₦airaland Forum

kaywhy09:
What's really going wrong!

My strategy of more than 8 months is failing me now.

Passed the 2 phases of funded account since February.

Since then, my trade has always been in red (throughout March and now April).

Who can help sustain the account (at least for first payout)?

Let's see if we can get this out of ICU (Intensive Care Unit)

OfficialP:
Boss mi, pls I need data also. make I DM? thanks for the love

Boss mi,

I actually wanted to send you data the same day I sent to @HumbleTrader because you did something that other traders can learn from that same week. I remember that you had your set up about twice that week which I tried to talk you out of trading them but you stuck with your system regardless of the outcome.

That's a great attribute of a Trader you displayed. One that shows utter confidence in what you have learnt, know and implement. This is how it should be.

I later changed my mind 'cos you might think that I am trying to under-rate you or slight you in someway. Since you have asked, I will do it but please it might be until weekend that's if you do not mind.

Shoot me a DM and let me know the phone number and network you want the data on.

Cheers!

meshpips:
I expect a bearish engulfing candle on GBPUSD for this hour.

Trade safely everyone.

@samfelly, I sent you a message on whatsapp.

They didn't give me the bearish engulfing candle.

Below 1.24045 the sellers will begin to party.

That's the line in the sand for now.

I expect a bearish engulfing candle on GBPUSD for this hour.

Trade safely everyone.

@samfelly, I sent you a message on whatsapp.

samfelly:
I don WhatsApp you now. E seun o

I didn't see any whatsapp message bro.

Kindly DM me via Nairaland.

Thanks.

There seems to be a 'science' behind pyramiding ones trades.

Nor be to just dey scatter trades anyhow.

Industry exceptionalism is what I am striving for.

I play by a different set of rules.

I dare to be exceptional!!!

samfelly:
Abeg, send me 2 gigs, as well . Tongue n teeth dey quarrel and still settle. Thank u, in anticipation, brotherman (Area!)

Send me a DM, include the phone number you want the data on and the network (MTN, Glo etc)

saintelvnn:
Closed trade

Close to target sha....

It is enough for me today....

Bulls are still powerful

Why did you exit so early?

Anyway, profit na profit sha.

Congratulations on your wins!

Donvic4u:
Take advantage of twitter

Lots of free prop firm accounts to be won.

Cheers

the don yaff showed.

I greet you sir!

You won one those giveaways about 6 weeks ago right?

I remember seeing your name.

Welcome back bro.

saintelvnn:
Going long
GU
Target : 20pips

Market kinda stubborn

Good TP you picked.

I am holding my own long until 1.2448 then maybe 1.2462

I bought at 1.23988

An amazing saxophone rendition of the song "Because He Lives" by a teenager.

Please watch, like, subscribe and share.


https://www.youtube.com/watch?v=PgKHAQjD424

Let's take out a few minutes to listen to this excellent rendition of the song "because He lives" by an amazing teenager.

https://www.youtube.com/watch?v=PgKHAQjD424

leopower:
wowwww. u ar still here brotherman, its beem very long while oooo. gud to read from u again

Leo baba, wow! wow!! wow!!!
It is so good to have you here.
This man used to be one of the finest technical analyst back then on this thread around 2013/14 thereabouts.

You can't help but love his neat chart.
Higher time frame analysis, few levels of supply/demand with trendlines.

A very fine trader he used to be back then.
Thanks for checking on us in this thread sir. We are honoured to have you.

In the outgone week, we were undoubtedly "entertained" by @HumbleTrader who seemed to have a piece of his mind to dish out to just about anyone that dared to quote his post.

While many insulted him, I saw a young at heart trader, who believes in himself, is willing to put in the work required and finally, a trader who will become exceptionally good in the near future, if he does not give up when the tempestuous storms of the market begin to blow.

The young trader has been able to raise his own starting capital and was bold (confident) enough to show everyone his trades for the week.

Kudos to you @HumbleTrader. I really wish I can do something about helping you boost you trading capital but in my own little way of encouraging you for the virtues you have so far displayed[b], I will send you some few units of data which hopefully would cover your browsing needs for this new week[/b].

Please accept it as my own little way of encouraging you to continue to forge ahead without fear. I am confident that you will do well.

Kindly send me a DM so that I can arrange for how to send the data to you.

Well done!

See ehn guys, I have never for once called myself a "big" trader. Me wey just come back from village which day here.

I am not in competition with anyone. I only seek to outdo my past.

Trying to be in competition with someone else, whom you know next to nothing about his background and ordeal in life, is the undoing of many traders. This is what causes all the d1ck measuring contests and ego trippin'

Trading is a SOLO SPORT! Learn to focus on YOU and YOU alone. We only come online to attempt to socialize 'cos most traders are truly anti-social.

Ehen! By the way, where is the Prince of our time? @princeofwallstreet abeg come do that giveaway wey you been promise to do around Easter.

Me don book space since o! April 2nd was my birthday. Make you just use the gift do me "happy belated birthday"

Abeg make una nor jealous when him give me the gift o! I use my mouth take ask politely ni. Me nor dey do dry yanga. When I need something, I simply ask politely.

@princeofwallstreet, abeg nor let these people laugh me. God nor go shame you sef.

Thanks everyone!

samfelly:
Most Successful Nigerian Trader: Uche Paragon ($20 million net worth)

Abeg, enof of all these supremacy here. Stop labeling other traders as arrogant. You can't make anyone lick your foot or bend for you to sit on dem. Keep correcting in love, while u push to attempt to rub shoulder with Uche Paragon

For your mind now, you don dey bold small small abi?

Small yansh dey shake!

Yeyerity!!!

HumbleTrader:
3 Volatility 10 Index and 1 Volatility 50 Index, they all reached expected take profit, but I forgot to set automatic take profit for the 4 trades, it was when they started reversing I noticed, so I took profit manually.

Hello bro,
why didn't you trade these on your cent account?
You can click on the link in my signature to sign up with that Broker. They offer BUT synthetic trading 24/7 all week, non-stop on their my platform.
Give them a trial. You will be glad you did.
Thanks!

Tiwasvibe:
But this analysis just lacks nuance. These losses do something to one’s psychology. What’s the probability that he would be able to look at the trades objectively having been on a losing streak? If psychology is battered, the chances he would revenge-trade also increase, chances he might not hold for TP also increases, especially when one of the three trades probably ends up in break-even.

Bottom line is, 30% is poor, it would mess up a Traders psyche

Traders are just stubborn.

You openly displayed your deficiency in maths and stats.

I have tried to correct you with love and care yet you open your "olodo" mouth and still come back to me to say "yen-yen-yen"

What level of arrogance is this with traders? It is already established that the trader has a win rate of 3 out of 10 trades. Now you are bringing up excuses to say "what if"

See, you had better keep your ego in one corner, open your ears wide and listen up when you are being corrected.

I have zero tolerance for arrogance IF you are ignorant. If you know say you wan follow me argue or drag anything, better be sure that you know exactly what you are talking about.

Instead of you to humbly come here and say "thanks" you still dey follow me argue. What insolence!!!

Even a 20% win rate and a 1:5 risk to reward will still keep you profitable. If your computational ability is lacking, do not come drag crap with me.

Please let's embrace humility as traders. I will chastise you if you want to prove stubborn and when I do it to you, I ain't gonna be nice and gentle. The markets taught me in the most brutal of ways. Na so gan-gan I go use take correct you.

How person wey nor fit do small mathematical computation still dey do dry yanga?

Nansense!


NOTE: It is Saturday. Na so so trouble I dey find online as my getaway from the charts.

Be good guys!

Lillyagu90:
I make the most profits when I trade against his opinion too

I hope you traded again the GBPUSD call too?

Murenren like you!

Tiwasvibe:
Both are important . Because a 30% win rate with a 1:5 risk to reward ratio simply takes you nowhere.

30% win rate: You lose 7 of every 10 trades and win 3 keeping a 5RR. That’s 15% up
Losing 7 trades - 7% negative.
Month end , net profit is 8%.

This is holding constant, the fact that the 7 losses do not affect psychology because the sequence in which the 7 losers will come can be random. What if it’s in 7 straight losing trades ? A streak ?
It automatically takes away the confidence to even execute the other 3 winning trades and that’s bad too.

Summary: Both of them play important roles.

Bro, let me help us see this 30% win rate with risk to reward of 1:5

Let's assume I risk $100 per trade

Out of 10 trades, let's assume he lost seven (7) times

That will be 7 * $100 = $700 loss

For the win, he makes FIVE (5) times what he risks per trade, meaning whenever he wins, he will get $500

so when he wins 3 out of 10 times, he will have 3 * $500 = $1,500 profit

Let's subtract the loss of $700 from his profit of $1,500

The trader will still have $800 profit!!!

This is the power of drilling down into the micro-structure before executing your trades.

The stop loss will b by far smaller but the rewards will be very great whenever the trade works.

I think the greater challenge is whether the trader has the discipline to hold the trade until it hits the 5R target.

Many guys are making huge killings in this market by doing this simple thing.

This post will help underscore the importance of readjusting price using VOLUME.

USDJPY

The just completed H4 candle has a BULLISH body but on analyzing the net volume done for the period, it reveals that we had NET sell volume or supply.

The true price is at 131.65
I expect a sell off on USDJPY to 131.65 and then even lower to around 131.25

Donsheddy:
Positions I took...

I sold gbpusd at

1.24360

S. L 1.24590

T. P 1.23400

Took the trade in MFFX and tft competition

Waiting to reap nfp

Nice trade.

I hope they don't hit your SL and then price will now go in your direction.

But it is an excellent entry.

Maybe you should just give it a little more head room.

Safety first!

Donsheddy:
Use calculator press

1.93% of 10k account size.
1.93% of 100k account size
And so on and so forth....

We work with percentage.
Which means whatever account size.

I worked on 10k ftmo account size so...
Risk $34 per trade which is 0.34%....

Closed the week with $193. Which is 1.93%


What this means if in crease my risk..
Profit will increase...
Same trade just increased lot size....

If i increase my risk to 1.02%

Profit would have been 5.79%

Etc....

I sincerely think 0.34% is a bit too small.

Anything between 1 - 3% is good enough for ones max risk per day.

Except you open many positions simultaneously.

If one risks 1% per trade and has a max of 2 or 3 trades, regardless of the method of drawdown (equity or balance based) used by the prop firm, you will hardly breach the daily limit.

Now, if a trader can make at least 1% profit every other day you will have a minimum of 10% each month.

This to me is a very sustainable approach to handling prop accounts whether live or for evaluation.

Hello everyone,

someone shared these twelve (12) e-books

I think it is well worth downloading.

https://drive.google.com/drive/folders/13h8Y_cQ_E2SCfg66aMPurFofeyKA4t7G

Can we see how traders are quick to find faults in another person's perspective?

He corrected me regarding using words that make things sound like "certainty" only for him to do the exact same thing in the same post.

We BELIEVE in our trading system to the letter. This is the only reason we put our money on trades after we have analyzed.

While we know that the trade can possibly be stopped out, we do not need to show a false appearance of humility by saying "maybe" or stuff like that.

Think about it, if you got on a plane and the pilot starts by saying we will take off soon and maybe we will get to our destination within the next XYZ minutes, how would you feel? You go still follow them fly abi?

Traders are arrogant, make una stop to dey PRETEND.

charly20:
"...may likely go below".
Price may not need to visit 1.21*** anymore because we are already in markup/expansion phase of market cycle.

Because WE ARE or we "might be" in a markup/expansion phase?
I never knew you had Yellen and other central bank chiefs on speed dial.

Time will tell the whole story bro.

charly20:
Usoil swing trade preparation:
I want to see a move into $74 before looking for entries. My target is $94

Gbpusd:
I don't want price below .2300. because I believe the objective for April may be .2700 - .2800

The old me would have entered after yesterday's bearish candle and prepared 100-150 pip stop loss for the trade. Growth happens, truly.

GBPUSD will go below 1.23
I will start closing my sell positions from 1.23022 but I remember clearly that there is a VAP level around 1.2124 thereabouts which price has not visited and needs to do so.

CONCERNING RISK TO REWARD AND WIN RATE
It is important for us to know that both parts are important.

I perfectly understand @humbletrader's perspective. I will explain.
When you start using a particular strategy, you need to take maybe 100 trades because just one or two trades cannot really give you the true performance of the strategy.

Having taken those 100 trades, check the EXPECTANCY of the system over those 100 trades or use the PROFIT FACTOR.

Or simply check your AVERAGE PROFIT as compared to your AVERAGE LOSS.

If you have a win rate that is greater than 50%, you can use 1:1 risk to reward and still come out profitable.

If your win rate is less than 50% then your reward needs to be higher than your risk per trade.

Let's take cognizance of the fact that a strategy might not always produce a 1:4 risk to reward. Sometimes it could be less.

In this regard, knowing your WIN RATE (and the average profit/love) will let you know the smallest possible risk to reward you can use in order to end with profit.

It is very possible to also optimize the system in a bid to reducing the risk per trade and in essence, the reward achieved.

Smaller stop loss values have a higher tendency of being hit but will allow you take far larger sized trades and make more when they work.

Professionally, it is advocated that 1.5 ATR of your entry tf be used as your stop loss.

Both parties have been right, the back and forth bashing wasn't really necessary. Let's just learn to see things from another person's perspective.

Peace out!

OfficialP:
buying EU 1.0900

sl 1.0885

TP 1.0970

I go still talk again. Although I do not trade EU but since both RU and GU have the USD as their counter currency, I expect almost the same trajectory for both of them.

As for GU, it bounced from around 1.2440 once and if this level is breached to the down side, it instantly exposes 1.23022

In essence, a break of yesterday's low and we should see free of about the ADR of the pair in question.

The correct direction in my opinion is SELL.

All the best bro!

rhynoemmie:
Gm

Please can you explain this picture, cos i think I'm in a similar situation but no matter how i look at it, i don't seem to get what he's trying to say

The pishure nor get mouth

E nor fit talk jawe.

For those that trade PRICE ACTION

The AUDUSD entry was simply a case of break of support and then retest.

Nothing fancy!

meshpips:
Yes hunku,

I dey answer my name.

After taking the buy, I placed a sell limit.

E be like say AUDUSD na better pelzin.

Nor be like James-shinner and kendos_trouble.

I nor get time for yeye boyfriends like those two names I mentioned about.