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Nairaland Forum / Nairaland / General / Business / Forex Trade Alerts: Season 22 (388219 Views)
Forex Trade Alerts: Season 23 / Forex Trade Alerts: Season 21 / Forex Trade Alerts: Season 20 (2) (3) (4)
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Re: Forex Trade Alerts: Season 22 by pickatyouu: 12:31pm On Jul 19, 2022 |
Sell gbpusd TP .1981 SL .2044 |
Re: Forex Trade Alerts: Season 22 by karkinase(m): 12:38pm On Jul 19, 2022 |
Break or bounce for CADJPY Wait for a good rejection on close of 2pm 4H candle… to either go long or short
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Re: Forex Trade Alerts: Season 22 by realone12(m): 1:20pm On Jul 19, 2022 |
I was searching for something when I came across a question asked by Charley in last year FTA thread.. pls someone should clarify this question for me coz i have been looking for answer to this exact question. I have to understand this enough before I venture into prop fund trading. Bellow is the question asked by boss Charley: "Here is an idea of what I'm trying to get at; 10k account Open trade : 1% risk target return (based on opportunity presented): 8% First price impulse moves equity from 10k to 10,500 (i.e 5% gain), Market makes a retracement for second impulse sending equity from 10,500 to 10,000 (I.e 5% DD) Account lost This is what I mean. I'm trying to understand if that is how the system works so I may plan accordingly if I'm to consider the option" (MFF) |
Re: Forex Trade Alerts: Season 22 by Fxwarrior: 1:38pm On Jul 19, 2022 |
Fxwarrior: Still valid. |
Re: Forex Trade Alerts: Season 22 by infofirst(m): 2:09pm On Jul 19, 2022 |
infofirst: The 4H might invalidate this. I noticed a three top pattern frm the daily tf, structure broken and then a retest of the broken structure followed by the close of last 4H in bear favor. |
Re: Forex Trade Alerts: Season 22 by charly20(m): 2:20pm On Jul 19, 2022 |
realone12: I believe this was settled. That is how the system works @karkinase fell victim, I think. To manoeuver then is to become a daytrader or a really conservative short term trader. 4 Likes |
Re: Forex Trade Alerts: Season 22 by DestinyDjohn: 2:43pm On Jul 19, 2022 |
realone12: From your question is this whole scenario playing out within 24hrs that's same day ? .. because I only feel it will count if that running profit if $500 is carried over to the next day before falling back to $10,000 |
Re: Forex Trade Alerts: Season 22 by realone12(m): 2:50pm On Jul 19, 2022 |
charly20:thanks for the answer boss. but if this is how the system works, that's so unfair. or could it be that those who owns prop firms doesn't have idea how price moves? price doesn't just move up or downward without a little bit zigzag. how can they use this reality to set trap for traders? for God sake I thought they (owners of prop firm) should only concern themslves with not losing the initial fund given to traders? whether your floating profit falls down to break even or not shouldn't be their problem.. with this rules, every trader is at huge disadvantage because I see this more as a trap.. i think prop fund trading ain't for me.. 2 Likes |
Re: Forex Trade Alerts: Season 22 by charly20(m): 2:59pm On Jul 19, 2022 |
realone12: I don't know about you man but I think one skill needed in this business is FLUIDITY. You have to be formless, the ability to switch between timeframes and still trade profitably is something. The prop firm owners have their model. It will be in your best interest to adjust to be able to enjoy the opportunities that lie therein. Take a trade, set an achievable TP within the trading day or trail your SL. Cheers! 4 Likes |
Re: Forex Trade Alerts: Season 22 by realone12(m): 3:10pm On Jul 19, 2022 |
DestinyDjohn:an talking about same day.. let's say for instance I have 10k mff account. and i place a trade (long) around 7am in the morning with 1% risk and a target of 6% profit. around 2pm that same day, I'm in profit of about 5%. hoping that the price will go up a little bit to hit my TP before 7pm that same day, the price fall and move down to touch my (break even) which is 5% equity drawdown from were it was around 2pm. does this mean the account is gone? take notice that the initially capital (10k balance) the prop firm given to me hasn't been touched. there is no losses on the 10k or whatsoever. does my equity rising to 5% in profit nd losing the 5% equity on a same day means The account is gone even when the initial 10k balance remain untouched? |
Re: Forex Trade Alerts: Season 22 by realone12(m): 3:16pm On Jul 19, 2022 |
charly20:boss thank you for ur insight. but sir, I have one more question for you if u don't mind. if you are to trade prop account, what do you think is the ideal R:R according to your perspective? |
Re: Forex Trade Alerts: Season 22 by charly20(m): 3:19pm On Jul 19, 2022 |
realone12: I'm usually more concerned about how much risk I'm taking and my reward is whatever the market offers. You should try searching for Gabson.fx's posts. I learned a lot when he was sharing his challenge updates. Bottomline; Always know when to get out. 5 Likes |
Re: Forex Trade Alerts: Season 22 by realone12(m): 3:33pm On Jul 19, 2022 |
charly20:OK boss.. naturally, I'm a swing trader, just like you. but for 7months now, I have been day trading on demo and it has been so far profitable. sometimes I took trades that quickly ran into profit of about 5% of my account withing 4hours. and before u know what's up the 5% floating profit would be wipe of the account within 30minutes. the beautiful part of trading is that same trade can still go on to be a winner in the evening. if I understand what you are saying correctly, the moment the market retrace back and swallow the 5% equity that I gained earlier, I Don lose my account be that? |
Re: Forex Trade Alerts: Season 22 by QuickFunding: 3:44pm On Jul 19, 2022 |
GOLD SELL 1720 - 1725 TP1 1715 TP2 1710 TP3 1705 TP4 1700 SL 1730 |
Re: Forex Trade Alerts: Season 22 by DannyFX2638: 3:46pm On Jul 19, 2022 |
realone12:kiss the account Goodbye 3 Likes 1 Share |
Re: Forex Trade Alerts: Season 22 by realone12(m): 3:52pm On Jul 19, 2022 |
DannyFX2638:damn!!!!! those people Na big thief.. its not worth the stress.. better to grow ur personal account.. 2 Likes 1 Share |
Re: Forex Trade Alerts: Season 22 by Galleryeasy(m): 3:56pm On Jul 19, 2022 |
realone12:. Don't be too hard on yourself, the Daily drawdown (DD) can be calculated based on equity or starting balance of the day depending on the choosen prop firm, from my little knowledge (MFF) DD is taken based on equity and can only be effective once your opened positions is carried to the next day.. Example: If you have a running position today with a floating profit of 5% or over , and the trade retraces back and take all the 5%, your account is still intact.. You can only loose the account if you Carry the trade overnight with 5% or over profit and the trade retraces back to your entry position.. This is how i avoid the plot. 1 risk only 0.5% of your account 2. If you wish to go higher,make sure to close the trade by 10pm. For FTMO ,the max. DD is calculated based on the starting balance of the day. I was a swing trader but prop firm changed my mindset and approach towards the market. 2 Likes |
Re: Forex Trade Alerts: Season 22 by Galleryeasy(m): 3:58pm On Jul 19, 2022 |
DannyFX2638:No the account is still intact, he can only kiss the account goodbye if the floating profit disappears the next day |
Re: Forex Trade Alerts: Season 22 by Fxwarrior: 4:07pm On Jul 19, 2022 |
Fxwarrior: If you entered this trade. Don't close it. Forex is a mind game. |
Re: Forex Trade Alerts: Season 22 by realone12(m): 4:09pm On Jul 19, 2022 |
Galleryeasy:you just bring up my hope once more.. with the way you explained it, I think I will give prop a try.. thanks for your explanation. |
Re: Forex Trade Alerts: Season 22 by Galleryeasy(m): 4:11pm On Jul 19, 2022 |
realone12:Real case scenario.. I enterd this trade on a 50k account last night this morning around 11am I was floating about $6K profit and it dropped back to $1k around newyork open, now floating on $10k profit, the account is still intact, I will close the position by 9pm today if it didn't hit my Tp
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Re: Forex Trade Alerts: Season 22 by DannyFX2638: 4:25pm On Jul 19, 2022 |
Galleryeasy:bro .. if 5% is gone , The account is already gone.. it's so far I know |
Re: Forex Trade Alerts: Season 22 by DannyFX2638: 4:26pm On Jul 19, 2022 |
Galleryeasy:nice one .. are you still on evaluation?? 2 Likes |
Re: Forex Trade Alerts: Season 22 by ogashman(m): 4:30pm On Jul 19, 2022 |
Stalking GU sell from that resistance
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Re: Forex Trade Alerts: Season 22 by Galleryeasy(m): 4:31pm On Jul 19, 2022 |
DannyFX2638:Nah , that's $50k funded I passed last 2weeks. Just secured thalw account. 2 Likes |
Re: Forex Trade Alerts: Season 22 by Galleryeasy(m): 4:32pm On Jul 19, 2022 |
DannyFX2638:You need to revisit the rules again, if it were to be like that, I can never pass any challenge |
Re: Forex Trade Alerts: Season 22 by nzechu(m): 4:50pm On Jul 19, 2022 |
Galleryeasy:pls can I use roqqu for bitcoin transaction to pay for mff |
Re: Forex Trade Alerts: Season 22 by ogashman(m): 5:07pm On Jul 19, 2022 |
Galleryeasy: U re doing well. Target for the month already met |
Re: Forex Trade Alerts: Season 22 by ogashman(m): 5:18pm On Jul 19, 2022 |
Re: Forex Trade Alerts: Season 22 by Galleryeasy(m): 5:28pm On Jul 19, 2022 |
nzechu:you can any wallet, but I used Binance |
Re: Forex Trade Alerts: Season 22 by Galleryeasy(m): 5:30pm On Jul 19, 2022 |
ogashman:Thanks papi, no more trade for the month, hitting 22%.. need to buy some candy |
Re: Forex Trade Alerts: Season 22 by nzechu(m): 5:39pm On Jul 19, 2022 |
Galleryeasy:ok, thank u |
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