CopyJoe:
FOMC

About 40-50 pips move on some pairs.

About 90+ pips move.

From my study of news,

Highest move of pips on currency pairs is about 80 pips.

Forexislife:
Lol, I didnt even remember there is FOMC. Lucky me

CopyJoe:


You better TP. The news favoured you.

Forexislife:
azin ehn, I totally forgot about the news can you imagine me. I took a buy based on the chart. See chart below.

CopyJoe:


Were you scalping?

samfelly:


Na scalping I take learn o. E still dey my blood like kilode. Old habit die hard. I am trying my every best to be using HTF, but still find it hard to learn it well

CopyJoe:


Structure.

CopyJoe:


Unless you have a huge fund, I won't advise you to train yourself in that manner.

You must be very good to be a scalper.

If it works very well for you, continue.

Your records should show you if it's profitable or not.

CopyJoe:
Gold sell, Sell limit - 1790

SL 1792

CopyJoe:


Cure it with demo and a passion to succeed in this business.

Boss infofirst told us earlier this year to practice with demo.

Treat it like a live account. Don't go live until you make good progress.

Forexislife:
yop. Closed with 65 pips. 0.01 lot, nothing serious.

Forexislife:
good advice but I didn't learn with demo sha. I am learning currently with live. And yes I have blown accounts

Feshizzy:
if you tested your strategy rigorously
news shouldn't scare anyone really.
most times na scalpers dey fear news.

i have learnt that technical is stronger in forex than any form of trading thus can be easily manipulated.
only rare events like black swan can really do serious numbers
i'm referring to currency not commodities like gold etc

CopyJoe:


You be boss na. Learning with gold.

Feshizzy:
if you tested your strategy rigorously
news shouldn't scare anyone really.
most times na scalpers dey fear news.

i have learnt that technical is stronger in forex than any form of trading thus can be easily manipulated.
only rare events like black swan can really do serious numbers
i'm referring to currency not commodities like gold etc

CopyJoe:
Cure it with demo and a passion to succeed in this business.

Boss infofirst told us earlier this year to practice with demo.

Treat it like a live account. Don't go live until you make good progress.

My broda, Demo dey show good result, but Live na something else

Anyways, we go LIVE again - wif the remaining $3.08 (it is not blown until it is $0.00 balance

Forexislife:
Lol. I actually started with all currencies and gold, gold showed me shege but I loved the volatility. Currencies are too slow for me and frustrating so I stuck with gold and kept going on live account. Lost a lot and almost blew my current account but Thank God I got small balance.

When I move this current account to 1k USD, I'll fund extra 2k and see how it goes.

samfelly:


My broda, Demo dey show good result, but Live na something else

Anyways, we go LIVE again - wif the remaining $3.08 (it is not blown until it is $0.00 balance

Forexislife:
good advice but I didn't learn with demo sha. I am learning currently with live. And yes I have blown accounts

Blowing of accounts is our hobby, abi? . If I wan go Demo, e go bi contest demo account. At least, I'll be Demoing for a prize

Feshizzy:
if you tested your strategy rigorously
news shouldn't scare anyone really.
most times na scalpers dey fear news.

i have learnt that technical is stronger in forex than any form of trading thus can not be easily manipulated.
only rare events like black swan/ flash crash can really do some serious numbers
i'm referring to currency not commodities like gold etc

How u take dey know? Although, recently, I don dey trade news - YOLO adopted o

samfelly:


Blowing of accounts is our hobby, abi? . If I wan go Demo, e go bi contest demo account. At least, I'll be Demoing for a prize

Forexislife:
Lol. I actually started with all currencies and gold, gold showed me shege but I loved the volatility. Currencies are too slow for me and frustrating so I stuck with gold and kept going on live account. Lost a lot and almost blew my current account but Thank God I got small balance.

When I move this current account to 1k USD, I'll fund extra 2k and see how it goes.

Forexislife:
Had to deal with the emotions of trading once and for all. Demo na cruise IMHO.

samfelly:


Omo, dis ur write-up don give me added encouragement. I no even dey send again say I dey blow account. If the best of the best traders, today, blew accounts, yesterday, na me go come dey give up now and throw in the towel? No way! Instead, I go squeez the sweat from the towel, dry the towel, and reuse it again

samfelly:


It is a bigger FACT. Demo na big cruise joor. If I dey trade Demo, I no dey fear. But as for Live, see fear; see shaking; see emotions from every angles.

I don't know how to really put dem in check. Even if The-Man-That-Sees-Tomorrow tell me say, "Tomorrow the market will Buy all the way." My broda, if I buy, I go still dey fear - irrespective of the assurance that the man has seen tomorrow.

Forexislife:
Lol. Start with 0.01 and stick to it, you will be tempted to increase it if you make consistent gains but na lie oh, na trap. I made that mistake and paid dearly for it. Emotions on live account is different from demo 100%

So use live account but be ready to lose it all, stick to 0.01 for a long time and find tour edge. Keep learning cos it's a long journey. Even me is still in that journey. Goodluck man

samfelly:


Evening, bro. It's good to be back here.

Market don show me its other side, some days ago

$3.08 left

samfelly:


How u take dey know? Although, recently, I don dey trade news - YOLO adopted o

samfelly:


Omo, dis ur write-up don give me added encouragement. I no even dey send again say I dey blow account. If the best of the best traders, today, blew accounts, yesterday, na me go come dey give up now and throw in the towel? No way! Instead, I go squeez the sweat from the towel, dry the towel, and reuse it again

Forexislife:
that is live account for you. The emotions dealt with me and I almost gave up. Let the market beat you but while at that, learn to accept losses as part of the game, if you can do that and not shake, you will overcome the emotions.

While I traded live account, I also had a demo where I took every trade I took on live, guess what, I closed my trades on live account early and left the demo running, the demo grew faster cos it was demo and I had no fear. I had to stop the demo and face the live squarely cos I was always comparing both and that brought anger and loss of confidence.