₦airaland Forum

infofirst:
I hope @samfelly will take his time to go over it again. You simply summarized a profitable strategy thats simple and straightforward in my opinion and based on my experience.
Thank you

Geovanni412:
Boss, where u take loss for the matter?

Yeah, bosses, I'll go over it, again, with a very clear and open mind, also. Na market dey cause am

Geovanni412:
Boss, if you're still starting out, just focus on what I posted earlier.

Market teaches us things every day

Anyway, I believe you'll save a lot of time and blown money by focusing on that simple system even if you don't know anything about trading

Steps:
- Trade only one or two pairs, preferably eurusd and usdchf. These pairs are friendly to holding key support n resistance levels. You can also look at eurgbp as well
- Identify the last bar on the month in any of these pairs
- set alarm 100 pips above and below the highs and lows of that bar
- when it hits that Zone....it could take up to two weeks to get there, wait one more day for a pinbar to form
- if you have no strategy, look at the daily chart and place limit orders at the high and low of the nearest bar then go to sleep
- if you have a strategy, that would be the best time to apply it

On how to use pinbar and outside bar
- That question is dependent on the type of trader the person is.
- If, however, you are a set-and forget type of trader/swing trader, better if you wait at that key zone I pointed out
- there are a number of options or ways it could play out. I will give an example with mathematical areas. There is a second scenario which can play out, that is wherein it is a flag and continuation of downtrend, third scenario is it is a flag to the next zone then a big retracement could follow.

- Scenario 1 is the most common, scenario 2&3 may occur once in 4 or 6 months if you are trading a pair like eurusd, eurgbp or usdchf. The situation may be different for other pairs. I don't actively trade any other pair other than eurusd of usdchf.

Example (scenario 1),
Mathematical areas....

Common trading knowledge is that you should expect a retest of an area if market goes to 50- 100% movement away from the range of the area. (If you have fib numbers, you can punch in the key figures, I do calc manually using ATR )

If range of area is 0.940 to 0.920, it is normal to expect mkt to react at 0.910 which is half of that range. This is what happened in the picture below on USDCHF.

Also, if you checked last bar of December 2022, the low on usdchf was 0.920

1 Atr away from this is about 100 pips which is around 0.910 which also happens to be the same area of 0.5 of initial range. Waiting two days, you'd notice that a pinbar has formed.

You should only take a trade if you have at least two reasons to do so. Sometimes, three reasons is better.

In this circumstance, there are two reasons to buy. Market is forming a double bottom at a key zone and the rule of 3...

Rule of 3 states that Market tends to react in the adverse direction after 3 -7 bars. https://www.moneyshow.com/articles/daytraders-28139/the-rule-of-3-5-and-7-in-trading/

It sounds stupid but if you look at the chart, you'll notice the same game playing out every single week...it is the major game at play behind stop hunting.

zedegit:
Some of the fails were due to their no news trading policy. Beware of prop firms that don't allow news.

Immortal99:
@samfelly @ boss infofirst ... et..al

Abeg who know trusted Fiverr exchanger ... I wan withdraw my $10 ...as e de hot...

Mak una no vex

No idea, boss. But, leave the money. N1,200 still dey come

Donsheddy:
WEEK 5....

Working with the plan we increase the lot size and risk a a bit so we using 1 lot this week....

Gbpusd was sold this morning

Yetown is also good at this. Boss, show me a plan to scale a $500 (3 phase) account

Davigle:
I don't know why it's so hard to post charts on nairaland. Pls how do guys do it...

charly20:
Make you sha learn to chest am, my boss.

Win/loss no suppose dey evoke any emotion at all

karkinase:
I can’t swing trade mehn .. don’t have that mental capacity buh I like scalping swings or intraday swinging. I hate to see blue turn red.

karkinase:
You really dey Onkoloos

BrightFuture48:
Crazy stats! Enjoy the weekend colleagues.

dottozil:
I believe the high lot m using is affecting my trades , but as a swing trader I think that's what I have to do to hit the target still trying to bounce back though.

Jameselias:
do share update if you get to withdrawal so we know if they are paying

csckid:
ok cool...na bank card you use take pay...I wan use my uba Visa card run am...$4.25 in total with the current 15% discount

Emmizay12:
Pic 1:press and hold the price scale
pic 2: click on invert

Geovanni412:
Nothing to worry about, Chief

Many times you'll try to sell and market goes a bit higher

My two cents:

Solution is to limit the number of pairs you trade to one or two

You'll understand better when to sell

Example:
Picking a sell on usdchf will be much easier than finding a sell on usdjpy because usdchf ranges more often than usdjpy.

Also, usdchf does not tend to overshoot key support/resistance zones without reacting.

By limiting the number of pairs you are trading, you can more effectively back test your sell strategy till you know what works.

GarkiAccessory:
Process can only be set up On laptop (PC)

Thereafter you can then monitor on smartphones

FX Blue Publisher EA for MT5 user guide

How to set up the FX Blue publisher for MT5

The FX Blue publisher consists of an EA which you need to add to any chart in MT5. The full installation instructions are as follows.

1. Run the setup program contained in the download from the website.

2. Choose which copies of MT5 to install the EA into, and click on "Install"

3. If MT5 is already running, restart MT5 (so that the new EA is included in the Navigator list).

4. Turn on the "Allow WebRequest" setting.

5. Open a new chart for any symbol.

6. Attach "FX Blue - Publisher" to the new chart (e.g. by double-clicking it in the Navigator list).

A single copy of the EA will publish all trades in MT5. You do not need to add the EA to a chart for each symbol which you trade.

Turn on the "Allow WebRequest" setting


You need to turn on the "Allow WebRequest" setting, giving the EA permission to send data to FX Blue.

Choose Tools > Options from the MT5 menu
Go to the Expert Advisors tab
Turn on "Allow WebRequest"
Add https://publisher.fxblue.com to the list of URLs
The settings should look like the highlighted area in the following screenshot:

Pic 1:

Fill in your username and password

You need to fill in your FX Blue username and password on the "Inputs" tab of the EA's settings:
Pic 2:


Example of successful publication

Publication will start as soon as the EA is added to the chart.

The EA takes over the whole chart which you add it to, creating a blue background and display status information in the top left corner of the chart:

Pic 3:


Source: https://www.fxblue.com/appstore/u15/mt5-publisher/user-guide

Emmizay12:
Lol bro I remember complaining this thing to myself back then
omo once I see buy setup, I Execute ASAP
but sell setup, I will start scratching head

what I did to solve it was to use the invert chart feature on tradingview

once it looks like a setup I will take if it were a buy, I execute

as time goes on you will stop using it

csckid:
abeg who don try ryze.trading prop firm and cashout ?

Proudpolygamist:
To blow account don dey hungry this one😂😂😂😁😁😁

abham:
Sam, I’m so happy for your improvement.👏🏾👏🏾👏🏾

friendbee:
I dey follow you the boss, I have move from 6% to 10% ( a double digit I projected for the week), I am looking at getting 15-17% in the coming week.

Achemz:
Oga infofirst, Abeg me na fundednext I dey on like this presently on 5%. Abeg sir show love reach how side

Let us know, you don blow TFT, abi?

Fibonacci88:
Na ur 10% be my aim o. That 20% wey tft put will make me a gambler am trying to work on my discipline I don't want to ressurect gambling tendencies. Am happy that learning the habit of patience and discipline is paying off. I am in stage two of a 5k acc with another firm. If I finally get funded na my atm machine be dat. Now that dollar is over N900 if I see 4% in a month am very ok.

GarkiAccessory:
Congratulations Boss

But there is an alternative method of updating on fxblue I shared here last week, to my amazement no one seemed interested, infact I had to delete the entire post I shared thinking I was doing a wrong thing.

infofirst:
It was a challenging week with my tft competition earlier in the week. Us30 swallowed 3.5% high lot in gu swallowed another 2.5%

Fortunately moved from 6% last Friday to 11.5% today.
No DD hit yet.

If you hope to get 10%+ price from me, try and be updating us here since fxblue is not helping. So we have an idea of what's going on.

samfelly:
Me too no go dey far behind this time. I go employ the little I have gleaned from ICT for this August. About time I brought back the former me

Achemz:
Sometimes I feel like dropping some piece of my mind here but you see you've to walk your talk. For a demo baller like me there's no evidence. But let me drop this quickly.

I can guarantee you that in this forex thing, the best way to survive is putting your risk very very low. Two times, I've tried the 14 days Prop firm free trial for 10k. I capped my daily loss to 0.5%. it helped I never violated the account despite having a 48% win rate. In both I came out with 3% and 2.5% gain against the 5%.

Throughout the exercise, I was comfortable with my losses. And on days I disobeyed my rules my loss was never above 1%. I believe this helps mentally.

One thing that burns account fast I observed is revenge trading. It never ends well.

Faithhill2:
Thank you but I was thinking they only give free accounts to the highest in the competition.

amabengroup2

Arcmida:
I could write a whole epistle about this; you will calm down after you realise your impatience has cost you your life savings, your dignity, your potency as a man, and to get it your dignity back you have to tame that ego and submit to being patient.

What comes together so that you can be patient

1. Skill: if you have mastered your system and strategy- you only trade when you have a setup. You only trade with predetermined risk and tps.

2. Experience: you have to befriend loosing money. I believe if sb loses money for a whole year and he experiences pain. He will seek to get rid of that pain and thus follow the plan to reduce or eliminate losses altogether. Experience based on trading. You get more confident knowing there is nothing new under the trading ticker- you just chill and execute.

...this is true for me, and I hope it answers your question

meshpips:
Whatever I am doing here is for the advancement of this industry.

Or do you guys think that I am clamouring for someone to come and spoon-feed me? What I am doing here in making this call to successful prop firm traders should look the way of educating others so that more people can become successful like they are.

My thoughts and intents might be mis-judged today but in the process of time, many people will see that I meant well for them.

PIPSMARSHALL:
Only people who have failures from other career will chose trading as a easy way to making it. Society worships money, if I bag 1M usd in d bank, dem go bow. There are different means to get this mulla, some do yahoo, doctors, coding...I choose trading.

You cannot have 1st class nd choose fx. Opportunities go open else where for u.

I cannot have a well paying job and choose fx, unto say wetin? A loss of a job means I don't feed.
I cannot be a doctor, nurse or account or engineer and choose fx? A loss to a doctor could mean someone's life. Or fraud to d accountant or collapse to the engineer.

A loss to a trader is just funds. You see its easy. And the time spent is totally different in all careers.

The stats are there, but the determination and will to succeed is all I need. But as man don fail for other industries or career, failing in trading should not be that huge once the risks involved is accepted by the trader.
You are right, many are called few are chosen. Those few have a different mindset to the game. 80%/20% rule. 20% eat 80% of the food while 80% struggle for 20% food share.

When you have gained knowledge, choose not to be disobedient. Na wetin kill Adam and eve in d garden of Eden. That's what's killing many traders too. If u obey ur strategy and rules, its easy.
But u see temptation and trials we all face it and that one ehn, even the best trader in d world using vap strategy is tempted.

GabsonFX2:
Dedication bro, years and years of unlearning, learning, and relearning....Persistence

Started with zero knowledge in 2005
became more serious 2012
became much more serious 2016
and started becoming profitable 2018.
Prop firm came in in the early days and FTMO changed my life from 2021

Such is my journey