₦airaland Forum

ICTcadet:
I just went through your trading history now, are you a scalper or day trader ?

XAUTrader4L2:
I will have to agree with this, if you can backtest longer is better. My sell entry has passed so no more entries for me.

There is nothing wrong in flipping your account with a single trade if you have an edge.

rossoneri:
Let me just put this here for anyone it helps to learn the right way. I have time this morning..

To the trader with $7: Keep your funds, save a lot more while learning and backtesting patiently until you are ready to trade based on your own understanding, edge and decisions. You can't be a trader if you need to follow someone else (Whose risk mgt will you use his?, whose psychology will the decisions be based on? Do you know his time horizon?) that is not sustainable and not the way it works. If you feel you have to jump in right now and follow, you have the wrong mindset and you can change that mindset by gaining more knowledge; there is no rush, trading is a long term game. You can change your life in 6 months but you need 5-7 years (the time it takes to develop a trained eye on the charts) to prepare for those 6 months! Please go back to demo and keep learning. While youre at it, read a few books (popular one is Trading in the Zone for the right mindset).

To the trader that suggests demo trade for 2 months: 2 months is not nothing when trying find an edge; thats not enough time to gather a sample size of at least 1000 trades executing the exact same setup on a single pair within the same session. If your sample size is not large enough, how can you have confidence in the edge? How can you even draw an edge out in 2 months? A large sample size allows probability to work in your favor and without probability you are not a real trader, you are simply passing time or do not yet have enough knowledge.

To the trader who agrees with flipping in one trade: You have the wrong mindset for this career (that is if you hope to make it a career). If you can flip an account in one trade, then you can also lose it in one trade! That is not trading, that is gambling! You are better of in the casino with that mindset. A trader must take a position size that has 0% chance of bankruptcy even in a long losing streak. The word "flip" doesn't even belong in a trader's vocabulary. Please don't use the word flip and edge in the same sentence and/or discussion again. This is a skilled profession, try to measure up to the standard. A trader with an edge has no interest in time as he already knows as result of testing his edge over a large sample size that there will be portfolio growth; time is irrelevant, wins are irrelevant just as losses are also irrelevant. They are all part of a tested and trust system. To understand this and have the right mindset you must understand probabilities. There are books and articles that can help with this. I would suggest the articles of Yumi San on twitter (free to read): profile is samuraipips358 or just Yumi

Now before anyone decides to reply to this, know that i am neither new to Nairaland nor new to trading (you should be able to tell with the above); please reply with your head and not your fingers if you feel the need to!

infofirst:
Trading Forex isn't the issue - we are! It's easy to blame the market, but the truth is, our own mindset and behaviors are the real challenges. Forex trading is a skill that can be learned and mastered, but our emotions, biases, and impulsive decisions often get in the way. Let's stop blaming the game and take responsibility for our own actions. We need to recognize when we're gambling with our emotions instead of making informed trading decisions.

infofirst:
Trading Forex isn't the issue - we are! It's easy to blame the market, but the truth is, our own mindset and behaviors are the real challenges. Forex trading is a skill that can be learned and mastered, but our emotions, biases, and impulsive decisions often get in the way. Let's stop blaming the game and take responsibility for our own actions. We need to recognize when we're gambling with our emotions instead of making informed trading decisions.

dmahn:
Now prop firm are now the issue boss. I didn't give trading any serious attention until I learnt about prop firm on this forum. The model looks appealing at first when everything was going smoothly and the prop making us feel like we are trading real money. Everything becomes uninteresting after Mff, TFT, and Co started to collapse.. The most recent happening with boss GabsonFX2 and InfinityForexFunds is really heartbreaking. I imagined if a slow trader like me has spent 6 months to pass phase one and another 6 month for phase 2 only for me to be denied payment when it's time for withdrawal...

Now I feel like rushing my challenge and either pass in time or fail in time so as to know wether payout will be denied or the prop will even shut down after wasting one's time and effort...

Now to wrap everything, you even said the real brokers too are not sending our orders to the direct market and they are always trading against us, So if one should fund a personal account with good funds too we are not save... Why is this business legal and at the same time very dirty

dmahn:
Now prop firm are now the issue boss. I didn't give trading any serious attention until I learnt about prop firm on this forum. The model looks appealing at first when everything was going smoothly and the prop making us feel like we are trading real money. Everything becomes uninteresting after Mff, TFT, and Co started to collapse.. The most recent happening with boss GabsonFX2 and InfinityForexFunds is really heartbreaking. I imagined if a slow trader like me has spent 6 months to pass phase one and another 6 month for phase 2 only for me to be denied payment when it's time for withdrawal...

Now I feel like rushing my challenge and either pass in time or fail in time so as to know wether payout will be denied or the prop will even shut down after wasting one's time and effort...

Now to wrap everything, you even said the real brokers too are not sending our orders to the direct market and they are always trading against us, So if one should fund a personal account with good funds too we are not save... Why is this business legal and at the same time very dirty

dmahn:
Now prop firm are now the issue boss. I didn't give trading any serious attention until I learnt about prop firm on this forum. The model looks appealing at first when everything was going smoothly and the prop making us feel like we are trading real money. Everything becomes uninteresting after Mff, TFT, and Co started to collapse.. The most recent happening with boss GabsonFX2 and InfinityForexFunds is really heartbreaking. I imagined if a slow trader like me has spent 6 months to pass phase one and another 6 month for phase 2 only for me to be denied payment when it's time for withdrawal...

Now I feel like rushing my challenge and either pass in time or fail in time so as to know wether payout will be denied or the prop will even shut down after wasting one's time and effort...

Now to wrap everything, you even said the real brokers too are not sending our orders to the direct market and they are always trading against us, So if one should fund a personal account with good funds too we are not save... Why is this business legal and at the same time very dirty

GabsonFX2:
🤔

I'm honoured, brother, this touched my heart.

You are not even there yet!

You are just starting, this is just the beginning of greater success to come.

You are the testimony! 😘

infofirst:
You're not alone in this journey. As @skanas and @captainjune wisely advised, it's crucial to partner with reputable firms and stay clear of those that seem too good to be true. Life is inherently risky, full of challenges and battles from the moment we're conceived to our final breath. Our very existence is a testament to the resilience of our ancestors, who overcame countless obstacles. To navigate this unpredictable landscape, our best strategy is to manage risk effectively. Nothing is guaranteed. Not even your money in the bank. Not your house with C of O. Remember, it's a continuous process that requires vigilance and adaptability.

infofirst:
You're not alone in this journey. As @skanas and @captainjune wisely advised, it's crucial to partner with reputable firms and stay clear of those that seem too good to be true. Life is inherently risky, full of challenges and battles from the moment we're conceived to our final breath. Our very existence is a testament to the resilience of our ancestors, who overcame countless obstacles. To navigate this unpredictable landscape, our best strategy is to manage risk effectively. Nothing is guaranteed. Not even your money in the bank. Not your house with C of O. Remember, it's a continuous process that requires vigilance and adaptability.

Cashhy11:
Bad as prop firm is, they are still the best thing that has happened to this industry. Let's be honest with ourselves. Their rules has been a little lenient of late and slightly favorable for a conservative trader.

Imagine being given 15k(1,500) funds to trade for just a little above $100. Secondly, they refund you your money after completing both phases and even pay some % of the profits made during the two phases.

The offer is too good and way better than funding $100 live account and hoping to grow it instead. When will that person even get a $1k bucks? The major issue is most people don't know how to trade and that's what they are capitalizing on.

The best we can do is patience to hone the skills properly before going the prop way. The rules makes one even become better and not hinder someone that wants to take minimal risk possible.

LincolnOnyeabor:
I'm a day trader sir.

Just dabbled into Scalping gold to see if that's where my strength lies.

But I'm better at Day trading.

GabsonFX2:
Just as our business men/women would bless their markets when they arrive on a beautiful Monday morning, so I am.

Many still don't get it yet, until you start to see this business as means of livelihood, you won't understand the extent to which you should be more intentional about it.

As a new week started today, and market opens, I want to be able to post here, come Friday 7th, "withdrawal requested and processed". So help me God.

GabsonFX2:
Just as our business men/women would bless their markets when they arrive on a beautiful Monday morning, so I am.

Many still don't get it yet, until you start to see this business as means of livelihood, you won't understand the extent to which you should be more intentional about it.

As a new week started today, and market opens, I want to be able to post here, come Friday 7th, "withdrawal requested and processed". So help me God.

ICTcadet:
Good, a quick reminder that day trading is not everyday trading.
On no condition should you take more than two trades in a day.

G30fx:
I guess your personal opinion and not recommendations

ICTcadet:
It's a general rule of thumb.

ICTcadet:
On no condition should you take more than two trades in a day.

ICTcadet:
It's a general rule of thumb.

ICTcadet:
It's a general rule of thumb.

obajoey:
Played out

infofirst:
Any citation for this. I want to check. I get time.