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Forex Trade Alerts: Season 21 - Business (403) - Nairaland

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Re: Forex Trade Alerts: Season 21 by Donvic4u(m): 4:05pm On Dec 07, 2021
samfelly:
When you trade GOLD! you hold your heart in your mouth, because Shit Always Happen

Account almost got wiped! because I went in too early

U didn't use proper risk management, else how will one trade blow ur account

2 Likes

Re: Forex Trade Alerts: Season 21 by Nobody: 4:09pm On Dec 07, 2021
Donvic4u:


U didn't use proper risk management, else how will one trade blow ur account
Tooor
Re: Forex Trade Alerts: Season 21 by infofirst(m): 4:10pm On Dec 07, 2021
samfelly:


Are you referring to traders from here or from another place? Cos, most here are using FTMO. And God's willing, by next year, it's FTMO I am going for - I kinda like them more, irrespective of their seemingly high fees

Mff is cheaper. Plus you get unlimited retake. If you are loaded, and funds is not an issue. Yes ftmo.

1 Like

Re: Forex Trade Alerts: Season 21 by Nobody: 4:10pm On Dec 07, 2021
samfelly:
When you trade GOLD! you hold your heart in your mouth, because Shit Always Happen

Account almost got wiped! because I went in too early
Gold is currently testing the 61.8 fib on 2H timeframe....If it’s successful (upside)...If not(downside)

2 Likes

Re: Forex Trade Alerts: Season 21 by haryodehjia(m): 4:39pm On Dec 07, 2021
GreatestManEver:
Gold is currently testing the 61.8 fib on 2H timeframe....If it’s successful (upside)...If not(downside)
Gold sitting on fib61.8 and also a divergence on Dtf.. A go for long

2 Likes 1 Share

Re: Forex Trade Alerts: Season 21 by haryodehjia(m): 4:57pm On Dec 07, 2021
Please can someone explain what hedging is all about.. Thanks
Re: Forex Trade Alerts: Season 21 by Donvic4u(m): 5:06pm On Dec 07, 2021
haryodehjia:
Please can someone explain what hedging is all about.. Thanks

Buying and selling the same pair at the same time but at different prices

1 Like

Re: Forex Trade Alerts: Season 21 by boom99(m): 5:17pm On Dec 07, 2021
This pair is about to sell but when is the best time to enter?

2 Likes 1 Share

Re: Forex Trade Alerts: Season 21 by samfelly: 5:17pm On Dec 07, 2021
charly20:
We are here now on UCAD. I didn't place any pending orders because we have CAD news coming in tomorrow. This red movement has happened so fast . So I would be looking to see stability in price before going ahead to buy.

If the last swing low (indicated by my white arrow) is broken, I'll be going short.

For now, it is still GU and GJ as high probability trades for the week.

One question. What will go wrong if one SELL from 1.28374? I have often wondered to myself; must one ALWAYS waste such many good pips just to enter at a later hour and then the market says, "Nope, you are not the early bird."

Can't I enter the market at any entry where the market never comes back to touch (for instant that Doji that formed before the candle that took off from 1.28374), again? Be it SELL or BUY. Just thinking out loud here.
Re: Forex Trade Alerts: Season 21 by boom99(m): 5:30pm On Dec 07, 2021
boom99:
This pair is about to sell but when is the best time to enter?

Couldn't enter but if anyone entered he should be in profit
Re: Forex Trade Alerts: Season 21 by charly20(m): 5:32pm On Dec 07, 2021
GU was a bad trade today. UCAD? Still watching. Decision to be made at today's close.

@samfelly, I'm not one to trade with candlesticks (at any timeframe below daily) so I do not use hourly candle stick formation to make my decision. Personally, I wouldn't short from the price you highlighted because

1. That was accumulation, I don't trade LTF accumulation.

2. I already had a point of interest. Patience and discipline demand that I wait for it.

It all boils down to your style.

1 Like

Re: Forex Trade Alerts: Season 21 by haryodehjia(m): 5:42pm On Dec 07, 2021
Donvic4u:


Buying and selling the same pair at the same time but at different prices
Thanks sir

2 Likes

Re: Forex Trade Alerts: Season 21 by Nobody: 5:56pm On Dec 07, 2021
haryodehjia:
Gold sitting on fib61.8 and also a divergence on Dtf.. A go for long
sharp but I don’t trade divergence jare,I don’t really believe in it. Price action ,structure and fib
Re: Forex Trade Alerts: Season 21 by CopyJoe: 5:57pm On Dec 07, 2021
Re-entered GJ.

2 Likes

Re: Forex Trade Alerts: Season 21 by CopyJoe: 5:59pm On Dec 07, 2021
infofirst:


Mff is cheaper. Plus you get unlimited retake. If you are loaded, and funds is not an issue. Yes ftmo.

Exactly.

My target next year is MFF.

Then I can switch to FTMO.

I'm practicing with FTMO. Since the criteria for their free trial will give me an edge to pass that of MFF.

3 Likes

Re: Forex Trade Alerts: Season 21 by CopyJoe: 6:05pm On Dec 07, 2021
samfelly:
When you trade GOLD! you hold your heart in your mouth, because Shit Always Happen

Account almost got wiped! because I went in too early

The reason GabsonFX will never blow his account or have issues that we have now is because he's a Professional Trader.

Their strategy is just part of the equation.

If you have the privilege to interact with consistently profitable traders, you'll see them preaching about risk management every time.

It's key in trading.

In my early days on this forum, boss Infofirst and GabsonFX always talked about Risk Management.

I didn't know how important it was then.

Now, I know.

It's about consistency and not being controlled emotionally by the market.

You have to control yourself.

You are the number one problem you'll have in the market.

Selah.

P.S. Prop firms are very strict with Risk Management.
Re: Forex Trade Alerts: Season 21 by CopyJoe: 6:14pm On Dec 07, 2021
Capital preservation over profit.

Consistent profit is better than one-time profit.
Re: Forex Trade Alerts: Season 21 by Saskay44: 6:32pm On Dec 07, 2021
Gbp aud been nice today...any where it goes aud pairs goes the opposite

Re: Forex Trade Alerts: Season 21 by samfelly: 7:12pm On Dec 07, 2021
Donvic4u:

U didn't use proper risk management, else how will one trade blow ur account

I didn't know there was a news going on and the market was reacting to it. So, I saw a 'supposed' reversal about to form and jumped on it to BUY, but d 'idiot' just continue SELLing. Even b4 I could add SL.

And the lesson I learned from that incident is to always note the times news will be happening, each day

1 Like

Re: Forex Trade Alerts: Season 21 by samfelly: 7:14pm On Dec 07, 2021
GreatestManEver:
Gold is currently testing the 61.8 fib on 2H timeframe....If it’s successful (upside)...If not(downside)

Abeg, a screenshot of the Fib, pls grin
Re: Forex Trade Alerts: Season 21 by abham: 7:27pm On Dec 07, 2021
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Re: Forex Trade Alerts: Season 21 by boom99(m): 8:00pm On Dec 07, 2021
abham:
I be your number one fan like this.


Bro. I beg ooo..

Please I want to use this medium to say I'm sorry for those that I declined their PM or DM. It's because I never really perfect. I still dey test run. Most of my trades i call are here, I make sure I am 99% sure before I do , that's why they end In profit. But the pairs I am still test running I don't call them here, make mockers no finish me. I am a demo trader for now. Please contact the big guys here, I know they will assist you. I promise when I finally get my strategy right I will be of assistance to many.

2 Likes

Re: Forex Trade Alerts: Season 21 by Elliotwaveforec: 8:06pm On Dec 07, 2021
abham:
I be your number one fan like this.

You never ready to trade Forex; you no be fan to Oga them with live accounts and consistent profit we all see here.
Re: Forex Trade Alerts: Season 21 by Nobody: 8:09pm On Dec 07, 2021
samfelly:


Abeg, a screenshot of the Fib, pls grin

2 Likes

Re: Forex Trade Alerts: Season 21 by zonall(m): 8:26pm On Dec 07, 2021
haryodehjia:
Gold sitting on fib61.8 and also a divergence on Dtf.. A go for long

1791 -1794 looks like a good ceiling to dump XAUUSD till 1764.

Close beyond 1794 is strongly indicative of further bullish run to 1806.
Re: Forex Trade Alerts: Season 21 by samfelly: 9:32pm On Dec 07, 2021
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Re: Forex Trade Alerts: Season 21 by charly20(m): 9:56pm On Dec 07, 2021
I have one little question for some us who may have tried myforexfunds.

How does a swing trader manage the drawdown since it is read from whichever is higher(equity or balance)?

My question stems from the fact that the market does what it wants and I trade accordingly. This means an open trade may be few percentage into profit and if the market retraces, I stand to lose the evaluation because reading from my equity to the point of retracement, I may go below the stated DD.

FTMO no give me that kain headache when I do my free trials last month and I cleared it. It's just because of cost that's why I'm looking at MFF but the condition no dey gree.

@GabsonFX, @Donvic4u @any other respectable trader that has tried these firms.

Help a lad

2 Likes 1 Share

Re: Forex Trade Alerts: Season 21 by charly20(m): 10:17pm On Dec 07, 2021
charly20:
GU was a bad trade today. UCAD? Still watching. Decision to be made at today's close.

It has been decided. I'll be looking for shorting opportunities at 1.2750 price area, target at 1.25.

Re: Forex Trade Alerts: Season 21 by exmaysn12000: 10:21pm On Dec 07, 2021
charly20:
I have one little question for some us who may have tried myforexfunds.

How does a swing trader manage the drawdown since it is read from whichever is higher(equity or balance)?

My question stems from the fact that the market does what it wants and I trade accordingly. This means an open trade may be few percentage into profit and if the market retraces, I stand to lose the evaluation because reading from my equity to the point of retracement, I may go below the stated DD.

FTMO no give me that kain headache when I do my free trials last month and I cleared it. It's just because of cost that's why I'm looking at MFF but the condition no dey gree.

@GabsonFX, @Donvic4u @any other respectable trader that has tried these firms.

Help a lad

Don't risk more than the required daily DD at a time. If all your open trades at a given time is at 3% maximum, I don't see how u will violate 5% daily DD. Either in equity or balance
Re: Forex Trade Alerts: Season 21 by charly20(m): 10:50pm On Dec 07, 2021
exmaysn12000:


Don't risk more than the required daily DD at a time. If all your open trades at a given time is at 3% maximum, I don't see how u will violate 5% daily DD. Either in equity or balance

Here is an idea of what I'm trying to get at;
10k account
Open trade : 1% risk
target return (based on opportunity presented):
8%

First price impulse moves equity from 10k to 10,500 (i.e 5% gain),

Market makes a retracement for second impulse sending equity from 10,500 to 10,000 (I.e 5% DD)

Account lost

This is what I mean. I'm trying to understand if that is how the system works so I may plan accordingly if I'm to consider the option
Re: Forex Trade Alerts: Season 21 by cdec01: 11:41pm On Dec 07, 2021
exmaysn12000:


Don't risk more than the required daily DD at a time. If all your open trades at a given time is at 3% maximum, I don't see how u will violate 5% daily DD. Either in equity or balance

This is not always the case. You can still hit maximum daily DD.

From your example, if my RR is 1:2, and the combination of my trades are 5.5% up. If the trades go back to break even or even a little above break even, you could lose the account.
Re: Forex Trade Alerts: Season 21 by ogashman(m): 11:48pm On Dec 07, 2021
Eurusd


Looking for sells at 1.129...



Modified: this didn't play out as predicted.


Overall, I'm still looking for sells

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