₦airaland Forum

Uj close to norm at 109.697 but will wait for it to come to m*fu at 109.50/38...that should be first entry,still watching.

There seems to be another 1000+ pips in sight...watching pairs for min norm tgt to be valid.
After this 1000+ maybe then we would go for another 3000+ pips or more. I was able to give only 1700+ previously but hope to meet this tgt this time around.
SHALOM

Lots of moves so far...personally enjoying what the market is offering. Price is currently in a mixed zone for the pairs I am currently watching i.e the r:r is low now,so will be watching what happens in a few days from now.
Gj 142.** in sight while uj got 111.** with EU having .06** there about .
Still waiting if GU will come to .263* ...watching gold too but no reasonable thing(move) yet.
I STAND ASIDE.
SHALOM
Edit: EU is .07**...then uj 109.70 before that larger norm above w/o a new hh

Hahaha...where is that guy that took gold sell with me. Oya close it sharply now now ....
Now left with only GU sell,expecting a drop off.

Sorry guys,we couldn't hit the 3000+pips as promised cos of the election... The plan was to get several entries along the way but the election took price to TP too fast.
Am off all trades now,left with gbpusd sell and gold sell too. I personally made more than 3000+ pips I think (3500+)...pics tells it all.

priceaction:
You see reason i closed all my open trades on friday? it is expected. Which way? i didnt know but hunting SLs will always be their ways in such an upcoming events. Over 350 pips on EJ too. Hope you make money , bro?

Am one hearted trader bro and the trend is always my friend.
Gj hit TP like mentioned before at 141.** I have to close manually now...I didn't take the Audjpy trade but I gave it here...uj hit to too.

There is a 200pips gap up on EU currently...uj currently at 110.** ...hoping reality turns like this.
Election things

Please don't get offended as I used servant as same as secretary... That's how I see it,to me no much difference.
Thought to say this before I get nailed for this.

The way I think and how I play by the rules of my trading... I would rather be BILL GATES personal servant (secretary) following him everywhere and anywhere than be one of his company managers,the reason being its more profitable to serve than to lead especially when you are not the BOSS.

Afterthought:
As a personal servant(secretary) following him everywhere and anywhere,automatically I attend all his meetings,seminars or annual report meetings even with the managers . while the managers will meet him only during just company meetings but I will get to learn how he thinks,communicate,respond to people and lots of things and even his perspective of life generally.
I would have learnt enough to start something just as big because the servant is always greater than the master if he served truly.

How it applies to trading: why ride against the trend ? Why being concerned about what the pro think or do because personally I don't care ? All you want are on chart already. Just follow and serve first then use the information I.e when you see a change in trend, don't jump in at once observe for a while with a lower TFS for some criteria for trend change then enter at same lower TFS before the trend change occurs in the larger TFS and you would have used the information learnt to your advantage.

It's been a nice time reading and posting stuffs here just to inspire...Some of the stuffs posted are not entirely mine and was copied while I also edited it.
Do have a safe and wonderful trading week ahead.
SHALOM

The Meaning of Discipline

I've achieved several things in my life because I have the discipline. So far I am finding it a new challenge to be disciplined in trading. Is it a different form of discipline?

I need to critically analyze my situation. Why am I failing?
Make note: I need to study all aspect of being disciplined.
.....
I have only two objectives when I trade; Entry and Exit. Nothing else must occupy my mind. I can entertain myself with all the richest ideology when I am not trading.



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Explanation:
What is the meaning of discipline and what does it mean to be disciplined? Have you ever asked yourself this question? Can you answer that question? It is hard to perform something (discipline) if you don't know what it is or don't know the dynamics that makes it work.

I never liked most of the definition given to discipline because it doesn't explain how discipline actually works. Here are some definitions in a dictionary of what discipline means:

Discipline -

Training expected to produce a specific character or pattern of behavior, especially training that produces moral or mental environment.
Controlled behavior resulting from disciplinary training; self control.
Control obtained by enforcing compliance or order.
A systematic method to obtain obedience: military discipline
A state of order based on submission to rules and authority: a teacher who demanded discipline in the classroom.
Punishment intended to correct or train.
A set of rules or methods, as those regulating the practice of a church or monastic order.
A branch of knowledge or teaching.
So, knowing the definition of discipline isn't going to help you to perform discipline. Only by understanding how it works may help you perform discipline. So when someone tells you to be disciplined, you keep failing because you don't know exactly what you are suppose to be doing.

You might have heard the analogy that discipline is like a muscle. The more you use it, the more you build it and the more disciplined you become. I don't really like this analogy because it doesn't get to the root of how discipline really works

So let me simplify discipline in a simple formula:

Discipline = Getting it Done (Focus)
D = G (F)

Discipline is simply getting it done, just by doing it (just do it) you have performed discipline. To accomplish an objective is performing discipline. An objective to hit the gym everyday is to show you are performing discipline. Without any interruption to the objective. Accomplishing the objective without a halt. To perform discipline in trading is to accomplish your set objectives/trading plan/set of rules without interruption or derailing. Accomplishing (getting it done) an objective cannot occur without focus (F). You see, you focus your energy to get things done. Focus is the crucial factor in getting things done.

Here are example of failed disciplined:
Failed at losing weight: A person (bob) set an objective to lose weight. One of his goal is to not eat junk food/fast food. He failed because he ended up eating junk food.
Let's analyze what just happened. Bob couldn't get it done because of lack of focus. You could say he gave into temptation. Giving into temptation is losing your focus. Here are some of the things that were going on in Bob's mind (junk food taste so nice, hmmm yummy, just one won't hurt, a feeling of satisfaction). These are distractions that runs through his mind if he is not focused.

A person failing to exercise: I'm tired, I'll do it tomorrow, it's raining, it's cold, it's late, etc....
A person who is lazy: I'll do it later, I don't want to do it, I'm tired, I don't know how, etc...

A Disciplined person: Just do it.
This is the main thought that occupies a disciplined person and usually nothing else.

The bottom line is that a lack of focus leads to excuses and distractions, which will lead to unaccomplished objective (undisciplined).

Undisciplined trader during trading: I'll be rich, it will turn around, just a bit more, because of x it should go up, I'll enter before everyone else does, I can make a quick profit, any other excuses against a trading plan, etc...

Disciplined trader during trading: Entry, Exit and nothing else.

To achieve Focus requires concentration not to get distracted. To achieve Focus you must eliminate the distractions. Lack of Focus leads to excuses/distractions, which will lead to unaccomplished objective. Getting things done requires a degree of Focus. Getting things done is discipline.

Discipline = Getting it done (Focus)
D = G (F)

When you break it down: Discipline has nothing to do with emotions, but emotions can distract/destroy discipline.
No amount of positive self affirmation is going to get you disciplined or get the job done. Actions (Just Do it) gets the job done... And actions are only triggered by a sharpened Focus (F).

Personal Development is an Important Part in Trading

"Men are anxious to improve their circumstances, but are unwilling to improve themselves; they therefore remain bound. The man who does not shrink from self-crucifixion can never fail to accomplish the object upon which his heart is set. This is true of earthly as of heavenly things. Even the man whose object is to acquire wealth must be prepared to make great personal sacrifices before he can accomplish his object; and how much more so he who would realize a strong and well-poised life."

~ James Allen



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Explanation:
Trading requires 2 things:

*Psychology/discipline (mental training, emotional quotient)
*A proven system/method or strategy (Entries, exits, money management)
A proven system cannot work without the proper discipline to execute it. And discipline alone is useless if not applied to anything - a proven system.

Let me illustrate the importance of personal development:
Imagine that a proven system is like a car. To use the car (proven system) to its full potential requires a driver. Without a driver, the car is useless. Also, you can't just put anyone behind a wheel and expect them to drive. A person must first learn how to drive (personal development).

This is the reason why personal development is more of a priority. The driver is the key element, but first you must develop a person into a driver. You must first develop a person into a trader. You cannot just place any person behind a proven system... because they won't be able to drive the proven system.

It is not all about Entries, Exits, Money Managements, Systems/Methods and Strategies. Personal development and self improvement is an important part in trading. It is the major aspect in trading. 70%-90% of your success in this field will rely on your development.

orfilla4:
@JLINE This is how I draw my lines. Need your opinion about it.

My opinion is irrelevant here and its also important you start trading with a laptop too...just do the obvious.
Learn,practise and participate.

orfilla4:
I'm actually scalping the m5 and m15 charts on this pair using RSI and Parabolic SAR. But after blowing my small account for the 6th time, I decided to remove all my indicators and will now just use Fib retracement and trend lines.

Its not about the strategy, its about you...I had prefer you use a longer tf too.

orfilla4:
I feel a bit guilty.

But thanks for the WoW and inspiration.

I've known this rule for almost a year already (I started live trading in May, 2016). I thought that the "trend is your friend" saying was easy to follow but unfortunately I forget about it during trading.

We'll see my progress. I'm going to post my trade history here.

Don't post your trade history.

Trade Only With The Trend

This is my number 1 and golden rule. The most important rule of my strategy and the backbone of my trading success: Trade only with the trend. It is unacceptable to break this no.1 rule. If I can't stick to this one important rule, then I am no different to the amateur/mediocre trader.

This is the fundamental rule of all; Trade only with the trend. If I can't execute one simple rule, then I am not a professional. It is that simple; Trade only with the trend, nothing more. People lose money because they don't follow this rule, period.



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Explanation:
Do not overlook the most important lesson here in trading. And here is the lesson in bold:
"How can you become a professional trader if you cannot execute one basic/simple rule consistently?"

Please, do yourself a favor... first learn to walk before you try to run.

Success is built upon small steps of achievement. Learn to achieve one task first, then another, then another, then another... and sooner you will meet your success.

You cannot create a sentences or write words if you don't know your alphabet. It will be very difficult and most likely be unsuccessful without knowing your alphabet.

The alphabets are the basics... Trading with the trend are the basics... The difference between a Professional and an Amateur is that a Professional have mastered the basics. How far do you think you will go without mastering the basics?

orfilla4:
@JLINE How many times did you wipe out your account before you started to become profitable?

This is a good question


PS: I wiped out my micro acc. 6x already due to wrong scalping.

I'm trading my favorite pair the wrong way.

Let's say that 35 x 6 = 210...you would have been trading better with this capital and well managed mindset too.
The number of times I blew my account won't help you here,not relevant I would say. If I say it,you will either not believe or it may even make you blow more account.
From the pics you uploaded, it clearly shows you don't have a trading plan...why did you enter those trades ? What were you thinking will happen in the pair ? Seeing you enter sell and buy within two days interval,were you really trading with the trend ?
Lots more Bro

Lol...

Possess a Solid Trading Philosophy

My income is primarily determined by my philosophy and not by the economy. As my perception dictates my behaviors, so thus my philosophy will dictate my performances and results. It is crucial to have, to know and understand my own trading philosophy. It is very important to know myself.

Understand that if I am not succeeding in trading, then I need to change my philosophy. I cannot continue to do the same thing over and over again expecting to get a different result. If I want to change my results (always losing), my philosophy has to change.



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Explanation:
The fundamental of all human psychology: "Perception dictates Behavior". If you perceive your environment to be threatening, you will act accordingly. However you perceive an object, you will act according to your perception.

Here is an example:
Imagine that you are very hungry. Now, picture a roast chicken in front of you. Would you eat it? --- yes or no --- it'll depend of your perception of the roast chicken.
You see, more likely you would eat the chicken because your perception is non-threatening. What if I told you that the roast chicken is poisonous,... would you still eat it? (of course not!)
I've changed your perception and you've changed your behavior instantly. Yet, there is no objective proof that the roast chicken is poisonous. You are simply acting from your perception that the roast is poisonous.

Your behavior of trading is a reflection of the underlying perception you have about FOREX. Whether you are aware of these perceptions or not. The negative result speaks for themselves. Your perception is the philosophy running in the back of your mind, quietly and unnoticed.

Your perception will dictate your behavior. Thus, your philosophy will dictate your performances and results. If you want to change your results, you have to change your philosophy. You need to possess a solid trading philosophy.

orfilla4:
you mean thinkorswim Trading Platform

Yeah

orfilla4:
you mean TradeStation, NinjaTrader and cTrader


And here I thought this broker was great.

Yes and think work or worm platform

Do you guys really know what an ecn broker is ?
Like seriously fxtm ecn broker ... Fxpro,oando,fxcm e.t.c are there, please just do a proper search on google.
Most of those top brokers use the latest trading platforms which are web or the latest one (forgotten the name now). Fxtm is bucket shop and ignore that at your peril. Someone asked is xm better than fxtm,the answer is clear xm=former Nigerian president and fxtm = current one...so decide which is better but don't forget they are both in the same category strictly looking at it economic wise but the later at least tried a little.
Fxpro and the other top are not in their league at all.
EDIT: mind you I will be moving soon from xm to fxpro fully... Get fxpro on your laptop and try them you will see what I am saying. The only argument against them is that they don't have a presence in Africa very well so the need to use mediums like neteller or skrill and the rest.

You are welcome @ priceaction

Melvess:
can someone add another sell now since the bears are in control.

It depends on your risk appetite bro...you are the c.e.o of your trading account. What I do here is drop my analysis based off what I see not to decide whether you take them or not. Hope you understand Bro. Thank you.

JLINE:
All thanks to gold higher entry at m zone...expecting a gap at market open and a quick rush next week due to events during the non trading days coming.

Gold doing the move as expected, bears are likely now fully in control... There might not be a retest again once price moves down from here.

JLINE:
108.90 looks cool for another entry...watching,a test and a retest will trigger.

Uj move so far ha s been cool and 08.90 played out well as a bounce norm

JLINE:
Gj might need 139.77/139.90 now to breach the bolded downwards in the next set of moves.

Bolded in play,next set of moves are gonna be bearish afterwards.

JLINE:
Audjpy

82.94 next then 83.00

Missed bolded with few pips,might still get there b4 close but not banking on that.

As if the dollar didn't come below that before...for how long will this continue 380 today then 410 the upper week. We need permanent and consistent solution leading to continuous crash till maybe #200 or lower not all this try your luck thing.
I no talk anything sha...

JLINE:
Sorry, took a lot of time...I was busy. I had series of buy right from the low(check 4hr chart for that) which was 135.** . price currently at a new H and I need a retrace to the norm at 138.23 which will trigger the larger norm attraction at 141 and 142. Thank you.
EDIT:price has to close below mid at 139.28 before norm (138.23) is valid w/o that there could just be another spike upwards creating a new H for a new valid norm...personally, I am standing aside to continue the ride upwards which is the trend obviously.

Gj might need 139.77/139.90 now to breach the bolded downwards in the next set of moves.

JLINE:
Uj m zone bounce,missed entry of long trying to catch in on gold.

108.90 looks cool for another entry...watching,a test and a retest will trigger.
What I am doing now is position managing (building an equity millipede) ...joining now is kinda risky and late cos I started earlier and long ago with the trade calls and currently up 1500+,so these little draw downs in joining the trend doesn't have any effect.
Its actually a concept, let's leave it at that...try enter my new trades with less risk that's what I am saying in essence except for Audjpy that just started the bull move to the larger norm. Thank you

JLINE:
AUDJPY
Currently retesting now. 81.98 was norm and still norm.

82.94 next then 83.00