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Nairaland Forum / Nairaland / General / Business / Forex Trade Alerts / Discussions: Season 24 (315786 Views)
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Re: Forex Trade Alerts / Discussions: Season 24 by GabsonFX2: 3:44pm On May 29, 2024 |
If today closes bearish, I'm going on a standby for about 3 to 5days. Hopefully, not up to that. |
Re: Forex Trade Alerts / Discussions: Season 24 by DXYY: 4:42pm On May 29, 2024 |
DXYY: Closed at 39 pips profit |
Re: Forex Trade Alerts / Discussions: Season 24 by DXYY: 4:51pm On May 29, 2024 |
AUDUSD Sold Sl; 0.66836 Tp1; 0.64 Tp2; 0.60 |
Re: Forex Trade Alerts / Discussions: Season 24 by Succhrisfx: 5:25pm On May 29, 2024 |
Consistency! 1 Like 1 Share
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Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 5:34pm On May 29, 2024 |
Pondabrown:The method I currently trade now is purely continuation pattern. So in case I might not be online when market wanna breeze through my zone, buy/sell stop will help pick it along. Like this GU trade here, I already set a sell stop before I went offline, I didn't know what I came back to do online. So I deleted it and wanted to wait for the candle closure, only for the candle to close 15pips away from me. Couldn't enter anymore. See the result below. This week ehn. I no go talk. 2 Likes
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Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 5:36pm On May 29, 2024 |
This week ehn, my eyes don see shege, shege don see me. Missing winning trades entry, the ones I'm online to pick up, na those ones want to dance to stoploss. Thank God for trade management skill. 1 Like
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Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 5:39pm On May 29, 2024 |
All the trades taken this week so far. Not a bad one if you asked me. But it could have been better. God knows I'm not trading on Friday this week. Once I can't find reasonable opportunities tomorrow, I close the warehouse for the week and we open again next week. Breakeven don do me shege banza. 1 Like
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Re: Forex Trade Alerts / Discussions: Season 24 by Theophinio(m): 5:42pm On May 29, 2024 |
Emmizay12: Sir. Which broker are you trading with |
Re: Forex Trade Alerts / Discussions: Season 24 by Pondabrown: 5:53pm On May 29, 2024 |
Cashhy11: Thanks for the explanation, bro. |
Re: Forex Trade Alerts / Discussions: Season 24 by Succhrisfx: 6:15pm On May 29, 2024 |
Succhrisfx:UPDATE. Trade is up +90Pips. An extra of 110pips is needed before tp is reached. I’m anticipating a retracement by tomorrow or Friday, before a further push. 3 Likes
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Re: Forex Trade Alerts / Discussions: Season 24 by Succhrisfx: 6:27pm On May 29, 2024 |
Succhris: UPDATE. Trade is up +170pips. Tp might come in at Asia. There’s potential to the upside. 2 Likes
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Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 8:09pm On May 29, 2024 |
ICTcadet:Not a stupid question, it's the miseducation from the onset that caused it. Must you catch 1000pips to become profitable? No! Just be right more times than you're wrong, and you're good to go even if you trade a 1:1rr. @thread I just need a simple answer to one question. Trader A: Risks 15pips to catch 45pips, average trades per month: 12. Win rate: 50% Trader B: Risks 80pips to catch 240pips, average trades per month: 5. Win rate 60% Who's the better trader, and more likely to yield more return at the end of the year? To my bosses, @infofirst, & @gabsonfx2. I would like to hear your opinions on this. I know Boss info is a strict #team higher pips with lower lots. I'm just curious as to why most people frowns so much at day trading, while swing trading is more respected among "professionals" |
Re: Forex Trade Alerts / Discussions: Season 24 by DXYY: 9:28pm On May 29, 2024 |
Cashhy11: Am not too good with math but I think using the same lot size trader B is more likely to get more returns due to his win percentage since both are operating in a 1-3 RR, However swing trading has some advantages 1) it gives peace of mind ( if trader B place a trade and watches the market do its thing trader B would have entered And gone out of the same particular trade more than 5 times 2) Swing trading is stress free 3) you will have time for other things like your job. All these are just my thought though, at the end of the day na evidence matter. What an educative question, weldone 1 Like |
Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 9:52pm On May 29, 2024 |
DXYY:Trader B will definitely yield more return if they both used the same lot sizes. But remember trader B will also have higher drawdowns when the losing streak comes knocking as a disadvantage of the huge stoploss required to swing comfortably. One 80pips SL loss on Trader B account, is more than 15pips SL x 5 = 75pips of trader A. Also, about the stress-free aspect: The day trader might just decides to trade only 2days out of the 5trading days of the week, and have the rest of the three days to do other things too. Doing that alone, the stress part has been combated. |
Re: Forex Trade Alerts / Discussions: Season 24 by Jameselias: 9:55pm On May 29, 2024 |
Hahahahaha 🤣 1 Like
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Re: Forex Trade Alerts / Discussions: Season 24 by Succhrisfx: 9:55pm On May 29, 2024 |
“By default, only selected few will be at the top of their career. Or be in the middle class and above. There is no spirituality or level of work that will change that. But the good thing is that, most of us have the ability to determine where we can be in the pyramid of life and only few have no control over that and example is that child born with all form of disabilities you can think of. Impatience, indiscipline, greediness name it makes it almost impossible for most of us to explore the potentials we have. There will be many losers in fx just as it is in life. It is not a curse. It is law of nature. If every man is awarded $1billion today with no inflation. In less than one month... There will be millions of men with nothing to their name again. Do you know how many millions tried to have a site like nairaland but never made it. Is it safe for me to say that trying to be a blogger or website owner is a mission impossible? Forex trading is profitable. But 1% or less traders will be profitable from it. Medicine is profitable but less than 1% will be able to become medical doctor........ It is what it is.“ -Infofirst 3 Likes |
Re: Forex Trade Alerts / Discussions: Season 24 by DXYY: 10:03pm On May 29, 2024 |
Cashhy11: You are right on the stress free aspect, but about the SL that's where risk management comes in, trader B can risk 80 pips and still lose the same amount of money as trader A with 15pips. 2 Likes |
Re: Forex Trade Alerts / Discussions: Season 24 by GarkiAccessory(m): 10:07pm On May 29, 2024 |
Please fam just take a good look at Dow Jones (US30). Casshy11 🙏 weldone Boss |
Re: Forex Trade Alerts / Discussions: Season 24 by susaeta: 10:13pm On May 29, 2024 |
If you’re using Deriv to trade, you can fund your account with as low as $1 and also withdraw from your account as low as $1. Very swift and smooth. Agent is tested and trusted. Chat me up on telegram @dchossen1 for the group linK. |
Re: Forex Trade Alerts / Discussions: Season 24 by GabsonFX2: 11:24pm On May 29, 2024 |
samfelly: |
Re: Forex Trade Alerts / Discussions: Season 24 by TradingGod: 11:40pm On May 29, 2024 |
Succhrisfx: I don't believe this take at all Anybody can be successful in any career if they put the required work in 1 Like |
Re: Forex Trade Alerts / Discussions: Season 24 by GabsonFX2: 11:54pm On May 29, 2024 |
It's long but digest it The answer is in DXYY. See below, I will add. First is: The both traders will apply very different risk/money management in the form of lot size. They can never ever be the same, which simply means they both risk same amount in value not pips. E.g., For a $1K personal account. If A uses 0.5 lots,he risks $75 on each trade. That's just 7.5% loss. Trader B would have (must) to use 0.09 lots to risk same $75, loss 7.5%. Trading style (scalp, day, swing, position) should never be the reason anyone crashed an account cos risk/money management has to be adjusted as per each. The above example is an ideal case and that's what I will use if I'm to be a trader A or B. Any of the two has a tendency to be profitable, there is no better one. However, if the both traders trade, the win rate you gave B is more than A, which makes your example a biased one, therefore making B profitable in the long. But say they both have same win rate 50%, the fact that they trade RRR higher than 1 to 1. They will again be both profitable, none is better than the other. All said: one thing that will distinguish them for sure and in the long is edge. In all you do: edge is No. 1, if you like, apply the best risk money management, use 0.01 lot size on a $10,000 account - without an edge, you will still blow that account, it may just take time, but eventually, you will blow the account. So I will say: first thing is to have an edge: KNOW HOW TO TRADE! Psychology is nothing to me: your edge builds your Psychology, edge makes you money, edge is what tells you when to go in and out or standby. Psychology feeds on your edge. Above all: B would be more profitable cos he naturally is a swing trader and taking 5 trades per month is just the optimum required of him, however, A is naturally a day trader and can be a scalper in big events, 12 trades in a month is not reaching the optimum number of trade for that style, this simply means: A wil be losing out on many trade opportunities trading 12 per month. Selah! Cashhy11: DXYY: 5 Likes |
Re: Forex Trade Alerts / Discussions: Season 24 by Succhrisfx: 12:24am On May 30, 2024 |
“To become a profitable trader, you MUST know how to trade” -Gabsonfx 2024 1 Like |
Re: Forex Trade Alerts / Discussions: Season 24 by Succhrisfx: 12:27am On May 30, 2024 |
Presently, I’m having a short bias on gold. Waiting for a retracement to 2354 region with a valid confirmation to go short. |
Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 2:20am On May 30, 2024 |
GabsonFX2:This man ehn🤐. You don't know how privileged I feel hearing ideas from you. People pay alot just to have questions like this answered by someone like you. Thanks once again bosse🙌 Note: Psychology feeds on edge. |
Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 2:32am On May 30, 2024 |
I'm online, and this just crossed my eyeing zone, so I shorted it already. Hopefully I wake up to blues and not red. I only risked 0.5% on this, took two trades at Tokyo session this week already with 0.2%, and they both turned out green. So I've increased to 0.5% on this. There's USD news at 1:30pm and 3pm today, so today's trading opportunities are already limited since I don't have open trades before, during and immediately after news event. It just made sense to take this and call it a week, since it passed all the criteria. 1 Share
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Re: Forex Trade Alerts / Discussions: Season 24 by FXcandles(m): 3:06am On May 30, 2024 |
US crude oil prices fell yesterday from a high of 80.38 to a low of 78.79. Oil prices are still having difficulty maintaining the 80 price level, which is a psychological level near the upper band line. A number of analysts estimate that the decline in oil prices is related to Minneapolis Fed President Neel Kashari's hawkish comments, which predict that there is a chance of the Fed increasing interest rates. High interest rates can hinder economic growth and reduce oil demand. Minneapolis Fed Bank President Neel Kashkari said in an interview with CNBC broadcast, "I think the chances of us raising interest rates are pretty low, but I don't want to take any risks." CME FedWatch data shows a decrease in the chances of the central bank lowering interest rates from the previous 57.5% to 46%, reflecting that investors' confidence in the FED will reduce interest rates is starting to fade. The market now is still waiting for the OPEC+ meeting which will be held on June 2, which will likely maintain the policy of limiting production to support crude oil prices. 1 Like
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Re: Forex Trade Alerts / Discussions: Season 24 by LincolnOnyeabor: 3:10am On May 30, 2024 |
If GabsonFX2 explains something to you and you don't understand it, omo your case go need SPECIAL MOUNTAIN PRAYERS ON LIKE 7 HILLS AND 15 MOUNTAINS oo See explanations fa. Na that edge now I dey work on. Let me discover myself in this Space. 2 Likes |
Re: Forex Trade Alerts / Discussions: Season 24 by DXYY: 5:10am On May 30, 2024 |
GabsonFX2: Weldone boss, awesome |
Re: Forex Trade Alerts / Discussions: Season 24 by BinaryRocks: 5:29am On May 30, 2024 |
GabsonFX2:FACT! 2 Likes
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Re: Forex Trade Alerts / Discussions: Season 24 by Donsheddy: 6:43am On May 30, 2024 |
Gold screaming selll... And dump 2288 in view If they break past 2260 Then 2085 is also in view |
Re: Forex Trade Alerts / Discussions: Season 24 by GabsonFX2: 6:51am On May 30, 2024 |
This week trades, attached. Gold is making another swing short attempt after many tries since Feb 13, I have shorted with SL at 300 pips gap....swing trading. 3 Likes 1 Share
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