₦airaland Forum

meshpips:
USDJPY

Buy limit at 131.03

Stop loss 130.70

Target: open

The trade has been triggered.

Drawdown was less than 3 pips.

Trade can be "locked" now.

I love these low draw-down entries.

My signature entries!!!

Note: The FX market is a LEVERAGED market. Great PRECISION is needed especially for entries lest a little error can become MAGNIFIED by reason of leverage.

USDJPY

Buy limit at 131.03

Stop loss 130.70

Target: open

meshpips:
Stopped out.

I will still sell again.

GBPNZD

Sell limit at 1.9094

Stop loss 1.9154

Target 1.8927

meshpips:
For those asking for signals

GBPNXD

Sell at 1.9044

stop loss 1.9076

Target 1.8927

Stopped out.

I will still sell again.

For those asking for signals

GBPNXD

Sell at 1.9044

stop loss 1.9076

Target 1.8927

Donsheddy:
If I start talking about my experience today no go end...
But all I can say is we keep fighting till the end....
No road to success is an easy road....
You have to put In the work...
Be committed...
Be open to new ideas.
Study, learn and unlearn....
Practice practice practice....
Be dedicated and be discipline...
Without greed...
Honestly no profession is as sweet as fx....

I've had my own share of downs...
But each experience builds me up and makes me better....

I'm not there yet but for sure I know I will get there after paying all the required price....

10k prop account.
With 1% monthly profit
That's like earning 60k in a month with a lot of free time....

100k account with 1% in month that's 600k in a month..
Which work wan pay you that kind of amount

200k is 1.2m


Any time I want to quit and I. Remember this,

I force my self to be discipline...

To earn 600k in civil service....

You must have worked and worked and worked for years to achieve that....

So make we no give up.
And treat this business as a career....

Last year...
I blow up 100k Trueforexfunds challenge.
10k phase 2 challenge.
I blow 10k live account before withdrawing.
I blow 10k phase 1 challenge last December...

E no easy but every loss came with it's lesson....

My trading style have improved gradually.....
My risk management now have improved too....
I moved from chasing 5 pips to 10pips to 20 pips to 30pips....
Now I chase 100pips...

I moved from using no stop loss at all to using stop loss..
Wide one's....

I moved from. Chasing risk to reward ratio of 1:0.5 to 1:1.5..

Now I chase 1:3 risk to reward.....

I moved from failing ftmo free trail....
To passing free trails on a roll....

Each day comes with improvement as long as we a dedicated to learn .....

Ones you're good in this business opportunities plenty like plenty...
Investors full everywhere ready to give out funds to good traders....

So lets keep grinding...
And never give up...

I dey ride for my boss back Charly ✔️✔️✔️

Bro, you are making great progress.

You are closer to your destination than when you first started.

A little while more and you will be rewarded.

konfusedgee:
This is my experience,
I got into Forex in 2019, omo I saw money been made from just clicking a button and I decided there and then I must conquer Forex

Boy was I wrong, straight to live trading, didn't even know what demo acct was, deposited my first $100 grew it to $120 withdrew all my money to confirm it was real and brokers were not playing or joking with me,, when I held that $20 profit, I knew Ive found a skill worth learning, watched all the YouTube videos, developed strategies, but the good thing was that I hardly blow accounts, once my money gets half of what I deposit I withdraw

Losses back to back, till I started feeling like I was unlucky in the business, I would backtest on demo, but when I go live, I will lose money

At some point when I click buy, that is exactly where the market would start selloff,, I didn't understand anymore

The losses got so bad that I promised myself that if I can make $1 a day, I am okay,

I discovered synthetic because I can risk as litte as $1 on each trade. deposited $20, made $2 for two days and blew the account......my trading confidence was scattered, I was like after how many years I have invested in forex I cannot even make $1 a day for even a week.......I was no longer interested in being a baller, I just wanted consistent money, no matter how little it was.....
took a long pause from forex

These days I mostly trade Naked charts, market structure and liquidity,,,,I like to trend trade.....,. I am a superstar on demo, perfect risk Management, great discipline and patience.

Trading doesn't excite me anymore, infact I feel sad when the money keeps coming in on my demo account but I cannot perform on my live account........ Everything just seems to go wrong when I go live, I started to hate trading money because it doesn't come with peace of mind,,,,, you will always ask yourself if you can replicate the performance next time you hit the markets

I think maybe because I am underfunded on my live account I tend to overexpose my trades, the journey isn't an easy one


For me no breakthrough yet, no crazy wins, no $1 to $1000,. Everytime I attempt anything risky, I am very sure I will be unlucky and blow the account.. we still on the grind, no giving up

Thanks for sharing.

You will get consistent with time (the duration varies for each individual).

Overtrading will unduly lengthen your learning till consistent profitability period. Do your best to avoid it.

It's just a matter of time, everything will soon be fine.

Keep grinding!

All the best!

INCREDIBLEGUY:
i need to spoke in tounges for this one. i started my trading journey in 2019. during the covid.. that was when i started to loose. 100 dollars. the other time 150 dollars. 50, 30, 10 , 20. 50. and there about. the other time i fund about 10 dollar. it went down to 4 dollars. i took it from 4 to 100. the next day very early in the morning as i wake up. i started trading that was how it moved down till i blow the account. last year 2022. i decided to start afresh again. i started to fund with 2 thousand. 5 thousand and 3 thousand all in naira. and i still blew the account. Finally i decided to fund this year with 10 thousand naira. Thank God that very day or so. that should be last two weeks i made my first 8 thousand in forex trading. as i received the alert like this i come begin happy.

Thanks for sharing bro!
May He that began the good work see it unto completion. Your latter will be greater than your past.

PrinceofWallstr:
I had it rough trying to master this skill, I got into trading 2012 after my NYSC. During our 21 days camping @Blackgold KD, I met a guy named Kola who has been into online currency trading for long, dude is a mastro. After NYSC I couldn't lay my hands on a single job for 2yrs. 2017 I decided to link up with Kola to see if he can guild me into FX. But I got the shock of ma life, he told me he can't teach me FX and if I decide to do it on my own way I will hit rock bottom!

I was angered in spirit, dived into YouTube download all videos I could lay my hands on, at the time I had no penny, I always use MTN night browsing which cost about #50.

I started studying 7 to 10hrs daily and also listening to some podcast ( Alphamind&Chat with Traders) . After 8months of grinding I started straight with Live account, I never knew I was heading into my burial. Within space of 3 months I blew all my money including the one my late dad left for me and my siblings in his estate account. Around 2018 my sisters got admission into university , when my mom informed me , I ran out of house cuz I have lost everything to Forex ( about 4M) . That was how my sisters suspended the whole tin.

Around 2019, I met a friend who introduced me on how to make money online, it wasn't a legit way of making money but I was doing it just to earn a living, I became an affiliate marketer for one of the biggest Adu**t industries ( Crackrevenue) they don't accept Nigerians but I was cleared cuz of ma friends influence, I started clearing money on the table for them, whenever I got paid I will fund my trading account with $200, and kill it within 3 days maximum.

I have tried all the trading strategies in world, but all seem not working.

End of 2019 I quit forex trading. May 2020 I came again after losing $2k on crypto Binance futures. I started again by backtesting using forex tester software and tradinview premium.
I did this for long I can remember, went back again into trading fund my account with $380, within 3 months, I moved the account to $2200 with proper risk management, around December 2020 there was this major news event that happened on Yen, I lost about $8k due to slippage and I came back to square one.

Health issues: 2021 I had hypertension and after few days I was diagnosed of bellpalsy( facial paralysis) I struggled with this for 3months, anyways I got divine healing even though Bellpalsy has no remedy .

Breakthrough: around july if I can still remember I got funded with one of the prop firms FundingTalents, after few months FundingTalent stopped operation, I lost ma $100k account with profit of 8%. February 2022 I secured $200k live funded account and lost it after after withdrawing about overall 18%.

April I got another 200k mff account with 100k ftmo, I didn't withdrawal on the ftmo account and lost.

Overall , by his grace before the end 2022, I have acquired 350k mff and 100tft account.

This is my journey, man had it tough, lost sleep, friends and still haven't fully recovered from the facial paralysis cuz it affect my speech.

If you don't do it , someone else will!

The market seeks to break every trader.
She loves those that are resilient.
I pray for you that the Almighty God will bring healing to your mortal body.
Do this one thing : TAKE LOTS OF WATER
Everything will become beautiful when the time is right!

infofirst:
Humm... Fx market has done a lot of good nd not too good things to me since 2007. In 2015, I took a personal account of $500 +$500(bonus) to $12000. I withdraw $1k & took the acct to $15 k or there about and lost everything in less than one week.
Last year, I withdraw over $25k frm 3 funded $100 k acct and then went to lose the funded accts one after the other.
I have met great traderz tru fx and fx has made mst of them ran away from me after their promises to me were cut short.
@charly20 lost of almost 8% to losing a chance of a challenge acct with me was one shock I experienced last year.I was following the progress until I saw the shock. I almost wanted to use my hands to stop the back to back losses....

When I see many babies boast here, I laughed in swahili.
Note, no one should be blamed for losses but the traders. We risk more than we should. We gamble instead of trading. Brokers have a share especially during highly volatile time when there is slippage but no matter the slippage, if we practice good risk, we would b fine.

Overall, I have been fortunate trading fx. I will not quit because I have paid my dues. So I am not going to quit because I have survived the hurdles already.

Also note, you must change your approach before you can excel. Don't stubbornly refuse to quit. The market is brutal. Brutal than you can imagine. But there is huge reward for the smart, discipline and patient non gambling traders.
I have seen and met all sort of great strategies, great traders, great accts, great Scammers traders, they all failed eventually. The only trader I have seen, the only acct I have seen that do not fail in the long term are those with good risk mgt. I am not talking about 1:10 risk rewards traders not SMC traders... But those that followed the likes of what @meshpips shared.. Trading $1000 with 0. 01 lot and not opening more than certain lot size etc.
Its getting easier nowadays, more instruments data, better access to tech gadgets and internet, networking etc

I hope this random thoughts pass her msg

I refused to delete the 2015 screenshot. Find attached.

Thanks so much for sharing.

haryodehjia:
Sold my home theater for 65k June 2022 and funded my synthetics account and almost lost the account but later came back with huge profit of 500k around August.. Withdrew and bought the home theater(155k) back.
But that period it has been series of losses
Worst of them all was when I was in church dancing cos I was already up with $100 profit,after 20mins checked and saw that I hit sl . Sadness just catch me

Forest is indeed not for the weak

Thanks for sharing! The experiences of a trader a similar to a mixed grill. Stay strong, refuse to give up. Sooner than later, the market will begin to reward you for your tenacity and trust me, the reward far outweighs all the pains of the past.

Goodoption:
I don see shege with my eye.

2022 September , that overnight move that gave us market bottom, I took 100$ to $1400, remember, this is someone's money .

He advice I should keep the account and grow it to $5k.

But haven heard from people's experience about going against mind target, because prior to that time, I only envision growing that account to $1k.

Guess what? I widrew $1200 and sheared it 60-40%

Hoping to grow that remaining $200 but later blew it in 2 days

Use the money buy mff 5k account twice and blew it in less than 4 Days.

Came back to Demo, on my way to a consistent and a disciplined trader.

Thanks so much for sharing. You ended up profitable for that segment of time but consistency was lacking.
My honest advice to you is this:
Get one trade set up that gives you at least 1:2 risk to reward. Trade that set up on only one time frame (it can be any market instrument) but use only one time frame.
Do 50 (fifty) to 100 (one hundred) trades using this set up and time frame.
Now check your profit and loss and the expectancy. If you ended in profit, you now have a demonstrable edge!
Trade only that set up on only one time frame everyday for the rest of your life. Refuse to change that system regardless of what anybody says.

charly20:
Almost lost my mind last year when my trade moved from +8% to -ve % when i almost won meself a prop account. Took a while before I moved on.

Lost another challenge as this year just begun. Dealt with the pain of failure again but this time faster than the previous one. It just means there's still a lot of work to do.

It's a long journey and at some point demo traders will have to put some skin in the game so they know where still needs fixing.

WAGMI still.

Nice!

EASYLIFE4US:
I have [b]lost 2.2 million naira [/b]recently because of Russia Ukraine war, then I was trading strictly usdjpy because the adr was low so I could afford to risk more... I have been blowing 500k accounts on at least 2 occasions before, my wife almost poisoned me because I once made 3500 USD, she begged me to close the trades and I refused claiming that it must get to 5k USD before I close and boom I blew that account a few hours later. I have been trading fx for the past 11 years and I still love the the fx market despite all the accounts I have blown😅

This is good for starters ! 2.2 million "pere"
You still try small. You go soon see better stories.
Just by the way side, around 2011 I lost about a million naira because I saw price at monthly s3. I kept adding to the losing position thinking I was buying at a discount. I continued until the account got blown!
Needless to say, I stopped using pivot points from that time.
These stories now sound funny but back then it wasn't funny at all.
The reward the market pays will make you appreciate all the pains of the past. The rewards far outweigh the pains.

Okay, let's talk "real real" this weekend.
It is a known fact that many people think they will get rich overnight in this business. Many come in with an "entitlement" mentality. Thinking the market owes them anything.
See ehn, pull your ears and listen attentively- this market owes you nothing more than a shipload of pain, shame, testing your mettle to see whether you are truly indefatigable!
What has the market done to you? Let's hear the worst thing the market has done to you.
As for me, this market has taken me PLACES! Yes, I said so!!! You wanna know where I have been courtesy this beautiful market?
I will tell you. I have been to the VILLAGE and back!!! I stayed there for one full year with my wife and kids. Now, I am back to Lagos and things keep getting better with each passing day.
Market don shake you before? Talk your story make we hear. All those kids out there that know not what real traders have been through, get ready to feel the chill in your spine so that when real traders talk next time, you will keep mute and listen!
Dipo Adepoju went from trying to sell his kidney into becoming a maestro in this business. Many others sold their houses at a ridiculous amount just to pay off debt brought upon them by this same beautiful business. Some sold cars, others lost their wife because of the tough times.

Let's hear what the market has done to you!

#real_traders_talk

Apophenia24k:
Please anyone with any money management strategies should please share

TRADE A TITHE HAVE AN EASY FIGHT
This is the only money management counsel I give to people trading their personal (not funded) account.
Trade a tithe (one tenth) of your account such that the market needs to go against you one thousand (1,000) pips before your account crashes/implodes.
For every $100 capital, trade 0.01 lot size
For every $200 capital, trade 0.02 lot size
For every $1,000 capital, trade 0.10 lot size
Stick with major currencies only (the best of them averages less than 150 pips per day).
Take only one position.
That's it!

meshpips:
GBPUSD

Sell at current price 1.2230

Stop loss 30 pips

Let's see whether the trade will be fine before NFP

This one went straight for my stop loss.

GBPUSD

Sell at current price 1.2230

Stop loss 30 pips

Let's see whether the trade will be fine before NFP

meshpips:
GBPUSD

Sell at 1.2388

Stop loss 1.2405

Target price : open

I noticed that I didn't post the trade outcome yesterday.

meshpips:
GBPUSD

Sell at 1.2388

Stop loss 1.2405

Target price : open

The trade is already over 50 pips in profit.

You can exit at 1.2316 and them maybe 1.2298

I need to flatten out all GBP open positions now because of the upcoming news.

GBPUSD

Sell at 1.2388

Stop loss 1.2405

Target price : open

meshpips:
USDJPY

sell limit at 130.28

stop loss 130. 47

Target 130.05

Target reached!

#Intra day pip grabber!!!

Geovanni412:
What matters is what works

It is frustrating to consistently get stop hunted

It kills people's confidence...better for them to switch to higher timeframes

And go down lower to smaller timeframes like 4h and 1h.

An example of how to approach swing trading:
- notice how long it took before the market went down by over 200 pips.
- having patience allowed the trader to avoid shorting into the pullback at the low.
- Even with a s/l of 1 ATR on daily chart, a trader with patience could make a full return on his amt invested after waiting 5 days to trade. If he waited till day 10, he made more than 2x his risk.

Nice bro!

Elliotwaveforec:
Lanshile, why the outburst?

I am sure he is already feeling bad for writing that.

Me na kuku cool guy, he should come and apologize jejely.

That is if pride will allow him.

A few years ago, it was usual to see intra-day traders get bashed.

Swing trading was the "real deal"

Then came the advent of prop firms and most traders quickly realized that these "big boys" do not really seem to favour swing trading.

Nearly everyone including my grandma started running around trying to get intra-day strategies.

SMB capital scalps and they trade plenty money.

If swing trading is what floats your boat, please do you.

I love the beauty of diversity.

Geovanni412:
Solution : how to approach swing trading

After market trends for two days

Do nothing for the next 5 days at least

Check the chart on eurusd or any other currency pair

On average -that trend move you are looking for will only come...

Anywhere between. 5-12 days afterwards

In summary:
- Observe 2 bar uptrend/downtrend
- Wait for 5 -12 days
- Take a position based on your analysis
- Rinse and repeat

This is beautiful if it works for you bro.

I tell people to do whatever floats their boat.

Lanshile:
Meshpips you are really stupid

Okay sir. I agree with you.

In the near future, you will beg me with tear filled eyes.

Learn to control what you spew from your mouth bro.

Ignorance plus arrogance is a terrible mix!

Learn to be humble and learn from those that have gone ahead of you!

That is if you are granted that privilege to be under their tutelage.

See the story I posted . . . nanningbob asked him to come join his private (VIP) group. He had to sell his CAR to raise the minimum amount that will permit him to be in the group.

There is a price to pay!

Here's someone's story . . .

A quick little story from the school of hard knocks:
2006 to 2008 - I started and followed Bloomberg and CNN. Man did I suck at trading. I lost deposit after deposit.
2008 - I started exploring Fx Street. I followed elioticians, harmonic traders, scalpers, long term traders. Information over load and I was jumping from system to system. I sucked at trading and was going nowhere.
2010 - I came across a pragmatic, charismatic, witty, funny prolific trader/poster. This guy was a popular all round nice guy. He could take a chart, put one or two horizontal lines on it and bang on the money all the time. His charts were clean and a breath of fresh air. It was a welcome relief from the information over load. I became so hooked on this trader and could follow him to the moon and back. I and everyone else were doing so well in our trading. The WTF moment came when this guy started posting less and less. We all realized that we were struggling in our trading once again. The wow moment came when he invited me to join him in a private group. I was elated and privileged. The only thing is that I had to come up with $10 000. I sold my car and everything else I could to come up with the money. It was a sh*t load of money that time and especially in South Africa. All went well for two weeks until he started losing big, and in no time my money was gone. It is only later on in life that I would come to realize that he was a range trader and caught us all in his good trading period.
Rest of 2010 to 2011 - I was financially shattered and stopped trading for almost two years.
2012 - I came across a guy here at Forex factory by the name of Nanningbob. I followed each and every post and this is where my trading journey really started making head way. I ultimately followed him to Steve Hopwood's trading forum and have been there ever since. I am eternally grateful to him and Steve for changing my life.

The charts that I post here is a product of over a decade and not just thumb sucked. I know each and every indicator backwards. More so, that it is re producible and I work off a matrix that can show me the state of any currency pair at any given time on any time frame. It may not be everyone's cup of tea, but it works for me.

I wish all traders here a successful journey and sincerely hope that you will not go through the same hard knocks as me.
Cheers

Note: seventeen good years of hard work. Now he has his own indicator based system (his brain child). You sit there, stretch your hands and tell him to hand the brain child over to you for FREE. My man, you must be a GBOMO GBOMO (kidnapper of little children).

meshpips:
USDJPY

sell limit at 130.28

stop loss 130. 47

Target 130.05

@geovanni whilst this ain't an A+ set up, opportunities like this present many times each day.

USDJPY

sell limit at 130.28

stop loss 130. 47

Target 130.05

Geovanni412:
About High and Low of Day


On wide stops:

Wide stop which is protective for scalping would be anywhere from 1-2 ATR on the daily chart.

To be very safe, go for 1.5- 2 Daily ATR

My brother, using a wider stop usually is not the better solution.

For instance, GBPUSD averages about 135 pips daily. If we go by your proposition, I will be needing about 200 pips stop loss.

Since GU gives us a maximum obtainable of about 135 pips each day, we will be putting ourselves in a bad place trading with a 200-pip stop loss.

The risk is now greater than our reward. This on its own is not bad but you will be needing a very WIN RATE to keep the system profitable.

The more correct approach is to have your risk being about half (or even lesser) of the expected reward. Let's imagine a simple entry at the 50% Fibonacci retrace with TP at the 200% expansion level. Here you are risking say 50 pips and expect to capture 150 pips profit.

I win will wipe away 3 losses. So a win rate of just 25% keeps you at break even. Anything higher than 25% tilts you into greenland (profit).

The issue of taking "many" paper cut (small) losses will be handled by your TTI (trade to implosion) which is simply the number of losses one will take before the account gets to zero. If your TTI is set to the industry standard of 50, you will need to be wrong CONSECUTIVELY for 50 times before your account implodes.

So with a $1000 account and a risk to reward ratio of 1:3
You can risk $20 per trade expecting to make $60
You will have 50 tries before the market flattens you out.

I hope this helps? The challenge is in finding that entry that can deliver at least 2 - 3 times what is risked.
I can teach you one method that gives at least 2 times the risk but you will have to pay for it or go the route of finding it for yourself.