₦airaland Forum

Pipsmarshall1:
You have yourself dont lose you.
Because you don't see trading asa business. Its just a stage tho, Once you don calm, you go understandthe business of trading for a living is a different game.

Its just a stage. But what are you doing to stop it from happening again?

Come for mentorship: 50k naira for 10market days mentorship

Don't you have fear of God?

greatcheer:
Yes am using excess now and it's better than FBS and Hantec market

Same here. Withdrawals are mostly processed within 3 minutes.
No silly swap charges and so far they are good with respecting stop lossses unlike most prop firms.

Emmizay12:
There's no problem living off trading
The issue with living off trading is when you are undercapitalised

If as a Nigerian you have $20,000 or $50,000 raw cash in your trading account, how on earth will you not be comfortable making $100 approx N160,000 weekly to cover for feeding, fuel and others. (I'm even being modest)

When you see a Nigerian here bashing the idea of living off trading in Nigeria, he's thinking ur account is $200 and you will only survive 1 month if you are good

just understand that poverty is talking...

Forex trading need skills, discipline and
Capital (not prop firms)
Capital is the 4th most important factor after strategy, psychology and risk management.

I believe one can even trade for a living on $200 account but you really need to know what you're doing to achieve it.

Knowledge and discipline above capital in this business.
Besides working may not necessarily be for the money persay but to keep your mind away from market to avoid seeing what isn't there.

Once you've taken profits, you can call it a day as entering immediately can spoil things or make you give some of your profits back.

Wait for next trading day. Market is not running away.

You can even withdraw some of your profits to flex to know that this is real business and not a game as some call it.

Avoid revenge trading or trading out of boredom. Worst is increasing your lotsize out of anger. Market has zero joy at such moments, panic usually sets in and is that margin call?

Don't have a fixed mind in trading or try to be right. Market can change direction without prior information.

Don't try to increase your stoploss from say 30 pips to 300 pips hoping that market turns back in your favour.

See stoploss as your best friend. Remember you'll make money with time but you need funds to last enough for you to see that favourable day.

Geovanni412:
The idea that you can make money on fx market as a jobless individual is more likely to live you frustrated and suicide prone rather than put money in your wallet

Bills don't respect market volatility and the journey to breakeven is hard, whilst the journey to profitability is herculean

In this t-pain economy, losing money is like using a surgical blade to re-open a healing wound.

This post is underrated. The number 1 goal of a forex trader is to keep his account intact. Profits will come eventually.

Not saying you won't lose money atimes but it's better to lose 30 or 40 pips than to lose 200 pips.

Minimize losses by setting realistic Take profits and know when to break even to avoid losses should in case you're caught in a pull back or correction.

Someone rightly said that nobody really graduates from this business. There's always something new to learn, relearn or unlearn.

To avoid being liquidity yourself, gauge market sentiment by looking at candlesticks and direction before entry. Timely entry is important as some enter when the move is almost wrapping up due to FOMO: fear of missing out.

MeNmyfamily:
Would you advice a new prospective trader to learn Forex or crypto trading? Why/why not?

For me I'll suggest gold because it has both volume and direction.
If you study it's movement you'll be happy for it.

But whatever you do, avoid over trading it( scalping) and big lotsize.
Day trading as one can wake up and see profits disappear.

This is my opinion. Marry fundamental and technical but know that major market participants can ignore fundamentals atimes but that doesn't mean that fundamentals don't work in normal market situations.

Finally avoid selling at a SUPPORT or buying at a RESISTANCE.

Gold Alert

Sell limit 2420
Stoploss 2430

Target 2340

Donsheddy:
Fundednext payout came in today after waiting since on Thursday...
And they also included an additional 1000$ to say sorry for the delay....
Never give up...
At the appointed time you will be amazed at how everything will be working for your favor omor...
Meanwhile gold sell still on..
Maybe make person secure next withdrawal

Congratulations. More wins Don.

Wednesday is likely going to be a corrective buy.

BeginnerTrader:
Like I said earlier on Gold, today likely be indecisive. Tomorrow will confirm whether buyer on seller will take incharge. But good trade will come from Wednesday when the trend will be established. I can have a quick scalp tomorrow depending on early momentum.

Sell gold for 300 pips

CaptainJune:
I may have acted in haste. Sentiment on the D1 chart is clearly bearish. I will be watching the current candle. If it closes bearish bulls will be slaughtered on EU and gold. Annoying that I exited a great sell position.

Trust your instincts. Gold may buy to 2448 region.

Fxwarrior:
Gold Alert

Buystop 2473
Stoploss 2463

Target 2503

Use this trade to recover from draw down.

Gold Alert

Buystop 2473
Stoploss 2463

Target 2503

Waiting

Okay

Gold is heavily supported. The bullish move will be crazy.

2500 region may be possible this week.

Gold is strongly bullish. I expect today, Tuesday and Wednesday to be bullish.

Thursday may likely be bearish.

Gold to reach 2460 region on or before Wednesday.

Sell gold 2405
Stoploss 2415

Target 2385

XAUTrader4L2:
As much as I like the daily timeframe for gold, I also wanted to day trade but never seemed to find the strategy that worked for me. Last week, I saw a gold day trading strategy and decided to backtest and tweak it. I backtested for the last 3 months:

April: 4 trades
May: 3 trades
June: 5 trades
Total of 12 trades with the target of 1000 pips (100 pips for currency traders) each, the rrr is either 1:2 or 1:3 depending on the trade.

Started forwardtesting today and this was my result for this morning. Will continue to work on it. My daily timeframe analysis still remains.

I once shared this strategy here. I am glad you found it useful. It's based on fundamental analysis.

MDBrand:
For anyone who's trying to get a funded account, you can use this link to buy a $500 account for as low as $5.
http s: //bit. ly/ 4cr00lQ

Remove the Spaces

Is that fundsfortraders?

Their total drawdown is 6% as against 10%.

Nobody here has withdrawn from them.

I see a choppy market looking for liquidity.

Stay safe.

Has anyone made a recent online bank deposit or withdrawal from Exness?

There's a notification showing Temporary delay.

Hi

Slimtuns:
The candle stick closed as a doji which signifies indecision between the sellers and the buyers. This is not what i would call a confirmation that the market is still in bears even though I know that gold is long overdue for a retest to the 2212 and possibly 2145 area, we can only be sure if next month closes below or immediately the 2285 is broken but of course as a day trader, I'll be making use of lower time frames for my trades while waiting for the confirmation.

So what type of doji is it? Bullish doji?

Davigle:
Bossmi, e ma bi nu si mi

ebi like say your gold chart dey very different from us ooo, because I don't understand how gold hit 2360 this week, the highest price gold reach this week was 2339 and that was yesterday Friday before it sold off to 2325. 🤪

I took about 4 trades this week and the over 600 pips is what came from them. It seems you were sleeping all along when I manually closed them.

Slimtuns:
The month opened at the current H4 breakout, a lot of USD high impact news for this month have been weak, dxy currently at H4 resistance. Not sure the month is ending bearish, let's see how it goes.

How far?

Fxwarrior:
Gold

Sell 2328
Stoploss 2333

Target: To be closed by 5:00 pm today.

Trade closed

Gold

Sell 2328
Stoploss 2333

Target: To be closed by 5:00 pm today.

May every week be like this week.

Fxwarrior:
Gold

Buy 2320
Stoploss 2315

Target 2360

Trade closed

Over 600 pips banked total

Slimtuns:
Gold has made a reversal already. Focus more on buy next month than sell... Not sure it's going to retrace back to 2285 till it retests the ATH

Always look at your left, analyze with HTF and enter with LTF

This month is likely closing bearish so you can't rule out bears yet until 2450 is broken.