bojbest:


Bro, go research on risk to reward. Your trades are ratio 1:1. Risking 10pips for 10pips. Nxt time you should aim higher.

Risk to Reward system is gambling. It can pay off, no doubt, but it basically says if I can get it right a few times I will cover my loses and even make profit.

Add martingale to that and you are finished.

alphaNomega:


I'm sure he would have lost the same amount he gained. One reason for 1:1 RRR is the situation when market does not hit your TP but reverses, sometimes taking your SL with it.

Getting profitable trades is more important than any RR strategy, even if you get 2 pips in profit.

If you say so oh!

Luthercboi:


Yeah..this is what have been waiting to hear “Risk management” that the key word

I’m in IML(imarketlive) family
You can google about them

And I’m ready to put you guys through
Message me via WhatsApp @07015421422

With your MlM. Lol. U go Dey chairman 20 or 50. Leader

mrikay:


Risk to Reward system is gambling. It can pay off, no doubt, but it basically says if I can get it right a few times I will cover my loses and even make profit.

Add martingale to that and you are finished.

How do you gamble when your understand your charts? Risk to reward is the best because forex is a game of probability. You can’t be sure of the future.

enolife2:

I love this Idea and am keying into it too. please which broker do you think will be best for this

I did something like that with xm back in the day.

grew tge account to 200 + dollars.... when I requested a 10 dollar withdrawal dem no gree... They gave me one story after another till I blew the account.

Gold is falling and hopefully expected to fall till 1402.00

bojbest:


Bro, go research on risk to reward. Your trades are ratio 1:1. Risking 10pips for 10pips. Nxt time you should aim higher.

Gold is always in (1234.56) format and from 1234.56 to 1234.57 gives you a pip which if traded with 0.01 lot size gives a cent.

When a market moves from 1234.00 to 1236.00 , you have made 200 pips. This is gold for you. And the highest you can make at such movement is not upto $2 when the broker like instaforex takes 60 pips as spread for entering the market.

So, talking of risk management, I don't think am a newbie in that regards especially to gold trading. Gold has been Strength when I have a SWOT analysis of my trades.

jamace:
Just HOLD the LONG. Expecting it to hit 1. 33000 this week.

With today's news release I don't see that happening might have to cut my loss ifbi breaks he current support

alphaNomega:


With today's news release I don't see that happening might have to cut my loss ifbi breaks he current support

Do as it pleases you, bro. I am holding my LONG based on my indicator.

jamace:
Do as it pleases you, bro. I am holding my LONG based on my indicator.

I'm already out, -49 pips

1.3057 level not broken yet, probably trying to form a double bottom before the rally. Sincerely speaking, the trend is down, tomorrow is US independence (Bank Holiday) so it will take Friday NFP to drive this pair up or down.

After this week I don't think I'll want to trade USDCAD anymore.

enolife2:

I love this Idea and am keying into it too. please which broker do you think will be best for this

I currently use FBS, i haven't exploited other brokers yet

USDCAD BUY @1.3068
SL 1.3040
TP1 1.3100

Sunnycliff:
USDCAD BUY @1.3068
SL 1.3040
TP1 1.3100

Good luck

coolvibes:

I got in that very night after that initial post, got stopped out too. Then did a 'set and forget' 2nd trade with a wide stop, RR of just 1 to 1 plus commission.

NZD looks like it will continue to strengthen. Still holding my positions.

mrikay:


we dey wait

I have not forgotten. Will talk about the strategy. Waiting to close my present trades. My trades take a while. Want to use them as examples.

voraz:


I had a very early entry too, since the beginning of June.... it's in profit now too

And looks like it will continue down. I am still holding for now

AUDCAD.
I may go long on breakout from the descending channel.
Entry criteria for me will be a break out of the channel, break above the moving average, and a break above horizontal resistance. All three must be present. Preferably with some form of retest and a reasonable bullish price action.

GBPCHF
Demand zone..
One of the more Risky trades. As this is a blind entry. That is, I don't have a 'confirmatory' price action set up yet.
Conservatively, one could wait for a break of the horizontal resistance and moving average. And then a retest to go long.
RRR is favourable though.

ikhalyfah:
I currently use FBS, i haven't exploited other brokers yet

ok thanks

ikhalyfah:

I currently use FBS, i haven't exploited other brokers yet

Exploited?

alphaNomega:


Good luck

Why do people not use stoploss? Do they think they own this market?
I’m still learning oh! But I believe managing risk is the only thing that will keep you alive in this game

bojbest:


Why do people not use stoploss? Do they think they own this market?
I’m still learning oh! But I believe managing risk is the only thing that will keep you alive in this game

even the stoploss is not guaranty that your money is safe

enolife2:

even the stoploss is not guaranty that your money is safe

Price will keep hitting it until there's nothing left. Been there.

bojbest:


Why do people not use stoploss? Do they think they own this market?
I’m still learning oh! But I believe managing risk is the only thing that will keep you alive in this game

In that trade I screenshoted, there's a stoploss but it wasn't captured by the phone screen.

I hardly trade without stoploss except when I want to take swing long positions

PJAMES1:


And looks like it will continue down. I am still holding for now

so am i, missed a sweet entry on it today.... we'll see how it pans out

And tommorow is NFP... 1:30pm.

infofirst:


Gold hit sl.
Sell Gold again @1434. 6 sl 1460. Tp 1360

Move SL to 1424.00

any NFP trading ideas for today?

mrikay:


Risk to Reward system is gambling. It can pay off, no doubt, but it basically says if I can get it right a few times I will cover my loses and even make profit.

Add martingale to that and you are finished.

You obviously do not know about risk-reward. I advise you read about it from Bill Lipschutz, one of the most successful FX traders of all time.

Please, I am trying to undertake a study on the trading habits of retail traders with accounts that are less than $500. I want to recruit some traders into the study. Your participation will be compensated with a token. Email dankrabb at gmail dot com for details.

infofirst:

Move SL to 1424.00

Boss boss, that is a whole lot of pips in there. Keep packing the pips bro

infofirst:

Move SL to 1424.00

Closed Gold sell @ 1400. Until next week to rejoin.