₦airaland Forum

This competition has shown me my level of greed and why I sometimes lose trades.

When I talk about greed,

I am not talking about lot size.

I'm talking about not taking what the market gives me and leave.

I am waiting for 90, 100, 1000++++ pips, and then lose the profit back to the market.

Learning continues.

Fxwarrior:
Gold

Buy at 1760
Stoploss at 1755

Target 1780

I believe the buy will be short. It should sell to 174*

VlamesIffect:
Oga Gabson is a boss... Very transparent trader. Unlike some of us here only posting profit....when the trade go into loss...dey go just lock up like say nothing happen.

Abi o

BrightFuture48:
Wow! Thanks for your openness and transparency. This happens to us all once in a while as long as one is a discretionary trader. You're bent to be carried away by the emotions and market fluctuations which throw someone off the balance and from our ideal trade plan. But it's always good to quickly identify this scenario and try not to revenge trading, it can throw somebody many days hardwork out in a jiffy.

Thank God you're able to recoup back some of your loss. But there is one technique I am trying to sniff out of your trading stats you shared few days ago on your FTMO challenge. The art of CAPITALIZING on your winning trade with that Excellent Lot Sizes. Do you pyramid while covering the lot already in profit or what?. Its amaze me but I really what to learn that technique if you mind sharing it.

Nice one.

I'm interested too.

Gasive:
My brother,
On a normal I would have closed that trade when it began retracing but since we have to trade a single pair, I saw no need for it. And my analysis was also based on D1 so a 100pip dip is normal.
It will eventually continue selling by tomorrow or next, i will wait on it there's enough time.

And BTW, if multiple pairs were allowed, I would have hit the target last week.
Here's a shot of a trade I took on a replica account. (I intentionally didn't use any of the pairs allowed in the contest so it won't seem like I intended to cheat.)

Okay boss

@Gasive

Why did you hold on to your trade last week when you could have closed?



You would have been 1 or 2 steps closer.

GabsonFX:
This Gold Call Update: Today, I was at war with gold; I woke up to see it almost hit my SL, na so I longed again with double lot, went further against me, I tripped my lot until I saw a pull back where I regained some of the losses.

I entered a revenge still on H1, went against me, entered the opposite, went against me.....then i put my phone under the pillow, said I'm done for today. After abt 1hr, I checked again with rest of mind, longed again still on H1 - my previous position, na so I see that long bullish candle in H1, took about 113.0 pips - yes, this is the push I ve been expecting, thus I gained back the losses, closed it and relaxed.

Gold almost messed up my psychology today, this is not me, mba, I don't trade this way. This is my personal account, not props, av gat to relax and continue at market close today.

Lesson: Avoid revenge trading.

I am still trying to come to terms with using big lot size. It's messing up my psychology big time.

It's as if it's real and not a demo contest.

Losing such an amount of dollars is still strange.

I'll get used to it someday.

VlamesIffect:
I dey expect make the thing still plunge boss.... except one kind red news make me close am run comot.... I no be copyjoe wey no dey fear red news.

I don't at all unless I want to scalp.

It's funny how people that don't contribute to the growth of this thread come every now and then to talk anyhow.

Well, we know them. Come, act like Mr know it all, deceive the desperate ones.

We have seen many.

They are always disgraced out of here.

To the newbies like me,

In this business called FOREX, there's no shortcut. You must pay the price for success.

The journey is not an easy one at all. It's very tough but highly rewarding.

Selah.

peteregwu:
Don't kill yourself by trading everyday. It's not a must to trade everyday to make profit. If I don't see the candles formations or market structure I like to take my trade, I will just forget trading for that day or that week. Because of this, it has help me never to be losing anyhow but to gain more profit than when j started trading forex.

True

@GabsonFX

Thank you for sharing the metrics.

Highly appreciated.

GabsonFX:
Glory to God Almighty...I just bagged another live account with FTMO, this time US$100,000.
I passed the Challenge last month and now just passed the verification, just now!

---

Challenge: The first two pictures
Verification: The last two pictures

You can also view the accounts metrics here:
Challenge stage: https://trader.ftmo.com/metrix?share=8d70859c0ec8
Verification stage: https://trader.ftmo.com/metrix?share=a6e59bcd423b

I'm the happiest person on earth cos this verification stage dealt with me but I did not allow it to kill me.

Congratulations boss.

More wins

samfelly:
Hello, house, I want to state my desire to divorce XAUUSD, officially.

Dis is coming as a result of me realising that a Struggling Small Capital Trader as Me should not be romancing a Fast and Deadly Chick as Gold. And dis revelation became so vivid after sticking to the ONLY Pair Gabsonfx challenge demands of US. I have seen that I can be Profitable with other pairs other than Gold.

THANK u

Wise decision.

Piptocoin:
[color=indigo]That may be the case but I would peg his loss at ridiculous position sizes that collapsed his account in such a very short time with the amount made (if true). That coupled with not being in the right frame of mind to trade.[/color]

I agree with you that his risk management is very poor.

Piptocoin:
[color=indigo]That may be the case but I would peg his loss at ridiculous position sizes that collapsed his account in such a very short time with the amount made (if true). That coupled with not being in the right frame of mind to trade.[/color]

I was responding to the part that says stress can affect trading.

I don't know about the other part.

Very true, boss.

I took two weeks break at a point due to stress.

altteemy:
That might be the excuse but it is a fact that stress makes traders misbehave. Though it is actually indiscipline that happens.

VlamesIffect:
At the end EURusd & GBPUSD was a sell...copyjoe.... I Should not have close my sell trades....they use that fomc news to deceive people.....

Exactly.

GabsonFX:
Click on
fxbluelive
View account
You will see PIN under Report PIN and/or access list.
Clear it and save

Done.

GabsonFX:
I can already see you in the participant list, just that your account says 10K, open a new account $50K , 1:3 and synchronize it.

Samfelly, pls help him out.

Copyjoe, pls unlock your account.

17 participants at the moment, pls check the forum section on the challenge, I dropped some messages there. You can also reply via the forum. Ask your questions there and we can help one another.

I will kick off the challenge at 10PM tonight.

Please, how do I go about that?

GabsonFX:
Yes, that's what is provided by the prop firm.

They provide 1:6 on $12,500 & $25,000 funded accounts but only 1:3 on $50,000. We are taking it big and that's why we are going for the $50,000.

It's Exness then.

@GabsonFX

Is 1:3 leverage the only option available

charly20:
Like I said two weeks ago or thereabout that I would expect the following week (last week) to be a dull one because I was expecting a ranging market for EU in order to sustain a HL.

On the H4 is what looks like an inverse HNS and the weekly candle closed weakly bearish the daily candle of Friday had rejected the 1.1700 area. I would be ready to buy EU after a Break of structure has been confirmed on the H4.

Let's see how things play out.

femora007:
All the three pairs show similar pattern on 4h. Hopefully they will buy, if a bearish candle is formed significantly below the opening of the last bullish candle on 4h, bias will change

Thank you, boss.

abham:
Like a boss, go for it bro, I dey root for you aje!

Thank you, boss.

Seconded

Gasive:
I'm interested Boss...
And i believe many of us here will be interested too.
So I will suggest that you open a contest, with same rule as the main trading account and interested persons can participate.
You can then deal with those that reached the target.

How do you see it?

Is anybody willing to share his/her analysis on GU, EU, and AU for the coming week?

GabsonFX:
FREE OPPORTUNITY TO EARN @ LEAST US$542.5 in the month of November

---

December month is fast near, I think it's time I activate the $50,000 trading account sponsorship.....strictly business: you win, I win

I pay the fee C$345 fee and sponsor you to trade the monthly package $50,000 account.
You trade ONLY AJ pair
Must trade the maximum allowable lot size (1.1) at all time for any position you enter.
Must make a minimum of 240.0 pips or maximum of 270pips on this pair (AJ) in a month
The prop firm shares at 55% to us.

---

Out of the 55%, you refund the package fee (US$290)
We share the remainder to 50:50

You have nothing to lose if you don't make it, I bear the cost, but I hope that you make it so we can both chop.

For example

---

Say you trade the $50,000 account for the month of November, only AJ with 1.1 lot. You made the least required pips: 240pips
That's roughly US$2600
We get a share of 55% = US$1,452
You refund the package fee, US$290, remainder = US$1162
We share the remainder at 50:50
You take US$581, I take US$581, that's more than ₦300K to each of us just in a month.
You chop, I chop

I am in if given the opportunity.

I'm in if given the opportunity.

ogashman:
Gold has gone berserk

One thing about gold is that, take your profit and leave.

NetValueFX:
Not for entries ... Sometimes I look at D1 to know if I should continue holding a trade.

Thank you, boss.

Learned new stuff this week.

It's a profitable week after all.

Omo

Seeing these good pips on EU and GU buys pains.

But I move. We go chop am another day.