Eagba:
abeg bosses in the house, if you try to get a RR of 1:1 that's 50 pips loss target and 50 pips profit target for your trades, an mostly after entering your trade, the market was going your way n later reverses before hitting your 50 pips profit target. From look of things, it will start recording negative profit.

what do you do so to maintain your 1:1 RR target, because if you close early, your 50 pips profit target isn't met but most times your 50 pips loss is a guarantee.

rainlover:
co-asking
Cc
VlamesIffect
Infofirst
Piptocoin
kozmicity
currentprice
Fxwarrior

Piptocoin:


That is why I advised reading the book, Master the Markets. There is still much to know concerning reading market movement through volume analysis. Price did rise on the EURUSD analysis and am expecting more bullishness. That is how I majorly see the market...through volume.

rainlover:
co-asking
Cc
VlamesIffect
Infofirst
Piptocoin
kozmicity
currentprice
Fxwarrior

realone12:
Lol..this boss never seize to amaze me by answering questions in a funny way. you and I know sey things doesn't work that way now.. though I know you are joking boss..

kozmicity:


I've been trying that volume thing since morning... I feel I'm making progress

charly20:
Nasdaq....

History repeats. I saw on oil,I'm seeing again on nasdaq.

Credits to @bigbasho. Na for your hand i learn this one,boss.

VlamesIffect:
If gold wan sell...make he sell now....if he wan buy make he buy...which kind thing be this? Sell today buy tomorrow

charly20:



I swear. The asset is so manipulated sotey e reach to abandon but I know say i dey toxic relationship like this

bigbasho:
Pattern repeats Just like playing a musical note over and over again. Good to know you picked from my line. Zoom out your chart and on Lower TF also. You will be amazed at what you will discover. I will drop some nuggets on EU later. I hope it turns the light on completely for you and others willing to follow this path. I must also commend your consistency. Keep it up bro.

bigbasho:
Pattern repeats Just like playing a musical note over and over again. Good to know you picked from my line. Zoom out your chart and on Lower TF also. You will be amazed at what you will discover. I will drop some nuggets on EU later. I hope it turns the light on completely for you and others willing to follow this path. I must also commend your consistency. Keep it up bro.

bigbasho:
Pattern repeats Just like playing a musical note over and over again. Good to know you picked from my line. Zoom out your chart and on Lower TF also. You will be amazed at what you will discover. I will drop some nuggets on EU later. I hope it turns the light on completely for you and others willing to follow this path. I must also commend your consistency. Keep it up bro.

XAUTrader4L2:


Understandable, alot of people are frustrated and even abandoned it.

juniniodanielz:
Almost into Q3 2022! Just bought my second prop firm account. Hope God works his magic this time

juniniodanielz:
Learnt one very important key from this interview! FTMO dey try abeg!

charly20:



It has really done me dirty.
After all intraday demand windows didn't hold,i changed my perspective and i think i have a better picture of what is going on. I won't be surprised if we see bullish pressure tomorrow. But my preferred swing price is now 1810 ish.

karkinase:

Charly share me your book on smart money concept.

charly20:


To profit from the market,I believe a swing trader has to be open to choose several assets. This comes with its own discipline because having a large amount of asset at your disposal and personally choosing to trade a particular set is what is required to manage equity (this is different from hiding off some pairs so you "can't" see them or trade them) . This is like having a large buffet where you choose which food you want to eat instead of having a limited choice of food and consequently being "forced" to eat what is available.

The discipline involved helps you to not overtrade and consequently straining equity.

Swing setups take a longer period to complete and for the benefit of trading experience, I believe a new swing trader should spend more time with the market so that necessary mistakes can be made and strategies can easily be determined.

Using myself as an example, i have all the assets at my disposal but I choose to trade mostly jpy pairs, EA, usdcad,oil,US100 and probably gold. This has had it's impact on my experience as some of these are very volatile assets and i don't want to blow my account so I must be rigid with my risk management .

My win rate is still less than 50% but my account is not dead.
So, i hope you gerrit

kozmicity:


@Eagba
If you're having a 1:1 RR ratio, you strategy simply has to have a win rate of higher than 50%. Generally, if the markets go in your favor then reverse to hit your SL, it means you need to revisit your strategy.

Get to know the why. It might be that your TP is too distant or you're getting in too early. Try to work on your entry and see how much you can tweak your strategy until you get more than a 1:1

teemy:


You could have found a winning strategy... in reverse.

Piptocoin:


this is common to all traders. In my experience, the best thing to do is to bring your stoploss to BE+1 to cover the cost of entry after the market has moved, say, 15 pips or 20 pips in your favour. You cannot control the outcome of the trade. The best you can do is manage your equity as best as you can so you don't lose at both sides — stoploss is taken out and market went ahead to hit your initial take profit level.

Another thing that can be done in addition to the above is to take partials after a determined number of pips to lock-in profits and bring the stoploss to breakeven. If the market decides to go further in your direction...all well. If it decides to reverse, and it hits the stoploss...at least you did not lose.

There is something else though. If you use 1:1 Risk/Reward ratio then you should win 60% of your trades to be profitable. At 50% win rate you will only break even. At 1:2 Risk/Reward ratio you only need to win 4 trades out of 10 (40%) to be profitable. What I am trying to say is that 1:1 RR is not an advisable risk parameter to use when trading.

As long as you have taken partials and brought your stoploss to breakeven there is every tendency you will hit home runs after some disappointing starts.

Eagba:

senior greenback, thanks, I think your point two is liit. thanks.

XAUTrader4L2:


It's annoying but what can we do. I guess it's the cost of trading gold right now.

zonall:


....glad at your progress + growth in trading and in providing knowledge + support to other traders in this forum this past year...keep it burning boss.

...as it is our tradition, I am nominating you in advance, for the launch of FTA23, you have met and continue to exceed the criteria for it.

...cheers to many more insights from you and may the blue pips continually be with you.

PraiseGod4u:
infofirst
Gabsonfx
Donvic4u
Currentprice
@All

From your expert Pov
Do you think propfirms would fold up anytime soon?

charly20:



Thank you,chief.

@the bolded,I'm sure we still have more time to seek a more qualified individual.


Still, I'm honored.