₦airaland Forum

realone12:
Friday market hmmm!!

Friday market is still a big nemesis for a swing trader like me.
the way I fear market activities on Fridays ehh..
a Friday (d1)candle stick can usually wipe off 3 weeks of hard labour in the market.
imagine staying in the market for up to 3 weeks with some decent floating profit only to lose it all on Fridays..most of my big loses usually happens on Fridays.
Fridays are my Achilles (weakness) when it comes to trading the market.
its almost like Gamble.. the market can go either way rapidly and Massively.. and within 2 or less hours of market's madness, all your 3weeks floating profits is wiped off.
still plotting a means to trick my way around Fridays sha..

MONEY247:
Pm...me
Me ...I would give you a strategy that works, ,..
But demo trade before, you invest...


This is not a thread to discuss this.... anyways

richgen:
In this business nobody is a GOAT, champion, FXgod or all those nonsense accolades some fame seeking traders ascribe to themselves on social media.

We all have our struggles.

Just 2 days ago, I got stopped out with 152 pips loss trading oil.

How about that?

Just today I got stopped out with 39 pips loss trading gold and the painful thing is that it went later to my intended direction.

In fact, since January this year I've been really struggling with my trades yet I've been training someone forex passionately for free of course.

Interestingly he's catching up while I struggle with my trades. Although he's not aware

Don't be wowed at all. I'm a neophyte in this business, I may be good at putting down my trade ideas but it doesn't make me an expert.

Trust me anytime my trade idea hit the rocks I'll share here as well. I'm still working on my consistency in profits.

I will be open and honest with my trades here at all times.

I'm here to learn and contribute my tiny bits and I hope I'll benefit from both ways.

I know I'm in the right place.

Be good.

karkinase:
I feel we retailers make this same mistake of thinking market bias can change within a day, after a great study and this recent competition I have come to the conclusion that for market bias takes time to change. Big players set targets monthly and quarterly, all we need do is follow them.

VeeVeeMyLuv:
discipline
Fridays hmmmm...

Forex Sha... let me try my luck and see, let me try my luck and see, na so account take blow enter margin call.

Elonmusk1:
you never cease to amaze me.pls,pls,pls. can I get a paid course from you,I mean you don't have to teach me anything serious,I just need to ask you some questions.at the bolded,let's say Amateur.

realone12:
Friday market hmmm!!

Friday market is still a big nemesis for a swing trader like me.
the way I fear market activities on Fridays ehh..
a Friday (d1)candle stick can usually wipe off 3 weeks of hard labour in the market.
imagine staying in the market for up to 3 weeks with some decent floating profit only to lose it all on Fridays..most of my big loses usually happens on Fridays.
Fridays are my Achilles (weakness) when it comes to trading the market.
its almost like Gamble.. the market can go either way rapidly and Massively.. and within 2 or less hours of market's madness, all your 3weeks floating profits is wiped off.
still plotting a means to trick my way around Fridays sha..

Desperados:
This is what I keep saying. They control the market and manipulate it to their favour.

They work with the higher TFs and the higher TFs control the lower ones.

No 2 ways about it.


know the manipulations of the big players, study what they do and how the market reacts to it, follow and trade with them.

You are bound to make your profit from the market.

richgen:
In this business nobody is a GOAT, champion, FXgod or all those nonsense accolades some fame seeking traders ascribe to themselves on social media.

We all have our struggles.

Just 2 days ago, I got stopped out with 152 pips loss trading oil.

How about that?

Just today I got stopped out with 39 pips loss trading gold and the painful thing is that it went later to my intended direction.

In fact, since January this year I've been really struggling with my trades yet I've been training someone forex passionately for free of course.

Interestingly he's catching up while I struggle with my trades. Although he's not aware

Don't be wowed at all. I'm a neophyte in this business, I may be good at putting down my trade ideas but it doesn't make me an expert.

Trust me anytime my trade idea hit the rocks I'll share here as well. I'm still working on my consistency in profits.

I will be open and honest with my trades here at all times.

I'm here to learn and contribute my tiny bits and I hope I'll benefit from both ways.

I know I'm in the right place.

Be good.

richgen:
I've never bought any paid course and I will never buy one.

I learned and self taught myself Forex mostly through free YouTube videos and I used to learn from telegram group where a guy volunteered to show about 25 of us the way but the group no longer exist due to Ill health of the owner of group. I literally stumbled on the telegram group then.

You can ask me questions if I have the answers I'll give it out to you.

Elonmusk1:
all right,thanks.i have this one question.i saw someone risking a $20 account and opening multiple entries.i mean he was trading 100% of his $20 account and I found that interesting,now the question is "what do you think about such trading?and why are we told to trade only 1-2% of our funds?

richgen:
That person is a gambler and not a business minded person. There is nothing to gain from such foolish trading.

Forex trading is a business with very high risk which give you high returns on your capital but at the same can send you packing out of business in a matter of minutes.

Personally I don't risk more than 0.5% of my equity in any open trade and I advise you not to risk more than 1% of your equity in your trade.

To stay long in this business, you must protect your capital with due diligence.

dannyfxNEMESIS:
I DON CLOSE THIS GOLD WITH 1,100 PIPS

richgen:
I can relate to what you're saying.

Mostly Fridays price retrace to close up for the week. The reason we traders should learn to pay ourselves for our efforts from our running trades in profits during the week.

But some Fridays are exception if there is a high impact news involve like NFP.

Fridays can be profitable if we trade with the flow of market.

richgen:
Relating to this post in quote.

I took a buy trade in NASDAQ after 1:30pm though no high impact news but it's safer to wait and see out the manipulation and then enter in the direction of the daily bias.

So I entered precisely at 2:40 pm after I had seen through the manipulation that began from 1:30pm.

So far I've taken partials of:

1) 54 pips at a short term high,

2) 122pips after an orderblock was printed to continue to the upside

3) 202 pips after second orderblock was printed and moved stoploss at the close of price of the recent orderblock securing about 112 pips in profits.

This making 90% of my open trade closed in profits. I have 10% still running and if it turns against me I have nothing to lose.

Currently it is still running in profits.

I took this trade mainly because the daily bias is bullish and I entered after yesterday high was taken out. As a day trader the daily bias determines where I flow with the price.

Note: The pips taken here doesn't amount to huge money as what defines that is the lots entered as permitted by your equity.

Friday retracement effect;

NASDAQ has been selling throughout this week till yesterday when it started to reverse during NY morning session. This is what happen to some trades in profits from Monday and gbam! Friday it will be wiped off.

Yes this is not the case every week but at the end of the week price retraces back up/down depending on the trend of the week to close for the week.

I was stopped out of my gold trade today with 8pips loss.

I couldn't enter oil buy because I was afraid of the Friday retracement. So no oil trade today.

Attached is the M5 TF of the 10% trade remaining. @charly20 @realone12 @Elonmusk1

Update

Just now stoploss moved 203 pips above entry for the remaining 10%.

DannyFX2638:
move SL to BE

realone12:
wow! now I see your point clearly, and guess what? I'm buying your opinion on Fridays..
I think this is one of the reason why one needs to vent out his frustration and challenges often.. who knows, someone here might come to the rescue with the right solution. just as you came to my rescue now..

now that you have given me hint, its time to critically look into your analysis and fine tune it to fit my trading style. well done bro!!

richgen:
I've never bought any paid course and I will never buy one.

I learned and self taught myself Forex mostly through free YouTube videos and I used to learn from telegram group where a guy volunteered to show about 25 of us the way but the group no longer exist due to Ill health of the owner of group. I literally stumbled on the telegram group then.

You can ask me questions if I have the answers I'll give it out to you.

dotunibrahim7:
Pls share YouTube channels I can learn from.

richgen:
@realone12 I'm happy I can impart my little knowledge and I hope it works out well for you. Thank you.

As an emphasis, we should always be on the lookout for the daily bias and if it's not clear to you enough then don't dive in.

Also if you've missed the move don't chase price especially when NY morning session has ended.

Preferably 4pm Nigerian time.

This is my opinion and it has been working for me. I broke this rule in oil today and I got hands hands burnt with 85% loss.

VlamesIffect:
You no really need to much to learn....

Go

The advanced lessons...i feel that the market has to practically teach you that....the market makes you into a man in the trading space

dotunibrahim7:
Pls share YouTube channels I can learn from.

dannyfxNEMESIS:
HOW DO YOU LEARN FROM SOMEONE WHO IS NON PROFITABLE, OR DID HE TELL YOU HE IS PROFITABLE?

OH OR BECAUSE YOU SEE HIM WRITE EPISTLE? ACTUAL MONEY MAKING NO BE BY EPISTLE O. DO YOUR OWN SEARCH AND LEARN FROM CHARTS.

dannyfxNEMESIS:
HOW DO YOU LEARN FROM SOMEONE WHO IS NON PROFITABLE, OR DID HE TELL YOU HE IS PROFITABLE?

OH OR BECAUSE YOU SEE HIM WRITE EPISTLE? ACTUAL MONEY MAKING NO BE BY EPISTLE O. DO YOUR OWN SEARCH AND LEARN FROM CHARTS.

dannyfxNEMESIS:
I DON CLOSE THIS GOLD WITH 1,100 PIPS

DannyFX2638, your NEMESIS is cum, knocking, again . Just brace up, broda. Brace up ooooo

Elonmusk1:
all right,thanks.i have this one question.i saw someone risking a $20 account and opening multiple entries.i mean he was trading 100% of his $20 account and I found that interesting,now the question is "what do you think about such trading?and why are we told to trade only 1-2% of our funds?

richgen:
That person is a gambler and not a business minded person. There is nothing to gain from such foolish trading.

Forex trading is a business with very high risk that gives you high returns on your capital but at the same time can send you packing out of business in a matter of minutes.

Personally I don't risk more than 0.5% of my equity in any open trade and I advise you not to risk more than 1% of your equity in your trade.

To stay long in this business, you must protect your capital with due diligence.

Go watch Ahmad Danial on youtube then you go know say person dey wey go take Forex do yeye.

He don too know Forex so tay he now sleeps and eats and breath and shits it

samfelly:
Go watch Ahmad Danial on youtube then you go know say person dey wey go take Forex do yeye.

He don too know Forex so tay he now sleeps and eats and breath and shits it

samfelly:
Go watch Ahmad Danial on youtube then you go know say person dey wey go take Forex do yeye.

He don too know Forex so tay he now sleeps and eats and breath and shits it

DannyFX2638:
finally smashed TP