PIPSMARSHALL:
The END
Phase 2. Max drawdown. Almost passed, Not happy but i'm back to the trenches. I wish but it is what it is.
I blame myself because I didn't follow my rules squarly, I also blame eight cap broker for their nonsense candles. It's no excuse but when a trade gets stopped and moves in ur direction in more than 10 trades, its the broker and not the trader. Who blames d broker more than the losing trader? Profitable traders who know that the brokers are after their earned dollars. Or na me no dey set stoploss right. Anyhow sha. Maybe I lack patience

I no sabi wetin dey rush me sha, I'm cool now tho.
I'm a RICH trader and not a broke trader anymore.
I have the skill, but it takes time to conquer greediness. Na my greed crash this challenge amd previous challenge.
I have conquered greed, just that I didn't obey my lotsize rules and positions on this one.

I lacked patience, maybe because I got frustrated by the broker but I suppose maintain my cool since I know the brokers are after my money. Soon, man will get these pay checks steadily.

Unto the next
As you were.

Jameselias:
A trading edge makes you a good trader.

Risk management makes you a great trader.

The ability to control fear and greed makes you a legendary trader.


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realone12:
finally lost my 25k account this morning too.. it was a very rough ride.but I'm glad because alot of lesson has been learnt...we move

infofirst:


If there is any thing I am scared of about trading or about traders myself inclusive. It is that thing that pushed us to become impatient, to lose that discipline and lose days gain in one day

GabsonFX2:
Like Kaybee7000 rightly mentioned. In this era of no time limit, all that is needed now is to
1. revamp your strategy first - don't be pushed to trade all opportunities that show up. Filter them. 5 or 6 bad trades can wipe an account, the very next trade could have been the great one but by then, you would have missed out.

2. i. Reset your lot size calculation, to the one that will give peace.
ii. Take an excel sheet, determine your loss % for each trade, and determine how much bad trade will lost your account. If you lost 5 trades that are bad, how many pips in a trade would you require to break even......as for me, if this happens to me, that equaivalent number of pips I need in a trade to recover the 5 trades to break even will still give me 5% profit, though break-even but with the profit I desire as if it were the first trade with no bad ones..........risk/money management.

infofirst:


No vex boss mi. Maybe losses don make us stressed out on those days. You have got valid Points but for someone like me ehn.. I am tired of reading strategy books or video. Na only risk management and psychology books I prefer to read. I will try and check the video since it's risk video
My chart is my strategy. I have since been working on having my own unique trading method. Nothing complicated again. Just my chart and my chart. All methods are very similar or same.

friendbee:
" Just my chart and my chart. All methods are very similar or same." Infofirst Boss mi. so true, with all the systems. I just failing prop account like nobody. I am doing the above now, focusing on risk which is the father of psychology. I want peace of mind . O to ge

karkinase:

Truth is you’ve no problem .. you just don’t have an edge yet.. searching for an edge is what makes this forex difficult

realone12:
finally lost my 25k account this morning too.. it was a very rough ride.but I'm glad because alot of lesson has been learnt...we move

Kaybee7000:




Chai all the oga wey I wan emulate dey break their rules,this nature of trading no be here o,VERY DIFFICULT WAY TO MAKE COOL CASH indeed

Jameselias:
A trading edge makes you a good trader.

Risk management makes you a great trader.

The ability to control fear and greed makes you a legendary trader.


Copied

rhynoemmie:


In my opinion, this forex no suppose hard ooo

Na we just dy do ourselves

We wan quick blow gon

karkinase:
Sentiment for USD seems to flip bearish entering US session

infofirst:

Donsheddy:

Lets see how it goes but I'm expecting a bullish close on usd today...

EASYLIFE4US:

Na lie you talk there, I don enter market e drop for me na only 5 pips remain make e hit my profit target, e reverse go back to my entry dey find whether I break even, e don happen plenty plenty times

EASYLIFE4US:

Gbam, you go enter market finish, e go move some correct pips, your mind don sweet, you off laptop sey make you rest small but after sometime you mind dey bite you, you com sey make you use your phone check where market dey, omooo market don reverse com where your stop loss dey dey play, you com rush open lappy, fear and anger don full your body, na so you go dey watch as market go hit your stoploss com dey go back again and if you sey make you shift your stoploss ehn na so the market go dey follow you dey drag with your stoploss until e hit am before e go com go back..no be quantum entanglement phenomenon be dat, the observer and the observed.

karkinase:

Don’t think so.. USD needs to rebalance for another bullish leg up again.

EASYLIFE4US:

Na lie you talk there, I don enter market e drop for me na only 5 pips remain make e hit my profit target, e reverse go back to my entry dey find whether I break even, e don happen plenty plenty times

infofirst:
@realone12 @Pipsmarshal.

I loved the fact that you both accepted responsibility for the loss of the accts.
And that you do not lose to DD is indeed an improvement.
Kindly try and come back with a long term plan. No rush to pass acct in one day. No time limit accounts are supposed to be a blessing.
Every challenge account is now supposed to be treated as a funded acct that you only need to make 13% or 15% before you can get payout.

@kaybee @pristinee @mystiquefia
Treat your competition accts with all your heart.
The market is brutal. It does not care.

2% on a $10k monthly is roughly #180k in our nigeria of today.
Imagine 2% on a $100k.
Etc.
I know it is not easy but it will be harder if we keep breaking the rules.

Limit your currency pairs.
The stress of trading one pair alone is not easy much more many.
If you want to trade more, trade related pairs like usd pairs. Jpy pairs. Euro pairs. Etc. Less is a strength in this market.