₦airaland Forum

priceaction:
wc site is this?

Darwinex.

wamiikechukwu:
Shevychen2

i once had an EA which i build using various ideas, it gives like 10-20% monthly depending on the market for that month and losses acquired.

I felt if i could add more logic i can increase its performance. I did and ruined everything too bad i couldn't return it back to its initial stage because i did so many changes to its source code that i forgot how it was before.

That was how i learnt that if it's not broken don't fix it.

Few months later i read that the great George soro makes approximately 29% annually for its hedge fund.

Can't blame you because normally you'd want to make a living out of your 3 to 5 digit accounts as fast as possible. If you can recreate that strategy somehow and show net profits for 3-6 months, you could be handling excellent 6 figures in 18 months.

Isn't it funny how people are making 100% in a week but still not anywhere near George Soros? Lmao.

wamiikechukwu:
Lol the Ea will blow your account in less than a month.

The best EAs are usually the ones with simplest and advanced logic and that is what most people can not think of.

People are chasing this forex thing by fire by force because they have little capital and need to make huge money. That EA is just a gambling EA. Take what it gives and keep withdrawing. If it crashes, fund again and start afresh.

However, I wonder why people have to through that stress. Go to many of the top ranked PAMM, MAM and similar services and you will find that the most backed traders make between 5-15% a month. Some of them don't make more than 50% a year yet they are controlling millions of dollars.

Instead of taking high profile risks and blowing lots of small to medium sized accounts in the process, wouldn't you rather focus on getting a consistently profitable strategy with small drawdowns, then sell your intellectual property on these platforms and get backed by lots of people looking for where to put money? When you know that making 7% profit in a month can put a lot of money in your account in terms of profit sharing, won't you be more relaxed about trading?

Below is a trader that is backed by investors. Take note of how many investors and amount he has been backed with, and then see his own capital. Then take a look at his monthly returns and think.

redsox11:
No comment.



Ps: What else do you need?

Nothing.

I employ a very similar strategy but using higher timeframes to judge trends. Fish for buys around support in an uptrend and fish for sells around resistance in a downtrend. I get fewer trade entries but higher quality.

hegelian:
anyone want a serious brokers should look into brokers with home based regulations (i mean with physical officies in these countries and not foreign companies with their regulations)from the UK,Australia and the US and i will recommend brokers like darwinex,LCG,LMax and Ducas,Atom8 (that is if you are really serious about trading and you take it very seriously without bothering yourself with silly rebates or promo.....with these brokers you can even negotiate a lower transaction cost if and when u become successful)...

Excellently said. I love Darwinex personally!

currentprice:

I just hope people can see what is going on here. Please before you use any broker, read reviews and understand every single line of their terms and conditions (at least the parts that concern you as a trader). The new broker being stylishly marketed in the last page or two has a VERY terrible reputation. If you burn yourself, don't come back here to cry.

redsox11:


Anyone care to add to the list?

1.If you don’t understand the maths behind account management, you will crash.

2.You must be ready to leave money on the table. If you want to get everything, you will lose the one you have. For example, if you are hell bent on getting 150 pips on a move because “that is the daily ADR”, you may go as high as 100 pips before crashing back down to zero.

3.Still on profit taking, a market based system of profit taking is more reasonable than fantasy. It is nice to have 1:10 R:Rs but it is fantasy if it is not price based. Where is the next support and resistance? What time of the day or week is it? For example. A day trader still hoping for a major move after UK session close is day dreaming.

4.The best forex strategies are mechanical. If you don’t have a set of rules you follow judiciously, you will allow subjectivity to creep in and you know how humans act especially when money is involved. Irrational and emotion based decisions.

5.Don’t fight to get a 100% success rate. Anything above 50% is good if you target 1:2 RR. If you keep changing your system with every loss, you will never grow.

^^Trying to predict the news and trading at release as a small retail trader will rarely work. In many cases, you will see the signs in the market where the release will go like the GBP this morning (comes with experience). You can join them and set SL. If you try to jump in after a release, you will get slippages. If you set hedged pending orders, both can be taken out and you will be in deep loss.

Personally, I simply trail profits towards high profile releases if I am taken out, I wait for the dust to settle and find where to enter into the new momentum.

drisi:
This is Forex trade Alerts. Please we newbies are anxiously waiting for the alerts . Thanks

I think Oga Redsox has done the right thing instead. Many traders have to take decisions quickly so trade calls may not be realistic. What he has shared is enough for anyone to fish for signals on their own.

Most of the traders here also don't do intraday but I stand corrected. For example personally I have only taken two trades this week, GA and AU early monday and holding them till I see otherwise. One of the bigger names on this thread I know is holding positions since last week of september! So you see, waiting for trade calls may not be realistic.

Still riding some of those I had before this week but keeping an eye on the numerous RED releases scheduled this week. Have moved most to BE/Profit and will see how it goes by end of the week.

Shevychen2:
The one UJ call I posted will be closed with -50 by end of the trading week.

Looking positive.. Going to hold it another week if the week closes bearish.

nennin:
i believe we are good to go

If it closes below 1260 then it could be a decent fall but that place the thing dey now for Daily Chart, my eyes dey only look for a buy right now.

UJ not falling this week means it might be headed much lower though (and UJ higher) but make we dey look. Advice: if you are selling, mark it tightly.

redsox11:

I hope people don't take trade calls and enter it into their live account. Someone could enter 5 trades, put 2 on here and those happen to be the bad ones. If you're going to follow someone's call, you better be sure you're entering all their calls/trades.

Lol. So true. The market has a way of playing pranks. The one UJ call I posted will be closed with -50 by end of the trading week. Meanwhile the week was decent for me with over 1K pips on other pairs.

Finally time to sell UJ. Been waiting since September lol. Selling at current price. SL at 115.00. Let's see how the next few days play put first.

mrikay:
YOu bad people have finally chased out Pipsbasketing from the forum... Someone who has something to offer.

Normal

They chased him away and they aren't posting anymore. Nigerians will never change.

redsox11:
Keep it coming , more people contributing , it's never a bad thing.


Load and ready my sub account for the challenge, remember I only need $100 for the challenge, I deposit more coz I can
So I have $100 x3 for the challenge, let's hope I don't go far down lol.
Anybody want to help create excel for the challange, lotsize ??

I'm doing this with a friend but he's not on Nairaland.

Hi, been analysing this. Definitely worth a punt for anyone that can afford it. Here is the excel sheet. Just input your desired figures in the right fields. I hope it helps.

Pipsbasketings:
OK, all my trades, calls and pictures were edited. My account is fake.

Can the thread move on?

The thread will move on when people learn to ignore nonsense as soon as they see it.

Everyone that has been here long enough knows the trader in question. All these years and he is still doing the exact same thing

No one is a kid here. We know the end game. Mentioning Odiaero as an example is funny because he provided Investor passwords and Myfxbook/forexfactory links and still defrauded people.

Person wey no get sense no get sense so using "protecting newbies" as excuse for the usual "tear him down" approach on this thread once someone seems to be doing good is just funny.

Like I said. No be today

Pipsbasketings:
Alright sir

Who chooses the right way? what is the right way? what makes it the right way? any rule for that?
Meanwhile, I have posted my link here several times before now. I am adult enough to choose to do what I want with my life and not what you want.

My last reply for you

Ignore the bullshit my man. Do your thing. You haven't asked anyone to bring money for you to manage. Only then should someone ask you about verification whatever. In fact, you may even have to give out investor password at that point. There is nothing wrong with what you are doing. I am even surprised it even took this long for someone to log into their other account to come up with this angle. No be today

We all have different reasons for showing off trades. It's no one's business what yours is as long as you are not asking anyone to give you money. If anyone contacts someone to trade for them or to buy indicator without asking for verifiable proofs then that's their business.

It's always funny when I see people looking for Pibsbasketting's exact entry and exit style. He won't give it away because like most successful traders, it must have taken him years of pain to strike gold finally. All you will get are pointers and he has done that very well. So, if you study his entries long enough, you might begin to put one and one together.

However, if you already have a good strategy that can sniff out trend changes early enough (and there are lots of them on the web!), what you need to learn from Pibsbasketting is how to take trades on higher timeframes, stay patient and manage your account properly. I am yet to see any convincing argument against it. Before Pibsbasketting, Boss Capitals was the one posting regular entries taken from higher charts that he holds for weeks at a time. Myself I only look at the hourly charts when I am bored. All trading decisions (including those attached) are based on daily and weekly.

So if you don't learn anything from Pibsbasketting, learn that patience and ignoring the noise in the market is key to survival. For example, the NFP is coming, do you think Pibsbasketting will be bothered? LOL.

bigbasho:
Mehn! You just ginger me.

That's the point bro! We can all do this. Just patience.

Capitals:
Nice one!

Boss! Longest time. Well done sir.

priceaction:
I love this. Thanks bro. Do you trade on daily chart?

Yes daily. Unless I miss a move and I have to go down to the hourly to hunt for entry.

priceaction:
We will keep encourage ourselves until we get to a place where a single trade will give us over 10k in return.

It's only a matter of time bro. Just keep doing the right things and stay patient. At that time, you will feel extremely relaxed about this business and won't want to listen to anything or anyone again.

When you can make "just" 13% a week but be very happy still.

nennin:
gurus in the house, pls i have one solid question, but it may be irrelevent to you. here is it, is there any system/strategy for spotting a long price movement from 50pips,100,200,300,500 etc.?

Any decent strategy you use on smaller timeframes can be used on 4HR, Daily and Weekly to gain such pips. Many people agree that it is the more relaxing way to trade. Enter one trade and get 500+ pips after holding for 3 weeks OR taking 30 trades to amass a net profit of 500 pips in the same period, I know which one is more stressful for me.

See the GJ chart I am on.

Whatever strategy you have that you are trading on the lower time frames, take it to the higher charts, get your position sizing right and you can start getting those pip amounts you mentioned.

My last post on PAMM looks like it got the interest of many people as I can see PM requests. Please, I won't respond. I can't be bothered to look for the login of this nairaland email address and besides ANY question you have can be answered with a quick Google search. PAMM is very popular and some of the brokers we use have such offers. Look around.

Shevychen2:
Meanwhile, UJ and Gold are in delicate positions now. Strong reversals could be in the works in the coming days unless we see new multi-month lows and highs respectively.

Combine 350+ pips on these alone since I posted the above. I expect them to do another combined 1000+ pips more over the remaining days of this month but ready to take whatever..

Always funny when I see people looking for trading funds when there are arabs and asians all over the place looking for where to put money. If you have a decent trading system, open a PAMM or trady copy account on any of the popular platforms. Even Metatrader has such a feature but PAMM brings more money for the trader.

With one year of CONSISTENT success you will grow your account to strong 5 figure dollar sums guaranteed, even if you opened the account with $300. Do it for 18-24 months and quit and start trading your healthy jumbo account for yourself. These people are delighted to see even 20% steady growth monthly. Some of the "pros" that come here to market claim to make 100% and more.. Makes you wonder

The problem is that most people don't have belief in their system or have never had 6 months consistent success with it yet they will be looking for who to burn their money and who to learn with their money.

I mentioned this a while ago and some people listened. Now they have built their accounts without even collecting money from anyone directly or risking someone coming to embarrass them for crashing their accounts. Everything is done anonymously (mostly) so why not take the chance?

Meanwhile, UJ and Gold are in delicate positions now. Strong reversals could be in the works in the coming days unless we see new multi-month lows and highs respectively.

wamiikechukwu:
will USDCHF meet support at that blue zone? will the support hold? how long will it hold?

Pull up your daily chart and see where the rejection/reversal happened. I expect it to get to 0.94xx in the coming days.

Nigerians are so so so stupid. Every single good thing that comes they will want to use their bad belle to tear it down. I dey read this thread since to see the person they scammed.. I no see anyone. Please who did they scam? If the amount of words they are asking people to do is the scam, then those of you saying it are stupid. Some of you slave away as teachers or bank tellers for less than 60k a month. So if you no fit do the work, you go dey scream scam? Nawa o.

I sure say na people wey no pass the test or some wey no want competition for the position dey discourage others.

Capitals:
Same sentiments on UsdJpy & nzdjpy, took some off alreadyon uj

I will always bow for you and your freakish pinpoint entries with magnificent R:Rs. Drawdown must be firmly in the single digit territory. Well done boss!

[quote author=Capitals post=56635630][/quote]Chairman! I dey hail o. Just dey for corner dey manage ourselves.


@Thread.. Been an OK month for the EUR but think JPY is going to take the crown from it. Won't bet against the large scale slide continuing into next week and possibly beyond. I hope so anyways as I am heavy on it!

wamiikechukwu:
help, any one.

I think Forexfactory is the best place to get a solution for this. Lot's of threads dedicated to it.

JAkpayen:
CAD will be the best performer currency for this week

CHF and EUR dusting it so far in my books.

redcliff:
Someone please shed more light on this

Your broker terms and conditions clearly states that they will only close and open positions at the NEXT possible price following market movements. So if the market closed at a particular point on a friday and opens 350+ pips away (like my EJ trade below), your stop loss or take profit will only be closed at that new price regardless of what you set (unless your SL and TP were more than the gap of course). If you want to trade gaps, cut down your position size, open a position in your desired direction and be willing to take as much as 10% hit on your balance. Hedging doesn't even work because the pending orders Limit or Stop orders won't get filled if the gap happened away from the price you set, because market wasn't active at the time price passed your pending orders. Simultaneous market price buy and sell doesnt work too as the loss from one side will cancel the gain on the other.

Just passing.