₦airaland Forum

realone12:
Make una congratulate me oh. I don hit 20%
Glory be to God

Congratulations boss, and goodluck on the 25k account.

rainlover:
I haven't really noticed.
I have traded gu only once. I was even shocked at the level of volatility.

What's the reason behind the positive correlation?

Most likely because the GBP and GOLD are safe haven instruments against the USD. Whenever doubts and fear arise, investors mostly flock to GBP and GOLD; that's why GOLD thrives very well in times of war and chaos.

infofirst:
Na we wey dey trade GU our own way actually stupid. Trying to force it our way. Instead of the gu market way.
The wise ones trade gu in gu market way.

The same GBPUSD he's whining about, is the pair I've been holding longs on from the Daily timeframe since on Monday night, today, it's about half way up to my TP order.

The market simply doesn't revolve around anybody; it does whatever it wants. The good thing is that despite all the chaos, there's still consistency in there, patterns that repeat time and time again, and that's the edge we've got as traders.

infofirst:
US30 na emotion abuser. Well, maybe because it's combination of top stocks on the floor of NYSE. Heavyweight tinz

Boss, you're absolutely correct.

rainlover:
if GU na lion watin gold and us30 come be?

First, have you noticed, GBPUSD and XAUUSD move in tandem? (Just take a bird's eye view at them and you'd see what I'm talking about).

Secondly, US30 in an Index housing 30 solid companies based in the US (Stocks).
The Stock market is the Economic beating heart of any nation, so trading US30 is just as much as trading the US economy alone without the battle with some other nation like the FX pairings such as the GBPUSD. This means you've got access to one way volatility and with the NYSE being the largest in the world; that's volatility uncapped! No other instrument holding back it's power with all the billions of dollars moving around these 30 companies. If you want it more stable, then step up to the higher TMF; it behaves more radical there, just like XAUUSD.

Edd1e:
GU still remains a very stupid pair . Don't know why I go shook head this morning even though I don't trade it. Indiscipline

It simply doing its thing; the market is never wrong.

dottozil:
Morning guys, bosses in the house pls I have a question, let's say m on 200 dollars profit and I want to lock in some profit like 150 dollars pls where how do I place my stop loss

move your SL order and place it at a price level 50 dollars away from the 200 dollar price level.

dmahn:
I will disagree to agree boss. Not Everything, There are few combinations that are very very objective. If there is no element of objectivity in the market, No one will be in this business.

Yeah, I agree; but I was talking about how each person interprets what he or her sees in the market, not the foundational principles themselves.

dmahn:
I have not used that Fib Guy this year at all. I found it too subjective.

Actually, everything in the markets is subjective.

Immortal99:
You eeh

Who de page 4 ..wey u de yab dis monday now.....
Is it your data ?

If you want to talk to me...talk to me direct..
Dont be passing through the corners

My broda na we we oo. since the competition started I only got to place my first trade last night (swing trading), and currently the trade is dangling between my entry and sl levels. I just dey smile for men on 10%+ already.

karkinase:
Don’t think it’s a bullish rally too.. just a retracement to Friday (NFP) left over orders

GBPUSD is going for an upswing from a Weekly level of support on the Daily TMF. This upswing happening on the Daily should play out as an uptrend on the intraday TMF, either the 4hr or 1hr.
The price action is there to guide you; just read it.

Peterfx01:
Monday market open I'm expecting a continuation of sells on eu and gu,
If you were wondering why the market sold on nfp that's why, I'll continue to preach the effectiveness of price action and its simplicity

Some may never understand you know.

peteregwu:
On EURAUD, I have been on this pair for sometime and I am still holding with 250pips in profit. If I could see a retracement to around 1.62419 and 1.62779, I might add more positions to target 1.61379

I missed the buy move of the recently completed upswing before it changed direction down (wanted catching it on the Daily but it happened to give the buy signal on the 4hr and I don't trade intra-day, so I missed it), but I wouldn't be too quick to change my bias to the downside though, cos Monthly recently metamorphosed into an uptrend (though unconfirmed, but the upside momentum is there at least), and the Weekly of course has been in a confirmed uptrend for quite sometime now and that trend is still intact (coupled with the present upswing which is yet to complete). So selling the Daily down move, I'd be pretty careful (I only take a momentum swing down if it's bouncing off a Weekly resistance level and even at that, I would only be vouching for just one swing down for now, till price action says otherwise).

MONEY247:
A little pull back then....
The drop... or maybe just continuation...

But you see that little M boy up there, price usually re-trace back anytime it breaks m or w neckline,...

Fingers crossed, we react with the price and follow the flow....

It already did, I think the M15 TMF should show you a clearer picture of it; it's easily readable from the long wick bearish candle (the wick shows rejection), so that's your pullback. The one you're trying to picture now is a whole new swing entirely.

And now the +5% resistance is finally broken, courtesy @kaesyrn.
@elliotwaveforec your performance actually looks like a standard "impulsive" Elliot wave count; kudos to you.

I looked at the performance charts of @ogashman and @greatcheer and damn.. I felt like I was looking at the chart of a tradeable financial instrument. Kudos to all of you; e no easy to maintain that green colour.

Market slaughter! Nawa ooo... I just pity for Thinkmarkets Demo server this month. But I sha just dey observe to see only two names for competition list, till now no luck. One been even appear before, but now e don disappear again; whether na password loss, I no know.
Weekend dey come sha.

Proudpolygamist:
are you sure about this?
so u mean the total lot size is 25?
Someone else should pls confirm

So u mean one can actually trade
3 lot gold
3 lot silver
3 lot platinum
3 lot US30
3 lot BTC

That's a joke taken too far samfelly, no go raise pesin hope kom dash am. Na competition we dey so, no be test run we dey test run 😁

That the way it is oo; he ain't joking.

Kaybee7000:
Wao TFT in trouble,pull more gear bro,wish u happy ending chief

Still at "No data" oo

HumbleTrader:
You are being shallow minded, there are different style of trading each with it's advantage and disadvantage, saying you must only make 10% profit a month is silly, The traders that are making 20% do they have two heads. Some weeks back a trader by the name Jeffrey Benson withdrew 80% profit which was $800k do you see him telling people to be content with less.

https://www.youtube.com/watch?v=6MmJoL_7J0A
If you can make more, make more, in forex trade, one size doesn't fit all.

Even with that 10% target, you'll still blow the account slowly if you don't know what you're doing.

You last paragraph is absolute truth!

Feshizzy:
The big question and also a practical question is
When does it end?

I used about a year practicing only trend reversals, i just couldn't fit it in.

How I wish I had the space to teach right now but where I'm right now isn't balanced for me, but soon enough, if you're still active on this thread, I'll put out some lessons I hope you'd learn from. You can count on me for this.

CreamyCoffee:
Its a strategy of trading, market is not linear, traders still adopt it because there will always be retracement

Try buying and selling low; you'd get exactly what he's trying to say.

Elliotwaveforec:
I deposited on the 5th of this month; swap-free and no commission.

Which means you're paying spread; isn't that expensive?

HumbleTrader:
You're saying nonsense.

I totally agree (even thou your language is not so nice), your stance is correct.

HumbleTrader:
Go back to baby pips

To educate you, all timeframes are thesame except the speed at which they move, there's nothing technically different from them.

If I show you the screenshot of a 30 minutes timeframe and a daily timeframe, you won't be able to tell the difference.

That's the Principle of Market Fractality!

XAUTrader4L2:
Well maybe it does on the lower timeframes but on the higher timeframes, it doesnt just happen like that.

It happens anywhere trader. The markets are simply fractal in nature.

XAUTrader4L2:
1. I am speaking from experience and not books, that was presumptuous of you. Not that books are bad cos they give you a starting point. You have to do your own due diligence.

2. I really dont see the relevance of this your points but I will say one thing, knowing when to stop being in a trend is an added edge to your trading.

Your second point there captures what I was saying; know where to get in and where to get out, don't with just about how far the trend would go.

XAUTrader4L2:
Making profits within a trend is only possible by predicting the extent to which that trend can go. Price does not move in one direction forever.

PS: I prefer the word probability to predict.

My point is, you mustn't eat up the full cake to know how it tastes, just a piece is enough. Trying to pick absolute tops or bottoms in the markets is unnecessary, just catch a swing (a piece of the cake) and move, period.

meshpips:
Good afternoon people!
I see emotions running riot.
This talk about what is profitable or not will continue until and unless each person adds his trade explorer to his signature.

We are not ready to be accountable and as such not ready to be successful if that option is not adopted here on FTA.

The same way we are quick to tell those coming to sell anything here to show us their trading history, lets do same for ourselves starting this new month of June.

I challenge one and all to embrace accountability and transparency!

Change begins with you.
Please lead the way, since you're the pioneer

XAUTrader4L2:
That is not the only problem, the full quote is "Trend is your friend until the end when it bends" - Ed Seykota. Knowing when it bends is another problem.

If you think that's a problem, then you're looking in the wrong direction. All a trader needs is to make profits within the trend; not predictict the extent a trend can go or the end of it.

dmahn:
Trend Following by Michael W. Covel

Trend is our friend. That is the axiom no one doubts. The only problem is that it is not that simple to follow the trend. Covel describes a profitable and efficient trend-following trading strategy to adopt.

I respect the guy plenty, but he has some big pitfalls sha (in his statements).

dmahn:
If you have good books on trading kindly inbox me. I will be very grateful.

I've come to realise that watching YouTube videos is never enough, it will only teach the technical aspect of trading. Books expose secrets, it teaches more of market psychology. I don't have any boss in trading except those books.

The reason why some people are loosing and will continue to loose is always trying to pick the bottom of the bottoms This book taught me I have no business finding the exact turning point of any trend. It's normal to let few of the profits go just to get a confirmation.

This is definitely Michael Covel speaking in those lines; a great teacher that man is.
You should read up Mark Douglas too ( author of "Trading On The Zone" ); knowledge undiluted.