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Nairaland Forum / Nairaland / General / Business / Forex Trade Alerts: Season 21 (335381 Views)
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Re: Forex Trade Alerts: Season 21 by Feshizzy(m): 9:47pm On Jul 16, 2021 |
Tony142: |
Re: Forex Trade Alerts: Season 21 by Nobody: 10:09pm On Jul 16, 2021 |
Lesson for the weekend: Topic is consistency. Now that the market is closed, do you reflect on your past trades or you just move on? This I do on a regular and enjoy doing it. One of the things I look at is what I will discuss in a bit; that is trades duration distribution. I have taken a picture of my account's trades duration distribution, thoroughly look through and I expect that you should be able to digest, deduce, extract a lot of information from the statistics. I will leave the lessons you learn from it to you and to you alone; if you want to say what you deduce from it, feel free - I'll make my comment on whatever you see/say. 4 Likes 1 Share
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Re: Forex Trade Alerts: Season 21 by WallStreetfx(m): 10:17pm On Jul 16, 2021 |
Make I drop my own quote If na 2000 naira remain for you to chop abeg make uno put aam for forexoo before hunger go finish you. Says by wallstreetfx . You won't find this quote anywhere 3 Likes 1 Share |
Re: Forex Trade Alerts: Season 21 by situations: 10:38pm On Jul 16, 2021 |
Intelligent who made GOLD sell 16|7|2021 your boy did |
Re: Forex Trade Alerts: Season 21 by VlamesIffect(f): 10:49pm On Jul 16, 2021 |
situations:
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Re: Forex Trade Alerts: Season 21 by amolak: 11:09pm On Jul 16, 2021 |
WallStreetfx:it is still the same as, ' don't trade with the amount you can't afford to lose' 1 Like |
Re: Forex Trade Alerts: Season 21 by Feshizzy(m): 11:17pm On Jul 16, 2021 |
amolak: Yeah, but his own version makes more sense He own echo for house the other na oyibo grammar |
Re: Forex Trade Alerts: Season 21 by Tony142: 7:19am On Jul 17, 2021 |
WallStreetfx: |
Re: Forex Trade Alerts: Season 21 by Nobody: 8:22am On Jul 17, 2021 |
haryodehjia:There are good brokers who do not meet this criteria. But any broker that meets this criteria must be a good broker, at least based on market standard. Let me put it this way, not every Buka is unhygienic in their food business. However, someone who actually doesn't play with hygiene will definitely head straight to a fast food to eat. So there are brokers that are good that doesn't come into this criteria but if you want to limit the chances of heading into a bad one, there are things one must look out for. 1 Like |
Re: Forex Trade Alerts: Season 21 by Nobody: 8:26am On Jul 17, 2021 |
Tony142: I understand that there might brokers who don't fit into all these criteria that are okay. However, once you start scaling up your funds you will understand exactly why a broker choice is important. If you trade a 100k usd account for instance, every spread will count, every swap will count, every platform freeze will count, and lots more. 2 Likes 1 Share |
Re: Forex Trade Alerts: Season 21 by WallStreetfx(m): 8:28am On Jul 17, 2021 |
situations: So na you make Gold sell ? |
Re: Forex Trade Alerts: Season 21 by Elliotwaveforec: 9:06am On Jul 17, 2021 |
GabsonFX: The longer the duration, the less likelihood of recording losses. In other words, 2 weeks duration is okay. 1 Like |
Re: Forex Trade Alerts: Season 21 by CopyJoe: 9:26am On Jul 17, 2021 |
GabsonFX: What does the numbers on the x-axis stand for? 1) You cut losing trades and allow winning trades to run. 2) You have more losing trades than you won. But still profitable. Profitable trades (15) vs Lost trades (+ or - 22). 3) You closed most of your losing trades after a day or 2. 4 Likes |
Re: Forex Trade Alerts: Season 21 by fashionnisir(f): 9:45am On Jul 17, 2021 |
NZDUSD on 4 hours time frame, place stop loss at 0.7610 in 61.8 fib |
Re: Forex Trade Alerts: Season 21 by fashionnisir(f): 9:57am On Jul 17, 2021 |
fashionnisir: |
Re: Forex Trade Alerts: Season 21 by Nobody: 10:43am On Jul 17, 2021 |
On point bro, you spotted that swing trading style...great job sir. There are more extracts from it though Elliotwaveforec: 2 Likes |
Re: Forex Trade Alerts: Season 21 by Nobody: 11:02am On Jul 17, 2021 |
What does the numbers on the x-axis stand for? x is time, I guess you meant y, which is a form of profit or loss distribution 1) You cut losing trades and allow winning trades to run. You nailed this, was really expecting it. I was also expecting that you would use this your particular extract to deduce the trading style of the trader here 2) You have more losing trades than you won. But still profitable. Profitable trades (15) vs Lost trades (+ or - 22). You nailed this too. This teaches us that it is NOT only by winning trades, we should not expect WIN! WIN!! WIN!!! all the time. In fact, losing more than the wins don't determine the overall outcome of a trader. This is why I don't shy from announcing my losses here after I post my analysis. Finally, connect point 1 and 2, then we deduce that 1 tells us that those losses are not huge cos "I cut the losses and let profits run" 3) You closed most of your losing trades after a day or 2. Right, this corroborates no.1 in terms of duration. 1 & 3 now means that losing trades cut in a day or 2. Still on point Though there are 1 or 2 more, but overall, you nailed it. CopyJoe: 1 Like |
Re: Forex Trade Alerts: Season 21 by charly20(m): 11:41am On Jul 17, 2021 |
GabsonFX: Individual loses may be greater than individual profits but it does not determine the overall profit. "Cut your loses and let profits run" 2 Likes |
Re: Forex Trade Alerts: Season 21 by AK284(m): 12:53pm On Jul 17, 2021 |
GabsonFX: Na man you be! 32% win rate and you still made good money I think that's a practical definition of proper risk management (cut ur losses quickly and maximize ur profit). In summary you don't need a perfect strategy, What you need is proper risk management 6 Likes |
Re: Forex Trade Alerts: Season 21 by CopyJoe: 1:09pm On Jul 17, 2021 |
GabsonFX: Yes, I meant y not x. 2 Likes |
Re: Forex Trade Alerts: Season 21 by CopyJoe: 1:11pm On Jul 17, 2021 |
GabsonFX: Most of your winning trades did not pass 3 days or 2 days plus in this particular chart. The ones that were more than 3 days rained good pips and moved very well for you to have left it than long. 4 out of the 5 trades that you left running for more than 3 days were closed after 8 days 22hrs. Also, from the chart, the losing trades didn't pass -1.00. Whatever that means. Maybe drawdown. 2 Likes |
Re: Forex Trade Alerts: Season 21 by Tony142: 1:57pm On Jul 17, 2021 |
AK284:. You are wrong boss, what you need is a minimum of 1:2 risk/reward ratio |
Re: Forex Trade Alerts: Season 21 by Nobody: 2:39pm On Jul 17, 2021 |
You are on point, you hit the nail on the head. charly20: |
Re: Forex Trade Alerts: Season 21 by Nobody: 2:43pm On Jul 17, 2021 |
Kudos bro, you got the gist; spot on! Don't forget the psychology too, this one can rubbish both perfect strategy and the proper risk money management. AK284: 1 Like 1 Share |
Re: Forex Trade Alerts: Season 21 by Nobody: 2:45pm On Jul 17, 2021 |
You found one of the greatest deductions in the distribution. Kudos. CopyJoe: |
Re: Forex Trade Alerts: Season 21 by Njspark(m): 3:40pm On Jul 17, 2021 |
NetValueFX:How do you guys pay for the challenge because my bank keeps declining the transaction |
Re: Forex Trade Alerts: Season 21 by Nobody: 3:53pm On Jul 17, 2021 |
Tony142: The Trend is your friend. If a currency is trending down then you short pull back, there is a higher tendency of making profits without a stoploss. A stop loss is a tool, not your friend. The trend is your friend because you know which players are currently dominating the markets. When the market is in an Uptrend, you Buy pull backs. The only scenario where you lose money is when the trend is reversing. |
Re: Forex Trade Alerts: Season 21 by VlamesIffect(f): 3:59pm On Jul 17, 2021 |
AK284: Na wetin lovebiignyansh dey talk that time.... & I learn from the guy... E say with a risk & reward of 1 to 6....person fit loose 8 out of 10 trades and he go still make profit... Now mr gabson fx dun confirm am....na make i go fit strategy wey this stuff go work i dey find noe.... |
Re: Forex Trade Alerts: Season 21 by TradingMaestro(m): 4:12pm On Jul 17, 2021 |
Njspark: Use skrill or neteler |
Re: Forex Trade Alerts: Season 21 by samfelly: 4:14pm On Jul 17, 2021 |
Fibonacci88: I can relate, too - Overtrading and Greed! |
Re: Forex Trade Alerts: Season 21 by Nobody: 4:35pm On Jul 17, 2021 |
Njspark:I have not done FTMO challenge. Let's wait for people who has to talk on that. |
Re: Forex Trade Alerts: Season 21 by samfelly: 4:40pm On Jul 17, 2021 |
infofirst: These right here are some serious advice. If I have all the time, I'll just go back in past Seasons and read up. No qualms I'll simply join that telegram group @infofirst suggested and enjoy what I can there. @Infofirst, thanks a lot 2 Likes |
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