Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 4:36pm On Jun 23, 2023 |
saintelvnn:
5% of a $10 account that's is 0.5$, now let's say you're risking 0.5$, that means for every trade position you open with 0.01 lot size you're putting your stop loss 5pips away from the market. Do you see why it is not practical for most of us that are struggling? Even if your TP is 50pips, you will get stopped out almost most of the times...
If you want to make money it isn't applicable at all but if its just for practice sake then one can open account with mini lot size and trade with 0.001lot size...
I use 20% when the volume of the market is crazy especially during NFP & CPI... Still rrr is 1:2 so even with 40% win rate I'm still profitable man at the long run man.. So why not save up for a $100 account since you're taking it as a business you actually want to make a steady income from? 20% on high volatility? Beats me! |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 4:30pm On Jun 23, 2023 |
dottozil:
That's my problem now jumping into trades early but I did see a confirmation of buy at daily time frame infact I no understand wetin I dey see again Calm down bro, always expect to be wrong on any given trade (it's 50/50 per trade), and then be ready to flow with the market's tide. If you hit a strong wave, raise your head and observe, if there's really a new direction, swim in it then. If the flow is just chaotic, turn off your engine and wait out the storm. 2 Likes |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 4:17pm On Jun 23, 2023 |
OfficialP:
I think we might see 9055 first Yeah well, what da ya know, I could be wrong๐ but I'm holding my shorts down to 0.8867 save the market says; "son, I'm not going that way, no, not today"๐ |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 4:12pm On Jun 23, 2023 |
saintelvnn:
Lolz true sha
But all those 2% na oyinbo talk, we all know that we are in Africa, person Wei work go see money fund account 50$ even 10$ sef how you expect am to risk 2%, hunger go finish am.....I am risking within the range 10%-20% with 1:2rrr till I get like 10k account before I fit reason 2%... I think a maximum of 5% risk per trade is actually practical if you're thinking long term in the markets (without burning out you initial capital), even 10% in some cases (depending on trading style), but 20%? well I leave it to you man. |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 3:05pm On Jun 23, 2023 |
greatcheer:
are you for real? is this the lot size ur using on this account![](/faces/huh.png) Lols๐๐ Dear trader, you see that "go big or go home" thingy ehn, no be for Financial Markets oo. Always start small, then continue at that same pace, till when you become a Professional trader; then, go even smaller. What I means is this, if as a beginner or part time trader you were using 2% max risk on a trade, when you become a Pro trader (trading becomes your full time profession), you should risk even less of your start balance per trade, like 0.5% max or even less. This may sound counter intuitive, but there's just no better way about it. Always remember that "the level of your emotional attachment to the outcome of each trade you take, is directly influenced by the value of asset(s) you're risking on each trade". So imagine you're risking too much and also taking on too much trades, that's literally a heart attack, and it will force you to react albeit to the detriment of your equity. In this trading business it's more often than not, a thing of "the more you look; the less you see", meaning, "the more you trade; the less you make". 3 Likes |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 2:34pm On Jun 23, 2023 |
dmahn: And again... I knew it was a stop hunt so I reentered my position. We really need to know what we are doing to succeed in this business. This week has been full of stop hunt. Ending the week in a loss but with a knowledge on how to reenter after stop hunt is confirmed... Not a good week but I'm glad ![cool](https://www.nairaland.com/faces/cool.png) Yeah man, I'm a witness to that of USDCHF. I shorted that pair 3 days ago from the 0.8987 level, I just opened up my chart late this morning to check on my trade and I was seeing one yeye long bullish candle forming outta no where๐๐ The only reason I didn't get towed out is because I traded off the Daily, but even at that, it just missed my SL order by about 3pips before continuing back down. 1 Like |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 2:20pm On Jun 23, 2023 |
skydweller1:
Thank you! I love videos too but Omo YouTube catalogue throws me on and about... I lack sense of direction, what and whom to follow, when to even stop following and devise my own means.... The Trading Channel is one YouTuber I've been following though I think he tends to be rigid sometimes and that deters me. The strategy thing is still something I haven't fully grasped yet... Is price action a strategy? I seem interested in both it and SMC (not sure I know the difference between the two other than their use of different terminologies) Price Action is not in itself a trading strategy, but a form of Technical Analysis; it houses several strategies. Smart Money Concepts are to my knowledge, a derivation of Price Action trading. 1 Like |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 8:39am On Jun 23, 2023 |
greatcheer:
lot size. your right. you got me here Right! So you know where the problem is; the problem is half solved. Just work on it, and you're good to go. 1 Like |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 10:30pm On Jun 22, 2023 |
dmahn: Brent Crude traders, I doubt if market will come for retest back to my entry but let's watch the pair tommorow incase it goes back to the entry. Let's sell with big lot and keep adding to loosing position... If our Sl hit, let's wait for an inverted hammed on H1 then we go full margin ๐๐ Lols...if only it was that simple, who for dey complain๐ 2 Likes |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 10:28pm On Jun 22, 2023 |
dmahn:
Hmn!! You are right. It's wrong to trade with borrowed money. The fear of not wanting to loose the money, the haste in looking for big profits so as to meet up with the deadline for repayment, and the failure rate in the industry will mess up ones psyche and push us into a terrible risk management situation. To win in this business, you have to make it a Plan B while you use your Plan A source of income to gain confidence. I've got 2 $100 logo job this month on upwork so why I go dey complain about Stop loss hit when no be the TP dey feed me at the moment๐
You've said it all boss, spot on you. |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 10:21pm On Jun 22, 2023 |
Swipa: When the winning streak ends And it happens to be the trade with your largest lot size on....are we still talking about just coincidence?๐ฏ |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 10:18pm On Jun 22, 2023 |
Finessetraders: XAUTrader4L2
hafa?
you still get hope for Gold buy? this setup i dey see so, if e break, retest, otilo Oppression! Market favour your side now, you no wan allow person with different bias rest. Let the poor breeaathe joor 1 Like |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 10:06pm On Jun 22, 2023 |
pijam:
You are barely 6months into forex. You shouldn't be talking about live account. Demo is what you should be using. I don't think that's the case here. I believe if she has the right coaching already and can follow the regiments strictly, then there's no better ground to to play than the live markets. |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 9:56pm On Jun 22, 2023 |
dmahn:
You are doing perfectly well..All these will be an history very soon. Risk management is the Holy Grail. I haven't seen any significant win this week as well. But all my losses pack together isn't even up to my last TP. A big win will come.. Just avoid big losses. Oh no boss, let's be real, she's actually not doing well. She just said she took a loan, to trade the markets, that alone is an emotional buster you know, it's a wobbly foundation to start with. I think she needs a clean break first, and then a fresh start. 1 Like |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 9:51pm On Jun 22, 2023 |
greatcheer:
hmm when will the pains n sweat stop. the market knows how to collect profits n capital join. am definitely not doing some things right I just tire.
If I may Miss, what are you doing on your personal account that you're not doing on the competition account? |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 9:47pm On Jun 22, 2023 |
unclenna: See my gold analysis....
I don't use indicator only price action, Support and Resistance, Fibonacci, Chart pattern... Okay, that's interesting...even though I see RSI and MACD on your chart๐ฏ 1 Like |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 8:06pm On Jun 21, 2023 |
So XAU pierced my 1936 support level down to 1919 to negate my earlier bullish bias, then ran back up to the 1936 level yet again...very funny instrument lol (the 1936 level is now holding as resistance, but can be easily flipped over again since there's no Weekly close below the level yet). So at the moment, I'm simply neutral on the XAU, pending further price action. EmmanuelVi:
Okay. Beautiful chart there, tells me what you're seeing clearly, your bias is valid to me; you want to get out of Shorts whilst I want in on Longs, I think that's fair enough. So for me, I'm just waiting to hear what Mr. Market would say; if it says go, I go. 1936 is the decision ground for me. 2 Likes |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 9:07am On Jun 21, 2023 |
Emmizay12: I think there is something fundamentally wrong with the human brain as regards forex trading
how can you patiently wait for a trade to hit stoploss, hoping it will become green
But there is no patience when the market is moving in your favour and hasn't hit Take profit
I mean if some trades are destined to be a losing trade and it goes straight to hit stoploss
definitely there must be trades that are destined to be winners and hit your Take profit
I took 3 trades yesterday, I lost the first 2, the 3rd one I jumped out quickly because I was sure it was going to hit my stoploss,, because why should it not? I had already lost twice
only to see that if I had just held, I would have cleared up the loss and even be in profits
I was so angry with myself yesterday.
all in all, I think the weakest link in our trading system is not the markets or strategy
but the human being Sound reasoning boss... It has and always will be a battle more of self than of 'weapons'. Nial Fuller would say...most of the losses we incur as traders is mostly, not due to the strategy we employ, but more as a result of "trader error". Unplug emotions and you'd see just how wonderful your strategy works over time. 3 Likes |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 8:59am On Jun 21, 2023 |
Finessetraders:
Be like that guy don mislead full community o... ![grin](https://www.nairaland.com/faces/grin.png)
Make we dey see sha
modified: behind the scenes Okay. Beautiful chart there, tells me what you're seeing clearly, your bias is valid to me; you want to get out of Shorts whilst I want in on Longs, I think that's fair enough. So for me, I'm just waiting to hear what Mr. Market would say; if it says go, I go. 1936 is the decision ground for me. |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 5:49am On Jun 21, 2023 |
wuyexzy01:
Oga can you look at silver and say u want to buy that one too. As much as I know dey go in tandem. Fat sell loading for both Gold and silver. Silver own dne ripe sef. Waiting for a retracement to 23.37 to take a good short. Toor, everything na base on say base on say!
unregretfully, I don't trade the XAG; but like I earlier said, I'm still awaiting confirmation to buy a counter-trend momentum move but if market says otherwise at the critical level price is at the moment, I'd change my bias to the short side. |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 5:34am On Jun 21, 2023 |
Finessetraders:
of course the markets will decide and i wish to be wrong.
if it's convenient for you, may i see your markup please? let me attune with your pov That's where I've got a challenge; NL just wouldn't let me upload photos. Modified: just found this on tradingview ideas and this guys analysis aligns with mine... https://www.tradingview.com/chart/XAUUSD/t0MhNWNI-XAUUSD/ |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 10:07pm On Jun 20, 2023 |
Finessetraders:
Check the monthly and weekly TFs if you should be looking for BUYS now. in my own opinion, the percentage success one would have looking for BUYS when price hasn't dropped to 1815 is 23% for TPs above 50pips
Wow! When was someone ever going to tell me I was looking at the wrong charts?๐๐ Aah well okay, I'm actually looking at the Monthly, Weekly and Daily charts and right now my own charts (don't know about yours๐) tells me that the Monthly..well that irrelevant to me at this exact moment, Weekly aha! has a critical level of support right at the 1936 area and the Daily, well, we can all see the Daily been playing about that area for quite some time now, try to break below it every now and then but failing every damned time (that should tell you how important that area is (well, to me at least๐). I was willing to go long after I spotted what I call a "direct counter momentum", but the Daily close of today's candle is unconvincing to me, so I'm still holding the Longs bias unless price breaks and closes below the 1936 region (Weekly close that is). So let's let the market decide...cheers. 2 Likes |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 6:28pm On Jun 20, 2023 |
XAUTrader4L2:
Nice argument. Quite a number of people are expecting that drop but so far for me, price is still in the bullish wedge. Till market says otherwise, I'm with you on the 'Long' side. 1 Like |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 6:21pm On Jun 20, 2023 |
Arcmida: seeing a bearish gold market , 2k+ kind of hard to accept by the market for now. I see longs tonight if the Daily candle of today closes as solid rejection from my Weekly support level 1936.6 to my 1973.0 Monthly resistance. That's about a 363 pip wide swing. |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 6:13pm On Jun 20, 2023 |
Alexdroh:
This man sleeps and wake with vawulence๐ค I swear down...lols... But na true sha oo |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 10:34am On Jun 18, 2023 |
OfficialP:
I don't know why people do it, but think about it, you take full loss when your SL is hit, but you take partial profits when your trade hits TP.
if one takes partial loss nd partial profits, then it's OK. but it's not OK to take full loss and partial profits. I couldn't agree more. 1 Like |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 10:02pm On Jun 17, 2023 |
samfelly:
NGNUSD, please ![cheesy](https://www.nairaland.com/faces/cheesy.png) Lols...they say "poor man's prayer be say; future go bright"...finish.๐๐ 1 Like |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 10:00pm On Jun 17, 2023 |
Tradinggiant: abeg if you read all this write-up come Summarize for me abeg.. My broda, I sidon with you dey wait kowai๐ 1 Like |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 4:08pm On Jun 16, 2023 |
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Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 4:05pm On Jun 16, 2023 |
XAUTrader4L2:
The details change but the name remains the same and that is why history rhymes. There is a quote " Details matter", what is the point of me anticipating a bull market if i dont know the different bull patterns.
Mark Twain was not a trader but his words has being used by traders from time immemorial. Infact alot of things in life have being used by traders. Just like we have cycles in life e.g birth and death, we also have cycles in forex/stocks which is called business cycle. There are price fluctuations with your everyday goods and services in the market, the thing with forex/stockes trading is that you can see those price fluctuations on a chart. There! At the bolded, you just made my point count. How did you know there was a bull market before, what constituted the bull market? That's where you get your details. As TA traders, we use past price action to speculate on future price movements. That's my whole point. 1 Like |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 2:48pm On Jun 16, 2023 |
Donsheddy: THIS WEEK WASNT BAD... WE GO AGAIN NEXT WEEK...
5 trades this week.
Day 1 - 46 pips loss
Day 2 - 70 pips profit
Day 3 - 93 pips profit
Day 4 - 93 pips profit
Day 5- 46 pips loss
Total profits 70 + 93 + 93 = 256 pips profit
Total loss = 46 + 46 = 92 pips
Closing profit = 256 - 92 = 164pips profit
Risking 0.46 % per trade with 0.1 lots...
Profit for the week = 1.64%
Max. Profit attained this week. = 2.1%
Max loss in a row = -0.46 %
D. D from initial starting balance = - 0.46%
Man this big bosses don chop me finish on top your matter oo, abeg no vex oo, help me beg them too oo, we just dey rub each other back for here nii oo, no bad belle at all lols. Your journal is clean and well detailed trader, enjoy you profits. 4 Likes 2 Shares |
Business / Re: Forex Trade Alerts: Season 23 by EmmanuelVi(m): 2:43pm On Jun 16, 2023 |
Galleryeasy: Are u an illusionist? The young man has been doing gr8 for himself, posting trade calls and journaling his journey regardless of being wrong or right all u keep doing is attacking him , please stop! If is that easy I guess you are now trading with Hedge fund. There is more to trading than this bro,
It's been a great week, @ Rebecca congratulations. Remember is a numbers game till next week. mmm..*sighs*...did even read any of my other comments or did you just come right out to throw a diss at me? I don't even see where the guy in person mentioned that I "keep" attacking him (as you say). I wonder who is throwing shades now. 1 Like 1 Share |