₦airaland Forum

Depressed111:
U are talking of exams, when u can not even understand simple maths


0.01 lot on 5 different pairs = 0.05 lot


0.05 lot on one pair = 0.05 lot



There is no different between them, infofirst should come and address this issue, if he will accept it, then fine, if he will not then still fine



At least he should say something about it, instead of just keeping quite and observing

...and you literally had to throw a shade? SMH!

Competition rules
READ THE RULES CAREFULLY.

Maximum leverage allowed is 1:30,
Currency pairs and gold only.
Maximum (highest) lot / trade is 0.01lot(10cents/pip). Total lot size that can be opened is 0.05lots at a time. No pin to secure trades.


If you digested the rules properly, then tell me how you can open a single trade with 0.05 when the rule said "MAXIMUM(HIGHEST) LOT /(I.e per; for a single) TRADE IS 0.01....?

Donsheddy:
Please draw out the scenerio...
I'm not trying to play smart bro...
At no point in the contest have I gone above 0.05 at an opening position....

I'd rather let it slide. Got something else I'm working on right now. Plus exams are in-view. No time for long epistles. I could send a voice note later though.

Donsheddy:
What consensus again...
Disqualification as how...
Max lot 0.05...
If you're still feeling cheated...
I don't what else to say to you bro

E mi keh? Cheated? Nah! It's all about following laid down rules. It's a life hack.

Donsheddy:
It is a level playing field my brother....
As long as I don't go above 0.05 lots in a single position.....
You definition of catching pips is quite amazing....


Let's assume we both see a 10 pips move on EurUsd...

I decide to jump in with 0.05 lots...

System will record just 10 pips....

And you see that same move and decided to jump in with 0.01 lots 5 times..

The system will record 50 pips...

But the truth is you didn't catch more pips than I did...
We caught the same pips....


Now your profit will be calculated


0.05 * 10 at 10 dollars per pips...
I will make 5 dollars


And you will also close at 5 dollars....

You grab....
As long as I don't exceed 0.05...

What's the difference between someone that open 5 positions at the same time on the same pair and someone that opened one Position with 0.05...

But are taking same risk and money management...

Simple maths bro

All these illustrations are inconsequential. Matter of fact, this exact 10 pips scenario have been ironed out already before the contest started. There's no point in overflogging an issue that was duly deliberated upon and a consensus reached. Going contrary to that consensus is tantamount to disqualification. Centris paribus. I would have drawn up another scenario to rebuff your 10pips scenario but then to what end? The organizer has already ruled on all of it and we agreed before contest started. There's no smartness in interpreting the rules to suit you. You know better not to slim fit an examiner's instruction to suit you. Rules are meant to be followed to the letter.


Over and out.

NetValueFX:
No, maximum lot is 0.01
If you need 0.05,you open five positions. Trading a single position with 0.05 will get you disqualified

Exactly. So many people have broken the rules already. They should have asked for clearer explanation. Nawao! This is so unsophisticated. Local man can't can.

Donsheddy:
It is still the same thing
If you're trading a single pair...
You can have one active trade of 0.05...

Cus 0.01*5 = 0.05

Nah bruv. That ain't on point. Someone raised this exact scenario while we were all deliberating on the new rules before the contest started. The organizer said it's about making sure the winner has the most pips count. If I'm trading all 0.01 lots and you're going hard with 0.05 lots, how do you think I can win with highest number of pips? Lemme bring this home a bit, last night I looked at your trade history and noticed you're trading 0.05 lots all along. I was clocking close to 100pips while you were around 40 or so. But then You were ahead of me on the table. I've been trading strictly as the rules stipulate; 0.01 lots. You were trading 0.05. Is that a level playing field? Think am brother.

Donsheddy:
You're allowed to open 0.05 lots on pairs... As long as it's just one position...
The rule is at no point...
Should the summation of your lots in an open position exceed 0.05....
Any how you wan take trade am...
But floating lots shouldn't be above 0.05 at a Time

This is actually not correct. Maximum lot size PER TRADE is 0.01.
See attached.

EVERY SINGLE TRADE MUST BE 0.01.
MAXIMUM LOT SIZE OPEN AT A TIME MUST NOT EXCEED 0.05. THIS MEANS THAT WITH 0.01, YOU CAN HAVE UP TO 5 TRADES ACTIVE AT THE SAME TIME.

The rules are simple and straight forward.

Theyoungmaster:
Please who knows any broker that offers a beginner friendly, spread healthy cent account to nigerian based traders?

Please keep the suggestions coming. I'll really appreciate.

Thanks to boss @Infofirst, I'm getting ready to float my first live account. God bless you mightily Baba!
Yo, I'm excited y'all! Been on the sideline for 10 months demo trading, investing in knowledge and bidding my time. Tips and advices are welcome.

ItzProspero:
try forextime

Alright boss. Thanks. Will check them out asap.

Donsheddy:
This Grammer plenty sha...
I no understand one thing you talk here boss

It's market maker's method(mmm). There are 3 levels for every trend. Each level has it's own consolidation or retracement as the case may be. Every trend terminates after level 3 consolidation with the formation of a double top or HNS or wedge or a straight away trade. There's usually a reset after level 3 move. So when he talked about level 3 rise and reset,he meant to say price will still sell for a while (his bias is to the south) before a big reset (stop hunt and formation of double bottom or consolidation or inverted HNS) before he jumps on the move to arewa (north).

Read up on mmm. Quite educating.

Please who knows any broker that offers a beginner friendly, spread healthy cent account to nigerian based traders?

CopyJoe:
My story on GU.

I learnt something tho. It's not the best entry and sl using market structure.

Same here brother. I entered too early. Should have waited for a break of market structure and a divergence or double top before pulling the trigger. We learn everyday.

Tony142:
"The easiest way to have a strong trading psychology is to be happy when u make a loss and be sad when you make a profit" - Tony142, 2021.

Ahhh! You say?!

ogashman:
This is exactly me today.....bought gj with 40pips SL. Na have been monitoring it since. Got home, decided to rest for 30 mins came back discovered SL has been hit....it is well

This was me on gold today. Sold at yesterday's high on 1911 with 50pips Sl and tp at 1892.i decided to train my psychology by "setting and forget" only to check in few minutes ago and see price hit sl and then reversed straight to my tp. It's well.

The day i will sit on a trade, it will be toying with my emotions. If I na decide to trade like my bosses and forgo emotions,things will na occur.

SystemBet:
For this competition no .. Personally you can put as many trades as you wish in your trades.
No limit

Sir, that'd be contravening the rules.

It's not permissible to "put as many trades as you wish" when the rules stipulate that maximum lot size per trade is 0.01 and maximum open lots at any stipulated time must be 0.05.


Oh, you're being sarcastic. I gerrit.

The new rules are tight o. Lol.
2 days into the contest and the top dawg is leading by $20. By this time last contest, @Mayork2n was leading by $100+ already. Baba didn't give us hope at all.



Nice of the organizer to assent to the suggestions of all and sundry regarding the rules. This competition is now very healthy. Now, one can enter trades comfortably and let it play out.

Gasive:
This one pass me oo...
Infofirst biko come and clarify.

All active trades must not exceed 0.05 lots. In other words, not more than 5 trades should be open concurrently(at the same time).

Breaking even on all 5 trades and opening another fresh 5 trades is contrary to the rules. It means 10 trades of 0.1 cummulative lots are open. If you want to open another trade, close one or more of the previous 5 as you wish, then add the new trades.

redsox11:
This is for you, simple ones

What might help, use 30 tf to count levels inside a day. That is after counting your a week levels.
First is a week levels , then count inside a day level for entry.

My writing should make sense to you and not so others.

Noted. Thanks.

topsyn03:
Sell GU
SL 1.4219
TP1 1.4145
TP2 1.4112

Yeah. I've been in a sell too.

It's the boldness for me.

Do these people even have kids at home? Do they feel embarrassed by their shameful hypocrisy? Is their conscience dead totally?

My goodness!

Omoooo

infofirst:
Thanks all for the wishes. God bless

A belated Happy Birthday to you Boss. Here's to many years of peace and serenity. Cheers

topsyn03:
With the formation of divergence formed on both 1hr TF and 30min TF, you should expect a downtrend to continue.

Price may likely pull up to the 110.2xx region in a stop hunt and form a double top before selling off.

Penguin2:
We made it

Congratulations!

Theyoungmaster:
Trade idea for today.

Pair; CHE/MCI

Entry; Buy stop at 1st half.
Exit; Tp at 90 minutes.
Stop loss; No need for SL, the signal sure die.The boys from London never disappoints.


Set and forget!
We moveeee!

Tp hit! Blue is the color! Told y'all twas a sure signal.

Trade idea for today.

Pair; CHE/MCI

Entry; Buy stop at 1st half.
Exit; Tp at 90 minutes.
Stop loss; No need for SL, the signal sure die.The boys from London never disappoints.


Set and forget!
We moveeee!

infofirst:
Boss mi. Take am easy o. You are throwing yab at my bosses. @redsox11 @GabsonFX. @theyoda Slow down biko. Do not misuse privileges o. Its privilege when those bosses interact with us here. Try and acknowledge and appreciate.
It might be a faceless forum but we have all got faces so watch it.
And for the record, when @currentprice shows up here, be more careful. Same with @shevychen2



@All.
And please and please the fact that you are struggling with fx does not mean everyone is as well. Calm and learn to pay your price and see yourself grow and develop over the years.

You wanna drag with folks trading since 2007 and successful since the last ten years. You dont wanna see craze o. Its not about age o.
E jor o. Dont let your blood dry o.
I twale my bosses

Court rise!

SystemBet:
I want to join to sharpen my "knife" please which broker(s) offers the 1:30 leverage and the $1000 demo? Anyone pls?

I think all brokers do. I'll advise you to go with OctaFX though, fair spread and swap free option. All the best.

NetValueFX:
Wash your boxers well

Tony142:
Na me u dey speak grammar for


Let me not talk yet, show me where u see me attacking him

Oga Tony, I'm a grammarian, upcoming Obahiagbon. Na you be my first victim this morning.

NetValueFX:
I have never gone to check anybodies profile in Nairaland before, because when I look at my own profile page there is not really exciting to write there. However, the way the boy is going about it like everybody on Nairaland must view peoples profile. If there is any profile I would have viewed it should be that of infofirst. However, the nairaland site is so dry that profile's are almost empty.

I feel you brother. But then oga pipsbasketings et Gabsonfx na elder here o. I think you weren't around for the past season. Maybe you should scroll through that and other previous seasons and check out his trade calls. Quite enlighting.

My 2 penny.
Wo, it's Saturday. Make i go wash clothes. E go be.

Tony142:
So it is only student traders that need money abi? Oga go sit down abeg, it is people like u that make newbie to loss money, u guys will be making Forex look as if it is easy but yet 95% still loss money




If u think the Forex market is 100% predictable as u claim, then u should be competing with people like them Elon musk, bill gate e.t.c but yet your name never still enter your village list not to talk of Forbes list

You just committed "ad hominem". Fallacy of attacking the individual. It's wrong. This debate thus far has been enlighting. No need for the cold feelings. Intellectuals disagree to agree.

redsox11:
bigbasho Don't spend your time with the back and forth argument.

Go on with your trades.
Count your levels, count your levels and count your levels. Don't forget it's all in the levels.
Wait for it and don't jump the gun, the set up is going to come to you with good RR

If in doubt, switch time frame and look at the trade again, you might see barf set up staring at you.
As barf is easier to spot. If not, then wait for SH before pulling the trigger.

Some image below just this week.
Same story on e/g ,e/c and few others earlier in the week. CAN YOU SEE my level counts? and the level count within level count.

The level counts you're talking about, is it related to Steve Mauro's Btmm template and course?