₦airaland Forum

Cocolatti:
Boom !!!
Over 4.5 already @half
Wished I staked more (punters regret)

Mozambique sef dey win

Pls help me interprete this test result...doctors in the house...my sister was complaining of stomach pain..so we ran this test

Your input will be well appreciated

Risk management for me is the holy grail in forex....what I did in my own case was to open 0.01 lot size 4x on my 100 dollars account with 10 pips stop loss....thus gives me 4 loss anytime my stop loss is hit....and with manual take profit target of 30 pips or 40 pips depending on the market....there was a day I am on gu and EU sell...it just tank down by almost 200 pips because of news....which further strengthen my believe about risk management....there is a saying that no matter what we do, the market can decide to go up or down


.cc: samfelly

Who are this people derailing and fighting on the thread....

Feshizzy:
I don't think this is how a trade journal works,
An indicator on your platform can get you this,
Or a myfxbook like mine can get you this,
What a journal is, is more detailed than this,

You need,
1. To have the chart and mark entry and exit,
2. Reasons for entry and exit
3. Possible improvements to entry / exit.
4. How does similar pattern played out in the past
5. The % probabilities of such kind of setups
6. Finally, would you take such kind of setup again?

Ok bro...Will work on it

Gozzylala:
Good one bro.
I think it depends on what you intend to achieve by keeping a journal, that'll guide you on what should be contained in your journal, it's personal.
Personally my journal contains trades that I took and ones that fit my strategy that I missed or hesitated to take and it eventually went my way. Also to know the opportunities the market made available based on my strategy. My aim for this is to keep me from over trading knowing that the market provides opportunities daily etc. It contains mistakes I made in the trade etc. I normally mark the charts and screenshot them, I go through them at the end of the week. So, you should be intentional about the journalling and what you want to achieve by it.

I will start screenshot also...as it would make me know where there is error...

Thanks bro

haryodehjia:
What is your type of trading??
Your journal is good sir but I have a focus on EURUSD it has over sold already though they trend is your friend Sha but if you look at the chart it has been ranging for the past 4weeks.. Looking at the weekly/Daily chart I'm seeing bullish divergence.. So this coming week or next will be for the buyers..

I trade institutional supply and demand....I personally don't believe in overbought and oversold as I don't use RSI indicator...the fundamentals of usd was the reason why it is strong for now. i use price action to get into trade.

Thanks for your input.

Based on @gozylala and @donvic4u advice to do my trading journal at the end of the week.

This is my trading journal for this week....any area of adjustment?

I have problem with journaling trades....I heard it is part of the key success in forex...but I always forget about it everytime I'm trading...any advice for me

saintfaculty:
Had 2 watch areas for Gold .... Grabbed my sl before respecting the area.... i will have to stick with my GU/UJ
i done comot hand for anything wey concern Gold... make i give caesar wetin belong to am

Lol...everybody dey fear gold....but it is the most rewarding

I laugh at u guys denying candlestick patterns...so how do u enter your trade.....what is the confirmation for you to enter a trade.

Why are traders running away from Ftmo to mff...is it about the registration fee? Or any idea what did ftmo did wrong

Tony142:
Type Of Strategies In Forex



After studying the forex market for some years, I discovered that there are 8 primary types of strategy that exist, any other strategies falls into one of this 8 type of strategies



The 8 Type Of Forex Strategies Are:



1. Indicator Strategy: This are strategies that uses indicator to determine the direction price may likely go to, some of the indicators traders in this categories uses are, RSI, stochastic oscillator, MACD, bollinger band, SMA, Awesome oscillator, Parabolic Sar, Fractal e.t.c , from my observation I discovered that 80% of traders who uses this strategy are newbie, since they are not experience yet to analyze the market probably, so they like using indicator that will tell them where price will go without them doing too many analysis, this set of traders believe that those indicator will one day print the money they will use to build their mansion and buy their private jet that they will use fo travel to the sun for holidays


2. . Price Action Strategy : This set of traders trade using support, resistance, trendline, fibonacci, chart patterns and candlestick patterns e.t.c i discovered that 80% of traders in this categories are experience traders who have been in the game for some years, they believe that price action is king, but we are still yet to know the kingdoms which those king are rulling, is it possible to have 2 kings in 1 kingdom? because the last time I checked the kings are the market makers , so I guess price action traders are fake kings


3. Trend Following Strategy : This set of traders believe that the trend is their friend, so they follow the trend to whatever direction it goes, if the trend goes to eat, they too will follow it to eat, if the trend goes to bath, they too will follow it to bath, and if the trend enters into fire, their account balance will enter into fire too and get blow


4. Institutional Trading Strategy: this set of traders are called ICT traders or SMC traders, they believe that the market is been manipulated by the market makers, banks, institutions e.t.c so since they can not beat the market makers they decide to join them instead of fighting against them, so this set of traders trade in a way that is similar to how the market makers trade, some of the things they look out for are order block, rejection block, breaker block, mitigation block, vacuum block, liquidity pool, liquidity void, stop hunt, turtle soup, imbalance, faire value, premium, break of market structure, return to OB, Wycklof e.t.c despite trading like the banks, 95% of them still blow their account like it is their birth right



5. Fundamental Strategy: This set of traders believe that news is what move the market, so they only trade during news period like speech, event, NFP e.t.c well, we do not really know if news is what move the market but we know that majority of their live account equity have been moved or donated to their broker account



6. Sentimental Strategy : This set of traders believe that demand and supply is what move the market, so they are interested in knowing the numbers of buyers and sellers that is currently in the market and the volume of currency they want to buy or sell in order to predict weather price will rise or fall, is sentimental strategy the holy grail of Forex? Well, I will leave that question for the forex gods and market makers to answer



7. Naked Chart Strategy: This set of traders do not use anything except naked chart, their chart is always naked without wearing pants only God knows what they are looking at in an empty and naked chart without using any technical tools, the only tools they use is their eyes and brain, anyway, I belong to this categories of traders



8. Jack Of All Trade Strategy: This set of traders combines like 2 or 3 of the above strategies to form their own strategy, for example they may combine indicators and price action together to form their strategy, despite combining strategies together over 95% of them still keep depositing
without withdrawing




Which of the listed group above do u belong
to?

This is so funny

Ikanium:
I'm new in this Crypto space i don't know how to go about that.... I only have trust wallet

Go and learn first...plenty of opportunity in the market

GabsonFX:
Update on this US$100K managed FTMO account.

---

So I decided to trade more yesterday, I was able to bump my profit from US$5,751 to US$7615.16.
I already brought forward my profit split (boxed in red - pix) to November 19th, which means I will wait 6 days from now to push the withdrawal button.
A new US$100K account shall then be provided the same day of withdrawal......as long as I keep protecting this account, I shall keep withdrawing.

This is really great boss....I think you need a youtube channel and a mentorship group

CopyJoe:
Just opened a $200 demo account.

Learning continues. I go hack this thing called Forex one day.

Gold and AU only.

Thought u have graduated to a live account....is there any challenge

Feshizzy:
Everywhere just dry since morning..

Here's pro tips,
Don't allow anyone deceive or follow the narrative that demo account doesn't have real feelings like real account.
That's greed talking....

Always try out new plans, strategy while you are still developing yourself, till you reach the point you know exactly what you need.

Always backtest your plans, and stick to it in forward test, no matter the outcome. Stay true to your plan.

Depending on your strategy always demo for 6-12 months,
If you succeed, you have better understanding of your plan, yourself and ROI expectations.

When you go live, don't have the mindset of withdrawing weekly or monthly, na there you begin fail.

Have it in the back of your mind, that when you go live you won't withdraw till at least 6 months.

Go small, initially when going live a $10 on cent account would make it look like $1,000
That should be sufficient enough for you to test out your plans

There's no shortcuts or rushing in the market, e go humble you.

Always note out your mistakes with notes and screenshot.

Las las, no depend on any yeye mentor,
Dem dey rely on your monthly subscription to survive so

Trade what you see, not what you think you see.
Keep it simple, always.
If its too complicated, then it's not an entry.

Cheers

I agree with all what u say except the aspect of withdrawing monthly....u can withdraw monthly and channel the profit to other business. There is nothing bad in it.

Donsheddy:
Evening Guys....
I just want to share this here....
Please and please and please...
What ever style of kind of trader you're...
Please always use stoploss...
Always use stoploss...

It doesn't matter if you're doing 1:3, 1:1, 1:2,
Or even 2:1, 3:1, 4:1....

Always always use stoploss ....

I learnt the hard way and now I'm enjoying it like kilode......

G.n


By the way me I'm currently doing 4:1...

Hahahaha....
But it is worth it....

Do u mean 4: 1 risk:reward

Feshizzy:
It will update sha,
Or you can do it manually,
There's different options to make it auto update,
But might require you downloading their EA or using publisher,
You can you forexfactory that was as a better sync, as well as fxblue.

I'm just to used to myfxbook because if it's simplicity.


Just fxbook major

Thanks bro for timely response

I am learning a lot here daily.....pls myfx book account is not updating...what can I do

Good evening everyone ....drop weekly outlook

@gabsonfx pls I want you to talk about the timeframe question u asked this week...which one you think is the best......thanks

ekesoft:
guy with your $70-100 , practice with your demo properly, adopt a strategy and measure your growth with any props firm rules and how you were able to stay by them ,, then you purchase a large account from them ... like myforexfunds would give you a $10000 challenge account for $84 .. pass it and start earning properly with no stress .. just my advice on the easy route to the top lol

So helpful

Fxwarrior:
In forex trading, less is more.

1. Trading many instruments paves more ways for losses. You'll be surprised someone trading just 2 pairs may make money than one trading 10 pairs.

2. Trading more days paves more ways for losses too. You'll also be surprised that one that trades 2 days in a week will make more than one that trades from Monday to Friday.

3. Keep it simple. Avoid greed and fear.

4. Keep a level head and avoid noise which can come from fellow traders. I recall making a sell call only for someone else to auto suggest having a buy bias.

5. Finally keep learning. Babypips is not only for newbies.

I can relate with your number 4.....I made an analysis of GU to sell massively on Wednesday and USCAD to buy after spotting a massive rising and falling wedge on the 4hr timeframe....so I enter those trades......on posting it to some telegram, people started giving opposite bias that I nearly fall for it,

Inshort ,I agree with all your point....

Pls boss give us d manual one
4 we dat did nt av online acct

Sir...I av been playing these bet b4 until I suddenly stop due to skool....but it nw seems I don't knw abt it again...pls put me through like a fresher..which some terminologies like handicap

Mizmycoli...pls i need urgrent advice...my galfrnd told me yestaday dat val day is also her birthday...so wot can i do 4 her....consider one thousand naira and student lyf

Mizmycoli...pls ansa my question abt val and election..i use God beg u...

Mizmycoli..pls i don't knw hw i could go abt wit d valentine on election day...how should it be celebrated in considering we student on campus....and wot type of gift would go best..take student lyf into consideration...pls reply me fast

Gud day mizmycoli...my girlfrnd does nt call or send me a text msg...so she told me she is nt dat kind of girl dat used 2 call...we've some clash and settled it...but i am still doubting if she truly loves me...pls i nid ur reply fast...thanks

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