₦airaland Forum

priceaction:
. I am just pushing you na. That is just what I was explaining about hedging if done right. But you know brokers can be funny. Widening spread up to 50pips, you are sunk ,lol. Wicked people

Oh, I forgot to consider the wider spread during market open.

priceaction:
And what happened to vice versa

Let's say you left a buy position on Friday and then placed your TP at 140.470 (red line), on Monday you got amazed because your position was closed at 141.870 where the price resumed which is above your take profit, and you earned an additional 40 pips aside from your TP.

It is also similar to positive slippage because your position was closed at a much better price.


Edit: I think you already know it. You're just pretending that you don't know. Jeez

redcliff:
Someone please shed more light on this

Let's use the gap on GBP/JPY last Monday as an example.

Assuming you left a sell position on Friday and placed a stop loss just above the previous high (red line).

Then on Monday, there was a gap and the price opened at 141.870, your broker will then close your position in that price instead of your stop loss because it is where the price resumed. And you lost an additional 40 pips aside from your initial stop loss.

It is also similar to price slippage because your position wasn't closed on your desired price.

wuyexzy:
oga price action. i can confidently tell you gaps can, do and will always jump stoploss should it occur.

Agreed.

@JLINE What does MP mean? Sorry I don't know.


#intense signals

Got banned after trying to post my IB link here.

I'll never do that again.

Yes this is wrong in the eyes of other people. But on the other hand, it's their life, they can do whatever they want with it. I rarely drink alcohol and I'll look for a woman who's the same as me.

docus:
pro traders do not always stick to that rule(trade with the trens) the know when to trade against the trend. as a pro trader they knw when rules need to be bend.

Swing traders/Counter trend traders

@JLINE This is how I draw my lines. Need your opinion about it.

JLINE:
From the pics you uploaded, it clearly shows you don't have a trading plan...why did you enter those trades ? What were you thinking will happen in the pair ? Seeing you enter sell and buy within two days interval,were you really trading with the trend ?

I'm actually scalping the m5 and m15 charts on this pair using RSI and Parabolic SAR. But after blowing my small account for the 6th time, I decided to remove all my indicators and will now just use Fib retracement and trend lines.

JLINE:
Trade Only With The Trend

This is my number 1 and golden rule. The most important rule of my strategy and the backbone of my trading success: Trade only with the trend. It is unacceptable to break this no.1 rule. If I can't stick to this one important rule, then I am no different to the amateur/mediocre trader.

This is the fundamental rule of all; Trade only with the trend. If I can't execute one simple rule, then I am not a professional. It is that simple; Trade only with the trend, nothing more. People lose money because they don't follow this rule, period.



========================
Explanation:
Do not overlook the most important lesson here in trading. And here is the lesson in bold:
"How can you become a professional trader if you cannot execute one basic/simple rule consistently?"

The alphabets are the basics... Trading with the trend are the basics... The difference between a Professional and an Amateur is that a Professional have mastered the basics. How far do you think you will go without mastering the basics?

I feel a bit guilty.

But thanks for the WoW and inspiration.

I've known this rule for almost a year already (I started live trading in May, 2016). I thought that the "trend is your friend" saying was easy to follow but unfortunately I forget about it during trading.

We'll see my progress. I'm going to post my trade history here.

@JLINE How many times did you wipe out your account before you started to become profitable?

This is a good question


PS: I wiped out my micro acc. 6x already due to wrong scalping.

I'm trading my favorite pair the wrong way.

ENGOLEE:
I'm sorry i can't release my EA. It cost a fortune to get it

How about you share where you bought it.


PS: I never used EAs and would never want to use it. I want to rely on my trading skills.

JLINE:
Yes and think work or worm platform

you mean thinkorswim Trading Platform

JLINE:
Most of those top brokers use the latest trading platforms which are web or the latest one (forgotten the name now).

you mean TradeStation, NinjaTrader and cTrader

JLINE:
Fxtm is bucket shop and ignore that at your peril.

And here I thought this broker was great.

priceaction:
Closed all my trades yestrday night. I dont want any useless gap that can hunt sl, i dont trust brokers on important weekend news.

I'll take note of that.

ENGOLEE:
Please what makes Exness better than FXTM, i wanna knos, though i have aome experience with FXTM and Liteforex.

Well, they're both ECN brokers and both have tight spreads. Maybe the CS of Exness is a little better than FXTM.

wamiikechukwu:
what makes FXTM special? every experience trader i know is complaining about them.

hmmm... I wonder what problem they encountered with FXTM. I'm actually doing great with them.

Fiverking:
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Off topic?

ENGOLEE:
Are you using FXTM?

Hey bro, looks like you're curious about my broker.

@wamiikechukwu is using exness

JLINE:
No I don't, any issues Bro ?

nothin..

JLINE:
We should have at around 1500+ pips if the plans I have comes through.

Hey JLINE, I would like to know if you have a myfxbook profile. Your trades are really good.

PIPsharingan:
If you correctly add your Fibonacci points, you will get the 50% mark exactly resting on the same resistance level I have drawn.

In conclusion, I believe this pair will have a massive sell next week.

I hope this help sir Orfilla?

Wow thanks a lot. Now I'll put sell limits with tight stops of course.

JLINE:
Its supposed to drop, I have a sell currently in gbpusd but not too far though,TP at .2634
Dropped the trade like few days ago here though.

Hello. Do you currently have open trades with the GBP/JPY? Or could you share your thoughts about this pair?

It's my main pair actually.

wamiikechukwu:
GBP, after the election call, i don't think nor believe the GBP can withstand such level, despite USD is weak, but i see the pair coming down.

any objections.

I think it will test the broken resistance first at 1.2700 handle before it will breakout of the 1.2900 resistance.

Just my opinion.

Hello guys. I would like to know which broker are you currently trading with?

Hello guys. I would like to ask which broker you're trafing with?

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