funny scene played out at a National Youth Service Corps (NYSC) camp when a soldier caught a corps member sleeping during lectures. In a video posted on TikTok, the corps member appeared to be tired and slept off inside the lecture hall.
The soldier walked to where the corps member was sitting and used his cap to fan him in a hilarious way. As he fanned him, the corps member continued to sleep while his colleagues laughed uncontrollably. Although the soldier did not immediately punish the corps member, people who have seen the video commented that the young man might do a frog jump later.
Na NYSC dey gimme ginger to finish uni. Sweetest thing to do as a Nigerian youth is NYSC.
dmahn: No sir! Adding to losing position isn't gambling. I've seen Professionals add to loosing positions in as much as price is still in the zone. Adding to losing position with proper risk management is the key. It's take a lot of confidence in your strategy to do that
That is when the trader doesn't know how to add to winning trades. Adding to positions helps increase returns on a trade. Adding to losing trades is just gambling.
Drawdown is a more important factor than the number of position you might have on a trade. If a trader can manage em well, it's good.
OfficialP: You are absolutely right. it hurts me that no one (including me) have been successful with prop firm. I know this coming one will be different
Trust me, as long as we ar competing to pass the challenge and not highest profits wins, then its gonna be different. The new 2% daily drawdown rule should capp the failure rate on real challenges because, you've got 6 trading days to violate max drawdown which is a better failure than daily drawdown.
I believe I will grab a prize this time, get funded and do my contributions to the fta community.
PrinceofWallstr: 2% is enough for u to smash the competition bro, risking big a recipe for disaster. Im an aggressive trader like you, in all honesty swing traders are the winners in this industry, my 200k aggressive account is not making any progress but you see my swing account, I have already made 8% from it this month, a month before Easter I made 15% from swing.
2% daily drawdown is good. Let's use it in the contest. Remove lotsize restrictions, multiple entries leads to gambling and over risking.
EmmanuelVi: Length of time one has spent in the trading world doesn't really matter to the art of trading itself; it's about 'how well', not 'how far'.
I began trading in 2017, but guess what? I only just became a trader (well principled) by 2020, during the COVID-19 lockdown. I've just browsing through all the commentaries on the upcoming competition without giving any input, not because I wouldn't want to compete (I mean it would be fun of course, even if I don't bag first place), but because of the rules imposed on risk and money management and that's the most crucial aspect of my trading career, I don't joke with that part cos it's all crunched in the numbers for me, it's applied statistics!
I see the imposed rules as biased (not as in a matter of contempt or greed, no!), biased in the sense that the rules on lot sizes are coming from one school of thought as regards risk management in trading. There 3 distinct ways that risk management can be applied in trading (at least, for what I know so far) two seem to be alike but they're actually different, they are; (1) by lot sizes (2) by dollar amounts (or whatever currency account's based in), and (3) by percentages.
Now the rules here stipulate the 'lot sizes' method which is a total turn of for me as one who uses percentages. I let the stoploss price range of every trade I take decide what lot size I'd use, since I've already decided the percentage of my account balance that I want to risk on each trade. The majority pushing for the competition are coming from the same faction and the few of the minority like me just have to stay back, fold our hands and watch. The last guy that spoke up on this just got shut off without actually understanding him.
If traders like me bow to the risk management rules of this competition, believe me it would make a gambler again instead. It should be noted that lot size limitation doesn't fit into some traders trading plan; this is my input.
Sorry I gave you guys a long read (for those wey even try read to this end.. Lols)
Using more than one entry is how gambling starts. Before you know you start adding to losing trades.
charly20: Why not open a live account even if with $100. Work with your strategy on only 2 pairs at most.
If you risk $2 per trade, you will have to lose 50 times in a roll to lose the account.
If you risk $4 per trade, you will have to lose 25 times in a roll to lose the account.
If you risk $5 per trade, you will have to lose 20 times in a roll to lose the account.
What are the odds your strategy will fail these number of times?
This will help you cherry pick your trades and help you build the proper psyche for a prop firm account.
You have to be strict with it so that time will not pass with you having nothing to show for your efforts.
Be well
Finding the strategy and sticking to it is every thing.
I cld risk 20usd and make 75% of 100usd. Don't mind my failures, it's my own experience. I cannot be strict on myself if I don't do a real demo challenge
infofirst: The rules are to make us better. And fortunately for us, competition is making them better and better.. Like myfundedfx, they have introduced no time limit and thats super great. It can only get better. You are able to trade without pressure
Lol. Like I said I gambled alot. Before I get stopped by daily drawdown. Now it's max drawdown... The contests keeps me from nonsense because I believe people are watching me. Personal contests are worst because it brings the animal in me. But things are getting solved with time. I shld hit their target with ease. Nextime since I now use tp and sl in my trading.
It has to look good inside before they call it pride when success shows. Putting in my ass on the game. I know my profits in future will cover all the loss. I don't want to win and lose it to nonsense drawdown.
infofirst: You have the potential. You are good but overconfidence abi pride is what you need to tame and you will be able to maximize your God given potential.
Boss, I get over trading problem sef but it's all solved thanks to Jesus. Na propfirm failures made me calm now sha. Their rules are too hard for me. And I get to panic and continue my gambling nature. It has reduced tho and I'm more calm and trying to figure what makes money long term.
Riverrun: I remember your case. That's why I am saying one person should not be getting 50k account while others get nothing. If I have @samfelly kind of power, that 50k is better splitted to five 10k account to cover more winners.
Riverrun: @samfelly, please I want to suggest something we all may like or not like. Please guys, this is only a suggestion and it's not a necessity for it to be taken or considered.
We having been having good competitions here for a very long time now, all thanks to some Ogas who has been sponsoring.
God bless infofirst, pipsbasketing, animashaun, teemy and a host of others who have sponsored and impacted lifes in some many ways here at one time or the other.
Now to my suggestion, this competition can be like no other if we have more winners so we can have a better probability of more traders who can make it to withdrawal stage. That's the real success.
So I think that the 50k account should be two 25k account or even five 10k account to reward more winners instead for a better probability of success. What I am saying is let's not put 50k just on one trader.
Please no insult guys, it's only a suggestion for FTA to record bigger success this season with our activities here. Maybe becomes thread of the year.
Anyone who didn't succeed with this can only blame themselves. The Sponsors and good members have tried.
There was this contests that year that I got to the finish line but didn't win anything. What if it happens that there are more winners than the prize available?
PrinceofWallstr: Hey Traders , as I promised to show some love to the community, I wanted to surprise some set of traders but some reached out that I should hold a competition. I should have done this on Easter like I promised but I was grieved, I lost ma pretty daughter. May God grant her enternal rest.. I choose Samfelly as the organizer, the name of the competition will be " For the love of Karien"... First position- $50k mff evaluation challenge and 5k MTN sub.
2nd place - $10k Mff evaluation challenge with 10k MTN sub.
3rd place -5k MFF ...
Samfelly I will reach out to you by second week of May.
Accept my condolences. God grants you the fortitude to bear the loss
NYSC › Re: Soldier Spotted Fanning Corp Member Who Slept Off During NYSC Lecture(pic,video) by PIPSMARSHALL: 8:13am On May 07, 2023
no b today gold dey do hin mystery.
lets see what gonna happen.