₦airaland Forum

Lanshile:
You did not take part in the challenge but you were quick enough to point out the loss someone else made that was why samfelly locked all outsiders out
People will succeed in this group I swear
It pains me so much you cant see what is going on in the challenge you would have seen what I'm seeing

I am sure people will succeed because of the lotsize. I was encouraging them.

Cashhy11:
Thanks brother, if one is not self critical of oneself, Mr. market is there to knock the lesson the hard way into one's head, this is one thing I plan to avoid. I want to learn from failures of other traders and maybe a little from mine[ if possible, none from mine].

💯

zedegit:
I am sure people will succeed because of the lotsize. I was encouraging them.

You should have take part in the challenge

Cashhy11:
Weekly Assessment
I think competitions model are more favourable to indices traders than currency pairs because of their volatility. Because I wanted to make more from my little currency pairs made me bought EurJpy on Tuesday because I believed[what effrontery] it would reverse back to where I initially sold it from on Monday. I was already enjoying the ride on 40pips profit before JPY did the werey it did on Tuesday by doing a crazy reversal and smashed my SL.

My mistake was jumping on a trade that I shouldn't be at that point in time. And one thing I was sure of that caused it was the competition, because if not for competition, I wouldn't have joined the trade and would instead wait for it to reach there before selling again, and if it doesn't, i carry my kaya go find another market.

I wanted a live account so bad next month that it was changing me without me even realizing it. So I hopped on two competitions fundedNext and TFT to make 40% at least so I could be among top100 to stand a chance of winning an account.

Solution: I logged out of both FundedNext and TFT from my phone and decided to just face our FTA competition squarely since the patterns[like having maximum of two trades opened at any given time] and minimal lot sizes are the same way I intend trading too. The good part is there is even a guaranteed prop firm account if everyone can attain just 10% in 3months courtesy of our own Boss Info.
So I thought to myself, will you run and risk falling or you will just crawl slowly and get to your destination nonetheless. I picked the latter.

Second solution: I worked on moving my SL to break even once market moves about 30 to 40pips my way. EurJpy thought me this. If I won't be winning by market reversing, I also won't be losing either. Protect your money first, and collect whatever market offers is the motto now.

This week made me a better trader, the two weeks ago ME wouldn't have had it better with this week's type of market movement.
I think the lot size did a good job at that, as it made me increase my SL to handle more swings than my usual 20pips, because some markets moved about 30pips+ against me before eventually going my way a little.

By adding these new elements to my trading, I've altered some few things that made me more profitable, like breaking even when market does heavy retracement back to me and against me before eventually going my way.
But the good part is, chances of losing on an initial winning trade is now slimmer, which can also means profitability on its own too.

The last mistake is the funniest, left trade opened over the weekend because I was at a lounge drinking my life way, and didn't know when 10pm passed. What made me forgot was because I already moved SL to BE since 4pm, so I was sure of not losing even if it goes sideways but I forgot yesterday was Friday and not a midweek anymore. I only keep trades overnight and not on weekends.
I hope the there won't be enough gaps to kick my drunken a.ss off on Sunday night.
Solution: Don't drink and trade or close your trades before drinking is the new rule now.

We are moving slowly, but we are moving nonetheless. At those people at the top, I sight you guys, much respect I got for you people, it's not easy hitting 5%+ in a week with this week's shege my eyes saw.
Have a lovely weekend traders.

Are you sure you're really a newbie? Cos the way you're detailed about your trades and also your analysis are top notch.

I see you doing this things, and I'm like this is motivating. And for the bolded it's just slow and steady.

Zowee10:
Are you sure you're really a newbie? Cos the way you're detailed about your trades and also your analysis are top notch.

I see you doing this things, and I'm like this is motivating. And for the bolded it's just slow and steady.

Slow and steady ni o. What made me even more determined to follow the slow and steady route was when I heard about prop firms models. They are dishing out as high as $100k funded account for about $600 or thereabouts. When even if you make just 1% a month, you'll be getting about $800 in profit compared to having personal account of $1,000 where you will have to make 80% a month to get the same amount.

It's even emotionally and psychologically easier to manage prop firm funds than personal ones, and this is an advantage because it makes you execute your trades without too much pressure compared to trading personal accounts for a newbie.

But it's not rosy as you think.how long have you been in trading,i'm in my 8th month though.

Cashhy11:
Slow and steady ni o. What made me even more determined to follow the slow and steady route was when I heard about prop firms models. They are dishing out as high as $100k funded account for about $600 or thereabouts. When even if you make just 1% a month, you'll be getting about $800 in profit compared to having personal account of $1,000 where you will have to make 80% a month to get the same amount.

It's even emotionally and psychologically easier to manage prop firm funds than personal ones, and this is an advantage because it makes you execute your trades without too much pressure compared to trading personal accounts for a newbie.

nzechu:
Today's lessons at witchcraftfx university

1. Less is more (greed kills)
2. Timing is important
3. Trade sometimes seeks to chahooze u out of a good analysis, staying(keyword: patience) to see what the shenigans ends up in, is important

🤜🤛👏👍💯💎

Nzechu, drop something for next week make we torchlight am. ABI the witches aren't seeing nothing?

richgen:
Impatience in entering trade even after my set up is form.

This makes me buy mostly at expensive price instead to wait for the price to retrace into more discount before the buy continues to go up and vice versa for when selling too.

My solution now is to measure out the dealing range from the swing low to the recent high and wait for the retracement into 50% and below before placing my buy trade for example in my entering TF.

And if the retracement doesn't happen and price leaves me then I leave the price as well. Shikena.

hahahahaha
When price leaves you, you too go leave price
I like this
Tit for tit tat for tat 💯 💎
Hahahahaha 🥁

GabsonFX2:
First - check the bolded.

2. Check your gold chart

3. How far?

👑🤜🤛👏👏

Ibrahimlagosian:
But it's not rosy as you think.how long have you been in trading,i'm in my 8th month though.

Anything that would make you money will never be rosy my brother. It's difficult and it must be or else everyone would it. At the bolded, about 4months ago, started demoing less than 2months ago.

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.

💎💎

Swing idea!

I can't see anything else.

Lanshile:
Is like you are not a newbie as you claimed
Keep it up brother you will succeed
I like the way you always push yourself
You dey motivate me

I'm beginning to like the guy honestly.. he sounds well informed even as a newbie

charly20:
Swing idea!

I can't see anything else.

On EU, I agree it's going north; to long it, a retracement towards 10482 is needed with SL @ 10480.

realone12:
I'm beginning to like the guy honestly.. he sounds well informed even as a newbie

💯
He is really focus and determined maybe he is sheyvchen in disguise acting like a newbie

LincolnOnyeabor:
I didn't shift the Stoploss the way you're thinking sir.

I moved it into Profits to secure some. And the markets reversed and even passed my entry before retracing back to hit full TP.

Which means that had I not secured some Profits, I would have lost totally!

You meant trailing stop I guess.
It's ok then

Elliotwaveforec:
On EU, I agree it's going north; to long it, a retracement towards 10482 is needed with SL @ 10480.

All that remains now is to mark time. I reckon the markets to print two bearish candles between Monday to Wednesday to provide a "higher low" but my stop will be around .04300 and entry around .05000

realone12:
how? I don't understand. you mean funded account can't be lost?

⬇️

Elliotwaveforec:
Nzechu, drop something for next week make we torchlight am. ABI the witches aren't seeing nothing?

.
No new analysis. But the below is still valid.

nzechu:
Nice outlook.

But this is what I am looking at on eurcad, a correlated pair

Witchcraftfx analysis
Buy limit at the line indicated as test
Tp at 423% line
SL at low of today's candle

U can also buy gold and. Throw away your fone for thee next two weeks

rhynoemmie:
Hope you joined the sell.
Market made a clean 100pips from that zone.

Market got me out at be.

market na werey, I just wasn't sure of the sell signal. Sometimes u don't HV to trade just observe

charly20:
Swing idea!

I can't see anything else.

are u a Witch sir, cos this is a witchcraft trade entry for eurusd, just that eurusd Is slow


The witch would anticipate a 50% response to buy tilll 423,and I checked the weekly, concept shows they would blow past the 423 mark. But eurusd is slow

This call is for educational purposes. forex is risky

@gasive, please why were you Disqualified. I would like to know. No offense bro. I just want to know.

nzechu:
are u a Witch sir, cos this is a witchcraft trade entry for eurusd, just that eurusd Is slow


The witch would anticipate a 50% response to buy tilll 423,and I checked the weekly, concept shows they would blow past the 423 mark. But eurusd is slow

This call is for educational purposes. forex is risky

You're right bro.
EU is very slow. Tho it's definitely heading for that 1.08 but it might get there next week.

Some one could try shorting from here tho. Just wait for the liquidity grab or place limit order at 1.06 but one thing is almost certain, there's room for buy come monday London session.

On deeper search for truth, what kept ringing in my mind is "setup".

With the current security challenges in the country, police brutality, EFCC can pick boys with laptops and label them Yahoo boys, you go explain tire. Is it talking of robbers, bandits or road accident.

Let's pray that nobody sets Boss infofist up. He's a good man.

During the week I made some losses due to impatience and indiscipline. Henceforth, I am sticking to my trading rules which I've written down in a book and must be carried all around before placing a trade. These rules, I must master until it is written boldly in my heart. However, in the future, it might still be tweaked as I gain more knowledge and experience. But for now, this is what I will stick with.

Rules Before Every Trade Entry

1. Check higher time frames (1hr, 4hr, 1D) for trend direction

2. Every entry MUST follow the trend

3. Max of two open trades

4. Make a trade mapping for the day

5. No big Stop Loss( Max. 30-40 pips)

6. Sell from the high, Buy from the low

7. Every stop loss for a buy must be placed under a support zone and vice versa

8. Always check the news (Chai, this thing show me shege)

9. Always check for possible reversal.

So help me God

Cashhy11:
Weekly Assessment
I think competitions model are more favourable to indices traders than currency pairs because of their volatility. Because I wanted to make more from my little currency pairs made me bought EurJpy on Tuesday because I believed[what effrontery] it would reverse back to where I initially sold it from on Monday. I was already enjoying the ride on 40pips profit before JPY did the werey it did on Tuesday by doing a crazy reversal and smashed my SL.

My mistake was jumping on a trade that I shouldn't be at that point in time. And one thing I was sure of that caused it was the competition, because if not for competition, I wouldn't have joined the trade and would instead wait for it to reach there before selling again, and if it doesn't, i carry my kaya go find another market.

I wanted a live account so bad next month that it was changing me without me even realizing it. So I hopped on two competitions fundedNext and TFT to make 40% at least so I could be among top100 to stand a chance of winning an account.

Solution: I logged out of both FundedNext and TFT from my phone and decided to just face our FTA competition squarely since the patterns[like having maximum of two trades opened at any given time] and minimal lot sizes are the same way I intend trading too. The good part is there is even a guaranteed prop firm account if everyone can attain just 10% in 3months courtesy of our own Boss Info.
So I thought to myself, will you run and risk falling or you will just crawl slowly and get to your destination nonetheless. I picked the latter.

Second solution: I worked on moving my SL to break even once market moves about 30 to 40pips my way. EurJpy thought me this. If I won't be winning by market reversing, I also won't be losing either. Protect your money first, and collect whatever market offers is the motto now.

This week made me a better trader, the two weeks ago ME wouldn't have had it better with this week's type of market movement.
I think the lot size did a good job at that, as it made me increase my SL to handle more swings than my usual 20pips, because some markets moved about 30pips+ against me before eventually going my way a little.

By adding these new elements to my trading, I've altered some few things that made me more profitable, like breaking even when market does heavy retracement back to me and against me before eventually going my way.
But the good part is, chances of losing on an initial winning trade is now slimmer, which can also means profitability on its own too.

The last mistake is the funniest, left trade opened over the weekend because I was at a lounge drinking my life way, and didn't know when 10pm passed. What made me forgot was because I already moved SL to BE since 4pm, so I was sure of not losing even if it goes sideways but I forgot yesterday was Friday and not a midweek anymore. I only keep trades overnight and not on weekends.
I hope the there won't be enough gaps to kick my drunken a.ss off on Sunday night.
Solution: Don't drink and trade or close your trades before drinking is the new rule now.

We are moving slowly, but we are moving nonetheless. At those people at the top, I sight you guys, much respect I got for you people, it's not easy hitting 5%+ in a week with this week's shege my eyes saw.
Have a lovely weekend traders.

Discipline... I love it.

nzechu:
are u a Witch sir, cos this is a witchcraft trade entry for eurusd, just that eurusd Is slow


The witch would anticipate a 50% response to buy tilll 423,and I checked the weekly, concept shows they would blow past the 423 mark. But eurusd is slow

This call is for educational purposes. forex is risky

abracadabra 🧹

Riverrun:
@gasive, please why were you Disqualified. I would like to know. No offense bro. I just want to know.

I believe it's DD.

realone12:
I'm beginning to like the guy honestly.. he sounds well informed even as a newbie

He found the right knowledge. Knowledge is power. Besides, it's easier to wean a kid of bad habits than an adult. I'm still doing that till today.

Focus for the week.

nzechu:
.
No new analysis. But the below is still valid.


U can also buy gold and. Throw away your fone for thee next two weeks

Really? That's not it walai. One Boss been say trade for the moment, for nobody knows what tomorrow brings.