Elliotwaveforec:

Impulse wave 3 about to happen. Massive buy.

You are on course bro...but, I think it may not exceed 1.9144, at most 1.9177.

teemy:


Driver! abeg stop make i enter bus.

2005 was my starting year. I recall going from exam hall to cafe with flash drive that had the old MT4 type installation folder from where I could trade on my account.

One major trade day was the JPY interest rate announcement I saw on CNN at the bank. Japan had changed the interest rates from zero to 0.5% which meant good investment in the Japanese economy. Good for the yen right? I ran to the cafe with the mind to BUY the YEN. I went massively in. The unfortunate thing was the pair USDJPY meant the Yen being strong pulled the pair downwards, a proper sell trade.

I Lost!

Again I went massively in - same wrong Buy trade - same result.

By the time I got the signals from the Marketiva forums, account had redded . GBPJPY went down 900 pips that day.

That wasn't even my greatest loss. A naira equivalent of a $30,000 account then which wasn't even my own money went the way of the graveyard of trading accounts. A debt I'm still paying back for over a decade.

Over the years, I learnt one valuable lesson - I am just too out of control on account management. I can call good trades but still lose on those trades. In almost all the years of the previous decade, I won international contests which means I must have been getting something right. However, trading on a live account without the gambling aura of a trading contest is a whole different ball game.

The markets gives us wins and losses. If we blow out our accounts during those loss moments, there will be no money left to trade during those good times which will certainly come. If not ready, do other online businesses or freelance that have little to no risk like this Print-All-You-Want buffet.

At the moment, I don't even have a trading account and won't till I complete my automated trading EA. You all know I code EAs and from the experience over my interactions with clients, i can confidently say most of the EAs on the market are not profitable. I've told some clients not to sell their works as the end result of their strategy didn't cut it but for the sake of greed still sell them. Over the hundreds of EAs I've worked on, less than 10 are winners.

It's best everyone comes up with their own trading style just like Jet Li did in the TaiChi Movie. Even if you are being spoon fed by some online guru, guru too can die or even call string of losses one day and if that's your only reliance, you'll be left hanging in the cold.

Never collect money from people to trade for them. Imagine the aura you feel when going to the bank with your Oga's money to deposit. The though of loss could swing in that to reality for you. There are lots of Prop Firms nowadays. Just be profitable and money will be there for you to trade wotowoto.

No Rush. Grow your strategy.
In all, forex daiski! (I love forex!)

Wishing you well - Teemy

2005 kai! kai!! kai!!! E don tey this bros.

Lovely story that we can now look back and laugh over.

This business will make you strong!!! See what this man has been through?

I started this discussion so that some of the younger (experience-wise) traders will know their place.

My brother, just keep going, insofar as you do not give up, the market will reward you.

Maybe we should work on a little EA together (you and I).

Shoot me a DM.

Thanks again for sharing.

meshpips:
USDJPY

Buy limit at 131.03

Stop loss 130.70

Target: open

I was stopped out at break even.

ayesco202:


SL hit.

Never allow a winner become a losing trade.

Instead of the full cow to escape, kuku cut him tail.

That's the pidgin English translation of the bolded.

meshpips:


2005 kai! kai!! kai!!! E don tey this bros.

Lovely story that we can now look back and laugh over.

This business will make you strong!!! See what this man has been through?

I started this discussion so that some of the younger (experience-wise) traders will know their place.

My brother, just keep going, insofar as you do not give up, the market will reward you.

Maybe we should work on a little EA together (you and I).

Shoot me a DM.

Thanks again for sharing.

EAs are nice, but they need alot of back testing before you wake up see empty account.

Warm up.

samfelly:


Fear, Fear, Fear always lingers whenever I want to take trades that I just forget about taking it, altogether . Na fear dey kill for this forex thing before any other thing kill person. Even after I don read books on psychology, I still dey fear

conquer your fear of execution by using market order instead of limit order

GRIMMJOE:
Warm up.

Correct! Target 16267 at least.

You've really improved.

Elliotwaveforec:

Correct! Target 16267 at least.

Bros I don take profit run

GRIMMJOE:
Bros I don take profit run

Better as scalper wey you be.

GU Analysis:

I analyz from weekly timeframe to lowertime.
Until we break 1.18340 level, GU is still bullish.

I will be looking out for buy entries when price get to the Area of interest , no confirmation,no entry. I will update later

Elliotwaveforec:

Impulse wave 3 about to happen. Massive buy.

You Sabi your technicals well.

pipfisher:


You Sabi your technicals well.

Fast 60 pips.

I may expect a USD selloff from tomorrow.

No buying pressure this week,yet

I said here that my 2023 Forex target is to have 500k USD personal account by the end of the year.

I am already successful with my personal account, however, my trading strategy can't work with prop firm.

I am demoing in prop trading. I have passed one FTMO, About completing a second prop demo with Alphacapitalgroup, currently on a third demo with FTMO. If I successfully pass 5 consecutive prop demo I will buy a 10k account to test the waters. If I make my first withdrawal, I will go for 200k account.

So How do I plan to raise the 500k USD trading capital,

1. I will fund an account with 1k USD that I will start from March and build it to 200k by end of October.

2. Get different prop account to the tune of 2million dollars and use it to raise the remaining 300k.

pipfisher:
I said here that my 2023 Forex target is to have 500k USD personal account by the end of the year.

I am already successful with my personal account, however, my trading strategy can't work with prop firm.

I am demoing in prop trading. I have passed one FTMO, About completing a second prop demo with Alphacapitalgroup, currently on a third demo with FTMO. If I successfully pass 5 consecutive prop demo I will buy a 10k account to test the waters. If I make my first withdrawal, I will go for 200k account.

So How do I plan to raise the 500k USD trading capital,

1. I will fund an account with 1k USD that I will start from March and build it to 200k by end of October.

2. Get different prop account to the tune of 2million dollars and use it to raise the remaining 300k.

Can you withdraw a prop firm funded account.

GRIMMJOE:
Can you withdraw a prop firm funded account.

Not the capital.... You can only withdraw the profits.

pipfisher:


Not the capital.... You can only withdraw the profits.

So what happens if losing trade begin to eat from the capital.

GRIMMJOE:
So what happens if losing trade begin to eat from the capital.

That's why I am doing a demo first before trying live. Mind you I am already making money from trading. I only fine tuned my strategy to match with prop trading. My intention is to raise 200k USD from an account I will fund separately for this purpose, then use prop to raise 300k

Has Blufx gone bankrupt? Site down for a week now. Traders have been complaining about this and no response from them.

Has the instant funding plan without challenge wrecked the firm?

Theyoungmaster:
My first trade of the year. Entered on the OB on H1.
I have a bearish bias on EU. Price is heavily overbought on H4 with triple tops showing a failed bullish sentiment.

If price breaks the support(drawn from daily tf) at 1.077, we just might see a dip to the 1.6900 zone which has 50% fib retracement level marked off from the most recent low to the recent high on the daily. A prominent daily OB is present at this level as well.

Ps. I'm very rusty. Ive not actively traded in over 2 months. Might be wrong. We watch and move as the market shows it's dance steps.

Price has finally dropped down to the demand zone(daily OB) as predicted. From tomorrow, I'll be looking closely at the reaction at that zone. Its evident that price quickly pulled away from that zone. As long as no daily candle closes below that zone, I'll be looking for buy trades only.

Elliotwaveforec:
Has Blufx gone bankrupt? Site down for a week now. Traders have been complaining about this and no response from them.

Has the instant funding plan without challenge wrecked the firm?

Geovanni412:



The bolded is key.

If your hand no too strong with stop loss and you want fx to be an additional source of income, you can scalp the market.

If ya capital dey like 200k naira, you fit scalp the market..

For example: You fit enter eurusd trade with 20k naira as risk and s/l at 200 pips from entry, and tp as 20-30 pips. You go dey collect urgent 2k if your analysis dey aight. If market go down 100 pips and u sure say na trend market, u can close with loss. If you have a good strike rate, u go dey aiit.

It is risky and not financial advice in any way.

But, to me, it is better than continuosly bleeding by paper cuts when your direction is correct but stop loss is what is holding you back.

how about scalping XAU with this concept?

rainlover:
how about scalping XAU with this concept?

You would have to use 2ATR daily stop loss for XAU to try this

The concept is something you can use till you get a better idea of where you can place stop loss

Think of it as a learning process... As you get better, you can reduce your stop loss and start targeting 1:1 or 1:0.5 at least if you are a day trader.

Swing traders will have much better risk: reward ratio of 1:3or more

Oil price climb to 78.63, it is near middle band line,
It is possible to looking new high.

Trading is hard and simple at the same time, just finally closed positions I have been holding for 12 hours straight.

The key to trading success is emotional discipline, if intelligence were the key, there would be a lot more people making money in the business

If your plan is to open a live account of 500 dollars, trading on a 10,000 dollar demo account isnt realistic and it won't teach you good discipline/money management.
USDJPY LONG: An agressive trader will buy at Market price, sl 130 400. Tp1 132025

Less agressive trader can buylimit at 130800. Good luck NFA!

Did anyone see that sharp stoploss hunt

GRIMMJOE:
Trading is hard and simple at the same time, just finally closed positions I have been holding for 12 hours straight.

... You sound like 12hours is eternity!

Completed the number of trading days for the Alphacapitalgroup Prop firm demo. So I would say I have successfully passed a second demo. 3 more demo to go. Currently on the third one with FTMO. All placed four trades at 1% risk each.

GBPNZD

Buy at 1.903X

Price has already picked my orders.

Target (first) 1.9111

Target (second) open

ICT. 2022 MENTORSHIP NOTES

# EPISODE 16: Multiple setups per session & using higher timeframe analysis @KelvinFX_

- You want to note the **midnight opening price at 00:00 NY time.**
- If you are **bearish** ideally you want to see the market trade **above that opening price**, this is going to be **manipulation**. The manipulation is the running above a key level when we are bearish. The name of the swing that goes above the opening price called a “judas swing”. This is also vice versa when you are bullish.
- The majority of your analysis should be framed on your **daily chart**. Where is the price likely to go? where is the expansion likely to take price higher or lower. Thats the main thing you are trying to look for, because thats going to **determine your BIAS**. It becomes so easy what you are looking for.
- The **higher timeframe** is providing you the **frameworks**. As in the chart example of the video, the 15M FVG gets filled, but the 5M FVG didnt got filled. The 15 minute timeframe is providing you the framework, it is giving you the context. We dont need it to trade up into the 5M FVG. It could but we dont need it to
- The algorithm seeks discount to premium and premium to discount. Within that logic the market is reaching for liquidity in the form of BSL and SSL or imbalance or the creation of an imbalance, FVGs or returning back to a FVG. Thats what all of these algorithms do and they do it on the basis of time then price.
- When we trade above a old high, that old high becomes a discount array. This is where old highs being broken become support, thats why sometimes the books have it right and your analysis will be right about specific key highs and lows. Notice they are not always consistent and thats the problem, so you want to know what makes a old high or an old low real support/resistance.
- Old high broken will act as support if there is a FVG open to be filled-

- If you have 2 FVGs, aim for the closest one and put your SL above/ below that first FVG.


Checlist for this trade:

1. **Displacement that took the swing low**
2. **FVG**
3. **FVG above the midnight opening price**

One of my favourite pairs. SEK is the gold of currencies.