₦airaland Forum

pippimp:
You've just itemized the reasons why it would not be successful. You've just said you turned $13.00 to 121 in two and you don't see a problem with that. 2) You withdrew from the account. Don't get me wrong, i am firm believer that you must withdraw from you account monthly because you have to pay yourself, but if you start with an account that small, you may never achieve you desired goal. Which is why i have multiple accounts. If you look at my fxbook account that i created, i always withdraw from it weekly, else the account would have tripled by now. I have another account like that which i withdraw from. My main account i don't touch for no reason. I do this because when i first started compounding, i just couldn't get anywhere because of frustration. What you are trying to do, i have tried to do it. I know a lot of people who have also tried and we all failed. Compounding is probably the only way to real wealth in forex, but not with amounts like that.

Well,
It's see how it goes, shall we?

Feshizzy:
Well,
It's see how it goes, shall we?

I wish Gods speed.

^^^^ The 2 persons above are definitely right but like the initiator said;its a 3 years GAME. its not a main focus yet until it begins to turn one maybe later on by this time next year if the account gets there.
i might not be able to remember those long hashtags ooo! #NL3Y...(nairaland 3 years).
some people already started and i was here waiting for the bell to be ranged.

pippimp:
It is not only about the MM scheme. It is about the psychology of it. Trading with an amount that small will frustrate the living hell out of you. That is not my opinion. It is a fact. I wouldn't even advice anyone to start trading with 300 dollars not to talk of 10. Trading is boring most of the time but can be addictive. When you don't start seeing results or action the way you want, that's when you will start making mistakes.

Bros, you and Feshizzy are very right. I really understand your point very well. That is why it is a sub account not really a main account. And the point is if anyone is participating, and you are done with your weekly/monthly target, that should be the end of that trade in that week/month. That comes to personal issues of handling physiology of it. If you can be disciplined in the sub account and you grow it gradually, it will make you a better trader, make you trade potentially best entry (by being patience).

And on the other hand, In fact, it can be wiped out in 1st week or month because nothing is really guaranteed in fx market especially since we are trading different mm and strategies. But i will disagree that minimum of 300 bucks, If you are given 100000$, you can as well blow it away if you dont know what to do with it in the market. The smaller the money, the less emotion land vice versa especially when you are loosing. Which brings me to the conclusion by using the compounding excel sheet, so that we can stick to plan our trade a head. Remember it is a sub account, just the fun of it, who knows what it will bring out from the market?Cheers......
@jline , persoanlly, will wait to start next week.

priceaction:
@jline , persoanlly, will wait to start next week.

but that doesn't stop me from starting early sha...let me just wait till next week as previously agreed.

your wish bro. Even you can start today being new month, cheers.

JLINE:
but that doesn't stop me from starting early sha...let me just wait till next week as previously agreed.

U.S. Manufacturing, A Drag On Rates Increase

Last week, when the odds of Fed raising rates later in the year jumped. I said it is unlikely the Fed will raise rates this September because of low productivity, especially from the manufacturing sector. Yesterday, the unemployment claims remained low for 77 consecutive weeks, but something never changed, that was the low factory output and oversea orders — a huge concern if the Fed planned to attack the surge in unemployment and low new job creation that usually accompany high interest rates.


http://investorsking.com/u-s-manufacturing-a-drag-on-rates-increase/

priceaction:
Bros, you and Feshizzy are very right. I really understand your point very well. That is why it is a sub account not really a main account. And the point is if anyone is participating, and you are done with your weekly/monthly target, that should be the end of that trade in that week/month. That comes to personal issues of handling physiology of it. If you can be disciplined in the sub account and you grow it gradually, it will make you a better trader, make you trade potentially best entry (by being patience).

And on the other hand, In fact, it can be wiped out in 1st week or month because nothing is really guaranteed in fx market especially since we are trading different mm and strategies. But i will disagree that minimum of 300 bucks, If you are given 100000$, you can as well blow it away if you dont know what to do with it in the market. The smaller the money, the less emotion land vice versa especially when you are loosing. Which brings me to the conclusion by using the compounding excel sheet, so that we can stick to plan our trade a head. Remember it is a sub account, just the fun of it, who knows what it will bring out from the market?Cheers......
@jline , persoanlly, will wait to start next week.

Quick question; what will you set your leverage to?

^^^
Brokers now offer up to 1:1000
But pretty standard these days are around
1:200 to 1:500


Truth be told,
It doesn't matter who starts first,
It's no competition but a challenge,
All we need to do is to be organised,

@jline I like your hashtag, we should use it.
Mine was just a sample,

And that's for a general tag, how about individual tags, to keep track of each trader,
Like #NLDTT001 (NLDreamTeamTrader001) or something more creative,
It's like a unique ID that separates a trader from first his/her numerous post and then the thread,

For sample again,
--------
My summary for this week,
I made 10000% of my account for week 2.
#NLDTT002 #NL3Ys
------

That way, when someone search for #NL3Ys it shows all the progress made regarding the goal, and when #NLDTT002 is searched, it shows individual trader's progress.

Just my humble opinion though,

@Feshizzy
its ok,you mean like this abi : #nldtt001 #nl3y

Edd1e... that your GBP.JPY call was on point. welldone brother

JLINE...I witness live that your GBP.NZD call was superb. welldone

pipsbasketing,,,,your basket is superb,,,but I cannot trade 5 pair at a time not to talk of over 20pips

I just like priceaction project,,,,,especially the bedsheet (spreadsheet) but I can not trade $10 acct. I will personally use that bedsheet compounding with $1000 look very attractively achievable with just 15% weekly target of 3 year

currentprice:
Edd1e... that your GBP.JPY call was on point. welldone brother

JLINE...I witness live that your GBP.NZD call was superb. welldone

pipsbasketing,,,,your basket is superb,,,but I cannot trade 5 pair at a time not to talk of over 20pips

I just like priceaction project,,,,,especially the bedsheet (spreadsheet) but I can not trade $10 acct. I will personally use that bedsheet compounding with $1000 look very attractively achievable with just 15% weekly target of 3 year

You are right on point on the bolded same thing i thought when i saw the spreadsheet with the bolded even reducing the weekly target still seems attractive using $1000...since the $10 is a groupie thing,doesn't stop me from personal project of the $1000 in another account or broker too

currentprice:
Edd1e... that your GBP.JPY call was on point. welldone brother

JLINE...I witness live that your GBP.NZD call was superb. welldone

pipsbasketing,,,,your basket is superb,,,but I cannot trade 5 pair at a time not to talk of over 20pips

I just like priceaction project,,,,,especially the bedsheet (spreadsheet) but I can not trade $10 acct. I will personally use that bedsheet compounding with $1000 look very attractively achievable with just 15% weekly target of 3 year

Boss with 15% weekly for 3 years on a $1000 account.
Your name would enter forbes oo!

@Jline, yes Sir, just like that.
So who has opened a subaccount would pick a serial tag,
I believe priceaction would be making a grand opening post with all the rules and details of Project "break the bank of the broker" on Monday to commence properly.

^^
I don't use to give 2nd look to spreadsheet posted on here,,,,,,but this priceaction own look good it can even help some traders' emotional problem. "once you achieve your weekly target close the account" the good part,, it is not daily target so it create more rooms for traders' patience e.g if you don't see what appear like sure signal to trade on Monday don't bother,, try Tuesday.. if no good signal shown on Tuesday look for Wednesday and so on. i.e not by fire by force target must be achieve daily.

and if you enter wrong trade it would be easy to close with little loss knowing fully well you still hve more trading day to pursue your weekly target

Bros, you now understand the whole idea.
Not that many traders are not really good, but many dont have goal to pursue and not really discipline. If you have sub account that you dont trade every time, and it gives room for selective trades, at least high probability trades, with target, it will make the trader a discipline one of course. That is just the aim. That spreadsheet is just like a a guardian that project your possible target giving room for selective tradings within the week/month just to achieve the aim. The catch is that after getting our weekly/monthly target, if you keep trading that account we are not discipline and focus enough. Thats why i suggest sub account, so it will be easy.

@pippimp i am on 500 leverage with my broker, though i am not using all.

currentprice:
^^
I don't use to give 2nd look to spreadsheet posted on here,,,,,,but this priceaction own look good it can even help some traders' emotional problem. "once you achieve your weekly target close the account" the good part,, it is not daily target so it create more rooms for traders' patience e.g if you don't see sure signal to trade on Monday don't bother try Tuesday,,, if no good signal shown on Tuesday look for Wednesday and so on. i.e not by fire by force target must be achieve daily.

Feshizzy:
Boss with 15% weekly for 3 years on a $1000 account.
Your name would enter forbes oo!
.

if you look at the end result the thinking will be "can this be achievable?"

imagine $10 turn to $500k
$1000 turn to $50m

I will not look at that now but will give it a try

priceaction:
Bros, you now understand the whole idea.
Not that many traders are not really good, but many dont have goal to pursue and not really discipline. If you have sub account that you dont trade every time, and it gives room for selective trades, at least high probability trades, with target, it will make the trader a discipline one of course. That is just the aim. That spreadsheet is just like a a guardian that project your possible target giving room for selective tradings within the week/month just to achieve the aim. The catch is that after getting our weekly/monthly target, if you keep trading that account we are not discipline and focus enough. Thats why i suggest sub account, so it will be easy.

@pippimp i am on 500 leverage with my broker, though i am not using all.

1:500 is just too much. Anything over 1:100 is forex suicide. Low leverage is like the law. It is there to protect you. You might not like it but it is there for your own good. Brokers know that a high leverage will inevitably spell doom for traders. Personally, i prefer 1:20. It will control you. High leverage only fuels your greed.

pippimp:
1:500 is just too much. Anything over 1:100 is forex suicide. Low leverage is like the law. It is there to protect you. You might not like it but it is there for your own good. Brokers know that a high leverage will inevitably spell doom for traders. Personally, i prefer 1:20. It will control you. High leverage only fuels your greed.

You are right, that's why I said I don't just use it.

priceaction:
You are right, that's why I said I don't just use it.

My point is why have it at that in the first place? I am not try to tell you how to trade but there are some things that are inevitable in forex. In a way it's good you are doing this so you will come to the same conclusion i did a long time ago. Sometimes it is better to experience something than to be told. The logic is simple. Having anything over 1:100 is like playing with fire in forex and if one understands this, there is no way you can trade with $10.00 or $300.00 with that kind of leverage. Like i said though, it will be a good learning experience as long as at the end of the day, you come out knowing the importance of starting moderately with low leverage. Good luck.

currentprice:
Edd1e... that your GBP.JPY call was on point. welldone brother

JLINE...I witness live that your GBP.NZD call was superb. welldone

pipsbasketing,,,,your basket is superb,,,but I cannot trade 5 pair at a time not to talk of over 20pips

I just like priceaction project,,,,,especially the bedsheet (spreadsheet) but I can not trade $10 acct. I will personally use that bedsheet compounding with $1000 look very attractively achievable with just 15% weekly target of 3 year

Lol @bedsheet.
Thanks man, Good to have u back here bro.

@priceaction, the spreadsheet is really awesome and good for traders..

pippimp:
My point is why have it at that in the first place? I am not try to tell you how to trade but there are some things that are inevitable in forex. In a way it's good you are doing this so you will come to the same conclusion i did a long time ago. Sometimes it is better to experience something than to be told. The logic is simple. Having anything over 1:100 is like playing with fire in forex and if one understands this, there is no way you can trade with $10.00 or $300.00 with that kind of leverage. Like i said though, it will be a good learning experience as long as at the end of the day, you come out knowing the importance of starting moderately with low leverage. Good luck.

No matter how much leverage you use, if you will loose , you will lose. That's a fact. Even if you trade on 1:1 leverage, you can as well as lose your investment. So there is no guarantee of consistently making money in FX even if you use low leverage. It might just be saver but it doesn't guarantee success.
By the way what is your account size,broker and leverage if I may ask?

priceaction:
No matter how much leverage you use, if you will loose , you will lose. That's a fact. Even if you trade on 1:1 leverage, you can as well as lose your investment. So there is no guarantee of consistently making money in FX even if you use low leverage. It might just be saver but it doesn't guarantee success.
By the way what is your account size,broker and leverage if I may ask?

I have 3 accounts. I use XM and forex.com. The two which i withdraw from is set at 1:50 and the main one is 1:20. And you are right. You will always see losses in forex but wiping out your account is reduced tremendously with a low leverage setting. Like i said before, i had to experience the difference to understand it.

priceaction:
No matter how much leverage you use, if you will loose , you will lose. That's a fact. Even if you trade on 1:1 leverage, you can as well as lose your investment. So there is no guarantee of consistently making money in FX even if you use low leverage. It might just be saver but it doesn't guarantee success.
By the way what is your account size,broker and leverage if I may ask?

Sir I advice you start preparing a speech for Monday, Because we are about to make history here.

For me, I'm gearing up already,
Let's see how far we would ride.
Action speaks louder than words so they say.
I just spoke with my broker that when I turn $50 to $1M, hope they would be able to pay me.
They said YES!

Feshizzy:
I just spoke with my broker that when I turn $50 to $1M, hope they would be able to pay me.
They said YES!

lol... that's very very very funny...joke of the year,you called your broker to ask them if them go pay.
lwkmd rotf

Feshizzy:
Sir I advice you start preparing a speech for Monday, Because we are about to make history here.

For me, I'm gearing up already,
Let's see how far we would ride.
Action speaks louder than words so they say.
I just spoke with my broker that when I turn $50 to $1M, hope they would be able to pay me.
They said YES!

You just made me laugh hard here , by calling your broker. You want their attention, abi?

pippimp:
I have 3 accounts. I use XM and forex.com. The two which i withdraw from is set at 1:50 and the main one is 1:20. And you are right. You will always see losses in forex but wiping out your account is reduced tremendously with a low leverage setting. Like i said before, i had to experience the difference to understand it.

That is true. I understand. One of my account is with oanda and I never use more than 1:50 according to American regulations. What you are saying is the reason American government made sure all their registered brokers are not beyond 1:50 to protect loses. But here, we want to catch fun with our self. It is just sub account.

this leverage thing,,, God know say I don't look at it

okay I have $1000 I trade 0.1 lot size with 1:500,,, assuming the pair is $1 per pips ,,, I make 100pips I get $100 vice versa

okay I have $1000 I trade 0.1 lot size with 1:50 assuming same pair. pls if I lose 100pips here am I going to loss $20 value,,,abi no be the same amount I go loss with trader with 1;500

currentprice:
this leverage thing,,, God know say I don't look at it

okay I have $1000 I trade 0.1 lot size with 1:500,,, assuming the pair is $1 per pips ,,, I make 100pips I get $100 vice versa

okay I have $1000 I trade 0.1 lot size with 1:50 assuming same pair. pls if I lose 100pips here am I going to loss $20 value,,,abi no be the same amount I go loss with trader with 1;500

me too over here,all those many leverage language no dey bother me ooo! i always set it to 1:400 though but never considered it affects my trading...so far say stop and tp dey.

back in those day of my loss making trading,,,,the only thing I knew on leverage is limit balance,,, assuming my $1000 reduce to like let say $70 due to loss trading assuming I trade 0.2 lot. with less leverage of like 1;100 my platform would say insufficient balance to make that trade. then if I now increase my leverage to 1:500 the platform will now allow me to trade the lot size with that $70

that is the example I know about leverage

me do not know much about leverage since I know what am going to lose if trade taken before I enter trade

priceaction:
You just made me laugh hard here , by calling your broker. You want their attention, abi?

My brother,
Better safe than sorry
I don't want story that touches,
I know they would pay before,
I just want to hear them say it.
And for them to take it as a joke, because when it happens, I hope they recover soon enough.

JLINE:
lol... that's very very very funny...joke of the year,you called your broker to ask them if them go pay.
lwkmd rotf

Actually it was a callback feature,,
They did the calling

Well for me the leverage thing is for people playing safe,
Here we are taking off the gloves. *for the project*

placed my eu buy tp at 1.124x and uj has 2 positions on it,one is a buy from around 100.xx and the other a recent sell from 103.51...the buy has a stop already in profit at 101.xx without any tp in sight while the new sell has a tp at 100.xx.
i expect a negative NFP...still thinking to close my uj buy now.
Gbpnzd is no go area,still holding. Gbpusd is no go area still holding both gn and gu are actually buying.
Thinking...
EDIT: afterthought,closed my uj buy,reason being that price might follow the decades old chart and now left with the sell. i just added another sell with TP at 101.55. every other thing are in my place.
out now,won't be on chart for NFP but just hope the eu and uj play according to scripts.

Perfect time to buy EURCAD. It's about to reach exhaustion. TP 14683.