Who has already passed 5er first phase abi everyone don blow it up ni? Was up 33 percent until it went down to about 13 percent. Only silver buy remaining with me, I will tighten my sl during NFP, or close it if I see something unusual before that time.
My ftmo of 10k is down by 250$ (2.5% or 25percent of the max losses allowed). I have to be careful not to go further. Conservative recovery activated with compounding. Thank God no time limit again. For now , am not ready to fund any prop challenges now until I see good results further. Time plenty, no rushing.


To those who are in one challenge or the other, We can be updating our prop challenges or competition results and updates here to keep encouraging ourselves just like what oga GabsonFX2 is doing.
Keep pipping.
Now out from every gathem orders. Can't risk shit. NFP not childs play.

Red news around the corner.

Eurusd delivered nicely.. Hopefully Nfp will deliver Gold sell.. Fingers crossed

GabsonFX2:


Paid employment guarantees financial security - a constant source, a reservoir. FX would not pay every week but paid employment does, even when I'm ill - I would still get a constant biweekly pay of EI - Employment Insurance from the government; but, you have to be employed to qualify. Many more reasons why a career outside FX is top-notch.

While bills would never cease, fx biweekly profit would definitely cease at one point or the other; when this happens, what would you do in those weeks or months? frustrated? overleverage? overtrading? martingale? ignore SL? zero psychology? go into debt? depression? etc

I once quit my job (back in 2021) to depend only on fx but I could not stand it cos I'm not the only one in the family - I had to return. However, there is a career level I plan to attain to call it quit. But even at that, I would still go into paid employment but a much more flexible one where I can place my laptop on my workplace table with fx charts all over the place.

How about those of us that are not so lucky to have a paid employment, but have a striving business by the side.

So angry with my Self.

I saw the Gold Sell after seeing the Notifications of a $$$ Rally on Trading View app. Saw the Imbalance at 2038 and Sold from 2044 to 2041.

Price consolidated at 2041 for a while and I closed in some profits.

Now coming now and my Full TP got hit!

Omo I really need to build my Psychology ooo. I was scared of Price retracing back on me.

Could have secured about $1,300-1,500 in profits but settled for $500.

Na like this I go fit hit 25% this Month ni




Abeg, does TFT competition expire at the end of every Month?? Or it extends beyond the particular month??


Also, how is drawdown calculated?? Is it by each day's Balance or the initial $100k balance??

GabsonFX2:


Paid employment guarantees financial security - a constant source, a reservoir. FX would not pay every week but paid employment does, even when I'm ill - I would still get a constant biweekly pay of EI - Employment Insurance from the government; but, you have to be employed to qualify. Many more reasons why a career outside FX is top-notch.

While bills would never cease, fx biweekly profit would definitely cease at one point or the other; when this happens, what would you do in those weeks or months? frustrated? overleverage? overtrading? martingale? ignore SL? zero psychology? go into debt? depression? etc

I once quit my job (back in 2021) to depend only on fx but I could not stand it cos I'm not the only one in the family - I had to return. However, there is a career level I plan to attain to call it quit. But even at that, I would still go into paid employment but a much more flexible one where I can place my laptop on my workplace table with fx charts all over the place.

The way to go.
Best wishes on your 2024 goals.

Davigle:


Boss I think you should have had more faith in your strategy or analysis, because gold is selling as you had anticipated, the only thing that I would advise based on my little experience is never to trade gold with a tight stoploss, the result is traumatizingly traumatic

I just close my xau call in profits. no be small thing.
the up and down since yesterday no be here.
gold took all my gbpaud profits I was in serious loss, I said noo, and reentered, wud I say I did revenge trading lol, since yesterday i d hold ,d check 4 night thank God.
now unto the next

Frank571:


Congratulations Donsheddy

Just a honest observation, from last yr till now, I believe you have managed more than 5 funded accounts ( Both free and paid, including a 200k acc )
Have u ever received a payout?
If not I think u need to review ur trading journey/system
And secondly what happed to those accounts?

The more the accounts, the better. Great to target 5% monthly on $10k prop firm account but targeting 2.5% on $100k is greater.
Work to get as many accounts as possible. And target less % per month.
@donsheddy. Great job that you are able to keep all accounts intact. No time limit is a blessing truly. No rushing.

Fxbu:

How about those of us that are not so lucky to have a paid employment, but have a striving business by the side.

Kindly do with what you have. Fx is a blessing if you sabi already. Adding a paid job is extra blessing.
If you con dey tech dey do hybrid or remote work mode, na to dey give thanks to God everyday. You are set.

greatcheer:


I just close my xau call in profits. no be small thing.
the up and down since yesterday no be here.
gold took all my gbpaud profits I was in serious loss, I said noo, and reentered, wud I say I did revenge trading lol, since yesterday i d hold ,d check 4 night thank God.
now unto the next

I also did close my gold sell for a small profit when it reversed yesterday's evening, but when I re-analyse the chart from the HTF and saw that the sell was still in play, I shorted gold last night before market close and I am still holding it

infofirst:


Kindly do with what you have. Fx is a blessing if you sabi already. Adding a paid job is extra blessing.
If you con dey tech dey do hybrid or remote work mode, na to dey give thanks to God everyday. You are set.

I dey await ur next competition
Happy new year Nairaland traders

GabsonFX2:
What you need is a build-up mentality. Start with an edge.

Set about 6months goal with prop firms
Go for a broker, deposit, and make about 50% profit ish.
Withdraw your profit ONLY, and use it to obtain at least two prop firm accounts
If you pass and get funded, use your profits to buy larger capital accounts.
Forget about using the profits for personal self for another one year
Keep building up.

I've screenshotted this already self.


Putting it into my plans.

PIPSMARSHALL:


I dey await ur next competition
Happy new year Nairaland traders

Watch out.

LincolnOnyeabor:


I've screenshotted this already self.


Putting it into my plans.

What happens if you buy new prop firm accts and you get banned like Limitless Nouman?

The local man in me thinks it is wise to collect any money you see from prop firms and if there is a balance (30% of profit you got) then
you can use it to buy more accts.




https://www.youtube.com/watch?v=DyvDziH9U-w?si=w30J8UDrlPfZmTV5

The first entry was a loss.. So I reentered b4 market closes yesterday.. 2030 was the initial target but I had to manually close at this resistant. Price formed a double bottom on m15 at the resistant was the reason I jumped out... Plus today is Friday + Nfp ..

I'm leaving only UsOil sell at the moment. Hoping to see if SL or TP will hit b4 the end of the day

my analysis for nfp.
your contribtions/views are welcome

cadjpy_ sell
Audcad_ buy
gbpaud_ sell

cc @davigle

Waddup pipu it's ur boy fta newbies/noobs ambassador aka #theindisciplinetrader, it's just 40 mins away from NFP #redalert, and judging from the concensus, the markets are expecting a higher NFP which confirms the strength of the US labour market, and that would strongly support the dollar rally that we are seeing across all assets paired with the dollar. A lower NFP would definitely disappoint market expectations and that may result to a dollar dump. Although a lower NFP may just be inline with Fed dovish stance on cutting interest rates. Cheers

PIPSMARSHALL:


I dey await ur next competition
Happy new year Nairaland traders

been a while @pips happy new year to u too

greatcheer:
my analysis for nfp.
your contribtions/views are welcome

cadjpy_ sell
Audcad_ buy
gbpaud_ sell

cc @davigle

Bossmi dis ya pairs won't be affected by NFP now, NFP effect would definitely be seen on all USD pairs and maybe yen, but not on the other crosses

dmahn:
The first entry was a loss.. So I reentered b4 market closes yesterday.. 2030 was the initial target but I had to manually close at this resistant. Price formed a double bottom on m15 at the resistant was the reason I jumped out... Plus today is Friday + Nfp ..

I'm leaving only UsOil sell at the moment. Hoping to see if SL or TP will hit b4 the end of the day

Egbon, NFP no fit shake USOIL, I stand to be corrected though, if there's any pair that seems to be impervious to news, wey dey disrespect news any how na oil be that ooo, FOMC, CPI, NFP, dem no fit move oil. Check your charts and confirm it. The only fundamentals wey oil dey respect na geopolitical tension and then oil production demand and supply, other than those two, dem no reach for oil side. Bitcoin to sef dey somehow behave like oil, but im own e be like news dey affect small small.

Davigle:


Bossmi dis ya pairs won't be affected by NFP now, NFP effect would definitely be seen on all USD pairs and maybe yen, but not on the other crosses

Lolz dey play my boss, unless it is not paired with any save heaven currency,if it is,e go shake tire my boss

Davigle:


Bossmi dis ya pairs won't be affected by NFP now, NFP effect would definitely be seen on all USD pairs and maybe yen, but not on the other crosses

NFP go affect them

The only pairs I know that NFP no too dey touch na Nzdchf and Audnzd.

Anyway, I can't see any trade on the pairs I trade (Xauusd or eurusd) .

The odds are evenly balanced for long or short. Things might be clearer towards 4pm.

greatcheer:
my analysis for nfp.
your contribtions/views are welcome

cadjpy_ sell
Audcad_ buy
gbpaud_ sell

cc @davigle

After checking my charts, though I don't trade those pairs but I would go with cadjpy sell, audcad I'm neutral and gbpaud I would sit it out it looks quite choppy but I'd favor a move to the upside than to the downside because of HTF price structure.

infofirst:


Watch out.

on alert.

Davigle:


After checking my charts, though I don't trade those pairs but I would go with cadjpy sell, audcad I'm neutral and gbpaud I would sit it out it looks quite choppy but I'd favor a move to the upside than to the downside because of HTF price structure.

fingers crossed

ETA 8 mins out

Petah:
on alert.

Oya go join queue for back, you know when me ah don dey wait for update for the new sit up challenge, na since Dec 20th last year ooo, na with one eye ah dey take look samfelly sef because him and boss info neva talk. 😁

Forex trading is not random, I read about a trader that knows exactly when to enter and exit a trade. Right now I'm studying his charts to know how he does it.
Just imagine that you know when to enter and exit trades omooo that one na jackpot