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Forex Trade Alerts: Season 19 - Business (165) - Nairaland

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Re: Forex Trade Alerts: Season 19 by iko123: 8:34pm On Aug 26, 2019
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Re: Forex Trade Alerts: Season 19 by pinbar(m): 8:36pm On Aug 26, 2019
Sell AUDUSD

Re: Forex Trade Alerts: Season 19 by obumnaeke(m): 10:40pm On Aug 26, 2019
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
Re: Forex Trade Alerts: Season 19 by obumnaeke(m): 10:41pm On Aug 26, 2019
embarassed embarassed
maryjames9:


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

embarassed[quote author=maryjames9 post=81628256]
Re: Forex Trade Alerts: Season 19 by BinaryRocks: 12:02am On Aug 27, 2019
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 embarassed

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... grin grin grin
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Re: Forex Trade Alerts: Season 19 by pinbar(m): 4:58am On Aug 27, 2019
pinbar:
Sell AUDUSD

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

Re: Forex Trade Alerts: Season 19 by pinbar(m): 5:09am On Aug 27, 2019
Sell CADJPY

Re: Forex Trade Alerts: Season 19 by pinbar(m): 5:15am On Aug 27, 2019
This one is dicey, but lets see...

Buy GBPNZD

Re: Forex Trade Alerts: Season 19 by pinbar(m): 5:27am On Aug 27, 2019
A bit aggressive but lets see... hope i dont get punished

Buy GU

Re: Forex Trade Alerts: Season 19 by pinbar(m): 6:11am On Aug 27, 2019
Buy EA

Re: Forex Trade Alerts: Season 19 by ejosh4(m): 6:35am On Aug 27, 2019
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
Re: Forex Trade Alerts: Season 19 by pinbar(m): 7:05am On Aug 27, 2019
Sold Oil . i jump out at the breach of that resistance

cc: currentprice

Re: Forex Trade Alerts: Season 19 by pinbar(m): 7:13am On Aug 27, 2019
Please for any one following, kindly manage your trades. Once you are up 25-30pips , break even and manage. I may not update.

1 Like

Re: Forex Trade Alerts: Season 19 by redsox11: 8:33am On Aug 27, 2019
Pins

Re: Forex Trade Alerts: Season 19 by redsox11: 8:34am On Aug 27, 2019
Pins ... Cont.

Re: Forex Trade Alerts: Season 19 by Shevychen2: 9:36am On Aug 27, 2019
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.

7 Likes

Re: Forex Trade Alerts: Season 19 by MJFlourish: 10:42am On Aug 27, 2019
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Re: Forex Trade Alerts: Season 19 by currentprice: 11:19am On Aug 27, 2019
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

grin grin grin

1 Like

Re: Forex Trade Alerts: Season 19 by currentprice: 2:10pm On Aug 27, 2019
watching action around this levels for quick BUY

grin grin grin

Re: Forex Trade Alerts: Season 19 by currentprice: 2:46pm On Aug 27, 2019
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

grin grin grin grin

Re: Forex Trade Alerts: Season 19 by currentprice: 2:57pm On Aug 27, 2019
Hmmm price moving up again. she trying harder to deceive her master. we go see na grin

bias change to BUY.

i am watching to BUY again.

grin grin grin

1 Like

Re: Forex Trade Alerts: Season 19 by currentprice: 3:09pm On Aug 27, 2019
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

grin grin grin

2 Likes

Re: Forex Trade Alerts: Season 19 by currentprice: 3:29pm On Aug 27, 2019
if nothing happen in few minute either rise or fall before 4pm

both side have equal chance

grin grin grin

1 Like

Re: Forex Trade Alerts: Season 19 by currentprice: 3:36pm On Aug 27, 2019
currentprice:
if nothing happen in few minute either rise or fall before 4pm

both side have equal chance

grin grin grin

all trades closed

back to my side line

grin grin

Re: Forex Trade Alerts: Season 19 by pinbar(m): 5:18pm On Aug 27, 2019
pinbar:
This one is dicey, but lets see...

Buy GBPNZD

+95pips take profit
Re: Forex Trade Alerts: Season 19 by pinbar(m): 5:19pm On Aug 27, 2019
pinbar:
A bit aggressive but lets see... hope i dont get punished

Buy GU

+65pips take profit

1 Like

Re: Forex Trade Alerts: Season 19 by pinbar(m): 5:20pm On Aug 27, 2019
pinbar:
Buy EA

still warming up

1 Like

Re: Forex Trade Alerts: Season 19 by pinbar(m): 5:22pm On Aug 27, 2019
pinbar:
Sold Oil . i jump out at the breach of that resistance

cc: currentprice

still patient with my trade

1 Like

Re: Forex Trade Alerts: Season 19 by pinbar(m): 5:23pm On Aug 27, 2019
pinbar:
Sell CADJPY

still in progress

Re: Forex Trade Alerts: Season 19 by pinbar(m): 5:25pm On Aug 27, 2019
pinbar:
Sell AUDUSD

closed this trade with +15pips.

1 Like

Re: Forex Trade Alerts: Season 19 by pinbar(m): 5:27pm On Aug 27, 2019
pinbar:
Sell ACAD

closed with +24pips

1 Like

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