₦airaland Forum

Lifecontinues:
Here you go:
https://www.youtube.com/watch?v=XtVmggQHkrc&index=10&list=PLm4ynQdmC5L7atKYFqyBDWe-YZMTezkrO

Thanks bro.


How about the current price of USD/CAD?

Lifecontinues:
Current price? I do not understand exactly what you mean in its term but will answer with the following may be one of them could suit the question.
1..... Current price of USDCAD = 1.29167
2. USDCAD is not what a good trader should trade at the moment even till next week thursday or thereabout based on Energy 2. Momentum is very very dry. A trader in USDCAD may end of losing based on ranges or quietness (spread given cheaply to brokers with no return)

@no 1. Exactly what I wanted.


@rest of the comment, I'll keep it in mind.

i have usdjpy scripts in tact and took long from 102.17 but the bigger picture of monthly has a clear retrace back to 100.5 which is norm again before the main move possibly but wouldn't jump out of my trade till i see a possible break and guide via my 1hour chart below with price stalling in the lower mofu line(102.42) of the norm...but if that gets crack will quickly get off to reload at a better price if there is a retrace but i expect uj to respect the norm,mid and mofus of the brexit moves(high,low and close) though...monthly chart first and 1hour chart second.

Good Evening Pip Killaz,

Sorry for posting my trade report this late, I realised my data got finished too late yesterday evening, so I had to push my journal forward. As always, I ended my trading yesterday and I realised that as yesterday evening approached:

my trading week had elapsed,

Our trading month was gone,

The world's first half of the year was finally going to bed, and

It was time to take stock of all our events since the beginning of the year, and see how far we have come with the resolutions made on new year's eve

Anyways, I was able to scratch a meagre +0.4% and +14pips in yesterday's market, in summary:

TRADES: 2
GOOD TRADES:1
BAD TRADES: 1
PIP LOSS: -16
% LOSS: -0.4%
% ACCURACY:50%


Working on my weekly and Q2 trading result...I should be through by this evening or tomorrow

Happy Slashing

ALERT ALERT...BUY EU NOW USING 10PIPS STOP AND 40PIPS TP...

JLINE:
ALERT ALERT...BUY EU NOW USING 10PIPS STOP AND 40PIPS TP...

STILL VALID NOW BUT STOP NOW 15PIPS...

JLINE:
STILL VALID NOW BUT STOP NOW 15PIPS...

currently @ +15...lol scalping is fun,trying to use my style to scalp since time immemorial but seems am getting it right now. if i can then my broker is seriously in trouble...then my idea will have made the hit. imagine making $24,000 in a week or 2 weeks,it will be fun, lol
still working the maths but if i can't will ask for help here.

Lifecontinues:



Yea bro, whatever strategy that works on higher time frame will definitely work on lower timeframe only that one will have to be going in and out of market more frequently. Lower time frames are good with brokers that charge for swap/rollover because they provide low spreads (eg FXCM, Avatrade, CMtrading, Instaforex) while higher time frames are good when spreads are huge but low or no swap/rollover fee and that is why I trade with my current broker (They provide me with a fixed spread account and zero swap/rollover fee.

Success in your new plans

thanks boss

The Math
T1 -Balance $100 - Risk $50 - Take Profit $100
T2 -Balance $200 - Risk $100 - Take Profit $200
T3 -Balance $400 - Risk $200 - Take Profit $400
T4 -Balance $800 - Risk $400 - Take Profit $800
T5 -Balance $1600 - Risk $800 - Take Profit $1600
T6 -Balance $3200 - Risk $1600 - Take Profit $3200
T7 -Balance $6400 - Risk $3200 - Take Profit $6400
T8 -Balance $12800 - Risk $6400 - Take Profit $12800
T9 -Balance $25600 - Risk $12800 - Take Profit $25600

which totals.....

Balance $51200


Stop Loss and Leverage
This should be pretty self evident but here it goes

If you use 300:1 leverage, 17 pips is your stop loss. Your target is 34 pips.
If you use 200:1 leverage, 25 pips is your stop loss. Your target is 50 pips.
If you use 100:1 leverage, 50 pips is your stop loss. Your target is 100 pips.
If you use 50:1 leverage, 100 pips is your stop loss. Your target is 200 pips.
This actually involves 1:2 r:r but i need a 1:3 r:r and 1:4...with $50 as start capital,then leverage should be 400:1 then what stop loss pips and target should i have ?
i have tried since but seems my head is a little too occupied to get the right answer. help

in essence,i want to risk 10pips to get 30pips or 40pips(1:3 or 1:4) but i want the win of the 30pips or 40pips to get me $50,which will make my next trade balance to be $100 e.t.c

lol, Forex pre - maths dey sweet

Lifecontinues:
After I read and read and read again the calculations up there, I seem not to fathom.
But will give this as basics
Lot = 0.16
30pips gives $50 roughly, risk = $16
Lot = 0.12
40pips gives $50 roughly, risk = $12

But while thinking about the money in return, I would like to note moment like this destabilizes traders and muddles up alreading working
strategy (I once experienced it). Kindly try first on demo for weeks for some days before real oooo.

You need to note that only 3 losses will clear one's account to stop out

3 trades won't clear the $50 and even if its just $50 i could afford to loose though...the other maths not stated is that you risk 50% of your account at every point to get 100% but i am fine tuning it to risk around 25-40% to get 100%...lets say you put in $50
T1 you loose 25% of $50 =37.5
T2 you loose another 25% of 37.5=28.125
T3..........................................=21.0935
e.t.c. like i said its an idea but i have seen someone done it again and again and again but not Nigerian though cos over time traders from this side of the world has a limited way of thinking and their mind blocked.

JLINE:
3 trades won't clear the $50 and even if its just $50 i could afford to loose though...the other maths not stated is that you risk 50% of your account at every point to get 100% but i am fine tuning it to risk around 25-40% to get 100%...lets say you put in $50
T1 you loose 25% of $50 =37.5
T2 you loose another 25% of 37.5=28.125
T3..........................................=21.0935
e.t.c. like i said its an idea but i have seen someone done it again and again and again but Nigerian though cos over time traders from this side of the world has a limited way of thinking and their mind blocked.

I wonder why u r putting urself through this wahala, the calculation aspect is nothing compared to the real action. why not just stick to ur day/swing trading

Lifecontinues:
OK, 25% is most preferred amongst all the choices give...
That means lot can be 0.12, then
30pips = $36 return roughly
40pips = $48 return roughly
10pips = $12 risk roughly

thanks man...factoring that a micro account will be used that will be 12.0 lot,i used a tool for that. will demo it before swinging into action and like i said...just want to have fun,if it works good but if it doesn't then will try again and again. i see the probability of it working around 80% atm maybe the demo will increase it.

Edd1e:
I wonder why u r putting urself through this wahala, the calculation aspect is nothing compared to the real action. why not just stick to ur day/swing trading

thanks bro for the advise...a different account will be used and i just want to do something outside the box and have fun though.
once again thanks.

JLINE:
ALERT ALERT...BUY EU NOW USING 10PIPS STOP AND 40PIPS TP...

JLINE:
STILL VALID NOW BUT STOP NOW 15PIPS...

Will be closing trade before end of trading day...2 positions and will lock in around 22pips. chart for different entry below

You guys will not believe what I saw on Facebook group this evening.

An guy who used to be active on this thread charging 12 people $500 for webinar on his Facebook group in this Buhari era.

I've done my part to spoil his business sha, never believed people could be this heartless.

Please give the link, let me do small amebo since nothing they happen for market this time

Karlebolu:
You guys will not believe what I saw on Facebook group this evening.

An guy who used to be active on this thread charging 12 people $500 for webinar on his Facebook group in this Buhari era.

I've done my part to spoil his business sha, never believed people could be this heartless.

Why You Need to Learn to Lose Properly to Win at Forex Trading
By Nial Fuller in Forex Trading Articles | 17 Comments

key to success
I know it sounds cliché, but losing truly is part of winning, especially in trading. If you want to become a complete trader who truly knows how to trade properly, you must learn how to lose properly in addition to actually learning how to trade.

I know this isn’t perhaps a ‘fun’ topic to discuss, and you may not even want to read this article, but I promise you that is a huge mistake. You simply will never make money as a trader if you don’t understand the importance of losing properly in the market and how to do it.

So, for those of you who are looking for an ‘easy fix’ or ‘fast money’ without any losses, you may as well stop reading now. For the rest of you who truly want to have a chance of making consistent money trading the markets, read on…
Prime your brain for losing properly…

All too often, I see beginning traders trying to avoid losses in a number of different ways. It seems that people are pre-wired by nature to try and avoid losses, it’s a normal tendency. But, when it comes to trading, this pre-wired trait does us significant damage and will even result in blown out trading accounts and irreversible damage, if you allow it to.

Unfortunately, losses are part of trading, if they weren’t, everyone on Earth would be a billionaire, and we all know that isn’t possible. The simple reality of trading, is that you are going to have losing trades one way or another. If you don’t take predefined, calculated losses, you are going to take big, potentially account-blowing losses eventually. Remember; you can delay losses, but you cannot avoid them altogether, and there is typically a direct correlation between how long you delay a loss and how big it becomes.

As a trader, you need to simply view losses as a ‘cost’ of doing business in the market. Any business has costs that need to be overcome in order to turn a profit. If you own a restaurant you have operating costs like food, labour, rent, utilities, book keeping, etc. If your revenue surpasses all of these costs, you will turn a profit, if not, you lose money.

So, in trading, your costs are losing trades, broker fees / commissions and perhaps any equipment costs like a laptop etc. If you start viewing losing trades as just a part of the costs of trading, you will begin to shift your thinking from ‘trying to avoid losses’ into trying to MANAGE losses.
Why you need to learn to lose properly

By learning to lose properly you will be learning to control your losses below a predefined dollar amount per trade; the trade’s ‘R value’. The great thing is that YOU decide how much money you risk on any one trade, so that ability gives you the power to eliminate any ‘surprises’ and thus any emotion from your losses in the market.

Traders experience pain and frustration from losers for two reasons:

They ‘expect’ to win on a trade but instead they lose.
They lose more money than they are emotionally prepared to lose per trade.

Luckily for you, these two things are very easy to fix if you’re ready to be honest with yourself and face reality. To manage your expectations of a trade, you simply have to understand that any one trade can be a loser and that you never can know ‘for sure’ which execution of your trading edge will be a winner and which will be a loser. Thus, you should never ‘expect’ to win any given trade, no matter how ‘good’ it looks.

For the exact reason just discussed, you should never risk more money on any given trade than you are totally emotionally / mentally OK with potentially losing. That is to say, because you can’t know for sure WHICH trade will win and which trade will lose beforehand, you simply cannot go jacking up your risk beyond levels you aren’t totally emotionally / mentally Ok with losing. IF you do it anyways, it’s your fault you lost more than you’re OK with and all of the emotional trading mistakes you make in the wake of that mistake are your fault and yours alone.

The take away from all this, is the following: In order to lose properly you have to first prime your trading mindset to shift how you think about losses. You have to shift from trying to avoid losses to trying to accept them and learn how to manage them. You have to shift from expecting to win every trade, to remembering that you won’t win every trade no matter what, and you don’t know which ones you will win and which ones you will lose, so have no expectations and don’t ever risk more than you are OK with potentially losing on any one trade.
How to lose properly

OK, so you’ve read the above section and you have accepted the nature of trading for what it is; a random distribution of winning and losing trades.

Now, let’s discuss in 5 simple steps how you can lose properly on any given trade that you take:

Step 1:

The first step to losing properly (as discussed in the above section) is accepting that you will have losing trades no matter what. Once you accept this, you can move on to the next step, which is about devising a plan to minimize your losses as much as possible.

Step 2:

Next, determine the dollar amount or R value you are comfortable with potentially losing on any one trade. As I’ve written about before, we do not measure risk in pips or percentages, we measure it in dollars or pounds, euros, etc.

Step 3:

Now, you need to calculate your position size on the trade. You do this by first finding the best place to put the stop loss, and then you figure out how many lots you can trade so as to not exceed your predetermined R value on the trade. Remember to place your stop loss based on surrounding market structure (price action / key levels) not on greed or emotion.

Step 4:

Set and forget the trade. After you have set the trade up and input all the parameters: entry, exit (stop loss and profit target) and position size, it’s time to forget about the trade for a while. One of the biggest steps to learning to lose properly is simply not interfering with your trades. Most of the time, simply removing yourself from the equation after your trade is live, is the best idea, and for all beginners it’s what I recommend.

Step 5:

Don’t try to avoid the loss. This is where psychology comes in and can mess you up. You absolutely cannot make huge mistakes like moving your stop loss further away as price approaches it. You have to remember you can’t avoid the loss, eventually it will catch up to you, even if you happen to ‘avoid’ it this time, you will be building a bad habit that will eventually result in a huge account-ending loss. You’ve got to stay true to your strategy and remained disciplined and accept that the market will stop you out sometimes for your predetermined 1 R loss. As I discuss in this article on risk management, a successful trade exit can be either a winner or a predetermined loser. If you take that loser as you planned, that is still a successful exit, even though it’s a loss. Success is sticking to your plan and being disciplined.
Final thoughts on losing properly…

Please do not blow this lesson off, if you do, it will be the biggest mistake you make as a trader. You’ve got to put your ego and your desire to win every trade aside, because both of those things are only going to cause you to lose money in the market, and I know you don’t want to lose money.

Trading is difficult for most people because they cannot come to grips with the FACT that they are going to have losing trades as well as winning trades. Most people screw up the losing trades by trying to avoid them, and by doing this they create a ‘monster’. This monster is bad trading habits that ultimately lead to an account-destroying loss.

The only way to win at trading is to control and manage your losses so that when you do have winners, they will be able to easily offset any recent losers you’ve had and then some, leaving you with profit. Remember, it’s just like owning a business; your revenue must exceed your costs to make a profit.

Till next time

Karlebolu:
You guys will not believe what I saw on Facebook group this evening.

An guy who used to be active on this thread charging 12 people $500 for webinar on his Facebook group in this Buhari era.

I've done my part to spoil his business sha, never believed people could be this heartless.

webiwetin but you for leave the guy make him collect small thing na lol
you could kindly drop his username here then we all can be aware for future purposes.

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https://m./233857170077482?refid=27




.
That's the link to his group, he'll need to add you before you can post, it's a closed group.


I've forgotten his moniker I would have called him out.

The problem is not even charging, it's charging that much.

Karlebolu:
You guys will not believe what I saw on Facebook group this evening.

An guy who used to be active on this thread charging 12 people $500 for webinar on his Facebook group in this Buhari era.

I've done my part to spoil his business sha, never believed people could be this heartless.

Karlebolu:
https://m./233857170077482?refid=27
.
That's the link to his group, he'll need to add you before you can post, it's a closed group.
I've forgotten his moniker I would have called him out.
The problem is not even charging, it's charging that much.

wow

let me check and quickly try and do few minute research on the bold

currentprice:
wow

let me check and quickly try and do few minute research on the bold

Surveycash is the monika