₦airaland Forum

charly20:
My aim wasn't to even make profit yet but to outrightly blow the account but not with nonchalance. I tried different strategies, traded limited pairs( something i won't advice a swing trader ), watched videos and what not.

What blew the account was the pairs i have now come to love and understand--- Gold,oil and Nasdaq . Ic.market's minimum lot size for those assets were between 0.5 and 1 (imagine that for $200 )

I ran the account up to $800 and was feeling fly (with dangerous lot sizes, how foolish! ). Before the next day, the account balance was $57. Naim my body cool down.

In those six months, I felt the excitement from seeing plenty profit to the frustrations from losses and limited pairs to the humility of managing account small small.

I'm still progressing anyway but small small, we go dey alright.

chief, na Boko Haram blow your account??

We go dey alright... I think I'll start live soon, let's see what month end brings.

VlamesIffect:
For this business... all man for himself. fx na the practical definition of ON YOUR OWN.

na to drop Cutlass (strategies, risk management.e.t.c) and leave you to clear your own path.

VlamesIffect:
When i watch the showw Billions...the quant trader said we deal with uncertainty.....That's why we take calculated risks.

Funny how people ignore stop losses

Piptocoin:
[color=indigo]I love this suggestion or tip. This is why strategy hoppers still think there is a holy grail out there. Not all trades will be a winner because the market will always be the market...it defies any constant because sentiments are always shifting without warning. Solution, ignore the outcome, let the law of averages or large numbers do the profiting for you. Awesome.[/color]

So true. Though I'm sad it took me this long to know market psychology. I've been trading since 2018(demo). I'm YouTube schooled but the most I heard about market psychology from other traders was "cut your losses short but let your winners run" "do not be greedy" " don't let your emotions rule you" "trade in the moment"...e.t.c

But none of them ever said how... Shocking isn't it?

Kaesyrn:
You're on the right path chief

Dorime...

charly20:
I have maintained this thought since I first arrived here.
15th of July will make it one year since I opened the first $200 demo account to see how fast I'd blow it.

January, I blew the account but i carried the lessons with me and incorporated them into a new $100 demo account in late February Abi march sef and the $100 account is currently $500 and another $200 demo account is $300+

What is all this epistle?
Put in emotions into a demo account and you'll see how fast you'd learn.

WAGMI

Omo... You learnt it early. I was stuck thinking that if the trade goes against me, I must've done something wrong. It was until April here that I watched 4 hours if Mark Douglas videos on trading psychology that I finally understood. That April I turned $40 to $200 folliall I learnt from him. May I did it again but I abandoned the account at 150 after just two weeks. I felt I was gambling.

I went back to the videos and there was something that caught me there he said "If you don't believe you're worth the money you're making in trading, you'll probably never make money." He also said something along the lines of you've been trading for 4 years now and you think you don't have enough knowledge? That's 4 years is enough to get a degree in school and if it was school would we feel like we weren't worth our salt?? He then said is all about mindset... If you don't feel good enough, you'll never be good enough .

That stuck with me

GarkiAccessory:
Uj sell short term is a little bit late though, in my opinion. the uj is still bullish. Seller should b cautious.

But long-term for swing trader this is the perfect time (4hour time frame double top). That is If the bull run has reached the end.

Bro, my setup is long-term I should say... It'll take at least 3 days without news interference for my TP to hit. SL much sooner.

As for the bull run, until it starts trending downwards and even breaks past my TP level before I'm certain

Piptocoin:
[color=indigo]Sell call agrees with my trading system entry. I didn't take it though because I did not want to chase the market after that long candle. Candle retraced to give me favourable entry but I was not watching. AU gave me a perfect sell entry yesterday but I was quite busy and didn't see it early. No chasing after trades is one of my trading rules. Trades just slipping from my hand. Oh well, there is next week.[/color]

I'm trying what mark Douglas said, you see a trade that aligns with all the conditions for your strategy, you take it... Don't worry about being wrong or right

GA setup and UJ sell.

Piptocoin:
[color=indigo]do you know why pigs get slaughtered? they never stick to their rules of "if this condition happens then I shall be a buyer or seller; if not...I stay out even if price is going my intended direction. my system says it is a no-trade setup". Many forex traders (including me) underestimate the power of sticking to rules.

[/color]

Aje... I for dey the side of the pigs na if I entered gold sell

rainlover:
pls what does it mean, when an accout has the below conditions?
Margin call of 100% and stop-out of 50%.



kozmicity
currentprice
Fxwarrior

I don't understand the question, but if what I think you mean is what it is, maybe your broker means that you'll get stopped out of your trades once your margin gets lower than 50%

Hope you didn't get burnt??

Kaesyrn:
Hope you didn't get burnt bro

Nah
I think I've gotten smart enough to stay out of the market when I'm unsure. Market psychology na the real deal

Two months ago, I might've said fvck it, it's demo

charly20:
I think selling is done. I'm looking to swing long tomorrow.

Yup... There's a double bottom formed on the H1

[quote author=Kaesyrn post=113639729][/quote]Bro, the indecision there eh... I'm looking for sell scalping opportunities

Sell
Modified
GU hit SL, but I got a reentry as I believe it's still bearish. GA hit TP too finally.

I also entered an EJ sell

KingPipmarshall:
Crypto is banned in Nigeria.

Still?
Do you have any alternative suggestions as to how I can deposit higher amounts without getting a dollar card?

rainlover:
Does high margin level have a negative impact on my account?

kozmicity
currentprice
Fxwarrior

No chief. The higher level of margin you have, the better. You can open more trades when a higher margin simultaneously, when your margin reduces to a particular percentage, you get a margin call which is when your broker forcefully closes your open positions in order to protect their capital which acts as leverage.

Jef4u:
They have all trading instruments

Ok chief, let me go and do my research

Pristine664:
Alright...

The GA or the gold?

GA buy... Banking on the head and shoulders pattern.

Gold buy, I am looking at the bearish pressure, but the only reason I took a buy is because of the H4 trendline + the support there. Let's see how it goes.
MODIFIED
Both hit TP

VlamesIffect:
That your nimc slip fit be issue. But hotforex dey accept am + birth certificate.

Dah na why I wan Waka go do voter's card today

Goodoption:
What about

Deriv
Ic market

Isn't deriv just for synthetics?

[quote author=MONEY247 post=113538224][/quote]Thanks chief

kozmicity:
What I'm seeing on gold

TP HIT

MONEY247:
Check FBS...

Thanks chief... Do you use them? Someone somewhere was suggesting exness, what do you think?

Malik1338:
Octafx clicks all

Thanks man. But I thought they were binary options brokers only? I'll definitely keep them in mind.

Good evening, please someone should help me with a broker in which I can easily verify my account details, have a low spread and low deposit rates (crypto deposits if possible) and also fast withdrawal.

I currently use XM, but I can't deposit more than 20USD because of my bank I guess. I want a broker that accepts payments above $29 in crypto and also accepts NIMC slip.

Vlameseffect
Charly20
Feshizzy
Kingpipmarshall
Samfelly
Pipnator
Money247 et al... Please, your input will be most welcome.

What I'm seeing on gold

VlamesIffect:
You just open nl account may 28....you dun run drop format na wa for u o.... so na pictures be your proof? That's it.? Anyway one person dun ask for $100 kindly help am. It's just a drop in the bucket of money you have...

Thanks for supporting me chief

obajoey:
Na $500 USD me I need.

StockTraderX:
I see a lot of negative comments, Maybe i should provide a little proof of when i Started making payments, all comments are Welcome tho.

Help me with 100 usd make I fit use start live acc... Eh boss!

siofra:
I love fantasy. Currently reading HP Lovecraft works. But I'll check this one out.

I'll check out lovecraft, you check out Brandon Sanderson... I've read all the books by popular authors and I'm currently scrounging through google. So if you got any reads please do share. And if you need some... Just holla.

Ciao, have a nice evening.