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Nairaland Forum / Nairaland / General / Business / Forex Trade Alerts: Season 23 (538629 Views)
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Re: Forex Trade Alerts: Season 23 by Kaybee7000(m): 6:02pm On Aug 10, 2023 |
Lanshile: It is matter bro cos today is Thursday abi u don forget? |
Re: Forex Trade Alerts: Season 23 by Lanshile(m): 6:08pm On Aug 10, 2023 |
Kaybee7000: 1 Like |
Re: Forex Trade Alerts: Season 23 by geedot: 6:08pm On Aug 10, 2023 |
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Re: Forex Trade Alerts: Season 23 by Geovanni412(m): 6:13pm On Aug 10, 2023 |
My two cents... If you collect 40-50 pips from the market, just close for the day Forget Abt collecting more from that direction Instead set alerts 100 pips away, that price point will rarely ever be hit. Go and sleep or do sth else. If market ranges 70% of the time, what business do you have trend ff after market has moved by 40-50 pips in a day? That huge move you expect every day will never happen. Market will never trend more than 2-3 days in one way without a deep pullback in the opposite direction. Na wetin market don teach me be this... 3 Likes |
Re: Forex Trade Alerts: Season 23 by Kaybee7000(m): 6:20pm On Aug 10, 2023 |
Geovanni412: Funny u even if u are Befure u reply m, PEACE IS NOT AN OPTION O,I CHOOSE VAWULENCE INSTEAD βοΈβοΈ Risking |
Re: Forex Trade Alerts: Season 23 by OneMillionBTC: 6:26pm On Aug 10, 2023 |
Geovanni412: Some of the things we say Sha..... You can't say market will never .......... Listen, market can trend 10 days in one direction if it wants without a major pull back. Yes, market trends about 20 to 30 percent of the time and ranges more. But that your statement is not right. Maybe you haven't stayed long enough to see some "one way kind of" bad trend. Check GBPJPY fall in December of 2007, at least I can't forget this one. Or Check the USDJPY buy I just exited today. It bought from Monday to Today, Thursday... That is 4 days already. 5 Likes |
Re: Forex Trade Alerts: Season 23 by VeeVeeMyLuv(m): 6:28pm On Aug 10, 2023 |
Geovanni412:Bros Kindly consult Peteregwu I am sure he will have a different opinion |
Re: Forex Trade Alerts: Season 23 by TradingGod: 6:43pm On Aug 10, 2023 |
RKTexpert: Na Pinbar and Engulfing candlesticks una dey give all this plenty name so? 2 Likes |
Re: Forex Trade Alerts: Season 23 by Geovanni412(m): 6:46pm On Aug 10, 2023 |
Kaybee7000: You can collect 100 pips in a week from a pair in one day But if you try to get that in one day, you will end up with no money or no edge 9/10 times especially if you trade eurusd or usdchf with a stop loss >/=20 pips. More often than not, if market moves 40-60 pips in a day, it will reverse and eat the entire move length the next day or at least 50 percent of the previous direction The reason is simple. Market rarely ever overshoots the daily ATR value without ranging. For eurusd, that value hovers between 70-100 pips except during weird times like what happened around 2020 period where it was going for close to 150 pips. Market no dey move pass daily ATR 9/10 times for every bar on the chart Even on the few times it overshoots daily ATR, count it....I no dey pass 6 days in an entire month. So, what happens to the remaining 14 days...if you are trying to pass prop firm? 1 Like |
Re: Forex Trade Alerts: Season 23 by Jameselias: 6:46pm On Aug 10, 2023 |
MFFX now has balance based daily draw down |
Re: Forex Trade Alerts: Season 23 by friendbee: 6:46pm On Aug 10, 2023 |
says who? geedot: |
Re: Forex Trade Alerts: Season 23 by Geovanni412(m): 6:51pm On Aug 10, 2023 |
Geovanni412: For people wondering what ATR is, see more information here: https://www.google.com/amp/s/www.dailyfx.com/forex/education/trading_tips/daily_trading_lesson/2011/08/11/Measuring_Volatility_with_Average_True_Range.html/amp 1 Like |
Re: Forex Trade Alerts: Season 23 by OneMillionBTC: 6:56pm On Aug 10, 2023 |
meshpips: I just came to see all the drama here..... Hmmmm For the selfishness part in this industry, I will agree with you. It is true. Successful traders will not tell you "everything" they are doing. It cost them too much to become successful and so they will not reveal their trading secrets easily. Yes, they can help and guild other traders to make profit by allowing them follow their calls. But even their followers "cannot" be exposed to what he/she really knows. I am a successful traders so I know this. It took me 15 years to become consistent at making profit. I can show you my calls so you follow me and at times even reveal fragments of how I am trading (Elliot wave) but, I will be very foolish to just come here and reveal everything. So you are very correct, selfishness exist, but it will not stop. You have to earn their trust and loyalty before they can open up to you. I can hardly count the number of persons I have really revealed how I trade to. Yes, they earned it. And they are producing similar kind of my result. 1 Like |
Re: Forex Trade Alerts: Season 23 by Geovanni412(m): 6:58pm On Aug 10, 2023 |
OneMillionBTC: The rule is day 3 , expect a pullback . Worst case scenario is day 5 Anyway, I checked out gbpjpy on December 2007 The lines I showed are days in which it pulled back I don't know about you, but as a day trader, my stop loss is between 20-40 pips. On day 3, market entered a minor range , I marked the area On day 5 , market entered a much longer range, I also marked the area. You can confirm this from the chart as well. I didn't invent this principle and I know nothing works 100% of the time. Learnt it from the book Trading Price Action: Trends by Al Brooks. I also know of 10 days.... The rule of 8-12 bars of sakatas is that market gets exhausted within 8-12 bars of trending. I learnt that from reading Beyond Candlesticks by Steve Nison Fact of the matter is most of us are looking to trade on a day to day basis either for prop firm or personally. So, I gave a practical tip which can be verified by anybody After 2 outside bars, day 3 will be a pinbar or range day 9/10 times. 1 Like
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Re: Forex Trade Alerts: Season 23 by friendbee: 6:58pm On Aug 10, 2023 |
Good job sir, I am motivated. since you are Peter , can i be your Andrew. peteregwu: |
Re: Forex Trade Alerts: Season 23 by haryodehjia(m): 7:00pm On Aug 10, 2023 |
On the 1st of August I decide to get prop-firm account but had a change of mind to grow the account to at least $100 with $36 deposits before subscribing for pro-firm.. Then boom I funded deriv and traded synthetics and today the account is gone.. I went against my rule and traded synthetics which I vowed not to.. 7 Likes |
Re: Forex Trade Alerts: Season 23 by Niceguy24: 7:02pm On Aug 10, 2023 |
That was over a year ago. If i remember correctly, that was in December of 2021 π π I found it so funny back then Geovanni412: 1 Like |
Re: Forex Trade Alerts: Season 23 by Geovanni412(m): 7:07pm On Aug 10, 2023 |
OneMillionBTC: For your USDJPY trade, it obeys the same principle, The principle is simple... Day 3 or day 5 must be a range day Range day means pinbar On such a day, it is easy to miss your with trend entry or to think the market is reversing especially for newbie day trader That is the point I was making Abt being careful about day 3. If you saw my gold analysis earlier, people who entered shorts without waiting at swing high of daily chart around 1930 got slaughtered Attached are images..
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Re: Forex Trade Alerts: Season 23 by peteregwu(m): 7:08pm On Aug 10, 2023 |
geedot: Dey play....you lack how forex technicals work on the long run. Stop looking at the short run, it's short life. 4 Likes |
Re: Forex Trade Alerts: Season 23 by OneMillionBTC: 7:11pm On Aug 10, 2023 |
Geovanni412: You have said it all, you are a day trader. When I was a day trader, even 10 pips pull back felt like 100pips pull back. We don't trade similarly so I understand if you don't understand me. 1 Like |
Re: Forex Trade Alerts: Season 23 by peteregwu(m): 7:13pm On Aug 10, 2023 |
Someone said I was gambling when he saw my trades. He didn't know how I I have suffered in forex over the past 4yrs in gambling and you think, I will continue gambling without getting sense. What you see the way I trade I trade is pure technical analysis and not news or any other style. Let any gambler go and try those exotic pairs if you won't cry. There are levels to this game, yoh don't just see a trade and jump into into without proper analysis. Every trade is well calculated and I am happy that I do share it here sometimes before any move. You think say na play. Go and gamble it na if you think say na gambling. π 2 Likes |
Re: Forex Trade Alerts: Season 23 by OneMillionBTC: 7:14pm On Aug 10, 2023 |
peteregwu: I wish they will hear and understand this. At times when successful traders open up and reveal secrets like this, people over look them. Study successful traders and see how they trade, a major percentage of them swing trade. Some leave the position running for months. With one trade, they make terrible profit. 3 Likes |
Re: Forex Trade Alerts: Season 23 by boom99(m): 7:15pm On Aug 10, 2023 |
GabsonFX2: Bros you too good oooo. I wonder how you take master gold |
Re: Forex Trade Alerts: Season 23 by VeeVeeMyLuv(m): 7:17pm On Aug 10, 2023 |
peteregwu:Hahahaha π€£π Dem no fit try am Dem go wound 1 Like |
Re: Forex Trade Alerts: Season 23 by peteregwu(m): 7:23pm On Aug 10, 2023 |
peteregwu: It's like nzdjpy respected my level as I said. |
Re: Forex Trade Alerts: Season 23 by peteregwu(m): 7:26pm On Aug 10, 2023 |
VeeVeeMyLuv: I just dey vex. How will someone tell me I am gambling. Does he think I it's a joke for me to trade those exotic pairs like that without having knowledge of good technicals of how it works. Exotic pairs that is so difficult to trade. Na wao... ππ 1 Like |
Re: Forex Trade Alerts: Season 23 by rhynoemmie(m): 7:29pm On Aug 10, 2023 |
Geovanni412: This your chart is on point. If you see the way I'm waiting for this pair to fall gon |
Re: Forex Trade Alerts: Season 23 by GabsonFX2: 8:01pm On Aug 10, 2023 |
5 Likes 1 Share |
Re: Forex Trade Alerts: Season 23 by GabsonFX2: 8:05pm On Aug 10, 2023 |
5 Likes |
Re: Forex Trade Alerts: Season 23 by Bimmarlykay(m): 8:14pm On Aug 10, 2023 |
Geovanni412: Bros is you me cus this my pattern. 2 Likes |
Re: Forex Trade Alerts: Season 23 by GabsonFX2: 8:25pm On Aug 10, 2023 |
1 Like |
Re: Forex Trade Alerts: Season 23 by Kaybee7000(m): 8:39pm On Aug 10, 2023 |
GabsonFX2: I stopped replying him too chief ,his view ,his strategy π |
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