₦airaland Forum

HushNews:
Chelsea plotting to stage a WW3

Las las, Chelsea vs Lille.
O ya, go hug transformer

Donvic4u:
After two failed attempts..


Finally we are here...

Thank God!!!!!!!!

We have moved!!!!!!

Wow! Congratulations, boss!
You are a champion. I cherish your doggedness.
More wins ahead sir.

Still a humble learner.

successsam121:
Enjoying EUR/GBP and XAG/USD rides
Stop loss moved to today's daily low and high respectively.
May reenter EG buy trade again if this bullish engulfing candle closes strong today. EU, how far? Will the € be strong against $ after this month's NFP report?
Abi wetin I know sef?

Still a humble learner.

XAG/USD closed manually, can't wait to reach d set TP. Who knows what next market open will come up with.
EG is been exploding. Holding EG open over the weekend.
ECad on its way up. I expect UJ to continue its down move till next week and beyond as the poor NFP report suggests.
Abi wetin I know sef?

Still a humble learner.

XAG/USD Closed

Firefox01:
This your "Abi wetin I know sef? Still a humble learner" doesn't show humility I hope you know? It reeks of unnecessary attention seeking.

Doesn't show humility, to who?
Attention from who?
Bros, if you don't gerrit, then forgerrit.

Still a humble learner.

Enjoying EUR/GBP and XAG/USD rides
Stop loss moved to today's daily low and high respectively.
May reenter EG buy trade again if this bullish engulfing candle closes strong today. EU, how far? Will the € be strong against $ after this month's NFP report?
Abi wetin I know sef?

Still a humble learner.

djwalata:
USD data wasn't good fundamentally but d reverse is d case on d chart.
Hmmmmm, forexxxxxx!
NFPR doesn't reflect its implications on chart nowadays as it usually did in years back.

Hnm...you don't see the effect of US (NFP) data immediately these days but technically in coming days/weeks. Watch out!
Abi wetin I know sef?

Still a humble learner

Englishisamust:
No I'm talking about Dt

Oh sorry, didn't know u talking about DT4x.
I think its owned and managed by a person who is also a trader as its motto suggests. The One time fee for the lowest capital is high but if u can risk such amount, you may take a shot. I have not heard much about it's paying from much traders sha.

Still a humble learner.

Englishisamust:
Gasbonfx, what is your take on this??

I think fx choice is a forex broker. Are they also prop trading firm? Pls more info about that.

Still a humble learner.

Trade updates

Remember this XAG/USD sell trade call? Still want to ride it
down to TP 21.90 (about 40 pips to go) but SL shifted to 23.00
EG, especially EU and ECAD still dragging but I hope they will move and shake body. Hope?
Abi wetin I know sef?

Still a humble learner

GabsonFX:
Dec/Jan: not different from others, wishing you success in your journey with MFF

Exactly!

successsam121:
XAG/USD doing well
Dropped 50 pips so far
About 70 pips to go

If EU closes above 1.1330/35 and EG above 0.8500 tomorrow or later this week, possible upward movement in December.
Abi wetin I know sef?

Still a humble learner.

Buying EU and EG if the current 4hr candles close bullish above 1.1330 and 0.8495 respectively.

GCAD and ECAD on the run to the north. Buy Pending orders activated
Abi wetin I know sef?

Still a humble learner.

successsam121:
If you are a fan of XAG/USD, selling off this metal for 1:2 RR may not be a bad idea now.
Abi wetin I know sef?

Still a humble learner.

XAG/USD doing well
Dropped 50 pips so far
About 70 pips to go

If EU closes above 1.1330/35 and EG above 1.8500 tomorrow or later this week, possible upward movement in December.
Abi wetin I know sef?

Still a humble learner.

zonall:
....let us shake the table small....

.....are Supply & Demand Zones AND Support & Resistance Zones fixed or dynamic? Do they even exist?

...please let us discuss small nah....we might learn a thing or two from each other.

.....@GabsonFX @infofirst @femora007 @Donsheddy @Donvic4u @fame12k @Immortal99 @elliotwaveforec @MONEY247 @Gasive @Piptocoin @BrightFuture48 @Fxwarrior @ncpat @samfelly @Kaesyrn @GreatestManEver @Romklef @Succhris @yetown @Ogashman @Nuel101 @haryodehjia @theyoungmaster @ekesoft @successsam121 @Copyjoe @charly20 @jammer777 @abham @Tony142 @klinksd @Brooktrader @boom99

@everyothertraderhere....

The Difference Between Supply & Demand and Support & Resistance is that supply and demand are fresh levels or zones that a price has not been determined yet. Therefore, these levels are valid to trade. One of my bosses here used to indicate a sort of Magic box on his chart where price is likely to change direction

Support and resistance are levels or lines in which the price was already determined and changed a few times.
Support – Area on your chart with potential buying pressure.
Resistance – Area on your chart with potential selling pressure. Therefore Support and Resistance are areas on your chart (and not lines)
Support and Resistance can be dynamic
What you will learn as a newbie is horizontal SR (where the areas are fixed). But it can also change over time, otherwise known as, Dynamic Support and Resistance.
There are two ways to identify Dynamic SR.
You can use: Moving average and Trend line.

Please don't mind the rubbish I typed above.

Do they (SD & SR) even exist)? Or is it not what we were taught or read online when we were starting off with fx?
how will I even know when my bosses already said they don't exist?
But in my mind, if I were to be sincere with you, pivot point SR levels and Price action on higher tf are 5 & 6.
Abi wetin I know sef?

Still a humble learner.

If you are a fan of XAG/USD, selling off this metal for 1:2 RR may not be a bad idea now.
Abi wetin I know sef?

Still a humble learner.

GabsonFX:
I promised myself to stop trading this managed account until withdrawal, Dec 6, but gold keeps entering my eye ...Profits now @ US$9,072.43 for a 92.83% win rate.

Now, I have deleted the login and uninstalled MT4 - No more temptation to trade until then

I'm taking one trade per day on TCF, $200K challenge (just a quick enter & exit) only to make the remaining 5days for the 10 minimum trading days). By next week Thursday, I will make the minimum 10days and will be moved to the verification stage hopefully Friday, Dec 3rd.

I quit my job last week on 18th Nov on only 10mins notice, when you realize the workplace bosses giving you shit don't even earn reach wetin u get from fx. They requested to book my return ticket and taxis back home since they took care of that on my joining date, I replied that they should not mind, that I would book it by myself for myself. Booked flight and taxi that same day and left....Maybe, from January, I can return to my full gold analysis on FTA.

You can not be rich working for someone. Be the boss of your own.

I am happy for you for that great achievement.
Financial independence is the main objective of many struggling forex traders including myself.
I wish to be like you when I grow up, boss.
Enjoy!

Still a humble learner.

Piptocoin:
[color=indigo]There has been some argument and observation on forexfactory regarding DT4X prop trading firm. Initially, according to the guy who experimented by trading with them, they paid but since then he has abandoned them. The general consensus on the thread is that MFF and FTMO remain the only two reliable prop firms for now.

If you want to try them out just be careful and go in with their lowest offer to test the waters.[/color]

Yeah, the Basic account is the minimum and it carries $10k funds for $275 OTF (One-Time Fee). Just can't afford to lose that sub fee if they don't pay eventually.
As regards FTMO and MFF, they do not allow open trades over the weekend. Over 70% of my trades (in fact the winning ones) are open over the weekend, I can hold trades for days/weeks until either SL or target is hit. So one can say I am a swing/position trader. That's why I am in need of a trusted prop trading firm that allows open trades over the weekend.

Thanks boss.

Still a humble learner.

I wouldn't know if I am ready to take on this prop trading firm. In line with my trading style/strategy, the only suitable prop trading firm I could find so far is DT4x (dt4xtrader .com). Though their minimum fee on the basic account is high (may be for my current financial status sha) but the profit share is 60%.

I opened 2 practice accounts with their brokers and I have hit above their 10% growth target on each account in just 2 weeks, absolute and max drawdown is 0.00%.
@Gabson and other big bosses in the house, pls help me study this prop trading firm and what do u think?
Abi wetin I know sef?

Still a humble learner.

jammer777:
Are you in Nigeria?

Ah, that ? makes me tremble, boss.
Anyway, presently I am in Nigeria.
But why, if I may ask?
Abi wetin i know sef?

Still a humble learner.

jammer777:
The sellers are in I presume. You can sell after a rejection from that purple zone forming a double top. I’m selling already though.

Me just exited the buy position I have been holding since last week. Still looks bullish but ranging and/or pulling back are possibility around that zone, I think.
Thanks and good job, boss.
Abi wetin I know sef?

Still a humble learner

Naijabad:
Mention one good company in Nigeria that recognizes ANAN. Forget about your Accountant General. We know how politics, nepotism and ethnicity influences anything government.

And why should I forget about Accountant General? If u were offered his job, won't u take it? The only hope for many ICAN certified accountants is the so called big 4. Now, can every1 get the opportunity to work with these accounting/auditing firms. If u are in the private sector, get ICAN and if u are working in the public sector or a privately owned job, u are 100% cool with ANAN or else u have been scammed

GabsonFX:
The $50K funding challenge, it seems tough.
I doubt we will have a winner this 2nd time.

Boss, the matter tie gele. The thing hard gan.
May be we try the 3rd and last time if no one hits target.
Abi wetin I know sef?

Still a humble learner.

Brunel:
But the Accountant General of the Federation has ANAN, not ICAN

Tell him. Ignorance is a very deadly disease. The only 2 recognised and approved processional accounting bodies by law of the land to date is ICAN and ANAN.
ANAN now has now upgraded the college of accountancy (govt approved), to a University of Accountancy and at the completion of the four year programme you bag Bsc Accounting and also become a processional accountant. You may even wish to enroll for your Masters degree in any Finance, Accounting or Auditing course. You can work anywhere the service a process accountant is required.
Gone are the days when ICAN used to monopolise the Accounting profession.

GabsonFX:
No trade executed - that candle formed is a NO NO: Gold ranging, no trade for the next 12hours.

I like the way you dey carefully romance this ur lovely gold sha. Truly shows you know your onions.
Wish I be like you one day when I grow up, boss.
Abi wetin in know self?

Still a humble learner.

Saskay44:
Any 1 using xm global?

Used them before but know nothing about then currently.
I think they are a good broker but not so popular among Nigerian traders.
Abi wetin I now sef?

Still a humble learner.

CupHead:
new to forex, any broker out there that allows withdrawal with a different payment method to that i used for deposit?

Try forextime. Deposit with credit/debit card or ecurrency like Perfect Money, Neteller and Skrill, you may be allowed to withdraw to your local bank account after trading with a certain % of the total sum at least. But not sure the other way round.
Abi wetin I know sef?

Still a humble learner!

cdec01:
Boss Thank you, for this......
So I have been training myself to trade to fit the risk management of prop firms..
I met target last month but have not been able to meet Target this month..
I feel bad, but your write-up is encouraging...

Sir, you are doing well. Keep pressing on.
I think that's one of the objectives (if not the main) the prop firms are looking for in prospective funded traders: CONSISTENCY. Even if it's 2% profit monthly target.

GabsonFX:
What I'm about to write is what I have wished to discuss with this precious house a long time, something kept on telling me: it's not time, but ehhh your write up made me to write it finally.

I will go a step further from the angle you are looking at it: they trade that way, and get those results because no one can hold them for it, if they blow the account. They will never trade live cos now they have something to protect or they go crazy. Do you think they will trade live like that? Mba. Because the account is huge, $10K and it's not theirs, they throw risk/money management out through the window but when it's time to go live with their own money, they go $50, $100; do you think they will do same?

Now, let's come to reality: I trade with prop firms, I'm established with them. Look at FTMO youtube testimonial videos, you will see many making $30K profit, wow! $66K profit, wow! but please do a good research on this: You will NOT find, or hardly find one person with 2 testimonial videos making almost same huge profit, you will hardly find a comeback video with same huge amount.....WHY? Is it not to buy and sell? I can buy this month and win but buy next month and lost.

How can you make $30K profit in $100,000 account in one month and want to repeat the same without throwing risk/money management out of the window. I'm super sure they got caught up by the maximum daily loss, that is the killer, then they lost the prop account. now, because you want an interview from FTMO and it's not your hard earned money, it's prop. When I listen to their interviews of someone making that huge profit $$66000, and they are asked the question: how long have you been trading: you mostly hear 1year ago....I just stop the video immediately.

Cos with my vast experience in this field, I know you will not return with another profit testimonial video. My take is: just neglect those you see doing this, I see it as vague, they don't last. These testimonies like the huge profit you see on hantec or prop firm videos are there to sway you away or distract you....stay focused.

Boss, I thought as much. These sorts of testimonies and crazy account equity are the ones that make newbies think forex trading is a get-rich-quick business venture. Just unnoticed distractions.
I use to wonder how consistent are they in terms of profit making in trading live account. Hmmm....stay FOCUSed.
Thanks boss, for that lovely exposition.

Well, still a humble learner!

I always wonder at the incredible performances of many traders at various demo competitions organised by various brokers: turning 10k account to over 100k in 2 weeks or less, ongoing hantec completion, for example. I don't know the exact number of traders that enrolled for this 'Beat da Don' competition but I noticed that over 150 are above the 'Don' already and over 300 traders in good profit.

Do these traders really replicate same performance on their individual live accounts? If yes, why is it always said that over 90% of traders lose money trading online forex?
On Hantec website, it is written that "66.79% of retail investor accounts lose money when trading CFDs with this provider"
Over to gurus in the house......
Abi wetin I know sef?

Still a humble learner!

GabsonFX:
My US$100K FTMO Account: Sharing the good and bad news all join - Let's learn some lessons.

---

See what US$8K + became today.........Today is another day of profit share..........I will tell my story.

Last week, I achieved a profit of $US8K and decided to stop trading, so I brought my profit split date forward from 31st Nov to 4th November. 2days after, I saw a sure trade and entered, gbam, it went opposite, I fought back, changed my profit split back to normal 31st of November, then I regained some of the loss, at US$7K - I requested my date brought forward again to 4th of November (this was 3rd time). Then I saw sure trade, I entered, went opposite down to $3K - then I was ready to fight back, I requested the 4th time to change my date back to 31st but the system did not allow me; stated that maximum change is 3 - wow... na so battle begin oooo, I pleaded to ftmo support to do this as one time and last time, they said NO that it is in our agreement........chai, na so battle start oooo that I must bring up my profit in the remaining 2days to 4th of November.

Na so I entered M15 to scalp and intraday ooo, chai, see gold ranged throughout after that surge......profit became $400, chai, I fought and raised it to $878 profit, ftmo will close this account by today's close and share my 80% profit - then they give me another fresh $100K account tomorrow.

LESSONS HERE:
1. Read the agreement line by line, know the details - now I learnt on the job and from experience that maximum profit split is 3
2. When you make a suitable % profit, stop and start over on the new account given, only you can define what is suitable.
3. Stick to your gun: in this case, ftmo's profit split maximum change rule caused me to go to M15,,, CHAI
4. Protect your account at all cost: This is what has kept me going with them - it gives you another opportunity for another day - if I had lost this account, I'm game over with them........now see, though I gave huge money back to the market - I am still in the game, I will be getting another fresh $100K account after this profit is shared today/tomorrow..........PROTECT YOUR ACCOUNT AT ALL COST.

This message is just to show the house that I'm not here flaunting only the good parts of my trading career, I also have the bad side but I don't let them get in me.

Shalom

Incredible!
You remind me of the 2 major rules by the great wizard investor:
Rule 1 - Don't lose money (that is, protect your account)
Rule 2 - Don't forget rule 1.

Thanks, boss.

Still a humble learner.

MONEY247:
Who caught that move on AUDUSD....
Sweet....yea

Down trend all the way.....
As for tomorrow NFP...... My leg never strong....I would be on a trading break.....

AUDUSD...is bae

AU could possible fall further beyond tomorrow even after the news as its general outlook is bearish...
Abi wetin I know sef?

Still a bumble learner.

Ah, the silence here in the last 20 hrs or thereabout is worrying. Is it the ongoing competition or weekend thingz?
Anyway the competition has humbled me the more.... But......hmmm.....

Still a humble learner.