₦airaland Forum

Geovanni412, what's your view on EU, reversal or continuation to 1.0841.

RKTexpert welcome to the EU kingdom, I trade EU only too.

Been sitting on the fence for two days, finally took a sell on EU, karkinase it finally dropped but It didn't hit the daily support yet

richgen:
If I can remain unmoved ( with no emotions at all) whether my trade ends in a win or loss I'll become a good trader with time. This I know.

bro go read Trading in the Zone, it'll help make your mental game strong.

I'm actually still sitting on my hands because I haven't seen any setup yet on EU.

Karkinase, what's your biases on EU, seems like it'll sell massively tomorrow to daily support.

karkinase:
didn’t see this bro.. I was offline. Anyways everything for me since London has been sell sell…

Yeah, EU dropped around 65 pips, price smashed through those levels like no body's business.

Geovanni412:
Are you using price action or indicator based trading?

If you are using price action, then you can use correlation coupled with price action reading to your advantage

You need to make minor adjustment to the bolded.

As a day trader, you should be looking at the previous highs and lows on the daily chart or on the weekly chart.

That is where your entry should be from based on whatever method you are using.

Place limit orders of 1/6th of full size or less appropriately and watch

Enter with small size, then re-enter with full size if you are still seeing the same signals after 16 hrs.

I use price action but my trading is mostly mechanical, I check daily TF for directional bias and 15 min for entry using LDN killzone, but I haven't been killing it as I thought.

thanks for the insight, I'll def adjust and see how it goes.

Geovanni412:
Eazy solution....

Market ranges 70% of time

So, if you are doing market analysis on weekly

Entry pts:
Your short order should be from the weekly high or open (if the bar was bearish) and from the weekly high or close (if the bar was bullish).

Depending on circumstances, you can short at middle of previous weekly bar as well but never short at weekly low

Instead short from 0.5 of the weekly range, if you see the right signals. (See e.g below for clarity)

Stop loss considerations:
Short at key levels from the previous week then use wide stop loss of like 60 pips initially, later on you can reduce it if you like.

Example:

Entering into a new week with eurusd

From the chart, you can see this
H - 1.106
C - 1.094
L- 1.092
O- 1.100

From this, if you believe it is a sell order, your entry should be from 1.106 or from 1.100

If you believe it is a breakout trade, which market rarely ever does, then you should consider using your trade method, entry from here : L - [(H-L)/2 ] = 1.092- [(1.106 -1.092)/2]
Answer = 1.085

So, your third possible consideration for short would be from 1.085 zone, but note that it is likely that the market may range upwards from there as well

If you do a backtest of 3-6 months or longer, you'll notice that this is how the market moves on the weekly

N/b: these rules are also applicable to the daily chart

Thanks for this indepth explanation, I'm actually trading the daily candle and surprisingly this is the exact same way I trade, my biggest obstacle seems to be knowing the direction the market will go.

When I'm bullish, I look for the low of the day during London and make an entry, most of the times after entry, the market will reverse take out my stops and continue going down and the end of the day I'll see a giant bearish candle on the daily timeframe, vice versa when I'm bullish.

how do you conclude on a directional bias from the higher timeframe with a high probability?

Karkinase, can you spot this bullish OTE in EU on 15 minutes.

Is is ripe for a buy?

guys, what's the importance of doing a weekly analysis or plotting your chart against next week when the market structure can change at any given time?

isn't it better to analyze daily when you want to enter and trade what you see?

I did a weekly projection of EU last week and concluded that it'll be bearish and EU ranged throughout the week, I got burnt because I was fixated on my weekly bearish outlook.

rainlover:
pls be careful of some of these new prop firms o

noted

Eaglepixel:
What's the name of the propfirm?
Cc:samfelly pls prop firm running promo currently

Fundingpips

Following.

Self Awareness, Funk, Back To The Grind, Reality, Addiction

Self Awareness

I think I've reached a level where I know what I want clearly, there isn't any distraction or what ifs in my mind on which direction I want to follow in my short existence in this planet, I've read Steve Jobs Stanford's speech like 5 times now, you should too, it's true you can only connect the dots looking backward, there are a lot of things going on right now in the country, at home, in my mind but I can't let that control my choices.
Life will always try to come at me, I accept that, but I'm going to try my best to get what I want out of it too just because I can.
If I die life will still go on, if I do what I want or postpone it, life will still go on, if I become rich it's still the same thing, it doesn't really change anything in the grand scheme of things, so why not take risks and damn the consequences.

Funk

Lately, I noticed whenever I'm about to make a decision I'll go into a funk, funk is kind of a brother to nihilism, you'll feel like nothing makes sense, you'll feel disconnected from the world, you feel alone even though you're surrounded by people, you lose energy for everything, going through life in a passive mode, it's not a good mind state to be in, but I've grown to understand that it's necessary to bring stability in my chaotic thoughts and it helps me to start afresh on a clean slate after I come out of it.
Last five days were just funky for me, I didn't get any work done, I binged NL, books and spent a good amount of time alone in my room.
Writing's a way to bid it goodbye, that's why I'm making this entry.

Back To The Grind

I've started talking to some users, I've shown them the prototype and I've gotten some feedbacks, I'll work on that and roll out V1 in this August insha Allah.
I'm alone now, no co-founders, because most people are just chickens, I will only consider a partnership again if I get someone that's as invested as I am in the project but for the meantime, I'm single not searching, hahaha.

Reality

My savings have dried up, I'm I scared? Oh yes, my plan was to make my business profitable before my savings runs out, but alas, life happened.
I'm 22, I currently live at home with my parents, I see it as a big deal really, I feel like at my age I should move out you know, we have a terrible power supply also, so I don't even get to work on my start up every time.
But will I give in? Hell no, I'll keep on trudging till I make a headway, I know I will, I just have to keep on going.
I'm putting this out there so that y'all know I'm not a trust fund kid and I go through shit everyday like a typical nigerian youth.

Addiction

I think I'm recovering, which is exciting and worth celebrating, I'm also building new habits.
In July:
Masturbation 7/31 days
Porn 5/31 days
Missed prayers 6/31 days
Missed reading Qur'an 5/31 days
Missed workout 6/31 days

I've also read books
Slight Edge by Jeff Olson (done)
One good trade by Mike Bellafiore (done)
The Playbook by Mike Bellafiore (done)
Outwitting the devil by Napoleon Hill(done)
Emotional intelligence by Daniel Goleman (haven't finish)
Racing towards excellence Jan Sramek ( haven't finish)

July was a snack, I ate it.

I know this is an old thread, how many of y'all achieved the goals ?

Demo Account -> Draw down.

Competition Account -> Draw down.

sigh

Bearish Weekly and Daily outlook on EU.

Price might reach 1.08450 and reverse or reach the 1.04860 and take out sell stops before a major reversal up.

What do y'all think?

Sukkot, what you wrote is true, but if we don't bother or strive we'll not live which violates our basic instinct of 'Survival First'.

I agree the world has no meaning in of itself except for the meaning we attribute to it, that's why people call religion, careers, talents their purpose, to live a fulfilled life we have to submit to a purpose else you'll just go 'hitler' on everything lol.

Last week was bloody, lost 2.5%.

Forex, Hospital, Thoughts, Moving Cities, Single Player Game, Data

Forex

I've been working my ass off learning ICT concepts, shit's so vast and the guy keeps on posting new content everyday, I realized I don't need to know every model now, I just need to find a concept that matches my personality and then back test it.

Studying can get complicated easily because you'll feel like you have to know everything, the same thing happened when I was learning to code, it's hard to know when enough is enough.

I like the 'London Kill Zone' concept, it sync with NG's time and it's also in the morning, you have fresh eyes and a free mind to read charts and execute trades, but I'll definitely finish up my recommended video list.

Hospital

I was able to go to the hospital for check up, I run some tests and they said there isn't STI in my system also my internal organs are at their optimal, he wrote some drugs and injections which I took, the only ish right now is I urinate like mad, up to like 10 times a day which is craazy, I'll have to go back probably next week.

Thoughts

I think I'm an optimist and I try to see the good in the bad all the time, I don't let the bad times define my mood, it's not always so though, bad times makes me feel bad sometimes because I'm a human being like everyone else, but I haven't felt like that for a very long time.

Because I'm always aware of what's going on in my head, I take responsibility for how I feel, no one can undermine your self-esteem if you don't allow it.

I realise I can change everything I don't like about myself if I put in the work, that's how I build healthy thoughts, why will I feel bad when I can change what's making me feel bad?

I don't like my body -> Work out and get a sexy body.

I'm broke -> Learn a skill and start getting paid, get a job, start a small business.

I'm lonely, I don't have a girlfriend -> Stop being a dork and go talk to fine girls, get rejected by 100 girls and get the 101 to say yes.

I masturbate -> Understand why you do it, try and quit, fail, do it again, fail and win.

We are our biggest enemies, sometimes we actually know what to do but we don't do it, you deserve your thoughts and whatever you go through.

Moving Cities

We travelled to a nearby city to celebrate Sallah, feels good to be around family and childhood friends, I'm having fun, Sallah's great, ate whole lot of meat and food.

I'm beginning to like this city really, my family will be traveling back next week and I might stay back, it's a big house and I'll be alone which sounds nice because I'll have an ample time to focus on improving my Forex skills, I'm still deciding though.

Single Player Game

So I was listening to Naval's podcast and he said something that resonates with me so much.

In his words "Life is a single player game. You’re born alone. You’re going to die alone. All of your interpretations are alone. All your memories are alone. You’re gone in three generations and no one cares. Before you showed up nobody cared. It’s all single player"

This is deep, it pays YOU to focus on what makes YOU happy and fulfilled, you only live once really and no one cares about you.

If you're unhappy, having a bad day or bad thoughts creeping in your mind, you're the only one suffering really, if you hate where you're and you can't change it, it's still your suffering, forget about others, they'll be fine, shine the torch on your life.

Data

Last month I decided I want to know more about myself, things I'm good at, what I struggle at and other stuffs, I started a daily journal on how I spend each day, wins and losses, it was painful to do because most days turns out to be the opposite of my expectations but I persevere and execute everyday, month ended yesterday and I sat down this morning and analysed it, found out where I performed badly and also where I performed great, feels like I'm back in school and my score card is handed to me, I'll definitely do it again this month and it makes you accountable because you want your wins to outweigh losses everyday which pushes you to do things that moves you closer to your goals everyday.

Go and do some winner shit, you lack action in your life that's why you feel like this.

Start a company.

Lift weights.

Go to a neighboring state and explore for a week.

Go talk to some fine chicks.

When you do any of this, you'll build your self esteem and that will make you more confident and assertive in public which in turn will attract people towards you.

I cut off all my friends this year to focus on my goals, friends are not the problem, you are.

What's up guys, anyone here learning or trading ICT concepts?

EmmanuelVi:
Okay, that's interesting...even though I see RSI and MACD on your chart😯

Lol, isn't it ironic

MONEY247:
I love forex trading
Forex forever
Forex till I die, .....

This candles gonna make me travel the world over.....

Vida Loca

greatcheer, read Mark Douglas 'Trading In The Zone' it'll change your outlook completely on Forex.

Or if you're a visual learner search 'Mind Over Markets with Mark Douglas' on YouTube.

Decisions, Staying Disciplined, ICT, Self Awareness, Modeling, TFT

Decisions

I was at a cross last week, I had to make an important decision, it was overwhelming to say the least, when I'm making decisions I like to stay still and not do anything till I make the decision, so due to that my productivity took a hit, I contacted a group of entrepreneurs group I'm in for help and I was told I was just being a pussy and my problems are too small that I should just shut up and get back to work, and everything clicked.

Honestly, my problems are small , the only time I had major changes in my life was when I put everything on my back, I took huge responsibilities and I still delivered, I actually have nothing to fear at all.

I made the decision and also learnt something new about myself.

Staying Disciplined

Y'all know about my struggle with Porn and Masturbation, I'm on a streak right now for about a week and I'm still going strong, what's behind that is nothing but self awareness, whenever I feel an urge to fap I'll admit the thought to myself, 'Winner, you feel like masturbating right now' and it will just sound dumb to my ears and I will not do it.

I'm also staying consistent on other parts of my life too, working on my Forex skills, working on my mind, improving my fitness and diet.

It's just a 'Domino Effect' when I don't masturbate, I feel energetic and get shit done, emotions follow actions.

ICT

I graduated from Babypips.com like a week or two ago and I'm currently learning the ICT concepts, I have a study guide I'm following and everytime I watch his videos and go to the charts and practise I just marvel at his accuracy, I'm planning on watching those videos 50 times, I'm an extremist, I prefer to go beast mode on stuffs that work.

I just got started but I've backtested like three different setups and they are all great, I still got like 20 videos to go through.

Self Awareness

I've read Eckhart Tolle's book 'Untethered Soul' a long time ago, I practiced for some days and abandoned it, this week I started practising the concepts again, just self awareness or introspection if you will, and the mindset shift is crazy, I can feel and admit to myself any thoughts that comes to my mind.

When you can control your thoughts, you are one step close to nirvana, haha, just joking, but thought control helps with focus and discipline no doubts about that.

Everything starts with a Thought -> Actions -> Results.

If I can maintain my current state of mind then I'm good.

Modeling

My life is a fragment of many people, I modeled my fashion sense from other people, I modeled my knowledge from reading other people's work and books, I modeled my body from someone else's workout plan, I modeled my eloquence from listening to other great speakers.

I think I need to learn how to do it even better, it's crazy to say but whatever you need to be someone is already that, okay, I want to be a multi millionaire, someone is already one, I want to have a sexy athletic body, somebody already has.

All what you have to do is do what they did, go read books they wrote, go listen to the words they say, go learn how they behave and model that.

I'm just realizing this too, whatever I am now, it's a model of someone else, not exactly though, maybe with a little tweak here and there.

I don't listen to people that tell me to be myself, because myself used to be a fat ass loser that can't even do two pushups and run to save his life, my life changes when I began to 'Model' whatever I want to improve on.

TFT

I got disqualified from the TFT competition I was in due to max daily drawdown, lessons learnt, I don't think I'll be partaking in any competition yet till I hone my skills, so yeah, back to demo trading officially.

Way to go man, let's see how it'll play out.

So guys I got disqualified in the ongoing June TFT competition because of max daily drawdown which was surprising, I held a Gold trade for about a week, I thought daily drawdown is calculated based on initial balance only, I felt uneasy when I got a mail from TFT that I breached a rule when I'm up 5% already, so I sent them a mail and their sweet customer support explained everything in details, man TFT rocks.

I also don't think swing trading is ideal for prop firms, because most of the times price fluctuates when you're swinging.

Putting this out for y'all to take note.

RKTexpert:
Pheew

Succinct.

Petah:
To calculate pips on gold
1984.726 You know your decimal place.
1 = ten thousand pips
9 = thousand pips
8= hundred
4= ten pips
That's their place value. Which means if you take an entry for buy
let's say 1965.4
You want to set 20 pips stop loss just minus 2 from the last number before the decimal place. I.e. 1963.4 stop loss, and 1967.4 for take profit.

For Eurusd or others that have five decimal numbers,
Count from the first number after the decimal. The first number is the position for thousand pips, second hundred pips and third ten pips.
You take an entry buy let's say on EU 1.07254
Stop loss = 1.07054 for 20 pips stop loss
Take profit = 1=07454 20 pips take profit.
Hope this helps.

Thanks for the explanation, I appreciate.

MONEY247:
You can still re-check baby pipseor better still
Go to your tool box on the meta 4/5 platform i.e the tripartite symbol of (triangle,box and circle) ...
Pick your arrow tool and drag from your point of entry to either the point of sl or point of TP....
As you move the arrow tool, the corresponding amount of pips would be reflecting at the top of y your meta platform.
Ignore the last number, thats how you calculate... without stress.

Thanks for the explanation, I appreciate.

Hello guys trust y'all having a good day.

Please I need some help on how to calculate pips accurately, I searched on Babypips but couldn't get the hang of it.

I took some trades and I'm contemplating whether I used 10pips stop or 100pips, below is the picture of the trades, how can I calculate pips from my entry correctly?

Dealing with failure, Forex, Family's everything, Learning To Be Good

Dealing With Failure
I wonder why life isn't a straight line, why do I keep on falling back to my old ways? It's obvious being this way don't help me, why do I keep on doing it? I've been masturbating for long, I've tried to quit several times but I just can't seem to find a way and like a domino effect, when I masturbate, I can't pray, I get distracted and I just feel lost completely.

I hit my weekly goals on exercise, studying Forex and savings but I relapsed again and it made me feel like all what I've achieved was in vain.

Masturbation don't actually make me feel less confident or awkward, I just hate that I do it, I can't be beating my meat bro, nah, that shit's absurd, I'll try again one more time, seems like whenever I'm stressed the feeling to do it creeps in, and is it possible to live without stress as a human?

Forex
I've made mad progress this past week, I'm just a few lessons away from graduating at school of Pipsology, my knowledge has increased, I've also entered a prop firm's competition and I'm up 7%, goal is 20%.

I was up 1am the other day studying and I was just pondering about all of the freedom this skill can bring to it's master, like I can be at LaCampagne Tropicana sipping coconut water while placing trades and that's a big flex bruh.

Family's Everything
My Dad's came through for me again, I swear to Allah that man is the reason I'm putting in work bro, I want to take him golfing and buy him an Audemars, my mums too, these guys are everything to me even though shit gets hairy between us at times, even though I've been a naughty child but they still put up with me, I count them as a blessings.

Learning To Be Good
I've been a bad boy my whole life, lied, cheated, took advantage, manipulated and use others, it's always a trauma for me whenever these nostalgic feelings pays me a visit, I want to make an amend and be good.

I've been on the other side for too long, I thought it's easy to be good, it takes discipline to be good when you can actually do the opposite without any consequence, I've read Jordan Peterson's book '12 Rules of Life', seems like a good start.