Forex Trade Alerts: Season 23 - Business (673)

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Re: Forex Trade Alerts: Season 23 by DXYY: 5:55pm On Sep 05, 2023

Hello house , this is dottozil and this is my second account.

Re: Forex Trade Alerts: Season 23 by DXYY: 5:56pm On Sep 05, 2023

Davigle:

The wéré no gree fall since morning ooo, I have been heavily bearish on it and have been waiting for an opportunity to sell since mawnin, but the oloshi just dey rise like puff puff, imagine 116 pips rally so far. I was expecting it to fall before it rise but I guess I missed out on UJ

It's not ripe yet.

2 Likes

Re: Forex Trade Alerts: Season 23 by dmahn(m): 6:07pm On Sep 05, 2023

Ibrahimlagosian:
Currently on a short position on NASDAQ .Determined to pass phase one with one trade,the trade might take 2 day.I risked 2% on this trade.1:4 RRR

You didn't do well at all cheif. It's not my account actually but I be human and I won't be happy seeing your 25k account disappears just like that... Why risk 2% on a trade and expecting to pass a phase with just 1 trade... Risk management is Key... Don't risk more than $100 on any trade no matter how sure the setup is.. That's 4% of your 2500 account if the 25k account has a MDD of 10%.

1 Like

Re: Forex Trade Alerts: Season 23 by Ibrahimlagosian(m): 6:10pm On Sep 05, 2023

Thanks bro

dmahn:

You didn't do well at all cheif. It's not my account actually but I be human and I won't be happy seeing your 25k account disappears just like that... Why risk 2% on a trade and expecting to pass a phase with just 1 trade... Risk management is Key... Don't risk more than $100 on any trade no matter how sure the setup is.. That's 4% of your 2500 account if the 25k account has a MDD of 10%.

Re: Forex Trade Alerts: Season 23 by dmahn(m): 6:19pm On Sep 05, 2023

Price moving gradually to the first sell zone.. If no H4 bearish clue at the zone, I will wait till price comes to the second zone, to hit my falling Trendline, blue MA and the last buy to sell candle.. Enuf confluences to short with proper risk management cool

Re: Forex Trade Alerts: Season 23 by Lanshile(m): 6:32pm On Sep 05, 2023

dmahn:

You didn't do well at all cheif. It's not my account actually but I be human and I won't be happy seeing your 25k account disappears just like that... Why risk 2% on a trade and expecting to pass a phase with just 1 trade... Risk management is Key... Don't risk more than $100 on any trade no matter how sure the setup is.. That's 4% of your 2500 account if the 25k account has a MDD of 10%.

I wanted to tell him something similar when I saw him take the risk on NASDAQ
I just had to keep mute and hope his trade goes right
Ibrahimlagosian since you've bought the account already rather use it as a learning curve
I also don't trade demo because I find it hard to focus on it but always fund my live account then use the lowest lot size of 0.01 with sl
With this I always give everything because I don't want to lose my money and I want to learn
(Use the lowest lot size that will make you pick lot of trade without hitting the daily drawdown
Calculate how much you want to risk base on the value of the DD figure in a day)
I had to use the sentence in the bracket because your desperation to trade will be pushing you judging from your action so far
Doing this will make you learn on the go and at the same time shooting to pass the phases
Just because you have the money to buy an account anytime doesn't mean you should be wasting the opportunity others are desperate to have

1 Like

Re: Forex Trade Alerts: Season 23 by AK284(m): 6:44pm On Sep 05, 2023

Skanas:

Like why will a true trader lose all his/her fortune in a day, when you have your SL and MM tools to protect your account when your analysis is wrong?

Infofirst You’ve said it all jareee @the bolded ...
Only those that gamble forex, equate forex trading to gambling...

I think all forms of speculation which forex,stocks,bonds,etc are part of have some similarities to gambling.
Since their are so many uncertainties involved.
Some school of thought believed that wallstreet is the greatest casino on Earth.

But let me quote a chapter inside the book of Dickson G Watt " Speculation as fine art" written 1965: "Is there any difference between speculation and
gambling? The terms are often used interchangeably,
but speculation presupposes intellectual effort; gam-
bling, blind chance. Accurately to define the two is
difficult; all definitions are difficult. Wit and humor,
for instance, can be defined; but notwithstanding the
most subtle distinction, wit and humor blend, run into
each other. This is true of speculation and gambling.
The former has some of the elements of chance; the
latter some of the elements of reason. We define as
best we can. Speculation is a venture based upon calcu-
lation. Gambling is a venture without calculation. The
law makes this distinction; it sustains speculation and
condemns gambling.
All business is more or less speculation. The term
speculation, however, is commonly restricted to busi-
ness of exceptional uncertainty. The uninitiated
believe that chance is so large a part of speculation
that it is subject to no rules, is governed by no laws."

I hope the definition can do justice to this age long argument.
Over the course of history one thing is common if you see a "successful" gambler,95% chances are they will be successful in trading if they do small studying of the market.
That should tell you that, to be successful in both,you need : system,good psychology, money management,not following the crowd e.t.c.
Basically all the books I have read about successful gambling were recommended to me on trading forum.
Books like:Secret to succeful turf betting by R.L Bacon, Thinking in bets by A.Duke and my personal favorite: fortune's formula by William Poundstone.
If you are trader pls read that Fortune's formula.It's an amazing book about two academic scholar that run casino down and took the same feat to wallstreet and became great there.

4 Likes 1 Share

Re: Forex Trade Alerts: Season 23 by XAUBulls: 6:45pm On Sep 05, 2023

Davigle:

The wéré no gree fall since morning ooo, I have been heavily bearish on it and have been waiting for an opportunity to sell since mawnin, but the oloshi just dey rise like puff puff, imagine 116 pips rally so far. I was expecting it to fall before it rise but I guess I missed out on UJ

Lol... "The oloshi just dey rise like puff puff." That cracked me up.

"The trend is your friend until it bends."

1 Like 1 Share

Re: Forex Trade Alerts: Season 23 by GabsonFX2: 7:02pm On Sep 05, 2023

8 Likes 1 Share

Re: Forex Trade Alerts: Season 23 by XAUBulls: 7:03pm On Sep 05, 2023

Emmizay12:
I have stated many times on this thread on why I believe Trading is Gambling

in no way am I trying to paint trading in a bad light, I used to be highly against the notion of trading not being gambling until my losses in forex started piling up.

I began to make some research on gambling and the similarities was staggering....

a gambler makes bets, a trader places trades
a gambler looks at odds, a trader Risk to Reward
a gambler looks at team stats, a trader Backtests
a gambler and a trader both have winning streaks
and losing streaks
both are constantly trying to predict the future
both believe they can achieve financial freedom
both have 95% who lose money constantly and 5% who make large withdrawals
both can lose all their fortune in a day

but at the end of the day Forex traders have it worst, why? they still want to believe they are not gamblers,, and that right there makes it difficult for their brains to fully permit them to take on the mindset and form of a Truly profitable Trader...

Insightful. But...

When you read Mark Douglas' "Trading in the Zone," you will learn the art and science of minimizing trading loses that give losers and newbies the illusion of gambling.

1 Like 1 Share

Re: Forex Trade Alerts: Season 23 by XAUBulls: 7:08pm On Sep 05, 2023

Skanas:

Like why will a true trader lose all his/her fortune in a day, when you have your SL and MM tools to protect your account when your analysis is wrong?

Infofirst You’ve said it all jareee @the bolded ...
Only those that gamble forex, equate forex trading to gambling...

Very well said.

Re: Forex Trade Alerts: Season 23 by AK284(m): 7:09pm On Sep 05, 2023

GabsonFX2:
Silver: Hoping to hit $4K on that take profit in few days.....fingers crossed.

You do "to" with gold eairler now you're "Floing " with silver.
I don join the bus too.

2 Likes

Re: Forex Trade Alerts: Season 23 by XAUBulls: 7:15pm On Sep 05, 2023

infofirst:

You do not know the difference between trading the forex market and gambling the forex market. You can never lose your whole fortune in a day if trading the forex market but you can if gambling the forex market

Indeed. This applies to all assets in financial markets as well. Great thread.

Re: Forex Trade Alerts: Season 23 by karkinase(m): 7:40pm On Sep 05, 2023

Ibrahimlagosian:
Wayyo ,someone is -2%,the trade ran into my SL,we go again later

Ibrahim Yu playing with fire.. you never be veteran you carry dey trade Nas.. Ok continue

Re: Forex Trade Alerts: Season 23 by dmahn(m): 7:45pm On Sep 05, 2023

Trading is Gambling, Oya yes! I agree with you, So what point are you trying to proof to the whole house? Gambling isn't good for a child of God grin

? We've heard you, Just leave this thread for us and let us rest😂.. You may be gambling, but me im buying goods at a cheaper price to sell at higher price. If the price of the goods falls when I want to sell, I loose, if there is higher demand for the good when I want to sell, I sell higher.... In as much as what we do in this business is just Buy&Sell, I'm very OK... What are the football gamblers buying and selling? grin

... Hope?

1 Like

Re: Forex Trade Alerts: Season 23 by rhynoemmie(m): 7:46pm On Sep 05, 2023

Elliotwaveforec:

No touch am o! Na one-way traffic be UJ o. 150.00 too sure.

Make i give am covid distance b dat na

1 Like

Re: Forex Trade Alerts: Season 23 by rhynoemmie(m): 7:47pm On Sep 05, 2023

kozmicity:

I saw this too late. It hit my SL.

No ish
Let me see what kind of pattern it will print

Re: Forex Trade Alerts: Season 23 by TradingGod: 7:52pm On Sep 05, 2023

dmahn:
Trading is Gambling, Oya yes! I agree with you, So what point are you trying to proof to the whole house? Gambling isn't good for a child of God ? We've heard you, Just leave this thread for us and let us rest😂.. You may be gambling, but me im buying goods at a cheaper price to sell at higher price. If the price of the goods falls when I want to sell, I loose, if there is higher demand for the good when I want to sell, I sell higher.... In as much as what we do in this business is just Buy&Sell, I'm very OK... What are the football gamblers buying and selling? ... Hope?

In forex trading You can take 10 trades and lose 3 trades and still be profitable grin

But you see Alabi, if you like win 1 million games but make one game lose, na that time you go know the difference between plantain and banana embarassed

Re: Forex Trade Alerts: Season 23 by seeteazain(m): 7:54pm On Sep 05, 2023

TradingGod:

In forex trading You can take 10 trades and lose 3 trades and still be profitable

But you see Alabi, if you like win 1 million games but make one game lose, na that time you go know the difference between plantain and banana

You haven't heard of flex in betting?

Re: Forex Trade Alerts: Season 23 by TradingGod: 7:56pm On Sep 05, 2023

Descending Triangle forming at 15min US30

1 Like

Re: Forex Trade Alerts: Season 23 by Ibrahimlagosian(m): 7:58pm On Sep 05, 2023

Yep but i recovered my loss plus some little change on top sha kiss

karkinase:

Ibrahim Yu playing with fire.. you never be veteran you carry dey trade Nas.. Ok continue

Re: Forex Trade Alerts: Season 23 by TradingGod: 7:59pm On Sep 05, 2023

seeteazain:

You haven't heard of flex in betting?

guy, die this matter angry

Re: Forex Trade Alerts: Season 23 by Arkadrob(m): 8:16pm On Sep 05, 2023

Traders what is your take on GBPUSD? It's looking bearish but daily candle close will decide my next action. That's my opinion.

Re: Forex Trade Alerts: Season 23 by Davigle(m): 8:40pm On Sep 05, 2023

Evening house, so I started the week positive as I had a wining trade yesterday which netted me a +0.9% increase on my acct, despite the market was slow yesterday. But today, I had losing trades and I barely brought my account to almost breakeven. This happened because I broke my trading rules today. I FOMO'ed and I also traded outside my specific trading time which is the NY session. To be honest I was greedy and I did not wait for my setups to form fully b4 I took my trades and as usual the market gods did not hesitate to give me a resounding smack. This is the first trading competition that I have joined and as a JJC, even though I am optimistic about my performance, I was so eager to grow my account which led to my irresponsible attitude today due to my greed and impatience. I have learned my lesson and I am strictly going back to my trading rules. The reason why I am typing this because I really want to hold myself accountable so that I can build discipline and consistency...

5 Likes 2 Shares

Re: Forex Trade Alerts: Season 23 by charly20(m): 8:42pm On Sep 05, 2023

dmahn:
What are the football gamblers buying and selling? ... Hope?

This thing na the funniest take I don see for this matter
😂😂😂

1 Like

Re: Forex Trade Alerts: Season 23 by Feshizzy(m): 8:45pm On Sep 05, 2023

KALMA1:

I have a history on this thread of my case mesach ,you can go back in this thread
if you want truly refund or contact me personally, and stop this activity
You want to refund,action speaks louder than words .
If you have refund any one I should have got testimonies from others .

Cc gabsonfx2

He is the one doing the refunding
I'm just here to bring it to your notification.

I already told him there's precedence on this matter already, if he does his research.

Re: Forex Trade Alerts: Season 23 by Davigle(m): 8:47pm On Sep 05, 2023

Arkadrob:
Traders what is your take on GBPUSD? It's looking bearish but daily candle close will decide my next action. That's my opinion.

I am bearish on GU.

Re: Forex Trade Alerts: Season 23 by Puremark(m): 8:55pm On Sep 05, 2023

Pls I need trading mentor. Am new to forex trading.

Re: Forex Trade Alerts: Season 23 by Puremark(m): 8:58pm On Sep 05, 2023

Pls I need help.what is best trading app for beginners.
.

Re: Forex Trade Alerts: Season 23 by seeteazain(m): 8:58pm On Sep 05, 2023

TradingGod:
guy, die this matter

Even though I no believe say forex na gamble but your game fit cut and dem still pay you

Re: Forex Trade Alerts: Season 23 by bigbasho: 9:09pm On Sep 05, 2023

Because I am not a gambler grin

. I am still holding my trades. I mis-calculated my moves and I have to correct it. A step at a time now

Re: Forex Trade Alerts: Season 23 by Arkadrob(m): 9:36pm On Sep 05, 2023

Davigle:

I am bearish on GU.

Nice! It's bearish no doubt. The close of the daily candle will indeed tell a lot on my next move.

1 Like

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