₦airaland Forum

TheYoda:
Sometimes you guys should go through people's profile before saying some things LOL.

GabsonFX , his former profile name is pipsbasket , ignore my spelling mistakes (you should look that profile up LOL ) .

I guess because he doesn't brag lol, go through his page, you will realize he's presently kicking ftmo butt

I wanted to tell him this too before I thought it'd be better to sit it out.

situations:
in 2 weeks all the US30 Moral on this trend will DIE am very sure about this will DIE

No more shall i give them the Moral to trade the US30 Successfully Not on my Watch

Wahala be like (in Buhari's voice) "kovik one nine birus", new cases everyday.

situations:
Am Never Posting US30 tips on here again

never going to give anyone here the US30 Moral

once i don't post for 2weeks the US30 Moral in here will decrease and everyone go back to their currency pairs

This "situation" needs to be addressed!

Donsheddyguru:
Sure I can remember vividly well that was the reason why they changed the contest to two weeks...
Theyoungmaster was the one that led that campaign....
Two weeks to me is better it makes everyone active....
For me any rules, I'm gamed...
As long as it's gonna help me to sharpen my skills...
I no fear...

Raymondj0:
Nice to finally have the courage to start learning dis, even though I just start dis week Monday with Demo account and still on demo and planning to demo trade till July ending, trying to know more about the resistance lines drawing and know how to read the indicator properly. Currently on price action, forex is not that easy according to people around me, but I believe with determination and the guidance here in dis group, I can make it.. so help me God �

Nice positions you've got there. Try reduce the lot size next time. By the way from "this week Monday till July" is two months. That's a short a time to fully grab the nitty gritty of the financial market. Forex trading is a serious life changing business. You can't be profitably sound in any business venture after 2 months apprenticeship. I've demo traded close since October last year. That's 8 months. I plan continuing for another month to make it full term pregnancy . . Even though that long period was merely due to financial constraints, I'll tell you that the longer time you spend on the sideline(demo) learning this business, the more probability you'd have beating the 90/90/90 rule.


So, give yourself another 4 months of practice. Twill do you a whole lot of good.

PS. Find the very first season of FTA and proceed from there. Twill take discipline but e go pay las las

I'm not surprised one bit. Most of these lawmakers plagiarized campaign manifestos. Heck, "someone" who must not be named plagiarized president Obama's speech. Even the centenary logo was plagiarized.

Shame Don finish for this country.
Bubu used the last remaining drop in 2015

NetValueFX:
Please does any one know any broker that one can reset a demo account to zero trade and initial balance . Opening a new account for each contest doesn't look good especially when you don't intend using the broker for a live account.

You can add and remove funds with Hotforex and OctaFX. That should do. But then don't risk it.

infofirst:
1st position @Qpetz 42.6% $50
2nd position @Jerryson 32.2% $15
3rd position @Seunisco 20.3% $20
4th Position Netvaluefx 16.4% $15
@Klinksd Used Pin in his account . All against the rules.
@Jospido Violated a rule I will disclose to him when I message him
@donsheddy @Haryodehji @theyoungmaster Gets recharge card of 2k

Congratulations

Thanks for the largesse boss!

CopyJoe:
Greetings to all the bosses in the house.

@Charly20 @theyoungmaster and fellow newbies like me. I have been more interested in you guys trading than I have in other people. Baby steps.

My advice is for us to stay consistent and think long-term. Short term thinking can set someone back for months or years.

Thank you, boss infofirst. You are helping a lot of us with this thing called trading. Your effort is not in vain.

Cheers.

Cheers bro. Slow and steady wins the race. God no go shame us.

infofirst:
Thats exactly what I have always believed too. If you can not manage $100. You can never manage $100,000. Underfunding na just excuse.

Retweet!

infofirst:
^ Learn to take positive lessons from the contest and do not be intimidated.
Just because of @mayork2n trading style in this contest period. I was motivated and decided to trade ustec and us30 and see attached what I achieved on that. And this is just a set aside live account.
When life throws lemon at you, my boss, make lemonade out of it.

@last contest. The most valuable trader @jbinary AKA @ilovebigyansh made me to trade 98% 0.01 lot in this contest period and infact made me reduce my risk in my live accounts. That should be the essence of this contest. Learning and unlearning. If there is anything to learn in this contest period, it is that money management is single most important. When you miss money management, you will lose money and this will bring doubt into your strategy and mess your psychology for days. Why wont you then better start trading responsibly.

This contest most valuable trader is @Seunisco. He did a good job harvesting this pips. @Theyoungmaster did good too. @infofirst no relent as well.
Our number one this week @qpetz did fantastic job as well. It is one thing to lead and another to maintain it.
@mayork2n. Thanks for that good run as well. I hope you wilk come and tell us the gist in full. How it started and what caused the last minute hitch and your advice for upcoming traders like me

Thanks for the mention. Still an upcoming newbie learning the ropes.

Naira Marley.

The other day some agbero fans from Manchester punctured tires of Liverpool's team bus. Seems Manchester na Sambisa wey dey disguise.

NetValueFX:
Exactly.
The limits on lot and maximum open order has introduced a reasonable fair play and discipline as well. I believe the organizer of the contest has an aim which the current status quo is not achieving.
There is a positive side to this new rule, people will now be forced to vet their trades properly before placing them cause there is less room for error.
Personally, I do open upto 12 trades sometimes. Now it means I will have to wait for the best trades with sharper entries else I will forced to wait a longer time for profit to be made. So it's a good thing. This conditions if maintained for 6months will produce far better traders than the current conditions. It will also make us know that with such conditions someone can actually make a decent profit.

On point. You've said it all. Tuale.

haryodehjia:
Boss can the DD rule be reduce to 5% too since we are reducing the lot size?

Ahhh! Kuku kill us, we are your Boko Haram.

Who else noticed how "they" filled up the first page with paid Ad from different monikers? . One moniker even commented thrice at different intervals. Weyrey dey disguise.

Donsheddyguru:
Risk management is everything...
If you can't manage your risk then I don't know....
Risk management isn't all about using small lot size like I said it varies....
Risk management means knowing when to enter the market and when to jump out....
How much loss you're will to absorb....
One can make a million pips and still blow his account...
While some one else can make just 10 pips and still be profitable....
It varies....
Some people have the patient to see out a trade till the last minute, while some don't have that patience ....
It varies that's why we have scalpers, swing trader's, day trader's....
That's why we also have different tf to accommodate everyone...
At the end of the day no matter your style of trading...
If you're good you will always be profitable...

I get your point. Thing is the maximum 0.01 lot size as recommended by boss @infofirst will make sure everyone is on a level playing field as regards risk management and pips making. It wouldn't be fair to me if I'm trading 0.01 lots all along to make say $10 from 100pips while another person is trading 0.1 lots to make same $10 from just 10pips. I'm already at a disadvantage. If we all trade 0.01 with max open order of 5 positions, then anyone who tops the contest must have managed risk properly, made the highest pips and also had the commensurate highest profit to go with it. It's killing 3 birds with one stone.


I strongly support.

Wo, make i go read. Exam's knocking. Pip count and value wouldn't matter in heaven.


Over and out.

Donsheddyguru:
This one makes sense....
Minus me oh...
I'm sure theyoungmaster takes more trade than I do...

Not at all. I barely placed above 3-4 trades each day and there were several days I didn't even trade at all. I trade the contest account like it was a real account.

ItzProspero:
Supported.

Some focus on pips, some on risk.

Let the rules accommodate all pls

Donsheddyguru:
Exactly my point

A good trader focuses on both. They are complementary. No need for the split. The contest is all about making good traders out of all contestants. You need to be good at risk management and pips making to be considered a good trader.


I come in peace.

Donsheddyguru:
Like I said...
Using pips alone to judge won't stop over trading....
Someone can decide to use 0.01 lots size and at the same time open too many positions....
Thereby risking too much too

Boss @Infofirst already said "MAXIMUM OF 5 POSITIONS CAN BE OPENED AT THE SAME TIME". There's no over trading with that.

infofirst:
Except we kind of restrict brokers. Icmarkets am pretty sure will not allow one to trade indices 11lots with $1k balance.

That'll be a bit much boss.

NetValueFX:
It all depends on what one is trading.
Having 10 trades at 0.1lot is not same as having 1 or 2 trades at 0.1lot unless those 10 trades are same pair.
So for me, I think someone trading different pairs will definitely survive 0.1 compared to someone trading trading 1 pair at 0.1

You've made a salient point. I agree.

NetValueFX:
My opinion is to let the max lot be 0.01 and max open order 10.

That'd be 0.1 lots exposed at the same time. Twill be difficult to track risks properly and still avoid 10% DD on a $1k account.

My input though. Final say lies with my oga at the top.

infofirst:
Correct.

I made net +652pips and I am where I am but the current 1st position made net +208pips. @maryokn made about +800pips before falling short due to 10% peak loss. We need to adjust so the best pips maker can rank higher. Then since gold can be traded using 0.01lots(10cents/pip). Maybe it will be allowed

Yes o! I made a whooping 787pips yet I'm languishing at 9th all because I trade mostly 0.01 to 0.03lot sizes while the new topper made just 208pips. Pips made should be the benchmark. Not going in with outrageous lot sizes.

It's well.


Modified; In this current contest, My pip count is higher than every other person whose account is open to access....aside @Seunesco. Y'all be making me feel I was a bad trader with huge lot sizes. SMH.

Theyoungmaster:
Wow. I'm surprised really. I guess he took it up as a personal target to hit 100% Return. Laudable to be frank.

Off to check his trade history.

I'm back. US30 did him dirty. Reminds me of the old adage that "what is sweet can kill too". Over all, he did a great job. I love the way he's able to hold onto winners for a long time. Still something I'm working on. Most times, 50pips in the bag, I don japa.

Elliotwaveforec:
He got to 1700, if he loses 171, he gets disqualified. With icmarkets, the least lot you can use is 1; and if the instrument goes against him by 171 points, he gets disqualified.

You know how indices move nah; they average 300 points (pips) daily

Mehn.... This is so unsophisticated. Kai!

infofirst:
High risk comes with such outcome. Its not surprising.

Wow. I'm surprised really. I guess he took it up as a personal target to hit 100% Return. Laudable to be frank.

Off to check his trade history.

Qpetz:
Can you break this further? Coz I don't understand. Does this means that if I'm using 0.01 lot size, I can only take 5 different trades?

0.01 x 5 = 0.05 (Max)

It means the maximum(highest) lot size you can use is 0.01 and the maximum (highest number of) open orders (trades that can be active at same time) is 5. Technically meaning that the maximum lot size at any point in time is 0.05 spread out over 5positio s.

NetValueFX:
I don't understand how someone leading the contest with such a margin continue trading in the first place. Seriously, I can be very insensitive when trading but not on these kind of profit margin.

Maybe he did it deliberately. Unto "fair play" things. He deserves to be applauded. He did well.

NetValueFX:
Yep,trading closes by 12noon tomorrow.
I have closed mine today though. I am okay with what I achieved thus far.

You did well Bruv. Jumping above me at the speed of light. Well played! Kudos!

Elliotwaveforec:
10% peak loss.

Seriously?! How? Where? When?

boom99:
Yes na. Na sin?

Lwkmd!