Meditations on Extremistan - Nassim Taleb

Close the shop exactly 5 minutes before the red news...
Lel

Don't forget to read the entire thread and get plenty of practice in demo before engaging in live trading or using a prop firm demo.

Fire ▄︻デ══━一
Range 2 - Range 3
Long EUR/USD, 1 unit 44 pips, 0.5%
Short USD/CAD, 1 unit 38 pips, 0.5%

Fire ▄︻デ══━一
Range 3
Long GBP/USD, 1 unit 39 pips, 0.5%

USD/CAD hit TP (Forgot Red News )
EUR/USD hit BE +1

Fire ▄︻デ══━一
Range 3
Short USD/JPY, 1 unit 65 pips, 0.5%

Morning

GU Loss
UJ Win

If you already have a well‑established system or method, trading becomes an enjoyable task of staying true to boredom, discipline, and patience.
As of today, aDtr has 21 selected pairs out of 28.

aDtr (average Daily true range)

Prop Firms Challenge CFD Brokers: Takeover or Coexistence?
Wednesday, 16/04/2025 | 16:31 GMT+8 by Paul Golden

https://www.financemagnates.com/fore...r-coexistance/
Good Read

We know this field is purely speculative, meaning it is much more random compared to real work (science, skilled worker, etc.). Thus, the cost is far cheaper with higher rewards, making it highly advantageous for traders compared to the risk of losing 100% of funds when depositing into a live brokerage account. The risk here is 7 times greater than depositing into a gaming prop firm account.

However, the reward mechanism also needs improvement. It does make a little sense to pay $100 and, upon passing the challenge and success in funded account receive profits like generated in a real account. It should be simpler: if someone passes the predetermined challenge, for example, paying $100 should grant a 7x reward (e.g., $700), without the need for two steps—passing the challenge and then a "funded" account that doesn’t hold much meaning. So the risk for this gaming prop firms isn’t too big.

$100 for $700
$200 for $1400
$300 for $2100
and so on

So, this industry still can't distinguish between coconut trees and oil palm trees. Promotions can reach as high as the sky, but an industry is built on hard work and honesty. As John Snow said, if you’re not honest, then the words or sentences you speak have no meaning at all.

Move SL to BE+1 after 1/3 TP

EU move SL to BE+1 after 1/3 TP - TP 45 pips so 15 pips
ECAD not yet - TP 56 pips so 19 pips

It’s now a free‑risk trade. Hopefully it hits the take‑profit. If it fails, try again, try again next time.

Both hit BE+1

Fire ▄︻デ══━一
Range 2
Long GBP/USD, 1 Unit 40 pips, 0.5%
Long GBP/CAD, 1 Unit 56 pips, 0.5%

GU forming a bullish pennant, but no idea when it will break. Is it going to be a broken pattern again?

Lol, pennant with stop hunting wick

Hit BE+1

Second re-entry closed. Trade later after Red News.

The price is directionless, like a saw. Too many stops hunting.
Last - Short Duo EUR/CAD - GBP/CAD
56 - 56

Closed earlier because I was tired. Turns out it kept going down after I closed, Lol Sometimes the pair we choose doesn’t produce a good outcome, because each pair has a different timing or moment of opportunity. Many pips are sometimes wasted while waiting for the trade to hit TP and price then reverse hit BE+1, whereas if we use a universal TP like in the original TVT 20 system, for example 20 pips, it can be too small to be SL, making it easy to get hit, but nice for quick small TP (20 pips, 0.2%, 0.1% per 10 pips, but not all pairs have the same pip value).

The spreads at this broker (Blueberry Markets) are still wide as of now (Asia Range 1) for all pairs. They normally return to normal about two hours after the daily rollover, but today something’s odd. I guess today holiday. I thought the holiday was yesterday.