Feshizzy:

Don't stress yourself over nothing,
A losing week or month doesn't mean you are doing bad.
Nothing works 100% all the time.
My candid advice,
Be thorough with your plan,
Get a 10 year data on your platform,
Slowly and patiently use a simulator to test your strategy.

fashionnisir:
Nzu dey payment oooo

abham:
Reading this, just helped my mental health because all trades I’ve been making on my demo account are just reds and no blues. I tried making technical analysis where I draw horizontal lines of which I don’t even know what they mean and when to enter the market for buy or sell and I’m getting burnt seriously and it’s having effect on my confidence to trade.

Worst part is I read pdfs frequently but application is zero :/ maybe I should just keep trying as this is a stage of growth in learning.

charly20:
After losing 16% of my equity (for my liveaccprep account),I tried to understand why I lost that large and here is what I understood;
1. Having a limited amount of pairs on the watchlist does not automatically mean no overtrading.

2. I traded with no objective amount to be risked per week

So this week, I decided to amend that and I decided to;

1. Pick only two pairs out of the five on my watchlist for every week.
2. I will risk at most 5%(i.e $10) every week.

The above simply means I have to select only high probability trades for every week. So for this week, I picked two ladies; EURUSD and USDCHF and although the setup played out today I shall hold them till they are exhausted as I'm a swing trader.
For next week, I have only USDCAD as high probability.
The plan to maximize my profit in this week's two trades are to add maximum of 3 positions on retracements.

I regret not sharing pictures for these setups as each time I post, the pictures hardly come out clearly on this forum, I wonder how Mr. Gabson does it

Have a wonderful weekend, y'all

VeeVeeMyLuv:
my boss trading multiple pairs is just like somebody going to the restaurant to eat all the various dishes/meal available on the menu the person will just collapse!!

samfelly:


Check here https:///wealthlifenetwork. That is where I learn sometime in April, 2020

VeeVeeMyLuv:
my boss trading multiple pairs is just like somebody going to the restaurant to eat all the various dishes/meal available on the menu the person will just collapse!!

CopyJoe:


I concur.

I have reduced my trading pairs to 3.

GJ, GU and Gold.

Less is MORE.

GabsonFX:
GU manually closed @ -56pips
GJ re-shorted, SL as previous, analysis as previously done.
Gold left running at 182pips

karkinase:

Losing in this field can so devastating. Two things you check on :
1.Strategy 2. Risk management

1. Strategy: Are you an indicator based trader or pure price action, days and time of the day you trade, timeframe you trade from. Tweak your strategy by backtesting.

2. Risk management/money management:
one of the most critical part of trading but often overlooked. If you got the best strategy and your risk management is crappy belive me you keep running in circles.
Your lot size per trade, how exposed are you during running trades( correlated pairs come into play here), how do you manage a losing and winning trade.

Fix the above more judiciously this time and you will be 80% there.

NetValueFX:


Reducing the number of pairs you take would not guarantee improved result.
Check your trades and find out why it failed.
In addition, you should be a master in trading to be trading Gold. Where a tight stop loss on currency is say 20pips, the same would be like 60pips for Gold, hence three wins from your currency pair could be wiped out by one SL from Gold. Think about it.

femora007:
You are very correct. As for me, I trade all major & minor pairs as long as they present a good trading opportunity.

Instead of limiting ones self to few pairs, better to divide the whole lot u would av used on that one pair with good set-up and use it to take more pairs with similar set-up. Because most times, when u see a good set-up on any of the major pairs, one or two minor pairs will have similar set-up too, and by the time price movement start not of all those pairs with similar the same number of pips and some will not even move at all which could have been the only pair u chose to trade and u will fill pained wen u see other pair move.

NetValueFX:


I disgree. I trade all the major and minor pair. Until people understand that they need to trade what soothes their psychology they will keep failing.

VeeVeeMyLuv:

Boss looking at nearly all the pairs for setup to trade especially as a daytrader or scalper is not worth it...

Haba! At the end of the each day, the person will always be emotionally, mentally and even physically drained!

VeeVeeMyLuv:

Boss looking at nearly all the pairs for setup to trade especially as a daytrader or scalper is not worth it...

Haba! At the end of the each day, the person will always be emotionally, mentally and even physically drained!

NetValueFX:

Hahaha... It depends on how much calculations one needs to make before taking a trade.
As we speak I have plotted my zones against next week, I don't plot or look for new opportunities within the week. From Monday all I do is check my chart every 4hours to see price hitting any of those zones. I already have an alarm set to remind me every 4hours. . So I am fully focused on my daily business.

Feshizzy:


Everyone View the Market differently,
Because it hasn't worked or didn't work for you, might not be bad for others,
i trade only EU because that is what i have extensively tested for over more than 3 years i have been away.
so i know what to expect to some level.
my point is how long have you been on multi pair to know enough...?

samfelly:


Feshizzy, please, how do I get 10 year data on Gold. My MT4 doesn't render enough

And the stimulator also, throw more light on how to set things up, mbok

Feshizzy:


SUMMARY
FTA-NaGrace
Year 1, Week 2

NetValueFX:

Hahaha... It depends on how much calculations one needs to make before taking a trade.
As we speak I have plotted my zones against next week, I don't plot or look for new opportunities within the week. From Monday all I do is check my chart every 4hours to see price hitting any of those zones. I already have an alarm set to remind me every 4hours. . So I am fully focused on my daily business.

Feshizzy:


Everyone View the Market differently,
Because it hasn't worked or didn't work for you, might not be bad for others,
i trade only EU because that is what i have extensively tested for over more than 3 years i have been away.
so i know what to expect to some level.
my point is how long have you been on multi pair to know enough...?

GabsonFX:
Update on those trades: I took small portion of profit from gold cos I needed to take it back to D1 from H4; now I'm back to D1 trading gold, GJ and GU. This is where I'm @ at the moment.

Gold currently running 203.9pips
GJ @ 3.3pips

My plan on GU for Monday close is to re-short GU if Monday close is bearish, if otherwise, i.e bullish, I will check to see if a resistance is broken before longing it.

Happy weekend!

NetValueFX:

Hahaha... It depends on how much calculations one needs to make before taking a trade.
As we speak I have plotted my zones against next week, I don't plot or look for new opportunities within the week. From Monday all I do is check my chart every 4hours to see price hitting any of those zones. I already have an alarm set to remind me every 4hours. . So I am fully focused on my daily business.

SystemBet:
Good morning peeps! Plz anyone on fundi/ng tal/ent should hit me up on your experience with the company

Happy weekend!

samfelly:


Gabsonfx, I must say, you are truly an inspiration, here. In short, you are legend. For giving us step-by-step guide of all ur trades.

We appreciate

Donvic4u:



Lol for the first time me n u agree...

This is exactly what I do too,

Every h4 close my phone starts ringing with alarm

CopyJoe:
I don't have the luxury of time to look at the chart every time.

That's why I swing trades.

As a newbie, I can't trade many pairs. It's psychologically draining.

Hence, I focus on 3-4 pairs that I found interesting.

My trades in the last two months showed me pairs I can trade very well for now.

As time goes on, I may add more.

It's a long-term thing. A step at a time.