by Admin on October 5, 2011
How much patience do you have when you trade?
Needless to say, when you have an open trade and letting your profits run, you have to be patient not to close the trade until the market said so.
when you see profit on your open trades but knowing that it can still result to a loss, is just another test not to close your trades early.
So far, the most difficult test I encountered is the loss. Multiple losses can test your patience. 5-6 consecutive losses while following your system is just like a…
Trust…trust…trust…no, not thrust… 
Although I anticipate multiple losses with the system I’m currently using, I just experienced a number of losses which broke the record of those consecutive number of losses I had.
So again, just enjoy.
by Admin on September 4, 2011
So what happened after exactly one year of trading live account in Forex?
I failed to reach my goal of 100% of gain from the total trading capital I deposited. So how much gain or loss do I have after 1 year?
Well, it’s less ~20% from my goal.
Want to read some stories? Then read on…
So few months before, I decided to change my thinking in trading. Wait until a drawdown of 50% in my account before I change anything from the “rules”.
But voila… [click to continue…]
It seems that I missed updating this blog as often as I should do. But anyway, let’s get back to the topic
When I first started trading, I only think about the “entry” of my trades; and the T/P has no plan. But I do have a S/L.
Now, almost a year after I started live trading, my account is playing between loss, profit, loss, profit…In short, break-even.
Still good, since my losses can still be covered by profit. But all the profit will be wiped out in a couple of trades.
50% winning rate?
So I started to scour for “higher” probability winning entries…
Studied more technical analysis, fundamental analysis, you name it.
I believed that if I have a higher percentage of winning entries, I’ll be getting more profit…
That was then…
Now…
I’m trying to test to have lower percentage of winning entries but still will result to profit…
Maybe 20%-40% winning rate?
So what’s the best entry for that? [click to continue…]
by Admin on December 31, 2010
Okay, let me share to you guys a very short recap on for this year’s forex journey.
- Started to go Live forex trading this year.
- Studied different technical analysis indicators.
- Bought forex books for technical and fundamental analysis.
Hmmm…
So what are those technical analysis indicators? Let me skip those very popular western indicators like RSI, Fibonacci, etc.
Currently I’m studying Ichimoku analysis, I believe that this indicator promises a lot to those who are using it. If you’re still unaware of it, you can go to www.kumotrader.com.
Candlesticks, I shifted from Bar analysis to Candlesticks. Why? I find it easy to read candlesticks.
Anything else??? hmmm… [click to continue…]
by Admin on December 4, 2010
Let me give you some of my experiences when I have an open trade.
Most probably, you’ll have your T/P and S/L set before you open your trade. I do.
When I have my open trade in loss, I won’t cancel the trade until the S/L was reached unless the price is staying in consolidation period for quite some time. But when I am on the profit side of the trade, I would “manually” take the profit even before the target T/P is reached because of the thinking that the price might suddenly reverse.
Anyways, I think I have to change that mindset and be more confident when entering the trades. Because when I manually T/P without any basis, I’m risking the trade more than I should (Risk/Reward Ratio). [click to continue…]
by Admin on November 27, 2010
Have you heard about those traders who are talking about reading price action?
Well, as far as I understand, it’s like reading where might the next movement of the price will go.
There are numerous tutorials you can find on how to read price. But I want to share to you where I started.
If you are aware of the forum forexfactory.com, there’s a thread that started last 2005 which focuses in reading price action using bars. The thread starter is well-known with an alias of “James16″. [click to continue…]
by Admin on November 12, 2010
Hi guys, what do you see from the above image? Do you think it’s Bearish? Well, the moving averages are telling that the pair is having a bearish sentiment.
Well maybe it’s currently in range but anyways, once the price has touched the EMA 10, I think we can start to sell the pair.
Btw, I can’t wait that long to enter the trade so I opened up my Demo account and entered a trade. Well not bad, since I’m still tweaking this strategy. And also, the current candle is not yet on it’s closing time, we won’t know(based on the image), on where would the price will close.
Anyways, enjoy!!!
Update: 17-Nov
The price has been in a consolidation period for quite sometime. Although most of my indicators are telling it is still bearish, I cancelled the trade, with minimal loss, because of too long consolidation. Anyways, we can wait if the price will continue to become bearish.
by Admin on November 6, 2010
Are you a Technical trader or Fundamental trader?
Currently, I am learning and using technical analysis in every trade I enter.
Did you notice anything from the first line?
It’s the word “learning”.
I feel that anyone who do trading must continue to learn different things in technical analysis whether he’ll be using it or not. Well, I do.
You may ask why. [click to continue…]
by Admin on November 6, 2010
Before anything else, this blog is created to share some of my insights in Forex trading world.
As you may know, the front page of this site contains a review of forex trading robots. If you’re a fan of these robots, go ahead to use them but as of now, I am one of those trade in forex manually.
I will update this blog as often as I can with colorful pictures , for you to get some new ideas. Hopefully good things…:D
Okay, to make things clear, this blog is for manual trading and the front page is for hardcore forex robot traders; needless to say, I may not discuss automated trading here in this blog.
Anyways, let’s get started…
