dmahn:


Dollar Mastercard.

How then do you withdraw since master card rarely receives money?

dmahn:
Who will join me on this currently loosing trade

How did you fund your pepperstone account?

TheCeasar:
good morning fellow nairalanders. Do any of you uses meta trader 4 to trade forex?

90% of traders worldwide use MT4

Me77:

Hi pipfisher can I practice ftmo demo on mt4 mobile app.

Sure. That's what I use.

Piptocoin:


hahahahahahaha. Masters of trading.... 🤣🤣🤣

No truly successful trader will be interested in all those unnecessary baggage of account management.

zedegit:
Please who is using Fxtm Nigeria?

Is it trusted?

If not, is there any better alternative Nigerian broker?

Any broker that doesn't have a minimum of 3.5 star rating on FPA and minimum of 4.0 star rating on Trust pilot with a minimum of 50 reviews don't use that broker. No matter what anyone tells you. Unless you are trading small account size. If you account is in the range of 10k and above stay away from such brokers, one day story go enter for your money.

rainlover:

Can pls throw more light on this..
Do U mean that, u leave the position open Even while its going against your analysis, or you close when market starts trending the opposite direction?

There is a level you enter a trade, no matter what happens price must return there. I have account I only close positive trades at the end of the day and leave the negative. The next day, I add more positions to the negative trades and add more confirmed setups.
I also have an account I close trades when they are within certain marked out region whether they losing or Winning side.

PrinceofWallstr:
The weekend ended with with no volatility, I managed to take only one trade GU this week.
My analysis on AU:
You know the drill after big push, the market needs to correct, I think the market is done for the correctn, from next week I will start looking out for SELL setups to the next zone, we are still bullish anyways. Happy weekend guys

... Today own na forest.

rainlover:

U don't trade gold, do you?

I don't trade anything outside of currencies. My own gold is USDSEK and EURSEK.

H

K

meshpips:


My unpopular opinion is that POSITION SIZING is a better way of managing ones risk instead of using stop loss.

Most brokers will not respect your stop loss in events like the above mentioned. This is when the trader really needs the "saving grace" of the stop loss but it fails.

Why then should I use stop loss if they fail when I need them the most?

Exactly... Stop is meant for people who risk too much with and unproven strategy.

2000pips at 0.01 is about 200usd. If someone has 5 trades that went wrong at 2000pips each on a 5k account, that's 1k.

Stop loss is for regulated trading involving certain amount of risk.

Closed Yesterday trades On my FTMO demo account. This is the third demo account I am trading in preparation to joining prop trading. So far 2.2% has been achieved of the total 5% target.

ILovebigyansh:
Happy New Year.

May the blue pips be with us.

Ok i forgot my password to the vlamesiffect account - that account was purely an alter ego.

We not doing none of that this year.

Yeah I'm the same person. I think some people already knew.

Aside from my HUGE loss on jan 15, 2015. CHF interest rate which i vividly remember. I have been fortunate to not have been blowing accounts and losing a lot of money - LUCKY ME or probably not.

I'm a school dropout - (studying a top medical course in a top university in Nigeria) because of forex but that's story for another day.

There's stories of lots of personal setbacks & strained relationships but it is what it is. You have to do what you have to do...to survive.

Oh and i dedicated my life to learning news trading after that loss - at a point when i was in Pretoria i was privileged to have a brief trading session with ref wayne that man opened my eyes to things the normal eyes couldn't see.

I have had losses but the highest i had was 52% maximum loss. Which was over a 8 month period.

And ever since i modeled my risk assessment or VaR as shevychen said to be hyper conservative i haven't had such huge losses.

NOBODY IS ABOVE THE MARKET, WE (Retailers) ALL ARE AT THE BOTTOM OF THE FOOD CHAIN. YOU EITHER SURVIVE OR YOU GET EATEN.

But the stories I've read here, oh my! We thank God for growth & progress.

Let's keep trading. As some of us here have had that trading breakthrough we all will.

Samfelly don't worry I'll still host the competition has promised but not now. I'm still sorting out somethings since Nov last year.

Before ending Q3 i should have sorted it all out.

Info. I see you. How's it going.

To all my other TOP BOSSES - NOTHING BUT ABSOLUTE RESPECT.

The 2015 incident defiled Stop and take profit. If brokers could go broke then, who are retail traders. People's stop losses and take profits were jumped.

dmahn:



Someone will definitely be wiped away from the market one day. "Everyday for the thief, one day for the owner"

... I have an account that has not experienced stop loss since 3 years and it's vomiting pips like tomorrow no dey. 5 trades at 0.01 for instance will take how many pips to blow a 5k account?

White007:
I have taken time to listen to the outburst of Seun Kuti that triggered the response of Peter Okoye.

Seun Kuti demonstrated an absence of the knowledge of REALITY.

Peter Obi did not lose the PDP primaries, because he left PDP before the primaries. He was smart enough to read the room to know that it is transactional.

Seun called Peter Obi an opportunist cos he actually doesn't know what opportunism is.
Seun by your own definition, opportunism made you a musician.

Your father was an Afro Beat legend and so you saw the opportunity & jumped on it Otherwise why didn't you become a lawyer, engineer or medical doctor?

Why aren't you doing rap music, country, or high life. Why are you doing Afro Beats?
You are the world's biggest opportunist.
You took over Fela's musical instruments, his shrine, his clothing, his genre and probably produced his records.

You're still living in his house, and probably drawing money from his savings.
What an opportunist. Why didn't you wait to be born by a farmer so you can become a musician?

Since it is not Peter Obi the Internet president that will save Nigeria, please can you give us the recipe for saving Nigeria since it is Nigerians that will save Nigeria.

Who among the people vying for the presidency should we vote for?

Sorry to say but you're not informed. Had you been informed, you would have known the origin of Peter Obi's presidential ambition.
Nigerians forced, harangued, threatened PO to contest for president. Your problem is analysed thus; since the movement doesn't have your imprimatur, it should never succeed.

But the truth is "THERE'S NOTHING INSPIRING ABOUT YOU"

Your personality, lifestyle, ideologies cannot be an inspiration to responsible people.
You can only inspire people who share similar ideologies and lifestyle with you.
The marijuana smokers, empty vessels with the highest decibel, those who bare their chests endlessly.

who talk before they think, the uncouth and alayes, those are your kind, those are the people you inspire.

Do not forget that you do not speak for the highly intellectual and responsible Nigerian youths.
You only speak for your kind.

Finally, it is not an offense to seek attention and validation using Peter Obi's name.
You have identified the problem hence your affirmation that Nigeria needs saving.
We await your recipe to save Nigeria.
Cheers.

Credit - Gladiator from Twitter

That idiot has no business being into music. I can't point to one song he sang.

dmahn:


Never ever trade without stop loss.. Wide stoploss is better than No stoploss. It ll save you alot

It depends on account size and risk. Someone can trade without stop loss successfully. I have seen People doing that for years with a drawdown of less than 20%

BinaryRocks:

Which broker?
Does their platform requotes?

Requote in 2023? I can remember the last time I saw a requote alert.

One of my favourite pairs. SEK is the gold of currencies.

Completed the number of trading days for the Alphacapitalgroup Prop firm demo. So I would say I have successfully passed a second demo. 3 more demo to go. Currently on the third one with FTMO. All placed four trades at 1% risk each.

GRIMMJOE:
Trading is hard and simple at the same time, just finally closed positions I have been holding for 12 hours straight.

... You sound like 12hours is eternity!

Elliotwaveforec:
Has Blufx gone bankrupt? Site down for a week now. Traders have been complaining about this and no response from them.

Has the instant funding plan without challenge wrecked the firm?

GRIMMJOE:
So what happens if losing trade begin to eat from the capital.

That's why I am doing a demo first before trying live. Mind you I am already making money from trading. I only fine tuned my strategy to match with prop trading. My intention is to raise 200k USD from an account I will fund separately for this purpose, then use prop to raise 300k

GRIMMJOE:
Can you withdraw a prop firm funded account.

Not the capital.... You can only withdraw the profits.

I said here that my 2023 Forex target is to have 500k USD personal account by the end of the year.

I am already successful with my personal account, however, my trading strategy can't work with prop firm.

I am demoing in prop trading. I have passed one FTMO, About completing a second prop demo with Alphacapitalgroup, currently on a third demo with FTMO. If I successfully pass 5 consecutive prop demo I will buy a 10k account to test the waters. If I make my first withdrawal, I will go for 200k account.

So How do I plan to raise the 500k USD trading capital,

1. I will fund an account with 1k USD that I will start from March and build it to 200k by end of October.

2. Get different prop account to the tune of 2million dollars and use it to raise the remaining 300k.

Elliotwaveforec:

Impulse wave 3 about to happen. Massive buy.

You Sabi your technicals well.

dmahn:


Valid dou. But we are humans, where is the patience. Waiting for days b4 seeing a trade setup on that only pair, the TP isn't still guaranteed. So the growth is going to very slow. I believe price action is price action. Mastering it and taking the pairs that won't ruin our $100/200 account due to R-R.. (Crude oil, sport brent, S&P500, chf jpy etc).. Someone with $100-200 account has no business with Gold, Nasdaq, Dow.... My opinion

I will never trade one pair. I even trade SEK and NOK. The only thing is that I don't go outside of currencies. No metals, no commodities, no indices and no crypto.

Geovanni412:


Fxtm - withdrawal is in minutes.

I was actually one of their first customers when they started, however, over time when other players came into the game it was observed that their spread is not that great.

Abeg Abeg.... Which good broker has a fast local Nigerian bank withdrawal? I am tired of Forexchief! Money that I withdrew yesterday morning is yet to hit my account! Its funny how deposits takes less than 5minutes but withdrawal becomes 2 to 7 business days. It wasn't so at the beginning! This has been my experience for my last 4 withdrawals. It messes up my psychology!

PIPSMARSHALL:


This is wrong. If you are to trade a prop account, 5kusd account size, your daily drawdown would be 250usd. And the target is 400 usd.

On a 500usd account the daily drawdown should be 50usd and a target of 150_300usd in 30days. Worst case Is that he loses 50% in a week. Or blowup in two weeks.

Have respect for the market. Don't gamble for high expectations

Gold is a volatile market... So my opinion is someone with $500 account should avoid it.

Market makers no fit make heaven.

I am back to green

nzechu:
someone just also gave up on forex in a telegram group I belong to, he used to post profits he makes on gold trades, but unfortunately this last CPI bleeped him. he made profit of about $200 on his $500 account, and then losses both profit and capital to news.

it's not easy I know. I have been there, closed my charts for over some time but I am not giving up.

people are making it and some other people are failing. I can be among the people that are making it. its just time. you cannot win 100 percent but u can make ur winnings be more impactful than ur losses.

Someone with a 500usd account has no business trading gold