DELSU MTL COMMUNITY

Bought gold later yesterday, and closed out because there was a reversal coming

Yeah, and that caused oil price to rally from 68k to 75k, per barrel and it also supported the cad against us dollar

It should be taught and experienced

Oh, ok

Yesss, you have to wait for confirmation that the present sentiment has aligned with the overall sentiment in order to increase ur chances of profitability for this set-up

Yh, experience will definitely take longer 😂😂

GM traders and happy weekend 🐦‍🔥

On today's question: How many losses should one take before u stop trading in a day?

Good morning

For me I think it depends on the number of trade one is taking, so for instance if he's taking 10 trade and hit 3 to 4 losses I think he should close the trade and reunite with he's mind because if he continues he might end up trading emotions

True sha,

But in my own opinion, I'll review my strategy after hitting between 5 to six losses

Bcos if u remember, I said sth about a 40% win rate keeping you profitable in the long run, so u only need to win 4 out of 10 trades to be profitable, then maybe 1 or 2 break even and the rest losses, so once I start having a losing streak of about 5 to 6 consecutive trades, I'll hit a pause on trading for a while in order to review my strategy

For those who don't understand, a break even trade means u neither lose nor gain from that trade

It depends on your account size and daily draw down, let's say I have 200k account size and am supposed to risk 1-2% which is 2-4k right , so now in a day if I lose 2-4k am supposed to stop trading for that day very simple, no logic, no emotions just the plan, it helps your psychology and keeps your account secure on a long term, but if you don't put this plans in place you will definitely blow your account in one day, so you have to calculate your risk and any trade that is above your risk limit avoid it no matter how sure it is, because the financial market is 99% risky anything can happen at any time

Honestly, it depends on your strategy. But personally, I prefer trading not just one prop account at a time so there won't be pressure to pass or take payouts. And I have maximum of 3 losses a day on one account.

Like this now... nah so I just dey wait make btc break that RZ and retrace . I swear nah to knack am better leverage , I swear god.

No b lie bro 😂

This weekend is the time to review your performance for the week, check if there were any mistakes, anything you could have done better to improve on the next week. My setups were all good this week and I didn't trade with my emotions. But I didn't execute most trades on time. I entered some late so it reduced my risk to reward on many of my trades. I plan to use this week to find a way to set alerts on fore pairs for free, and also be more active on the charts so as not to miss opportunities.

Wow not bad at all

I go reach there soon

Sharp bro... you did well my man.

Set-up on gold ... waiting for a sweep up of the swing high before my OB will now be valid 👌 🙌.

What do think.... do think it can still be valid without the sweep of the swing high. 🤔.

Anyone that has a better explanation should help out.

Ajeh... if it happens my life saves I go used knack am ... If perish make I perish.

Please... how does oil react. Cus I have been trying to trade crude oil 🛢🛢 🪔 🛢 lately but nothing to show fort . Like I don't understand how to place correct set up for crude oils

Do you mind putting me through bro. Maybe here or on our WhatsApp group platform.