₦airaland Forum

I don't have the luxury of time to look at the chart every time.

That's why I swing trades.

As a newbie, I can't trade many pairs. It's psychologically draining.

Hence, I focus on 3-4 pairs that I found interesting.

My trades in the last two months showed me pairs I can trade very well for now.

As time goes on, I may add more.

It's a long-term thing. A step at a time.

I lost most of my profits back to the market this week.

The key lesson for me.

When the market starts acting funny, take your profit.

3% profit this week.

2.11% so far this month.

VeeVeeMyLuv:
my boss trading multiple pairs is just like somebody going to the restaurant to eat all the various dishes/meal available on the menu the person will just collapse!!

I concur.

I have reduced my trading pairs to 3.

GJ, GU and Gold.

Less is MORE.

All trades closed.

AU trade closed -24 pips.

GU closed

GJ - 80+ pips.

CopyJoe:
Still green after being red for 4-5 days.

Down to 60+ pips.

GabsonFX:
I just shorted GJ from H4, SL = 152.572 (41.0pips risk)....Now I have GU (short) from D1, GJ (short) from H4, and Gold (Long) from H4 running.
My plan going for the next few days is: H4 trading cycle for GJ and Gold, D1 trading cycle for GU.

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:
Beauty of swing trading

Yes boss.

Total pips on red was about -80 pips for the three trades.

GabsonFX:
Rectified: for gold, I'm staying on the H4 to complete my trading cycle on it before I return to D1: Now I longed Gold with SL = 1745.9.
This is all about the green and red TF discussion we previously had. If you change your TF and record a loss, complete the cycle b4 moving back to your usual TF, don't keep jumping from one to another.

As for GU and GJ, I'm sticking to D1 since I never moved away.

My bias is buy too. But I can't risk my equity for it. I can't enter in that area because of my sl.

Yesterday, I wanted to sell Gold for quick pips. I knew the daily was saying buy.

It didn't work.

Still green after being red for 4-5 days.

CopyJoe:
Currently -ve on Gold.

Sl hit

CopyJoe:
Gold don't leave me.

Currently -ve on Gold.

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 the application is zero :/ maybe I should just keep trying as this is a stage of growth in learning.

I understand boss. I was once in that situation.

But I didn't give up.

Gold don't leave me.

dennison4luv:
December will make it 2 years since I took forex trade serious. Honestly you have not lost any thing compare to what I lost last year and early this year. I have fund my account with $850,$750, 650, $430, $210
And $100 many times I have even lost count on that, I have grew $76 to $680 and I have grew $100 to $950 in 3 days and lost it on the 4day, i have been able to withdrawn close to $1000 since I started trading . The money that I collected from federal government as a loan for covid19 #475000, I lost all in forex trade last year. But I have advanced a lot than last year and early this year, atleat you can attest to that in our competition.
No body is taking away patient and discipline in forex trade.
But if there is a way you can grow fast with patient and discipline why not do that.
""Its only Africans that brags with suffering""
If you fund $100 and you give urself a target of 10% (this is very hard for you to do as a human) in a month because of patient and discipline.
And you registered with a prop firm with $100 and they give you $10000 to trade with and take 50% profit. you give your self a target of 10%, which is $1000 and you take 50% of the profit which is $500. At the end of the month tell me which of the 10% is more achievable with discipline and patient
Please let's not brag with suffering.

Thank you, boss, for this.

I learned that I must not rush the process of growth and development in this Fx business journey.

Gold sell limit 1750, sl 1755

CopyJoe:
From green to red. Life of a swing trader.

Back to green.

GabsonFX:
That yellow price is successfully broken, I would normally wait till the market close to trigger my short but ehhhh I'm switching to H4 to take this opportunity early: the conditions now are:
1. If after I enter from H4 and today ends bearish, it's good for me as I will then switch back to D1 to continue the short or I double my position from D1 today's close

2. If after I enter the short from H4, today ends bullish, then I will exit, and take the rest of my positions from H4 for the rest of the month; and will not switch back to D1 until Sept.

Now, I'm shorting gold, SL = 1761.8

I need a pullback because of my equity in relative to sl.

My entry point on H4 was the close of the last H4 candle.

I wasn't with my phone then.

I need 4H candle to close bearish.

I'll sell Gold.

Gold buy limit 1730.45,

Sl 1723

Currentprice, GabsonFX, Infofirst.

Respect these bosses abeg.

Definition of consistency.

GabsonFX:
I closed all my trades - I'm having mixed feelings, made 14.6% profit and withdrawal processed instanta.......good luck to those still running the positions.

Nice one boss. I know say one day I go be like you.

From green to red. Life of a swing trader.

GU added

I am out of Gold trade.

I'm going the pipsbasketing way.

Different pairs. Same strategy.

Keep it as simple as possible.

The story continues.

Let us see how this plays out.

Gold sell limit.

Last week ended in a loss.

A new week, a new challenge.

Lesson learned last week was to stay with my strategy come rain come shine.

I was stressed out this week.

I wanted to force trades. I got burnt.

One lesson.

Understand your Timeframe and stick to it.

I'm back after that short break.

I'll continue with the contest after taking a break.

Qpetz:
XAU: Demonic move.

I love Gold. I'll marry her.