samfelly:


Kai, Gold Digger sincerely dug into your wallet o

In Broda Shaggi's voice: Bye-bye to yeye girlfriend (XAUUSD)

VlamesIffect:


Whew...Gold do you dirty..... Be like say you trade on smaller time frame my boss?

Piptocoin:


wonderful! I hope he wins the competition. Any one of the Nigerians. Best of luck to the both of them.

VlamesIffect:


.... I am thinking of buying disney. I just believe in that stock.

GabsonFX:
This Gold Call Update: Today, I was at war with gold; I woke up to see it almost hit my SL, na so I longed again with double lot, went further against me, I tripled my lot until I saw a pull back where I regained some of the losses.

I entered a revenge still on H1, went against me, entered the opposite, went against me.....then i put my phone under the pillow, said I'm done for today. After abt 1hr, I checked again with rest of mind, longed again still on H1 - my previous position, na so I see that long bullish candle in H1, took about 113.0 pips - yes, this is the push I ve been expecting, thus I gained back the losses, closed it and relaxed.

Gold almost messed up my psychology today, this is not me, mba, I don't trade this way. This is my personal account, not props, av gat to relax and continue at market close today.

Lesson: Avoid revenge trading.

Fx traders commit sui*cide as a result of revenge trading....the tin will just be doing kalo kalo

Forexislife:
Leemao.
The bad thing about this kind of issues is, when it hit you hard ehn, it might take weeks to get yourself back.

Thanks my brother, I knew I was already on a revenge mission the moment I realized I stuck to H1 entering and closing about 4 positions in less than 3hrs; I said to myself, you know you are doing rubbish .

You know what actually caused that? I have been waiting since Wednesday (that's 4 trading days) to spot my entry on D1 on gold, GU, GJ, AJ...nothing was coming forth; normally, I would wait even if na 1week I see the entry...the thing just tire me, so I went to H1 from my Friday analysis to spot a small SL and ride an entry as a "wait on D1 entry", once it clocks then I can ride it on D1. NA SO I GOT TRAPPED TO H1 OOOO.

If you check the analysis again (pls do), it all played out as expected, today is bullish, trend broken, long continued today but the fact that my SL was derived from H1 and not from D1, the thing won con mess my psychology.

Lesson: Do not force an entry, wait until all requirements are met, else, let it slide.

BrightFuture48:

Wow! Thanks for your openness and transparency. This happens to us all once in a while as long as one is a discretionary trader. You're bent to be carried away by the emotions and market fluctuations which throw someone off the balance and from our ideal trade plan. But it's always good to quickly identify this scenario and try not to revenge trading, it can throw somebody many days hardwork out in a jiffy.

Thank God you're able to recoup back some of your loss. But there is one technique I am trying to sniff out of your trading stats you shared few days ago on your FTMO challenge. The art of CAPITALIZING on your winning trade with that Excellent Lot Sizes. Do you pyramid while covering the lot already in profit or what?. Its amaze me but I really what to learn that technique if you don't mind sharing it.

jsheng:

Bought GOLD again
Price 1753.49

XAUTrader4L:



Target for the HnS at 1726 reached. With the test of supply, the monday candle should give me confirmation for my entry.

samfelly:
Nice one! Although, I don't know him from Adam, but our own is Doing Well @ 1st position, 4 days to go. I pray he sustains that Tempo.

While, our very own from FTA, d person of Kaybee7000 is following Bumper 2 Bumper @ 11th position.

Oya, Adura!!!

successsam121:
Well, big lessons taught by and learnt from pro traders in the house especially my able boss, the Gold digger himself @Gabsonfx thank God your account still standing tall.

USD/CHF looks bearish after today's daily close but the monthly TF is likely not in conformity.
But remember, NFP is just a few days ahead o........
Abi, wetin I know sef?

Still a humble learner

charly20:



No be lie... My own here is turning my mind upside down.

And it's even DEMO

XAUTrader4L:



The situation has changed a bit with the close above the trendline. The DCL is in and gold is seeking a DCH. Once a DCH is in, gold moves lower.

Fibonacci88:

Revenge trading is the biggest prob we face as traders. I have been a victim several times especially on my personal account. It's all about ego and thinking u know too much to close a day in a loss. Thank God for daily drawdown rules in prop firms. Once I pass 50% of daily drawdown I shut down my laptop and go focus on other things.

We are all in it together sir, and I pray we get to the promised land.

Piptocoin:

@ the bolded, I would actually prefer calling him a Gold miner. Gold digger collects (negative), gold miner profits (positive). I would also say GabsonFX has the Midas touch (gold related idiom which is also positive).

successsam121:
Well, big lessons taught by and learnt from pro traders in the house especially my able boss, the Gold digger himself @Gabsonfx thank God your account still standing tall.

USD/CHF looks bearish after today's daily close but the monthly TF is likely not in conformity.
But remember, NFP is just a few days ahead o........
Abi, wetin I know sef?

Still a humble learner

Fxwarrior:
Gold

Buy at 1760
Stoploss at 1755

Target 1780

carbonado:
...hi, what compitition is this, or where can i view the leader board.

Forexislife:
I hope you don't get stopped out. You been on that trade for a while.

samfelly:


contestfxdotcom

GabsonFX:


We are all in it together sir, and I pray we get to the promised land.

Fibonacci88:

Revenge trading is the biggest prob we face as traders. I have been a victim several times especially on my personal account. It's all about ego and thinking u know too much to close a day in a loss. Thank God for daily drawdown rules in prop firms. Once I pass 50% of daily drawdown I shut down my laptop and go focus on other things.

Piptocoin:


@ the bolded, I would actually prefer calling him a Gold miner. Gold digger collects (negative), gold miner profits (positive). I would also say GabsonFX has the Midas touch (gold related idiom which is also positive).

GabsonFX:


We are all in it together sir, and I pray we get to the promised land.

oladayo63:
GM.

Please how do big Nigerian forex traders fund their forex accounts? I mean traders will $100k-500k account size. Even $1M+.

The most easiest would have been crypto deposit and withdrawal methods, but I couldn't find any reputable broker accept such. For skrill, I've only used it to fund accounts $5k max and I need to source from different exchangers on NL sometimes to get all I need at once. This is too tedious; now imagine trying to source for $100k with less friction.

Thank you.

GabsonFX:
I will answer your question with all sincerity and others interested can also learn.
1. The 1st question I ask myself in choosing lot size is: by choosing this lot size, how many trades or rounds will I lose to blow the account. So I then divide the share amongst 3 pairs, Gold, GJ & GU. So if I trade these 3 positions at good entries and lost them all, I count that 1 round/batch of loss, if i trade them again and lost, that's 2nd round/batch of loss. Now, if I do lost 4 batches in a row, I'm happy to blow the account. Of which, I doubt I will blow 4 rounds in a row.
However, if I blow 1st round of loss or even 2nd round, haaa the 3rd round will recover everything and give me more.

2. That moment is what I term surging, I stay in market and can feel that surging moment - I can see it happening but you've to be in a position and see it happening in your direction, that's where I hammer. If you are not in a position when it happens, leave it, don't join, let it slide cos you may be chasing price. Remember we talked about this when I created those FTMO threads right? It could happen when I'm fast asleep - I will be glad to see it when I wake up; but if I see it happening when I'm on system, I enter huge lot size (even ×5 sef) to catch only about 20pips of it, though still trading on D1. So I watch for the surge only on D1.
Pls note, I stick to my regular lot on my personal accounts, I don't do this on them; but for prop firm - this is how I hit them hard. Then when I achieve the account, I no longer see it as props but mine (personal)

saintfaculty:
Watching this today

samfelly:


I get the analogy, but, boss, na DOLLAR o (mullah, greenback, ego, kudi, owo, money) we dey talk about o . Even though na Demo Contest account, I no wan joke with LOSS, at all, at all. General rule says, Cut The Losses, Quick!

Anyways, thanks. I go marry that analogy with my trading, small small