₦airaland Forum

Peejayz:
it only has 20 percent stop out rule ..... Thereby affecting your lot size

Basically trade however you want so long as you don't get stopped out?

Peejayz:
So finally, my 300 dollars cash prize has landed in my broker account, and I have requested for withdrawal asap..

Nice one. Does the competition have lot size rule?

seeteazain:
Bossman I still dey await response

Sorry, response on what?

samfelly:
[/b]

And that road still far

You are closer than you think

samfelly:
True confession: I LACK DISCIPLINE!

... Very funny.
Truth is we all lack discipline. That's why we must master our psychology to a point we overcome our impulse

LincolnOnyeabor:
How much for this account sir??

40usd because I chose an add-one of two weeks payout.

I decided to move my strategy testing to a live account. I need to operate on a real market conditions to be sure I can rely on it and also build the right emotion alone the line.
For instance, I took two trades that did not meet all my setup conditions just because I knew that if they did well I would pass on Friday and I chop SL, Funny enough the one that still met the condition still chop SL taking away 3.2% of my account . If it were still practice account I am 100% sure I wouldn't have taken those two particular trade. I would have just been 1.1% down.
The point I am trying to make is this, no matter how good you trade in demo, try use a small live account to actually practice. I went for 5k stellar lite because it's the most affordable and I can afford to lose that amount practicing.
Once you get into a live mode you tend to forget everything you know because the adrenaline to meet up gets into the equation from no where.
Well, I was able to recover from that draw down and came to 6% today.
The point I am trying to make is, if you have what it takes try practicing with a live account. Even if it's a cent account. The emotions are not the same no matter how small the money is. All the bad behaviours you will likely display will come out quicker so that you can deal with them.
Let's keep Pip fishing.

Cashhy11:
It's the same person operating those other accounts by proxy. Only one of them can trade, the other siblings are just copying the trade. Nigerians must sha do madaru with everything. Na wa o. At least they shouldn't have made it this obvious.

Exactly! The funny part is that he was still overdoing in the other accounts. Why open more than one account in the first place?

Aremolekunowo:
The GBPUSD sell trades I picked yesterday at 1.30015 is now running almost 80 pips. BE and holding to at least 250pips profits.

I think GBPUSD is bullish overall and targeting such huge amount of pip may be risky

Donsheddy:
Na daily bread i dey hustle...
First withdrawal on 25k incoming...
I don delete mt4 make i jejely lock down this one....

... Village people gat nothing on you

24hrUplift:
Rodger that..bro.

Nice strategy 👍

These are my trades from Monday to this morning.

If I had still maintained the strategy as it was previously, I would have still be on the EURGBD, CADCHF Trade which I entered on Monday and I would have been on a draw down. That was why after three weeks of trading I decided to close the trade at the end of the day if it doesn't give me the push I want considering that I take trades both for pull and continuation of trend. On Tuesday, I had two trades of CADCHF and GBPJPY which didn't hit TP however, GBPJPY cover my cost of operation. This morning, I spotted another opportunity on CHFJPY and EURJPY which paid me well.
Now the advantage I see so far in this strategy is the ability to give me opportunities almost on daily basis. I place a USDCHF trade which I decided to close and make this post.
Monday was not good neither bad because I closed at about 30usd
Tuesday was about 70usd
Today I have made 400+ usd.

I will continue with my experiment as my goal is to make sure I come back to prop stronger than they are. Their greatest weapon is slippage, and that brought about me trying to create this strategy.

24hrUplift:
I've been thinking about your trades surviving the days, may I ask your usual position for stop loss?

.. like 100 point? 200 point? or what is your stoploss strategy?
.
I mostly swings through the weeks, so stop loss is rarely used. I only focus on my target TP..

Stop loss is between 25 to 50 pips. The aim to avoid being hit by slippage which is extremely high among prop firm companies. Targeting 1:1 on average is to avoidable waiting too long to hit TP considering how long it takes to make hundred pips on most pairs. However, since this week, I added a twist to the strategy, instead of waiting to hit Tp, I close my open trades before the close of the day because there will always be fresh opportunity next day.

OfficialP:
how come?

Geovanni412:
Do whatever works for you.

Yeah, that is what I am trying to do

Cashhy11:
You didn't explain in full details like this in the previous post. If you did. I wouldn't have made a suggestion against it. Fire on boss.

No worries. You are actually right with what you said. For a verified strategy, making changes its not necessary if the failure is for a while. Just that for this strategy I am still working on it.

Geovanni412:
Your problem is simple..

On gbpchf, eurcad ...you were trading countertrend, and rather than scalping, you decided to swing.

If market has not broken daily or weekly or 12h lows, any sell move you are taking is likely to fail within a couple of days.

Well, what I can't say is if my decision was wrong or right. I have a strategy I am testing and I want to stick to that. There are certain ranges I expect price to hit base on history and it doesn't have anything to do with trend as there are reversals in every trend. It's still a Beta phase. What I am testing is not based on conventional knowledge. It's based on discoveries made while looking at the chart for years. I am not going to complicate it by bringing in unnecessary analysis that doesn't change nothing. People who make those analysis you mentioned still hit SL. I want my trading to be as simple as a primary 2 exam.
The tweak I suggested is the only thing I will add to the test and see what the result will be.

Cashhy11:
You only want to tweak because the two trades you held onto ended up being losers, or because the week as a whole ended at a negative balance. If they had won, you wouldn't think of tweaking it. And that's the mistake we all make most of the times. Few setbacks with a strategy, we start working on it to become better till it even becomes worse.

No matter the tweaks, you would still have a losing week from time to time, losing months sometimes as well. But having more winning weeks and months than the losing ones is all that matters.

I'd advise you don't tweak anything yet. At least wait and see how next week plays out and the upper one before making that decision. You've won all these while leaving trades overnight, just one losing week and you've forgotten how profitable leaving them overnight has been.

Just an opinion though, have a lovely weekend.

[b]I am actually tweaking because this is a second week that ended in a loss. Now while these trades run, I study them. I don't just enter them and go away. That EURCAD was green for three days before the news. The EURSGD was green all through but the swap alone for the two trades was 70usd which is insane. Mind you, while I hold these trades for days , I spotted many other opportunities that I couldn't take because I was holding on to these trades. Same thing happened last week. Most of the trades that hit SL could have ended up not to if they were closed same day. Having two straight week of losses is not bad, however, I am testing this for prop firm and you need a strong psychology to stay afloat. In my previous week at a point I was up to about 8% on my account but because it's a test I held on till those trades hit SL and brought me back to about 2%. This week I lost 2.4% because of the same reason.
That been said, I am still building this strategy and I think it's best to make adjustments to it if there is room for that.
In conclusion, the attached screen shot is that of other opportunities that I couldn't take in the strategy testing account that I took on an FTMO demo I opened on Tuesday [/b]

Still on my test of 1:1RR. This week was not good. Had many opportunities but because I wanted to hold two pairs at most until they hit TP or SL. I didn't take any other trades up until Thursday evening. I had two trades from Monday to Thursday dangling between TP and SL.
Having said that, I am going to add a tweak to the strategy:
I will close all trades by the end of the day irrespective of the status. This way, I can take on new opportunities the next day.
The setup and entry criteria will remain the same.

Xxxxtentacion2:
I bought a challenge with funds for traders .
Am almost completing phase two of the challenge they closed my account.
I didn't take any trades I just came to see losses.
Am not seeing losses on the mt5 platform but am seeing losses on the prop firm platform.

Their support is redirecting me somewhere else and nobody is responding to me on discord.

Take your complain to PropfirmMatch.

EXLOVER:
In trading you really need maximum concentration and discipline, today i blowed my account of $534 trading the news, I went opposite direction with 9 positions, I went mad after that, while taking my bath I realized the mistake i made on USDJPY. I would have made $1200 from that market, I just learnt trading the news (cpi) two weeks ago. I felt like giving up, this life everything you worked for can be lost under few minutes. All my analysis, all the fuel i burn, skipping meal sometimes all gone because of just a silly mistake. I have $100 left. I’m just crazy right now after converting my lost to naira, I can’t say this to someone i know physically, just have to pour it out here.

Number one rule of the game, don't trade with what you can't afford to lose. I am not going to tell you sorry because it's part of the game. You can't get better without getting worse. This loss is part of your course outline towards becoming successful. Mourn and pick yourself up. You can't see a successful trader that doesn't have these kind of stories.

dmahn:
Okk.. Got this 10k account June last year with the help of samfelly and donsheddy. Today I have successfully breached the max DD rule. It was a real struggle from the beginning to the end

This is third prop challenge I'm failing, the first was the alpha capital free 5k, second is the 5ers $1 5k bootcamp....

And we go again!!!

1 year? You get real patience oo.

firstbornjoy:
Anyone who has dealt with reliable broker should kindly give me the name of such broker. Brokers who do not delay one's withdrawal and is rendering relatively good service.

Blueberry markets, ICmarkets, globalprime, Fxchief(wide spread), exness(wide spread), fbs(wide spread)

PriceActionZ:
Go to twitter, people are crying about maven crazy slippages with evidences and wiping many hundreds of accounts off in recent times. Some were restored after many accusations and counter accusations but majority were breached. They said it's been going on and on, when you make first withdrawal, you will hardly get the second, or when you pass their first challenge, you will hardly pass the second. Some with screenshots even posted their evidence. Can you imagine 30pips stop loss on 0.03 trade took $300 if I remember or $250, but it was more than $200 which eventually breached that account while other prop firms or brokers never even have such spike? I don't have account with them, but I don't think I can have anything to do with them.

That is exactly what they did to me. Not once but three times. However, I felt the one on my funded account more. Maybe because I made 420usd from 5k account in 5 readings day and refused to trade again until my pay out. They said this one na Brainard, they set me up real bad.
That I changed strategy to a wide pip SL is because of Maven. It made me become weary of prop firm.
Just look at the difference in price for their CTRADER and Matchtrader..

twosquare:
Hmmm...which prop firm do you suggest then as best?

I can't say any is the best. However, the cheaper the challenge the higher you are likely to lose your account no matter how good you trade.

Luada:
Who says so I use 20 pips sl sometimes on gold and get 3rr even on nasdaq so it's possible in a long run

I don't trade NASDAQ, and I rarely trade Gold

Luada:
Alright I have a strategy I can share it has high rr multiple if you don't mind, I use it to trade Bitcoin mostly at least you are sure of 3 to 7 rr

I don't trade anything less than 25pips SL. 3 to 7 RR with such SL is not attainable on a long run

twosquare:
Why exclude Maven?

I once had a funded account with them. Did my first withdrawal but na slippage dem use wound me. I lost the account, bought another account after a while just incase that one na mistake. They slipped me to oblivion.
Just by looking at their site you will see the price of CTRADER and MT5 varies because they can't manipulate price on CTRADER.

JasonNOTStatham:
2-3 months? Interesting... Meanwhile will you begin with prop or personal account? There are several giveaway going on currently though

I already trade on a Personal account. However, you know for props it's a totally different ball game because of the rules.
If it's successful, I will use it on prop firm most probably. However, I will do that will only prop firms that offer Ctrader (Maven excluded).

JasonNOTStatham:
Is it me or you are better with the NZD pair? Hopefully a bounce back next week.

Well, this is a strategy I started testing out last week. I want to do it for at least 2 or 3 months to see what the result will be. For now I can't say for sure the currency that does best with it.
Last week I made +4%
This week I lost -2%
Overall I am still positive.
However, the testing continues next week

Luada:
Guy you gain and give it back that what am seeing

This is a strategy testing. If was trading live, I would have ended the week on +4%.

Still on 1:1RR... Ended this week on 2% loss. Next week the test continues.