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Nairaland Forum / Nairaland / General / Business / Forex Trade Alerts: Season 22 (380380 Views)
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Re: Forex Trade Alerts: Season 22 by Nobody: 1:12am On Jan 13, 2022 |
Kaybee7000: As usual. Very few people are profitable. The rest lose. The stats from all these trading contest shows that the profitable traders in the long run are the BROKERS especially dealing desk / market maker brokers. Imagine taking the opposite sides of all the accounts lost compared to the winners. Good money. While some people na risk management kill them. On a Good day due to the intraday stop loss or drawdown of 5%. Person no suppose dey risk pass 0.5% on a trade which is $50 on a trade which is also dependent on the win rate of the strategy. But i saw people say they use five 0.1 lots at once gbam. Some people it's greed ![]() I remember a contest last year someone was doing amazingly well scalping for over 2 weeks profitable wins. DAX 30 in just 1 trade gone bad messed up his equity (balance + profits). Well, hopefully all of us will get better as the financial year goes on. 7 Likes 2 Shares |
Re: Forex Trade Alerts: Season 22 by haryodehjia(m): 7:43am On Jan 13, 2022 |
Anticipating for gold sell.. That could likely see gold go back to 1800 that's if the support at 1814 couldn't hold The divergence on 1hrtf has extended to 4hrtf so gold sellers are gaining momentum 3 Likes |
Re: Forex Trade Alerts: Season 22 by BrightFuture48: 7:54am On Jan 13, 2022 |
Kaybee7000:That's exactly the benefit of this type of contest, it make u learn a lot. You see when people say trading is marathon not a sprint. This is one practical example of it for me. In my other account am trading I was doing well because I didn't let any form of external pressure influence my decisions and leisurely trading profitably without issue, but this contest is amount to sprint where we are trying to outsmart one another jettisoning our winning strategies along the way thru impatient. Infact, if I can't seems to hold my self even in such intense pressure in subsequent contest, I will begin to automate my strategy to tune of like 90% so that I can filter out as much emotion or external pressure as possible. In the word of Jim Simon a complete "MODEL Driven" nobody walks in and say Ehh let buy IBM or this stock but what the model says lol. We will surely get there God willing. 5 Likes 1 Share |
Re: Forex Trade Alerts: Season 22 by Gozzylala(m): 8:45am On Jan 13, 2022 |
Dfxmoney: Bro, the other trade you risked 2%, you're risking 1% on this, you don't want to keep going in that direction because it's a sure way to hell |
Re: Forex Trade Alerts: Season 22 by saintfaculty(m): 8:49am On Jan 13, 2022 |
If I spot a double bottom pattern on 15mins within d box, I will sell this asset to the blue area. 1 Share
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Re: Forex Trade Alerts: Season 22 by RUGGEDWEAVER(m): 10:02am On Jan 13, 2022 |
I think GU is still trending for now, I’m patiently waiting for that high liquidity area. saintfaculty: 2 Likes
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Re: Forex Trade Alerts: Season 22 by exmaysn12000: 11:30am On Jan 13, 2022 |
Gozzylala: True talk. I assume someone of his username, (d FX money) should know better. |
Re: Forex Trade Alerts: Season 22 by Feshizzy(m): 11:39am On Jan 13, 2022 |
Dfxmoney: Please ignore those careless niggas and continue to trade your trade, You are doing well. 2 Likes |
Re: Forex Trade Alerts: Season 22 by exmaysn12000: 11:41am On Jan 13, 2022 |
My personal opinion @infofirst Is it possible you use similar trading objectives @gabsonfx used during his competition? Limitations to only Forex pairs, lot size cap similar to TCF on different pairs. I believe it takes consistency to squeeze out 5% with those parameters, what we have presently doesn't reflect any consistency at all. It is a game of luck. 4 Likes |
Re: Forex Trade Alerts: Season 22 by Feshizzy(m): 11:43am On Jan 13, 2022 |
exmaysn12000: Gozzylala: Someone is busy trading, these busy bodies are busy judging. Please if you don't have something else to say just Shut up, He did not put his trade out here to be insulted. Not even from the likes like you too, when the only thing you do is talk. You guys would complain that we refuse to share our trade entries and when we do, na careless backlash dey follow am If you know better, you should post your trade analysis like he has done, to show him what he might have missed. Not this nonsense both of you are doing. 2 Likes |
Re: Forex Trade Alerts: Season 22 by Feshizzy(m): 11:44am On Jan 13, 2022 |
exmaysn12000: Na only this nonsense you sabi post, You are just bitter and beefing others are doing well, now you are trying to put in limiters to favour you. 2 Likes |
Re: Forex Trade Alerts: Season 22 by exmaysn12000: 11:46am On Jan 13, 2022 |
Feshizzy: I won't trade words with you boy. Good day 2 Likes |
Re: Forex Trade Alerts: Season 22 by Gozzylala(m): 12:00pm On Jan 13, 2022 |
Feshizzy: |
Re: Forex Trade Alerts: Season 22 by Gozzylala(m): 12:01pm On Jan 13, 2022 |
[quote author=Gozzylala post=109331837][/quote] @feshizzy |
Re: Forex Trade Alerts: Season 22 by Donsheddy: 12:13pm On Jan 13, 2022 |
Hitting 4% Drawdown in a day is just as careless as it can be.... That's not risk management at all..... That's gambling and not trading.... Even if you pass the challenge which I doubt you will..... Your live account might not survive it too.... Speaking from experiences and mff statistics says it all..... I know someone that passed both phases of the challenge in two weeks.... And blew up the live account.... I also know someone that passed one in a day and blew up the second phase.... All I'm saying yes it's a competition and Sprint. .but we Don't have to throw the basic principles of trading into wastebin.... Cus I believe what boss infofirst is trying to build here is generation of traders that will succeed and also assist to build others.... My one cent.... 6 Likes 1 Share |
Re: Forex Trade Alerts: Season 22 by Gozzylala(m): 12:17pm On Jan 13, 2022 |
Feshizzy: Be honest with yourself feshizzy, would you trade like that? Is that how you traded to maintain your account you post every week? 2 Likes |
Re: Forex Trade Alerts: Season 22 by karkinase(m): 12:28pm On Jan 13, 2022 |
In this business no size fits it all.. but following the bandwagon is how u lose ur money quick or won’t make any money at all.. Risk 2% Risk 1% only is just bullcrap. Define ur own risk management style that allows you to survive in the market multiple times. I might see a very clean setup and decide to risk 5% depending If I still meet my daily dollar requirement. 7 Likes 2 Shares |
Re: Forex Trade Alerts: Season 22 by samfelly: 1:01pm On Jan 13, 2022 |
Abeg, GBP go start bleeding? Abi Boris Johnson imminent sacking no go affect market? |
Re: Forex Trade Alerts: Season 22 by boom99(m): 1:41pm On Jan 13, 2022 |
Looks like EURGBP ready for a sell |
Re: Forex Trade Alerts: Season 22 by boom99(m): 2:03pm On Jan 13, 2022 |
Re: Forex Trade Alerts: Season 22 by Feshizzy(m): 2:31pm On Jan 13, 2022 |
How well do y'all trust your system,? How solid is your backtest? We need to be honest in ourselves in these business if you want to stay long it, Take a full day and test your system thoroughly, The mata dey cause eye pain and major headache, But trust me it's a small sacrifice if you intend to be full time.. You just have to do your due diligence, If you can't sleep with your two eyes closed when on an open trade, you really have a big problem 5 Likes 2 Shares |
Re: Forex Trade Alerts: Season 22 by infofirst(m): 2:34pm On Jan 13, 2022 |
Kindly stop looking at who is leading and his or her trading attributes. Pick only the lessons from his trading results. I have stated repeatedly that aside from the first position. I can choose to do otherwise. The otherwise is responsible and yet effective trading outcomes getting rewarded. Folks left their trading open so we can learn from it and not bitterly criticize their trades Thou this might be a competition but the truth is to pass the first phase of the prop firm especially when trading 100k and higher, you must take some heavy risk. If the number one is over trading? show us your own under trading and your results. Some of us complaining now are only unlucky and got disqualified because we over trade as well. Let the person enjoy his over trading, time will tell if he is good or simply gambling Eurgbp is never going to help you to pass prop firm except you take high lots sizes which is risk on her own too. Lets love and respect one another. Can number one kindly share some tips with us on how he spot his trades entries and exits? 15 Likes 4 Shares |
Re: Forex Trade Alerts: Season 22 by haryodehjia(m): 2:47pm On Jan 13, 2022 |
infofirst: Boss God bless for this write up sir... All what each and everyone needs to do is have confidence in their strategy and emotions pls.. 4 Likes |
Re: Forex Trade Alerts: Season 22 by boom99(m): 2:50pm On Jan 13, 2022 |
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Re: Forex Trade Alerts: Season 22 by Nobody: 3:10pm On Jan 13, 2022 |
Pick only the lessons from his trading results. infofirst: |
Re: Forex Trade Alerts: Season 22 by Nobody: 3:12pm On Jan 13, 2022 |
For those that whose ftmo account is still active (and disqualified by fxblue rules), keep trading it and measure yourself at the end of her 14 days. 4 Likes |
Re: Forex Trade Alerts: Season 22 by VlamesIffect(f): 3:16pm On Jan 13, 2022 |
karkinase:A very clean setup doesn't mean you can't lose boss man. Would you rather lose the 5% at once or trade 5 clean setup with 1% risk each...... Just like we have defensive driving. Me i apply defensive trading... Moreover as you said there's no general rules to follow. You do what is best for you.... 2 Likes |
Re: Forex Trade Alerts: Season 22 by Gozzylala(m): 3:52pm On Jan 13, 2022 |
Five fundamental rules of trading 1. Anything can happen in the market. Nothing is certain, it takes one trader to negate the outcome of your analysis. 2. Each moment in the market is unique. This is because there are different participants with different opinions of the market each day 3. There is a random distribution of wins and losses. You never the sequence that your wins and losses will come. 4. You don't need to know the outcome of the next trade to make money in the market. 5. Your edge is just an indication of a higher probability of one thing happening over another. I got this from Trading in the zone by mark Douglas. If you know and accept these rules, it'll help with your trading mindset and risk management. I think a trader should be consistent in his approach to the market to stay long in this business. Consistency includes staying consistent in his method of analysing the markets, selecting his levels and pois, how to break even, how to take profit, how to partial, what to risk per trade, how to scale in and out, time-frames for analysis and execution etc Essentially doing the same thing over and over again. If no trade outcome is certain regardless of how beautiful the setup is, why will I increase my risk? Btw, how I go take post charts here, don't know how to go about it, anyone help? 6 Likes |
Re: Forex Trade Alerts: Season 22 by karkinase(m): 4:04pm On Jan 13, 2022 |
VlamesIffect:Seem em that 5% I’m risking .. I’ve already calculated the dollar value of what I would lose and it is smtin i shuld be comfortable with. 3 Likes |
Re: Forex Trade Alerts: Season 22 by Obama245979(m): 4:13pm On Jan 13, 2022 |
Elliotwaveforec:am in |
Re: Forex Trade Alerts: Season 22 by Rostid: 4:19pm On Jan 13, 2022 |
ILovebigyansh: Agreeing with every other thing stated here, I'd like ask concerning the bolded text, are you saying it isn't possible to risk 0.5% or even less with 0.1 lot size? |
Re: Forex Trade Alerts: Season 22 by VlamesIffect(f): 4:26pm On Jan 13, 2022 |
Gozzylala: Exactly....boss.. Baba say na clean setup. Like say the best trading system doesn't have flaws....we are dealing with uncertainty...why will you favour one position over the other? + Random distribution of losses & wins... There's no particular sequence for your losses & wins. You can have 4 losses before 6 wins. Next week have 6 straight losses before the 4 wins.... 4 Likes |
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