₦airaland Forum

GabsonFX:
Another US$8,110.28 made on my $100K FTMO Account

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I got this new account on the 21st of Oct, I think I will stop trading on this account, onto the next one. I'm OK with this profit on this one. Since I already made US$11,382 just 2weeks ago, added to this will be $US20,000 ish total profit this month. I think I'm OK, and will relax again till this is fully withdrawn.

I remember Elliotwaveforec asked for the metrix of my previous withdrawal, but this is the one for this for the house to see through.

https://trader.ftmo.com/metrix?share=1ac2011be97a

Profits to be withdrawn on 4th Nov (7days time)

My present aim is to now target the account scale up, I have surpassed the requirements already, which is 10% total profit within 4months. My account will b scaled to $125K and profit split will change from 80% to 90%...

GabsonFX:
At first, this cracked my ribs; but then I thought I should educate you:

She got the grace no because she's a woman but a mother. Being a mother is NOT the same as being a woman, in other words, you can be a woman and never become a mother for life.....get the gist and chop kiss

OriginalSatine:
@gasive can you please help me out, how do I rejoin after creating the new 50k account

successsam121:
Not too late sir. You may wish to consult bobrisky.
@Gabsonfx is just a simple and kind hearted.....
Abegi, make i sit up, the competition don start.
Abi wetin I know sef?

Still a humble learner.

ogashman:


Comrade rest na

GabsonFX:
Yes my main man, don't worry, very soon I promise; I hope to land anytime soon - we can hang out.

boom99:
Bro. I want to confirm again if I am to use one pair only. Say USDCAD although the competition?

MONEY247:
Pardon my disturbing....I didn't see the leverage to use...

Thanks

MONEY247:
Didn't take the last one....
But this time around I am taking this challenge....
@Gabsonfx...are we to trade only one pair..sir..?


And how long would the duration of the challenge last.?

GabsonFX:
The NEW $US50K Prop Firm Challenge/Funding
LINK: https://www.fxblue.com/competitions/ViewCompetition.aspx?id=1448&rx=1634947248003

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PROFIT SHARE
---------------------------------------------------------------------------
The Prop firm gives us 55% of profit
Out of the 55% remaining profit, we refund the $290 challenge fee
We then share the remainder at 50:50 (You win, I win)

Modified: added
If no one meets the 5.5% profit target this time, I will share 100K amongst the 1st 3 on Dec 23rd for xmas chicken
1st: ₦50,000
2nd: ₦30,000
3rd: ₦20,000

GabsonFX:
WHAT WOULD YOU HAVE DONE?
The 2 things I want to talk about are: 1. Know where to hide SL and 2. Strictly follow your rules: exit & exit - Ignore emotions from the current happenings

Great contribution from you all.
Gasive is 100% on point, always respect your analysis for entry and exit.

Same for Donvic4u and in fact perfect: entry and exit rules, engulfing candle? get out immediately; stay aside for another opportunity.

kubusify, hmmmmm, trailing stop loss? I have used in many years ago but it is not efficient as you would believe it to be; why? it limits your potential for good profits, especially with gold. When you trail profit, I see it as a guesswork cos no one can tell how much dip price can go; also those doing BE - price is meant to go up and down and while doing so, taking people out of their positions, you don't want to be one of them. When the final price movement would be 100pips, but went first to 50pips, then you set your SL to trail, thenprice moves further to 70pips and now down to 40pips, it takes you out of the trade, then starts its journey to the originally intended 100pips....I don't trail, I don't advise it.......Finally, I always tell people, when you set your SL from the beginning of trade, what you simply tell the market is: take this SL gap, that's all I can give you, now you can manually move the SL once or twice when price goes far away from your entry in your favour, but not to now choke the market by moving it into the price area using the trail.

Succhris is 100% on point, it depends on 2 things, your SL or TP % profit expectation: this is how I trade. On that gold trade, I aimed at $50,000 profit and nothing less, OR if I see a reversal pattern, unfortunately, the reversal pattern came big. You are 101% correct.

Samfelly, on point: watch out for a reversal pattern and get out immediately; but don't be too much in haste, wait for it to fully form before exiting. But as for regret, never ever regret when market takes back "floating" profit; and this is the mentality I want to instill in us here: as long as it is floating, it is not your profit yet; allow the market to do its own thing, and when your strategy tells you to exit, then exit. As for me, if my profit goes from $50,000 to $10,000, I have no atom of regret that I lost $40,000. NO NO, you did not lose it cos it was never yours in the first place - it was floating.

daydeji, same reply as Kubusify

Femora, good one, on-point - same reason as above.

Charly20, you are absolutely correct: SL or TP or reversal pattern, you are out......no trailing, move your SL manually, if you have to but not to choke the price area. As for if you would leave it running for now, I completely agree with you again but it depends on what TF you took the trade: I normally trade D1 but due to many reasons, I have been trading on H4; look at H4 and H1, the bearish engulfing candle tells you to get out; but if I had taken this trade on D1, chai, I will still be rolling the trade by now. So the TF where you take the trade is paramount.

Finally, my lessons are:
1. Know where to hide your SL, for me, the best place is always the recent swing low or swing high, this could be because I swing trades (I don't mean swing trading style here), I don't pick tops or bottoms; if your strategy is about picking tops and bottoms: there is no way you can place your SL at the recent swing low or swing high.
Why do I place my SL there? it is to allow price do its thing and if it takes my SL, I know for sure that that trade is not for me: doesn't mean the strategy is wrong, just that that trade.
Avoid moving your SL after you set it, look at today's gold trade, went from $14,900+ profit to $0, if I had moved my SL to entry level (BE), I would have been stopped out; then see that price then moved again to give me the $4,900+ profit.........AVOID MOVING SL - YOU ARE TOYING WITH YOUR EMOTIONS DOING THAT.

2. Many will say, ehh, you lost a whole $10,000+ that could have been yours back to the market...for me, I just laugh sincerely (I'm serious). the profit wasn't mine anyway, my system never told me it was time to get out. so, please follow your rules strictly and don't let floating profit or loss move you (emotionally). the same thing, if my account was reading -$5,000, I don't panic except it hits my SL then I know that was it. Trailing would limit your potential for greater success, it's like one is scared of market movement and wants to trap it everywhere it goes....trust me, it will come, pick your trailed SL, and go 500pips away in your predetermined direction...Actually, the $10,000 difference never bothered me an inch, I wasn't even seeing it cos my trades run while I'm at work and don't bother check until another 4hrs or day.

3. Take your profits by % target met OR by your set exit strategy NOT because profit is now a particular amount...NO

Cheers

GabsonFX:
OK, I'm a bit free now: I said I would teach the house on 2 major lessons especially from my last trade.

B4 that, I want to inform you that I exited that US$14,900+ profit at US$4,895; I'm a real man here so I have to update you all about the outcome and not just a floating profit; many do this to entice and blow people's mind without any particular lesson to pass across.

Now, I want us to dialogue on what your take is on this trade:
Please take time to look at H4 to see a detailed view of how gold behaved between yesterday and today.
Would you have exited when I was already bagging US$14,000+ or would you have waited like I did and bagged the US$4,895?
Will you be pained for that?
At a point today, price returned from my $14,900+ to entry point (US$0) - see that bearish candle on the 4H. How would you have reacted when you saw this?

Let me hear from you all as we dialogue, then I can discuss the 2 lessons..................................WHAT WOULD YOU HAVE DONE?

Fibonacci88:
Phase2 Evaluation with MFF succefully passed. Waiting to get login details and start trading $10k Live acc and bag real profits. One thing I have learnt in this prop firm journey is that it instills discipline which is the key to success in this business. I had to cherry pick trades and focused on just Gold AND GU. I never believed I could master gold a pair that blew my $500 acc with IC market last yr in less than a week. With the rules in place overtrading is avoided something we don't do when trading personal acc. Like someone mentioned earlier, using percentage growth is a better measurement of progress than quantifying ur profits in dollars. Shout-out to all the bosses for the motivation it won't have been possible without d positive vibes here.

Neroiam:
na me be brooktarader

Neroiam:
impressive

GabsonFX:
I mentioned last time that I had stopped trading for the month and profits withdrawal to take place on 20th. Here we go.
Both profit share and my fee refund landing

Still motivating someone out there, fx is is the sweetest thing I know

Fibonacci88:
As at 1pm I needed just $5 to complete my prop firm verification stage 2 target oboy na $5 I dey find since I loses $80 I just had to close my laptop and concentrate on my job b4 I lose all my profit looking for $5. U see this trading once emotions enter u go fail. However I hope to bag d remaining dollars before next week and earn a $10k funded account.
Gabsonfx thanks for the inspiration

charly20:
Good morning, everyone.

I officially made it to 20 today!

It now makes sense to be addressed as CHARLY20

I'm happy to have associated myself with this community. It's one of the best decisions I made this year and I'm grateful for knowing all of you (though virtually )

God bless us all!

Feshizzy:
Na wa oo,
Just saw chat a again,
Pipes travelled 30 pips from my closed trade,
I had the mind to still keep the trade open,
But mhen, i don't want to be greedy.
Garri wein dey house better pass rice and chicken wein person promise.

We move.

Feshizzy:
Normally una know say i dey like give update for wettin i start.
Finally, my EU buy since September don finally close with 236usd
That's about 10% of my account for the month,
I can decide to take a vacation till month end.
But we must keep pushing forward
I dey monitor the trade day and night,
Forex no be beans ooo, if your skin no full, commot body

Piptocoin:
[color=indigo]I understand and admire Samfelly's desire to help. It shows he means well for his fellow human. If everyone in the world thought like him in this case, this world would be a mini heaven. BUT, I would advise against trading for somebody. It could go either ways — good or bad. If it went the BAD way, his sincerity and noble motive would be overlooked and he would be blamed forever in the history note book of the account owner while he may only be thanked or given a token not worth the stress if it went the GOOD way. Not WORTH the STRESS.[/color]

haryodehjia:
Dear Esteemed Client,

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http://hmarkets.com/beat-da-don/?entity=hmm

dennison4luv:
which remaining balance? the account has gone, i only have one account left. I am looking forward to subscribe to prop firm, so i can only trade to get 10-15% of my capital monthly

Feshizzy:
Your follow ups is great.
Kudos mate

Gasive:
The pairs on my watchlist.

1) UsdCad ;
EP - 1.2550.
SL - 1.2600.
TP - 1.2300.

2) XauUsd ; ( i bought this pair cause i saw a potential bullish breakout. It happened but didn't hold. It means the bears are still in charge. I will close the buy on market open and sell.)
EP - 1755.
SL - 1762.
TP - 1600.

3) ChfJpy ;
EP - 120.40.
SL - 119.70.
TP - 125.50.

4) UsdJpy ; ( I feel this pair may still retrace to 111.00 area before buying, so thread with caution.)
EP - 112.00.
SL -111.50.
TP - 115.00.

Please share your thoughts...

dennison4luv:
My second live account burnt to ashes today and the first is still in danger. The live account has been in danger since last week, on Monday i took my flight ticket money $380 and split it, to my two live account hoping to pull out the money by next week, i believe the trade will bounce back after breaking the lower low of this year. On Tuesday the market was still digging deep, i edged the pairs on Tuesday afternoon, from Tuesday evening to Wednesday the pairs was pulling back, i closed the edging pairs with hope the market will bounce back, i lost $98. From Wednesday evening to Thursdays morning the pairs will move front and come, just like a trending market. I left it to do other things, as I came back this evening I find my account no more. My travel to Senegal and Gambia has been postpone to 2 or 3 weeks till I get money for flight ticket or the worst I use land.
I just learnt to never be angry with stoploss. I stopped using stoploss when it always cuts me off before going to my position..
I have not been sad since this eveing, I just branch to take some liquor so I can sleep very well.
This forex trade we must make am, naa only time e go take

GabsonFX:
On my recently funded US$100,000 FTMO account, I just achieved a profit of US$11,382.65 today.....I have stopped trading for this month, waiting to process withdrawal on the 20th of October.