Benqozenero:

You are very correct Boss. Also remember that initially the reward is for 1st place alone.
Who doesn't want extra stew this Christmas, So as human it's normal to gun for the price and drop in discipline.
It's just normal human behaviour. Believe me, if it wasn't latter factored for 2nd and 3rd to get something, there would be no winner. Hehehehe.

You got it right.
My personal rules of trading are:
1. I backtest my strategy to about 5years backward, see where it fails and how many times it fails
2. I demo trade for a few months to see how practicable it is
3. I find a broker that offers very low leverage (about 1:50 or 1:100 max), my current broker offers me 1:50; anyways, no broker here will offer more than that based on the very strict and heavy regulations on them by the govt.
4. I don't trade less $1000 capital, trust me.
5. For the right lot size, I divide my capital by 100,000 to get my individual trade lot size and basket about 15pairs max. If I don't want to basket trade, I enter only one pair with a max lot of (capital/100,000)*15 or (capital/100,000)*20

And some more I cannot remember now.

Karleb:
@the contest

When they say 99 percent lose in forex, now I see why.

This goes to show a lot of traders are not disciplined.

I'm sure things might have been worse if it was live trading.

Even if you need to lose, lose responsibly.

Your exact answer is bold on the contest description. But I will answer you: $15 is required for each trading period.

Think about it this way: a client (just like the one that made it to the front page a few weeks ago) gave you $100 to receive $30 every month (30%), this means that you have to provide him with $30 every month (regardless of your loss or gain) as that is what is promised.

Above all, I see you are doing well in the contest, keep it up

ProsperoTrading:


Need some clarification bro,

in the second bi-week, will the target be just $15 again or 15% of the first bi-weekly ending balance?

Seunisco:
please how do I join the contest?

Benqozenero:


could be a false break.

Pipsbasketings:

15% bi-weekly equals 30% monthly.
Prior to the contest, the Majority here has mentioned that consistent 30% monthly income is very very possible (every month ooo) which was what gave birth to the contest.

Let's see how many would make it to the 2nd trading period which starts on Monday.

The keys to winning this contest, as I have figured out, are (1) Sound trading skills (2) Proper Risk/Money Management

Reading this again, and making me laf out, u no go kii person oo Benqo

Benqozenero:

You are very correct Boss. Also remember that initially the reward is for 1st place alone.
Who doesn't want extra stew this Christmas, So as human it's normal to gun for the price and drop in discipline.
It's just normal human behaviour. Believe me, if it wasn't latter factored for 2nd and 3rd to get something, there would be no winner. Hehehehe.

I understand

But the goal of this project is to encourage and not discourage; the reason why only the monikers of the winners will be displayed

But wait, the catch is: You are actually one of them, so flog yourself now

kkins25:

mention their monikers for me abeg let me:
www.nairaland.com/attachments/12424039_1ciag4_jpeg951426488c8af845b1494298a834d5e2

Pipsbasketings:
I understand

But the goal of this project is to encourage and not discourage; the reason why only the monikers of the winners will be displayed

But wait, the catch is: You are actually one of them,

djwalata:
GBPUSD took out my SL( perhaps it's too small),
I'm selling again. There'll b a great chance if daily closes inside d trendline

Pipsbasketings:
I would not think of shorting until another day or two. A close below 1.32255 could be a validation

Pipsbasketings:
I would not think of shorting until another day or two. A close below 1.32255 could be a validation

Wishing you success bro, you know say u be intraday trader , for me, I have to wait for price below that price, then I enter short for about 5-7days

meshpips:

I sold already. Price was over extended for the day
I entered short at 1.32928

Pipsbasketings:
I would not think of shorting until another day or two. A close below 1.32255 could be a validation

, no myn am

hidhrhis:

bro leave dat GU
it has being faking me and taking my stops since yesterday

I almost missed this: - yes you are very correct with the bolded.

First, notice how I select my words: "could", "would" "might" "may" - this means, the prices we mention may not hold.

Anyways, I don't deduce the price by a line but a rectangle (channel), and then choose the topmost or bottommost length as the case may be, I think that answers your question.

kkins25:
A very important question, How do you guys determine the best price for price to stay above or stay below? resistance zones are not exact prices, so how do you come up with the exact figure?

I see am , na you smart pass

IMAliyu:
I don hit minimum target.
I'm closing up shop until next week.

Pipsbasketings:
I see am , na you smart pass

peteregwu:
Finally, my gbpnzd is paying off. Holding since 2weeks now. My tp is 8300

Pipsbasketings:
Contest semi-update - 3days to end of 1st trading period: Red everywhere
only 3 contesters might make it to the 2nd trading period.
Final 1st trading period results to be released on Friday (with monikers blurred)