Elliotwaveforec:
Long, SL 1745;TP 1787

VlamesIffect:


But at the end just 2 wins out of 10 with 1:6 makes you profitable.
You need at least 3 wins out of 10 with 1:3 to make you profitable. And it differs with swing traders....but Scalpers that just take small profit or 1:1 is what i am trying to get....big losses can happen unlike in swing were you already understand your risk....

Donsheddy:


Everything is factored in your stoploss...
And how consistent you're...
You can have those two sons and continue with your losing streak and all your profit will go back to the market

VlamesIffect:


Same with 1:3 or any other rr....but a win will happen & when it does....you can gather profit with multiples of 1:3 or 1:4 or 1:6 .....unlike 1:1.

Feshizzy:
I'm still in this EU buy
Let's see how it plays out this week or next week.

Remember always test your strategy brutally for at least 10 years if you want to be a serious trader.

The business is already full of mediocre in form of traders don't be one of them.

If you want to make serious money, you have to take the business serious.

Always be willing to try something new till you find one that you can stick your balls to it.

Trading journey is a very rough and brutal road. That's why you see the so called mentors can't post their trade journal or explorer.

In the eyes of the market everyone is equal, rich, poor, tall, short, male, female etc.


Buy or sell both trader is right in all boils down to patience and discipline

Patience to know when to enter or hold on to a trade.
And discipline to accept what the market gives you. You

Omo I dey drop motivational quote ooo
Tony123 dey learn work for where i dey so




Note: this is not a trade call.

VlamesIffect:


Thanks pro trader...but you didn't say how you deal with the big losses that come with scalping.....

Feshizzy:

Remember always test your strategy brutally for at least 10 years if you want to be a serious trader.

Feshizzy:
he business is already full of mediocre in form of traders don't be one of them.

Feshizzy:

If you want to make serious money, you have to take the business serious.

Feshizzy:
trading journey is a very rough and brutal road. That's why you see the so called mentors can't post their trade journal or explorer.

Feshizzy:
n the eyes of the market everyone is equal, rich, poor, tall, short, male, female etc.

Donsheddy:


Yes it will happen don't forget....
It's easier to hit tp in 1:1 than it is in 1:2 and in 1:2 than it is in 1:3 it all boils down to personality.....

I for one Im a scalper....

I trade with 3:1....

Two wins I'm done for the day....

If I encounter a loss in my first trade for the day...

I recover in the next two trades...
That's it....

I trade like this because i don't have the patient to wait for trades....

And I'm profitable with it, because it's something I've mastered.....

So it all boils down to individual....

Tony142:




I am not comfortable with that name "pro trader" anyway, the amount of loss you will have will depend on your risk to reward ratio, since my risk to reward ratio is 1:1 that means I will be risking 1% of my account to make 1% profit , so losing 1% of my account is not a big loss, as long as the win rate is quite high

VlamesIffect:


Can you give us a practical illustration on a currency pair......if you don't mind... because i am forever open to learning... nobody is above the market.....

Feshizzy:
I'm still in this EU buy
Let's see how it plays out this week or next week.

Remember always test your strategy brutally for at least 10 years if you want to be a serious trader.

The business is already full of mediocre in form of traders don't be one of them.

If you want to make serious money, you have to take the business serious.

Always be willing to try something new till you find one that you can stick your balls to it.

Trading journey is a very rough and brutal road. That's why you see the so called mentors can't post their trade journal or explorer.

In the eyes of the market everyone is equal, rich, poor, tall, short, male, female etc.


Buy or sell both trader is right in all boils down to patience and discipline

Patience to know when to enter or hold on to a trade.
And discipline to accept what the market gives you. You

Omo I dey drop motivational quote ooo
Tony123 dey learn work for where i dey so




Note: this is not a trade call.

VlamesIffect:


I am getting your analysis little by little... So let's say in 1:1 risk rewrd. I am using a s.l of maybe 15pips to get 15pipz profit... not that i am risking 15pips for just 5 or 10pips? ... nobody can win a trade all the time....so i assume maybe you use s.l or not?

Tony142:
I'm still in this EU buy
Let's see how it plays out this week or next week.




Testing strategies for 10yrs is rubbish, why?...because, let assume you are using a monthly timeframe, and in a year u hardly get 2 signals to trade, that means in 10 yrs u will get 10 signals, now let me ask u, is 10 trading signals enough to know if the strategy is good? Of course it is not , so instead of saying 10yrs, I will prefer if u test it using 1,000 signals , but guess what? 100 signals self is too high, why?...because u did not need to test a strategies with 1,000 trading set up to know if it is good or not, a strategy that has 90% win rate, will likely give u 90 wins out of 100 signals she u back test it, the moment u get 90 wins u did not need to bother yourself to test it with 1000 signals again, it is a waste of time testing a 10% win rate strategy with 1000 signals, so for this reasons I will say that


"Testing a bad strategy with 10years data or 1,000 trading set up do not mean the strategy will automatically become a good strategy, It takes only 100 trading signals to know a strategy that have potential of been good" - Tony142





You did not need to be smart to be a profitable traders, infact, majority of mart people are the worst traders u can ever think, why?...because of their ego, they normally have A grade in school, so they are used to always winning, so they entered Forex with that their mentality of win win win, but what they did not know is that Forex and school is not the same thing, so when they make a losing trade it hurt their ego and they fight back by revenge trading , an average people will settle Down for a win rate of 50% and 1:2 RR, but a smart person will wee 50% win rate to be too small for his smartness, so he will be looking for high win rate of 90% that will compliment his smartness, but what they did not know is that it seeing a 90% win rate is 99% hard and they only have 1% of finding it, when dey did not finally found it they GE frustrated, so trading is is even more suitable for mediocre people

taking the business serious does not guarantee you been profitable, in other areas of life when u work hard u will get great result, but in Forex working hard or been serious might not get you any result, this is because Forex was design against human psychology, for example in life we will taught to always have hope, that when there is life there us hope, so most people go into trading with this mentality of having hope, so when they place a trade and they trade goes against them, instead of them to close it immediately, they will still leave it because they have hope that the trade will reverse back to their direction but b4 they know it that trade that was a small loss will turn to a big loss, so u can see that trading is against human psychology, that is why even some extremely smart people still fail to succeed in it, I know people who were not successful in forex after 15yrs of trading, so hard work do not always work in Forex, u need some luck too


Always be willing to try something new till you find one that you can stick your balls to it.

Lol





Forex is an equalizer of wealth, there are 3 equalizer on earth which are

1. Dead: all humans will die, both rich & poor


2. Time: all humans have the same 24hrs in a day, both rich & poor

3. Forex: all humans have the potential of been rich through Forex, & and the market do not give a Bleep if u are rich, poor, educated or not



Buy or sell both trader is right in all boils down to patience and discipline

Patience to know when to enter or hold on to a trade.
And discipline to accept what the market gives you. You

Omo I dey drop motivational quote ooo
Tony123 dey learn work for where i dey so




Note: this is not a trade call.

VlamesIffect:


This trades entry dey make me laugh...the wey you dey chase the price like say eurusd collect something from your hand. what if nfp come go come out strong nko boss? Thay 0.21 lot go chop you.....

Tony142:
I'm still in this EU buy
Let's see how it plays out this week or next week.




Testing strategies for 10yrs is rubbish, why?...because, let assume you are using a monthly timeframe, and in a year u hardly get 2 signals to trade, that means in 10 yrs u will get 10 signals, now let me ask u, is 10 trading signals enough to know if the strategy is good? Of course it is not , so instead of saying 10yrs, I will prefer if u test it using 1,000 signals , but guess what? 100 signals self is too high, why?...because u did not need to test a strategies with 1,000 trading set up to know if it is good or not, a strategy that has 90% win rate, will likely give u 90 wins out of 100 signals she u back test it, the moment u get 90 wins u did not need to bother yourself to test it with 1000 signals again, it is a waste of time testing a 10% win rate strategy with 1000 signals, so for this reasons I will say that


"Testing a bad strategy with 10years data or 1,000 trading set up do not mean the strategy will automatically become a good strategy, It takes only 100 trading signals to know a strategy that have potential of been good" - Tony142

Feshizzy:


The way you take dey counter me,
I hope this also reflect in your trading?
Anyway nice one, we are right i our own opinion.

VlamesIffect:


Ah boss...can you control news.? Anything can happen the moment you open a trade boss...news aside.
All those talk na on paper... reality e no dey sustainable...

Feshizzy:
I'm still in this EU buy
Let's see how it plays out this week or next week.

Remember always test your strategy brutally for at least 10 years if you want to be a serious trader.

The business is already full of mediocre in form of traders don't be one of them.

If you want to make serious money, you have to take the business serious.

Always be willing to try something new till you find one that you can stick your balls to it.

Trading journey is a very rough and brutal road. That's why you see the so called mentors can't post their trade journal or explorer.

In the eyes of the market everyone is equal, rich, poor, tall, short, male, female etc.


Buy or sell both trader is right in all boils down to patience and discipline

Patience to know when to enter or hold on to a trade.
And discipline to accept what the market gives you. You

Omo I dey drop motivational quote ooo
Tony123 dey learn work for where i dey so




Note: this is not a trade call.

Feshizzy:
I'm still in this EU buy
Let's see how it plays out this week or next week.

Remember always test your strategy brutally for at least 10 years if you want to be a serious trader.

The business is already full of mediocre in form of traders don't be one of them.

If you want to make serious money, you have to take the business serious.

Always be willing to try something new till you find one that you can stick your balls to it.

Trading journey is a very rough and brutal road. That's why you see the so called mentors can't post their trade journal or explorer.

In the eyes of the market everyone is equal, rich, poor, tall, short, male, female etc.


Buy or sell both trader is right in all boils down to patience and discipline

Patience to know when to enter or hold on to a trade.
And discipline to accept what the market gives you. You

Omo I dey drop motivational quote ooo
Tony123 dey learn work for where i dey so




Note: this is not a trade call.

Forexislife:
You think traders like that don't factor in news? We are different, people have different strategy of trading. Best believe.

JAkpayen:
@CopyJoe @Samfelly

Impatient traders = Scalpers

Patient traders = Swingers/ day traders

The market rewards both, but rewards those who are patient the more

JAkpayen:


Then you should be able to trade binary options perfectly

CopyJoe:
Another retracement.

This is day 4 of this particular trade.

I was up almost 60 pips yesterday but didn't close. I would have made 1.9% out of the required 5%.

About 16 pips at the moment.

KingPipmarshall:


Copyjoe, learn to scale your trade. Have multiple entries and take some profits off the table.
Or be goal oriented.
If the goal is 5% monthly target, that is 1.25% gains weekly.

I also shorted AU yesterday.

jsheng:

Binary option trade still dey exist?
Abeg give me the link if u have any

jsheng:

Binary option trade still dey exist?
Abeg give me the link if u have any