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My Forex Journey / My Forex Trading Journey From $5 / My Forex Journey Of Growing Small Account (august-september) On Forex. (2) (3) (4)
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Re: My Forex Journey by FitCorper: 3:06am On Nov 13, 2023 |
CodeEmir:How w much are you willing to pay? |
Re: My Forex Journey by efe21: 10:18am On Nov 13, 2023 |
Geovanni412:Nice one brother. I like your point, it's valid. I actually posted with experience traders in mind and not newbies.... Most definitely the volatility indices are not for newbies because even vix 150 (1) index as modest as it is, will still shock a newbie..... So I agree with you completely.... For a newbie or traders with small accounts, DEX Index is well suited for such group..... Cheers 🍷 Bro. 1 Like |
Re: My Forex Journey by efe21: 11:13am On Nov 13, 2023 |
DEX 600 Up Index trade currently running in profit on zero risk as SL is already $0.06 above entry. In an uptrend, price will continue to go up. DEX was created for small accounts by Deriv and people with balanced mindset of growing gradually as they learn their price action squarely. Just to put a picture to the plenty talk.....Cheers 🍷.
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Re: My Forex Journey by efe21: 11:31am On Nov 13, 2023 |
My entry just activated for DEX 1500 UP Index. Running on zero risk as SL is $0.01 below entry point. Price action is always key (change of character, break off structure, and candlestick pattern aligning with the trend and other confluences) and then lastly your money management concepts.... How to use SL and TP correctly to protect, trail, and rip because it make no sense to lose on a trade that have gone into profits before..... Lolssssss . Capture below are visuals of the trade on both M15 & H1..... About getting very busy now, enjoy the rest of your day traders, and always keep it real... Cheers 🍷.
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Re: My Forex Journey by efe21: 3:21pm On Nov 13, 2023 |
Volatility thinning out. Indecision candle happened an hour ago, and current H1 candle fighting to make a new high. So retracement is in the pipeline definitely. Closing any moment to secure progress as there will be other opportunities to make more.. Cheers 🍷. 1 Like
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Re: My Forex Journey by randy01(m): 4:42pm On Nov 13, 2023 |
Am getting frustrated on deriv since 3days now.my trade will take me out then continue in my direction 1 Like |
Re: My Forex Journey by efe21: 8:02pm On Nov 13, 2023 |
Sniper entry. Very easy.... Breakout of resistance after spotting bullish momentum propagated by twins H1 hammer candles followed by a bullish engulfing.... It doesn't get easier than this. LoLzzzzz .... Cheers 🍷 1 Like
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Re: My Forex Journey by efe21: 8:13pm On Nov 13, 2023 |
randy01:It's normal, but shouldn't be frequent. Hope you are not counter trend trading? Secondly hope you are not trading too close to the swing levels, because if you are, then it is natural for price to retest its recently breakout swing level inorder to gather more momentum for the potential impulsive movement it's about to. So if your entry and SL is too tight, price will definitely take it out as liquidity pull/grab and move away almost immediately to your anticipated direction. Try to work on your emotions in relation to SL placing, and try to always place your SL in the previous swing level before the current one where price is reacting which resulted in giving your entry point. All the best Brother.... Best of luck.... Cheers 🍷. 2 Likes |
Re: My Forex Journey by efe21: 8:39pm On Nov 13, 2023 |
Alright goodbye guys. Was only passing through this thread. Wonderful thread it is. Kudos to the admin for creating this thread and telling us your inspirational trading story. Goodbye and cheers everyone🍷. 1 Like |
Re: My Forex Journey by randy01(m): 9:11pm On Nov 13, 2023 |
efe21: Thanks bro One love |
Re: My Forex Journey by randy01(m): 2:52pm On Nov 14, 2023 |
Same problem continue today.took my stop loss and moving in my direction.i have deposit my last $10.if I lose it I will stop trading synthetic trading and focus solely on Forex. My long on gold is moving well 1 Like
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Re: My Forex Journey by randy01(m): 4:27pm On Nov 14, 2023 |
This is trading.there will always be a loss but the loss most not be much than profit.volatility will wait for now cuz it leaves no room for mistake at all.it ready to wipe out traders at anytime mistake happen but Forex will leave you with something after mistake/stop loss happen. 1 Like
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Re: My Forex Journey by randy01(m): 4:28pm On Nov 14, 2023 |
Time to focus on getting pro firm account. |
Re: My Forex Journey by randy01(m): 5:49pm On Nov 16, 2023 |
Audusd pick my stop loss and reverse immediately to my anticipate direction.well usdcad is fighting my battle
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Re: My Forex Journey by randy01(m): 5:55pm On Nov 16, 2023 |
Audusd does same on competition account as well but it already brought back my money with little profit.i discovered having more fund is secret to this business cuz immediately it hit my stop and reverse I open the short again cuz I get more fund if it hit stop again and I trust my strategy. I must get pro firm account before this year end. that's the goal 1 Like
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Re: My Forex Journey by Crumbian: 1:23pm On Nov 19, 2023 |
Geovanni412: Bros no vex abeg, I get questions. 1. Do you counter trade Crash/Boom? Have you ever lost more than the $2 risk while doing so? I'm asking cos those spikes can be very large at times. 2. At the bolded, Can you explain more? Especially when you said "buy below base" and I'll like to know what constitutes a breakdown in structure on crash/boom indices. |
Re: My Forex Journey by Geovanni412(m): 3:43pm On Nov 19, 2023 |
Crumbian: I'll refer you to the expert on this---follow the strategy in the video: https://www.youtube.com/watch?v=O7F7Ywbzg3M&t=605s&ab_channel=kingsfx crash and boom is not best for risk mgmt of 1% if you want that, please trade dex down and dex up indices...you can get lot size of 0.01 on that.,,same strategy in video will work 1 Like |
Re: My Forex Journey by Crumbian: 3:51pm On Nov 19, 2023 |
Geovanni412: Thanks for the video, I really appreciate it. I'm actually okay with the $2 risk, I'm just wondering whether it's possible those spikes lead to a loss bigger than that if you're counter trading (buying crash, selling boom). 1 Like |
Re: My Forex Journey by Geovanni412(m): 4:22pm On Nov 19, 2023 |
Crumbian: It can lead to that depending on your stop loss. If your stop loss is less than 10 points, you are at risk of that happening to you. I'd suggest you go with dex indices, and compare it with crash indices on demo Take trades both ways and see how the market respects your stop loss on both then make a decision. |
Re: My Forex Journey by Crumbian: 8:32pm On Nov 19, 2023 |
Geovanni412: I don't really get that DEX. I tried that 10 point stop just now, selling boom index. Had a spike around $1.40 but I'm now back above entry. Thanks for the info. |
Re: My Forex Journey by Geovanni412(m): 9:11pm On Nov 19, 2023 |
Crumbian: It works the same way as crash and boom... The system is based on the concept in the video I sent earlier ...for dex, the strategy is to wait for market to make two consecutive bars in one direction then go to lower timeframe like 1min and 5min. Of course, you will check higher tf to consider probability and targets and overall direction. Once everything aligns, you're good. Enter it...use like 13 point stop. You will have better risk to reward on it. If you get above 1:1.5 or 1:3 sef, take some profit and let the remainder ride to your target. In the pic below, my total risk was $1..if you do the math. Ofc, not all trades are these successful but the fact that such a risk reward exists makes it worth trying. You can't get this on crash 1000 unless you are willing to have a stop loss of 2points and to bear the underlying risk of market shooting past your stop loss and whatever loss you may suffer.
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Re: My Forex Journey by Geovanni412(m): 9:31pm On Nov 19, 2023 |
@Crumbian, Here's what can happen if you reduce stop loss to 2 points on crash and boom and it goes against you Risking $1 on demo acct, I hedged a position by going short and long. See the result below...market overshot the stop loss by a far distance This is why I said for risk:reward reasons...dex index is better unless you decide to focus only on catching the crash in crash index and get a system for doing that only. 1 Like
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Re: My Forex Journey by Crumbian: 10:20pm On Nov 19, 2023 |
Geovanni412: Funny, cos this just happened.
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Re: My Forex Journey by Crumbian: 10:31pm On Nov 19, 2023 |
Geovanni412: The two consecutive bars are from which TF? H1? See the box area in the picture. Are you talking about something similar? And please can you explain the bolded a little more?
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Re: My Forex Journey by abham: 11:17pm On Nov 19, 2023 |
You can actually use the 0.01 on assets that have a minimum of let’s say 0.3 for example. The lot size you will use will be 0.31, then when you go to close the trade, close 0.3 and you will be left with 0.01. In the photo attached, boom 500 minimum lot is 0.2 but I opened a sell 0.21. Where the blue cursor is with 0.21, clean the 0.2 and you will be left with 0.01. randy01: 1 Share
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Re: My Forex Journey by Geovanni412(m): 11:41pm On Nov 19, 2023 |
Crumbian: H1 ...you'd have to understand price action to make it work . Some will be traps and you may not have any trade for hours For crash 1000, nothing agst it just that all ya sweat can be wiped away with one loss unless ya trading is for crash on crash 1000 and so on. |
Re: My Forex Journey by Crumbian: 12:03am On Nov 20, 2023 |
Geovanni412: I kind of discovered something, I may be wrong though. Margin. If you take a trade on crash/boom and a spike went against you but you have a tight stop loss in place, deriv will just take the required margin from your account. The margin on boom 1000 is $6+ for 0.2 lot, which is similar to my loss after that gigantic spike Had $10 plus almost $2 profit in the account, left with $5.88 after the spike. I had a very tight stop in place. The other boom/crash have margin of $3 and below. Just saying. |
Re: My Forex Journey by Crumbian: 12:05am On Nov 20, 2023 |
Hey guys, how about we keep the synthetic traders thread alive? https://www.nairaland.com/6901075/synthetics-traders-thread |
Re: My Forex Journey by Geovanni412(m): 12:19am On Nov 20, 2023 |
Crumbian: Not so much....If ya stop loss is that 10 points or say 20 pts, you may lose less, it all depends on the fill But to avoid stories that touch, look for sells on crash indices and buys on boom indices. |
Re: My Forex Journey by Geovanni412(m): 12:23am On Nov 20, 2023 |
abham: You're a genius for this..oil dey ya head @crumbian, work with this for ya risk mgmt if you must go with crash and boom 1 Like |
Re: My Forex Journey by randy01(m): 4:45am On Nov 20, 2023 |
abham:Respect bro.wish I knew this earlier.i open this thread for more knowledge like this.i would try this when am ready to trade volatility again. I would focus on Forex for now.special thanks bro |
Re: My Forex Journey by Crumbian: 5:16am On Nov 20, 2023 |
Geovanni412: Yes. Realised I probably wouldn't have lost that much yesterday if I had used that 10 points you recommended yesterday. Seems if your stop loss is too tight when the spike comes, deriv won't even bother to calculate your actual loss, they'll just take the margin. Smart guys |
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