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Nairaland Forum / Nairaland / General / Business / Forex Trade Alerts: Season 21 (334488 Views)
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Re: Forex Trade Alerts: Season 21 by Theyoungmaster(m): 8:37pm On Jun 01, 2021 |
Please who knows any broker that offers a beginner friendly, spread healthy cent account to nigerian based traders? |
Re: Forex Trade Alerts: Season 21 by Nobody: 8:43pm On Jun 01, 2021 |
Update on GJ I'm currently at a no panic -70.0pips on GJ which is nowhere near my SL, Scenario 1 played out. Today's candle is likey going to close below the yellow price (1hr 30mins to count). I will not close this long position until today's candle actually closes below the yellow price even if it reads -120pips, don't expect the market to go your way at all times. I once mentioned that giving back 80.0pips to the market does not touch my account not to talk of shaking it, I will get it back in multiples... (That's Risk/Money Management) The psychologies here are: 1. If you cannot lose it, do not trade it. 2. Plan your trade, trade your plan, Stick to the plan. 9 Likes
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Re: Forex Trade Alerts: Season 21 by Nobody: 8:44pm On Jun 01, 2021 |
Tony142:That your quote choke 1 Like |
Re: Forex Trade Alerts: Season 21 by Gasive: 8:44pm On Jun 01, 2021 |
Tony142: Keep doing your thing bro. 1 Like 1 Share
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Re: Forex Trade Alerts: Season 21 by Gasive: 8:50pm On Jun 01, 2021 |
GabsonFX: You're really doing great boss, I love your confidence. I'm learning to trade like you. #Respect. 1 Like
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Re: Forex Trade Alerts: Season 21 by Nobody: 8:59pm On Jun 01, 2021 |
Theyoungmaster:try forextime |
Re: Forex Trade Alerts: Season 21 by Theyoungmaster(m): 9:10pm On Jun 01, 2021 |
Donsheddy: It's market maker's method(mmm). There are 3 levels for every trend. Each level has it's own consolidation or retracement as the case may be. Every trend terminates after level 3 consolidation with the formation of a double top or HNS or wedge or a straight away trade. There's usually a reset after level 3 move. So when he talked about level 3 rise and reset,he meant to say price will still sell for a while (his bias is to the south) before a big reset (stop hunt and formation of double bottom or consolidation or inverted HNS) before he jumps on the move to arewa (north). Read up on mmm. Quite educating. |
Re: Forex Trade Alerts: Season 21 by infofirst(m): 9:10pm On Jun 01, 2021 |
ItzProspero: How about their spread? I have read complaints of high spread from folks 1 Like |
Re: Forex Trade Alerts: Season 21 by Theyoungmaster(m): 9:13pm On Jun 01, 2021 |
Re: Forex Trade Alerts: Season 21 by Theyoungmaster(m): 9:16pm On Jun 01, 2021 |
Theyoungmaster: Please keep the suggestions coming. I'll really appreciate. Thanks to boss @Infofirst, I'm getting ready to float my first live account. God bless you mightily Baba! Yo, I'm excited y'all! Been on the sideline for 10 months demo trading, investing in knowledge and bidding my time. Tips and advices are welcome. 2 Likes |
Re: Forex Trade Alerts: Season 21 by charly20(m): 9:32pm On Jun 01, 2021 |
Theyoungmaster: Safe harvest bro.... Somehow your excitement is rubbing off on me ... hopefully the year's end would see me equally prepared to try live at the start of next year... That's the plan. Thanks to the bosses who encourage all of us to keep grindin', the universe will pay the debt we owe y'all. 3 Likes |
Re: Forex Trade Alerts: Season 21 by Tony142: 10:03pm On Jun 01, 2021 |
infofirst: Boss, in the next contest make it possible to place 0.05 lot on one trade, instead of placing 0.01 lot five times Here is the reason, some people trade different pairs, while others trade only one pair, let assume I trade 5 pairs, I can easily place 0.01 lot on each of the 5 different pairs I trade to make it 0.05 lot, but let assume u only trade GBP/USD u will have to place 0.01 lot 5 times on the same pair, instead of just placing 0.05 lot and rest, it does not make sense na That maximum of 0.01 lot size and maximum of 5 order only favour those who trade many pairs, if u trade only one pair there is no need to be stressing yourself placing 0.01 lot 5 times when u can just do it once |
Re: Forex Trade Alerts: Season 21 by Nobody: 10:13pm On Jun 01, 2021 |
Until tomorrow's close to analyze GJ, GA, and Gold---My eyes on them. USOil should stay aside for now to be analyzed later in the week 2 Likes |
Re: Forex Trade Alerts: Season 21 by femora007(m): 10:26pm On Jun 01, 2021 |
Ignatio:but if the trade is taken from a high time frame no need to be looking every now & then |
Re: Forex Trade Alerts: Season 21 by Tony142: 10:27pm On Jun 01, 2021 |
infofirst: Apart from allowing those of us who only trade one currency pair to trade 0.05 lot size at once like I said earlier, there is also another area I want you to look into too , which is That 1,000$ we are using for the contest is very unrealistic, believe me 99.99% of those participating in the contest can not even afford to deposit 100$ into their live account not to talk of 1,000$ One of the reason why trader blow their account is because they will use 100,000$ demo money to practice and when they want to trade live account they will deposit just 10$ or 20$ , how can u use 100k dollar to practice in demo and u are depositing 10$ into your live account? Rule 1: "use the amount of money u know u can afford in live account to practice on your demo account" If u know u can afford 20$ in live account then use 20$ to practice on your demo account If u know u can not afford 1,000$ in your live account, then do not practice with 1,000$ Like i said earlier, 99% of those participating in the contest are demo traders, not live account traders, this 99% infact, 100% of them cannot afford 1,000$ on live account, so using 1,000$ to practice is unrealistic The amount of dollar that is close to reality is 100$ So as from the next contest I think we should start using 100$ and not 1,000$ Below is the summary of all I have said so far New Rules 1. Initial amount = 100$ not 1,000$ again 2. Let trader that trade only 1 pair be able to open 0.05 lot at once, instead of stressing yourself opening 0.01 lot size 5 times 3. Let traders that trade different currency pair open 0.01 lot size 5 times on their various pairs if they want Those are my points |
Re: Forex Trade Alerts: Season 21 by bigbasho: 10:32pm On Jun 01, 2021 |
i mean... Donvic4u: 2 Likes
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Re: Forex Trade Alerts: Season 21 by haryodehjia(m): 10:56pm On Jun 01, 2021 |
Tony142: Haba fear God na, I support every other point but not the bolded |
Re: Forex Trade Alerts: Season 21 by Donsheddy: 11:05pm On Jun 01, 2021 |
Tony142: You're allowed to open 0.05 lots on pairs... As long as it's just one position... The rule is at no point... Should the summation of your lots in an open position exceed 0.05.... Any how you wan take trade am... But floating lots shouldn't be above 0.05 at a Time |
Re: Forex Trade Alerts: Season 21 by Nobody: 11:16pm On Jun 01, 2021 |
Tony142: |
Re: Forex Trade Alerts: Season 21 by Nobody: 11:17pm On Jun 01, 2021 |
Too much fine-tuning ruins everything |
Re: Forex Trade Alerts: Season 21 by Nobody: 11:18pm On Jun 01, 2021 |
infofirst: The spreads on major pairs are tight. |
Re: Forex Trade Alerts: Season 21 by Elliotwaveforec: 11:39pm On Jun 01, 2021 |
bigbasho: I don't understand, too complex |
Re: Forex Trade Alerts: Season 21 by Skanas(m): 12:16am On Jun 02, 2021 |
Tony142: If I remember correctly, Infofirst set up this contests to build consistently profitable traders(with good money management skill) that will manage live account of same amount($1000) someday.... |
Re: Forex Trade Alerts: Season 21 by meshpips(m): 12:17am On Jun 02, 2021 |
Donvic4u: I agree with this buy from 154.8X level |
Re: Forex Trade Alerts: Season 21 by Skanas(m): 12:18am On Jun 02, 2021 |
ItzProspero:I thought as much...the current rules are just ok sha |
Re: Forex Trade Alerts: Season 21 by Theyoungmaster(m): 1:19am On Jun 02, 2021 |
Donsheddy: This is actually not correct. Maximum lot size PER TRADE is 0.01. See attached. EVERY SINGLE TRADE MUST BE 0.01. MAXIMUM LOT SIZE OPEN AT A TIME MUST NOT EXCEED 0.05. THIS MEANS THAT WITH 0.01, YOU CAN HAVE UP TO 5 TRADES ACTIVE AT THE SAME TIME. The rules are simple and straight forward.
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Re: Forex Trade Alerts: Season 21 by Nobody: 3:09am On Jun 02, 2021 |
Heheheheh, I copy you this time....but chai, took me precious time to find one wey go suit ooooo. Na u be oga for meme here on FTA. Gasive:
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Re: Forex Trade Alerts: Season 21 by Ignatio(m): 3:42am On Jun 02, 2021 |
femora007: It's still very important that you're not relaxed because it's placed on a high time frame. |
Re: Forex Trade Alerts: Season 21 by Donsheddy: 4:02am On Jun 02, 2021 |
Theyoungmaster: It is still the same thing If you're trading a single pair... You can have one active trade of 0.05... Cus 0.01*5 = 0.05 |
Re: Forex Trade Alerts: Season 21 by Nobody: 4:09am On Jun 02, 2021 |
... |
Re: Forex Trade Alerts: Season 21 by Piptocoin: 5:57am On Jun 02, 2021 |
Tony142: You are deviating from the foundational idea of the competition which is to give everyone the opportunity to try out their trading skill in order to manage a $1000 live account. |
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