₦airaland Forum

sampz:
Wait, what if a position have been entered before the news took place, and TP was reached because of the movement cause my news announcement. Would u still have bridged the terms about news trading?

Ya, na watin happen to me, took the entry on Thursday and Tp hit in Friday.

realone12:
so people like Galleryeasy infofirst and others that sometimes trade during the news how come they neve have this kind of problem ?

That's one of the reasons i give it to MFF, these guys u mentioned have an account with them, you are not restricted by news. TFT has about 4 different types of account (Royal, knight, Standard and another one I can't remember. I think Roya account supports news trading. I have standard and knight.

Kaybee7000:
Abeg do m a favour
Except NFP,CPI AND INTEREST RATE,which other news do u know these people dey take judge with ur experience pls make i dey avoid dem

It depends on the instrument.

Kaybee7000:
The reason y I asked question this morning on the so call news,are u not expected to trade any news or just NFP or CPI alone ,am still yet to understand


I was in 50pips profit before the news and immediately the news is released,them wiped my profit and close the trade for m,I was damn pained and I couldn't even forgive myself

Your own is normal spread issues, they don't place too many conditions when taking evaluation challenges or competitions. You should learn how to manage an open positions during numbers cus spread and slippage are there to kill you.

PraiseGod4u:
But its actually clearly stated no news trading i think

Sure, I didn't read that part, na after I collect gba gbos I come digest the tin, anyways it depends on the account type you are trading.

Pls guys,once you are funded take out time to read and understand the terms and conditions of the account ..I got a soft breach mail from TFT on Friday notifying me that I have violated one of their trading conditions. Omor they deducted the $4k profit I made from the account and as it stands now i have only one warning before I will loose the account.

Modified: The account is $100k knight account, my running position hit Tp 2 minutes after NFP . I never knew that news restrictions was placed on the account cuz during evaluation challenge nothing like that happened.

Emmizay12:
these prop firms got me wondering

MFF said they have 37,000 funded live accounts

if you take the average of these funded accounts
let's say each person has a 50k funded live account on average

that means 37,000 × 50,000= $18,500,000,000 cash funded live

something ain't right here...

seems to me the live funded is just another demo account

Worry less bro, the most important tin here is that you are getting paid, who cares if they are issuing demo or live account I'm not even sure if our regular brokers are giving us live or demo.

OfficialP:
He gets his direction right most of the time, my suggestion is, he might be leaving the trade run to TP or sl even if it means leaving it overnight.

His risk is small, so the DD calculations shouldn't affect him.

Cc: donsheddy

I'm not in any way trying to force my advice or ideas to him, if he is smart he will go back and do the calculations by himself, I'm chronic lover of GU, infact is my favorite once it's live account and I'm pretty doing well with that pair, is hard to see GU vomit more than 50 pips recently cuz of BOA trying to tightening monetary policy. As for him he risk about 40-50 pips to grab 80-100 pips daily. C'mon is unrealistic expect if he is favoured by impact news. For u to do well with one pair your name must be patient, you have to wait like fews days to see good setups whereas reverse is the case, if you are praising him you are doing more harm to his trading journey. As for the risk management,he is solid ..I can't say more

realone12:
Nwadaka how long does it take TFT before they reward you on each of the account you won.. them never reach out to us the 20% people. and to be honest, I don dey fear

you will surely get it tonight

Donsheddy:
Deviated Abit from my strategy....

Decreased sl and increased my risk...well i was thinking the market won't much today....

Great traders are made during drawdowns.. seeing setups daily on GU is something I'm still trying to understand, obviously you don't have a strong game,u just trading any goddam move bro. You need to pause if that account is unlimited and carve out something, from my experience you gonna loose that account once the max Drawdown hits 6%, emotion trading will start cripping in. You can do it bro. Expand the horizon like adding like another one pair cuz the market doesn't move everyday talk more of now that GU can't even vomit more than 70 pips daily unless during numbers.

Emmizay12:
each trade is unique right?

I have lost more money from expecting a certain amount from the market

That's why I said is more of psychology, we are from different school of taught. obviously paying yourself regularly u can never go broke, but the problem here is how many trades are you going to strike accurately? That should be above 50% if I'm not mistaken. Arguably, we know that this is a biz filled with uncertainties, is easy to have 3 straight losers in a row rather than 3 winners. Let's
go back to prop firms evaluation challenges with limited time, you have 35 days to pass and u started ur challenge with poor performance like loosing 3-5 in a row, did you actually think that ur mental game will be in good frame since you know that u always target 1:1rr?

Whereas on my own part I won't care much if I have 5 losers in a row cuz I have this mindset that one good trade will cancel all the looses. Remember that u and I don't even know our winning rate or whatever is called. Anyways, we play by our rules.

Donsheddy:
Well said bro

Ya, bro ..The other time we made same trade call on GU buy before u chicken out, someone taunted me when the trade started pulling back. I careless about the whole the whole tin cuz I know the worst that will happen is that I will loose 1.5% on that trade, guess what ? I still held and passed my phase 2 100k account, and still have some running.. Is more of mental power.

Elliotwaveforec:
Na wa! 20% no want enter for TFT. From 17 back to 14.75. No matter what, 11% will not be touched again till month ends.

That 10% must remain till competition ends.

you will hit 20%, just be calmed and wait for BOJ news, is always crazy if you understand interest rate very well, only GJ,AJ&EJ will give u 20%

saintelvnn:
You're so right there the reason why many are not consistent in this business is they want to have that home runs always, knowing when to adjust with what the market is offering is a top notch advise and definitely when to scale up...
Lock 1:1 and purse your target is another input from my end. I may not be rich now but I'm getting consistent, very important in this our business.

Lock 1:1 , and the market will come back and take you out and later hit ur target. You enter next trade anticipating that it will work only for the trade to hit SL, the 1:1 gotten do go😁.. There is no universally accepted formula towards this game, this thing is more of mental preparedness, strength and conditioning.

Donsheddy:
DAY 6 Of Challenge

GBPUSD BOUGHT...

ENTRY 1.27206
SL 1.26773
TP 1.28175

RR 1:2

. is your like your evaluation challenge account is unlimited, this kind lotsize go take u 4 months to pass . I loaded mad on GU buy , anticipating to pass my 100k phase 2 to challenge today, just 2%. Good luck 🤞

I don go waste the 3% I made last WK on a single trade, na greed go send me back to village . Wanted to mk 12% so that I can buy small Corolla next wk

realone12:
this business is a game of waiting.. you have to wait, wait and wait even if that will cause you to miss out on some trade... learn to WAIT

Easier said than done.

I had this infection late last year, it was one of the scariest moment of my life, went to government teaching hospital for test (urine, swab and blood) all came out as NIL. I took all sort of antifungal and antibiotics, infact doctors wanted to damage my liver until I stumbled upon one YouTube channel that was discussing about Scabies, it then occurred to me that I had it after 5 months of serious itchy and rashes . I took ivermectin dosage and Benzyl for 3 weeks and my health restored back.

Can't wait too see what Fed will do on interest rate and monetary policy, Standing by.

realone12:
but why the daily drawdown and overall drawdown come small like this now compare to the other challenges. and na em come get the lowest leverage

c'mon leverage of 1:30 is enuf for u nah, watin u dey trade? Is on phase account , were u expecting the max DD to be 10 , start with .5% and build buffer , that's how I flipped the thing, it didn't even take up to 16 days.

realone12:
Lol I'm not really that aggressive. it was just for the competition

U understand the scope 👍

realone12:
does TFT ask for proof of residence on their KYC?

Sure, but you don't need it now until u pass the knight account, that account is not for aggressive traders like you, please take it slow when u grab it.

Darkpal:
Unfortunately I was disqualified today. The 17% you saw yesterday was actually the equity and I left the position open overnight. I had a drawdown today during the CPI and due to the fact that tft uses equity based drawdown I violated the 5% daily drawdown rule.

Man u don try ya best, it no easy considering the limited time . This month competition has been so tough and rough for me. Please u should try as much as possible to learn how to manage running positions.

chim14:
If u knw d correct reversal points on ur chart u dont need sl & tp, u jst use mental sl & tp at those points.

I guess you are billionaire now? If you know the reversal points smh

Let's see if BOJ will raise interest rate this week? Yen don suffer too much.

Numbers doesn't care about your technical analysis, wait for it to happen and then react, is inflation news, if the actual is greater than expected,it will strengthen USD, izza a simple thing, short GU,EU and xauusd. Wait for pull back.

chim14:
Yes oo. Am Long on AUDUSD targeting 0.68000 which I knw its going to definitly hit and even go beyond, it may not be today. Seen sumtin very good on higher timeframe

Just pray not to see "higher than expected"CPI figures , you know what that means ? Tightening of monetary policy , potential strengthening the USD.. by 1:32pm your akant go enta margin call

HumbleTrader:
This one get land, dey look for 50k

you are so bad mouthed

chim14:
Cuz am bored & hungry. Market jst dey move slow today no too much action. Abi make I go romance section sef go read gist

na normal tin, today na liquidity building day. Tomorrow we roast people like u

chim14:
I no fit laugh, its a gud one though. Logical👍

😁😁yes nah, is win win for us, u blow,I go use the land open trading hub, if you make some cheese I go collect my initial investment capital with no interest, me I need land oo

chim14:
Oya nw dey there na when u don see person for CNN dat time u go come dey sey bro I loyal😅😅 Better bring ur moni nw

I can invest in you if you can bring your land documents, if u blow d akank ,I go take the land