₦airaland Forum

hansomb:
Wait when you get the device and u discover any problem then you can ask for help.

I just want to know incase it's a bad road

hansomb:
Don't be faster than your shadow.

Explain sir

cybertron88:
If u must go the prop firm way pls avoid monthly subscription. Try buying a challenge were u get to prove ur self by meeting thier profit targets in two stages to earn the funded account. Avoid blufx unless u feel u can trade with a 1:3 leverage which to me is useless. I LL rather trade my $200 acc with 1:200 leverage than trade a leverage so low on a $5000 acc where I need to make 5% and still split profit and pay monthly subscription. It's like am working all month for d prop form. Like someone pointed FTMO they have been long in business and have d reputation of consistent payout. Funding talent is also very popular now with less strict conditions, my forex funds is also very good with low profit target but u must trade for a minimum of 10 days. Am currently with trader central funds and the journey has been very good so far.

Your thoughts
Getting a monthly access account with 1:6 $12500
With 5%min profits for splits
Isn't it better in Sims way if you're good and can make up or more than the 5% a month?

teemy:
I was about o, naso my client give me contract and said I should ignore them. Though, he gave me his own version of a challenge which I am working on now.

Okay

teemy:
Tip
If your strategy has your trades going in positive soon after your entry but later ending up in loss afterwards, you might consider wether your strategy would be put to better use for binary options trading.

Prop Firms List You could Consider
https://thefundedtraderprogram.com/
https://the5ers.com/
https://luxtradingfirm.com/
https://myforexfunds.com/
https://www.audacitycapital.co.uk/
https://theproptrading.com.au/
https://blufx.co.uk/
https://www.myfxseed.com/
https://www.trendfollowingsecrets.com/

Boss Teemy, have you worked for any with direct funding option?

Someone should add me too
I think I prefer a group
+2348156004558

GabsonFX:
Congratulations to me and the entire team of FTA!

I just won the 1st stage of the challenge! All trade closed on the account; I will be moved to the 2nd stage I think in 2 business days.

Congrats boss
Keep winning

TAGM:
It seems gold is preparing to go completely bullish .

If gold was to obey structure, the next bullish wave should be massive

prettyboey:
The chart I shared...

I saw the chart but the chart says nothing about the move. I can simply pull up a chart and pick any long-term bias but no basis.
all I am saying is that, in the long term what is your basis for such a move?

prettyboey:
this is what am anticipating on CHFJPY....it will take weeks to play out I think

what's backing your view?

Donvic4u:
Buy from someone that wants to sell, that's how I paid for mine... forget about any rubbish ban..

Oga Don, Abeg you have you signed up with funding talent?
make I know more on them?
if possible your research on them

why is there strive for foolproof Strategies and perfection by retail traders?

is just funny how people bring all sort of stuff just to look smart and foolproof
the other day, I saw someone indicating when BOE, ECB, BOJ and the rest open
will that help?
too much information and sometimes unnecessary

WAVESANDGOLD:
if you mean something like the below. Join the telegram group
@Forex_Livestream

where do they get this from?

akeensbussy:
EURGBP SELL.... daily chart
broken trendline....highly profitable trade

Do you think trendline is prominent to this market structure?
just asking seeing the nature of the structure.
or are you forcing the trend line on the market?

boom99:
EURGBP SELL... 90% SURE BUT A DEMO TRADER

that remaining 10% is greater than or equal to the 90%
more of 90% sure and 100% not sure

IMAliyu:
4h

Big bro @IMAliyu which of those levels you want trade from?

akeensbussy:
Why would u be selling cadjpy? Buying now

But you no drop am sha boss
What if e no been buy, you no for tell us

Gasive:
I had a bull bias before but those multiple rejections at the top may be a sign of no momentum.

Here's what I see now, but a break above 1910 will nullify the analysis and confirm the bulls.

actually favour bearish bias, but was bullish before.
minor uptrend in a major downtrend.
also, remember I said I was bullish but recent push up hasn't created new highs.

we monitor it for any change knowing how gold dances to happenings, things can change

holarindey:
I trade GU/GC only and it works for me. Focusing on 5-15 pairs and metals will be too much for me�

I'm more into trading of many pairs.
when I started, I had issues, in the sense that:
1. I traded using 1 hour timeframe in particular and missed setups because, I can spend up to 30 Minutes flipping through the pairs at it was not easy keeping tabs on them.
2. many pairs equals many setups and a bit of correlation.
which do you go for?
there's solution for those.
1. Higher timeframes
2. splitting max risk by number of setups

currently I trade major USD pairs, major EUR pairs, major JPY pairs and AUDNZD (my fav)

djwalata:
Eur sold off in all its pairs. EurUsd closed on Thursday at 1.2215 Opened on Friday at 1.2136 Friday's high at 1.2227 Low at 1.2025 Closed at 1.2134

your Friday high is lower than the open?

Harnytee27:
Most traders on this forum are technical traders,ain't we incorporating fundamental analysis to our trade

I can always update fundamental news of major currency at will

it'll be appreciated.

hopefully it should give bias as technicals give.
cause at times fundamentals is all about talks.

Shevychen2:
Some random pointers for the new year. (may not appeal to everyone though):

-Your stop loss is useless if you don't practice proper position sizing. What will happen to your account if a flash crash jumps your stop loss and sends your positions to -2000 pips negative? Position sizing goes beyond saying I risk 2% per trade. How much have you exposed to the market, even without a flash crash? If you'll lose more than a combined 10% of your account if all your opened trades ends as losses. That account may not last long.

-Ditch conventional indicators. Especially all those shiny arrows that are all based on moving averages.There is a 99% chance they won't work for you. You'll keep running around in circles with them until you either quit trading or you dump them.

-Embrace higher time frames. This is even more important now that sharp intraday market swings are common. You'll find your trade 70pips up, then one tweet or one news sends it back down to -40. On the higher time frame (daily, weekly, monthly), the big picture move will continue after the effects of that tweet or news has cleared. Seriously, if you learn how to look at the big picture, you'll be unstoppable. However, what qualifies as big picture will vary from one person to another. You also need to make sure your strategy always reacts quick enough to major trend changes even when you trade higher time frames. This part is tricky, but when you nail it down, you'll know.


-Don't pay too much attention to correlation. Most forex pairs are correlated somehow at the end of the day. Even if you choose to trade only GBPAUD, CHFJPY, and EURUSD, they are still correlated indirectly. Instead of avoiding correlation, embrace it and spread your risk properly.

-Don't trade one pair. That's giving too much power to one instrument. Your account will literally depend on how that instrument moves. Aim for around 5-15 pairs and maybe (if your account can carry it) 2-3 metals and the two major ndices in your watch list. The currency pairs should be decent movers that are not too volatile or too slow. Like USDZAR, EURGBP, CADCHF etc. The slow ones will move 20 pips in one week. The volatile ones can have 30-50 pips spreads.
As you get more entries from your list, close out partial positions to balance out your overall risk exposure.

-You won't buy skyscrapers with your less than $1000 account in one year. There's a higher chance of crashing it if you want to push the limits and make as much money as possible. You need at least $100k to start dreaming about using profits from one year of trading to build houses and that's assuming you have a strategy that will allow you make 50-100% of that every year COMFORTABLY without panic, fear etc tampering with your trading results. Of course you can find some Chinese guy or something that turned 1k to 1m USD in one year from time to time.. Can YOU do it?

With solid medium risk trading, it will take at least 10 years of compounding to convert that small account to something big. Unless you show skill early enough and start focusing on attracting investors (always the best way to go).

Remember, these pointers are not for everyone. Pick what you want, discard what you don't like. I don't have power to argue anything o. Happy New Year to everyone.

much attention to higher timeframes
less focus on correlation
I have read those well

Happy New Year to you all may the pips be for us

Make person create FTA 21

Pipsbasketings:

Overfamiliarity with charts will, at some point, make you feel no strategy actually works, then makes you return to point 1 and start to search pdf, YouTubes, forums for a better strategy. It has its way of dealing with one's trading psychology.

........

salient advice

all these people that come here in a flash and say here is not the best place to learn, the teach and supervise FX training, I just wonder.

What do they really teach?

all these shout of professionals and professors of trading, professional traders.

What really makes you a professional?

it would have been easier for our friends with good risk to reward ratios and fantastic profits to come in here and debate that risk to reward is principal.
it would have been easier if they told us they can't win 7/10 trades, then we'll Understand where they're coming from.

beezyblaze:
I know a few people will come with unnecessary questions now to tackle me.

I didn’t start trading yesterday.

And this is the first time I’ll ever hear traders who claim to be profitable say ‘Risk To Reward Is Not Everything’

I’m seriously laughing here.
I’ve never heard such in my entire life of trading.

RISK TO REWARD IS EVERYTHING.

Even 1:1 risk to reward isn’t entirely advisable.

You dont need to have the best strategy.
There’s no holy grail strategy.

The only way you can beat the market is to cut your ‘losses fast and let your winners run’

Let one of your winning trades cover about 2 or 3 of your lost trade.

And the only way to achieve this is to have higher Reward than Risk for every trade.

I’ve seen a 30% - 40% win rate strategy still come out profitable in the long run.

And 70% win rate strategy accumulate losses

Trend following strategy has a 40% win rate, yet traders make alot of money from it.

Why?
Because one winning trade can give you 1:7 risk to reward.

The best way to let your winners run is to trail it.

Example is an image below.

Don’t let anyone deceive you in this market.
Please beginner traders, please don’t learn with the mindset that Risk To Reward doesn’t matter.
Please i beg you.
It’s a lie.

RISK TO REWARD IS EVERYTHING !!
RISK MANAGEMENT IS EVERYTHING !!
PROPER POSITION SIZING IS EVERYTHING !!

Never ever ever place trades where your stop loss is larger than your profit target!
NEVER!

with very big respect to you and your blurred profits, risk management cannot be everything. will never be everything.
risk to reward cannot be everything. will not and never be everything.

just funny the authority you use to type those!!!

Risk to Reward alone tells nothing Win Rate alone tells nothing Pips Won alone tells nothing.
simple truth Low RRR + High Win Rate = Good High RRR + High Win Rate = Great (Very ideal combination) Low RRR + High Win Rate = Good Low RRR + Low Win Rate = This is where the tears start dripping.