₦airaland Forum

Mayork2:
ic markets

I see. Thanks.

Mayork2:
Well very possible but I doubt. I trade US indices only

Which Broker do use boss?

WallStreetfx:
Yeah, how can you gain 67 percent in 2 weeks that's not trading to me. That's pure gambling.

Retweet!

infofirst:
@mayork2n 1.0lot is equivalent of 0.1lot. $1/pip.
It was @qpetz that used 11lots and ran out after less than 20pips.

The issue has to do with brokers too and their varying rules for margin requirements for trading non currency pairs. I guess @qpetz broker allowed tiny margin for indices. With the leverage at 1:30max...There is no how you can place 1std lot in a $1000 acct balance trading currency pairs.

It's shocking!

amuwo1980:
Person way don die for desert on his way from the idp camp in Benin republic to Greece driven away from his homestead by herds men and hunger

Lwkmd.

Donsheddyguru:
Ayam not understanding again oh...
E be like say everybody go find there way to UStec and us30 oh....
How come qpetz was able to use 11lots, that's approximately 1lot on currency pairs to trade...
Nna I no do again....
Wetin dey occur

It's very unfair.

Nigeria numbs you with gory tales every day.


Pathetic!

midep:
Leave them with their propaganda, Buhari we know is our Choice.

A Dictator is far better than a failed President.

#March4Buhari.

I hope you're enjoying your dictator now. Efulefu

ILovebigyansh:
The contract specification of indices CFD's completely differs from that of currency.

That 1:30 is equals to 1:300 in currency market.

Also depending on the broker, some brokers have different contract specs for each of the individual indices traded in relation to their margin requirements & leverage.

Unlike in currency CFDs which is the same in any broker just little differences in their spread, commission...

Indices gives fast money but can also be very dangerous i.e DE30

I asked cos i tried opening a position on US30 yesterday, was told insufficient funds. Maybe it has to do with different brokers having different contract requirements as you rightly pointed out.

Gasive:
Maximum leverage allowed is 1:30, Must be an active member of FTA thread. 1st, 2nd and 3rd position will get $50, $30, $20 . Close all position at contest close and auto sync.
All instruments allowed except crypto . No use of pin to secure trades.

I'm still wondering how some people are able to trade indices with 1:30 leverage.

XAUTrader4L:
Yea but technically there was already a sign on the chart that something like this was coming. The news was just the catalyst that helped the move further.

You're spot on.

A head and shoulder pattern even formed on the daily I think. I've been expected a sell off since last week. I never expected 30k will broken so easily sha

L

NetValueFX:
Lol... Na me humble pass. I hope you no buy bitcoin at 64k

Lol. I bought at 4k but my portfolio is not looking funny right now. Elon musk!

somto10:
lol, i understand.
i learnt fx when i was in year 3
i almost went depressed cuz i was losing money bk to bk.
it bcame worse during my final year, left with 3rd class
lol today i'm happy i didnt giv up.

Las Las, money must be made.

Seunisco:
Please is anyone a student here and also a trader, I mean university student. How have you been able to combine studying in school and trading? Right now it’s super distracting trading , but I need to also trade too, I don’t know to handle both without getting distracted

I'm a finalist and a new trader learning the ropes.
It's all about discipline and following a time plan. I must be honest, it's not going to be easy. I've not really been studying about fx as much as i used to prior resumption. But then I still get to look at charts and read one or two fx books every 2 weeks. Just re-order your priorities and work with a timetable. You go dey alright Las Las. You might need to get under the tutelage of a seasoned trader inorder to cut the time for your learning curve.


Which varsity by the way?

NetValueFX:
Oga take your noise making elsewhere.
I will am always making steady pips. I want to avoid demo traders like you and your cohorts. You guys make lots of noise.

Most traders talk about strategy, risk management and psychology. But they leave out the most important; humility.


It's well.

GabsonFX:
It's H1

Looks like a bullish flag.

Following

Elliotwaveforec:
Don't log in to your mt4 before the start of the competition. Log in after receiving a message from the organiser that the competition has started.

That's not correct. I've been doing this since the contest started. No disqualification.

Theyoungmaster:
Going according to plan thus far.

Still on track. The set up is still valid.
Price has retraced to 61.8 fib level. Anticipating a bullish play out today or next.

Gold is setting up for a sell... Technically.
Price is at the upper TL on daily Timeframe.
An extended double top with a divergence is forming on 4H Timeframe.

On the complementary side, DXY is forming a double bottom at Friday's low.

Observe. Wait. Follow.

GabsonFX:
My GJ analysis as market opens in 3mins - LONG NOW, SET SL = 153.296, TP to about 250.0pips away from current price....Watch out for big spread on market open

---

NOTE: If SL is taken, don't reenter immediately
NOTE: If SL is not taken but the price closes between those 2 yellow lines, exit the buy position and manage the small loss since SL is not taken
NOTE: Whether SL is taken or not, as long as today's price closes below the top yellow line, and especially below the lower yellow line, Short it immediately with the same lot you used in the previous.

PS: I don't call trades that I don't trade, I trade all my calls.

Success

What TF is this boss?

cybertron88:
Great job. I took part in d last two but was too busy didn't take enough trade. Can I still use dat same demo ACC by resetting the octafx demo ACC to $1k balance or must I open a fresh acc?

Of course you can

infofirst:
My ten thumbs up for you. I am highly impressed. @Kaesyrn@netvaluefx @satine ...Come and say thumbs for this humble and generous boss mi and reach me for your gift.

@copyjoe @charly20 @theyounmaster @romklef @osin_amaka for the 1k airtime each or you can request for the cash. Your choice. Reach out to me as well.
I realized that has been the major cause of failure for most traders. Poor risk management and then this disrupt their psychology and they begin to doubt their trading strategy. And that is why I kept on reducing the DD in the contest just to make them adjust and trade the right way. The strategy is not the problem but the traders with terrible risk management which usually destroy their psychology and hence the words forex na scam, brokers are thieves, you can never make it in fx bla bla...Contest DD will be reduced to 10%


Simplicity in trading is top notch I must confess as well. Fundamental I always find hard to play with but I will pay attn to it at least as back up to tech.

Oshey! Thanks a lot.

infofirst:
I understand boss Mi. You did very good But sometimes there is always a benchmark I used to come up with my decision. There is always a next time.

Kai! Ayam pained o. It's well.
We moveeee

romklef:
Trading is all about psychology and risk management



#WeGoAgain

This is wrong sir.
When you lose 3/4 trades consecutively, just leave the market. Else you'll be trapped in a bid to take revenge. Your psychology will be messed up and that only means more losses.

I come in peace.

infofirst:
[b]What a contest this time? Obviously getting better. And I guess some body somewhere is challenged and learning and improving. There might be reward attached to it and that is to reward those getting it right and motivate those still struggling. Personally, I have been challenged and I have come to learn much more since the contest started. Kudos to every one participating or following.
At the end of the contest and after verification,
@Gasive 1st ------29.5% $75 ($75*#480)
@Qpetz 2nd ------21.396% $50 ($50*#480)
@Benqozenero ----21.382% $25 ($25*#480) Congratulations

The Most Valuable player and or trader goes to @Jbinary AKA @ilovebigyansh. Surprisingly, this boss stated sometimes that he is not in the contest for the money and I was wowed by his performance because I am clearly convinced by that statement with the results.. Excellent strategy + fantabulous risk management + Decent Psychology = Rewarding Performance. As a result, I will be giving him #20,000 for that and now he has a choice to either accept the reward or nominate four people here that he will want that I give #5k to each or he just let go of the price.

@jospidos was disqualified at the last minute simply because he failed to send in his login details, despite the warnings, despite the reminders and I personally sent him emails but still no response. I hope he is safe as well. Best wishes. The rules are as important as the results. The fact that most of us do not have rules or keep to our trading rules explains the reason for the struggle in trading and outside of trading.


Next contest link is out with updated rules, Kindly read first before joining the contest.

@ilovebigyansh.
I will appreciate if you can answer this even thou you have answered it in the past. In your six years of trading struggling and last two years been profitable, what did you learn along the way? what brought about the transformation in your trading results? What will be your advice for that you six years ago? What do you think is responsible for 90% of traders failure? What do you think that I need to be a profitable trader? I want to grow and be better than the type of trader you are today.

@aluspeciality, @itsprospero and now @jbinary have been exceptionally exceptional.

@satine@donsheddy@amolak @wavesandgold@youthatididnotmention

@charly20 and @copyjoe are worthy of mention too. They are struggling but highly sincere and determine. Do not relent boss mi. You will get it right eventually like @gabsonfx @shevychen2 @currentprice @natrutalk @redsox11 @meshpips and like me your fellow struggler too @infofirst.


2k Recharge card for @amolak @oobash@netvaluefx@itsprospero@haryodehji for making 5-9th spots.

Thank you all and let the weekend exchange of ideas begin.


Next contest link
https://www.fxblue.com/competitions/ViewCompetition.aspx?id=1316&rx=1620990740562

[/b]

Congratulations to the mentioned.


Boss I came 10th. I deserve a little token for data too o. Lol

Theyoungmaster:
Almost all USD/xyz pairs are oversold and showing divergence on various tf. I expect DXY to bounce a bit up this week sha. Moreover, a technical correction is imminent after the massive drop last week.


Fingers crossed.

This is playing out on all USD majors.

Theyoungmaster:
Seems DXY is printing a double bottom. There's a slight divergence on H1 as well. Will we see a bounce upwards...?

Time will tell.

Wait. Observe. Follow.

Going according to plan thus far.

Seems DXY is printing a double bottom. There's a slight divergence on H1 as well. Will we see a bounce upwards...?

Time will tell.

Wait. Observe. Follow.

GabsonFX:
Go ahead boss...what do you have to say about the reason behind the trade.....I'm still learning

Lol. My oga dey whine me. It's well.

Lemme look at the chart again and drop feedback.

blackman007:
USDCAD, approaching an all time low(support) A support that has held since 2015, fingers crossed ��

Almost all USD/xyz pairs are oversold and showing divergence on various tf. I expect DXY to bounce a bit up this week sha. Moreover, a technical correction is imminent after the massive drop last week.


Fingers crossed.

PercyDesk:
Na wa o



Work on a six months contract writing articles from home.




Remuneration : 500,000 Naira.




If this opportunity interests you, signify your interest by sending a message on WhatsApp on




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Thank you

Oga rest kwanu! You don quickly change moniker already? I go still drag your ass.

X3n:
You have made great points
It's true that there are things that you cannot automate like intuition but if majority of your strategy is based on intuition, then you are gambling not trading..

In trading, there are setting conditions that has to be true, for it to trigger your entry and exit and you can automate those.

It doesn't mean that you will go and sleep, if you feel that the market is behaving abnormally, u can turn off the robot.
If you are expecting a high impact news or event, you can turn the robot off.

I can even configure the robot not to trade on certain days like Fridays or certain known public holidays or NFP..

The world is moving towards automation and any process you repeat over and over again is an example of something you can maximize with automation..

I will code your strategy, back-test it, give you the result of the back-test. And then we can run it in a demo account over a period of time. If you are satisfied with the results, you can now put it into your live trading account.

You've spoken well Sir. I'll surely reach out to you when I start trading with a laptop.