₦airaland Forum

GabsonFX:
I don't trade like this boss, if I will already be in a position and NFP meets it there, so be it... I don't trade because of NFP, I'm a born swing trader.

Forexislife:
Well, in the past I have tried to do that but news can't be predicted with the chart in my opinion. Maybe you see what we dont see. You can share your knowledge oh I don't mind. Thanks man

saintfaculty:
lookout for price action patterns to join the buy on EURGBP... price is in a buy area now

Forexislife:
you get mind. Trading before NFP

VlamesIffect:
Boss... maybe being a swing trader is what suites your busy schedule....i used to like to trade intra day... looking at 15mins candlestick jump up & down..but it was stressful chai... it's not easy o... especially when i was trading binary options 1 min for 90% return.... The mental effect is horrible....abeg now i prefer swing trade... because i csn relax & do analysis...set my s.l & allow room for market to move...

GabsonFX:
The $50K Prop Firm Challenge

---

Today makes it exactly 2weeks into the challenge, exactly halfway; could you share your experience so far, let's discuss the challenges that faced you so far.
How is your level of psychology so far?
What have been your common mistakes or error?
Why wouldn't you win, what would you do better?...etc

Forexislife:
Come to think of it, why will someone who is not yet consistent in forex be applying for a prop firm? I still don't get the idea.

Firstly, forex is a game of psychology, if you have not mastered yourself properly and be consistent with your own little capital, I see no need reason for you to be going for the challenge especially for those who don't have much to spare. It can be psychologically damaging if you lose out.

I have not even considered such cos I am not in such mental state yet.

Anyways, goodluck to those who do. May the pips be with you.

KingPipmarshall:
Copyjoe, learn to scale your trade. Have multiple entries and take some profits off the table.
Or be goal oriented.
If the goal is 5% monthly target, that is 1.25% gains weekly.

I also shorted AU yesterday.

Feshizzy:
I'm still in this EU buy
Let's see how it plays out this week or next week.

Remember always test your strategy brutally for at least 10 years if you want to be a serious trader.

The business is already full of mediocre in form of traders don't be one of them.

If you want to make serious money, you have to take the business serious.

Always be willing to try something new till you find one that you can stick your balls to it.

Trading journey is a very rough and brutal road. That's why you see the so called mentors can't post their trade journal or explorer.

In the eyes of the market everyone is equal, rich, poor, tall, short, male, female etc.


Buy or sell both trader is right in all boils down to patience and discipline

Patience to know when to enter or hold on to a trade.
And discipline to accept what the market gives you. You

Omo I dey drop motivational quote ooo
Tony123 dey learn work for where i dey so




Note: this is not a trade call.

JAkpayen:
What Risk-to-Reward will someone who target 10 pips have? I am sure it cannot be 1:2, at most it is 1:1

The way market moves these days, if you are not psychologically stable you record plenty losses. Check for example, the analysis GabsonFX made on gold, it is waiting for who to trap and then you get slaughtered

VlamesIffect:
I never still understand how Scalpers dey deal with loss.... because their risk rewrd no just gel to me.....

Forexislife:
Gold no be anybody mate.

GabsonFX:
If you look at the band I drew yesterday on Gold (see previous chart), and I said I will not enter any trade until she is out of it? see today again, the same thing, price keeps dangling in it, you enter you get trapped.

As for me and my household, we will wait.

JAkpayen:
@CopyJoe @Samfelly

Impatient traders = Scalpers

Patient traders = Swingers/ day traders

The market rewards both, but rewards those who are patient the more

samfelly:
lol. My broda, what u complained about birthed Scalper in me.

Trade go dey run in profit. Small time, e go just come back, and take one out. So, instead of wasting profits and time and energy, I resolved to be taking what I have gotten as soon as it creeps in, before it goes south on me. Scalper lomo!

samfelly:
Impatience Makes a Simple Concept very Difficult - #WORDS

Forexislife:
Talk Don pass alert for thread.

charly20:
Here's one truth boss, there are different techniques for different personalities in the market. Myself I'm more of a "low-budget" position trader. I'm ok holding for weeks on a position but there are others who can only hold for few minutes and others for a day (this is basically something we all know).

There is a downside to every technique and whichever one we choose, we should accept the downsides too. Taking what the market gives you, Is that out of fear of loss or because the trend has changed?

That is the question that needs to be answered.

VlamesIffect:
My boss in the practical sense it's not as easy as this sounds on paper..this idea is similar to scalping take small small profits and then BOOM big loss......there are some trades that the moment you enter them na loss o...inshort more & more loss.. so it might sound easy or like a fantastic plan but....hmmm anyway try it & give us feedback. ...

Piptocoin:
[color=indigo]Trading experience is talking through you now. I believe in taking what the market gives me and not what I expect it to give me by locking profits early.

The funny thing is that one needs to make at least 11 pips daily to meet the target or 12 pips if you add spread to stand a chance to meet the target of 240 pips at the end of the month. How hard can that be? Well, quite difficult as there are variables that can combat one's target goals. One of them is not taking what the market gives you. 6 pips twice a day in this competition is bae. Offline distraction is another thing. All I can say, Joe, is keep grinding. All the best.

Edit
making 6 pips twice a day or even more is simple if you have an edge but as difficult as having discipline to execute the edge to the letter. That is where impatience makes a simple concept very difficult.[/color]

Piptocoin:
[color=indigo]Trading experience is talking through you now. I believe in taking what the market gives me and not what I expect it to give me by locking profits early.

The funny thing is that one needs to make at least 11 pips daily to meet the target or 12 pips if you add spread to stand a chance to meet the target of 240 pips at the end of the month. How hard can that be? Well, quite difficult as there are variables that can combat one's target goals. One of them is not taking what the market gives you. 6 pips twice a day in this competition is bae. Offline distraction is another thing. All I can say, Joe, is keep grinding. All the best.[/color]

GabsonFX:
No entry yet on Gold, see how it's behaving....I won't be trading gold for a few days now as long as it remains in that band; it could be that she is expecting NFP to provide the direction....

No trade for now till say Thursday or Friday

saintfaculty:
Now we have usdjpy where we want it... Lookout for sell price action patterns before selling this asset