₦airaland Forum

Oil price still snaking, I just think the price drops just retracement
it is possible to repeat the previous price.

VlamesIffect:
How about normal bank withdrawal option? Instead of make i use hotfx for the ngn account, i go prefer fxtm. Their margin too cheap.

Korapay is the payment processor for Normal Bank Withdrawal just like paystack or flutterwave is used by some companies. The withdrawal options you will see is local banking and nigerian local bank transfer. Korapay is the payment network used to facilitate the local banking. Like i stated earlier, withdrawal with it is in minutes. If you select Nigerian local bank transfer, that one can take up to 24 hrs to reflect.

The only time local banking takes more than a day to withdraw funds is if you try to withdraw funds after 6pm on a friday. That withdrawal can only be processed on the next Monday.

VlamesIffect:
How about normal bank withdrawal option? Instead of make i use hotfx for the ngn account, i go prefer fxtm. Their margin too cheap.

what about octafx?
Are brokers deposit bonus useful, or na trap??

rainlover:
what about octafx?
Are brokers deposit bonus useful, or na trap??

I no dey ever subscribe to all those broker deposit bonus shit....the T & C get so many attachments...if you sabi trade you no need all those T & C attachments.

Geovanni412:
Korapay is the payment processor for Normal Bank Withdrawal just like paystack or flutterwave is used by some companies. The withdrawal options you will see is local banking and nigerian local bank transfer. Korapay is the payment network used to facilitate the local banking. Like i stated earlier, withdrawal with it is in minutes. If you select Nigerian local bank transfer, that one can take up to 24 hrs to reflect.

The only time local banking takes more than a day to withdraw funds is if you try to withdraw funds after 6pm on a friday. That withdrawal can only be processed on the next Monday.

Confirm...make i verify my account on fxtm...

charly20:
I think selling is done. I'm looking to swing long tomorrow.

Yup... There's a double bottom formed on the H1

Kaesyrn:
Hope you didn't get burnt bro

Nah
I think I've gotten smart enough to stay out of the market when I'm unsure. Market psychology na the real deal

Two months ago, I might've said fvck it, it's demo

rainlover:
pls what does it mean, when an accout has the below conditions?
Margin call of 100% and stop-out of 50%.



kozmicity
currentprice
Fxwarrior

I don't understand the question, but if what I think you mean is what it is, maybe your broker means that you'll get stopped out of your trades once your margin gets lower than 50%

Hope you didn't get burnt??

Piptocoin:
[color=indigo]do you know why pigs get slaughtered? they never stick to their rules of "if this condition happens then I shall be a buyer or seller; if not...I stay out even if price is going my intended direction. my system says it is a no-trade setup". Many forex traders (including me) underestimate the power of sticking to rules.

[/color]

Aje... I for dey the side of the pigs na if I entered gold sell

GA setup and UJ sell.

kozmicity:
Aje... I for dey the side of the pigs na if I entered gold sell

[color=indigo]Lol. Good you weren't. My trading motto is never be a pig.[/color]

kozmicity:
GA setup and UJ sell.

[color=indigo]Sell call agrees with my trading system entry. I didn't take it though because I did not want to chase the market after that long candle. Candle retraced to give me favourable entry but I was not watching. AU gave me a perfect sell entry yesterday but I was quite busy and didn't see it early. No chasing after trades is one of my trading rules. Trades just slipping from my hand. Oh well, there is next week.[/color]

I know this is a Forex trading group....
But we all need to get our PVC....

Remember if you don't get involved in politics,politics would get involved with you.... with or without your permission....

Go catch the pips

[color=indigo]In forex trading, experience has taught me never ever to trade hoping the market will move in the direction of your entry. If that is how you trade, then you still have a lot to learn. You must trade from the place or level where momentum is most probable to pick up. Any other thing is gamble and gamblers are asking too much from the market. My 2 cents.[/color]

kozmicity:
GA setup and UJ sell.

Uj sell short term is a little bit late though, in my opinion. the uj is still bullish. Seller should b cautious.

But long-term for swing trader this is the perfect time (4hour time frame double top). That is If the bull run has reached the end.

Piptocoin:
[color=indigo]Sell call agrees with my trading system entry. I didn't take it though because I did not want to chase the market after that long candle. Candle retraced to give me favourable entry but I was not watching. AU gave me a perfect sell entry yesterday but I was quite busy and didn't see it early. No chasing after trades is one of my trading rules. Trades just slipping from my hand. Oh well, there is next week.[/color]

Me too o, I was following it all through the night, but the period it went up was when I took my eyes off the charts, taking my bath, eating, preparing for work, greeting ministry at work.

I really miss this trade after all the hard work of staring at the charts.

Piptocoin:
[color=indigo]Sell call agrees with my trading system entry. I didn't take it though because I did not want to chase the market after that long candle. Candle retraced to give me favourable entry but I was not watching. AU gave me a perfect sell entry yesterday but I was quite busy and didn't see it early. No chasing after trades is one of my trading rules. Trades just slipping from my hand. Oh well, there is next week.[/color]

I'm trying what mark Douglas said, you see a trade that aligns with all the conditions for your strategy, you take it... Don't worry about being wrong or right

GarkiAccessory:
Uj sell short term is a little bit late though, in my opinion. the uj is still bullish. Seller should b cautious.

But long-term for swing trader this is the perfect time (4hour time frame double top). That is If the bull run has reached the end.

Bro, my setup is long-term I should say... It'll take at least 3 days without news interference for my TP to hit. SL much sooner.

As for the bull run, until it starts trending downwards and even breaks past my TP level before I'm certain

GarkiAccessory:
Me too o, I was following it all through the night, but the period it went up was when I took my eyes off the charts, taking my bath, eating, preparing for work, greeting ministry at work.

I really miss this trade after all the hard work of staring at the charts.

[color=indigo]the bolded...[/color]
[color=indigo]you see that staring of charts thing, I have deliberately avoided any timeframe lesser than 1 hour. I may go down to the 5 minutes to look for entry but my setup conditions must be met from the 1 hour chart and above. Staring for long periods make trading really stressful so I can relate when you said after all the hard work staring at the charts.

I also agree with your UJ analysis being bullish still. The sell is only short term until the downtrend is confirmed.[/color]

kozmicity:
Bro, my setup is long-term I should say... It'll take at least 3 days without news interference for my TP to hit. SL much sooner.

As for the bull run, until it starts trending downwards and even breaks past my TP level before I'm certain

I dey fear the uj o, it is good for trend trader at the moment,
Not too good for range trader. It is high on drugs

kozmicity:
I'm trying what mark Douglas said, you see a trade that aligns with all the conditions for your strategy, you take it... Don't worry about being wrong or right

[color=indigo]I love this suggestion or tip. This is why strategy hoppers still think there is a holy grail out there. Not all trades will be a winner because the market will always be the market...it defies any constant because sentiments are always shifting without warning. Solution, ignore the outcome, let the law of averages or large numbers do the profiting for you. Awesome.[/color]

Piptocoin:
[color=indigo]I love this suggestion or tip. This is why strategy hoppers still think there is a holy grail out there. Not all trades will be a winner because the market will always be the market...it defies any constant because sentiments are always shifting without warning. Solution, ignore the outcome, let the law of averages or large numbers do the profiting for you. Awesome.[/color]

Exactly,

That is just it

There is no sure banker, certainty, constants

It is a game of probabilities to some extent.

kozmicity:
Nah
I think I've gotten smart enough to stay out of the market when I'm unsure. Market psychology na the real deal

Two months ago, I might've said fvck it, it's demo

You're on the right path chief

The way UJ dey move ehn.

kozmicity:
Nah
I think I've gotten smart enough to stay out of the market when I'm unsure. Market psychology na the real deal

Two months ago, I might've said fvck it, it's demo

I have maintained this thought since I first arrived here.
15th of July will make it one year since I opened the first $200 demo account to see how fast I'd blow it.

January, I blew the account but i carried the lessons with me and incorporated them into a new $100 demo account in late February Abi march sef and the $100 account is currently $500 and another $200 demo account is $300+

What is all this epistle?
Put in emotions into a demo account and you'll see how fast you'll learn.

WAGMI

charly20:
I have maintained this thought since I first arrived here.
15th of July will make it one year since I opened the first $200 demo account to see how fast I'd blow it.

January, I blew the account but i carried the lessons with me and incorporated them into a new $100 demo account in late February Abi march sef and the $100 account is currently $500 and another $200 demo account is $300+

What is all this epistle?
Put in emotions into a demo account and you'll see how fast you'd learn.

WAGMI

Omo... You learnt it early. I was stuck thinking that if the trade goes against me, I must've done something wrong. It was until April here that I watched 4 hours if Mark Douglas videos on trading psychology that I finally understood. That April I turned $40 to $200 folliall I learnt from him. May I did it again but I abandoned the account at 150 after just two weeks. I felt I was gambling.

I went back to the videos and there was something that caught me there he said "If you don't believe you're worth the money you're making in trading, you'll probably never make money." He also said something along the lines of you've been trading for 4 years now and you think you don't have enough knowledge? That's 4 years is enough to get a degree in school and if it was school would we feel like we weren't worth our salt?? He then said is all about mindset... If you don't feel good enough, you'll never be good enough .

That stuck with me

Kaesyrn:
You're on the right path chief

Dorime...

DannyFX2638 and ogashman, your cup shall run dry, chaos, teeth gnashing day and night in your home

Piptocoin:
[color=indigo]I love this suggestion or tip. This is why strategy hoppers still think there is a holy grail out there. Not all trades will be a winner because the market will always be the market...it defies any constant because sentiments are always shifting without warning. Solution, ignore the outcome, let the law of averages or large numbers do the profiting for you. Awesome.[/color]

So true. Though I'm sad it took me this long to know market psychology. I've been trading since 2018(demo). I'm YouTube schooled but the most I heard about market psychology from other traders was "cut your losses short but let your winners run" "do not be greedy" " don't let your emotions rule you" "trade in the moment"...e.t.c

But none of them ever said how... Shocking isn't it?

kozmicity:
Omo... You learnt it early. I was stuck thinking that if the trade goes against me, I must've done something wrong. It was until April here that I watched 4 hours if Mark Douglas videos on trading psychology that I finally understood. That April I turned $40 to $200 folliall I learnt from him. May I did it again but I abandoned the account at 150 after just two weeks. I felt I was gambling.

I went back to the videos and there was something that caught me there he said "If you don't believe you're worth the money you're making in trading, you'll probably never make money." He also said something along the lines of you've been trading for 4 years now and you think you don't have enough knowledge? That's 4 years is enough to get a degree in school and if it was school would we feel like we weren't worth our salt?? He then said is all about mindset... If you don't feel good enough, you'll never be good enough .

That stuck with me

My aim wasn't to even make profit yet but to outrightly blow the account but not with nonchalance. I tried different strategies, traded limited pairs( something i won't advice a swing trader ), watched videos and what not.

What blew the account was the pairs i have now come to love and understand--- Gold,oil and Nasdaq . Ic.market's minimum lot size for those assets were between 0.5 and 1 (imagine that for $200 )

I ran the account up to $800 and was feeling fly (with dangerous lot sizes, how foolish! ). Before the next day, the account balance was $57. Naim my body cool down.

In those six months, I felt the excitement from seeing plenty profit to the frustrations from losses and limited pairs to the humility of managing account small small.

I'm still progressing anyway but small small, we go dey alright.

kozmicity:
I don't understand the question, but if what I think you mean is what it is, maybe your broker means that you'll get stopped out of your trades once your margin gets lower than 50%

Hope you didn't get burnt??

not at all. thanks

kozmicity:
So true. Though I'm sad it took me this long to know market psychology. I've been trading since 2018(demo). I'm YouTube schooled but the most I heard about market psychology from other traders was "cut your losses short but let your winners run" "do not be greedy" " don't let your emotions rule you" "trade in the moment"...e.t.c

But none of them ever said how... Shocking isn't it?

For this business... all man for himself. fx na the practical definition of ON YOUR OWN.