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Nairaland Forum / Nairaland / General / Business / Forex Trading - Season 14 (318829 Views)
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Re: Forex Trading - Season 14 by natruetalk: 7:44pm On Oct 23, 2014 |
naijababe: oil stopped me out at BE already weytin man go do naw |
Re: Forex Trading - Season 14 by Sunnycliff(m): 7:46pm On Oct 23, 2014 |
What a painful trading Day! losing over 200 pips on The multiple combination of Dax, FTSE, Dow and S&P. Because of future trading, I left overnight! I have taken correction through The hard way |
Re: Forex Trading - Season 14 by Nobody: 7:58pm On Oct 23, 2014 |
Sunnycliff: Pele o, e dey happen. That fake sell from yesterday on the indices did not help, I held a Dow sell overnight which at some point was +102 pips, this morning it closed at BE, I took a buy, then another fake sell and I closed my position promptly.............only for the effing things to move hundreds of 100pips in my direction and my last oil trade also took me out at +20pips after having done +96pips |
Re: Forex Trading - Season 14 by MuhammaduJesus(m): 7:59pm On Oct 23, 2014 |
A buy pin bar just forming on USDCAD daily,there is every likelihood that the bears will dominate the market in the days ahead. Sold at 1.12359 tp 1.12056 sl 1.12445 rr 1:3 |
Re: Forex Trading - Season 14 by latestsunny(m): 8:11pm On Oct 23, 2014 |
Forex Is a very boring business especially when one is around people who know little about it this kind of business. I need a trader friend(s) who we can relate in Lagos (Iyana ipaja-Abule Egba-Agege-Sango area). If you are interested or stay close to this area pm me. 3 Likes |
Re: Forex Trading - Season 14 by Profuzi: 8:50pm On Oct 23, 2014 |
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Re: Forex Trading - Season 14 by infofirst(m): 9:22pm On Oct 23, 2014 |
naijababe:U don try...i got stopped out at BE for dax. Still waiting for dat bott to buy oil for more pips. 82.2* need clear for bull to enjoy |
Re: Forex Trading - Season 14 by Nobody: 9:28pm On Oct 23, 2014 |
USDJPY is choppy |
Re: Forex Trading - Season 14 by MuhammaduJesus(m): 9:54pm On Oct 23, 2014 |
iheanyiebeneze: Yea,very unstable |
Re: Forex Trading - Season 14 by currentprice: 10:58pm On Oct 23, 2014 |
Re: Forex Trading - Season 14 by mez(m): 12:44am On Oct 24, 2014 |
naijababe: Pele. It's happened to me so many times recently that I'm tired of complaining. |
Re: Forex Trading - Season 14 by Sunnycliff(m): 2:48am On Oct 24, 2014 |
naijababe: Thank you |
Re: Forex Trading - Season 14 by Capitals: 5:03am On Oct 24, 2014 |
Capitals: Here is what I did whilst men slept, my pick or the day Sell AUDJPY (94.57) SL 94.84, 1st TP 100pts. I also bought GBPAUD 1 Like
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Re: Forex Trading - Season 14 by Capitals: 5:16am On Oct 24, 2014 |
Capitals: Letting go of GBPAUD early, but still holding on to AUDJPY |
Re: Forex Trading - Season 14 by Capitals: 5:34am On Oct 24, 2014 |
Capitals: Traded my GBPAUD for EURAUD, the rest of the trading day ll be spent on observing these two trades. if they both loose, no new shots till next wk.
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Re: Forex Trading - Season 14 by fxbomovi: 6:41am On Oct 24, 2014 |
currentprice:it's well my brother. my stop was hit |
Re: Forex Trading - Season 14 by willscolf: 7:43am On Oct 24, 2014 |
fxbomovi:ur stops r too tight compared tp,u may nid to adjust a bit |
Re: Forex Trading - Season 14 by Nobody: 8:04am On Oct 24, 2014 |
Sold DJIA and Dax |
Re: Forex Trading - Season 14 by Nobody: 9:07am On Oct 24, 2014 |
naijababe: Flipped, 9am candle closed above pivots once again 1 Like |
Re: Forex Trading - Season 14 by Nobody: 9:20am On Oct 24, 2014 |
naijababe: Not looking good today, I'm out for the week abeg! 1 Like |
Re: Forex Trading - Season 14 by omejeo: 9:59am On Oct 24, 2014 |
NIJABABE I THINK DAX IS GOING UP TODAY |
Re: Forex Trading - Season 14 by Thinkr(m): 10:27am On Oct 24, 2014 |
*Money Management : 70% *Technical analyze to read chart : 15% *availabability of your mind : 5% *Know how to manage Winning trade and Loss : 3% *Know how to execute the order : 3% *Choose a performant broker : 3% *Finance News and Lies : 0.5% *Fundamental Analyze of market 0.5% ----------------------------------------------------------- Total : 100%. Guys I saw that on facebook so I decided to share. Am not a new member here just a new moniker. Love the family and you all have a great weekend. Bye 7 Likes |
Re: Forex Trading - Season 14 by Nobody: 11:29am On Oct 24, 2014 |
omejeo: I think it is going to be a choppy day, hence, why i left. Monday to Wednesday were really good day, thursday was not bad, I only made like 30 pips in the end and this morning I have lost around 50 from the two trades I took. I am not about to give away my Mon-Wed money on Friday See y'all next week 8 Likes |
Re: Forex Trading - Season 14 by bayleaf(m): 6:14pm On Oct 24, 2014 |
Happy traders |
Re: Forex Trading - Season 14 by yomexy2(m): 7:00pm On Oct 24, 2014 |
natruetalk:Many thanks for checking up bro.... Been very busy with offline project, u don't wanna put all your eggs in one basket u know. I ve switched to position trading pending the time I come back fully. Thanks once again, I m grateful |
Re: Forex Trading - Season 14 by docus: 7:39pm On Oct 24, 2014 |
combining PA with CP is a very powerful strategy. have a nice weeked ya all |
Re: Forex Trading - Season 14 by Nobody: 10:16pm On Oct 24, 2014 |
This is a good week indeed. Market closed in more greens than red. Thanks be to GOD. SLATE CLEANED, A FRESH ANALYSIS FOR NEXT WEEK. |
Re: Forex Trading - Season 14 by Nobody: 10:17pm On Oct 24, 2014 |
You did well this week. Just Thank your God naijababe: |
Re: Forex Trading - Season 14 by Nobody: 11:04pm On Oct 24, 2014 |
I think This can help someone. ENJOY as you read it. Why we make bad choices Here’s a question for you … You’re faced with a urn which contains 30 red balls, and an unknown number of black and yellow balls, which add up to a total of 60, meaning there are 90 total balls in the urn. You’re given the choice of two sets of gambles you can take: Gamble A: you win £100 if you draw a red ball from the urn OR Gamble B: you win £100 if you draw a black ball from the urn and Gamble C: you win £100 if you draw a red or yellow ball OR Gamble D: you win £100 if you draw a black or yellow ball Which do you take? If you’re like most people, you’ll have chosen gamble A and gamble D, because both of these options have known probabilities. With gamble A, we know we have a 33% chance of pulling out a red ball from the 90 in the jar. With gamble D, we know we have a 66% chance of pulling out either a black or yellow ball. However, there’s a flaw in our logic, because the first gamble assumes that there are more red balls than black ones – a scenario which would make gamble C a better choice for the second bet. This quirk of human brains is also called ‘ambiguity aversion’ – we’ll generally choose risky situations over ambiguous ones. So, how does this affect our trading decisions? If human beings have an aversion to unknowns, then they will naturally move towards ‘safe’ investment decisions. They’ll go with something tried and tested, with a fixed return, which feels safe and reliable. I guess it’s why so many people put their money in savings accounts. If this is true, then as traders we’re already bucking this convention – we’ve taken a decision to seek out higher returns, and the flip-side of the decision is that we’re taking on the ambiguous. What makes traders behave this way? Well, psychologists have linked a particular personality trait with people who show less ambiguity aversion – and that’s optimism. And it would certainly seem that traders are naturally optimistic people. A natural optimism that drives us to look for better income streams and to improve our financial health is a great thing … … but, a natural optimism in individual trading decisions … well, that can be dangerous. It can lead us into terrible decision making like … ‘I’ll double my stakes to win back what I lost on the last two trades’ … ‘I’ve had four losses in a row, so I must be owed a winner’ … ‘The last 3 trades have won, so I’ll double my stakes for the next one to take advantage of this winning streak’ … So, we’re faced with a contradiction … The same optimism that led us to seek out improved returns for our money, can also lead us to make poor decisions with that money in the market. But we don’t need to be stuck in this dead end – all too aware of our own weaknesses and failings, traders have already come up with a solution … The rules-based trading strategy. Most successful traders rely on rules-based, regimented trading systems. This is true of home traders following a list of rules they’ve written down themselves … to professional investment strategies that use complex algorithm programs, and everything in between. These rules stop us from following our hunches, or just crossing our fingers and hoping that luck will be on our side. Instead, they rely on research, testing, and retesting. Even traders who do rely on judgment calls on their individual trades, will still have a set of rules that must be fulfilled before they’ll even consider a trade. This style of trading helps us to keep disciplined and to quieten the battle that’s going on between our optimistic side of our nature, and the side that’s averse to ambiguity. The thing about ambiguity is that it can be the traders best friend…and his worst enemy. Ambiguity is the thing that adds risk to your trade – and it’s the reason why we can make money. The fact that we’re prepared to accept the unknown about which trades will win and which will lose is why we can get our superior returns. But at the same time, we need to keep disciplined. There’s a great experiment carried out by a scientist called BF Skinner in the behaviour of rats. If the rats were randomly rewarded with food for pressing a lever (ie sometimes they got food, sometimes they didn’t), they became obsessive lever-pressers, never knowing which press will bring them a reward. You can probably already see where I’m going here … There is always an unknown element in our trading. We need to be sure that we don’t turn into rats frantically hitting a lever. Sure, there’s ambiguity in trading – we can’t know which trades will win. But we can find patterns and develop strategies to give us an edge. It’s this knowledge of winning percentages that makes our behaviour rational. And not just like rats hitting that lever! The crucial thing to note from this is that what we believe are logical decisions are often very flawed. I’m sorry to say this, but human beings are rubbish at weighing up risks and making a rational choice – especially in the heat of the moment. But we can be good at building disciplined, rule-based strategies, and following them. These systems can be a piece of software that automatically trades for us … or scribbled on a piece of paper. What matters is that it’s based on solid research, it shows a clear edge of the market, and we are able to follow those rules to the letter. Best Regards, Next time, 1 Like |
Re: Forex Trading - Season 14 by Capitals: 4:05am On Oct 25, 2014 |
Capitals: Both trades ended up lossing, wasn't ready to give back more from what I gained from the market this week. MM and knowing how to lose smartly are some ways of staying profitable from my experience. see ya ll next week |
Re: Forex Trading - Season 14 by mular(m): 12:22pm On Oct 25, 2014 |
i trade price action, i know how to trade major price reversal, i know how to scalp at the presence of a failure. i know how to hedge a profitable swing trend in the presence of a countertrend bar and exit the countertrend trade in the presence of a confirmed pullback bar equally open another trade to support the current trend. the best advise i will give to a serious trader is to read the following books on price action. 1, Trading Price Action on Trends by Al brooks 2, Trading Price Action on Ranges by Al Brooks 3, Trading Price Action on Reversals by Al brooks it may be difficult to understand price action the first time or second time you are reading these books but i will bet you it will be the last time you will pay your dues on trading if you understands Al brooks concepts on price action. these books transformed the way i view and trade the markets, i make profits everyday i trade the market since Dec, 2012. i have a full time job and i am considering leave it, my trading plan is over 50 pages and if you dont have a detailed trading plan and written trading journal, i bet you cannot survived trading for 6 months. i don't toy with my MM principal. living and trading from a third world country, i dont know what to do with my life outside of trading, may God bless Al Brooks for his books, he is a valuable gift to any serious trader that reads his books. |
Re: Forex Trading - Season 14 by fxbomovi: 2:38pm On Oct 25, 2014 |
mular:share Please if you have d ebooks |
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