₦airaland Forum

Petah:
boss, how are things chief? Are you still trading that your $20 account?? If u still do sir, can you kindly share your screenshot of withdrawal? It has really been helpful. . . Shows me that little win done consistently can be a great gain in the long run.

Thanks for asking big man. I experienced a $3.7 DD on the account since 22nd of April. I only traded it once since then.. I abandoned it because I was desperately in need of money which I know will lead to poor decision making and forcing of trades so I had to look for my money elsewhere. The balance stood at $17 as we speak and I ll resume trading it when I'm out of this financial DD. Sometimes we need that real life money as backup to stay confident and discipline.

LincolnOnyeabor:
Well, done for the week!


Cent Account has been Blown Successfully!

Trying to Understand the ways of my Babe Gold.

Wait oo.. Shey no be you them dey advice to avoid Gold on that poor cent account? Show us ur trading history if you don't mind bro, if you lost the account gradually, good! fund again and go again but if you lost the account with just one, two or 3 trades... There's a lot you ll learn from guys here if u can be transparent to let people know ur mistake cause I know the problem here is risk management and wanting to double the account faster

Gold trading and scalping is for pro traders

Done for the week... Its been a long time I go agressive on a single trade.. 3 entries

The life of a stubborn trader

Before and After... I will be closing at market close

Cashhy11:
Being aggressive has lot of disadvantages too, you know this too, reason why you didn't join immediately after the breakout. This is one of those trades that makes one regret his stand, but we shouldn't.
For example, I don't look at profitable trades I missed for being conservative, but instead look at losing trades I missed for not being aggressive.

That way, you won't even feel disappointed anymore with this type of scenario boss man.

Thanks brother. We've missed enuf good setup and we ll still continue to miss. That's what we face sometimes in this business of constant uncertainty. But it's a beautiful pain, FOMO kills account faster than anything so we have to deal with it by staying loyal to our entry and exit strategy.

dmahn:
Luck is also part of this business, this is not saying trading based on luck without any strategy but the luck of you seeing 2 excellent setups and the one you decided to choose from the 2 is the winner while the other is a looser.

Looking at this GBPCAD chart, I would have lost a lot of money from both buying and selling. Cause those are the setup I like to see to buy or sell but both failed. The market has really dealt with both buyers and sellers. Luck has made me not check the chart at all cause I will risk big on those 2 failed setups.

Now I'm more convinced that it's ready for a buy and give buying a trial by next week, if the first setup failed, I ll wait for the second one same TP.

I ll keep you posted on how it goes

Now I ll stop watching GBPcad. The setup didn't come to my entry b4 it started flying.. Now it's too late to join the bus to TP... Nevertheless it's a good call, an agressive trader will be in good profit now

This is frustrating.. 3 weeks of no low risk setup. The ones I've been seeing will take me back to DD if Sl hit as price failed to come for a deep retest. Even if its going to take a month to find good trade.. I will wait

Cashhy11:
I was hoping to short her before if it was able to break the support and retest it and break the low created while it was broken. But she said no, she wanted to head up, I told her fine, go up but I won't long you until you've broken the former support turned resistance and retest it and break your recent high created when you initially broke the resistance.

The arrow below illustrates what I'm talking about better. Wanna try my hands a little on swings.

2nded

Cashhy11:
Seems GN is not ready to sell just yet. It formed my scalping pattern for short around resistance today and I sold it off, including GA too. I Didn't breakeven even, only to have it reverse back to me and hit my stoploss, including GA too.

Gold long came and made the day a better one after those two losses. EU buy too wasn't bad but I have to close now since it's already 6pm. Hope you bought that GbpCad you posted few days ago?

Nice one chief...I'm glad you recovered from the early loss.. I've deleted Mondays from my own trading days bro.. Haven't checked my chart since morning... GBPcad hasn't come to my desired entry yet... So I ll watch closer tomorrow... Thank you

Davigle:
Make small pikin like me chuk mouth for elders talk. Though I don't trade gbpnzd.
But here's my humble markups

Very valid chief... If the daily fvg failed to buy and sellers close below it, we should trade the inverse ....

Cashhy11:
This is what I'm seeing on GbpNzd. A daily candle closure below that red horizontal line and a little retest to the upside, and another daily candle taking out previous low should be the entry trigger.

It's illustrated in the image below: The arrow is the illustration, a less aggressive entry should be after the previous low that took out the support zone has been taken out.
Waiting for the recent candle low that broke the zone to be taken out is just adding confidence and assurance that the first breakout wasn't a false one.

Well, all these are just mere analysis, and market might not even come down to break any zone and head straight up, it might even come down and break and do as predicted, but head to your stoploss after triggering you in. Don't try this at home.

Second image: The price action on H1 timeframe showing reactions at the zone I'm predicting will be broken soon enough. First time market touched the zone, it was rejected by a 60pips move to the upside before reversing and touching the zone for the second time, now the buyers were only able to push upside 30pips before it reversed again for the third time, and they were able to push it 40pips upward, now it's coming down again with so many wicks rejections on tops of most of the candles.


Will it be broken this week? I guess time will tell. This is for educational purposes only.

Nice analysis chief. I love it when traders drop chart, there is always something to learn from na why i dey miss some guys for here. Well in trading there is always another side of the story. Just another perspective of mine that doesnt wrong yours, its just for educational purposes as well.

Looking at the weekly Tf , We are still in an uptrend, Price has formed an inverted H&S pattern with the neckline already broken which indicates a continuation, the right shoulder is the ideal buying zone but there isnt any buying confirmation yet so price might keep dropping since the weekly uptrend line is broken, However there is also a Weekly FVG at the right shoulder, which might be a zone for buyers as well.

Summary: I will not take any Short untill the weekly FVG has been invalidated.....and wont take any buys without seeing any buying confirmation on the weekly.

Leckney:
Boss @info where are you ooo!!! Shey you are fine sha? Complement o

At least baba still show face few weeks ago na

We should ask of :

@charly20
@Elliotwaveforec
@wuyexzy01
@Ibrahimlagosian
@kozmicity
@Kaybee7000
@BinaryRocks
@PIPSMARSHALL
@Galleryeasy
@princeofwallstr
@kendoschurrle............... Nd all

Luck is also part of this business, this is not saying trading based on luck without any strategy but the luck of you seeing 2 excellent setups and the one you decided to choose from the 2 is the winner while the other is a looser.

Looking at this GBPCAD chart, I would have lost a lot of money from both buying and selling. Cause those are the setup I like to see to buy or sell but both failed. The market has really dealt with both buyers and sellers. Luck has made me not check the chart at all cause I will risk big on those 2 failed setups.

Now I'm more convinced that it's ready for a buy and give buying a trial by next week, if the first setup failed, I ll wait for the second one same TP.

I ll keep you posted on how it goes

@wuyexzy01. WHERE ARE YOU!!!!

It's Friday. Just as much I hate to trade on Fridays, I hate to see my setup form without me taking any action. So I will have to choose between the two hates .. I'm waiting for a bearish confirmation on UsdChf before entering for a swing sell. Now I will choose the pain of SL hit over missing the setup

TradingGod:
it is not a bad strategy but tough luck

If you observe the pairs he is trading, they are all positive correlating pairs

Btc and eth
Gu, gold and silver

That doesn't look like tough luck bro. It's not a good way to trade. Betting against the almighty USD on 5 different trades at a time. It's like putting all eggs in a basket. Even if all are screaming buy buy buy, I will only take one or two of them and ignore the rest then look for other pairs that are not usd related. The fact that Gold is positively correlated with silver doesn't mean buying them at the same time will result into profit because they lag sometimes..

realone12:
way to go boss I don't even wait for 1k cash Price.. bad as e bad, e sure for me sey I will win at least $200 cash Price with 25k account.. and thats ok for me

Idan gangan!! .... Congratulations bro

GabsonFX2:
The number 8 is relative, 3 or 4 are also relative, why not 1 loss, why not 10, why not 20 losses. In engineering, we use the word normalization, meaning, I may require 10 losses to win 1 or 2 trades and still make profits; others may require 3 losses to make profits.

What you should focus on is the answer to the question: how many losses would my account require to be blown?

Day traders may be able to stomach 10losses in a row, but not a swing or position trader. In addition, a position trader may still be able to stomach 10 losses anyways if he would not mind waiting 2years. This again balls down to the question above.

Thanks so much boss. Yes I agree 100%. The numbers are relative. A trader with a very tiny SL and trades 1min Tf can take 10 looses in a roll and still not in a terrible DD. A swing trader might be in trouble if that happens

Oya let's argue this out constructively guys. 8 losses in a roll a normal loosing streak or a bad trading system ?.... As for me I will say the trading systems needs to be reviewed and modified.. 8 looses in a roll is a bad trading system... Now question 2 is how long are we supposed to consider a loosing streak to be normal.. As for me I will say 3 and max of 4...

I will appreciate your opinion as well sirs

infofirst:
Should I tell him?
😄😄😄😄😄😄😄😄😄

Not yet boss ... Body go soon tell am.. Make den no tag you enemy of their progress 😅😅... Good to have you back sir

GabsonFX2:
In addition and a little modification to the bolded to help psychology:

Chickening out of winning profits is what traders do due to fear of price reversing and turning into losses, then find out that price continues in that direction.

Therefore, I will modify: when price reverses and turns into a looser, it simply means that that trade was not meant for you, it wasn't yours. Let it go. Close that chapter from your brain and get ready for the next entry.

However, you cannot have the next entry opportunity if that lost trade inavlidated your risk-money management ethic.

Selah!

God bless you sir

Donsheddy:
💯💯💯

You will go places in this business....
I love how you roll...

We will my broda.. All the struggles will be over one day I believe... And congratulations on getting to the last phase of your nostro challenge, anybody wey talk say he easy make he go run am too... Pls stay disciplined till you make it to funded and withdrawal. If you've experienced any DD, you ll surely come back again...

samfelly:
Millions for where? Baba, na regrets I just dey chop here since o 😥😢. Imagine, I go vex cancel the Buy Limit I placed at 2277.69 with SL at 2277.20. And now, na my four eyes I take dey look and escort gold to present point 😭

And the market reversed from that point I cancelled it

Abeg, I fit see confidence buy for Shoprite? 🤣😆😥 I need a trailer load of it

Protecting our equity sometimes is better than staying confident, it's normal for trade to reverse and stop us at BE.. But letting a good winner turns into a looser isn't right for our psychology..

As for the confidence I ll suggest you start to jounal your trades if you haven't been doing that sir.. When I started reading books on psychology, the only one thing I find so in common with all is a trade journal. I don't know why it works but I think it has helped me stay confident with my Trading. I was winning and taking profit on jounal while my equity kept on decreasing because I was closing profit to early and never shift stop losses. Trade journal proved to me that I am my biggest enemy and not the market

dmahn:
Done for the week .. Holding the last one with BE

The last one I'm holding with BE.. Stop has been moved to secure 40% of the profit target. I will be closing manually at market close if market didn't stop me out before then....See yà Next week

Done for the week .. Holding the last one with BE

Loosing streak since last week.. Its very normal like my boss said.. But when you are lucky to see a winning trade, Let it run like hell and dont freak out.. Saw my set up on Gold today and thank God I wasn't afraid to trade it ... We go Again

GabsonFX2:
They won't last, their ratings on a downtrend since the beginning of this year

They won't!!!.. Well it's all good sha.. Hopefully they won't come with another new rule by the next 2k withdrawal.. Its obvious they are broke niggas... Keep enjoying their 2k withdrawal on a steady while they last boss ...

GabsonFX2:
IFF Has Come With a new one

I got a payout approval mail this morning, then checked my dash to find out that only $2000 was processed out of $9,350. Upon reaching out to support, they mentioned that there is a profit cap on every account, see attached.

The first time, I was denied $9K and now for the second time, I'm denied $7K ish.

These guys are bunch of theives... Too H..l with them and their hidden rules

samfelly:
You're doing good.

I'm guessing that 10k account is from AlphaPropTraders

Nope boss.. The same mffx 10k you assisted me with last year June... The account don too suffer for DD hand.. Once I'm up 2% overconfidence comes in and I go back into DD... This is the journey since last year June .. Its really annoying.. Infact oti sumi ... Facing challenge for a year shows alot is still wrong with either my strategy or me.. But I'm sure I'm the problem

Since the last $4 loss on my $20 account, I haven't seen any low risk high reward trade. So no trade, Alternatively I was trading some high risk to reward trade trade on my 10k account because I was up 2%...Lost almost All the gains because of me trading not so quality setup and out forcing some trades.

This happened on the Situp challenge we had when I was up 4% only for me to loose all to all this high risk to reward trade.

My risk appetite is 1% per trade, yet anytime I'm up with some % I forget that and risk more than my risk appetite leading me to close loss early even when my analysis was right.

Staying away during bad market conditions could have saved me

This is me journaling my errs and flaws so that I can work on them and also to remind other struggling traders to introspect, maybe the market isn't the problem all these while but you and me..

We go again

@Donsheddy ...Up Chelsea ... Arsenal don carry your team enter DD

samfelly:
Good of you to call it a day after your lost. Some of us (especially me) go don dey look to get that lost back

Yes boss.. Na to move to the next trade and forget about that one sharp sharp