Shout to boss fxwarrior, when you said that the bulls had this week on the dollar, I doubted you, but looking at yesterday FOMC meeting and today's jobs report, this gave the dollar bulls a landslide victory this week and I can say certainly that NFP will be coming out higher tomorrow which should add to the dollar rally.

I am shorting gold now before I miss out on the party

LincolnOnyeabor:


This BTC trade sir, is it on Forex you're taking it??
It's a Swing Trade right??

What lot did you use sir??

I'm looking at trading it for this Competition I'm on. What do you think sir??

yes I trade BTC on forex and I only swing it, I don't day trade it. honestly I calculate my lotsize based on a risk percent of my account. To do that you need to know how to count pips or points on BTC

How I do it simply is that every $1 move on BTC, remember it's paired against the dollar (BTCUSD) I count it as 1 point move so from 43900 to 43901, that's 1 point move, 43900 to 44000, that's a 100 point move. Now based on my personal research that Bitcoin has a point value of $1, while the pip value is $0.01 because 43900.00 to 43900.01 is 1 pip move

I risk 0.3% of my account per trade, so for an account of 10000 that would be $30, so for a trade having a stoploss of maybe 200 points, my lot size would be risk amount ÷ (point value × stoploss)

I.e $30 ÷ ($1 × 200) = 0.15 lot
that's how I do it. sorry for the long post. I do it this way so that I risk the same risk amount across all account whether it be 5k, 10k or 100k, I don't like using fixed lot size because my stoploss varies across different paira and I want to make sure I am risking the same amount across all markets that I trade

LAxYMAN:
Saw some real magic shege from Exness today. Trade near Tp, position close with loss. I just weak.

You were likely taken out of the trade by spread. You had a 4 pip SL. And there was retracement immediately after you entered the trade. You wouldn't have been taken out if your broker had a better spread.You should consider your broker's spread when setting your SL for your trades, especially on the 1 min TF which you traded from.

greatcheer:
xau not for me, bye

Boss I think you should have had more faith in your strategy or analysis, because gold is selling as you had anticipated, the only thing that I would advise based on my little experience is never to trade gold with a tight stoploss, the result is traumatizingly traumatic

Danator:

You were likely taken out of the trade by spread. You had a 4 pip SL. And there was retracement immediately after you entered the trade. You wouldn't have been taken out if your broker had a better spread.You should consider your broker's spread when setting your SL for your trades, especially on the 1 min TF which you traded from.

Sire, are you by chance pipnator?

peteregwu:


On EURJPY, I got a breakeven after going about 60pips in profit. I am going in again.

On EURJPY, I am already banking 300pips in profit. Keep playing while I take all the money. 😎

last trade call for the day US30 sell SL 50 POINTS

peteregwu:


On EURJPY, I am already banking 300pips in profit. Keep playing while I take all the money. 😎

chairman ohun ti o nse ko da ooo, ahn ahn let the poor breath, pls don't suffocate us now, only you wan pack all d moni, abeg remain small for us ooo

Ballzproblem2:
gold no wan sell?

gold finally sell 90 pips up

Davigle:


yes I trade BTC on forex and I only swing it, I don't day trade it. honestly I calculate my lotsize based on a risk percent of my account. To do that you need to know how to count pips or points on BTC

How I do it simply is that every $1 move on BTC, remember it's paired against the dollar (BTCUSD) I count it as 1 point move so from 43900 to 43901, that's 1 point move, 43900 to 44000, that's a 100 point move. Now based on my personal research that Bitcoin has a point value of $1, while the pip value is $0.01 because 43900.00 to 43900.01 is 1 pip move

I risk 0.3% of my account per trade, so for an account of 10000 that would be $30, so for a trade having a stoploss of maybe 200 points, my lot size would be risk amount ÷ (point value × stoploss)

I.e $30 ÷ ($1 × 200) = 0.15 lot
that's how I do it. sorry for the long post. I do it this way so that I risk the same risk amount across all account whether it be 5k, 10k or 100k, I don't like using fixed lot size because my stoploss varies across different paira and I want to make sure I am risking the same amount across all markets that I trade

Alright sir.


Thanks for the Clarifications sir.

Last question sir, between BTC and Gold, which has a higher pip value??

It seems Gold but I'm not too certain. What do you think sir??

LincolnOnyeabor:

Alright sir.

Thanks for the Clarifications sir.
Last question sir, between BTC and Gold, which has a higher pip value??
It seems Gold but I'm not too certain. What do you think sir??

Gold definitely has a higher pipvalue

Davigle:
last trade call for the day US30 sell SL 50 POINTS

US30 oooooooooo, morafeckarrr 😠😡😠😡🤬

Geovanni412:


Try it boss

If you don't have a good journal app, download fx journal by pieter hurter

Journaling this way means you'll have 4 entries on journal if you are trading 2 pairs

Then before you take ya trade, read through both arguments...take trades you are confident above a certain threshold (60% or higher is ok for me)

Record ya emotion as the trade is running. If you hear a contrary opinion to your trade here on nairaland, record it

If you see some successful fx guru guy, that affects ya emotion too. Record how you're feeling after watching the Instagram video or YouTube about the guy's lifestyle...then tell yourself to calm down, wait some seconds, reassess the two options you journaled again

It will take time but at least, you'll know that you tried your best. Then over time, you can filter out what is not working in your system.

What I like about the app is you can see your performance each week and your strike rate (winning ratio), plus you can attach snapshots of the trades.

Merci, boss. Looking into it

Davigle:


Sire, are you by chance pipnator?

No. I am not him.

Boss,show me way na

peteregwu:


On EURJPY, I am already banking 300pips in profit. Keep playing while I take all the money. 😎

First trade of the year finally tacked in...

On GBPAUD, I am looking at it and taken a little position on it. we could see a huge drop of 1k pips below. It could also be a risky trade also.

Davigle:


BTC trades closed, I honestly am not comfortable with the trade

Funny enough price went on to hit my target of 44k but for some strange reason I wasn't feeling comfortable holding on to the trade, well I'm on the sidelines and would be watching patiently with the eyes of a crocodile.

Davigle:
USOIL SELL AT 73.50 STOPLOSS AT 74.50

This is a swing trade

USOIL is down 200 pips, yipeee. at least it wasn't stoploss all day. I sure do need some good news. I just hope this babe doesn't dump me for some dude 😍

The logo for this year is no gree for anybody ... I'm always afraid of us30 and xagusg b4... I no dey fear anything again.. The joy is not the profit but the patience to let it Hit

GabsonFX2:


Paid employment guarantees financial security - a constant source, a reservoir. FX would not pay every week but paid employment does, even when I'm ill - I would still get a constant biweekly pay of EI - Employment Insurance from the government; but, you have to be employed to qualify. Many more reasons why a career outside FX is top-notch.

While bills would never cease, fx biweekly profit would definitely cease at one point or the other; when this happens, what would you do in those weeks or months? frustrated? overleverage? overtrading? martingale? ignore SL? zero psychology? go into debt? depression? etc

I once quit my job (back in 2021) to depend only on fx but I could not stand it cos I'm not the only one in the family - I had to return. However, there is a career level I plan to attain to call it quit. But even at that, I would still go into paid employment but a much more flexible one where I can place my laptop on my workplace table with fx charts all over the place.

wise words sire, wise words indeed, you have given me a roadmap and an inspiration. I thank thee so much...

Davigle:


chairman ohun ti o nse ko da ooo, ahn ahn let the poor breath, pls don't suffocate us now, only you wan pack all d moni, abeg remain small for us ooo

🤣🤣🤣