₦airaland Forum

Hello,

Pardon my re-posting the % losses, I was trying to separate the figures that are joined together, but it didn't work

Hope its easy to understand

Mr. Ekong’s 10 straight losses:

CAPITAL TRADES 1% LOSS
$10,000 1 $9,900
$9,900 2 $9,801
$9,801 3 $9,702
$9,702 4 $9,604
$9,604 5 $9,507
$9,507 6 $9,411
$9,411 7 $9,316
$9,316 8 $9,222
$9,222 9 $9,129
$9,129 10 $9,037


Mr. Kojo’s 10 straight losses:

CAPITAL TRADES 10% LOSS
$10,000 1 $9,000
$9,000 2 $8,100
$8,100 3 $7,290
$7,290 4 $6,561
$6,561 5 $5,904
$5,904 6 $5,313
$5,313 7 $4,781
$4,781 8 $4,302
$4,302 9 $3,871
$3,871 10 $3,483

Good morning fellow nairalanders

Today I promised to talk about one of the most interesting topics in the world (lol), ahhh, don't mind me, it's not the most interesting topic in the world, nonetheless , it is interesting. The topic is called MONEY MANAGEMENT (M. M).

MONEY MANAGEMENT in simple terms is knowing how much you should risk in an investment/contract as against how much you should be expecting in returns. The reason why this is one of the most interesting topics in fx is because this technique is what separates professionals from gamblers.

Let me try and break it further down using 2 different traders and how they run their business. Mr. Ekong and Mr. Kojo have $10,000.00 dollar each as a start-up capital for their business. Let us also run a brief background check on both of them:

Mr. Ekong was once a pro chess player who to a large extent knows the rudiments of discipline, strategy and execution, in his heydays he use to travel around the country meeting other professionals like himself to have a duel for a prize, the prize involved was most times determined by how hyped the contest was, or who was behind the sponsored tournament. Mr. Ekong came out victorious in most matches with a 70% win rate, and in his bad days he had 50% win rate. Over the years he made enough money to lead a decent life style which also entailed raising up a family. As the years went by, he wanted to diversify into other businesses and one day as he was surfing the net, he came across FOREX, he was excited as he learnt more about it and he knew instantly that he had found another passion. His years of discipline in his art (CHESS) kept him focus, and within a short period of time he became profitable.

Mr Kojo was an educational genius, he came out with straight A's from the University and got a good job in one of the most prestigious financial institutions in his country, he was an instant hit in his place of work, deadlines always met, projects which entailed a higher level of responsibility were executed with such finesse that made promotions come earlier than they would normally. Mr. Kojo was a natural talent, that kind of talent that came not from excessive practise or labour but from an inherent trait that can be likened to that of Messi (the footballer), he travelled round the country to represent his institution on different occasions. Not long after, he began to seek for a second vocation, as his present job came with some ups and downs which he could not control directly, so he looked for a passion he could control, so he came across FOREX while surfing the net. He fell in love with it and just like his typical self, he believed fx would be just like every other accomplishment he made.

Mr. Ekong and Mr. Kojo both learnt FOREX on their own. While Ekong mastered tools he needed to become successful, Mr. Kojo. Spent most of his time searching for the holy grail or developing it, using complex mathematical formulas that would make even Albert Einstein jealous (lol).
At some point Mr. Kojo seem to be profitable and there were some weeks he would make as much as 100% of his account, a week later he would be cursing underneath his breath, staring at his $0.00 balance on his monitor, a few years down the line Mr. Kojo stopped trading, he felt forex was controlled by some greedy financial institutions that were run by crooks who planned on making themselves rich, using other people's hard earned money.

In contrast, Mr Ekong was still profitable, he wasn't making more than 2-10% profit per month, he wasn't bothered with what rumours on forex profitability had to say, because him been a professional chess player over the years thought him some valuable lessons which were:

1.Discipline
2. Consistency and
3. Passion

Mr. Ekong transferred these attributes into forex and years down the line he became even more successful and he lived happily ever after (lol).

One key factor I would love to look at, which made Mr. Ekong & Mr. Kojo difference play a vital role in the game of forex was 'money management"... Let's look closely at both of them start-up capital

Assuming Mr. Ekong risked 1% per trade, while Mr. Kojo risked 10% per trade and both had a rough week of 10 bad trades

Mr. Ekong’s 10 straight losses:

CAPITAL TRADES 1% LOSS
$10,000 1 $9,900
$9,900 2 $9,801
$9,801 3 $9,702
$9,702 4 $9,604
$9,604 5 $9,507
$9,507 6 $9,411
$9,411 7 $9,316
$9,316 8 $9,222
$9,222 9 $9,129
$9,129 10 $9,037


Mr. Kojo’s 10 straight losses:

CAPITAL TRADES 10% LOSS
$10,000 1 $9,000
$9,000 2 $8,100
$8,100 3 $7,290
$7,290 4 $6,561
$6,561 5 $5,904
$5,904 6 $5,313
$5,313 7 $4,781
$4,781 8 $4,302
$4,302 9 $3,871
$3,871 10 $3,483

Looking at both traders, you don’t have to be a rocket scientist to know that Mr. Kojo would be going through an emotional roller coaster, as a matter of fact, he would be suffering more of psychological turmoil than what his account is going through.

The bigger problem in all of this is that it will take more than 10% profit per trade in order to replenish such an account. Let us closely look at 10% profit per trade using Mr. Kojo’s deteriorated capital ($3,483)



CAPITAL TRADES 10% GAIN
$3,483 1 $3,831
$3,831 2 $4,214
$4,214 3 $4,635
$4,635 4 $5,098
$5,098 5 $5,607
$5,607 6 $6,167
$6,167 7 $6,783
$6,783 8 $7,461
$7,461 9 $8,207
$8,207 10 $9,027

You can see that after having 10 straight wins, Mr. Kojo is still finding it difficult to catch up with his initial capital, looking at this, most would agree that: “It is easier to destroy than to build”. Mr. Ekong would also have to increase his % profit to replenish his account too, but trust me, it is a whole lot easier recovering from a Mr. Ekong’s loss.

Do have a beautiful evening peeps

Happy Pip Slashing

Whooooooooom!!!....send to the medics once more (3 weeks in a row),

Waow, what a way to go, I lost my last trade for the week once more with a whooping 148pips (1% loss to my account)... I must confess the EUR family are really out there to deflate my self esteem anytime my rep enters god mode. in retrospect, my productivity has dropped weekly in key areas which are %GAINS, & %ACCURACY.

A run down of what happened this week:

TRADES : 6
BREAKEVEN :1
GOOD TRADES : 3
BAD TRADES : 2
PIP GAINS : 17
% GAINS : 1
%ACCURACY : 50%

I decided to count my only breakeven trade for the week as a bad trade (I want to be very strict with myself), hence bringing my % accuracy to 50% & %GAINS of 1%, hmmmmm.

Well well well, tomorrow is my faffing day (even a shinobi deserves some rest), having in mind that next week is the last week for the month (should I trade?, should I not), in any case, I will let the market decide that.

I will let my KATANA rest for now and put my mind in deep meditations (lol).

Happy Slashing Folks

Whooooooooom!!!....send to the medics once more (3 weeks in a row),

Waow, what a way to go, I lost my last trade for the week once more with a whooping 148pips (1% loss to my account)... I must confess the EUR family are really out there to deflate my self esteem anytime my rep enters god mode. in retrospect, my productivity has dropped weekly in key areas which are %GAINS, & %ACCURACY.

A run down of what happened this week:

TRADES : 6
BREAKEVEN :1
GOOD TRADES : 3
BAD TRADES : 2
PIP GAINS : 17
% GAINS : 1
%ACCURACY : 50%

I decided to count my only breakeven trade for the week as a bad trade (I want to be very strict with myself), hence bringing my % accuracy to 50% & %GAINS of 1%, hmmmmm.

Well well well, tomorrow is my faffing day (even a shinobi deserves some rest), having in mind that next week is the last week for the month (should I trade?, should I not), in any case, I will let the market decide that.

I will let my KATANA rest for now and put my mind in deep meditations (lol).

Happy Slashing Folks

Bevista:
Excellent!

HAHAHA, TX BOSS BEVISTA

Nice Shot P.B, LOL,

You have to work on your stop loss, it is a lil tight, and it may interefere with giving your target enough time to mature. When you are trying to take SL on your next trades, ensure you give a good range at the same time a very comfortable % risk on your account, if you were observant the day before yesterday, the trades I took were quite torbulent (going to and fro), one was taken out completely and after that the trend went exactly my way. The other two had a very good stop loss, and that worked for me.

NOTE: When taking a good stop loss always note that your account should not be exposed more than what you are comfortable with. For me its 1% or 1.5%. I call this risk in business: Cost in maintaining the work flow, you can call it payment of salaries. If you dont get contracts to execute in 4 months, will your staff go hungry?: for me its "NO". try and risk less while you ensure you make a good kill.

Hopefully over the weekend I will write about MONEY MANAGEMENT skill and how it makes an average trader look sooo skilfull at the end of the month.

Nice one P.B.

Happy Slashing

Good Morning Lovely Pip Slashers,

Hope you guys had a beautiful night rest?, I blv you should, it Thursday and a day before TGIF, I think that alone should keep you guys on a merry mode (lol).Anyways, I had a very short night and am so so so looking forward to my faffing day (Friday).

Yes yes yes, I have been called from my resting place to face the cousin of EUR/USD & EUR/NZD. Today I am facing EUR/CAD ...He tall, dark and ....Ladies I never said handsome (lol). If you recall, I have been having a series of losses associated with this family (THE EUR FAMILY), they have consistently beaten every Thursday for the past 2 weeks, today makes it the 3rd week.

He has taken his stance, and I am ready to dance like a butterfly and sting like a mean bee....I am risking a lil less than 1% and hoping for a lil above 1%. You guys are free to bet on this fight. Fans have already snapped EUR/CAD, he seem to be the one people are betting on

Here I go....Hiyaaaaaaaaaaa

Happy Slashing folks

Good Morning Lovely Pip Slashers,

Hope you guys had a beautiful night rest?, I blv you should, it Thursday and a day before TGIF, I think that alone should keep you guys on a merry mode (lol).Anyways, I had a very short night and am so so so looking forward to my faffing day (Friday).

Yes yes yes, I have been called from my resting place to face the cousin of EUR/USD & EUR/NZD. Today I am facing EUR/CAD ...He tall, dark and ....Ladies I never said handsome (lol). If you recall, I have been having a series of losses associated with this family (THE EUR FAMILY), they have consistently beaten every Thursday for the past 2 weeks, today makes it the 3rd week.

He has taken his stance, and I am ready to dance like a butterfly and sting like a mean bee....I am risking a lil less than 1% and hoping for a lil above 1%. You guys are free to bet on this fight. Fans have already snapped EUR/CAD, he seem to be the one people are betting on

Here I go....Hiyaaaaaaaaaaa

Happy Slashing folks

Good evening foooooolks,

Samurai USD/CHF, prove to be really good at what he does, the fight has been ongoing since morning, yet he showed no sign of submission, I simply bowed out of d bout wif 0.5% increase to my acct and 13 pip gains..

Like they say: "half bread is better than none"

Do have a lovely night rest family

Happy slashing

Good evening foooooolks,

Samurai USD/CHF, prove to be really good at what he does, the fight has been ongoing since morning, yet he showed no sign of submission, I simply bowed out of d bout wif 0.5% increase to my acct and 13 pip gains..

Like they say: "half bread is better than none"

Do have a lovely night rest family

Happy slashing

Good Evening Ladies and gentlemen,

Was born a game freak, I have played every single console mentioned here and am making my move to get my ps4 this year, my favourite game on ps3 is "THE LAST OF US", the mutiplayer is one of the best things I have ever experienced in the gaming world.

I also play soccer (PES is my favourite), and MGS (metal gear solid), a crazy fan or car race like Grand Turismo too, carbon and the like

Big ups to this thread

prettyboey:
Have falling in love with this journey of " pips slashing" i am really learning in order to be a sniper so i can cover your back taken down other pips enemies that are out of your sword's reach....

LOL,

Thank you for having interest in this art, I would appreciate having a cover from your rifle, especially these days that so many enemies (currency pairs) are coming up as our reputation (% gains) is increasing.

Happy slashing bruv

Good Morning Slashers of pips,

Hope you all had an awesome night, wel I tried, I amcurrently looking at a bad guy, long sword, bushy brows, shaggy hair and I hear he got some bad reputation, well, I am going into a duel wif him...I believe my chakra has been replenished and my sharingan activated.

Risking less than 1% and expecting abt 1.5% returns.

Lets go

Good Morning Slashers of pips,

Hope you all had an awesome night, wel I tried, I amcurrently looking at a bad guy, long sword, bushy brows, shaggy hair and I hear he got some bad reputation, well, I am going into a duel wif him...I believe my chakra has been replenished and my sharingan activated.

Risking less than 1% and expecting abt 1.5% returns.

Lets go

Good evening ladies and gents,

Just called it a day, my last ride for the day in the waves of fx has ended, I pulled the plug due to declined market volume and it has been a crazy day for me, I was slashed as a Shinobi, and nearly eaten by sharks while surfing, hw bad could it get?.. But in all I give God all d glory.

A rough breakdown, my EUR/CAD ended up giving me 1.1% increase to my acct, when added to the 0.4 from the previous two trades, u hv 1.5% net profit... Now for pips, I made 156 pips on EUR/CAD, minus 4 pips from the previous 2 trades brings the net pip value to 152 pips....

So, 1.5% increase as against 152 pips, fair enuff, I had someone else snapping me again after my day surfing(dunno why dy snap, I was almost swallowed alive)... Well, just incase, putting my after surf pic here too...

Happy slashing peeps

Good evening ladies and gents,

Just called it a day, my last ride for the day in the waves of fx has ended, I pulled the plug due to declined market volume and it has been a crazy day for me, I was slashed as a Shinobi, and nearly eaten by sharks while surfing, hw bad could it get?.. But in all I give God all d glory.

A rough breakdown, my EUR/CAD ended up giving me 1.1% increase to my acct, when added to the 0.4 from the previous two trades, u hv 1.5% net profit... Now for pips, I made 156 pips on EUR/CAD, minus 4 pips from the previous 2 trades brings the net pip value to 152 pips....

So, 1.5% increase as against 152 pips, fair enuff, I had someone else snapping me again after my day surfing(dunno why dy snap, I was almost swallowed alive)... Well, just incase, putting my after surf pic here too...

Happy slashing peeps

prettyboey:
This dude is making forex all fun to be with...

Thanks bruv,

Life is only lived ones, why not mk it fun?

Good Early Evening Slashers of pips,

Alas, I had a good surf on my second trade(EUR/GBP), I gained 1.5% into my account, bringing my NET PROFIT to 0.4% (dont forget I lossed my first trade due to tight stop loss). I also gained 69 pips, bringing my DEFICIT NON PROFIT PIPS to - 4pips (69-73pips).

I still have the last trade to go...Wish me a good ride.....

Ohh, forgot to send you pics of me captured while surfing (lol)

Happy slashing pips

Good Early Evening Slashers of pips,

Alas, I had a good surf on my second trade(EUR/GBP), I gained 1.5% into my account, bringing my NET PROFIT to 0.4% (dont forget I lossed my first trade due to tight stop loss). I also gained 69 pips, bringing my DEFICIT NON PROFIT PIPS to - 4pips (69-73pips).

I still have the last trade to go...Wish me a good ride.....

Ohh, forgot to send you pics of me captured while surfing (lol)

Happy slashing pips

prettyboey:
I sent an email already

Alrighty...Let the training begin then

Happy Slashing

Hmmmm...(with the tone of a sensei)

Good mornig Master P.B

Like the saying goes, he who seeks shall find, Being a good sniper is a noble art, however it takes years to hone, only patience, persistence and practise can bring forth flawless skills. I call it the triple P's of success.

To start wif, you can E-mail me about what you know in the world of 4x.

Happy Slashing

Whaaaaaam!!!!!,

A bad gush, cost me 1.1% of my trading account and 73 pips worth of blood (dayuum) , I have two more trades running, I still pray that proverbial shark doesnt cut me off.

Happy slashing

Whaaaaaam!!!!!,

A bad gush, cost me 1.1% of my trading account and 73 pips worth of blood (dayuum) , I have two more trades running, I still pray that proverbial shark doesnt cut me off.

Happy slashing

Hello pip slashers,

I am currently on 3 pairs:GBP/CHF, EUR/GBP & EUR/CAD.

I am slashing the first and surfing on the last two, pray I dont end in the stomach of a shark while at it

Happy slashing peeps

Hello pip slashers,

I am currently on 3 pairs:GBP/CHF, EUR/GBP & EUR/CAD.

I am slashing the first and surfing on the last two, pray I dont end in the stomach of a shark while at it

Happy slashing peeps

Good Morning Bobos and bobolets,

So many mad signals today, I already jumped on one (GBP/CHF), I hope it ends well, after I jumped into the fight wif my sword, Omo guy bring out gun, I hope it goes bearish and I have a smile on my lips at the end of the day.

Other than this there are like 4-5 other signals am watching out, as soon as I am comfy with stepping into them, I will beep u guys, today, judgeing from what am seeing (the setups, the waves, I choose to be a surfer).

Happy slashing/surfing pips

Good Morning Bobos and bobolets,

So many mad signals today, I already jumped on one (GBP/CHF), I hope it ends well, after I jumped into the fight wif my sword, Omo guy bring out gun, I hope it goes bearish and I have a smile on my lips at the end of the day.

Other than this there are like 4-5 other signals am watching out, as soon as I am comfy with stepping into them, I will beep u guys, today, judgeing from what am seeing (the setups, the waves, I choose to be a surfer).

Happy slashing/surfing pips

Good Evening Pip Slashers,

Today ha been quite slow, and in all honesty I was begiining to pray for the sun to stand still (just like Joshua),In order for my battle wif Shinobi NZD/USD continue or perhaps end...

I am planning to leave this trade overnight, however i will monitor this difficult fighter b4 going to bed, If I notice any monkey business I will place my stop loss on BREAKEVEN or perhaps steal some pips (its better to leave the enemy bleeding, so that next time you guys meet, he knows who's the boss...or dont u think so?).

The market has been quite slow and market volume almost dead, but like they say: there is always a calm before the storm. However, before the storm comes, I hope I will be prepared.

Happy Slashing

Good Evening Pip Slashers,

Today ha been quite slow, and in all honesty I was begiining to pray for the sun to stand still (just like Joshua),In order for my battle wif Shinobi NZD/USD continue or perhaps end...

I am planning to leave this trade overnight, however i will monitor this difficult fighter b4 going to bed, If I notice any monkey business I will place my stop loss on BREAKEVEN or perhaps steal some pips (its better to leave the enemy bleeding, so that next time you guys meet, he knows who's the boss...or dont u think so?).

The market has been quite slow and market volume almost dead, but like they say: there is always a calm before the storm. However, before the storm comes, I hope I will be prepared.

Happy Slashing

Goooooood Moooooorning my neighbours,

Response: Heyyyy F*** you (lol),

Everytime I say those words, the movie "Coming to America" comes to my mind....Alright alright alright, good morning slashers of pips, hope you had an awesome weekend?, well, for me, not really, I wish I did had a splendid one.

Today I am looking at NZD/USD, a beautiful trend I see, the market may have alternative plans though, in any case I am risking 1% of my account and hoping to gain close to 2%.

Happy slashing

Goooooood Moooooorning my neighbours,

Response: Heyyyy F*** you (lol),

Everytime I say those words, the movie "Coming to America" comes to my mind....Alright alright alright, good morning slashers of pips, hope you had an awesome weekend?, well, for me, not really, I wish I did had a splendid one.

Today I am looking at NZD/USD, a beautiful trend I see, the market may have alternative plans though, in any case I am risking 1% of my account and hoping to gain close to 2%.

Happy slashing