BrightFuture48:

You have raised a lot of valid points, but if you look closely all these are common to whatever time frame you pick. The good things about higher time frame is that the setups are normally rock solid and often less susceptible for being "fake" or gives ample time to for you to decipher if it wrong.

It just matter of practice and discipline we can follow such but because we are use to lower time frame and easy access to our mobile mt4 pnl, we tend to interven much in our trades (emotion).

I will be considering taking my challenge/ competition account off my phone soon so that it can help me reduce such interference. There is NO short cut to this we just have to cultivate the WAITING approach but before and after setup on higher tf.

Yes with such risk management adopted in the competition now you can comfortably withstand 200 to 300 pips DD provided you're trading higher tf.

charly20:



Swing trading is good o but you see that thing where you wait for days/weeks only for a trade to turn red, e dey pain well well.

Seasoned men like our oga GabsónFX2 already get bar to weather their DD. Newbies like Charly20 go learn how to scalp so that dem no go run mad . Wetin I dey talk, even oga GabsónFX2 don talk say him dey scalp sef.

Omo, we go dey alright.
@boss Davigle, wetin do you na wetin dey do us normally.

Some of us based on experience have learnt to manage it to a non-lethal extent.

GabsonFX2:
There lies the problem - hating losing.

Make losses your best friend, laugh like me when you see minus..........(Great risk/money management skills)

You always see me when I boldly post negative here, even though I know people will lash and come on me hard, like pipsmarshall recently did - I still post them anyway cos I know for sure that the end justifies the means.

Above all: focus on risk/money management.

infofirst:
Lack of trading strategy/plan/system
Poor risk management/Greediness
Impatience
Indiscipline

Which one is stopping you from profiting in the forex market? And what are you doing to overcome it?

Impatience has been hitting me lately.
And dragging me back and forth.

I kept going through short tweets on trading psychology to overcome the impatience of late.

GabsonFX2:
First - check the bolded.
2. Check your gold chart
3. How far?

Elliotwaveforec:
Quick sell us30 sL 33475

GabsonFX2:
USOil Update (A different $100K account - strictly for swing trading)

USOil short still ongoing, around 126pips. While the market closes today, I will let it run till next week. Here is a catch: When USOil jumps, it is a blast/devastating far more than US30 and Gold that SL is never guaranteed. I have been thinking, should I risk it, leaving it till Monday and seeing, it could gap my way, but then it could gap against me? Can I buffer it, if it gaps against me? Yes but by how much - I don't know.

On Monday, at market open, I will mention the major reason why I'm leaving USOil short to run till market open.

If there is no gap at all, then I will kill the short like mad..............if there is a gap to my direction, I will close instantly at market open........If it gaps against me, I will see what to do on Monday.

infofirst:
@oluwayemipeter should be a ghost worker here. Don't think I have seen the name here
@kellybently welldone
@maroka and @trading giants... Those are exceptional trading from you both. You mind coming to give members some hints on how they can do better as well. I hope you guys keep this up for real. I hope play has tired the two of you for real. @zonal and those hiding their trading orders. Kindly open them... We need to help each other.

Whats going on fellow contestants? What's stopping you from making atleast 0.5% this week... Come and confess, maybe someone might give you the appropriate answer to your challenge.

MONEY247:




But I think I would resought to watching movies.....

BinaryRocks:

If you like watch drama.
Your mind no go comot for chart.
Forex ehn....

rhynoemmie:
First of all
I appreciate all the hardwork that's going on here. I'm not trying to shame nobody, just trying to change our perspective on something.

I want to share this idea of creating a trading floor for fta and I'd like your input. Cc
Infofirst, galleryeasy samfelly gabsonfx charly20 meshpips realone12

Let's think about this, why do hedge funds do so well? What are they doing differently? Anyone who has seen a trading related movie, eg billions. Can say clearly that one outstanding reason why they're doing so well is because one person isn't doing all the job (analysing, putting on positions and monitoring trades).

Everything is properly seperated, theres the analyst and then theres the porfolio managers and then theres those in charge of risk management. It's true that they're people who can do all this on their own as we may know but we can also say that majority faults in one of the Above. We have people who are great traders and bad analysts, those who are great analysts but horrible traders and then there's the select few.
Those who can analyse their trades, put the
appropriate position and still come out on top with their psych intact..

The picture I'm trying to paint is, imagine all this mixed up under one roof (literally). Where everyone is separated based on their strengths instead. You can argue that we're doing the same thing here on nairaland but actually we're not. After all is said and done, When it comes down to actually putting on that trade, all that's there is just you and your device(maybe phone or laptop).

It could be why there are lots of "I know say na me eff up" in the community

What do you guys think, let me know before i decide to go further with this yarn

GabsonFX2:
Just as expected

Damn!!! Chief, you're the bomb.I rode this trade alongside you.

GabsonFX2:
First - check the bolded.

2. Check your gold chart

3. How far?

You understand your game well boss.Congrats!

Cara12:
I got disqualified today but surprisingly I am not perturbed because it wasn't because of drawdown. I was on my way to recovering my initial losses when I inadvertently opened two lots position on my Darwinex account thinking I was on my tft account.

Thanks to this competition, I've seen a format to evade maximum drawdown. The next account I'ld buy would follow this Darwinex competition model- maximum of two trades. I'ld only open d second trade after I breakeven on the first. So help me God!

rhynoemmie:
First of all
I appreciate all the hardwork that's going on here. I'm not trying to shame nobody, just trying to change our perspective on something.

I want to share this idea of creating a trading floor for fta and I'd like your input. Cc
Infofirst, galleryeasy samfelly gabsonfx charly20 meshpips realone12

Let's think about this, why do hedge funds do so well? What are they doing differently? Anyone who has seen a trading related movie, eg billions. Can say clearly that one outstanding reason why they're doing so well is because one person isn't doing all the job (analysing, putting on positions and monitoring trades).

Everything is properly seperated, theres the analyst and then theres the porfolio managers and then theres those in charge of risk management. It's true that they're people who can do all this on their own as we may know but we can also say that majority faults in one of the Above. We have people who are great traders and bad analysts, those who are great analysts but horrible traders and then there's the select few.
Those who can analyse their trades, put the
appropriate position and still come out on top with their psych intact..

The picture I'm trying to paint is, imagine all this mixed up under one roof (literally). Where everyone is separated based on their strengths instead. You can argue that we're doing the same thing here on nairaland but actually we're not. After all is said and done, When it comes down to actually putting on that trade, all that's there is just you and your device(maybe phone or laptop).

It could be why there are lots of "I know say na me eff up" in the community

What do you guys think, let me know before i decide to go further with this yarn

Cara12:
I got disqualified today but surprisingly I am not perturbed because it wasn't because of drawdown. I was on my way to recovering my initial losses when I inadvertently opened two lots position on my Darwinex account thinking I was on my tft account.

Thanks to this competition, I've seen a format to evade maximum drawdown. The next account I'ld buy would follow this Darwinex competition model- maximum of two trades. I'ld only open d second trade after I breakeven on the first. So help me God!

rhynoemmie:
First of all
I appreciate all the hardwork that's going on here. I'm not trying to shame nobody, just trying to change our perspective on something.

I want to share this idea of creating a trading floor for fta and I'd like your input. Cc
Infofirst, galleryeasy samfelly gabsonfx charly20 meshpips realone12 gasive


What do you guys think, let me know before i decide to go further with this yarn

Nextt:


As a public endeavour, it is a long shot but worth attempting.

As a model that is only restricted to a few people there is ray of hope for its success.

Sometimes, ideas are easier framed than executed because many variables by nature are set against their breakthrough. There will be challenges and errors. If the participants are willing to stick to it through all its challenges it will be a successful model of relentless teamwork.

infofirst:


Thank you. I got it now. He good to dey ask questions if E no clear. E clear now

GabsonFX2:
Final Update on This $100K Account Before Withdrawal

Analytics attached (75% win rate)

Yesterday's profit = US$ 990.58 (updated)

Total profit = US$ 7,823.92

Withdrawal 14th Oct
= 7,823.92 * 0.9 + 1.5 * 513 + 1950

= US$ 9,761.03

Account deleted from platform, no more update on this account, waiting withdrawal...................Oct 14