₦airaland Forum

blackman007:
There’s something that still baffles me about trading, it is widely speculated that market changes and evolve every day and we should adjust as regards the changes and this is where I’m confused, does it mean we should change our strategy and system too?? I don’t really understand, I’ll appreciate it if someone can shed more light on this concept… so that other traders can learn too, because I know that others are learning as my bosses on this forum are doing justice to the questions….

Everyone with different system. But the only truth about the market is people must place order if they want to buy and also place order if they want to sell. Be it banks, be it big companies like Mercedes, Toyota etc. They must place order which is the major reason prices moves up and down.

All you need to do is work out a system that makes you know when the sellers are about to take over, and you join them selling or buyers and join them buying.

Just one tip: For example, price blasted through a resistance zone, most late sellers would definitely be stopped out with this whoosh, which in return should creates floods of buy orders because you have to buy to get out of a selling position which should continue the price moving even further up.

But for one reason or the other, you noticed price is not moving further up, instead it started stalling. That's a cue that there are lot of sellers chewing all the buy orders at that zone. If price should eventually close back into the resistance zone that was broken. Enter a sell with your stop just above the recent high and you can use the next support zone as your TP.

Could be a 1x risk reward, could be 2x. Your take profit should be determined by market flow and not a rigid 1:5 even though it's unlikely price might get there.
This is not a how to trade guide, but instead to understand what happens behind the hood.
These order flows are what moves prices and nothing more.

That's the reason fundamentals believe news is the catalyst, news give people reason to buy or sell. It doesn't decide price direction. That's why sometimes, a particular news comes out favoring the US dollar, but you see gold moving mad bullish even though fundamentals is screaming sell.
The people participating at that point in time probably didn't give a hoot about that particular news and decided to buy gold instead.

Then you see fundamentals guys comes out with various excuses as to why price didn't go the way of the released news. You hear things like manipulation etc. It's all nonsense, don't predict but react to what you see.

More buyers than seller, price will keep shooting up till there are no more buyers to move it, then it starts dropping to find more buyers, if the sellers saw the fall in price and believe price is going down and started pilling up sell orders, then price keeps dropping till the sellers meet more buyers and it starts rising again. That's just it.

blackman007:
I have gone through the 4pages and I’m like wow..God bless you for this sir… I can’t thank you enough

You don't need any more technicals skills. You just need discipline and backtested data to build confidence in any system you decide to stick with.

Don't go live again till you've built that confidence demoing and following your own personal rules strictly. Wish you all the best.

blackman007:
Okay sir…

I've really made up mind to not meddle on this thread affairs again after some attacks awhile back. But I couldn't help but reply because of your honesty about your struggle. After checking your old posts, I discovered you've been soliciting for trading helps months back.

Now, first of all, most of the advises you were given here are majorly from traders that are still struggling as you are too. What baffles me is why would a struggling trader be advising another struggling trader when they can't even grasp it themselves.

Back to the topic, I think you maybe asking for too much by looking for a 5X risk to reward system. You are going to need a very strong psychological frame of mind to handle the heavy losing streaks that comes with such system.

Instead of typing long, please check out this forexfactory thread. Copy the link in bracket here : [forexfactory.com/thread/993625-how-to-be-consistently-profitable-but-i-bet?].

It has everything you need and more. Just 4 pages. Read and assimilate.

It's as if it's written for you. I wish you all the best.

It's easier said than done, how many young men here are currently dating ladies whom does the above qualities she mentioned at the beginning of her epistle?

It's easier to find a virgin at a night club in Lekki than finding such girls now in that Nigeria.
Before you meet the little good ones, you would have met the unfortunate ones that you'd have forgotten what the word love even means anymore.

CodeTemplarr:
I will travel down to 1970 and buy a truck load instead.
Timetravelling is the way forward but dont travel into the future Nigeria o. Too risky.

Haha, anyone stupid enough to try that won't even be able to afford his/her transport fare back to the present.

It's just the sad reality on ground. The poorer a country becomes, the more desperate the citizens becomes. Majority carries the vote, most Nigerian young ladies are into prostitution. Sugarcoat it how you want, it is just what it is.

Maybe by hookup, or whatever they call it or by multi dating etc.

I don't know why some of these online miscreants don't think about their loved ones, relatives before they act like nuisance online.

You don't have shame enough to act stupid online, it's all fine. But please, remember those related to you that you might bring the shame upon as well consequently by your actions.

Praxis758:
She should have raised alarm so that those nuisance would be dealt with.

Anyone still falling for this is a dunce.

Raise alarm? Make dem strangle am inside the cab. These people no get joy o.

NikolaTeslaa:
Thanks for your audience Ser, I really appreciate...

God bless you.

Firstly, After going through the (Dapo's) course... I figured I preferred trading break and retests of key levels only... (In line with the trend of course)

My question is; Do you strictly trade retests too and how is it like so far?

Secondly, you said in a comment that you've been able to refine your entry to give you 20/30 pips sl or so..

Personally, I enter on specific candle sticks like Bullish/Bearish engulfing, Morning/evening start and the hammer...but my sl is usually a bit higher... Would you mind sharing your entry model with me sir?

I'd like to see if it's something I could work with and fine-tune to my preference.

Again sorry for the inconvenience sir.

That's where you are making mistakes. All you need to do now is, whenever you spot your entry candle sticks or whatnot. Don't enter immediately after the candle closure, but set a limit order below it.

How do you do this? Let's assume you're trading gold for instance, and you intend longing it. Your signal candle closed at 2240.00, and your stoploss was supposed to be at the tail of the supposed candle or little below that at 2225.00. That's like 150pips in stoploss. And you also intend setting your takeprofit at 2270, making it 300pips in takeprofit.
That would just give you a 1:2 risk to reward.

That entry model is for learners. What you should do instead is not entering immediately at that 2240.00 your candle entry signal closed, but set a limit order at 2232.00, because price will usually reverse down on the next candle a little bit before continuing further up most of the time.

So what you do now is set your entry at 2232.00 and stoploss still at 2225.00. You now have just 70pips as stoploss, and if you're to buy to 2270, that would give you 380pips in takeprofit. This method alone will increase your risk to reward to a staggering 1:5+.

The downside is, of course you will miss trades a lot because some if not most may not come down enough to your limit order to trigger you in, but if they do and the trade plays out, the risk to reward will be worth it.

It's not a must your limit order must be that far, but at least I hope you've got the idea I'm trying to talk about. Don't enter at candle closures, you're buying at overpriced levels, try setting a limit order below or above depending on the market direction.

NikolaTeslaa:
Cc Geedot

Good day sir, I trust you're good

I came across some of your posts on the Forex thread and they happen to be really insightful, thanks for your contributions.

What really piqued my interest is the fact that you trade simple price action and personally, I.just got Dapo Willis' course.

I don't know if you'll mind but I'd like to ask a few questions sir.

I'm sorry to barge in on you like this, but I'll really appreciate your response

geedot

At all, you can shoot bro. What would you like to ask?

Mandate1:
yamal wetin? For scoring against Germany. Aside dat match wetin him play?
Williams is far beta than him in this tournament.

Even Williams wouldn't say the same thing you just said, maybe if you had said Olmo or Rodri.

karnap:
Waiting for Argentina Colombia match
thats a cracking game
this one no too sweet me.
but hope spain win and Yamal win player of the tournament. and UEFA golden boy

It's not difficult to spot a Barça fan, very loyal people. We only supported Brazil and Spain when Ronaldinho was in his prime then, and now only support Spain and Argentina during any international competition.

But you see Man Utd Fans for example, they support Portugal for Ronaldo, Spain for De ge Gea, Argentina for Ganarcho, England for Shaw and Mainoo etc. Lol

maxiuc:


I hope they will later be allowed to go for NYSC

It will never happen. This government can't afford hundred of thousands Noun students graduating yearly going for NYSC.

These people and sugarcoating. Even market women can recognize those boys by mere looking at them. What intelligence tipping is needed again when the boys already made it easier for them to be arrested.

They dress same way, have the same hairstyles, use same phones, are always in same location etc.
Una go arrest tire.

The love women have for their family is almost the opposite most of them have towards their partner. Imagine what a wife insinuated, she is understanding when it comes to her family being broke to take care of themselves. But she's showing quite the opposite when the man shouldering the burden complains.

But on the other hand, she's given you the option of finding a way to feed them if you had told her so. So just tell her that you can't anymore, so she should shoulder it too.

But be prepared for what comes after. Afterall, a "happy wife is a happy life". So if you go ahead by withdrawing support for her family, be ready to face the consequences.

In a country that works. Can't imagine same judgement being passed here on a Governor's child not to talk of the Presido.

Freshtruth:
Everybody dey win for their home he reach our turn we dey mumu


3games that means we have to win all our remaining games to qualify for the world cup how is. It possible lol . Nigerians this world cup otilo

World cup wey boys wan take enter Yankee, na hin these boys dey take play like this.

The chat is so funny. Olamhi na comedian
The girl probably ate the role without crumbs. The picture alone looks scary. Lol.

The meat was so small that I zoomed the picture, but still didn't see it. Tinubu 5 - 0 Nigerians. The stark difference in the picture quality shows why the latter was 1k more expensive than the former. The extra 1k was for the location, better looking plates and packaging overall. It's worth it if you asked me.

Arsenal topping the league is like an Elephant on a tree, how it got there, no one knows, but one thing everyone knows is that, it's gonna fall .

Putting this here again, so I can use it to troll the Ass people next year again.

After one year, this my post is still valid. Arsenal giving her fans A.nal.

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PriceActionZ:
Lolz. Why are you always feeling like god of forex sir? As in say na you dey control the market🏃🏃🏃out 😆😆😆

Feeling like a god? Really? I'm a lot of things, but pride is the least of my personality. Why would you even utter such to someone you know little or nothing about?

I've been on nairaland for years now, this is the worst thread I've ever been on. The toxicity is something else, and it's coming mostly from the struggling traders. I wish you the best. This is my last post on this. Happy weekend brother.

demanuel:
Good Day Boss.
If you don't mind, could you please share some of your insights on your own thread? To help those who are eager to learn.

I'm newbie still practicing on a demo and would like to learn from you.

Thank You.

Alright bro, maybe I will find a way to do that. But, please unquote me, some information are not supposed to be online for everyone to see. Modify your post, and unquote me. Thanks brother.

...

Frank571:
Rest

One thing that's funny about this post is that, I'm telling you and other newbies that this stuff is easy and not that difficult as your mentors and your giveaway givers made it seem. But one way or the other you feel I'm spitting sh.it.

So funny, typical Africans that love their leashes around their necks. I hope y'all find breakthrough. If you love this guy's post, I don't even need to know you are struggling, or either you're one of those "OGs" that claimed forex is rocket science. Either way, y'all should have fun before giving up. I'm outta here like others before me. Ciao.

Frank571:
Rest

Okay sir.

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Y'all know I don't preach too much, but Forex is so easyyyyyyy. May God open our eyes all🙏.

You need to get to a stage when you know everyday is not a favorable trading day or everyday will never be a favorable trading day.

Then secondly, you need to be cool with not trading for a day(s), even if you're a Scalper or Day-trader. But if you still struggle to accept this simple reality, I think you're not fully ready yet.

Patience is really underestimated in this business.

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