₦airaland Forum

GabsonFX:
Let's do it together, Donvic4u, what do you see?
Copyjoe, Kaesyrn, Elliotwaveforec etc.

GabsonFX:
Lesson for the weekend: Topic is consistency.

---

Now that the market is closed, do you reflect on your past trades or you just move on? This I do on a regular and enjoy doing it. One of the things I look at is what I will discuss in a bit; that is trades duration distrobution.

I have taken a picture of my account's trades duration distribution, thoroughly look through and I expect that you should be able to digest, deduce, extract a lot of information from the statistics. I will leave the lessons you learn from it to you and to you alone; if you want to say what you deduce from it, feel free - I'll make my comment on whatever you see/say.

GabsonFX:
What does the numbers on the x-axis stand for?
x is time, I guess you meant y, which is a form of profit or loss distribution

1) You cut losing trades and allow winning trades to run.
You nailed this, was really expecting it. I was also expecting that you would use this your particular extract to deduce the trading style of the trader here

2) You have more losing trades than you won. But still profitable. Profitable trades (15) vs Lost trades (+ or - 22).
You nailed this too. This teaches us that it is NOT only by winning trades, we should not expect WIN! WIN!! WIN!!! all the time. In fact, losing more than the wins don't determine the overall outcome of a trader. This is why I don't shy from announcing my losses here after I post my analysis.
Finally, connect point 1 and 2, then we deduce that 1 tells us that those losses are not huge cos "I cut the losses and let profits run"

3) You closed most of your losing trades after a day or 2.
Right, this corroborates no.1 in terms of duration. 1 & 3 now means that losing trades cut in a day or 2. Still on point

Though there are 1 or 2 more, but overall, you nailed it.

GabsonFX:
Lesson for the weekend: Topic is consistency.

---

Now that the market is closed, do you reflect on your past trades or you just move on? This I do on a regular and enjoy doing it. One of the things I look at is what I will discuss in a bit; that is trades duration distribution.

I have taken a picture of my account's trades duration distribution, thoroughly look through and I expect that you should be able to digest, deduce, extract a lot of information from the statistics. I will leave the lessons you learn from it to you and you alone; if you want to say what you deduce from it, feel free - I'll make my comment on whatever you see/say.

CopyJoe:
It's best to avoid gold for now.

Currently on AU & GU sell. Took these trades yesterday.

80+ pips at the moment.

Today's daily candle close will determine whether I'll continue to short both trades or not.

I'll call trades here before entering the trades. It will help for corrections and advice from our experienced bosses.

Cheers!

GabsonFX:

Wishing you success

GabsonFX:
Special note on the Gold and GJ positions: I JUST CLOSED THEM NOW ONLY because I just met the monthly target (30%), but I'm out at 28% monthly profit, not exactly 30%. I'm OK with that.

No more trade the whole of the month until July 25 ish. I will go ahead to process a withdrawal in the next 5mins.

@Copyjoe, thanks. keep gathering the knowledge, trust you are way closer now than when you first started.

GabsonFX:
Congratulations to me and the entire team of FTA!

I just won the 1st stage of the challenge! All trade closed on the account; I will be moved to the 2nd stage I think in 2 business days.

GabsonFX:
I'm glad that trade left you with a lesson, trust it will stick with you all years.

I'm down to 55.0 pips from 260.0pips due to that rejection, still on +ve only because I entered the position just at the right time. The big rejection is a result of that big resistance I talked about. Many buyers have been stopped out atm and many have been scared away. As for me, today's close will determine if I will continue my long or exist with whatever I get from it.

If anyone wants to fully understand and master price action, gold is one of the best pairs to learn it with. Gold will open your eyes to key levels and how important they are.

GabsonFX:
Great you are on some pips already. I avoid entering a trade after I miss the breakout, I just step aside and wait for another opportunity.

Reason is: if after a breakout occurs and price has moved say 80pips, you don't want to join, if you do - it will seem as if you are chasing price which is a dangerous thing to do cos when price retraces or a major rejection candle move due to news, it will likely take back the 80pips from you and this can be scary.

GabsonFX:
Great you are on some pips already. I avoid entering a trade after I miss the breakout, I just step aside and wait for another opportunity.

Reason is: if after a breakout occurs and price has moved say 80pips, you don't want to join, if you do - it will seem as if you are chasing price which is a dangerous thing to do cos when price retraces, it will likely take back the 80pips from you and this can be scary.

GabsonFX:
Currently running 227.0 pips.
Price just reached the big resistance I talked about yesterday...I think gold will see some retracement to scare away we buyers, if you are on a long, stay firm except you are not a swing trader. For those waiting to sell, this could be your opportunity to take few pips.

CopyJoe:
4 out of 5. I closed EA for 20+ pips loss.

I'll enter Gold at today's close if I get a pullback and good entry from H4.

I'll trade into the daily candle and leave it to run.

CopyJoe:
4 out of 5. I closed EA for 20+ pips loss.

I'll enter Gold at today's close if I get a pullback and good entry from H4.

EU too,enter from daily. If Gold doesn't close well.

I'll trade into the daily candle and leave it to run.

GabsonFX:
I'm currently on 3 pairs, 2 of them are doing really great.
This is the list of pairs I will enter by today's close for sure, for sure: Gold, EJ, NJ, EU, AU, UCAD

@Systembet: I have not received any of your Dms, I've checked my spam too, guess it's a glitch, resend.
I close all my trades before market close, it is a must; else, I violate the contract.

charly20:
How did you make that conclusion?
True, some of us are still crawling and yet to run like @Gabsonfx, @Infofirst (The one who is generously fast tracking our learning curve), @Kaesyrn , @Aluspecialty (not sure but given his level of consistency, I can only imagine he trades a live account) and a host of others I may not know.

@Theyoungmaster has announced once that he'd be going live after what seems to be 9 months according to him, I too look forward to going live at the beginning of next year, @copyjose would go live too in no time(given his passion to understand the market) and as well many others on this forum.
Capital is not planted on trees. Some of us after this learning process would still opt for a cent account because yes, it is quite difficult to pull out a huge capital (given the state of the country's economy) for a smooth trading experience.

So you see your submission that we are all demo traders is rather a silly one and no we don't depend on your "US30" trade calls to survive.

PS: I could smell the sarcasm in your last statement.

Peace!

GabsonFX:
Done

GabsonFX:
Just got time to open my lappy, here is the only account I have running with the 6pairs: TOTAL currently running pips: 387.0 ish.

At today's close, I will check again to decide whether to add or remove trades but I don't intend to go beyond 10pairs at a time on this one.

JAkpayen:
@pipsbarketing, you are really a very patient man. So you wait for both W & D time-frame to align before pulling the trigger. Nah real patience be dat oooo!

GabsonFX:
I have always known you for your persistence, great attitude you've got - you will surely get there; sorry, you are there already nah,,,

GabsonFX:
Following this analysis, today ended with 561.1 PIPS on Gold.....

I will run it till it is exhausted.......

Swing traders trade with complete peace of mind, we wait until it is our time, we spend like 3mins analyzing the market, enter within 5seconds, and leave it to run, go to bed, we check again once every day, close our lappies and go on with our daily works.....but warning: you must have the right mindset to be able to leave trade overnight and go to bed every day for many days without having terrible nightmares....

GabsonFX:
When I say your time will come, this is what I mean.
When I say I will get it back in multiples, this is also what I mean.
1st pix: All 7 trades riding till who knows....
2nd pix: All 17 trades riding till who knows too: this is my pipsbasketing account...
3rd pix: All 5 trades riding till who knows too

These are 3 different accounts

PS: I called most of the trades, pls ignore the ones I did not call since I don't have the time to call them all.

GabsonFX:
I will try by weekend.

GabsonFX:
They are back into that band, the wait continues.........
Swingers are patient to avoid being trapped in a range, but to catch the big move, not anything less than 250pips for gold and nothing less than 100pips for GJ.....so will confirm again by today's close

Theyoungmaster:
This was me on gold. Sold at yesterday's high on 1911 with 50pips Sl and tp at 1892.i decided to train my psychology by "setting and forget" only to check in few minutes ago and see price hit sl and then reversed straight to my tp. Maybe It's well.

The day i will sit on a trade, it will be toying with my emotions. If I na decide to trade like my bosses and forgo emotions,things will na occur.