Walter
@wamitheko
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If the plan was to open up a fund or a shop, I'd go for the best traders, top of the pile, you and I know a few.
But when the plan is to find a way 1st to visualize 'the pile', you go for traders who are hungry enough to see the growth of a genuine trading community.
#TradersKE
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So a guy wants to sell you a bot that will make you millions for $100 instead of using the same bot to make himself the millions.😂
Some of you are getting scammed willingly.
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You've been an A student in mathematics, have a degree in a business, finance, econ or mathematics and you are a trader?
Update your LinkedIn profile search for Junior Trader positions in other countries UAE, Australia, Canada and so on.
Firms especially energy companies...
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Let's not waste all this energy and create opportunities for local traders.
I am willing to organize a continuous month to month trading competition.
Segmented on the different asset classes... Fx, Indices, commodities and stocks.
All I need is a willing broker to host it.
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Showing Up in trading is underrated.
No matter what level of trading you are in novice, semi-experienced or pro just show up.
Nothing beats screen time in trading..
Going through a winning streak, show up
A losing streak, show up
A breakeven streak show up.
JUST SHOW UP.
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You trade long enough and it gets very easy to differentiate a real Trader to a black hat Trader.
Faking the Trader lifestyle is very hard and most of the influencers are waaaay out of touch with the Trading Reality.
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The buyers took the stairs up but the sellers want nothing but an elevator down.
Fear is stronger than greed.
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It might seem like it's all about social media hype and games but what you don't know, some of us have passion in the financial markets and genuine interest to see the industry broaden and deepen.
Have a pipful day.
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Kenyan Fx bros apply for the May free competition we represent 🇰🇪
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Kenyan/EA/African Trader bros hear me out.
I've been brainstorming on ways to demistify prop trading. I thought of writing endless threads on prop trading but I don't think it will be enough.
As soon as I settle in and fully get back on my desk hopefully by next month...
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The beauty of trading is the continuous learning and self improvement.
The trader you are rn is a very different trader from the trader you were at the beginning of the year.
We literally live and learn. 💪🏾
Have a pipful day.
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8 years later after first reading Edwards and Magee's book Technical Analysis of Stock Trends, I now understand why they used Stock Trends instead of Market trends.
In the 8 years, I have used the classical concepts across different asset classes and since...
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Instead of selling signals,
Why don't you use a copier, register your account as a strategy provider then let in the guys who want signals from you as slave accounts. When you make a profit/loss y'all make a profit/loss.
EOD take your share from the broker instead of the clients.
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The goal is to protect capital and profits will take care of themselves.
Huge profits without systematic risk management is a recipe for disaster.
Have a pipful week.
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Trading is more about risk management than being right.
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This is exactly what I was talking about.
We post charts and explain the entry criteria to our audiences.
This will change the narrative of the game. 💯
Top content 🙌🏾
See that swing low of 2196.52 ?
Look how price flirted and touched it several times. That could be your entry. 💯
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Trader Bros
Passing your prop challenges is not conquering prop trading, maintaining that account to give you payout after payout is all that matters.
You can pass and not even get to the 1st payout... I've been there and it hurts
Manage your greed, stick to your risk parameters.
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My trading changed for the better since I started using a position size calculator, then I added a fixed percentage risk per trade and a fixed RR as the icing on the cake.
I feel like a human robot.
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My 2023 trading taught me a very important lesson.
You see that A+ setup of yours, once it checks all boxes, Go hard or go home.
The rest of the time just do nothing and be Patient.
Have a pipful day.
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#TradersKE
You have a working technical strategy, built around price&time, that right there is a sneak peek of crowd psychology on how masses spend money.
Did you know all other assets classes use the same price&time and the only difference is momentum and a few fundamentals?
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I don't understand why brokers are fighting the idea of enlightening traders🤔.
If you want to know how big
#TradersKe
is, The corporates, top of the industry is getting threatened by how big it is becoming.
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#TradersKe
lads take care, don't be caught in herd mentality execution.
Do your own analysis and stick to your system.
Recently the TL has been looking funny and not the good kind of funny.
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Risk Management is the only Holy Grail in trading.
What is the one forex trading take that would get you like this?
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Kenyan Fx Traders to paid kox influencers who know nothing about trading.
Mambo ya trading waachie traders waongee. 😂😂
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This guy, Walter amazes me and I learn a lot from him.
He trades with the overall Fed's sentiment, does not waver on market expectations and ripples.
I don't advocate for averaging but man this guy has one solid approach.
I give him his flowers💐
eur/usd flat tradig inside short from 1.0836 at 10812 +24 pips daily total -3 pips
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From IG demo baddies to TikTok swindler financing his prop career.
#TradersKE
keep exposing them, we must change the narrative. 💪🏾
Have a pipful day.
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Trading is boring.
You do the same thing over and over again. Most of the time you are just waiting for your cue, then after a few clicks and typing, you go back to waiting.
The learning phase is fun since you get to learn new exciting info but actual trading is very boring.
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One day you will look back and thank yourself for committing all those hours in learning the craft.
Personally, I needed grounding and trading did it for me.
Keep going
#TradersKE
💪
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There's a bunch of traders who are very lazy and got in the game because we make money buy sitting and staring at the screen. I've got news for you.
The learning curve is tough fine but you know what's tougher? The scaling part.
You have a strategy, fine, now get out of....
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You can talk big F.A, T.A and chart analysis but in this game the only thing that matters is execution, risk management and how you manage your trades.
The market banter and market know-how does not prove that you are a profitable trader.
Leteni evidence kwa kalatas.
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Day trading has really changed how I hold on to bias. I quickly drop trades that go against my analysis with the first hint of change of direction.
In swing trading there's a lot of patience when it comes trade management but here there's a lot of quick thinking involved.
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I am tempted to do a thread content on trading patterns now that most of you are in the know that all trading concepts have an edge but TIME.
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A BE is neither a profit nor a loss.
It's a BE since you moved your stops above your entry covering your commissions and any other expense incurred.
It's 2024, tuambie traders ukweli.
I cannot insist on how Unpopular this opinion is but it is true.
#TradersKE
, a BE is a loss. Count it as a loss when you are journaling.
In these markets it's either you win or you lose, no in-between. Never lie to yourself that it's not a loss because you didn't lose money.…
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PATTERNS🧵
Patterns are visually oriented setups and to the basic human eye, it’s just a bunch of trendlines drawn on the chart but Edwards and Magee of the technical analysis of stock trends (1948) will disagree.
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The Glitch we should let slide are very expensive for a broker.
Oanda had such an incident early this year and a lot of traders dropped them.
Eightcap had the same situation and prop firms started dropping them in droves.
Stop using influencers and find a way to settle this.
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Finally, as promised the challenge is purchased, ready to start and swing my way to funding as I try to demystify prop trading.
Rules remain the same.
Coped the 5k challenge.
Risk (0.25-0.5 pc per trade)
Swings only (4hr-D1 setups)
I'll post the setups and updates.
Lets go 🚀
...I was thinking of taking a live trading prop challenge which i'll post each and every trade & the evaluation stats until the account gets funded or not.
I can already hear the pro traders cringe on how risky this is but I am willing to take the fall for education purposes.
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Lunch time thoughts during the sabbatical🤔
Trading just like any other profession, a doctor, lawyer or teacher, there is no direct correlation between what you know and how much you earn.
That's why in trading there's a huge difference between profitability and consistency.
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Saturday morning thoughts on a mistake I've made in the past.
Trading is an individual and very personal skill, you find your account being handled by an extra pair of hands... Your account days are numbered.
A Trader must learn to be accountable for his/her own decisions.
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Talking and commenting about the markets is not hard.
I don't know why guys are trying so hard to be crowned top trader in
#TradersKe
The wind will blow and you will embarrass yourselves.
Wacha mimi kijana ya shule concentrate on my course work, mwendelee hivyo hivyo. Content👏🏽
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Don't underestimate the power of one setup especially for swing traders.
If you know how to manage risk distribution when averaging in a confirmed setup, you are a beast in trading.
Kwa hayo machache... Have a pipful day.
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I'll summarize yesterday's
#TradersKE
space with one sentence.
Specialization before Diversification.
What did you guys learn?
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Central banks focus on 3 things:
1. Inflation.
2. Employment.
3. Aggregate output/GDP growth.
CBs lately have concentrated on the first two and I see Traders ignoring GDP growth but wait until inflation stabilize, GDP numbers will be catching you off guard.
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Monday to Monday.
Done.
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The show Billions potrayed the importance of having a performance coach doubling down as a psychiatrist in trading. Emotional management in the industry is underated (IMO)
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In trading, there's is nothing like fixed correlation.
Decorrelation happens on and off especially with change in fundamentals.
Do not over rely on correlation.
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ENTRIES.
There are 3 common entries used in Classical Charting.
These entries define a trader's emotional balance when executing trades.
Entry 1 (The Aggressive Trader)
This is basically buying immediately after the breakout. This entry gives the trader the best R/R ratio...
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Knowing when to trade and when not to trade are factors of Patience.
Consistency is not just about being profitable but a result of patience and sound risk management.
Have a pipful and consistent week.
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Relative.
If you have the privilege to purse a degree you have interest in, capitalize.
With the degree or not, what remains constant is skill acquisition.
Some skills especially in finance require that paper to play in the big boys arena.
Studying privilege is underrated.
“Degree is just a piece of paper”
Some got mad I told them this and they said I should print mine
I printed my bank statement from January instead 👀🤣🤣🤣🤣🤣
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All traders would agree that,
Psychology should be the 1st chapter when you are starting out on trading... It takes a very long time to unlearn trading myths and misconceptions.
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SCREENTIME.
In Trading there is no way around screen time. You have to do your time.
Have a pipful day.
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@RobertAlai
This is cheap... Babu might win against NMG but not against Dj Evolve. Justice Justice Justice
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Trading edge = your offensive weapon
Risk management = your defensive weapon
Psychology = your ability to balance your weapons
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I am not one of the best writers in the house but I want to write a thread on old and new age trading concepts.
Reading it won't make you profitable but atleast knowledgeable on how the game has evolved based on what I know so far.
Buckle up.
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Boom!
It has started being televised.
Trading floors about to follow. Watch.
We are looking for a talented and highly motivated individual to fill the position of FX Trader.
If this is you, send your CV to jobs
@co
-opbank.co.ke indicating the job reference number FXD/FSD/2024 by 19th January, 2024.
For more information:
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Let's talk Market Conditions.
The market is data driven and diffrent market drivers dictate price action.
Since I started trading and using my strategy, I have experienced different market conditions driven by economic data
We traded through:
1. Us-China trade war
2. Covid break
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Specializing with a single asset didn't agree with me but trading a single setup is proving a game changer esp in stocks.
I have narrowed down to a favorite pattern, the most recurring setup among the classicals, a continuation setup...
The Triangle setup.
Have a pipful day.
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You pay $50 for a $5k prop challenge and you want to trade the challenge like a personal acc?🤷🏾♂️
Say you deposit $50 in a brokerage acc, do you trade it hoping for a $200-$300 payout in a couple of trades.
Trading props require healthy risk aggression...
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You know that feeling when you take a setup and 80% up, already riding risk free..having not booked any profits price pulls back and a 3 day swing trade ends in B/E. Risk-wise you are glad you got out whole unscathed but you spend some time wishing you could have booked some blue
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You'll be trading under pressure and it will affect your psychology.
Not worth it.
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Real Talk Sunday
Ask your local brokers,
How many accs have an equity of more than $1k?
You are already a competent trader and do 5-10% pm, is $50-100 enough to trade full time?
From your profits, take the rest of the year try and get prop funded and change your life.
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Even after modern monetarist dismisssed the assumption money is only held in cash or bonds...and other factors also affect demand for money, Mr. Economist you want to tell us billionaires are cashing out of stocks and not looking at any other investment just Gold.
Not bonds/Cash?
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Ego is the worst trait of traders in a community setup
Last year we attended a traders meet up hosted by one of the local brokers and everyone of them was talking big on how much they are printing, one even told us he has not made any loss in 6mnths jst to prove how good he was😫
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I really miss the decorum and respect we shared among the small circle of Kenyan Traders '20 - '22.
We shared ideas, threads, telegram groups in different strats and we learned a lot from each other.
@AtradesGold
@MGAWMC
@Rashidtrades
@mytradesignals
@RufasKe
This year wueeh!!!
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Training your eye to spot a setup is one thing,
Finding entries,exits and the patience to wait for the outcome is a whole other jungle.
In trading, easy is not an option.
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They say the trend is your friend.
I say,
During a trend, price consolidation is your best friend.
Trust price consolidation to give you entries, reentries, early exits and reversals.
It is all in the Tape.
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Having a good month does not mean you've conquered the markets.
Having a bad month does not mean you are bottom of the barrel trader.
Strategies differ... Also profits and losses go hand in hand.
Have a pipful week.
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The Fed wants to lower inflation at the same time continue to give cheap credit to CRE,banking on hopes of reducing money supply by hiking interest rates.
You come at me with selective credit control is also a tool,refer to CPI prints since pausing started.
Something has to break
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I am for the opinion that a trading system should be of simple rules, basic T.A techniques and simple charts. In the past, the more I sophisticate my charts and system the more I lose money. Trading is not rocket science,It's simply strategy, patience, rinse and repeat.
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@kahome_steve
Deposits have been going down since 2016, affecting their previous main source of revenue (loans) and now they are looking for other sources of income. The traditional banking system is slowly getting phased out.
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@MuiruMark
I know doctors who are also businessmen and many career guys who double down in other field. Trading is no different and especially when you are starting out on the road to profitability do something on the side to help you with income and to protect your trading psychology.
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If you can't see the absurdity going on in the markets right now and still go ahead and make a trade, I have news for you...
You deserve everything the market is about to throw your way.
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WHICH TYPE OF TRADER ARE YOU?
Knowing which type of trader is very important, It revolves around time and your emotional balance btwn Greed and Fear.
Short-term Traders (Scalpers and Day Traders)
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Billions is Axe and Axe is Billions.
Also Skully and Hitchcock are the funniest characters in Brooklyn 99.
Unpopular opinions about a movie/series that will have you in this position?
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The traders Exodus from forex brokerages to prop firms should be documented.
It is adapt or die trying to maintain the already saturated fx brokerage market.
The funding firms are becoming more and more convincing by the day.
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The 1st week of March '22,Gold was trading above $2k and on the hourly chart a reversal Head & Shoulder formed sending price as low as 1615.
Its March '23,gold has already tested the $2k resistance and on the hourly we have a potential H&S forming its right shoulder...
Goodnight
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Why use the classical charting technique?
A lot of traders know how to read market price action, they can tell price supports, resistance, a trending market, a consolidation range but still find themselves inconsistent in profiting.
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Hey... Progress, not perfection.
It's CPI day and you don't have to trade. GL
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So, 31st Oct I breach my mffx 5k acc.
On to the next one as of 1st Dec after a month long Prop break.
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An underrated trait of a trader is Survival.
The longer you survive the harder your skin grows.
Use all tacts to hold that acc longer, you'll see results.
The longer you stay in the markets the better you become.
Survival.
Have a pipful day.
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Just a reminder, the CBK reopened a five-year paper and 15-year security. The two instruments will be available for purchase until tomorrow January 10, 2023.
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Everyone is in a hurry to take up the $1 giveaway but I hope you guys are reading the rules to avoid invalidating your accounts.
Safe Trading.
⭐️ $1 for a $20,000 evaluation account
Hey 5ers,
The5ers celebrates the end of 2023 and the beginning of 2024
🚀 Prove yourself for only $1!
Grab a $20K Bootcamp evaluation account for just $1
The celebration ends on Dec 31 🤩
*Payment only via credit card
*Limited to one…
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1K
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If you know your Macros right, Black swans can offer the most profitable trades but they tend to be very volatile.
Correlations go off and inefficiency is at its peak.
If you find what is happening confusing, choose to protect your capital.
Safe trading this week.
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I know you guys like backtesting during weekends but today try updating your levels/zones delivered last week and go rest up for a clear mind this coming week.
Say no to perfection, trust your system.
Si kila saa backtesting bana.
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To whoever needs to hear this,
Clear your chart, restart your analysis.
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This week is turning out to be a metallic week, with silver linings and Golden showers😅
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This is
@Rashidtrades
for more than a month now.
We are going through a lot of problems na si sisi tulijiletea. 😅
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It's amazing how physically exhausting it can be to do nothing.
If you are unable to endure boredom, this work is not for you.
Wueh! Taking a break is not easy, literally counting days to get back on the charts.
Have a pipful month for the traders trading through Dec.
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I was just about to talk about this.
Now it's either FTMO or My Forex Funds... The rest🚮
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".... There's no right way to trade, there's no rule book. What there is... (pause)... is different people finding what suits them and make money...."
Listening to a more experienced trader 🔥
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The narrative has to change from lifestyle traders to actual traders who can talk about the trading journey in its purest form.
The goal is simple, avoid gimmicks, bring top of 'the pile' skilled traders together and let the community learn from the best there is locally.
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Spotting patterns and trading patterns are two very different things.
Patterns appeal to the visual oriented guys, very easy to spot but trading them is a different ball game all together.
Go read
Technical Analysis of Stock Trends by John Magee and Robert D Edwards.
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That's how IMF works when they get to save your country from misappropriated borrowing spree. It was either this or the Sri Lanka way.
The goal remains chasing the bag.
Have a pipful day.
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Tomorrow is a very eventful day,
BOJ in the morning and ECB in the afternoon. Wild price action is expected.
Buckle up.
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