infofirst:
Where are you guys participating in the contest? I was going through and I have to drop this. Its not good money management to trade lot thats more than 0.05-0.1 on a $1000 account balance. No matter how sweet the signal is.

boss this also boils down to psychology. after having a losing streak of trades, one might be tempted to use bigger lots to recover....but I have come to discover that this in most cases is the beginning of blowing that account.

infofirst, how are d winners of d contest selected?

candlestick:
infofirst, how are d winners of d contest selected?

Through the set rules and the system automatically rank traders based on their performance and max DD of 20%

@All, its the psychology for real.

If you want to trade btc or gold or any volatile instrument, create a separate fx account for it.

It can give or take easily.


No emotion pleading allowed.

Kaesyrn:


Trade idea �

EURJPY Long��

View for weekly...

It's at my R1 which might not take much volatility to break but would need a nudge...

A retest and gain of momentum would be needed to break the first resistance before reaching the second resistance above (purple box)...

This is a weekly timeframe so this retest would see like 4 H4 candles....

All in all this is technicals, fundamentals could influence the Euro which is the base quote here in this case and pump it up without needing a retest...

Meanwhile if you look carefully you'll see a candlestick formation and pattern...


First post here, I'll need contrary opinions from the elders

Opened quite well this week...

Taking pips off the Short moves ��

infofirst:
Losing more than 10% in a single trading day with no significant news release is a bad trading practice.



Never give up thou. Its fine to fall. Na who no get up after falling Bleep up.

Yeah, Brov. I concur.

infofirst:
Also, if you can not trade one or two pairs successfully, the odds of trading 25pairs successfully is close to zero.

Lol... I trade all major and minor pairs.
My rule for forest is simple. "Discover what works for you"

Trade idea �

USDCHF SHORT ��

Spotting a double top formation....

Candle formation...

Abambam:
Playing out now.

chfjpy buy @ 117.24 , stop loss 40pips , take profit x3

Abambam:
chfjpy buy @ 117.24 , stop loss 40pips , take profit x3

I've been waiting for u to place a trade call since you started posting charts, thank God u finally did..

Fingers crossed, more blues

jcmaiah:

Lol... I trade all major and minor pairs.
My rule for forest is simple. "Discover what works for you"

Can I ask a question bro?

jcmaiah:

Lol... I trade all major and minor pairs.
My rule for forest is simple. "Discover what works for you"

Trading so many pairs won't make u understand the market movement.. If u can get a max of 5-10 pairs u can trade weekly is OK.

haryodehjia:


Trading so many pairs won't make u understand the market movement.. If u can get a max of 5-10 pairs u can trade weekly is OK.

Like I said, the problem people have in forex is trying to make it perfect like its a wedding gown. I will understand market movement alot better trading many pairs, just that it will take longer to master that.
I know people that trade one pair, and I also know people that trade all pairs like me.
Truth is, figure our what soothes your lifestyle, emotions and target, and trade accordingly. If I am to trade just one pair, I will need to be on PC more often that my schedule can permit.

infofirst:


Can I ask a question bro?

Yep

Karleb:
If you want to trade btc or gold or any volatile instrument, create a separate fx account for it.

It can give or take easily.


No emotion pleading allowed.

True. see that massive drop from eithy,just in one day.

I pity those who bought at the top.

Honestly gold and btc can cause high blood pressure to someone. Those markets kills.
I will and run away from gold for now. For the newbie please leave gold and concentrate on currency, just be patient you will make it

jcmaiah:

Yep

What was your percentage gains every month since you started trading all major and minor pairs?

dennison4luv:
Honestly gold and btc can cause high blood pressure to someone. Those markets kills.
I will and run away from gold for now. For the newbie please leave gold and concentrate on currency, just be patient you will make it

Btc is a good pair to trade anytime any day unlike Gold... Gold is the worst pair am scared of trading any time any day... Doesn't respect structure and also fundamental

jcmaiah:

Like I said, the problem people have in forex is trying to make it perfect like its a wedding gown. I will understand market movement alot better trading many pairs, just that it will take longer to master that.
I know people that trade one pair, and I also know people that trade all pairs like me.
Truth is, figure our what soothes your lifestyle, emotions and target, and trade accordingly. If I am to trade just one pair, I will need to be on PC more often that my schedule can permit.

I was once like u trading so many thinking that will make me successful but no.. Too many pairs can cause u headache.
Do what u feel is best for u

Donvic4u:


I've been waiting for u to place a trade call since you started posting charts, thank God u finally did..

Fingers crossed, more blues

Good morning bro. Sent you a message

haryodehjia:


I was once like u trading so many thinking that will make me successful but no.. Too many pairs can cause u headache.
Do what u feel is best for u

Lol... That's if getting your signals involves too much of plotting and calculations. Mine can be traded by someone who don't know what a candlestick is. I only log in once in a while to see how it's going. The beauty of it is that I don't need PC either. In order to control the risk, I trade not more than 0.01 lot size per 1000usd balance.

infofirst:


What was your percentage gains every month since you started trading all major and minor pairs?

Not less than 20%. Ranges between 20% to 35% depending on volatility in that month. My lot is 0.01 per 1000usd in other to minimize the draw down. If I decide to double my lot not minding the drawdown, that would leave me at not less than 40% per month.

infofirst:


What was your percentage gains every month since you started trading all major and minor pairs?

My own question, how many pairs do you trade and what's your lot size per 1000usd balance?

haryodehjia:

Btc is a good pair to trade anytime any day unlike Gold... Gold is the worst pair am scared of trading any time any day... Doesn't respect structure and also fundamental

Gold respects support and resistance structures very well. Just that it required a lot of Equity to trade it. Like someone pointed out, Gold should not be traded with other currencies. It should have a dedicated account

jcmaiah:

Gold respects support and resistance structures very well. Just that it required a lot of Equity to trade it. Like someone pointed out, Gold should not be traded with other currencies. It should have a dedicated account

Thats true. Gold is easier than Bitcoin. Bitcoin has no past history to guide your trading on the chart unlike Gold. I hail short term bitcoin traders. The long term traders are fine.

jcmaiah:

My own question, how many pairs do you trade and what's your lot size per 1000usd balance?

My normal self, I trade two pairs and max 5 pairs but study other pairs to improve my understanding of how price move and how support and resistance are respected.
When Mr greediness in me takes over, I trade as many pairs as will quench the greed.0.01 lot for every $1000 too except when Mr greediness took over again as well.

infofirst:


My normal self, I trade two pairs and max 5 pairs but study other pairs to improve my understanding of how price move and how support and resistance are respected.
When Mr greediness in me takes over, I trade as many pairs as will quench the greed.0.01 lot for every $1000 too except when Mr greediness took over again as well.

Using 0.01 per 1000 and trading only max of 5pairs will always make you trade out of strategy once in a while because of the need to meet certain targets.
My take is this, if your strategy is solid, you increase your lot a bit. Maybe 0.02 per 1000usd

dennison4luv:
Honestly gold and btc can cause high blood pressure to someone. Those markets kills.
I will and run away from gold for now. For the newbie please leave gold and concentrate on currency, just be patient you will make it

Gold doesn't cause high blood pressure,
Its trading it with a small account size and over leveraging that causes it

Donvic4u:



Gold doesn't cause high blood pressure,
Its trading it with a small account size and over leveraging that causes it

Please mentor me on how to trade gold, that is where my problem is with forex trade.
I am okay with trading currencies but gold is killing me

Abambam:
chfjpy buy @ 117.24 , stop loss 40pips , take profit x3

hit stop.

dennison4luv:


Please mentor me on how to trade gold, that is where my problem is with forex trade.
I am okay with trading currencies but gold is killing me

Gold no be for boys o, na for people with big capital like Oga Info and pipsbask