₦airaland Forum

Feshizzy:
Abeg make una rest for the competition analysis,
Let the competitors have breathing space,
Everyone has a commentary now,
Abeg next competition,
Honorable Organiser, please make the competition private, make this competitors fit concentrate wella,
All these side talks don dey too much,

Atleast the ones allowed to even speak on it should be the ones active it.

Please make the future ones private and result published after it ended,
Anyone interested should partake in the competition not in running live commentary,
E don do abeg

oga if you want to talk to me, quote me directly and no dey go around the Bush.. In any competition, there are always spectators. the spectators may either cheer you or jeer you. just like in football how some football fans cheer or jeer cristiano Ronaldo and messi.. that doesn't stop their performing in any way. i believe you as a Forex trader, on this kind of competition, what the outsiders are doing or saying shouldn't concern you in away. your psychology suppose don pass that level now. we the spectators loves samfelly. we calls him because we perceives him to be a very free and jovial person here.. so carry your over seriousness and aggression to someone else..
I been dey see your posts here, and you seems like a bully in all sense. oga no carry your i too know and over sabi near my side.. I'm a newbie in FTA thread doesnt mean I'm a newbie in Forex trading.
no be everybody like to dey misyarn and talk down on people like you.

hmmm.. samfelly keeps falling from grace to grass for competition.. wetin dey happen now?

in this line of business, Losses are inevitable. even the very best of traders all have series of losing streaks. IT IS NORMAL. How you handle losing streaks emotionally is what determines how long you are going to survive in this game.. the big question is can you psychologically handle losing 8 or more trades consecutively without a win in between? can you keep your emotion stable after such loses?
if you can't do that, I'm afraid you have no business with Forex trading..

Hmmm..The Love for AUDUSD in this thread is second to non..
its a good pair though. the only problem I have with it is its Pip value..

Yamiriflathead:
Your father 9 get nairaland abi which kind useless question be this?
I dare u to explain to me what a prop firm fund is so I can put you through public ridicule too

we are not here to ridicule ourselves. we are here to learn, share ideas and improve our overall trading career. if you are only here to ridicule someone, I guess you are not matured enough to be here in the first place.

Yamiriflathead:
Wow, so he lost 50kdos worth prop firm funded accounts and an additional 775dos just like that.
And the guy even thinks am useless to the society..
Lmfao

can someone ban this guy already.. how can someone be so clueless and uninformed.. besides, what are you doing here?

GreatestManEver:
for gold just divide the 20$ by number of pips you’re risking .If you’re risking 500pips on gold . That’s 20/500= 0.04
So 0.04 is your lotsize.
For gold o

this is exactly how I calculates lot size before opening a position. but I still haven't figure out the right way to use this on Brent crude..
if you ever try to calculate lot size on Brent crude, u will understand my confusion..
so do you have any idea?

Fxwarrior:
Forex trading is not luck if you're patient to watch the charts eg weekly and daily. Combining technical and fundamental analysis is key to success. Know when to sit on your hands.

Many may wish to trade gold on Monday but patient traders would wait until Tuesday to know the direction.

Besides increasing the lotsize arbitrarily could spell disaster. It's better to maintain a constant lotsize whether losing or winning.

Don't try to gain from every move. The saying goes: Bulls make money, bears make money while pigs get slaughtered.
Never buy into a resistance or sell into a support.
Be a sniper trader: Wait for that golden opportunity and profit from the major trend especially when there's volume in market.
Never trade on impulse.

Experience breeds confidence.

You said it All bro..
A very brief summary of the right attitude towards trading.. Those who wants to be consistent on the long run should read and screenshot this..

samfelly:
Welcome to the club. Your own small compare to mine and others' here (I am sure). I even thank God say the Covid19 loan I applied for no enter my aza, otherwise, I for don blow am since last year

in this game, Understanding and application of the right money management is the Ultimate Holy Grail.. A good money management plan can turn a 35% winners into long time success when applied religiously.
Remember, It doesn't matter whether you are right or wrong. what matters is "How much you Make when u are right and how much you lose when u are wrong..

dabanta:

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How do you expect to be successful by using something Rigid (Robot) for something as flexible as the Forex market? it doesn't make sense to me when some people try to sell the idea of Robots because the market is ever changing and highly flexible..

Tony142:
Foolish people attack other people opinion, while smart people ask question about others people opinion in order to know more, so with this your question I think u are smart



In my years of trading I discovered that there are 3 types of profitable strategy cut off mark, when a strategy meet this cut off mark then it is considered a good strategy


For example, let assume u applied for medicine and surgery at the university of lagos (UNILAG)

And the university said that in order for any student to be admitted into medicine department he or she most have a minimum jamb score of 320, this is to say that the cut off mark for medicine in unilag is 320




Now, let assume u score 290 in jamb, u will not be admitted into medicine by unilag, why?...because u did not meet the cut of mark (320)



Since I love inventing things, what I did was that I invent a "strategy cut off mark" that all strategy most meet in order for it to be considered as a profitable strategy




Below is the 3 strategy cut off mark I invent



1. 80% win rate + 1:1 RR
2. 50% win rate + 1:2 RR
3. 30% win rate + 1:3 RR




Note: the 3 strategy cut off mark above is just the minimum amount needed for a strategy to be considered profitable, for example if u have 90% win rate + 1:2 RR u are profitable while because this strategy is above the 1st strategy cut off mark, so when I say 80% win rate + 1:1 RR, it does not mean it will always be 80% win rate + 1:1 RR, it can be above it too, what matters is that your strategy meet the cut of mark


For your strategy to be considered as a good strategy it most meet one of the above cut off mark or else it is a useless strategy


So, how do u know if your strategy meet the above cut off mark?....very simple all you have to do is to use a trading simulator to backtest or forward test the strategy with atleast 1,000 signals, 1,000 signals is the minimum trades set up u have to take or back test before u can conclude if your strategy is good or not, after using the 1,000 trades signal then compare your results with the strategy cut off mark above to see if your strategy passed the cut off mark or not, if it does not passed it then you will have to re-write jamb again (look for another strategy to test)




Back to your question, in order for you to know if u are just being lucky or not is to check if your strategy have being tested with all the types of market




There are 3 types of market

1. Trending market
2. Ranking market
3. Choppy market




Every strategy has a particular market that it works best in, for example let assume u have a strategy that works best in a trending market, and the market has being in an uptrend for the past 3 months, if 80% of your trades is a BUY, u will win 80% of your trades, why?...because the market is in an uptrend for the past 3 months and most of your trades are BUY, so the market will favour you because u are following the direction of the trend so you will be having a lot of winning streak, but guess what? When the market change to a ranging market or choppy market u will started losing money, while? Because your strategy is only good In a trending market, but now the market is no longer trending it has changed, it is now ranging or choppy so you will surely lose money




So the way to know if u are being lucky or not is to make sure u test your strategy in all type of market condition (trending, ranging & choppy)



If after testing it in all the 3 types of market and the strategy passed the strategy cut of mark above then congratulations, you have got a solid strategy




One of the way to know a good or bad strategy is to backtest or forward test it, but since I hate stress and love inventing things, I decided to invent 2 ways to know if a strategy is good or not without even backtesting or forward testing it, but I do not want to go into that, I have reveal enough secret already, so that is it

Oga you talk Too Much.. we are all humble learners here.. no come dey form boss here..
I have been in Forex business for so long. and I have come across people like you often. calm down with this gra gra.

saintfaculty:
A sad miss on GU this AM.

@realone12 , we all experience that.
Just try to stick to an asset or 2, and then learn to lower your trading risk by using the lower TF(1min) for your entry and sl...
Stay Positive

Thanks boss! for you an infofirst to come up with similar advice, i think I now know where my problem is from. I will apply this advice accordingly..
Gracias!!

infofirst:
Try and focus on less pairs, less risk. More usually messed up mental stability especially during losing streaks.

thanks for the advice boss..
I Think focusing on less pair is the ultimate solution.

What happened to me in the market last week is not something to write home about..
with my current state of mind, its very easy to think the market has some beef with me.
how can you not believe the market is hunting your SL when one long candle forms against you immediately you open a position -- the long candle always takes the opposite direction of ur trade. and it will only stop and retrace back immediately only when it hits your SL... the moment it hits SL it retrace swiftly and never return back there again..
the worst part is that when its sure it has kicked you out of the trade it will now go on and do exactly as you anticipated..
I took 8 different trades (different pairs) and this same thing happened in all of the trade I took.

DAMN!!! I just had to talk about this to feel relieved..

Englishisamust:
Have seen someone with $200k, so waiting dey sup??

prop fund?

DannyFX2638:
this one day get doubt on forex trading.. u are checking if forex is worth it or not.. I pity you , Guy if u don't have believe, just leave it and don't stress yourself

How can i doubt Forex trading when I am a Forex trader?
its just an innocent question.
the highest I have seen is $55k (personal account). have you seen anyone with bigger account?

Question For all Forex traders here..
What is the biggest amount have you ever seen on someone's/friend's Account..

I mean the biggest amount you have seen with your two naked eyes oh.
either on friend's account or someone you know..

Note: I'm not talking about prop account..

hmmmm.. GBP well done ooh.. as you don hit my SL now, wetin you gain..

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people like this should not be allowed to make a post on this reputable thread.. i hate sugarcoating.. there is no such thing as easy money.. this life is like a battle field. we are all indirectly or directly competing against each other..there is no easy way out.. its a survival of the fittest.. you have to strive to be better than all your competitors.. and before you become better than all your competitors, you must have toil toil and toil!!

Jameselias:
really?

Hahahaha..I laugh in Spanish..
who no know, no go know..
in this business, A newbie who is in a rush to fund his account is on a suicide mission.
@Jameselias should we tell him? Forex trading is nobody's mate..

About this competition that just ended today.. Abeg wetin be the price for the winner ?

saintfaculty:
Thanks Boss

please if i may ask.. do you lose trades at all??
I mean, do you have losing streaks??

Brethren, pls I need urgent answer.. is (1) instaForex a good broker? (2) does instaForex offers No Deposit Bonuse? thanks as you take your time to answer me..

Bosses in the building, abeg you guys should help me answer this matter..ABEG wetin una dey use verify new forex ACCOUNT? in my own case, I dont have passport, I lost my ID card (no chance of getting anyone presently) and I don't have driver's licence... Abeg is there any method i can use to go around this personal verification when opening an account with a new broker if i dont have all this documents i mentioned

VlamesIffect:
As par say you be assistant vice chair for RBNZ na...... no wahala my boss...make i use 0.25% of my account balance buy NZD....

Trade Responsibly bro.. in as much as I advice people to pay attention to NZD surge, I dont expect you to blindly jump on the market.. wait, wait and wait.. you are to take a couple of swings only when you spot the obvious.. Gracias!!!!!

For all you swing Traders.. pay special ATTENTION to NZD this coming week.. its going to be strong against some of its pairs.. though, I'm not sure of the particular day of the week it will start surging high.. but surely, it WILL!!!

please when be next competition now.?

DestinyDjohn:
Truly Forex is not for the weak....market go humble you

i have never seen anything as insecure as The Market. it never want to be figured out.. just when you thought you have figured it out, it turns around and knock you down without hesitation..

karkinase:
See volatility

as in ehh.. in a blink of an eye, everything turned red

infofirst:
Thank you boss mi. I will.

though I'm new here, but I'm not new to Forex.
from the way I observed you and the good things people are saying about you, I think its safe to assume that you are the most humble guy here... well done!

just monitoring the situation here..