₦airaland Forum

Geovanni412:
I get your point, chief

But sometimes the way you gather the insight fit cause even more confusion.

If the insight is based on your trading history, then I think it is ok but if it is based on you looking at chart and seeing one 'new' pattern on 4h when you trade 30 min chart, then it's likely a trip that leads to nowhere in practice,.especially if you are a day trader using 20-30 pips as stop loss.

You get what I mean.

Sure boss. I get your point.. The market is a battlefield. Going to the field everyday will bring daily injuries. Any strategy that allows us to see opportunities everyday needs to be reviewed

Geovanni412:
How will taking a break improve performance?

Can Onana turn into prime Neuer if they start benching him?


I'm just asking...this 'forest' business, I think it is best we define our own answers.

Would you run away from your shop for a few days because you didn't make any sales?


Or would you analyse your account records to understand why you made sales and the periods during which sales were best?

You asked a question, instead of you to wait for response at the bolded question, you are answering it yourself

OK let me teach you psychology , We call it incubation in psychology, it's one of the problem solving techniques we use, it's just the unconscious processing of problems, when they are set aside for a period of time, that may lead to insights... What happens after you have been looking for the other pair of your shoe for a while and you can't find it, you incubate, it ll shock u how the mumu pair will just show face after you've stopped looking for it

You left the most important part of the message which is to keep adding to the portfolio of knowledge during the break.

You can see he's injured emotionally, will you allow an injury player keep playing or you rest him for a while?

Davigled:
I'm calling it a day, my psychology is really forked right now, I am stupidly confused and I have had the worst week since the beginning of the year, my God I feel very hurt right now emotionally, because I have been on a Lossing streak since the start of the week and I keep asking myself, is it not the same market that I have been trading, my brain is hurting at the moment and I wonder if I can be going through this pain on a demo account I wonder what would happen to me in on a live account, abeg ooo make bp and heart attack no kill me...

Oh Jesus help me, pls help me

My mentor asked me if I've been into a stage where I felt like giving up coz everything seems not to work, I said yes.. He told me that stage is very important and once anyone is in that stage, one should do what message the stage is passing which is to take a break... Giveup for like 2 or 3 weeks and you ll see how strong you will come back.. Make sure you keep adding to the portfolio of knowledge during the break..."Ram wey reverse, Na power hin go bring no be say he dey run"

wuyexzy01:
To buy or to sell?

To Sell

The H4 uptrend line on EURAUD failed to be broken.... I need a very strong EURAUD bullish candle tommorow

dmahn:
Going into next week.

On EurAud, Im looking to short at market price, An agressive SL is slightly above thursdays high, it comes with 1:3 RR , conservatively the SL goes above the swing high. Im selling because the daily TL is still down.

On Eurgbp, i will instant sell for a small profit at the low, however the real plan is to see market fails to make a new low and reverses to the supply zone for a new bearish move.

On Gbpcad, Its ready for an instant buy, i will wait for price to tap into the megaphone trendline and close above it. No touch of the Tl No entry

I wish us all a beautiful and profitable week. All constructive criticism and contrary opinions are welcome

EURGBP and GBPCAD closed manually in profit... EURAUD still running... Waiting for market to break the H4 uptrendline, and I will add one more position

geedot:
On your EA, selling EA immediately market opens seems a risky one to me, a more better selling position should be around that 1.68x resistance zone as it's pretty strong and market blowing past it without first dropping some bearish move to the next support is very unlikely.

I think the current drop is just a retracement to gain some momentum to find support at the 1.64× area before continuing the bullish move to retest that 1.68x resistance.
The first rr setup is higher but if market does decide to head up, it will blow past it easily as the trendline resistance to me is not strong enough.
Your second setup of rr is better as it will handle whatever drawdowns and avoiding SL hitting if EU final destination is heading downward. But if the market does as I predicted(i.e finding support before heading up to the next resistance), you are going to be tying funds down for weeks for a megre about 1:1.5rr with lot of swap fees inclusive.

With all these being said, is it not better to just wait for market to decide where it wants to go first, and you at the corner watching and ready to pull the trigger because you'd been waiting all along. This should give you easy 1:4rr with less stress of market fluctuations all over the place, since you'd be joining at the beginning of the downward move.

This EA analysis alone is already long enough, so I will stop here. All in all, I make trading decisions only at support and resistance levels. I usually have my bias as to what will happen whenever market gets there, and once it does(they always do trust me, I don't just know how long it will take them to do so), I watch for reactions around that area telling me my bias is holding(and if not, I wait for a retest of support-become-resistance (SBR/RBS) I'd been watching from and switch my bias to join the new bias formed). Or sometimes just set a buy/sell limit around the area if I don't have time to be monitoring particular market with a reasonable SL to prove to me my bias was wrong if blown past.

Patience to wait for days/weeks without trade because something clean enough hasn't shown on the chart, and eagerness to always be in a trade is what's affecting most traders. Tame it, and you are halfway through. Have a blessed week ahead.

Thanks for your input chief.. Well noted

Going into next week.

On EurAud, Im looking to short at market price, An agressive SL is slightly above thursdays high, it comes with 1:3 RR , conservatively the SL goes above the swing high. Im selling because the daily TL is still down.

On Eurgbp, i will instant sell for a small profit at the low, however the real plan is to see market fails to make a new low and reverses to the supply zone for a new bearish move.

On Gbpcad, Its ready for an instant buy, i will wait for price to tap into the megaphone trendline and close above it. No touch of the Tl No entry

I wish us all a beautiful and profitable week. All constructive criticism and contrary opinions are welcome

Davigle:
Oga Nze, am with you on this oooh, infact you don give me full confidence to enter this trade tomorrow at market open sef, ah just finished my analysis on usoil only for me to enter NL and na your post ah first see, as e con be say na sell u sef dey see, na so my chest con swell with confidence, as per witchcraftfx don confirm wetin ah dey see so.

Instead of you to be afraid . Me I hate to see that everyone is seeing what I'm seeing, those are the times that the market might decide to do otherwise, and this is me that have been impulsively adding to losing position ignoring proper MM because of multiple confidence and confluences

Summary. Don't let your double confidence push you to poor money management. It's good to see that everyone is seeing what you are seeing, the side effect of it is the message it passes to the brain to flip your account with such opportunity

Donvic4u:
Small but honest work

Withdraw and reinvest

*Motivational purposes only 🙏🙏🙏

Congratulations. More and more will come

GabsonFX2:
NAS is breaking every bound and every resistance. Currently @ 138 pips.

My people, click on your monthly TF and see history is about to be made on NAS. My MT4 chart starts from y2k, and NAS is reaching price that has never ever been made in history. I would have uploaded charts but I'm not on lappy.

Dmahn, geedot: you guys are good!

Yes boss. It's looks like its gonna be a very long buy, I expect today to close bullish, Monday and Tuesday candle to come bearish for retracement at the Wednesday Daily Bearish Trap candle.. I ll long and throway my phone for two weeks

geedot:
This is where you got it wrong. You were aware before purchasing it, so that shouldn't be excuse you give yourself to mask your failure. You're just indiscipline! You're going to trade a funded account the same way you trade the evaluation phases. Prop firms are out there to reward disciplined and patient traders.

Maybe you are better off trading a personal account. It's better you leave these prop firms, because you are just the opposite of what successful prop traders are. I'm not saying this to ridicule you, but instead to motivate you.

"Whatever you do, know thyself" or what mantra do I see people throwing around here all the time. Thyself is not good enough, and you know it yourself, but you still don't want to change for the better, you will have many years of experience with nothing to show for it.

For example, if I'm about entering a buy trade, and peter or Gabson are somewhere trying to sell from where I'm buying, I'd be stupid not to look at my chart again to see reason they are selling instead. These guys targets 500pips+, with a massive win% ratio, there's no way my SL won't hit for their trade to turn green.

This is not about pride, it's about knowing fx is probability and can go both ways, and accepting some people are just better than you are. I only want to also see from his angle why he thought it would be selling, after cross-checking and I'm fully convinced my buy has more probability of holding than his sell, then and only then I will leave the trade run, or just delete the order if otherwise and wait it out to see if I would have been right or wrong.

This shit must stop guys!!!

I won't ignore this like I did to one @ Davidmalix that dragged me the last time I posted a loss on GA, telling me I have a long way to go coz I took a countertrend trade and ended in a loss.

Every loss is disappointing and embarrassing and the reason why few people post the loss in public is to ease the disappointment, maybe psychologically, the act of verbalising the disappointment puts the problem into an easier perspective. So why would you blame anyone for losing a trade or an account when everyone does? ... Is that to ease the pain of the bereaved account or to add to it?

Now back to your 1st paragraph, the bolded is true and I'm sure everyone of us started from indiscipline to discipline back to indiscipline and discipline until we are strong enough with our emotions. It's a normal phase of a beginner trader,even experts loose discipline sometimes. It's all normal and humane. You made close to 7% first one or two weeks in the Situp challenge, how did u end up being disqualified? If I may ask, how many payout certificate have u received before condemning a fellow trader?

2nd paragraph. You are not saying that sh*t to ridicule , what is more ridiculous that you splitting out that kind of statement on a public forum. If its out of love you ll come to my Dm and offer a solution. Successful traders don't condemn the upcoming traders or when last did u see our Top 5 guys here use such word on any trader

3rd paragraph. How would you feel if u wake up to that kind of message that looks like a curse, should I say so shall it be for you so that you ll know how it feels?

4th paragraph. The bolded shows how unprofessional you are, what you are saying in essence is that once you see the reason they are selling, you will just go into sell full margin ..Ignoring your own valid Buy setup . You ll loose your account that day coz overconfidence will make u forget about good money management. The only thing that ll come to your mind is "This is an opportunity to flip my account"

5th paragraph Successful traders are independent thinkers.

You guys should stop condemning if you are not providing a solution

Everyone will go through his or her own phase of emotional trading, let's go thru that in peace and not add to the pain,

Just like one must suffer muscle and physical pain to build muscles and packs, one must suffer emotional pain to build strong emotions.

#peace

Davigle:
Hard luck my broda, me too I just dug myself out of drawdown yesterday, and I am starting afresh risking only 0.1% per trade which is just 0.01 lot size, I'm making sure my losses do not exceed $5 per trade, ah dey move slow and steady ni ooo, ahn no get $95 to buy anoda account

The three phase initiative is just a way of introducing Hurry and impatience back into the business just like the Time limit Era. Using 0.01 is good but still on still, how long do you think it ll take you to pass phase 1 not to talk of 2 or 3... It ll get very boring in the long run if its getting too long..

I used 0.40 lots size of that poor 5k account cause I hate that I have 3 steps to pass. I've never used more than 0.20 on my real 10k challenge account ... That one is still down 1.5%

Okk... I lost my first challenge account today .... The $1 boot camp account is gone. If you no get money to buy another account or you no sabi hustle for challenge account giveaway.. Take am jeje, Don't go hard or else you go tey for home

I ll resume trading the other accounts by Feb.

Geovanni412:
Complexities are needed to manage expectations in a business

The reason your tp wasn't hit was news and the unique behavior of the pair you trade around 1am ngn time where it tends to gap down or upwards and may reverse quickly

1am ngn time, aud employment news was released.

If you had checked for this, perhaps you'd have limited your risk.

Another thing, you are trading audchf which has an atr of 40 pips and you are holding it overnight for 20 pips...during the slowest period of the market with high chance of range reversal on the pair you traded

See snapshot below...all big trend bars with gaps on chart happened overnight.

It is a pair reliant on aud news, why don't you try trading it towards the Sydney close, which is 2:30 am-5 am ngn time and towards London close, 3pm to 5pm ngn time.

Check chart behaviour during those times on h1 , especially towards the Sydney close .

OK boss. I ll work on that... Thanks so much for your input

Geovanni412:
Calm down

Do you know the statistics for the pair, Audchf you are trading?

Can you tell how often it hits 20 pips and holds the level in a day or is it sth that it typically hits and reverse?

Go to myfxbook and check historical data on 4h chart and adjust your expectations accordingly

I'll give you an example, I downloaded xauusd historical data for 4 months on the chart and what I saw was this...

Lemme use ydae, that move xauusd made from 2021 to 2004 is not normal. The stats showed me that xauusd can go several days and on average may move like 7 points from open to close ie 2021 to 2014.

That type of move of 10-17 points is only frequently gotten for an intraday trader, data makes sense because xauusd just like other pairs tends to range, so it is only normal for the market to move by 10-17 points and make low or high of day then retrace by 5-10 points or more to close for the day

From that data, I know that if I want to be a swing trader targeting 20-40 points move on gold say 2040 to 2010, the reasonable expectation I should have is that I need to wait at least 3-7 days for the move to complete.

After you download and analyse similar data on audchf,

Then you need to decide on when to trade...

Are you targeting London/ Asian/new york open or last 4 hrs of London/ Asian/ NY?

Which timeline favours the risk: reward you want on the pair?

I don't do all these complexities cheif. I don't even understand how I'm supposed to do all those things you listed. I'm a pure S&R trader, I sell when in a sell zone and take profit at the next buy zone. I was expecting that low to be taken out, if I want to be agressive at the tp, I will place it slightly below the h1 low.. But I was very conservative by placing the tp before the low, it's just one of those unlucky days... Look at the screenshot again cheif.. The reason why TP doesn't hit is yet to be known

GabsonFX2:
Phase 2 Accounts Received Few Seconds After Phase 1

Short Nasdaq-100, once, SL and TP indicated! Once this TP picks today or tomorrow - Phase 2 accounts will be passed.

Fingers crossed!

Soft

Is there anything as frustrating as these

The other day, I was stopped out by just 3 pips and market fled to all my TP, i.e if I had extend the SL by just 3 pips, I would have ended with 2.2% profit

Few days ago I exited a trade at BE only for market reverse heavily to TP after being stopped out

Yesterday I placed this trade on Audchf, I was confident about the setup that I decided add one more and stay away from the chart till this morning only for me to wake up to see that my TP didn't hit by few pips despite how Conservative I made it.


God please forgive me if I'm being punished for a sin with all these happenings

Let's keep buying GBP against all pair except USD. I think those guys are the strongest right now... The neighbourhood is smooky it's time to stay save.

wuyexzy01:
On a serious note... "I really need that TP" makes me know your stance. Brother close that thing with that little profit once market open so you can stay sharp and start fresh!!! Plus an advantage of a clearer mind when not carrying any exposure. Although I'll ride for no position. When the direction is clearer u'll make more money! Nothing beats me silly like an early loss into the week.

Noted boss.. The bolded is very very crucial, not starting the week with a loss 👌. Thanks man

wuyexzy01:
😆 🤣 😂 😹... oga dmahn! Anything wey go dey give u psychological stress no gree for ahm!! If you enter a trade and u get confused along the way u can just close it and save ur self d mental stress! It's not always about whether one is right or wrong but just find a way to get ur own piece of cake!!!
No matter how much u loose in forex u can make much more back just don't lose ur head! So learn to accept the loss!!

My Oga I tire oo... I still have chance to BE once market open but I really need that TP ajeh 😂😂😂.. That's roughly 2%...I think I ll accept the loss instead of BE sef... Best loser wins tot me to only trust and follow the signal that make me take the trade and ignore all the signals that created fear... So Im not setting BE... I ll accept the loss instead .... I will update the house when SL hit

Geovanni412:
Maybe gbpaud is not meant for you

Try trading btc and commodities

For the issue of good entries, I just learnt of pivot points from one book by John L Persons

Here are the values I obtained after running it using gbpaud values from Jan 8, 2024 bar.

After entering the open , high, low and close of that day into the calculator, it generated the results below and if you check the chart, you'll notice that the market reversed on the 4h after printing signals at one of such areas.

Let's not chase the market again

Strategy should be to wait for market to hit key area then trade signal after 3-6 hours at key zone. See details from the pivot point calculator.

Kúkú kee me finish 😅😅Beeteecee Abi wetin u talk... But wait oo, I go run all these calculations on top pivot point and still end the trade in a loss ... The calculation will just complicate things I guess.. What I learnt about pivot point is move to a lower TF when price gets into your zone and look for the last 2 strong support or resistant that needs to be broken b4 you buy or sell... Thanks for your imput chief

realone12:
do away with pairs that gives you headache. I have the same problem with GbpAud.. every GbpAud position I opened were almost always a loser..
my GbpAud loses were so consistent that at some point I was strongly convinced that the pair has a personal problem with me.. you will see the pair trending heavily toward a particular direction, but the moment I enter, na that time e go start to dey range for days..or all of a sudden, a very Massive and powerful reversal out of nowhere will occur moving aggressively toward my stop loss. and it won't stop until it take me out no matter how far away I placed my stop loss.
thank God I finally took the bold decision to yank GbpAud from my Life forever..

I must confess, Life has been very peaceful ever since.

Don't mind me oo.. I don delete am for my list since.. Na "No gree for anybody" push me enter barrack go find soldier wahala o😅... Traders and indescipline ehn ...

Peterfx01:
Price action still remains the only truth in forex professionals know this, au is at a decision zone it can either buy or sell from there to be safe exit and wait for a break retest to continue selling or or wait for bullish properties to buy from there how do i know?? Simply look left no ict concept or indicator will tell you this

Noted boss.. I don't need the small profit so I will just BE once market open, hopefully there won't be any gap above my entry

DXYY:
Boss one thing I have come to learn is that 70 percent of the time most of us get the direction of the market right but our entry na im bad , you see entrying the market ehn is very dangerous if we don't get it right , I am also in AUDUSD short since last week and trade is still running , if you check the 4hr or the daily you will see that throughout this week it has been ranging which will make entry very difficult both buyers and sellers will be stopped out. I believe most times you get your directions right but na the entry be koko, I am still also working on mine , I think GBPAUD will also fall but might not be ready yet.

Thanks man. By now you go dey breakeven ... It should be a very long sell to the weekly swing low.. You picked your entry from the weekly right?

Please Read!! . Check the attached screenshot before reading for better understanding

Just like I once said here, I have 100% loosing streak on GBPAUD. Like I've never won any of my GA trades, I held that bias and gave it another trial last Friday, the opportunity looks good to be ignored that I jumped in with a poor RR (Friday has happened to be one of my worst day combined with the trading one of my worst pair) Market put a smile on my face when a strong bearish breaks 1.89897 only for price to create a strong bullish move that closed about the high and started moving towards my SL, only for me to get lucky by price reversing few pips to my SL and an inverted hammer shows up, A strong buy signal has shown up while I'm selling, the market was fair enough that it gave me enough reason to close at BE but I was just holding on to my sell, the strong buy signal might be a trap too I said to mysef... Inshort price reversed and finally took my stop loss. 2nd picture

AUDUSD has done exactly the same thing, sellers break 0.66858 only for a strong bullish candle closes above the swing and reversed few pips from my SL as well. I'm currently holding this trade in profit but im afraid price might reverse from that point and go back to SL just like GA did. If I am to judge based on what GA did I will close my sell and buy instantly when market opens... Its been giving me headache, I don't wanna set BE and price takes me out on BE and moved to my TP

Please advice

Davigle:
My bloda 😁 na d problem b dis ooo. ah no get any bae ooo😅 na forest trading be my only babe, infact I dey addicted to her sotay my body go dey do me wan kind if ah no look chart 😥

You need someone with you on this journey, especially an understanding bae wey go carry bwess put for your mouth when Mr market just dealt with you.. Your whole head will just reset, cool and calm... .... But what if she breaks your heart the same day you lost an account 😂😂... No mind me.. I dey on colos

Just tell me there is nothing like manual exit with this 😂😂... I don wait for TP to hit tire. Now 2 inverted hammer don show ... Make I bend iffaa no close am😂😂

Edd1e:
Usoil mad gan. Volatile and can be directionless for sometime before moving in your intended direction

You suppose know when the market makers that specialises on the pair majorly decided to be on standby mode 😂😂😂

samfelly:
Dmahn no kill me with laughter o

And if the 3 of them still come change their mind and say SELL, make Ibro no gree for them. Make he BUY that moment, abi?

Yes na 😂😂... Na psychology.. When 90% are loosing in this market, 10% dey win... Which strategy pass make the 90% call buy, and you quickly join the 10% sell 😂😂... Shikisiki má mi, Owode😂

Davigle:
And in a twinkle of an eye USOIL did me dirty, stoploss hit, honestly I've come to realize that crude oil is tougher than gold.

Stay away from chart small bro.. You need a break.. Not everyday is a trading day... Relax and enjoy life without forex for like 2 or 3 days, invite ur bae make she come over, .. Very very sweet ... You ll resume with a cooler and beautiful mindset...but you see checking market everyday fit kill person 😂😂😂

dmahn:
My bias on us30...

Price tapped nicely into the entry and fly.. Well my limit order wasn't triggered so it's a missed trade..