harizonal123:
Quote of the week!

"No one likes to lose, but losing is inevitable in trading. Coming to terms with losing can make trading far more profitable.

Try to consider your losses as ‘Sacrificial Offerings to the Trading Gods’. The Gods are more likely to look favourable upon you in the long-term"

maryjames9:


This comment actually got me cracking. On one hand the quote is actually conveying a good message of persistence and emotional maturity while on the other hand, kinda encouraging and justifying addiction to forex regardless of impending cataclysmic losses. Thereby encouraging readers to develop an addiction, satisfaction and appeal to gambling their money away as a "sacrificial offerings" to "the gods" of forex.

My stand is this. If I have in my possession 1mIllion naira investment fund, I will only put 50k into forex trading, get a 5k data and 45k Intel core i7/i5 used elitebook laptop and invest the remaining into viable FG instruments, acquire land(FYI, a friend got a piece of land from a man at 500k per plot this year. This man bought 49 plots in 2006 at 150K and sold each plots in 2018 upward for 500k, calculate the ROI). I will however withdraw the money entirely after loosing max 20 percent into the market. No more than 20percent. Then go back to continue developing my strategy. I am that disciplined. I never lose more than 20 percent of my capital into forex and I always withdraw my profits immediately I make them leaving capital alone. I have never fund an account without making profits before and currently I am not live.

Forex is good, I love it like a second wife, I just love it but please don't invest your entire life STUPIDLY and FOOLISHLY trading live and loosing. Spend more time developing and training yourself in forex, getting right strategy and doing other side offline business while finding a profitable strategy. Life is too short to invest all the productive part of your youth watching charts.

wiconse:


Good to see you here bro.

Are you referring to newbies or professional traders

maryjames9:


People who want to keep "sacrificing" their hard earned money, money that if converted to other viable sources could have yielded a massive returns, expecting that "God's of forex" will smile on them in the "long run". Those are not Professional Traders. They are gamblers. Professional have rules of engagement and know when to cut their losses, though some so-called professionals like I read last month wiped accounts in billions of dollars in one stupid trade ignoring rules and expecting the losses to turn profits. God's of forex always have a way of punishing gamblers and stupid risk takers.

If you are not consistent profitably trading demo with same seriousness and commitment as you would trade live using a particular strategy as a newbie or pro or what have you, you have no business going live except to burn your money stupidly.

Good morning people.

TheYoda:
The trade I’m looking to take this week.
Watch-list
Buy
EurGbp , UsdCad.
Sell
GbpUsd , AudJpy , NzdJpy

Buying @ S61 and S78.
Selling @ R61 and R78

TheYoda:
Trade of the week so far.

Fleckingemy:
Good evening everyone, most comments I read online are discouraging me from entering into the fx market, have been learning d basic for like 2 months now, as a newbie what is ur advice to me and how can I play safe on forex in order to make a good profit pls ur advice is needed...



And lastly is it possible to be a full time trader ie dedicating all ur resources towards trading forex

Fleckingemy:
Good evening everyone, most comments I read online are discouraging me from entering into the fx market, have been learning d basic for like 2 months now, as a newbie what is ur advice to me and how can I play safe on forex in order to make a good profit pls ur advice is needed...



And lastly is it possible to be a full time trader ie dedicating all ur resources towards trading forex

Fleckingemy:
Good evening everyone, most comments I read online are discouraging me from entering into the fx market, have been learning d basic for like 2 months now, as a newbie what is ur advice to me and how can I play safe on forex in order to make a good profit pls ur advice is needed...



And lastly is it possible to be a full time trader ie dedicating all ur resources towards trading forex

THExxCRAFTERxx:

Hello Traders,

Let's hit the charts...

On the daily chart, USD/JPY is rearing its head above a key resistance level (108.856).

We should be looking out for how this pair closes its daily candlestick by 11 pm.

If there is a clean breakout, we could be targeting 109.889 as the next possible resistance level.

If there is a pull-back, then 107.749 may most likely be price next bus stop.

What are your thoughts?

TheYoda:
The trade I’m looking to take this week.

Watch-list-
Buy
Usdcad
Sell
Cadchf and cadjpy

Buying @ S61 and S78.
Selling @ R61 and R78

bojbest:



Long. Target: 110. Will share reasons soon.

longlife20:


I think one can go short if price get to around 56.80

Fmusty:


Sorry if I may ask, why have u being looking for USDCAD buy for about a week now, while it keeps Selling?

I believe you know that d trend is your friend, don't fight it.

Fleckingemy:
Good evening everyone, most comments I read online are discouraging me from entering into the fx market, have been learning d basic for like 2 months now, as a newbie what is ur advice to me and how can I play safe on forex in order to make a good profit pls ur advice is needed...



And lastly is it possible to be a full time trader ie dedicating all ur resources towards trading forex

Fmusty:


Sorry if I may ask, why have u being looking for USDCAD buy for about a week now, while it keeps Selling?

I believe you know that d trend is your friend, don't fight it.

THExxCRAFTERxx:

Hello Traders,

Let's hit the charts...

On the daily chart, USD/JPY is rearing its head above a key resistance level (108.856).

We should be looking out for how this pair closes its daily candlestick by 11 pm.

If there is a clean breakout, we could be targeting 109.889 as the next possible resistance level.

If there is a pull-back, then 107.749 may most likely be price next bus stop.

What are your thoughts?

TheYoda:
Did you enter sell? or just looking at it going down?