Redsox11's Posts

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Business › Re: Forex Trade Alerts Season 17 by redsox11: 6:42pm On Aug 01, 2017

Now my bread and butter. By the way, my MA is 89 ema incase anyone is wondering.
I think it's very easy from my hourly chart to see what I do and how I trade.

Usually take a glance at 4hours to see what's going on, go down to 15mins to see how things are setting up.

GU -17 pips
GU +200 pips
CJ currently +55 plus, I'm going to hold it, missed a good entry yesterday.

Business › Re: Forex Trade Alerts Season 17 by redsox11: 6:31pm On Aug 01, 2017

I've got a lot of SL taken out today trying to scalp on 5mins, with reduce risk. I'm trying for entry with 2-3 SL and ride profit for 20-40pips .

The R:R is tempting but I'm getting my butt whooped seriously. I'll try out for this week with reduced risk. I could almost tell scalping is not for me. Yesterday GU went to profit.

Business › Re: Forex Trade Alerts Season 17 by redsox11: 6:22pm On Aug 01, 2017

Pipsbasketings:
Still running nothing removed or added for now, total of about 1,400.00pips in the basket.

Whenever I do a nonpipsbasketing trading I fail, knowing what works for you is key, consistency is another

Oh my, that's a lot of pips. Now I know who's taken all my money.

Business › Re: Defending FOREX Trading. A Golden Goose With A Bad Name. by redsox11: 3:20pm On Jul 30, 2017

dowjones:
Since Alpari declared bankruptcy on january 20, 2015 and the FCA UK took over, Alpari has been blacklisted.

Although they still fraudulently claim they are FCA regulated. thats a lie from hell (Red Flag #1)

Here's an annoucement from FCA declaring Alpari bankrupt https://www.fca.org.uk/news/statements/news-customers-alpari-uk-limited

Now you see why the regulator is the most important thing. FCA made sure most of Alpari's 100,000+ clients got their money back and they are still paying. Imagine if this happened in cyprus?

Alpari is more or less a technology provider (like blackberry). Any office you see Alpari claiming as a "branch" is just an independent business man using their brand name and tech. (server, price feed, Liquidity. etc)

Russia, Ukraine, Belarus, Kazakhstan, Uzbekistan, Moldova, Georgia, Mauritus, Belize, St Vincent and the great NIGERIA

Look at the 11 countries Alpari is operating from? Does this raise raise a red flag already ?

Now, to make it worse, All these countries do not operate with supervision from Alpari. They run independently. If you think i'm playing, go to the Alpari global website and act like you have a complaint about withdrawal. They will tell you point blank you should sort it out with the Nigerian office.

Now imagine Nigerians with your money with no regulation to put them on check.

I have a couple of things to say about the Nigerian office. but to avoid a long post. i will stop here

DO NOT USE ALPARI.or use them with chicken change.

I was trading with Alpari UK then. Was given 2 options, have my money transfer to my bank account or send it to ETX Forex Broker which bought some part of Alpari UK. I've since stopped doing business with ETX though.

Keep up the good work.

Cheers.

Business › Re: Forex Trade Alerts Season 17 by redsox11: 3:04pm On Jul 30, 2017

Pipsbasketings:
You just won my heart with this, wow.

I actually had something to say about it but reserved it for the future like now. I wanted to question the genuity of the %gain in that you must have been using a huge lot to gain about 87% return in less than 2months.hence wanted to sound a warning note that you should be careful with lot. Though that % is not bad for the lucky trader but the market will have its ways to get it back in same fold.

It's best to trade with low risk but I do have good R:R 1:8 often enough, which allows me to trade with low risk but good return. Currently experimenting with new ideas and want to see how far I can stretch that.

Imagine how are you going handle a single trade with 30% return of your capital but still floating, hold for more growth or what??

hegelian:
Why should I doubt you when am not giving u any money??u lie at your own peril...I will only start all that scrutiny when I wanna part with my dough...am not here to know who is right or wrong...

Not you really, generally speaking for 'us' less experienced.

Anyone ever done the 1 pip experiment. Try entering trade with SL of 200 pips and TP of just 1 pip. If you try this experiment, you will see how much harder it was to get one pip than previously thought.

You will notice the act of obtaining a small and likely reward is contrasted with the unlikely-but-possible loss of 200 pip.

If you start with an incorrect premise: thinking that trading should be like a job(more of business to me), and you'll end up with a mistaken conclusion..., and losses. There are many on the forum who will chase their tails forever, or until they lose all the money or interest they ever had in this endeavour.

I don’t think successful trading is fully about any particular system, what if you are given the perfect system but you still don’t follow the instructions or rules to the letter. That’s why several people classify trading as being an “art” -implying that it requires certain subjective qualities for success but I know some traders are systematic in their trading and trade away their system perfectly.

For me, finding the low risk entry is crucial.

dowjones:
The moment i saw your screenshot i went on myfxbook and SEARCHED for your system's name, got it and i;m tracking you. (its not new info myfxbook can be altered)

I requested to reach out to you to talk about some things (publishing included) but you ignored me.

There are serious people watching this thread... but with all the child's play here nobody will take anyone here serious.

All is see here is a pissing contest and screenshot wars. set yourself apart with a real time publishing account with at least $500 of real funds and aim for green till the end of the year and watch 2018 become a good year.

I didn’t get any message from you. Following your other thread "Defending Forex... " You're doing a great job.

I work with some low end group, nothing major at all. Unfortunately with NDA contract signed, I won’t be off the contract for another 5 weeks but I do have a personal account. I'll look into it.

1 Like

Business › Re: Forex Trade Alerts Season 17 by redsox11: 10:25pm On Jul 29, 2017

hegelian:
U are doing a wonderful job.keep it up...I love your monthly return ratio

What if I told you Myfxbook you commented on is not real? what if I say it's fake?

Don't believe anything you see on face value, don't have take a screenshot of Myfxbook, take the url and check yourself.

You can simply edit my Myfxbook by right clicking and click on inspect, then you can edit and take a screenshort of whatever you want anyone to see.

It's dog eat dog world. Just putting this out there, guys be careful.

Cheers.

1 Like

Business › Re: Forex Trade Alerts Season 17 by redsox11: 7:34pm On Jul 28, 2017*

Pipsbasketings:
The beauty of pipsbasketing

Great Job you're doing.

AUDNZD -holding it.

Ps: Still waiting for comments on Myfxbook, before I reveal it.

Business › Re: Forex Trade Alerts Season 17 by redsox11: 7:16pm On Jul 28, 2017*

One of my accounts, attached to Myfxbook. Guys what do you think?

I'm going to share a secret in my next post. Guys have to be me smart and learn to ask the right questions.

Ps: Open your eyes, what do you see? don't get carried away.

2 Likes

Business › Re: Forex Trade Alerts Season 17 by redsox11: 7:52pm On Jul 27, 2017

EURAUD -10 fail trade
CADJPY +65 pips, I'm going to hold. Hindsight on daily and the few hourly pins that showed up.

Business › Re: Forex Trade Alerts Season 17 by redsox11: 2:37pm On Jul 26, 2017

Good read from Fezmar

As I stated earlier, in a very small nutshell I simply take advantage of large risk to reward ratios. The main reason I began trading like this (apart from the insane profitability) was the fact that I hated the pressure of needing a high win rate. I mean I despised it. I just could not predict the market accurately enough to make decent money from it.

Now, I first began trading from a $3,000 account. You've seen my balance currently from the first post. Once again

My success to date has come from under 20 trades.

Ah, Fez has gone crazy. What is he talking about?

Let me ask a question that may open your eyes. Did I take only 20 trades?

If I answered yes to this, then I really have lost my mind. Of course not. I have perhaps taken around 300+ trades. I'm simply saying that of those, under 20 were successful.

Where does that put me in terms of the classic win rate? Under 7%. That's right, I consistently take consecutive losers and breakeven without batting an eyelid.

I have always been an ambitious person. I grew up in a poor home and for me the 10% a month gain simply wasn't enough. Call that greed if you will, I like to think I had high aspirations. I think one of the main things that assisted my success was the fact that I didn't spend time on any forums, or even speaking to other traders. I first met another trader only when my account was already nearly at six digits.

Perhaps you will call this luck. That may well be. As I said, I'm not saying this will work for you. I'm simply sharing with you what worked for me.

These days I could never achieve those kind of % returns, simply because I am risking only 0.5% per trade now. However, with a 1:40 (For example) risk:reward, that's still a 20% gain. I'll leave you to calculate how much that is. Once again, am I achieving 20% gain per trade? Of course not!

When I initially began, I was risking 3% per trade. My palms begin sweating to even think about risking that kind of percentage now. And let me tell you, I was up to around 50k and was still risking 3% per trade, until it sunk in that I was putting $1,500 on the line every time. That is when I began to reduce my risk. Would I recommend you risk something like 3%? No. There is a high risk of blowing out your account like this. At 0.5% now

Why might this method not be suited to you? Two main reasons.

1) You can't stand to be wrong. Me, I'm the opposite. I love having the freedom of being able to make many mistakes. I actually enter a trade expecting to lose, and am very surprised if it's actually a winner. It's just in my nature. I'm very comfortable taking many losses knowing that once the Tsunami comes i'll be taking home a very lucrative paycheck.

Many people in the past have told me how I'd be more profitable if I simply set a smaller target and won more of my trades. Perhaps they are right. I'm not interested though. I'm comfortable with this method, and I'm making more money than I possibly need.

2) The drawdown. This bit got very ugly. In fact when I first started, my $3,000 was down to $600 before I made my first win. That requires some real nerves. What was my balance when I won my first trade? $6,600. I over doubled my initial starting balance with a single win. My second trade brought me up to $11,400 or thereabouts. My 3rd win was my most memorable. I managed to turn my account into $25,000 with one win. I couldn't sleep for several nights.

Those are the two reasons why this may not appeal to you. And it's perfectly reasonable that it doesn't.

2 Likes

Business › Re: Forex Trade Alerts Season 17 by redsox11: 12:25pm On Jul 26, 2017

If you're mistakenly banned by bot... you should message the moderators to lift the ban.
For those who don't know.

1 Like

Business › Re: Forex Trade Alerts Season 17 by redsox11: 12:18pm On Jul 26, 2017

GBPUSD

Business › Re: Forex Trade Alerts Season 17 by redsox11: 11:58am On Jul 26, 2017

GJ -12 pips
Still have GU buy i'm holding.

Business › Re: Forex Trade Alerts Season 17 by redsox11: 10:44am On Jul 26, 2017

Got taken out at breakeven on AUDCAD, missed the re-entry and miss the GJ top too sad

as I wasn't at the PC.
Good thing about being away from the PC is that, you also get to miss some bad trades.

GJ with 12 SL, open target. If it doesn't break down fast (as it's finding it hard to break today's low), I'm going to set to breakeven.

Dull week so far for me.

Business › Re: Forex Trade Alerts Season 17 by redsox11: 10:37am On Jul 26, 2017

Bolutumiii:
Fx pro in the house, pls hw do one know the right time to get out of a trade, Cus sometimes I take a thousand, a thousand nd half, close to two thousand green Pips nd the trade later go against me simply because I don't know when to get out / take my profit nd close my trade

Experiment and see what works best for you.

1 Like

Business › Re: Forex Trade Alerts Season 17 by redsox11: 7:10pm On Jul 24, 2017

9ja4u:
Are you refering to Symparty.... I have being in contact with him , he said i should go through a PDF file of CJ compiled post, i am yet to finish it, according to him he has done it more than 5 times. He once was posting here and was eager to pass some of his knowledge, but most people thought it was DEMO. So he stopped.

For real? ego problems and all. A great chance that was missed then. He lives in Lagos, you should try get a hold of him, first read all the pdf and learn to count your levels right.

What CJ does is mind blowing and people here would not even believe it's remotely possible, including me until I start learning more about it.

Business › Re: Forex Trade Alerts Season 17 by redsox11: 7:03pm On Jul 24, 2017

Was trying to use weekly hindsight to enter sell and rake in 100s of pips but can't stomach big SL.
CHFJPY -20 pips.

1 Like

Business › Re: Forex Trade Alerts Season 17 by redsox11: 6:53pm On Jul 24, 2017

redsox11:
I'm looking to short AUDCAD, if price go back to today's high. I'll short it with 10 pips SL. Hindsight from daily TF.

AUDCAD currently at +40. I'd have love an entry at today's high as I think that would have a greater chance to survive a retrace.

Still holding on to GBPJPY at +100

Business › Re: Forex Trade Alerts Season 17 by redsox11: 4:03pm On Jul 24, 2017

Fxmanager:
We have our myfxbook track record of our public trading journal in our signature for those who might be interested to track our performance.[/b]

Very good, as it's just a month old history, and a month data is not enough to judge performance. Wait till another 2 month.
Good luck until then.

Cheers.

Business › Re: Forex Trade Alerts Season 17 by redsox11: 12:12pm On Jul 24, 2017

Fxmanager:
Our dream was not to be signal providers but to be hedge fund managers in this business, so I believe setting up a small fund management services

https://www.nairaland.com/3901897/currency-trading-journal-target-avg

I simply don't understand why go through all the stress. You mentioned hedge fund but you are looking for $50 investment?? I don't actually think you are fraud BUT I think you shouldn't be trading people's account. Looks to me you don't know what you are doing. Prove me wrong.

If I wanted to do what you do, a lot of platforms (MT4 Brokers) allow you to register as fund manager with them and allow others to copy your trades and pay you certain % from the profit you make for others. I know this 'coz global prime and others have the same services. With 3-6 months account history.

First you should continue to trade and build some account history, set up myfxbook, get a professional website set up also.
But until then, you can get your close friends and family to invest in you but not the public.

2 Likes

Business › Re: Forex Trade Alerts Season 17 by redsox11: 11:53am On Jul 24, 2017

currentprice:
bro, atleast with treasury bills 18% sure interest on my capital. i will even be paid upfront interest follow with my sure capital at maturity date

one bad forex call can dent account beyond recoverable

if am a newbies and forex trading day hungry me . i will first invest my capital in treasury bills collect upfront interest and invest it on forex. it a win-win situation as my capital remain intact at maturity date

Couldn't argue with that.

I'm looking to short AUDCAD, if price go back to today's high. I'll short it with 10 pips SL. Hindsight from daily TF.

Business › Re: Forex Trade Alerts Season 17 by redsox11: 8:35am On Jul 24, 2017*

Closed all GCHF +380 pips
Still have last leg running on GJ.

Scanning for new week opportunities. Looking at cross pairs.

Business › Re: Forex Trade Alerts Season 17 by redsox11: 8:31am On Jul 24, 2017

currentprice:
Instead of your average 5% monthly in dis risky business. I will rather invest my money on treasury bill which is risk free and sleep with both eyes close

Sir but treasury bill will not make you 5% every month, hence people look into high risk forex trading.

Business › Re: Forex Trade Alerts Season 17 by redsox11: 8:28am On Jul 24, 2017

Fxmanager:
Visit the link below. You might be interested in what we offer. We promise a target of average 5%+ monthly profit on your investment. Funds in a secured licensed and regulated financial firm

https://www.nairaland.com/3901897/currency-trading-journal-target-avg

You don't need investor as much here, what you should do is attach your account to Zulutrade and other services, people will notice your performance and follow you by coping your trade and you'll make money by making people money.

The problem is if you don't have the performance or just simply fake trying to lure newbies, you won't be able to join those services, 'coz you'll be exposed for the fraud you are.

Don't get me wrong, I'm not saying you are fake or fraud. Just pointing you to the right direction. Let you performance speak for you. And do you know the good thing?? You don't even need live account "though it's better" to do that, you can with a demo account with history.

Quit with multiple demos , you need only one to get going. Good luck.

Business › Re: Forex Trade Alerts Season 17 by redsox11: 9:27pm On Jul 23, 2017

GBPCHF.

With little stacking going on, almost +300 pips

Risking about $5 to make $50 on each trade. And can't say I see the light switched on already compare to some that I know, phew !!

Business › Re: Forex Trade Alerts Season 17 by redsox11: 6:33pm On Jul 23, 2017

wickyyolo:
This shii is falling until 142.300

redsox11:
Got in those too I'll post charts later.

Hourly and 15mins view. GBPJPY

Beautiful sell off +300 pips. I closed 2 positions later that day and left one running.
First entry was 11 pips SL, the spike was coming close to it before the turn around.

1 Like

Business › Re: Forex Trade Alerts Season 17 by redsox11: 11:35am On Jul 23, 2017

9ja4u:
How did you figure out The Captains Chest - Naked Trading style of trade.......

CJ is definitely on another level “ Beginning with $ 4,000 deposit, hitting $ 32,000 in deposit, in a month and a half”. YOU shouldn’t try to replicate what he does. You can adapt his work to fit your style but definitely not on his level.

But there is a Nigerian guy living in Lagos almost close, he is doing very good for himself. I’ll try get a hold of him when I’m in the country.

Example;

3% SL risk of 15 pips, on $ 1000 account … my size is 0.2 lot
3% SL risk of 100 pips, on $ 1000 account … my size is 0.03 lot

Let's say this transaction goes to: TP 100 pips.

The first part of the transaction gives me 0.2 x 100 = $ 200 the
second part is 0.03 x 100 = $ 30.

I risk the same amount for both transactions 3% ( which is $30 ), but look at the results. For a large SL I get a low RR.

That being said, I know there’s more than one way to skin a cat. $1 or $5 , profit is profit.

1 Like

Business › Re: Forex Trade Alerts Season 17 by redsox11: 9:38pm On Jul 22, 2017

Rabbit Hole

I've got a lot in my toolbox . Things I have learnt over the years. Well, it matters not how long, but how well.

Business › Re: Forex Trade Alerts Season 17 by redsox11: 9:27pm On Jul 22, 2017

ABC / Head and shoulders.

Business › Re: Forex Trade Alerts Season 17 by redsox11: 9:23pm On Jul 22, 2017

Complex chart pattern, not for newbies at all... The unknown is "down the rabbit hole," . There is adventure, discovery... and you might also get lost in there if you don't know what you are looking for.

Business › Re: Forex Trade Alerts Season 17 by redsox11: 8:29pm On Jul 22, 2017

Pipsbasketings:
[color=#000099]I'm on GCAD, will add to my entry after 2hrs from now

Pipsbasketing if it's not too much work. I'd like if you could drag some of your profitable trades (in history tab ) on your charts and post it here. 1 or 2 loses but more of your profitable ones... It's strictly for learning purpose for me.

I love learning and I believe there is always room for improvement for me.

Cheers. [/color]

Business › Re: Forex Trade Alerts Season 17 by redsox11: 8:23pm On Jul 22, 2017

wickyyolo:
This shii is falling until 142.300

Got in those too

I'll post charts later.

1 Like

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