₦airaland Forum

Edd1e:
Damn, jline, and u didn't invite me to the party.

ah bros,i just forget no vex ooo! just get yourself pop corn first,when it becomes more interesting then you can graduate to the next level too.

Anyone can train to be a gladiator. What marks you out is having the mindset of a champion. Manu Bennett

FxDuke:
lol..
that is if you are a "true thoroughbred Proffessional" in the real sense of the word.

bros no mind me,i just talk wetin some people do actually but me no dey do am sha lol
"madam where is the wine na,this pepper soup is too sweet i need to complement it...season 2 has started ooo"

LOL...

priceaction:
. You people like drama too much..

bros what to do na...one person use ff explorer say him na number 2 top trader and another wen post profits and balance come say wetin that first person do wrong...am not taking sides though but why bring up that issue after a long time...is it not the same thing ?
"so,madam you na by any chance get wine ? "

jorel1:
. what exactly did I say??

that position trading na,i like that thing but if the trade go against person that one na die ooo...its like a trend being against you.

lol ..."madam abeg bring another pop corn,this movie tough well well...una get pepper soup as season 2 wan start so"
jorel1 what you just mentioned seems exactly like the way fti trades,know him on ff ?

no no no no "drops pop corn for a while"...trading can be done for a life time thing without complementing it at all but having realistic and growth process and targets over time.
"another pop corn please,madam abeg add a drink".

lol..."with my pop corn watching how the explorer package unfolds or ends".

i love this quote : "Admission of ignorance is the first step on the road to wisdom" . ^{best quote seen here}

Edd1e:
So what does this mean for you?
Risk less than 10% of your capital per trade.  Risk a lot less.  Put the edge so far in your favor that it is almost inconceivable you would lose all your capital.  If you have capital, you are in the game but if you don’t, you are out.  Your capital is your ammo and without it, your dead in this game.  Especially when learning how to trade consistently, keep your risk low like 2%.  Even when you are really good, keep it low because you will have losing periods and when you do, you want to absorb them well and not take big chunks out of your account.  Risking 10% will do this but risking 2% will not.

Although it may not seem like you will make a lot of money risking 2% and having a 2:1 R:R, over time as your account grows, it will compound and you will take losses with ease of stride.  However, by risking 5-10%, you severely alter the mathematics and your edge.  And far worse, you increase the psychological pressure to recover the losses and that actually compounds the emotional/mental energies against you.

As long as your R:R ratio is 2:1 or better, when you lose you will lose a little and when you win you win much more.  Even if you take a series of losses, it will only take just as many wins to be back ahead.  Case in point;

Say you have a 10k account and have a 2:1 R:R and risk 2% per trade.  Here is how the math works out below after a series of 3 losers and 3 winners:
10k with 1 loss at 2% = $200 loss and acct is at $9800
$9800 with 2nd loss at 2% = $196 loss and acct is at $9604
$9604 with 3rd loss at 2% = $192.08 and acct is at $9411.92

So you lost 3 trades in a row and now win 3 trades, here is the tally:
$9411.92 with 1st win at 4% gain (2:1 R:R ratio) = $376.47 and acct is at $9788.39
$9788.39 with 2nd win at 4% gain = $391.53 and acct is at $10179.92
*thus after 2 trades you are back into profit.
$10179.92 with 3rd win at 4% gain = $407.19 and acct is at $10587.11

So even after two wins, you erased 3 losses and with the 3rd win you are way ahead.

Thus, hopefully you can see the importance of having a good R:R while having low risk.  It is psychologically hard to deal with big losses but little losses have a much smaller impact on your emotions and trading so keeping an edge both mathematically and psychologically is crucial to winning at this game.

very nice info bro...but our oga profitsgalore says reward:risk of 1:2.5 is better cos the russian so called guy gave it to him. that should be like 95% chances of blowing account. lol

i just looked closely to the excel file,its even a projected trading result...lol
ask those who created excel sheet back in those days and how it went even me inclusive...it seems you just started trading like this month.
your R:R is poor,you won't last long bro. 2.5:1 (that's suicide)

Profitsgalore:
Let this be a lesson to a lot of traders. There are some who don't know what the phuck they are doing but refuse to listen when be taught. And you wonder why a lot fail in this business. Understanding money management and how to play around with it is dire if you want to succeed. When you have a high win rate like mine, your stop loss can be higher than take profit If only people can STFU and learn. Below is just a sample of how to play around with MM.

lol...getting angry,don't be bro. you aren't professional enough to teach me a lesson,always keep that in mind. unto the next one,that bolded got me to laugh really hard. you seem to be talking more and then went ahead to create an excel sheet...
here is something you need to know about me on forex; "i don't believe in history as it can be manipulated to suit a purpose,i believe in the now result what you can do now not yesterday". you made mention of russia,go check history those guys are always associated with fraud...hahahahahahahahahaha now i know what happen,they have chop your money for buying indie and you looking for someone to buy too
stop dreaming young lad,you need to seriously wake up.

Profitsgalore:
I have to be convinced otherwise. Just going of knowledge on MM alone, you have failed. And that is one of the most important part of trading.

i failed...lol oh cos i refused to accept your poor r:r of 2.5 : 1... you are risking 45pips to win 20 pips and you assumed i don't know mm or the fact that i don't know mm. lol
don't get too angry,you just happen to make the first wrong statement initially and i am sorry to pick the obvious out...you can't succeed with that kind of poor r:r bro...wake up.

Profitsgalore:
Now i see why people are failing. If you want to indulge in martinglale as a form of money management please go right ahead. If that is the kind of mm you are used to, more grease to your elbows. The concept of money management is that your lot size increases or decreases based on your wins or losses, so i am trying to figure out how martingale factors into what i'm talking about. And your thought process was flawed from the onset by using 10. Only a newbie would do that. Your base must always start from a 100 trades. This is why you fail. No long term vision to get to a 100 trades to assess your performance. When you lose 10 or 20, you start gambling. Smh.

less i forget to mention,am not included in the bolded though ...

Profitsgalore:
Now i see why people are failing. If you want to indulge in martinglale as a form of money management please go right ahead. If that is the kind of mm you are used to, more grease to your elbows. The concept of money management is that your lot size increases or decreases based on your wins or losses, so i am trying to figure out how martingale factors into what i'm talking about. And your thought process was flawed from the onset by using 10. Only a newbie would do that. Your base must always start from a 100 trades. This is why you fail. No long term vision to get to a 100 trades to assess your performance. When you lose 10 or 20, you start gambling. Smh.

now i have placed you where i want exactly...so,lets follow your thought process...if i win i increase lot size right and when i lose vice versa ?
so your first 10-20 being a looser,whats supposed to happen increase or reduce lot size ? you see bro that at the end you will still not be in profit.
i don't use martingale,i pointed it out cos what you said previously in other to make profit will only be achieved via martingale cos you wan to stake more to win the previous loss due to your poor mm which is 2.5:1.
using 100 or 10 is not the issue,you seem not to be understanding data sample analysis like i mentioned before...nothing flawed bro.
2.5:1 is a poor r:r,just accept it and move on bro.
like i also mentioned earlier don't get paranoid or desperate to prove your point...it looks fishy.

Profitsgalore:
Holy crap! Are you for real? You need to brush up on your money management. When you restrict your trades to the 10 that you so conveniently used as the example, then you know nothing about money management. You use 100 as base because your measurement of success or failure is based on long term trading. You can have 10 losing trades at a go, even 20, but by the time you execute you 100th trade with compounding and a win ratio that high you are bound to make a killing. Which is why i said watch the video. What are they teaching nowadays? Smh.

first question,no i am not real. secondly,its true i need to work more on my mm cos i will like to attain 1:15 like one of my mentors. thirdly,i was using 10 hypothetically and someone with reasoning and knowledge of sample data analysis should understand me using 10. fourthly, when you loose your first 20 - 40 trades like you mentioned with your poor r:r i don't think you will be a winner and except you plan to introduce another concept which is martingale which will surely blow your account because of the first rounds of losses. lastly,i had rather watch a carton network on the internet than watch one amateur fx video...they actually don't teach more these days that's why self education is still the best.
don't get paranoid in your replies next time,it shows you are desperate for something...don't know really. just my 2 cents.

Profitsgalore:
Here's a shocker for you. My win ratio for the system i trade has a 90 percent win rate. So yeah, 45 pips stop loss for 20-30 pip potential. It evens out nicely. If i wanted to, i could give 10 trade calls right now and 9 would be a hit. I wont though.

you are missing something bro,he is just trying to tell you that in the long run you will still be in loss.
let's say you made 10 calls and 9 are winners which is approximately 20 x 9 =180 and 1 loss = 45...lets say you loose 2 then you get 90 in loss.
in the long run,its difficult to be profitable or maybe you have to hit 100% always. just my thoughts...

lol...r:r 2.5 : 1 pray not to loose 4 times as you will need to win 9 times to recover.

...

jorel1:
If you can be patient , I will be opening a forex brokerage firm in Nigeria soon ... to give the best services with minimum stress ..

lol...

JLINE:
i have a buy stop on gold at 1322.30 ...price came to 1322.00 but was not picked cos of spread,looking to the chart to see if i am supposed to increase the buy stop or leave it.
update on gbpusd :its doing very fine as price is moving as expected as previously mentioned.
update on uj: still in a buy hoping to get to 106.44

gold buy stop was picked

Jalive:
Hello traders. I need your honest opinion by virtue of experience in dealing with Alpari and Forex Time

Which is of these brokers has:
1.Better presence here in Nigeria
2.Fast withdrawal
3.Prompt support
4.Better PAMM Service

Please note that I'm making this post simply to be better informed as your input will help me make some decisions.

Thanks

i don't really have enough personal experience with the above two brokers very well but my experience with fxtm was terrible...so,will prefer alpari personally sha. others might differ

priceaction:
Bro , i dey oo, i just dey follow you people for background while i do some trading perfections and improvements. Na scalping i dey use build my account now . One needs to find a way of external income with this dollar wahala with much discipline now. Na so i find my self ooo. Do what ever you think fit bring more more money bro without hurting your account.cheers.

TRUE

i have a buy stop on gold at 1322.30 ...price came to 1322.00 but was not picked cos of spread,looking to the chart to see if i am supposed to increase the buy stop or leave it.
update on gbpusd :its doing very fine as price is moving as expected as previously mentioned.
update on uj: still in a buy hoping to get to 106.44

priceaction:
CAN YOU SHOW US YOUR ACCOUNT HISTORY, BY SAVING IT AS DETAILED REPORTS WHILE PHOTO SHOWING US LIKE THIS. tHANKS

bro,where have you been...miss you here. your ger30 account is looking nice,seems i will fund a seperate account for stocks too.

trailing stop hit on uj should have close at 80+ though...well,price is coming up to the norm at 106.44 and i will gladly sell again but this time with tp at 104.89 and that will also activate the other trade of target 103.xx too for better entry while i also have sell stop at 105.18 for the 103.xx target also.
when the major starts moving,trading is sweet and swift at the same time.you scalp it and also at the same time swing it. currently holding a buy to the norm though for just 28pips(106.29 to 106.44) if i am correct.

EURUSD...struggle is tough though but a close above that lower mofu line of the norm at .10035 and i will gladly buy maybe not for long as the long trade can only occur when the upper level at .11700 is broken straight. daily chart
EDIT: Adding gbpusd analysis here,i bought early looking at the trade off the daily chart unlike the 4hr tf where i bought late...price will be heading to the NORM (just 600+ pips) line IF price closes above the 750 level right at .33477 but i already entered off the 4hr tf in prospect that price will close above the level on the daily chart.

most expensive data providers right now in benin...i imagine what spectranet and others are waiting for though.
1k for 1gb
3k for 3gb
5k for 5gb
9k for 10gb e.t.c...that's crazy not in this new age.

JLINE:
short usdjpy at 106.44 which is norm with 30pips stop and 100pips tp....this trade is mostly likely going to be a trend down to 103.xx though

stop reduced to 10pips,will take stop to break-even when i initiate the 2nd trade...i expect a re-test of 106.32 then more down movement.
EDIT:2nd trade activated @ 106.32 for a little 25pips tp
EDIT 2: 25pips tp hit,letting the other run for the initial 100pips tp.
EDIT 3:planning to remove my tp from this trade but i suspect a bounce back up to my entry so i can re-enter for the 103.xx target after taking 100+ from it maybe or wherever i see some rude moves(s & r).

uj re-test for the final move just in case you missed it previously.
EDIT:adding gold analysis here...4hr tf confirmed buy earlier on but daily just confirmed too like it supposed to and price has moved way too far to buy now. so,i will place a buy stop at that marked x line and stop will be below the lower mofu line of the norm at below 1308.xx and TP1 will be at 1402.xx and TP2 at around 1430.xx and the consistent TPs will be higher if no news or event disturbs the flow. daily chart

Capitals:
Nice one bro, Second trade already stopped out BE. Didn't use an indicator for its target though. It still baffles me how you interpret them, that s genius.

nice one bro...i loved that chart though. "feeling high here bro"...genius as long as the bills are paid sha

uj got filled on 106.44 as previously mentioned.