saxy4c:
Chei brother, I think if only you'd done away with the first line, we'd have not gone through all the banter that followed your comment. You actually do have a point, so does He.
From my little experience in trading systems, psychology and equity level - it is much much easier to take 1k to 10k, than to take 100 to 1k. Even with same trades and percentage risks. But the point you're trying to prove is very valid, whereby it's possible to take your 100usd to any amount but that's under much greater pressure.
I think he was just trying to recommend the ideal scenario, but in Nija that is very farfetched because the average investor hasn't even seen 1k to invest. What am I even saying, 100usd is a big deal for a lot of people. I'd recommend we stick with what is attainable and feasible in the eyes of the average nigerian trader or prospective investor.
Furthermore if you notice I emphasize a lot on simplicity of strategy and psychology. Trust me if one can get a grasp of both factors, there is no telling how far you can go in this trading journey.
Let us try to be cordial and positive in our dealings with one another, I doubt if anyone is here just to bring the others down, maybe just a few with the typical negativity and low self esteem that comes with a pitiable few which I've learnt to ignore, but most of us are here to make money or help others see the way, let's focus on that and smile to the banks together in the coming year.

His first Statement didn't disturb me cos I know you don't argue with experience. I know many here understand what I am saying and they already have other sources of income. For those still bragging they are full-time traders with a $1,000 account, it is just a function of time, they will understand this point and join up. By the time they can't marry at 40, or can't pay rent at 35 or can't own a house from the proceeds of Fx at 50, they will understand this point. Some of them are still in their 20's under their Parent' care so they don't understand. Years later when their parents will seize their laptop and order them to go find work, they will understand (i have seen this happen to a trader). Some are already feeling this heat hence they resort to deceiving newbies into paying for classes and indicators they themselves can't make money from. Study successful traders from other continents and you will see over 90% of them have other sources of income. The other 10% are living off from the profits they make from the big accounts they trade. One condition for me to teach you Fx is that you must have other sources of income. If you don't have then that is the first thing we are setting up as you are learning the trade. Gone are the days when I trade from 6am to 6pm, i hardly spend one hour each day trading, the rest of the day should be put into some other profitable pursuits.

JerryQ:



His first Statement didn't disturb me cos I know you don't argue with experience. I know many here understand what I am saying and they already have other sources of income. For those still bragging they are full-time traders with a $1,000 account, it is just a function of time, they will understand this point and join up. By the time they can't marry at 40, or can't pay rent at 35 or can't own a house from the proceeds of Fx at 50, they will understand this point. Some of them are still in their 20's under their Parent' care so they don't understand. Years later when their parents will seize their laptop and order them to go find work, they will understand (i have seen this happen to a trader). Some are already feeling this heat hence they resort to deceiving newbies into paying for classes and indicators they themselves can't make money from. Study successful traders from other continents and you will see over 90% of them have other sources of income. The other 10% are living off from the profits they make from the big accounts they trade. One condition for me to teach you Fx is that you must have other sources of income. If you don't have then that is the first thing we are setting up as you are learning the trade. Gone are the days when I trade from 6am to 6pm, i hardly spend one hour each day trading, the rest of the day should be put into some other profitable pursuits.

The highlighted, you nailed it, bravo

GBPAUD

Is GBPAUD setting up for a massive decline?

Our best bet if it it bounces off this trendline now.. And hits any of the green line.. Then breaks the trendline..

Gives a better RRR.

Good trade if that happens.

We keep watching.

PipMarshall:
GBPAUD

Is GBPAUD setting up for a massive decline?

Our best bet if it it bounces off this trendline now.. And hits any of the green line.. Then breaks the trendline..

Gives a better RRR.

Good trade if that happens.

We keep watching.

1st target is the monthly trendline.
If that succumbs.. We head more down.

JerryQ:



His first Statement didn't disturb me cos I know you don't argue with experience. I know many here understand what I am saying and they already have other sources of income. For those still bragging they are full-time traders with a $1,000 account, it is just a function of time, they will understand this point and join up. By the time they can't marry at 40, or can't pay rent at 35 or can't own a house from the proceeds of Fx at 50, they will understand this point. Some of them are still in their 20's under their Parent' care so they don't understand. Years later when their parents will seize their laptop and order them to go find work, they will understand (i have seen this happen to a trader). Some are already feeling this heat hence they resort to deceiving newbies into paying for classes and indicators they themselves can't make money from. Study successful traders from other continents and you will see over 90% of them have other sources of income. The other 10% are living off from the profits they make from the big accounts they trade. One condition for me to teach you Fx is that you must have other sources of income. If you don't have then that is the first thing we are setting up as you are learning the trade. Gone are the days when I trade from 6am to 6pm, i hardly spend one hour each day trading, the rest of the day should be put into some other profitable pursuits.

You are very very wise sir. Everything u said is a true reflection of a serious trader. I hope many new traders that want to turn 100 dollars to 10k in 2 months will notice this. The game has totally changed. Market is getting unpredictable like many years back that u can predict trend direction in just single movements. Now jackals, wolves,lions crocodiles and snakes have crippled in. Learn the basics of market profit first, be patient and let everything fall in place before u hit the buy/sell buttons. And above all take it as a by source of income. If you are lucky to win often, withdraw and diversify your money unless , sooner than expected you will loose all and start over again. By the time u realize your time and life has been played by the gods of the markets, your mates would have had children in high schools while u are still in and out of profits without tangible results and later frustration will set in.
Believe in this guy's preaching and messages, the real truth is written all over it. He is talking from real life experiences as a trader which am a witness to.
Wonderful trading months ahead for all.

Guy’s Honestly JerryQ made the point.

Here are things new traders should know. Forex is not a GET RICH QUICK SCHEME.

It’s like a business where you make profits after subtracting your wins and loss.

It much easier to live on 10% of $100k account than to live in $100. Also I see people carry $100 to $1k in months, then in 3months the business crash(account blow)

Let me share and example:
Someone came to tell me forex is a scam, i should he careful. I said I fully understand, that I’ve been in his shoes before. Then I asked why did he say so?

He said someone came to his office, pitched to them that he would give 75% each month then they share the profits...I laughed. Then he said the first month was fine, the guy brought the returns and pitched to them that they should re-invest. Then the trader lost it all to the market.

Honestly, I was like Bro you were greedy. And these are the emotions that moves this market...Fear Greed and Hope... So what’s my point, in reality what ever we acquire so fast, we tend to lose it.

How do you trade like a business:

1) Learn the skill: When I started here, Infofirst would say, if you cannot make money on demo you can’t on live. Since I don’t like demo because it doesn’t involve human emotions(Trading) I’ll like to rephrase this quote, If you cannot make money on your Cent account, you won’t make money on your standard account.

To new traders and are ready to go all in, dont demo trade, start a cent account and lose money. It won’t cost you much.
Also if you are making roughly 300k from your outside business, you have no business trading live because it won’t look good.

2) Letting winner’s run and cutting losers short: This advice is to all traders. I see most people make profits from the market and say its markets money. Honestly if you make profits from the market, ITS YOUR HARD EARNED MONEY. So how do people make 75% and lose it back in few month? They don’t cut their losses fast and also they don’t let their winners run. This is what we call discipline. Honestly I learnt this blowing money.

3) You don’t need to trade everyday to make money: My mentors like jesse livermore who wrote How to trade the stock market( I don’t trade the stock market, but the same psychology applies in all markets) he said money is made by doing NOTHING.

4) Never take signals form any trader online. Honestly this was a mistake I made in my early days, so here’s how I refined it, I looked at professionals on IG then When they say buy, I’d go to the charts and start looking for why the person is buying. In trading as a business, you are the captian of ship(trading account) If your ship crash, its definitely your fault. Never let your ship Blow .


So guys this are thoughts that I felt like sharing, and I hope it will improve new traders in 2020. I started trading in January 3rd 2019. I lost all my savings, lost borrowed money from my dad but there is one thing I didn’t do. I didn’t Quit.

I’ve not break even with my loss to the market at the moment, but I can tell you, July 2019 was the last time I crashed my ship(account).

So when you take losses, don’t react. Just take responsibility and look for the mistakes then learn from them. Honestly we get better when we learn from our failure.

I wish everyone the best in 2020 trading year


Ps: this was typed from a phone, please ignore any typo or grammatical errors

bojbest:
Guy’s Honestly JerryQ made the point.

Here are things new traders should know. Forex is not a GET RICH QUICK SCHEME.

It’s like a business where you make profits after subtracting your wins and loss.

It much easier to live on 10% of $100k account than to live in $100. Also I see people carry $100 to $1k in months, then in 3months the business crash(account blow)

Let me share and example:
Someone came to tell me forex is a scam, i should he careful. I said I fully understand, that I’ve been in his shoes before. Then I asked why did he say so?

He said someone came to his office, pitched to them that he would give 75% each month then they share the profits...I laughed. Then he said the first month was fine, the guy brought the returns and pitched to them that they should re-invest. Then the trader lost it all to the market.

Honestly, I was like Bro you were greedy. And these are the emotions that moves this market...Fear Greed and Hope... So what’s my point, in reality what ever we acquire so fast, we tend to lose it.

How do you trade like a business:

1) Learn the skill: When I started here, Infofirst would say, if you cannot make money on demo you can’t on live. Since I don’t like demo because it doesn’t involve human emotions(Trading) I’ll like to rephrase this quote, If you cannot make money on your Cent account, you won’t make money on your standard account.

To new traders and are ready to go all in, dont demo trade, start a cent account and lose money. It won’t cost you much.
Also if you are making roughly 300k from your outside business, you have no business trading live because it won’t look good.

2) Letting winner’s run and cutting losers short: This advice is to all traders. I see most people make profits from the market and say its markets money. Honestly if you make profits from the market, ITS YOUR HARD EARNED MONEY. So how do people make 75% and lose it back in few month? They don’t cut their losses fast and also they don’t let their winners run. This is what we call discipline. Honestly I learnt this blowing money.

3) You don’t need to trade everyday to make money: My mentors like jesse livermore who wrote How to trade the stock market( I don’t trade the stock market, but the same psychology applies in all markets) he said money is made by doing NOTHING.

4) Never take signals form any trader online. Honestly this was a mistake I made in my early days, so here’s how I refined it, I looked at professionals on IG then When they say buy, I’d go to the charts and start looking for why the person is buying. In trading as a business, you are the captian of ship(trading account) If your ship crash, its definitely your fault. Never let your ship Blow .


So guys this are thoughts that I felt like sharing, and I hope it will improve new traders in 2020. I started trading in January 3rd 2019. I lost all my savings, lost borrowed money from my dad but there is one thing I didn’t do. I didn’t Quit.

I’ve not break even with my loss to the market at the moment, but I can tell you, July 2019 was the last time I crashed my ship(account).

So when you take losses, don’t react. Just take responsibility and look for the mistakes then learn from them. Honestly we get better when we learn from our failure.

I wish everyone the best in 2020 trading year


Ps: this was typed from a phone, please ignore any typo or grammatical errors

This touched me, Bro. I see traders sell their properties to fund their account, sell their cars to fund their account, stop their work to focus on trade and I just pity them. I know at least two persons that went to jail because of Fx, one is still in there as I write. The other one came out and started another biz outside Fx, He is very okay now financially. A friend of mine is indebted to N6Billion cos of Fx, another is indebted to N1Billion, some can't go back to their towns because of monies they have collected from people. Some can't marry because of the problem they are in. I know people who completely left Fx and focused on something else and they are very okay financially after about 5years, one just dedicated his house. So, let us stop painting the picture like Fx trade is the best thing in the world, like outside Fx you can't live your life to the full. This is business and not a bet or Yahoo, Yahoo.

The reason I still trade Fx is because of the long term compound interest it allows me enjoy otherwise why should I apply my energy to something that just gives me 5% profit monthly when i can sell bags of locally made rice and make over 20% profit. Go see youtube channels making $50k weekly from just posting a 20Mins video daily and you will think well. Then you will know that the 6hours you give to Fx daily is shortchanging your destiny, if only you follow those tips i shared and don't allow Fx steal your youthful energy. Yes trade Fx but don't allow it trade away your glorious future.

bojbest:


He said someone came to his office, pitched to them that he would give 75% each month then they share the profits...I laughed. Then he said the first month was fine, the guy brought the returns and pitched to them that they should re-invest. Then the trader lost it all to the market.

Past performance is never completely indicative of future performance.

bojbest:


1) Learn the skill: When I started here, Infofirst would say, if you cannot make money on demo you can’t on live. Since I don’t like demo because it doesn’t involve human emotions(Trading) I’ll like to rephrase this quote, If you cannot make money on your Cent account, you won’t make money on your standard account.

He that is faithful with little is faithful with much

bojbest:


Letting winner’s run and cutting losers short

@capitals is uniquely gifted in this

bojbest:



You don’t need to trade everyday to make money: My mentors like jesse livermore who wrote How to trade the stock market( I don’t trade the stock market, but the same psychology applies in all markets) he said money is made by doing NOTHING.

After entering the trade, WAITING (allowing the trade to walk into profit and running until completion is all that is required).

bojbest:


4) Never take signals form any trader online. Honestly this was a mistake I made in my early days, so here’s how I refined it, I looked at professionals on IG then When they say buy, I’d go to the charts and start looking for why the person is buying.

PROFESSIONALS on Instagram? Hmmmnnn

Finding out the REASON for the trade gives you the privilege of taking advantage of that setup in future. What many seek is "instant gratification" - give me signal and let me enjoy the profit. Someday soon, the signal giver might get busy with other things and could be constrained from continuing with the service. Then will you find out that you have wasted your time using the signals instead of LEARNING the REASONS for taking the trade.

saxy4c:
Closed all sells in 190pips loss from our initial 500pips buys in gold. Should have stuck to my initial gold plan going up to 1500 since last week. Anyways we lose some and strive to win more. It would be a good year ahead by God's grace. Happy holidays people.

Are you still in this gold buy?

djwalata:

I love trading gold especially when u know d entry point.
From 1485.... 1499 still running

Gold is giving me so much joy on my demo,Damn!

The sweetest part is that I made the call myself, over 1k+ up

JerryQ:



His case is a unique case in FX. Very few traders can multiply account X20 in few months. I have only been that fast once or twice, I have done 3k to 90k in one month but I can't tell you that is how successful traders trade. I can however tell you that if you can make 5% growth monthly in this market, you are doing very well forget about what you see others getting. Very soon, 5% profit will amount to $100k.

Well, I think that guy is just different. He is just a long time trade. He trade for a week that is his style of trading. He doesn't trade daily like most of us do. His own ia that he places a trade on Monday and cash out on Thursday or Friday, if it is late, it wouldn't exceed 9days. He is just good at his own way.

priceaction:


You are very very wise sir. Everything u said is a true reflection of a serious trader. I hope many new traders that want to turn 100 dollars to 10k in 2 months will notice this. The game has totally changed. Market is getting unpredictable like many years back that u can predict trend direction in just single movements. Now jackals, wolves,lions crocodiles and snakes have crippled in. Learn the basics of market profit first, be patient and let everything fall in place before u hit the buy/sell buttons. And above all take it as a by source of income. If you are lucky to win often, withdraw and diversify your money unless , sooner than expected you will loose all and start over again. By the time u realize your time and life has been played by the gods of the markets, your mates would have had children in high schools while u are still in and out of profits without tangible results and later frustration will set in.
Believe in this guy's preaching and messages, the real truth is written all over it. He is talking from real life experiences as a trader which am a witness to.
Wonderful trading months ahead for all.

Stop. mentioning my moniker

I posted that gold was going to hit 1501 tp and it does.

Here is the gold below. Its demo and not live account.

I am buying gbpusd and it would hit 1.34690. Long time trading here I come.

peteregwu:
I am buying gbpusd and it would hit 1.34690. Long time trading here I come.

This GU that is already forming wave 2 to retrace 1955. You no dey read chart? Weekly chart.

peteregwu:
I am buying gbpusd and it would hit 1.34690. Long time trading here I come.

U might b right and wrong at d same time.
Yes, d price is at resistance/support as d case may b.
My advice on this pair, d price has broken d support 0.2990,
still trading below it.( so y buying when it hasn't broken it upward)?
MY ADVICE OOOOO( NOT A MUST) don't just buy or sell when d price reaches support/resistance,
Wait and watch price action at that level( candle formation).
Ve u considered it can also reach 1.2770?

Karleb:


What you need know is called Money Management.

You can google "FX money management" to know what I am talking about.

......Or you could just stop risking more than 3 percent of your capital per trade and lessen the number of trade you take per day and also lesson the number of pair you trade.[b][/b]


It might not make you win green pips but I'm confident it will make you stop blowing your account, demo or real.

I do trade up to 5 pairs at a time, i think i'm gonna lessen that and study more... Thanks for replying, i appreciate. Would ask more questions as time progresses...

@ PETEREGWU, you are extremely overtrading, how could U be trading with less than 45 pips ba kip. In other words, if market goes against you by 45 pips, your account is gone. You are not a trader, but a gambler.

peteregwu:
I am buying gbpusd and it would hit 1.34690. Long time trading here I come.

We have same bias on USDSGD, I think it will sell well, but it is a slow moving pair, you might have to hold for days/weeks to see good pips.

Fmusty:


We have same bias on USDSGD, I think it will sell well, but it is a slow moving pair, you might have to hold for days/weeks to see good pips.

Yes I started selling since last week Thursday and the idiot just stood there since last statue.

walexy100:
@ PETEREGWU, you are extremely overtrading, how could U be trading with less than 45 pips ba kip. In other words, if market goes against you by 45 pips, your account is gone. You are not a trader, but a gambler.

Sorry bro, am aware of that and the gbpusd has already started going against. It has changed algorithm and will sell down to 1.28100. But am selling already. It won't blow bro.

djwalata:

U might b right and wrong at d same time.
Yes, d price is at resistance/support as d case may b.
My advice on this pair, d price has broken d support 0.2990,
still trading below it.( so y buying when it hasn't broken it upward)?
MY ADVICE OOOOO( NOT A MUST) don't just buy or sell when d price reaches support/resistance,
Wait and watch price action at that level( candle formation).
Ve u considered it can also reach 1.2770?

Am selling at the same time. I believe it would run down through out today.

Before I used to be afraid of trading on my live account but now I have dealt with it. I realise that if you don't learn trading on live account, you will still be struggling. Demo trading Don tire me.

You shouldn't have made me look at gold again . I'm banking on it not getting to the next 1515 point so I'm selling here.

Gold selling now 1505
SL 1510
TP 1490

sconp:


Are you still in this gold buy?



Gold is giving me so much joy on my demo,Damn!

The sweetest part is that I made the call myself, over 1k+ up

SELL GBPJPY 142.10 TP: 140.00 SL: 142.50
SELL GBPUSD 1.2970 TP: 1.3010 SL: 1.2800

saxy4c:
You shouldn't have made me look at gold again . I'm banking on it not getting to the next 1515 point so I'm selling here.

Gold selling now 1505
SL 1510
TP 1490

I just some how believe that gold will keep buying though out this week.

jackals:


Stop. mentioning my moniker

Buy limit eurnzd 1.6600 Sl 1.6500 Tp 1.68000

Quite impressive. I see progress in your counts. But if we all see the charts the same way price would remain stagnant. There must always be bulls and bears in the market for price to move.

walexy100:


This GU that is already forming wave 2 to retrace 1955. You no dey read chart? Weekly chart.

saxy4c:
You shouldn't have made me look at gold again . I'm banking on it not getting to the next 1515 point so I'm selling here.

Gold selling now 1505
SL 1510
TP 1490

Well, I might sell though my buy is still on.
I will consider sell even if it doesn't get to 1513/15 so far today's close gives me a bearish signal.
No bearish signal today...... NO SELL FOR ME FOR NOW

saxy4c:
Quite impressive. I see progress in your counts. But if we all see the charts the same way price would remain stagnant. There must always be bulls and bears in the market for price to move.

Abi na. Na true you talk jare.

Today's close on usdjpy might give us a clue about its next clear movement