 markups guide me on my trading decision on D1. Price was dancing within the bands since morning, and now pushed out of the band; Now, tell me how I will not re-short this by today's close.

Another thing I want to point out is: many traders, especially the less experienced, will see these moves especially the currently forming out of the band move, and jump into it right away --- NO, don't do that, when you do that, it means you are chasing price and any surge against you may wipe your account. Allow it to cool or relax, check again if it's within your parameters, then enter and hide your SL.

This is why I'm never rushing, despite all those big moves and despite the fact that price is now currently within my parameters on the GU and out of the band, I will still wait till market close and re-check...no matter what.

GabsonFX:
Tell me your personal reasons which you have derived from your personal experience of gold trading why you have gold removed from your list of trading pairs.

NetValueFX:
My thought exactly.

Donvic4u:
Are u anticipating GBP weakness or USD strength?

CopyJoe:
I'll drop my analysis for next week tonight.

For deliberation and possible outcomes.

NetValueFX:
There is always room for improvement. There is no best trader. There are only successful traders.

The simpler your strategy the easier its going to be for you to make money.

Not every rule you see on the internet is relevant.

Always have some EMA in your chart, one day it will show you something valuable.

Don't try to trade what someone else is trading, it might not work for you. From every knowledge and strategy you have, there is one you are inclined to, explore it.

Never ever trade Forex with your last kobo, preferably, never trade Forex with money you will be needing in the next 6 months. It will make want to meet up with targets that might not be suitable for your strategy.

No matter how much you fail never give up, if you keep trying you will definitely figure it out. When you do figure it out,you will recover all you lost when you were failing.

Don't borrow money to trade. Ensure, the funds are 100% yours.

CopyJoe:
I concur.

I have reduced my trading pairs to 3.

GJ, GU, and Gold.

Less is MORE.

NetValueFX:
Its usually very painful to lose gains to the market. However, we keep learning from these experiences.

NetValueFX:
Me I am your boy oo

NetValueFX:
Constantly looking for setups they worry psychology.

NetValueFX:
I agree some pairs are more product with a given strategy than other. I trade about 28/29 pairs, however I have seen that AUDNZD and AUDCHF are worst performers in my trading history. If they refuse to change and turn away from their losing ways, I cast them out.