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Nairaland Forum / Nairaland / General / Business / Forex Trade Alerts / Discussions: Season 24 (210285 Views)
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Re: Forex Trade Alerts / Discussions: Season 24 by nzechu(m): 7:05am On May 30 |
Donsheddy:what tools do u use, to make these predictions of where u expect price to get to |
Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 7:17am On May 30 |
Cashhy11:Woke up to this. Lovely way to start the day. 1 Like
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Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 7:18am On May 30 |
Gold short, waiting for this M15 candle to close below this recent low and I'm going in, but I'm always conscious with this fella. Entering with 0 5%. Modified: It's decided to go up a little before coming down, order cancelled for now. Until it's made up its mind. 1 Like
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Re: Forex Trade Alerts / Discussions: Season 24 by Donsheddy: 7:30am On May 30 |
nzechu: Just candle sticks, and a little touch of moving average... Support and resistance js there too... |
Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 7:38am On May 30 |
If GU can close below this recent low, I'm going short till 1:20pm to come close it, that's if I hadn't been stopped out already. Last trade for the day, if it closes below with this candle. Modified: It flipped and closed below the recent low signifying some more moves to the downside. I'm in already. Have a profitable ahead. 1 Like
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Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 7:41am On May 30 |
DXYY:Lool. When it was about the profit aspect, you assumed they'd use the same lot sizes, but now it's about loss, you brought risk management and position sizing into the picture. You're funny. |
Re: Forex Trade Alerts / Discussions: Season 24 by DXYY: 7:51am On May 30 |
Gbpchf Sell SL; 1.16840 Tp1; 1.12019 Tp2; 1.06 |
Re: Forex Trade Alerts / Discussions: Season 24 by DXYY: 8:02am On May 30 |
Cashhy11: You got me wrong I made use of thesame lot size just for the sake of knowing who will be more profitable however even at slightly different lot sizes trader B still stands a chance at the long wrong you, you also dint factor alot things as regards trader A, 15 pips is subject to more break even trades, in reality can a 15 pips stop loss have 50 percent win rate? |
Re: Forex Trade Alerts / Discussions: Season 24 by BrightFuture48: 9:00am On May 30 |
GabsonFX2:Big Boss pls recheck...I think the up swing has commence in earnest for next few days perhaps heading towards making a double top at D1 tf |
Re: Forex Trade Alerts / Discussions: Season 24 by GabsonFX2: 9:09am On May 30 |
Thanks boss for the headsup: I would normally wait for today's candle to close bearish before short but I wanted to enter early and if it eventually closes bearish, I would have been in profit. I caught the first move of 120 pips, but price retraced back to my entry. Now I'm thinking, should I exit and properly wait to see if today will close bearish or I shd just risk it. BrightFuture48:
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Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 9:47am On May 30 |
Cashhy11:SL hit on this one, immediately I saw that momentum in that long bullish candle, brought my SL down 2pips lower to take a lower loss as I was not going to give all my last won trade wins to this loss. Done trading for the week. We go again the next. Opened the week with a loss, and closed the week with a loss but still ended up a profitable week nonetheless.
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Re: Forex Trade Alerts / Discussions: Season 24 by infofirst(m): 9:49am On May 30 |
TradingGod: It's alright for you not to believe boss mi. Our beliefs is a product of our experience and other x factors. Everyone is correct in their own way. Time will eventually tell. 5 Likes |
Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 9:58am On May 30 |
DXYY:And the swing trader won't have breakevens too? 1:3rr is 1:3, if the SL is 100pips or 10pips. You're both subjected to the same failure or success. My stoplosses are mostly less than 15pips and I have more than 70% win rate, so what are you talking about in reality? I've swing traded before and my 60-100pips SL were still hitting than my 7-10pips stoplosses does now. |
Re: Forex Trade Alerts / Discussions: Season 24 by infofirst(m): 10:05am On May 30 |
Cashhy11: Above kind of answer some of these. I am team higher pips o. When I first learn on baby pips some 17 years ago, one of the core rules was to make pips and keep pips. And in reality, I have seen traders that makes plenty pips remaining in the market in the long term. I am yet to see one that makes tiny pips, big lots lasting long. Maybe when I do see, I will change my mind. Check out Darwinex, it's a typical example. Check out @shevychen2. No one can rule out edge o. But most times when I emphasize Risk mgt, it is because I know deep down that most traders don't have an edge in the first place and putting risk mgt in place will keep you longer and perhaps you might develop an edge before your acct hit DD. I think trader B will be more profitable at the end of the year.... 7 Likes 1 Share |
Re: Forex Trade Alerts / Discussions: Season 24 by DXYY: 10:07am On May 30 |
Cashhy11: Don't get me wrong, what I said are just my assumptions am not arguing, there's really no right or wrong way to approach the market as long as it's working for you no qualms. 4 Likes |
Re: Forex Trade Alerts / Discussions: Season 24 by DXYY: 10:20am On May 30 |
infofirst: Well said boss |
Re: Forex Trade Alerts / Discussions: Season 24 by obajoey(m): 10:23am On May 30 |
obajoey: After 8days, price returned to pick entry from the identified area. |
Re: Forex Trade Alerts / Discussions: Season 24 by peteregwu(m): 11:29am On May 30 |
peteregwu: My EURCHF is plummeting... The drop is madness. 🤑🤑🤑 3 Likes 2 Shares |
Re: Forex Trade Alerts / Discussions: Season 24 by BinaryRocks: 11:33am On May 30 |
infofirst:FACT! |
Re: Forex Trade Alerts / Discussions: Season 24 by Succhrisfx: 12:10pm On May 30 |
Cashhy11:Lol. Swing trading doesn’t necessarily require 60-100pips sl.The name “swing “ comes from how long you are willing to hold the trade. Like Infofirst said, swing trading will keep newbies and amateurs longer in the market before losing it all because they don’t have an edge. So while trading what they know, they keep gaining experience even with the losses. Everything Infofirst is saying has to do with managing the losses. “It is not a bad thing to lose,but if you are going to lose, lose reasonably “ -Infofirst 2024 2 Likes 1 Share |
Re: Forex Trade Alerts / Discussions: Season 24 by GarkiAccessory(m): 12:13pm On May 30 |
peteregwu: Bravo 👍👍👍 Their centr bank met today by 1am Then release impt economic news by 7 & 8am of which GDP was positive 1 Like |
Re: Forex Trade Alerts / Discussions: Season 24 by meshpips(m): 1:17pm On May 30 |
Cashhy11: Risk to reward for both traders is same (1:3 RR) Trader A 12 trades at 50% win = 6 wins at 3R each = 18R 6 losses at 1R each = 6R Net profit at end of month = 18R - 6R = 12R Trader B 5 trades at 60% win rate = 3 wins 3 wins at 3R each = 9R 2 losses at 1R each = 2R Net profit at end of month = 9R - 2R = 7R Trader A makes 12R while Trader B makes 7R Trader A is the more profitable trader. 2 Likes |
Re: Forex Trade Alerts / Discussions: Season 24 by meshpips(m): 1:26pm On May 30 |
Geovanni412: A quick correction here: Contract size under symbol properties simply show how many UNITS is one standard lot. For currencies, we have 100,000 contract size. Meaning that 1 standard lot = 100,000 units. 0.10 lot size will be 10,000 units etc. If the contract size is 10 that simply means that 1.00 lot size is ten times the price quote while 0.10 lot size will be one times the price quote. An instrument with contract size of 1, means that 1.00 lot size is equal to one times the price quote. 1 Like |
Re: Forex Trade Alerts / Discussions: Season 24 by Geovanni412(m): 1:33pm On May 30 |
meshpips: Ok, well explained, chief My explanation was very limited to understanding quick risk calculation on USD -based indices (us500, us30) for people that would be surprised to open the same position with two brokers and see different profit or loss scenarios. 1 Like |
Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 1:44pm On May 30 |
meshpips:Same thing I thought. I think people would rather lose money in a month than have it lost in a day. So they prefer swing type of trading because at least, their investment can't just be swooped within 2hrs of trading, mostly dancing around for days before their stoplosses hit. It feels safer in a way, because a losing streak for a day trader is more devastating than a losing streak for a swing trader. Revenge trading, over trading etc are common with day traders than the swingers. And a day trader could also lose three trades a day easily, meanwhile it rarely happens to a swing trader, unless he's heavily invested on a particular pair and the pair crashed for the day. But a day trader will always make more returns than swing traders. That's a fact. It's the other side and advantages associated with swing trading that makes it more appealing to investors. Less risk with returns, no matter how small. The emphasis on the less risk. How have you been sir btw? 2 Likes 1 Share |
Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 1:47pm On May 30 |
Succhrisfx:You know I just started trading last night, so forgive me if I don't know what swing trading is. If you are willing to hold trade for long? Wouldn't it require higher stops than the average day traders? Dapo Willis even uses up to 100pips sometimes, peteregwu, Gabson etc.. Most professional swing traders rarely use any less than 40-50pips. I'm not talking about some wannabe swing trader here. |
Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 2:12pm On May 30 |
This looks too juicy. But it's just for learning purposes. 1:2.59rr. Learned this from @peteregwu. Break of SorD, go and wait for it at a possible retest zone and ride it to the final destination. I'm done trading for the week, just wanna see how it works. It worked perfectly with AU. Missed EG by some pips, would have worked out too. Waiting to see if EU works out too. I will backtest it for the weekend, and demo it throughout next week, if it works fine. Peteregwu agba🙌 has just made me a better trader. Still the same entry requirements, instead of joining at higher price, will just wait for a little retest instead. Stoploss size reduced, and TP size widened. 1 Like
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Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 2:40pm On May 30 |
XauUsd, entry adjusted. Let's see.
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Re: Forex Trade Alerts / Discussions: Season 24 by GabsonFX2: 2:55pm On May 30 |
This trade was not fully formed before I shorted it and I mentioned that, and added that I wanted to risk it. Truly, it is currently reversing against me after she moved 120 pips in my favour. However, However, However. I went to scalping and now have made the profits I need to balance and break even the loss in case I close this currently running short.....attached are my profits from the scalping. We die here ![]() GabsonFX2:
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Re: Forex Trade Alerts / Discussions: Season 24 by GabsonFX2: 2:55pm On May 30 |
Re: Forex Trade Alerts / Discussions: Season 24 by Cashhy11: 2:56pm On May 30 |
This one has activated, but it has already tapped that resistance which was the TakeProfit. It could be the resistance sending it downwards. This trade looks dicey. But let's see how it goes.
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Re: Forex Trade Alerts / Discussions: Season 24 by samfelly: 2:57pm On May 30 |
Gold Buy Limit 2338.65 1 Like |
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