Just another post to remind myself

Not sure if its just me or it happen to everyone else...

Ok this is a story of the difference between what i want, what i expect and what will actually happen. Or rather, a little true story of greed and fear.

I believe most of us would have read stuff like having a system, or a set of rules to follow strictly to, be it online or books we grab off bookstore shelves... Yes, im just like the majority of self learning traders-wannabe out there.. i came out with a system that (i hope) suits to my style of trading.

Imma skip the part whereby we came up with that signal entry and exit thing. We all have our own different way of entry and exits. What im actually want to talk about... is the part where we set the stoploss and take profit level.

So generally, we all have a certain percentage of our account that we are willing to lose and also... not to mention, the best part.. the part where we plan how much we can rip from this trade. That is the profit part.
Ideally, profit should be bigger than the loss. We read stuff like 1:2 or at least a 1:1.5.. worst to worst... 1:1.. right? Well logically thinking, we wouldnt want to have our risk of loss higher than that of profit. Very safe i would say. Because that is what i am doing.

So there we are, entering a trade when the entry signal came, we try to set the parameters for SL and TP.

Subconsciously, i will have in mind where i want my TP to be... We all know that our system will give us an exit, like the last peak? Or at one of the major resistance level? But what if these level doesnt rip u the amount of pips you want? It could be like 10pips away to your ideal ratio of 1:2... Greed perhaps.. i will sometimes set my TP at the level where I WANT.. L O L... As im typing now, i know it is stupid... but in the midst of making that decision during trading... Emotions come in.

So well sometime my greed pays off.. but usually, there isnt any good ending.. HA HA

Not only did greed affects my decision. sometimes fear also makes me set my TP at safe level. So the ending is of cause, wasteful. I will waste a chunk of the profit due to my bad decision to be safe and not go for more. Amateur mistakes.

As for SL, discipline and past bad experience tells me that i should just set it at a point where its the amount of loss that im willing to risk. Simple as that.

Fortunately, that was the past me.. It seldom happen now. Occasionally i still have the itch to.. you know, get back to old self.

If you did what i did, and still doing what i did... You are not alone............ I know that feel bro. Keep resisting the temptation yea?

"This is John Connor. If you are listening to this,you are the RESISTANCE."


Regards,
Bottle

Bottle's crystal ball speaks

Did something pretty stupid earlier.. I set an order to BUY EURUSD pair, but instead... It became a SELL due to my carelessness.. Clicked wrongly i guessed, and without double checking... of course.

Order filled, price plummet about 50pips down... i thought to myself OMG.. what a bad entry... Couple of hours later the price went back up to my entry level. I check my trade again.. DAMMIT WHY IS IT A SELL??? Which means.. i was in +50pips earlier... Mother of goddddd.... If i had checked earlier, i would have close it and earn those accidental profits. MUhahAHAHAHhaha


Close my SELL trade and lose several pips. Did a BUY trade at a lousier price. Keep cursing at my carelessness while executing all these.

Went to sleep. And i dreamt that my BUY trade is still ongoing with +85 pips.. Exactly near where my TP is.

HMMMMMMMMMMmmmmmmmmMMMmmMM

I entered 1.3050. TP at about 80 - 90 pips up. Will my dream come true??? Current price at 1.3070.

Stay tuned...

Bottle

My Friend the Trend

Did a guerilla counter-trending as you can see on the above image. My step by step thoughts on how i did the trade.

1. Identified the trend to be a down one.
2. Notice a shift in momemtum, a retracement is coming.
3. Get in trade and TP level at purple circle with stop loss 40pips away.

As time passes by, my desired result is not achieved yet.. Major market is opening and realize the ball isnt in my court anymore. It is taking too long. Felt uneasy as im going against my friend the trend. I entered the trade while major markets are closed. Market was quiet. But now the market has awaken and so is my friend... I backstabbed my friend the trend while he is asleep!

I felt guilty and exit my position with a +5pips.

After which, i went on to sell the pair right after my signal appears. Retracement over, time to go back into the supposingly downtrend that i think it is.

Entry on that red arrow... exit circled in green. Around that area which i cant rmb exactly where. Just rmb i got a tidy +60pips.

I hug my friend again~~~~

All my plannings and thinkings and assumptions of the market may not be right. It maybe laughed upon by the experts. But at least i do what i know and plan what i know. Im trading with a plan.

It rrrrreaaaaaalllyyy feels good to plan a trade, carry it out... best of all, end up with a profit.

Bottle
Trade to trade well.

Crazy Week

Ok where do i start... Crazy week as a title sounds more like having alot of fun during that week... Doing crazy stuff you never imagined before and totally enjoy it. But no, not for me...

Almost every trade this week goes AWAY from me, followed my setups but keep hitting stop losses... And those setups that i missed(cos of work or other commitments), travel nicely to TP(had i spot the setup and went in trade). This is crazy, all the stop losses are hit within the next 2 candles while i used to wait for TPs to be hit overnight. Looks like all long thick juicy candles that came up this week are all intended to stop me out.

This is madness, i experienced this shit before, yes.. But this week's is much worst. EVERY SINGLE TRADE. Feel so lost, where did i go wrong... Luck? Timing? I know that no setup guarantees a 100% hit. But what are the chances that i got in all the losing ones and missed out all the winning ones?? hmmmmmm i suspect someone put a curse on me.. But a curse that can move the market against me?? hhmMMmmmm.... Doubt so...

Hopes shattered... Confidence rock bottom, went underground and reach the core of the earth. ArghhhhhhHHHhhH MY PRECIOUSSSSSSSSSSSssssssssssssssssssssss....

F*** it.. im gg to sleep.. not gg to look at the f***ing chart. fcukkucufhdfufkcckufckkcufkcfcufck

Faith put to the test



Bottle

A New Post After Release.

Yes, released from the grasp of Diablo 3. No jail or rehab whatsoever. Im no criminal, am no addict... Addicted to trading yes but...... Anyway~~~

Like Black mentioned earlier, we were consumed by Diablo3. As expected. Havent been able to squeeze time for blogging amidst the tradings gamings and working. Its crazy how this game grips so tightly on 2 full grown male adults of the human species, causing them to be seated in from of their computers for 10s of hours a day. We were never old. We can still game like hardcores. Well, its not like this game is really that fantastic anyway.. Actually we are both quite disappointed by some aspects of this game.. It could be that we waited this game for more than a decade, we are so attached ot it.

Alright enough of the game already. Initially before the release of the game, i had visualized myself getting so hooked up by it that im gg to lessen or neglect trading so much. Surprisingly no... mayb for the first few days after the game release, yes. But there after, i have been trading as per normal. The amount of trades i made a day(provided there is a setup) remains the same.

I wonder to myself, why? Spent sometime thinking about it as well. I just cant take my mind off the chart during weekdays(even when im gaming). As for my previous post on gaming to provide a good distraction from my trading, it really worked. When there is no setup, i get back into my game and never looked back. Same goes for entering a trade. But at least with the game, i wont be so looking forward to weekdays during my weekends like i used to. It keeps my mind occupied. Subconciously, the goal of being successful in trading.. the freedom that it can offer kills everything else in the path...

^^^^^MY TRADING DESIRE ^^^^^

^^^^^MY GAMES & OTHER HOBBIES THAT KEEPS MY MIND OFF TRADING^^^^^


Well, having said that... it maybe helpful to you or you or him or she or it who have the same problem as me in or out of trades. Try to find a hobby or something that can take your mind off trading for abit. Whenever there is no setup, simply dive into that thing you love doing. It may help get you out of some unplanned bad trades, unplanned or impulse exits. I've tried it first hand. LOL. It kinda works.

Trading have been relatively well lately, still trying to achieve Nirvana in trading. Ignores the losses and winners. As long as i stick to my setup, i shall see GREEN!!!!

GOODLUCK TRADING FOLKS!!!

1% inspiration, 99%perspiration.
Bottle

Monday! YayYYyY

O its Sunday... Monday finally... I know i sounded wrong, but i shall no longer deny that ever since i started trading, im looking forward more to weekdays than weekends. Or should i put it this way, weekdays aint that dreadful as it used to be. The problem is, i can only say it out LOUD here in this blog.. because i believe i am not the only one feeling this way. Try telling that white collar guy at your bus stop on a blue Monday morning.

If you still dont get what i mean.. Well, market's opennn on MOndayYYyYY.... All the excitements bla bla bla..
I guess they are right, passion/interest is really important.

O and one more thing! Black and I are so looking forward to the release of DIABLO 3!! HOLYyyYYy..... and we have already pre ordered our copies of it already. Mine? I got it for free... my girlfriend bought it for me. She doesnt know anything about games, but she know im so into it, she decided to buy it for me.. So sweeeeeeet. But she have NO IDEA what she got herself into....

So true...~~ Im so dead if she reads this. MUaHAHahHAHHAaAAHHA~~

Anyway, WTF has DIABLO 3 gotta do with Forex Trading? Of cause it does, did i mentioned before that gaming is one of the few ways i find very effective against emotional trading? At least to me though. It takes my mind off trading, it keeps me disciplined enough to follow through my trades.

Going into game right after i entered trade (after setting my SL n TP), prevents me from looking at the chart too much.Just imagine the emotional stress of looking at prices going up and down. Hence, the trade will be safe from early exits or profit taking. Or when setups are not triggered, i can remove my eyes from the chart and prevent myself from entering trades just because i got the urge to do so. Gaming gives me distractions, in a right way.

2 more weeeekkksssssss................................................................

Which cHar to uSe which ChAr ??? which WHicHH whIChhHH?????
Bottle

The Lack Of Sleep. True Story.

Above image is a reply to Black's earlier post. Its a true story. LOL. I'm envious of Black's life now. Admire his courage to try to achieve it. Me on the other hand, is always thinking of going the same path, but afraid of being financially insecure. Thats the thing yea? We all have our dreams, but how many of us are willing to risk it all to pursue it?

Nonetheless, my time will come! Sooner or later.. But i'll make sure my daytrading days will be more exciting than just waking up and doing same thing all over! I promise to have a haircut every now and then to avoid having urchin's hair.. LOL

Anyway, some thoughts that i would like to share.. its one thing that i think all traders, at some point of their journey faced.. be it pro traders, wannabes, going to bes, greens, reds... bla bla. Any category! THE LACK OF SLEEP!


Not sure about u, but i remember days when i went in position and targets are not hit within certain period of time and is forced to put it overnight... every now and then in the middle of the night, woke up and check hows my trade going.. No matter how sleepy i am, i will still be able to get myself focus and check out my trade. SURPRISINGLY. Its like 3am or 4am in the morning. And i gotta wake up @ 7am for work later on.

Or going into the night with a floating loss position? Waking up every hour to check if my trade came back to green zone... I even dreamt (TELL ME I'M NOT ALONE!) of my postion hitting target profit! Only to wake up and see -23RED on my screen... F*ccCCCkKAAaAAAAAA!!!

How bout sticking your eyes to the screen and waiting for that perfect set up that u have planned since a few hours ago. Watch watch watch and watch the price into the late nights..
Its quite bad for me as my laptop is just right beside my bed. I've also got my forex app on my iphone4. It just makes things worst, i wake up every now and then to check out my trade thru my phone. So convenient! =D

Nights and nights of praying to as many gods as i can think of in front of my laptop/iphone4 in the middle of the night 3am! Now i that i mention it, i must have looked so stupid... Hurhurhurhur...

Recently came by an article on this issue, the lack of sleep. And how important it is. I believe we can google and find many useful informations about it. The benefits and stuff like that. But its this one article that caught my attention. Ranjan Das, CEO and MD of SAP Indian subcontinent. (Click on his name for the link on the article.)

He is a high flyer, he got almost everything we wish for. A good career, loads of money.. dreams bla bla bla.. you name it and most probably he got it. He is still young @ 42 years old.. most probably he still got so much that he wants to do. So much to look forward to, so much things he wanna see, would like to go... bla bla bla.. He worked hard for it and now its time to enjoy the fruit of his success,but its all taken away from him in an instant. Life's cruelty. Truely feels sad for him and his family.

We can have all the material things that we want in life. But what are these without our good health to enjoy it? Life is short, yes. Life is unpredictable too. We never know whats gonna happen tommorrow. Dare to pursue our dreams but not at the expense of our health and those who care for us. So now, if you slept less than 6 hours. Please go get some now. AND! try to hit your daily quota of 6-7 hours of sleep yea..

Else, WE WILL DINE! IN HELL!!!!!!!!

Bottle

Stars, Spiders, Long Legs bla bla bla

Spotted some bearish candlesticks on 4H chart.. not sure if it means anything. But it does seems like bearish bias. So, action speaks louder than words! IM IN TRADE! LOL. Did a Short @ 1.3328. SL @ 40pips away & TP @ abt 40 to 50 pips away. Shall amend if there is difficulty in achieving it.

So, will TP or SL be hit first... anybody betting? LOL...
Results will be posted after it ends.


-UPDATE- Fail... Stoploss hit. Market is too choppy and kinda ranging.
-40 pips , +100 experience.

Bottle

Does it remind you of yourself? Just for laugh....

Or is it just me??? =(


Bottle

When EVERYTHING doesnt go your way.

Guess its really hard to "grow" out of this shit. EVERYTHING just goes wrong..
The feeling of "the market is watching u and doing everything against u" is here again... For fuck sake, this is like the countless times this month.. and its like only halfway through.

Have u ever been through times when u studied the chart and went SHORT, some analyst says should LONG. Result : Stoploss. Nevermind, i may have overlooked something here. Let it be.

Next trade, studied the chart again and went LONG, some analyst says should LONG. O yea, finally someone agrees with me. Result : Stoploss. Nevermind, the analyst suck and i suck too.

Third trade, same... studied the chart again, went LONG, some analyst says go LONG. O yea, once again im not alone... Result : Stoploss. Fuck.........

Fourth trade, still focused... studied the chart, went SHORT, same old "some analyst" say should go LONG. Result : Stoploss. .................



WHAT THE FUCK EVERYTHING I DO IS WRONG!!!!


Yea now its trending these faces... so im just going along. BUT!!! That is really how i felt when this kinda shit happens. HAVE THE GODS NO MERCY????!!!!

On top of all these, i've been following my "system" for a couple of trades. 4 trades to be exact. I got whipped, with 2 stoploss hit and 2 breakeven. Then comes the 5th one that i missed out due to work commitment. IS THE ONE THAT HITS TP IF I TRADED!!

Once again......



There is more, trust me... but i shall not taint this blog with my negativity. There is still hope. Have faith!


Bottle

3 Months into 2012

3 months into 2012 already! Time really flies, we r nearing the predicted 12122012 end of the world. LOL. I wonder if that day really is the end of the world, how would the guy who just strike 10million dollars lottery feels, Prize Collection Date : 12/12/2012. Or that kid who slog 3years of his life n finally gets to graduate. Graduation day - 12/12/2012. Sucks for sure.

Anyway, these few months my account has been like a roller coaster ride, as usual. Up n down up n down n im still at square one. I wonder if its just me, i always felt that i will make it someday and becomes a full fledge trader! HAHA! Even when trades hit stop loss, i felt like i've learned something from it and as long as i doesnt repeat it, i will reach my goal sooner or later. But unfortunately, it seems rather abit late. =~( What if the day i really achieve my goal is the same day that guy strike his lottery n that kid graduating?? LOL

Some trades i did recently, quite interesting though, is on DOUBLE ZEROES as support and resistance. Scalping 10 to 15 pips at a time during not so violatile hours on smaller timeframes. Areas like 1.3400 and 1.3300. Glad i didnt trade during Bernake's speech. His is like the voice of the emperor. One word one cough or one fart and the whole market shooks with it. Pretty scary what one man can do eh? Its best to shut ur pc and sleep when these important figures are giving speech.

Best of luck to all of u out there!

Bottle
Be happy with what we have. Nothing feels better than being satisfied.

Reality of life.

The day we smash our head into the wall together. Hand in hand.

Bottle

USD/CAD down but not out....

A cold chilly night, im bored... itchy.. urge came.. urge to click n trade. Never been able to totally cast this bad habit out. It has been alot better though.

So when shit happens, u can only hope that the damage can be minimized, better still... profit from it. But tonight isnt going to be a easy night.

The above printscreen image maybe the ugliest u have even seen, im sorry but im still very much a [accessories >> paint] user.

Time is 2000 local time, 2 datas pointing weakness in CAD... thats when i went in LONG on USD/CAD, entry level @ "1" . After entry, it has been hovering around that area...

Then came 2130 local time, green datas for USD, it confirms my believe that this pair with go higher... BUT!!!! Prices plunge down for dont know what fciasjcsax reason, and end that 5min session with a long shadow.. Sadly, my stop loss got triggered as a result. Thats for "2".

Went LONG again, on "3", targetting around "4" area.. TP hit, profitted 5pips at the end of the day.. Moral of the story? Market doesnt care about ur predictions or whatsoever, its merciless i guess??

But im happy to end green for the day after a scare at the start...

Bottle

The Great Jap Intervention !

The Great Jap Intervention, yes and some not so great trade from myself. =~(

Anyway, first of all i would like to thank Black for his reminder on the above mentioned... all because of him.. i made a whooping 60pips. In the time period of walking from a bus stop to the nearest train station... Thats like 100++ metres... So ya thank you~~~~~

Ironically, this intervention thing also made me lose more than double of what i profitted... Blame it on my virginity of trading such event perhaps? Or more like because im greedy??

Well due to the fact that because im using mobile trading, i kept my size half of my usual. 60pips profit in matters of minutes... YAYyYYYyyYY POP CHAMPAGNE!!!

Then when im home... not sure why, i keep having the thought that the Jap Intervention will continue, so i went in again using my usual lot size (which is double of my initial profit). It straightaway plummet down right in my face!

Thats not the end.. i went in again at some FIBO level for EUR/JPY pair.. i have no idea why i did that.. its crazy i know.. the results? CRAZIER... i shall not go into detail for this trade. its humiliating~~~~~~ Im shy~~~~~~ Ashamed~~~~~~~

Yes i shouldnt be commiting this kinda mistakes... Imma write it down in small pieces of papers and stick it everywher to remind myself of this fateful day..


Stay Silly, Stay Thirsty
Bottle

Again Again!~!~!

Raining cats and dogs and birds right outside my window. Time checked @ 2000H local time again. Opened up browser and found 3 USD major news. ALRIGHT!!!!!

Same routine, i abandoned my desktop and my Final Fantasy 8, power up my laptop... Go for a toilet break and did a last analysing of the market.

Same method used as the previous post on newstrading, 5minutes(as above image) and 1h in uptrend for EUR/USD while downtrend for 4h timeframe. So preferably im looking for bad USD major news result. I WANT TO SEE RED!!!!

2030 local time, news out.
Core Retail Sales RED
PPI GREEN
Retail Sales RED
and one medium impact news (cant remember what issit) RED

EUR 3points + 1point for downtrend VS USD 1 point for green news.

Went LONG as shown in image, that big green mole is my entry, red one is my exit. My exit is based on a 4H timeframe Resistance. OOPS i just realize that big green mole-like thing should be higher, at around 1.3710 instead of 1.3704. Sorry im lazy to go edit and post that picture again.. LOL

Im kinda lucky though, my exit was very near its high for that period... Else i would have been stopped out @ breakeven before i can hit my TP.

+34pips.

3rd time trying newstrade.. as like previous few trades, very exciting, LOL. Need more tryouts though. This green makes my dayyyyyy... though its abit late already, anyway~~~~~

THANKS FOR LOOKING!

Regards
Bottle

Lets fly and reach for the stars! Hand in hand, toe with toe, neck by neck bla bla bla bla

Im still alive n trading...

Long time no see... yes im alive n still trading, no i didnt give up.. LOL.. Lets get down to business.. Good things must shareee!!!

Was playing my old school Final Fantasy 8, stucked at a quest and realize its 8pm local time... It means news news news...

Abandoned my desktop, power up my laptop n found out that RED news @ 830pm.. Went for a shit, clear my bowel n prepare for glory!!!!

829Pm standing by my laptop, turn down the volume for my Final Fantasy 8.. i can fantasize it later... Lets watch the market... TA DAAAA, EUR/USD downtrend at 1Hr timeframe and results out for 2 USD major news... 1 green 1 red... US Trade Balance = Green and Unemployment = Red.

So the score now is 2 points for USD and 1 point for EUR. USD win... If u r wondering what points im talking about? Let me explain, 1 point for being downtrend in EUR/USD(technical) and 1 point for Green on a major news... That sum up for USD. 1 point for Red in major news, thats for the EUR.

So 2 to 1.. i short on EUR/USD pair, managed to nip in +27pips. Thats Green for me and im a happy man... Not saying that the way i trade with the above method is correct, but i hope it makes u think. Well, if i stayed longer i could have hit about +40pips, but like i said, im not totally confident with this system as well... My settings is like SL20 TP 30 Breakeven 20.(pips)

I shall try more of these, its exciting...

PS : - The above image shows my entry in Green and exit in Red, is just a rough gauge.. Sorry i was lazy to go pinpoint the exact pricing i went in... I just wanna show that it is in downtrend according to technical analyse i've performed.

Regards,

Bottle

Guerilla Hit and Run and Smile and Cheer!

Been a nice few weeks back, gambling pokering trading having fun etc etc... Just like Black mentioned earlier. Black is a total poker addict, LOL. Whereas for me, i only do weekend "live" pokering with him and a bunch of our friends. Who knows in future i may turn addict too? haha, its fun i have to admit, the thrill n suspense... im kinda falling in love with it. Hur hur.. But as for now, im still a very forex trading dude.

Did 3 trades during those period, results were positive... fortunately.. LOL. The images below tells my story.



Picture shows EUR/JPY pair. Did a LONG trade on a pullback as pointed by the RED line. 3 horizontal line each representing my SL, entry point and TP.

This trade ended up with a +1 pip. Due to my cautious nature, i put my SL to breakeven after gaining an unrealize profit of 30 pips. The price fall back and hit my breakeven and went up -.-
Perhaps i should just let it run? Well, past bad experience makes me come out with this move.

Long for this EUR/USD pair.. Long on retracement after a fall on price. Same as above, RED line points to my entry and 3 horizontal line shows my SL Entry and TP level. TP hit for this case. It would have been the same result as my EUR/JPY pair if i had the time to pull up my SL to breakeven. Luckily, i did not and though the price did went back to - a few pips.. it went back up and hit TP. +30 - 40 pips i think? cant remember.

Long GBP/JPY pair, this is one of the more preferred type of outcome. Straight forward, no slippage no scares no pullback. Upon entry at RED line pointing, price went up and never looked back. Comfortable +40 or more pips.

O, forget mention that my entries are based either on 4H or 1H. Whichever resistance/support is nearer to price. SL would be max 40pips or last high/low. TP at last high/low or resistance/support whichever nearer.

Hope these helps!!

Pa Pa Pa Pa Pa Pa Pa Pa POKER FACE!~!~ MUM MUM MUM MUMmmMMm~

Bottle

The Good Lost

GBP/JPY. 4Hour time frame. Chart and circles again... As the title says, this is a failed trade. Flopped. Lets get to know the circles. Yellow = My intented TP. Green = My Entry. Red = My Stop Loss. Blue = My loss if it were to happen months ago, to that old me who dont place Stop Loss.

Analysed the chart, a conclusion of a downtrend is what came to me at that point of time. U know, low lower than previous low and high lower than previous high. Same goes to the 50 and 100 MAs that signals downtrend in progress. Anyways, what i think is of no importance. We have to respect the fact that the chart is in no obligation to follow what we analyse.

Like anyone else, i was frustrated and angry at myself for this lost. I close the chart and stop trading for the day. Soon enough when im more calm, i start to think back what has gone wrong, is it myself or just part and parcel of trading.

Well i waited for retracement to 50MA(green MA), trying to do a pullback trading that i've been successful recently. But this time round, i wasnt patient enough to wait till confirmations of a fail rally at a key resistant price. I just go in at that price EXPECTING a fail rally to occur soon after, like before. To my dismay, price shot past the resistant level n went straight to my SL.

A lesson learnt with experience gained at least. And thankfully this time round, stop loss placed and only -55pips is suffered instead of the usual -100+ pips that im capable of coming up with in the past. LOL.

Trying to be optimistic perhaps?

-55pips

Bottle

Practice Makes Perfect

Practice Makes Perfect, it simply means the more you practice the better you will get.. at least thats what the explanation is for GoEnglish.com Idioms .

It suddenly comes to my thoughts one day.. u know, im a dreamer... always dreaming and particularly, Daydreaming. I believe im not alone though. We all dream to have a better life, that particular model of sport car, that dream vacation at some weird corners of the world etc etc, the list goes on and on. After some thinking, it comes down to only 2 possible ways i can thought of to make that dream comes true. Its either u earn with close to 5 digits figure a month (USD MIND YOU! NO RUPIAH NO YUAN!!) or being a super lucky dude who win any lucky draw even when u r chewing gum, holding that wrapper that says You won yourself a trip to bla bla bla.

Bottomline, blunt but true. Money

A Daydreamer, but one that got the drive to make them come true, like a handful out there, i picked up trading to fulfil that dreamy part of my life. Started reading on dudes who make it BIG trading and i really mean BIG. They are my idols. I told myself i wanted to be like them~!~!
After trading for 8 to 10 months, i find that i am still way behind them. Almost thinking that its impossible to be like them. Even till now, no significant progress. Slow i would say.

Whenever my mood got affected by a lousy trade, bad thoughts like shit im not going to make it big with this bla bla bla and all that negative stuff, i try to make myself feel better so as to go on this long journey to success.

I try to relish on the first day of learning to drive @ the driving center. Remember the first time trying to move off the vehicle like a pro? And keep failing and frustrating, feel like grabbing that instructor seated beside u by his head and yank it for not able to teach u the "holy grail" to driving?

How bout riding a bicycle? Being amazed at how adults able to balance themselves on just 2 wheels while going so fast?? U keep trying n trying, ur dad keep teaching n teaching... TADA!! Now u ride like a pro with just 2 wheels. 2 months ago u were amazed by how it is possible, 2 months later you r part of the impossible and thought nothing of it.

Both the above example are 2 of the simplest things that we can do. But that little boy who saw u riding a bicycle thinks that u r super cool! How the hell he balance himself with only 2 wheels so well? And maybe that teenager who just started his first lesson on driving, amazed by how smoothly u moved off while driving a manual car.

Both scenarios, first timers thinking what possible techniques that u possess and they did not. For me on the above 2 scenario, been there done that. But now, in trading, im the first timer. That little boy, that young chap.But I know whats the technique, PRACTICE. Though i used to be like that little boy before, seeking the holy grail/technique to successful trading.

Practice makes Perfect,. Can you remember how many trade u have executed already? Of all that SLs and TPs hit, all that analysing u did since day one? These are all practices. I cant remember how many trades i had so far, all i can remember is, most are bad trades........ =(
Lol, but at least i found out many bad habits of mine and try not to commit them again! (Thats comforting......)

So yes, to me, its really simple... Practice! Try to keep going for as long as possible. For as long as u can go, the more u can trade and every trade is a practice session. No matter the amount. My progress since day one hasnt been significant, but definitely slowly and steadily. One of the most obvious yet forgotten improvement is the amount of trades i execute a day. I used to trade so much like 5-10 times a day. The urge to trade and fail badly. This bad habit is starting to disappear as far as im concern. Now i trade once a day or nothing! Comes to me so naturally that i forgotten about it till i review my monthly trades.

Keep doing something over and over and over and over and over again. You can only get better and better and better and better at that something.


Practice Makes Perfect
Bottle

Part 2 of my Comeback into trading

Yes as the title suggest, this is the 2nd part of my Comeback into the trading society.. Its goooood to be back. Split my entry into 2 so as not get F*** by anyone for being looooonnngggg winded. 1st part will be whats going on in my mind from the day of my comeback and happenings while part 2 will be one of my most recent trade. Ok lets get it on!!!!!!!!

Pair : EUR/USD

Timeframe : 4H and 1H

As u can see from the picture, the 100SMA is going up.. So i suppose Mr Trend our friend is heading up. The Red circle is my signal. Well, to me it(candlestick) looks like a struggle after a rally by USD. The candle after that confirms my believe. The Yellow circle marks my entry base on 1H chart, its a 5SMA on that 1H chart. Last but not least will be the Blue circle, my TP. Base on DOUBLE ZEROES. 1.3400. SL will be 50 pips down from my entry, its the low of my red circle signal. I believe that prices that close below that means my forecast / prediction or whatever is wrong.

Profit : 65pips.

Patience... Root of success.

Bottle