₦airaland Forum

@ Edd1e

I remain flat on the ground until you ask me to get up. YOU SAID IT ALL,,,,for me forex is not gamble at all but a calculated risk

my last call here was EUR.AUD,,,, was on bearish that day but with price candle BULL pattern show horn the sign to take the calculated risk... i gave the call to BUY but to close only if that day low taken out. which is about 30pips to my entry point. guess what,,, up till now the low is yet to be breach despite the volatility of the friday NFP. unfortunately i closed the trade with 2 pips. yet the pair continuing shoting up

^

Ogboraph:
you said this to me? ok ok ok

Ogboraph:
you said this to me? ok ok ok thank God

as if he is untouchable forex god

^^ ^

Ogboraph:
DON'T sell it oh please buy it @ 1.42150 then set stoploss 1.41900 and see the magic

sell will be over soon

one of the trading problem,,,, when pair is falling,,,,why should trader want to buy it . HOPE kills

base on my price candle pattern i see a turnaround on some pair ,,, those on GPB short check well if you want to hold on to the short otherwise stay on the side line to learn. i see up up up

Shevychen2:
I am just laughing at all the comments directed to some transgender women here.. It's well.

Meanwhile, I have a little bit of time to write something for newbies. The lad above that has tabulated his earnings is doing a great job with telling himself the truth and ensuring accountability but I have a problem with his trading results. It is very negative and should not be used as gold standard in any way. I mentioned once that he has a good system that needs tweaking but don't know if he ignored or not. His strategy is somewhat similar to mine in terms of levels he watches but while I only take my levels from the daily chart, he takes his from lower charts at times which means lower quality entries.

Using that similar strategy, I have nearly 10% already this week and was only in the market from Tuesday. No trade today yet.

Apart from that, his style or something similar like my boss Capitals does is what any newbie should incorporate. LEAVE SHINY TOY INDICATORS. They are basically the same and will kill you hundred times over before you wise up. Of course I know all about the "use what works for you" mantra but is your indicator really working for you?

Here is something I got from somewhere else that encapsulates my trading beliefs.

1. Pros don't predict or chase price. They trade in the direction of the trend when price pulls back temporarily. They know that the trend is your friend and they will piggy-back on the momentum of a trend. However, they won't hold their trend trades for long, knowing that most of the trend's move has already taken place.

2. Pros know when to stay out and observe. Sometimes it becomes impossible to trade, esp. when markets range heavily or become too unpredictable. Pros know to trade only when the stormy clouds part and the market's picture becomes clear again.

3. Pros trade selectively not frequently and don't over-leverage. They take only the best trades as they know that this approach leads to the most profit. They know that trading too large and being in market all the time does not build accounts but rather destroys them.

4. Pros show no loyalty to a trade. They will prepare for a trade, making sure all the required elements of their method are met, while at the same time being willing to abandon it the moment the market changes or something unexpected occurs. Once a trade is closed, they move on to the next trade without letting the outcome of the last trade (good or bad) affect how they take the next trade.

I got this from http://www.forexfactory.com/showthread.php?t=584705 I don't agree with some of the things but 90% of the things there are hometruths for people that want to last long.

So if you are a newbie here, do these things.

1) Learn how to identify important price levels on the Daily chart (support and resistance, supply and demand anything you want to call it)
2) Learn how to trade these levels by entering in line with the trend (In a downtrend, only wait for price to get to pullback to resistance and sell etc)
3. Be patient enough to wait for the market to come to you (at your price levels)
4. Don't trade with any silly targets (set your logical SL and TP for each trade and take what the market gives to you. You can make 20% in one month and make 75% in another month as I happily recorded this march)
5. Ignore all those fancifully named indicators if you can. I know why I am repeating this. Extremely few traders have gone on to become successful with them.
6. Demo trade your strategy properly to know your winning percentage. This will help you figure out a good R:R to use in your trades. See the image below for ideas (thanks again to that forexfactory thread for the image, I didn't create it). A rule of the thumb is to use 1:2 RR. With this you only need your system to be right just 33% of the time.
7. Money management is vital. I won't dwell on what percentage is right but for your own good, protect your capital by all means. A recent case that happened here is enough lesson if you want to learn!

Apologies to the pros for the long post and this is not a "my way is better than yours" thing.
Cheerio.

very very good point here,,,the holy grail i have known for a very long time..... unfortunately,,,many trader will likely skip this long post because is not coming with that flashy arrow GREEN(BUY) RED(SELL)/map of Africa

for you that miss it i have quoted it here again to read.

where is forex24,,,, it about time now

currentprice:
manually close this trade with 2 pip positive... halfbread is better.....

too much pressure on the SELL side if you follow the trade do the needful and let stay on the side line watching

EUR.AUD yet to breach today low but have move over 60pips from my entry

i know what to do when next time in same situation

Ogboraph:
Bros can you Loan me $100 it will save a lot. or is there any one here that can loan me $100. i will pay back. or am going to jail soon as the guy am owing has told me. that i scam him. this was not intentional done as some people think. just a cry for help. i don't want to miss NFP i can do greatly with $100 i remain yours ogboraph and i will certain pay those i owe their money. Thanks to all

better you miss NFP,,, no use borrow money play kalokalo NFP is 50/50

currentprice:
morning trade

BUY EUR.AUD NOW AT 1.4804 SL 130pips or manually close once today low breached

TP open,,,,, or as your system tells you

check your system,,,, only follow if it says same

_{^{read my siggy before any decision}}

manually close this trade with 2 pip positive... halfbread is better.....

too much pressure on the SELL side if you follow the trade do the needful and let stay on the side line watching

lawson007:
@currentprice,i will suggest that you wait some more before that BUY because EA looks like Selling soon.

thank you for the view,,,,Eur.Aud look BUY to me as at the time i bought,,, the price it will pick is what i don't know but i will give up only once it taken out level of no return "Today low" i think

morning trade

BUY EUR.AUD NOW AT 1.4804 SL 130pips or manually close once today low breached

TP open,,,,, or as your system tells you

check your system,,,, only follow if it says same

shalom123 post=44276108 :
No clear analysis for Euraud and will leave the trade if what I am observing is coming true.
REGAL FX

true,,,, am watching the pair with keen interest,,, less risky to trade right now according to my pa compare to GBP.AUD or GBP.NZD

but watching to BUY for now and close once today low taken out currentprice now is 1.4801

^^ ^

Edd1e:
I don't know what is it with this 'indicator and price action ish'. if u don't know how to read Price Action, Use Indicators. SIMPLE, After all, Indicators are not made for Goat Traders...

to provide more liquidity to the market market must be going concern

lawson007:
that is one thing good about the white people,God does His greatest acts through simple means.


even the price action is an indicator of its won,indicator in English language means something that shows you the direction even moving average,So let's stop condemning indicators but rather help filter the good ones from the bad ones.This will go a long way to help the newbies know how fish faster.or what do u think?

let get it clear me in particular did not and can not condemning any indicator,,,if i can't use it doesn't mean some one else will not be interested to use it. anybody is free to post system and share it to those who need it.

^^ of course for the purpose of making more money off trader,,, they are marketer not trader... i have many of them as a friend ask them for their Live trading evidence from their system or ask them to give just 5 days alert and see story

^^why not,,, any trader is free to upload system for trader who needs it so far the intention is not to lure newbies to whatssap group for fee later

EUR.AUD and EUR.NZD is set to fly any time soon,,,,,am waiting for GBP.AUD or GBP.NZD to make up their mind by 10am to join either

^^you are right ,,,, most traders here has move on to let go system but naked chart/price candle trader

you will fear when you see someone said he has used 1000 system,,, if the system is doing the needful such trader suppose to join the group of private jet owner

@ unclenna respect to your reply,,,,, i just like seeing you here nothing more

as for the poster(childish) that keep saying someone watch happy for the fall of another

Feshizzy welcome on board.... following your chart for more idea

forex24, am also having interest trading gold and oil,,, tomorrow at appropriate time if my candle pattern formed i will post my own likely direction

^^^ogboraph sourcing for new fund
olly12 no see buyer on fta so facing his whatsapp group
unclenna gentle as his newly bought customized system which make him re-appear on FTA after a very long absence didn't live up to expectation

missing member: unclenna,,,,olly12,,,ogboraph

if you took GBP.NZD with me,,let manually close with loss to stand aside for another trade,, the presure to breach last friday low too much.

close my trade with 90 pips negative

if you follow me take the GBP.NZD trade,,,, let be patient,,,, so far the condition of taken the trade still intact. our time will come .

bank holiday afternoon/carry over trade

BUY GBP.NZD WITH ME NOW AT 2.1135 SL 200PIPS or manually close at the breached of few pips below today's low

TP open or as your system direct you

follow me if your trading system tell you to

currentprice:
Bank holiday makes my business slow moving today as am planning to buy either GBP.AUD or GBP.NZD their currentprice now 1.8805 and 2.1115 with SL at the pressure of taken out last friday low

i will see to learn for next bank holiday move

still loving to buy either pair

who will be buying GBP.NZD with me by 2pm candle

^^ to do what with

Thank you for the offer never bother... but if you can show me more of price candle ways of trading, you are welcome