₦airaland Forum

@beezyblaze and @winconse,

talk is cheap.

Post what you have done so far this week.

Maybe by then we will know who needs to learn from who.

See below for gold and cable trades. Do the pip count. If you need more trades taken this week let me know.

I will be waiting to see what you have done this week.

emmaodet:
But from what have observed in your trading, your risk reward ratio is very poor.
Your stop loss is more than your take profit and that is disaster bro

Risk to reward on its own tells little or nothing.

Until you check what his win rate is, you cannot make conclusions based on the risk to reward alone.

Congratulations @prosperotrading!

XAUTrader4L:
i guess we are on the same page but you were more specific with the numbers. somehow am not interested in selling though i think the right shoulder of a head and shoulder pattern is forming on the 1 hr chart. All the best to you too boss.

Gold has done 200 pips today.

Sellers seem to be having a party.

XAUTrader4L:
would be looking at those zones below to see how price would react if it gets there.

1839.01 was the value area for Friday. A sell at this level should be fine today.

Last week, the value area was at 1806.XX

I expect a re-visit of that level (or slightly lower) before buyers get interested again.

All the best!

blackman007:
Nice one boss, as regards to your last point, does it means that one cant grow a small account to a larger amount?? everyone can't just have access to trade for a proprietary trading firm...

The chance of doing this is very slim without over trading.

@schevygen made this analogy some time ago:

You can trek from Lagos to Abuja but this will take a long time.

You can get on a plane from Lagos to Abuja in a much shorter period of time.

Wanting to grow a small account until it becomes big is like wanting to trek from Lagos to Abuja.

My opinion about the quest for knowledge . . .

1. Learn about the basics (building blocks, elementary stuff)

2. See how you can apply what you learnt in (1) above to the actual markets. Different situations will be put forth before you by the market and you will need to use your understanding of the very basic stuff to deal with them.

3. Regarding risk, the smaller your account size, the larger you will most likely risk so you will need to seek bigger capital IN A CONTROLLED ENVIRONMENT (like Proprietary trading firms offer) so that you can trade a bigger account size, risk very little and still make decent profit at the end of the month.

COOL10:
God,I'm confused.

So how much exactly did I make as profit according to the screenshot

You made less than 1 cent.

Infact less than half a cent.

COOL10:
.

I was just speaking hypothetically.

Here's a picture of a trade I took earlier on my demo cent account. I took a profit of 3.8 pips on a 0.01 lot and it showed me this...

You ought to have used 0.10 lot size

For cent accounts,

0.10 lot size will yield 100 cent ($1) profit/loss for every 100 pips price change.

1.00 lot size will yield 1,000 cent ($10) profit/loss for every 100 pips price change.

Etc

NNOTE: the above written is true IF USD is the counter currency of the pair traded.

CADJPY

Sell?

USDCAD looks like a very good buy at the current price 1.2826

It is over extended to the downside for today in my opinion.

All the best guys!

Gold is ready to sell off.

Take advantage guys!

Current price is 1835.XX

Donvic4u:

based on yesterdays bearish candle.. may be tempted to sell this guy
................................

Hope you were able to exit your GU sell before buyers took over for the day?

Donvic4u:

based on yesterdays bearish candle.. may be tempted to sell this guy



................................

Looks good.

Confluence : back side of trend line plus horizontal resistance.

meshpips:
Sell at 1.3063 then TP at 1.3024 looks good to me

Done!

wuyexzy01:
i think this can be a nice sell on usd/cad... btw its an hourly chart. nice easy pips.
due diligence to be observed.

Sell at 1.3063 then TP at 1.3024 looks good to me

infofirst:
Happy trading week to all.

Infofirst is back!!!

Welcome back bro.

giddy2019:
baba com and taech FC now

Create a LIVE account with TigerWit and fund with the minimum $50 deposit.

Once you do this, you will be qualified to receive their training for free (whether onsite or online).

All the best!

IMAliyu:
it's been ranging with me also, got in at 0.73010

0.7272 or slightly lower should be good for a buy back to 0.7311

When/if it gets back to 0.7311 I can then take sell positions

I already did 42 pips on its way up today.

Cable here.

Expecting 1.3130 or slightly lower

Congratulations @rabbidoracle

Zenith has done 25 Naira.

Good work!

Pipsbasketings:
I would not think of shorting until another day or two. A close below 1.32255 could be a validation

I sold already. Price was over extended for the day

I entered short at 1.32928

surely22:
Bro, I'd suggest you book this profit and exit. Cus that's a safety trade.
It gonn bleed.
Stop Hunt High Drop.

Thanks for the suggestion.

Value area for today is at 0.7293

I expect further buying from there.

djwalata:
I don't think it's d gap,
It's because of NZD news overnight.aud started buying immediately d nzd news was released because of their correlation.
Strong fundamental news like dt always overrules any technical analysis

Check the red line I drew (free hand), that was Friday's close.

Co-incidence right? The buying started from there since yesterday (Tuesday).

The rate news only came during Asian session today.

@pipnator's chart from trading view didn't show the gap (or maybe he zoomed too much for me to see it).

pipnator00:
Out of the trade with a loss now..
But calm down with the talk, NZD interest rate decision is the reason things changed.
We know Aussie news affects NZD same way NZD news affects Aussie pairs.

On the side to sell it again when my conditions are met!

Okay.

pipnator00:
AUDUSD..
Seems we are gonna get a sell if we get a clear break-out.

@pipnator the AUDUSD sell trade failed right?

Let's see one reason why that happened :

There was a GAP UP over the weekend. When price came around 0.7259 that was the gap being filled.

Since it was a gap to the upside, having filled the gap, the next move will be to the upside.

I hope this helps.

pipnator00:
I'm in. Picked my sell stop. If I die, I die right?
4hrs candle closes in about 35mins, depending on how it closes, may add another sell.

All the best!

pipnator00:
AUDUSD..
Seems we are gonna get a sell if we get a clear break-out.

Stay on a buy until 0.7375 or slightly higher

pipnator00:
Baba did I read correctly? You are looking to court those with followers irrespective of those they've hurt in the past to help you market your yet to be released product? Remember when you refused to give winners of the competition you hosted here there wins but insisted they make known their strategies? I remember someone accused of trying to steal their strategies and right now, you are developing to automated trading software with some strategies which you look for those with followers to help in the distribution?

Note Im not accusing you of anything but just interpreting what I see.

I still maintain as next season approaches.. Whoever opens for the next season should more or less act as the Thread Representative to help us maintain decency here. In a situation where something like the case with @Saxy4c, his name/handle should be placed there with a warning to everyone to be wary of dealing privately with them.

A remember something that happened here in the past. One time Meshipp advertised signal service which turned out to be a disaster. I remember, he traded some guys (A Nigerian in Kenya) about $1800 to $0.00 in just one day. The painful part is that he has gone to do the same to others. If we had placed his name in the warning list, such may not have happened again.

Place that act by I think Meshpip contributed to the reason @naijababe left this place because he somehow support @meshpip's signal service and I guess she couldn't stand the dent to her name and she left here.

Bro, all these your stories, hmmnnnn.

Are you sure of what you are saying? Which Nigerian in Kenya?

I sincerely think that saxy4c should not be permitted to leave that Telegram link in his signature.

Such a group should not be on display openly here on this thread if he is to continue posting.

People have to be protected so that we do not get any more of such stories.

Mrbillionaire:
Saxy4c followers are just suffering and smiling. See result 90% loss with all the epistles. chai

The 90/90/90 rule is for real bro.

90% of traders lose 90% of their capital within 90 days of trading.