nzechu:
meaning u are new here, that's fundednext competition. The 1st to 3rd position is shown there on the competition

thanks

.

Oil price now traded at 78.01 at the time of writing, oil price rise because both OPEC and the IEA released reports pointing to strengthening global oil demand growth. Currently, oil price is moving close to the lower band which is dynamic support for the bullish market, the price is also close to MA 50 which forms an ascending line.

BUY CAD/JPY!!!

wuyexzy01:
BUY CAD/JPY!!!

EVERY RETRACEMENT IS AN OPPURTUNITY TO BUY.

wuyexzy01:
BUY CAD/JPY!!!

supported, long term buy

nzechu:
supported, long term buy

I never even start to dey buy.

Let's try this on Audchf. I've been agressive on this trade by opening an instant buy at the current market price with 1:1 RR... Conservatively I ll be watching the price to tap into my TL, wait for a price action confirmation and I ll add to loosing position... If the TL failed to hold, then SL will do it's job 😉

Nearly missed this. I just spotted it this morning and I got in. Thankfully price hasn't moved far away from my optimal entry area.

Samfelly abeg do the remaining $2 to equate your profit to exactly 10% on the Situp challenge. There is a divergence between the Growth column and the Profit column. Just Incase you didn't notice sir

GabsonFX2:
US30

Davigle, did you see US30?

I will be on a standby on gold, US30 and USOil this week. No trade.

Same here boss. All the retracement I was expecting price to make didn't happen b4 CPI did it thing

Eur/gbp looks good for a SELL. Apply proper risk management

GabsonFX2:
US30

Davigle, did you see US30?

I will be on a standby on gold, US30 and USOil this week. No trade.

I definitely agree with you sire, even currencies took out the previous week high in one day due to CPI. I am also on the sideline as well, although I still haven't mastered sitting out of unclear market conditions as you boss, but if do get tempted to take a trade this week, I will be using the lowest risk because I don't want to give back the profit I made yesterday...

nzechu:
its just forgetfulness sir. U know I would HV been thanking my God if d trade didn't play. It is wat it is sha. We making progress though, even though little by little

If you are marking up charts and not executing, you are moving backwards.
Wins and loses are randomly distributed, which means if the ones you don't execute ends up being your profitable setups, chances are the ones you execute will be the losing trades.

Taking only losing trades will affect your confidence, which means you will not take subsequent trade that will end up being a winner...it's an endless loop.

Instead, reduce your risk and execute all your A+ setups.

Ibrahimlagosian:
That's because they're just gambling, sometimes,I feel something fishy in these competition.
There was this Nigerian guy with over 80% profit on gold but the total lot is more 70 lot.

when you realize that the competition account will expire after 30 days that is when you will know that it is pointless treating that account like a real account

The power of CPI

Gold

Feshizzy:
In this fx business,
Thanks to prop firm,
You can live comfortably fine with just 1% monthly,
Don't let all these competition make you think you are not doing your best.

Just do your best and keep your DD lowest as possible.
The profit would take care of itself

Regards

1% per month means you have to spend 15 months in evaluation stage before you get fully funded

Stock indices

LincolnOnyeabor:


Omo!!!


I don forget my Funding Pips competition Account self.



But that guy way dey second way dey trade GU, how did he get there bikonu GU that has been ranging since when, how abeg??

Bros btw Mon & Tues alone, GU has already done 300 pips. That's $15,000 @ the competition max lot of 5. So imagine he now added 4 other pairs.

It is all about timing.

Emmizay12:


Your problem is fear of losing,
Your journey to profitability is still far, no offense

You have to graduate from being afraid of losses to being angry with losses, to being mentally defeated by losses, you will surrender to losses and then finally you will learn that losses is the key to profitability.

How do I know ? Because the only 100% gaurantee I can give you in this business is that you will lose

All of this comes with absolute dedication and passion to learning forex

This is less talked about in trading. You always hear you need to backtest your strategy for x amount of time, but no matter how long you backtest and collect stats, you will still trade like a c*nt when you forward test.

Your real edge is developed during forward testing.
Journal, review and try not to repeat each mistake.
There is nothing wrong with you in this phase.

And please don't strategy hop in this stage, if not you will continue in this endless loop.

TradingGod:


1% per month means you have to spend 15 months in evaluation stage before you get fully funded

🤣😂

kozmicity:
Nearly missed this. I just spotted it this morning and I got in. Thankfully price hasn't moved far away from my optimal entry area.

It hit SL🥲

main24:


This is less talked about in trading. You always hear you need to backtest your strategy for x amount of time, but no matter how long you backtest and collect stats, you will still trade like a c*nt when you forward test.

Your real edge is developed during forward testing.
Journal, review and try not to repeat each mistake.
There is nothing wrong with you in this phase.

And please don't strategy hop in this stage, if not you will continue in this endless loop.

Funny enough, after backtesting for about two weeks I realized that your strategy only fully forms when forward testing. I've told my friends that you don't need to create a strategy before you start trading. Instead choose one out of the myriad of strategies out there, trade demo with it, notice it's limitations, tweak it (with respect to risk to reward ratio, frequency of trades, number of pairs, timeframe.e.t.c...) until it becomes what you want, repeat over and over again.


But then again😁 they haven't said it but I know they're waiting for me o become profitable first then I show them the way. 🤣 Honestly I can't blame them, but I've also told them that when I start making money from forex, I no go teach anything again.

It's only fair💯

kozmicity:



Funny enough, after backtesting for about two weeks I realized that your strategy only fully forms when forward testing. I've told my friends that you don't need to create a strategy before you start trading. Instead choose one out of the myriad of strategies out there, trade demo with it, notice it's limitations, tweak it (with respect to risk to reward ratio, frequency of trades, number of pairs, timeframe.e.t.c...) until it becomes what you want, repeat over and over again.


But then again😁 they haven't said it but I know they're waiting for me o become profitable first then I show them the way. 🤣 Honestly I can't blame them, but I've also told them that when I start making money from forex, I no go teach anything again.

It's only fair💯

You don't even need to, they can't catch up with you.
Even if you teach them, they will still need to go through the go-through by themselves.

kozmicity:



It hit SL🥲

Bro is your S.L tight. I just added to my position. Very RISKY though cos of news at the corner.
I dne close both position at a loss. CPI must not be allowed to turn against one's position na village.

kozmicity:
Nearly missed this. I just spotted it this morning and I got in. Thankfully price hasn't moved far away from my optimal entry area.

Koz,
why do you use the rsi on your chart?

wuyexzy01:

Boss is your S.L tight. I just added to my position. Very RISKY though cos of news at the corner.

There is no such thing as that. Each trade should be based on your rules.
Which should be a logical place/structure.
If your system gives you a trade with 5pips SL, don't change that to 20pips just because you feel it is tight. And vice versa.

pristinee

Maven don finally bow to pressure with their careless rule.

That marketer go dey form busy, he no go quick update the group.
But to post link no dey hard am.

main24:


You don't even need to, they can't catch up with you.
Even if you teach them, they will still need to go through the go-through by themselves.

You have said exactly what I said some days ago, at the end of the day the key to profitability is you yourself. Whatever you learn on the charts or whatever lesson you learn from your losing or profitable trades will never be forgotten.

main24:


This is less talked about in trading. You always hear you need to backtest your strategy for x amount of time, but no matter how long you backtest and collect stats, you will still trade like a c*nt when you forward test.

Your real edge is developed during forward testing.
Journal, review and try not to repeat each mistake.
There is nothing wrong with you in this phase.

And please don't strategy hop in this stage, if not you will continue in this endless loop.

Then you clearly don't even grab the concept of backtesting.

Backtesting is to test the profitability of a strategy, the frequency of trade, period of trade, expected ROI, refining TP/SL, confidence of trade, experience of trade, shorten learning time on trade, expected and accepting trade loss.

Even after all of this
You would still trade like a c*nt.
it's on FT were you train discipline, you don't learn that in BT,
You also train patience on FT, and increase trade confidence.

I can simulate 3 years worth of data on BT in a week,
If you do that in FT, you won't even do 3 months on FT before throwing away the strategy.

Anyways, do what works best for you.

Regards.