₦airaland Forum

jorel1:
Now, this is just for statistical analysis.
This is a small not expensive car for my analogy, Just a question for folks who claim to have been trading since the time of abraham or typically 8 years as they always say, including the forex preachers, tutors, mentors and advisors, .
Has anyone of you ever bought a toy like this with forex money ?? not office work salary money but forex money..
If after 8 years or whatever,
The answer is yes , then Okay
But, if the answer is no, then I guess my merry go round or mirror maze hypothesis is proven.

Hmmm...Word Boss Jorel1,

So, what will it profit any true master trade slasher, who lives by the bushido code, come here and broadcast that he/her owns a holiday yatch in Hawai, or he/she bought an estate worth a $*******.** close to Palm beach with the money he/she made slashing fx?....Probably a few fans who would idolize him/her for a while , but sooner or later when they begin to make contributions that are contrary to what most hold dearly, they begin to lose credibility of what they said they were.

Why should such people come here to waste their time preaching what they have achieved through this profession if it cannot fetch them the sit to the presidency? (lol). At the end of the day we all would still doubt and some would still hate. Like the old adage, said by Lao Tzu: “Those who know do not speak. Those who speak do not know.”

In my own lil opinion, "its not worth it". Let us all continue to enjoy ourselves expressing our faiths and believes in slashing pips on this thread, truth is nuffin else matters

Happy slashing peeps

Hello Peeps,

There is always an issue when crossing high breeds, they either come out well, or they are just not nice looking. I always advice breeders to try and get the best of a particular breed by crossing it with the best of its kind.

Nice weekend Family

Bevista:
I have only recently began to follow this thread, but I could quickly observe that you seem to be one of the most disciplined and conservative traders around here.
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While you approach your trading with some light-hearted humor, you seem to follow a very professional and disciplined approach.
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If you ever consider moving your trading to the next level, then I'm sure we can both work on the possibility of floating a Hedge Fund in the near future. I've got lots of ideas and contacts to FastTrack the process. The key performance benchmarks will be CONSISTENCY (3-5% monthly profit) and RISK MANAGEMENT (single digit DD).
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Happy Slashing!

Hey Boss Bevis,

holluuuuup holluuup holluuuup.....lol, dont mind me jare, funny enough is have always had ideas towards similar ambitions as you.

I have got some crazy ideas too, if you dont mind, you could email me on fxpipping@yahoo.com lets share numbers and hopefully rub minds, who knows?, we could be the next biggest thing coming outta naija.

Thanks for commending my disciplined attitude towards trading, I appreciate a lot boss, only if you knew how much u have boosted my moral to be more disciplined..

Will be expecting your buzz boss

As always; Happy Slashing

Bevista:
If it is possible for a trader to make 100% monthly, that would translate to 1200% annually (i.e. assuming that all profits are withdrawn at the end of the month).
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Now, imagine that all profits are re-invested at the end of each month and the trader continues to make 100% each month, that would translate to a whooping 409,500% per annum. That is an investment of $1,000 will become $4.09m at the end of 1 year.
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While I do believe that it is possible to make 100% returns in any given month, there are two issues to note:
(1) It is IMPOSSIBLE to do that on a CONSISTENT basis.
(2) It is extremely difficult to achieve 100% in any given month when you are trading a large capital.
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I agree with you that most retail traders should strive for consistent returns in the 5 - 10% range. Institutional traders are very comfortable with 2 - 3% returns monthly. A single digit drawdown (at worst 15%) should be the goal of any trader who wants to move his trading business to the next level.

Waow,

Thats quite educative, talking about the accumulative amount of a year's trade when looking at a 100% profit monthly. I believe pro traders kinda relax as time goes by, especially when considering their accounts becoming bigger over the years. If a pro trader does not trade for any body or institution, I think his/her greed dwindles, its all summarized into: "how much does he/she need for upkeep monthly". If the answer is N200,000.00, claculating N300.00 to $1, the trader would need $666.

That means if the trader's capital is $30,000.00, with just 3% monthly, the returns would be $900, hence the trader would naturally focus more on forex seminars, where he/she would impact his/her knowledge to upcoming traders or just choose another hobby that he/she has an interest in.

Hmmm, quite encouraging

Good Afternoon Traders,

I have been pondering on this matter: HOW MUCH DOES AN AVERAGE FX TRADER MAKES, .To be honest, I have seen this topic raised in some foreign forums I have been to, and everyone seem to have his/her own say but in all, the results I get to hear is 5-10% per month.

The few times I have heard Nigerians speak about similar topic, I always get blown away because they say most make as much 100% monthly and if am not mistaken, that means 1200% yearly

I believe this may be possible but again how true is it?

Could anyone throw more light on this fact or fallacy?

Happy Slashing peeps

Ohhhh myyyyyy(in usher's voice),

I under estimated the foe and I got the whooping of the week. To me its like a dejavu thingy, last week I was hit by EUR/USD, it was my last trade for the week, which I took on a thursday and today its a EUR/NZD.

I have a feeling EUR/USD sent his brother (EUR/NZD) after me, seeing my rep was getting too unbearable for him to stomach.....

Anyways, its all good...I made some mistakes calculating this last trade as per risk/reward ratio. I actually exposed 0.5% as against 1% I quoted (my apologies).

In summary:

TRADES : 3
GOOD TRADES : 2
BAD TRADES : 1
PIP LOSS : - 14.8
% GAINS :1.6
%ACCURACY : 67%

This week I had no pip gains, my % accuracy dropped by -13% and my profit declined by -0.4% when compared to last week (No thanks to the so called rookie I looked down on).Tomorrow is my faffing day as you all know. I will be looking at my overall performance in 2 weeks of trading and prbably go for a swim.

Till next week when I come back healed from my injuries

Happy slashing folks

Ohhhh myyyyyy(in usher's voice),

I under estimated the foe and I got the whooping of the week. To me its like a dejavu thingy, last week I was hit by EUR/USD, it was my last trade for the week, which I took on a thursday and today its a EUR/NZD.

I have a feeling EUR/USD sent his brother (EUR/NZD) after me, seeing my rep was getting too unbearable for him to stomach.....

Anyways, its all good...I made some mistakes calculating this last trade as per risk/reward ratio. I actually exposed 0.5% as against 1% I quoted (my apologies).

In summary:

TRADES : 3
GOOD TRADES : 2
BAD TRADES : 1
PIP LOSS : - 14.8
% GAINS :1.6
%ACCURACY : 67%

This week I had no pip gains, my % accuracy dropped by -13% and my profit declined by -0.4% when compared to last week (No thanks to the so called rookie I looked down on).Tomorrow is my faffing day as you all know. I will be looking at my overall performance in 2 weeks of trading and prbably go for a swim.

Till next week when I come back healed from my injuries

Happy slashing folks

Hello Slashers of pips,

I just saw another foe challenging me to a contest, he has no high profile, he doesnt have that reputation I crave for. This trade is just that 1:1 profit loss ratio - meaning: I am stacking 1% to gain 1%, I am trading just because the chart looks promising, more so, it wont be bad to hone my sword skills on this one.

Lets go.

Happy PIP Slashing

Hello Slashers of pips,

I just saw another foe challenging me to a contest, he has no high profile, he doesnt have that reputation I crave for. This trade is just that 1:1 profit loss ratio - meaning: I am stacking 1% to gain 1%, I am trading just because the chart looks promising, more so, it wont be bad to hone my sword skills on this one.

Lets go.

Happy PIP Slashing

Good Morning Ladies and Gentlemen,

I woke up early this morning and notice that there was going to be a minor retracement, so I ran of with the lil profit the trade gave me

In total i slashed 71pips and 1.2% into my acct.

Happy slashing pips

Good Morning Ladies and Gentlemen,

I woke up early this morning and notice that there was going to be a minor retracement, so I ran of with the lil profit the trade gave me

In total i slashed 71pips and 1.2% into my acct.

Happy slashing pips

PipSurgeon:
tanchu man.. i dont intend to act drama with anyone dis year..

, I may adopt the disclaimer thingy fm u oh, mk person no go use gun find me for house say he stake 80% of him acct, and I give am wrong signal.

Happy Slahing folks

PipSurgeon:
EU at critical point. selling GU and EJ..
disclaimer; u r the CEO of ur accnt

LOL@disclaimer; u r the CEO of ur accnt....Nice name boss

Happy slashing

Good Morning peeps,

I hope you guys all rested well and dreamt of slashing some pips today?
Anyways, I have met another worthy foe and I have challenged him to a combat, I pray my skills helps me on this one.
I am risking 0.8% but if my target is hit, I will be getting 2% returns.
Lets go.

Happy Slashing peeps

Good Morning peeps,

I hope you guys all rested well and dreamt of slashing some pips today?
Anyways, I have met another worthy foe and I have challenged him to a combat, I pray my skills helps me on this one.
I am risking 0.8% but if my target is hit, I will be getting 2% returns.
Lets go.

Happy Slashing peeps

sweetmaris:
Sometimes its better to use wider stops...
Anyways still learning the ropes

Hello Sweetmaris,

Its always better to use wide stop losses, in order to give the trade enuff room to mature/misbehave b4 it finally goes your way

Happy Slashing

Hello PIPslashers,

I am done slashing my foe, though it didnt hit my intended target, I using a trailing stop loss which was hit some minutes ago, I noticed liquidity droped and the dangers of a half killed foe coming back for my head was too great a risk to be fooling around, sooo......I finished him off.

Mixed feelings about the trade: "It should have been better" & "I survived this sneaky foe"... At least I have another day to plan for hopefully more profitable battles. I risked about 1% with of my trade and I got 1.4% gaining 69pips.

A picture of my trade and my look after the fight.

Happy slashing pips

Hello PIPslashers,

I am done slashing my foe, though it didnt hit my intended target, I using a trailing stop loss which was hit some minutes ago, I noticed liquidity droped and the dangers of a half killed foe coming back for my head was too great a risk to be fooling around, sooo......I finished him off.

Mixed feelings about the trade: "It should have been better" & "I survived this sneaky foe"... At least I have another day to plan for hopefully more profitable battles. I risked about 1% with of my trade and I got 1.4% gaining 69pips.

A picture of my trade and my look after the fight.

Happy slashing pips

Fartist:
yes Boss i had a good night...morn
which way is EU going today?
i can see your battery is low

Hello Fartist,

I am not trading the EU because it looks choppy and quite unstable judging the time frame I am operating from. Yeah, thank you for observing my low battery, I am charging my phone

Happy slashing pips

toxco:
What's the name of this platform?

Hello Tox.

The platform if FXCM for androids

Hpy Slashing

Hello peeps,

Hope u had a beautiful night?, my first trade for the week, I am seeing a strong trend and Kitana is set as my sharingan has been activated.

Let's slash

Hello peeps,

Hope u had a beautiful night?, my first trade for the week, I am seeing a strong trend and Kitana is set as my sharingan has been activated.

Let's slash

Feshizzy:
Trade Explorer in terms of linking your mt4 account to site like myfxbook.

Regards,
Festus

Good Evening Festus,

not at all boss, more so i actually trade on the FXCM platform or their web based charts, I dont think you can link it to myfxbook, I may be wrong though, I have not researched on it.

Happy Slashing

jorel1:
I didnt know there are tablets designed specifically for forex , I thought all you needed was your internet + android platform to install Mt4 , the tablet or phone specifics is up to you. however google is your best stop to check for tech reviews

Thanks for your input boss

Happy slashing

Hello Pip Slashers,

Concentrating on my next slash while I wait for my SETUP to unfold

This is one fit that makes trading difficult. Waiting, just concentrating on your next line of action. I find it very difficult to master because all through life one is so used to been active when you are working... In essence when one says I am busy or I am working it means he should be active, but I tell you, the best innovations that were ever built in life where first built in the mind.

So meditating sometimes is all you need to hit it BIG.

May the pips guide you.

Hello Pip Slashers,

Concentrating on my next slash while I wait for my my SETUP to unfold

Please any info on a good tablet strictly for FX within the range of 50k?

May the pips guide you.

Hello Guys,

Abeg, I am thinking of getting a tablet for strictly trading (that no mean say I no go game ontop am from time to time sha), which would you advice if I am not willing to spend more than 50k.

You candid opinion would be appreciated

May the PIPs guide you slashers

EmmanuelD1st:
I know a successful trader with a 30% win rate... The professional trader would advise below 2% (this advice is mostly for newbies or wannabe traders) because blowing up your equity would be difficult, that way the new trader will try out systems that could work, control emotions, instill patience, discipline etc in trading [it will take close to a hundred trade without a win (which is practically impossible)to blow up an account on a 2% risk]. About 20% profitable system not being a system; Sir, I have a system which is 20% profitable, it has a RRR of 1:6, risk/trade 1%. Sir, I presume you are an experienced trader, do the math, it's a profitable system.

.

Hmmm, I have been going through this topic of % profitability as against how good a trader really is. Well, in my opinion I have observed something abouth trading, and that is: Even if your trade is 80% profitable and you risk 10% per trade, I bet you that sooner or later you will be slashed so badly, you may not be able to recuperate, did I hear sopmeone laughing and asking WHY?, the reasons are:

1. NO ONE PREDICTS WHICH TRADE IS PROFITABLE: If I take for example 10 trades and my winning ration is say 50% and I risk 20%, my first 5 slashes (trades) may go against me and that is sure death because I would be losing 100% of my blood(account), a trader who has not been hit bt the market yet is only getting lucky, probably his first 4 trades he gets 2 profitable ones, so that covers up for the loss. However like I said, it is only a matter of time... he will someday meet a bloody battle.

2. YOUR GOOD TRADES BOOSTS YOUR MORAL: Have you ever had a losing streak?, where you lose 5 to 8 trades one after the other?, it happens to even the best of us and I must confess you loss more moral than dollars, you begin to doubt yourself and feel the market is looking out for a revenge, you start breaking all your rules if you are not careful and then blaming everyone but you.

I belive a good trader should always bank on how many good predictions he makes and how he manages those predictions viz a viz a solid money management skill. In my lil research in the years I have been trading, I have noticed the so called professionals in the game work more on CONSISTENCY than hitting THE BIG ONE. One of my greatest inspiration is the FATHER OF THE CANDLESTICKS (Munehisa Homma). He invented the candlesticks we use today and that was his only guide... Guess what?...he made a hundred profitable trades (slashes) consecutively or all his trades where hits from back to back like Olamide would say (lol).

Imagine taking a 100 good trades , what would be your profit?

Anyways that my own lil point of view

Slash on Traders

Feshizzy:
Hey Mate, do you have a trade explorer?
I am motivated by your style of trading.

Regards,

Good Morning Fesh,

By "Trade Explorer" u mean?

Happy PIP Slashing

Moneyyy:
Greed is when you risk more than necessary, and for me I'd say when you risk more than 2% of your equity. It's not necessarily about the number of pips you risk.
And yes when I lose I walk away with a smile, I don't try to chase it like a newbie. And yes such discipline comes with years of experience. It's not about whether you lose or win today or this week, it's about being profitable in the long run so losing money today or even for several weeks means nothing to seasoned traders. Like I always say, it's a marathon and not a sprint and the earlier you approach trading with that mentality the better.

Well said boss[color=#000099][/color]

harizonal123:
Pls how long do u leave an open trade b4 closing it , if it refuses to go in your direction & what time frames do u use in trading?

Good Evening Boss horizon,

For your first question - I earlier mentioned on this thread that I am a swing trader: meaning I stay on a trade for as long as two days if need be, my guiding rule/principle is hw viable the set up I am on is.. More so I trade with stop losses. That again decides how long I stay on a bad trade, buh again my stop losses or risks per trade does not exceed 0.8 - 1%.

For your second question, I trade the 4hrs or daily chart but my bread and butter is the 4hrs chart boss...

I hope I hv answered your questions?

Good Evening my people,

Today is my Lazy day, I keep Friday's holy like I earlier mentioned, I have been looking at prospective chart for next week and shinning my sword that has been messed up wif pip blood (lol)

A run down of what happened this week: TRADES : 5
GOOD TRADES : 4
BAD TRADES : 1
PIP GAINS : 209
% GAINS : 2
%ACCURACY : 80

This is a very important skill which has made me a better slasher through the years. Keeping a SLASHING JOURNAL makes the journey from a beginner to a pro slasher faster. I am very particular about my % accuracy in every week's break down. Slashing 5 times and delivering 4 lethal blows is a good way to start my first trading week of the year.

Wishing you guys an awesome weekend.