.

Sell AUDUSD

ejosh4:

People who trade with SL, Traders like u dey tink say dem b fool

My oga, no be so.

I always use stop loss, even in that trade. But market jumps does not regard stop losses and take profits.

well, I realized the hard way sha

maryjames9:


But your broker no do well at all o. A good broker will close your trades before it hit deficit na.

[quote author=maryjames9 post=81628256]

obumnaeke:
Good morning everyone.

I just woke up this morning to a sad news,
I couldn't close some of my trades last Friday before the market closed.

I woke up this morning to discover that the jump created by the news over the weekend wiped my account, leaving me in deficit with my broker

Can anyone help me out with a little money to start up again, I'd be forever grateful.

sorry I had to bring this up here.

Happy trading week famz.

Sorry Bro

But you can get another up to $300 within 2days to recover your loss or continue your Forex journey...
GCU IS GIVING OUT 300$ FOR FREE! YES YOU HEARD ME RIGHT. ALL YOU HAVE TO DO IS SIGNUP AND BRING JUST 8 PERSONS WITHIN 47HRS AND BOOM YOUR 300$ RICHER.

REMEMBER YOU HAVE 47HRS TO COMPLETE YOUR REFFERRALS. THIS OFFER CLOSES IN 2WEEKS TIME SO HURRY UP NOW!

NB: YOUR 300$ WILL BE PAID TO YOUR ETHER WALLET WHICH YOU CAN EXCHANGE TO NAIRA EQUIVALENT OF 100K. I WILL GUILD YOU IF YOU DON'T KNOW HOW TO GO ABOUT THAT.

NB: NO SPAM OR BOT EMAILS.. YOUR 8 REFFERRAL MUST BE UNIQUE.. SO DONT COMMA USE ALL THE EMAILS YOU HAVE OPENED IN THIS LIFE TO SIGNUP BIKO.

TO GET STARTED JUST CLICK SIGNATURE UNDER THIS POST FOR ACCESS LINK
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pinbar:
Sell AUDUSD

Congrats if you took the trade. Manage your trade, i may not update again.

Sell CADJPY

This one is dicey, but lets see...

Buy GBPNZD

A bit aggressive but lets see... hope i dont get punished

Buy GU

Buy EA

obumnaeke:


My oga, no be so.

I always use stop loss, even in that trade. But market jumps does not regard stop losses and take profits.

well, I realized the hard way sha

Sorry boss take heart

Sold Oil . i jump out at the breach of that resistance

cc: currentprice

Please for any one following, kindly manage your trades. Once you are up 25-30pips , break even and manage. I may not update.

Pins

Pins ... Cont.

obumnaeke:


My oga, no be so.

I always use stop loss, even in that trade. But market jumps does not regard stop losses and take profits.

well, I realized the hard way sha

Stop losses are meaningless if you are over exposed already. For example, the gaps happened on Yen pairs. Most of them gapped 45-55 pips and moved lower by another 50-60 pips each before reversal. Assuming you were trading all 7 major yen pairs at once (very poor trading decision), that's around 650pips-800pips of movement. A trader with a $200 account that is trading 0.01 on the 7 pairs plus others (serious overleverage) without stoploss would have seen the account go down to max $120 before recovery which isn't enough for a margin call on most brokers.

If it was a $500 and still 0.01 across the 7 pairs and maybe others (mild overleveraging), it would have gone down max to $420. If the trades were opened with a stop loss, the broker would have closed the trades at market open, assuming the stop loss was already breached by the gap. So the potential loss on both accounts above would be less than 50% of the losses we mentioned earlier.

So the issue wasn't the stop loss or no stop loss. It was the number of open trades and the size of the trades in relation to your account balance.

If the total sum of the potential loss you will make on open trades if they all go against you is more than 10% of your account, you are a high risk trader who shouldn't cry when the market bites hard.

Consider the fact that many professionals treat stop losses in relation to market movement. So, they only lose 1% of their capital when that pair has moved 1%, which is 100pips. This means that before they lose 10% of their balance, all positions must have gone against them by 1000pips. It will take far bigger gaps to cause that kind of loss for them assuming proper pairs diversification. It doesn't make sense to have more than 2-3 JPY pairs open at once, especially in this trade war environment.

So, slapping arbitrary red lines as stop loss won't save you if the maths doesn't add up. Nothing wrong with high risk, betnaija style trading. Just don't cry when the inevitable happens. Especially as an inexperienced trader.

BTC, PM, SKRILL & PAYPAL are available
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pinbar:
Sold Oil . i jump out at the breach of that resistance

cc: currentprice

i want to remain on the sideline till the chart speak the language i understand.

but watch your back on the SELL side price could move to 56.50 area

watching action around this levels for quick BUY

cancel all my buy plan as d candle is moving pass the levels

a retrace back to the levels could be SELL, move back above cold be BUY again patience is d key

Fingers crossed

Hmmm price moving up again. she trying harder to deceive her master. we go see na

bias change to BUY.

i am watching to BUY again.

oyel bought but plan to jump out of the train with minor injury should the price continue moving down.

things look like it will move up pass the level sha

finger crossed

if nothing happen in few minute either rise or fall before 4pm

both side have equal chance

currentprice:
if nothing happen in few minute either rise or fall before 4pm

both side have equal chance

all trades closed

back to my side line

pinbar:
This one is dicey, but lets see...

Buy GBPNZD

+95pips take profit

pinbar:
A bit aggressive but lets see... hope i dont get punished

Buy GU

+65pips take profit

pinbar:
Buy EA

still warming up

pinbar:
Sold Oil . i jump out at the breach of that resistance

cc: currentprice

still patient with my trade

pinbar:
Sell CADJPY

still in progress

pinbar:
Sell AUDUSD

closed this trade with +15pips.

pinbar:
Sell ACAD

closed with +24pips