We are targeting the 106 - 105.50 area so we will close the trade when it reach the area or move th SL very tight!
Move SL at break-even when price moves 60 pts below.
Thursday, 9 June 2016
TRADING PLAN - USDJPY 1H FOREXSIGNAL 30
Currently on new structure low.
We are targeting the 106 - 105.50 area so we will close the trade when it reach the area or move th SL very tight!
Move SL at break-even when price moves 60 pts below.
We are targeting the 106 - 105.50 area so we will close the trade when it reach the area or move th SL very tight!
Move SL at break-even when price moves 60 pts below.
TRADING ANALYSIS - EURUSD FOREXSIGNAL 30
Good day everyone.
Expectation for EURUSD change to new structure low
And now have a selling position. -40pts
Sell at 1.1350
Expectation for EURUSD change to new structure low
And now have a selling position. -40pts
Sell at 1.1350
TRADING ANALYSIS - USDJPY 1H
Ok let's take an overview of the USDJPY on 1H timeframe.
The market is still bearish and targeting the 106.00 to 105.50 area which is also a good opportunity to buy since it holds the strong support area.
EMA 200 is still downtrend so we will always look for opportunity to sell.
105.50 area is a good opportunity to buy we already put buy limit on this area.
The market is still bearish and targeting the 106.00 to 105.50 area which is also a good opportunity to buy since it holds the strong support area.
EMA 200 is still downtrend so we will always look for opportunity to sell.
105.50 area is a good opportunity to buy we already put buy limit on this area.
Break-above the EMA 200 will switch our expectation to NSH
107.70 is our nearest resistance.
Our parabolic sar EA is still on SHORT only mode.
Wednesday, 8 June 2016
TRADING RECAP AND PSYCHOLOGY - FROM 60PTS TO 10PTS
Last night before I sleep i managed to break even both position at 10pts
USDJPY 1H PARABOLIC - SELL LOCKED IN 10PTS
USDJPY 1H FOREXSIGNAL 30 - 10PTS
I repeat before I sleep it was 60pts in my favor so X2 = 120pts all
But the question is do we need to close the position to pull in sure profits? Or let the market do what it wants and the most important thing is we protect our capital.
Ill be honest, sometimes a professional trader feel this way. So lesson now is FOLLOW RULES RELIGIOUSLY. Lets go back to basic rule. 1st goal to break even, 2nd locked in some profits, 3rd agressively locked in profits. It is not how much we made today THE MOST IMPORTANT THING IS WE FOLLOW OUR PLAN, WE PRESERVE OUR CAPITAL.
FOLLOW YOUR PLAN
FOLLOW YOUR RULES IN TRADING
FOLLOW YOUR RULES IN TRADE MANAGEMENT
FOLLOW YOUR RULES IN MONEY MANAGEMENT.
Write down your plans and rules before trading and COMMIT TO THAT PLAN WE YOU ENTER THE TRADE.
So that when you enter the trade you know what you will do win or lose. It is not how much you made. It doesnt make sense if you make money and you didnt follow your plan. Because in the long run it is not profitable. It is not a trait of a successful trader.
USDJPY 1H PARABOLIC - SELL LOCKED IN 10PTS
USDJPY 1H FOREXSIGNAL 30 - 10PTS
I repeat before I sleep it was 60pts in my favor so X2 = 120pts all
But the question is do we need to close the position to pull in sure profits? Or let the market do what it wants and the most important thing is we protect our capital.
Ill be honest, sometimes a professional trader feel this way. So lesson now is FOLLOW RULES RELIGIOUSLY. Lets go back to basic rule. 1st goal to break even, 2nd locked in some profits, 3rd agressively locked in profits. It is not how much we made today THE MOST IMPORTANT THING IS WE FOLLOW OUR PLAN, WE PRESERVE OUR CAPITAL.
FOLLOW YOUR PLAN
FOLLOW YOUR RULES IN TRADING
FOLLOW YOUR RULES IN TRADE MANAGEMENT
FOLLOW YOUR RULES IN MONEY MANAGEMENT.
Write down your plans and rules before trading and COMMIT TO THAT PLAN WE YOU ENTER THE TRADE.
So that when you enter the trade you know what you will do win or lose. It is not how much you made. It doesnt make sense if you make money and you didnt follow your plan. Because in the long run it is not profitable. It is not a trait of a successful trader.
TRADING RULE - CHAOS THEORY
EMA 200 will be our chaos boundary.
If price approach this area, this will be a good opportunity to buy or sell. It doesnt mean you have to jump in immediately. Always remember the bar by bar analysis in entering the market.
At any system you are trading, it doesnt mean you have to enter immediately. Analyse how the bar reacted on that price area.
If price approach this area, this will be a good opportunity to buy or sell. It doesnt mean you have to jump in immediately. Always remember the bar by bar analysis in entering the market.
At any system you are trading, it doesnt mean you have to enter immediately. Analyse how the bar reacted on that price area.
TRADING PSYCHOLOGY - SET AND FORGET
Good morning everyone!
Today we are going to discuss one of the technique that will improve our trading and remove all emotions during trading.
SET AND FORGET!
Yes you set your rules, you enter the trade and let your trade plan works.
This what i am doing now. Before looking at the chart the very first thing to do is look at daily time frame + 200 EMA.
THIS WILL BE OUR BAROMETER. If bars are below 200EMA then we are looking for a sell opportunity. If the bars are above EMA we only look for the best place to buy.
After you enter the market with SL and TP. Close the platform for 4 to 5 hours.
1ST GOAL is to break-even.
2ND GOAL locked in profits.
3RD GOAL aggressive locking profits
4TH GOAL tight stop loss when your above to reach a strong support and resistance.
Today we are going to discuss one of the technique that will improve our trading and remove all emotions during trading.
SET AND FORGET!
Yes you set your rules, you enter the trade and let your trade plan works.
This what i am doing now. Before looking at the chart the very first thing to do is look at daily time frame + 200 EMA.
THIS WILL BE OUR BAROMETER. If bars are below 200EMA then we are looking for a sell opportunity. If the bars are above EMA we only look for the best place to buy.
After you enter the market with SL and TP. Close the platform for 4 to 5 hours.
1ST GOAL is to break-even.
2ND GOAL locked in profits.
3RD GOAL aggressive locking profits
4TH GOAL tight stop loss when your above to reach a strong support and resistance.
TRADING ANALYSIS - USDJPY1H PARABOLIC SAR
Our parabolic sar EA open its trade and manage to reduce risk to -30
Our expectation is new structure low.
Our expectation is new structure low.
TRADING ANALYSIS - USDJPY 1H FOREXSIGNAL 30
During US session.
We manage to locked in +20pts
We are looking for price to break thru the 106 to 105.50 area as this is the strong support area on daily time-frame.
WE WILL MOVE THE SL TIGHT WHEN PRICE IS ABOUT TO APROACH THIS AREA AS OUR RULE.
We manage to locked in +20pts
We are looking for price to break thru the 106 to 105.50 area as this is the strong support area on daily time-frame.
WE WILL MOVE THE SL TIGHT WHEN PRICE IS ABOUT TO APROACH THIS AREA AS OUR RULE.
TRADING ANALYSIS - USDJPY 1H PARABOLIC SAR
We already switched on again the EA.
We set the EA to short only mode
Still the Parabolic Sar EA has no open position.
Yesterday we closed a -31.6pts
And today we just stopped out at break-even +9.32
TRADING ANALYSIS - EURUSD 1H FOREXSIGNAL30
Expectation is still new structure high but still we don't have an open position.
TRADING ANALYSIS - USDJPY 1H FOREXSIGNAL
We already started using forexsignal 30 on USDJPY 1H and we will use it together with PARABOLIC sar
Entry @ signal usually at 1500H asian time
SL - -35pts
BE - when the price moves further @30pts
Exit - @SL, @ locked in profits, @ when new signal occur
Tuesday, 7 June 2016
TRADING RULES HOLDING TIME ON A SUPPPRT OR RESISTANCE
When we see that a certain level is holding the price for a long time. It means thie area is being respected by buyer and seller.
When you have an open position in this area and you are holding it for a long time. Just get out, it better to take more profits than being stopped out. There will always be another trade remember that
When you have an open position in this area and you are holding it for a long time. Just get out, it better to take more profits than being stopped out. There will always be another trade remember that
TRADING RULES
When you have an open position and you are trailing your SL.
Move the SL tighter when you're about to approach a strong support and strong resistance.
Move the SL tighter when you're about to approach a strong support and strong resistance.
TRADING ANALYSIS - STRONG SUPPORT AND RESISTANCE AREA
Strong support and resistance area, especially on daily timeframe must be watch carefully.
I manually stopped my EA based on my analysis that USDJPY will still have the room to go down the strong support area 105.5 to 106.0
I manually stopped my EA based on my analysis that USDJPY will still have the room to go down the strong support area 105.5 to 106.0
TRADING ANALYSIS - USDJPY 1H PARABOLIC SAR
Good morning everyone!
Today we close a position we are stopped out taking -34pts
We are happy we followed our plan, we cut our losses when the trade is not profitable.
Our main goal always is to protect our capital, second trade @ break even, then locked in and be aggressive with profits.
Our expectation for USDJPY is still new structure high.
As of opening or asian session no open position.
Today we close a position we are stopped out taking -34pts
We are happy we followed our plan, we cut our losses when the trade is not profitable.
Our main goal always is to protect our capital, second trade @ break even, then locked in and be aggressive with profits.
Our expectation for USDJPY is still new structure high.
As of opening or asian session no open position.
TRADING ANALYSIS - EURUSD 1H FOREXSIGNAL
Good morning everyone!
Today we close our position on EURUSD 1H we are stopped out and we manage to exit with +58pts
Our expectation is still new structure high and currently we don't have an open position.
Today we close our position on EURUSD 1H we are stopped out and we manage to exit with +58pts
Our expectation is still new structure high and currently we don't have an open position.
TRADING PSYCHOLOGY - EVEN SUCCESSFUL TRADE HAVE DRAWDOWN
Good morning everyone.
As expected last week after we hit a 150 points I am expecting a drawdown. Lately 2 consecutives drawdown happened and its ok.
As a professional successful trader drawdown is part of the game.
It is more interesting that traders like jason stapleton and akil stoke have a 5 month or 20 weeks drawdown and sideways equity. It is really interesting to know that. They are professional and doing it for years and.psychologically they know they have edge in trading.
That is why trading must not be a source of income. Trading your system must be a year and SLOW BUILD YOUR ACCOUNT!
SLOWLY BUILD YOUR ACCOUNT!
That is for my opinion.
As expected last week after we hit a 150 points I am expecting a drawdown. Lately 2 consecutives drawdown happened and its ok.
As a professional successful trader drawdown is part of the game.
It is more interesting that traders like jason stapleton and akil stoke have a 5 month or 20 weeks drawdown and sideways equity. It is really interesting to know that. They are professional and doing it for years and.psychologically they know they have edge in trading.
That is why trading must not be a source of income. Trading your system must be a year and SLOW BUILD YOUR ACCOUNT!
SLOWLY BUILD YOUR ACCOUNT!
That is for my opinion.
TRADING ANALYSIS - USDJPY 1H PARABOLIC SAR
On our parabolic sar USDJPY 1H
Our expectation is still new structure high
Our SL - is still on -40pts which logically placed.
107.70 level was broken giving a momentum signal for bullish to enter USDJPY.
TRADING ANALYSIS - EURUSD 1H FOREXSIGNAL
Good trading day everyone :)
Our Forexsignal 30 still manage to locked more +58 pts
Our expectation is still new structure high.
Our Forexsignal 30 still manage to locked more +58 pts
Our expectation is still new structure high.
Monday, 6 June 2016
TRADING PSCHOLOGY - WRITTING DOWN TRADE PLAN AND FOLLOW IT
I want to share a very simple technique in trading. A simple writting down of trade plan or how you analyze the market will improve trading a lot.
When i started to write everything before i open my platform i am confident and on track on what im going to do.
It is just like going to a war with war strategy. Thinking without writting the trade plan and engaging in a trade is disaster. You will be mislead when you approach your trade without a written plan. Without a trading plan you are about to trade impulsively and ignore what you planned in your mind.
When i started to write everything before i open my platform i am confident and on track on what im going to do.
It is just like going to a war with war strategy. Thinking without writting the trade plan and engaging in a trade is disaster. You will be mislead when you approach your trade without a written plan. Without a trading plan you are about to trade impulsively and ignore what you planned in your mind.
TRADING PSYCHOLOGY - MIRRORING
Good morning traders Daddy MJ here.
Let us talk about the mirroring effect on our trading.
This is very simple, our brain has a neuro-mirror. Study shows that whatever we watch, read, or hear frequently is like planting in our subconscious mind.
That's why I reduce my time opening facebook. I find it useless, as more people now a days post negativity. They post non sense story they post garbage.
Everyday try to start your day with psycocybernetics practice. Then watch or hear podcast about stories or lesson from successful trader. I been doing this for years and i found it useful.
Take advatage of our technology to your advantage.
Youtube, podcast and spotify have useful resources for this mirroring technique.
I find it very important especially when you encounter drawdown. There must be someone who understand drawdown and how to overcome from it.
Let us talk about the mirroring effect on our trading.
This is very simple, our brain has a neuro-mirror. Study shows that whatever we watch, read, or hear frequently is like planting in our subconscious mind.
That's why I reduce my time opening facebook. I find it useless, as more people now a days post negativity. They post non sense story they post garbage.
Everyday try to start your day with psycocybernetics practice. Then watch or hear podcast about stories or lesson from successful trader. I been doing this for years and i found it useful.
Take advatage of our technology to your advantage.
Youtube, podcast and spotify have useful resources for this mirroring technique.
I find it very important especially when you encounter drawdown. There must be someone who understand drawdown and how to overcome from it.
TRADING NEWS - YELLEN SPEECH @12AM ASIAN SESSION
Ok let me clear this that we don't trade news. We don't care.
But as a precaution or protect our position it is better to move stop loss to break-even or locked in some profits or close the trade.
Yellen will speak today and the usual (high probability) effect to the market is good for USD.
But as a precaution or protect our position it is better to move stop loss to break-even or locked in some profits or close the trade.
Yellen will speak today and the usual (high probability) effect to the market is good for USD.
TRADING ANALYSIS - USDJPY 1H PARABOLIC SAR
On USDJPY our Parabolic Sar EA closed a +67 points trade.
Our expectation is still new structure LOW and currently on retracement.
Our expectation is still new structure LOW and currently on retracement.
TRADING ANALYSIS - EURUSD 1H FOREXSIGNAL 30
Good day and good start of the week.
Currently our EURUSD manage to lock in +46 points, our buy entry @ 1.1284 and SL moved to 1.1332
Expectation is still new structure high.
Currently our EURUSD manage to lock in +46 points, our buy entry @ 1.1284 and SL moved to 1.1332
Expectation is still new structure high.
Sunday, 5 June 2016
DADDY FOREX TRADER - WHY I DONT LIKE MY JOB BEFORE
Living in the Philippines and working abroad is financially good.
Since 1 US dollar = Php 45 (as of this writting), earning dollar is really a good income. But working outside the country is really challenging emotionally. Living away from your family, adopting to different culture are some of the challenges in this type of work.
Working at sea is really hard you have to stay in the middle of the ocean and endure different sea condiiton. I am just wondering how people see you as a millionaire or someone who has unlimited amount of money. They dont realize is that by the time they are on vacation they dont have source of income.
This cycle is endless. People go abroad works for how many months or years then took a vacation then loss all his savings.
He cant stay any longer and needs to apply again for another job. So this becomed cycle forever.
Thats why i break that cycle. As early as now you have the power to control your life! If you dont do something it will be cycle. If you just go with the flow then go with them. It's not hard you are just afraid for a change.
I love and enjoy forex trading right now.
Since 1 US dollar = Php 45 (as of this writting), earning dollar is really a good income. But working outside the country is really challenging emotionally. Living away from your family, adopting to different culture are some of the challenges in this type of work.
Working at sea is really hard you have to stay in the middle of the ocean and endure different sea condiiton. I am just wondering how people see you as a millionaire or someone who has unlimited amount of money. They dont realize is that by the time they are on vacation they dont have source of income.
This cycle is endless. People go abroad works for how many months or years then took a vacation then loss all his savings.
He cant stay any longer and needs to apply again for another job. So this becomed cycle forever.
Thats why i break that cycle. As early as now you have the power to control your life! If you dont do something it will be cycle. If you just go with the flow then go with them. It's not hard you are just afraid for a change.
I love and enjoy forex trading right now.
TRADING PSYCHOLOGY - BELIEVE IN YOUR SYSTEM BECAUSE NOBODY DOES
Good monday everyone!
Today i would like to share my personal experience when i attend a trading course.
It's a great experience meeting a guy who really made it to trading. One of my idol is Mark of FXCL.
We discusss basics of trading. It's a great routine to go back from time to time in trading.
Ok about the system i realize that each trader has a different style in trading. I am purely technical. Im aware of big news but I dont trade it.
I share my trading systen, but if you share it to other traders it is totally different.
You are the only one that believe your system because you are the one that back tested it. You are the one that will believe it..It's like your the inventor and you know it works because you tested it for many times. But just like othet invention you know there are weakness and you know you need to improve it.
As the developer of that system you know how when to put alarms or emergency stop or tripping device when the machine doesnt work.
We must think like this, whether we trade it automatically or trade manually. We know when there is something wrong, we know that we need to put stop loss or hit that close botton.
Today i would like to share my personal experience when i attend a trading course.
It's a great experience meeting a guy who really made it to trading. One of my idol is Mark of FXCL.
We discusss basics of trading. It's a great routine to go back from time to time in trading.
Ok about the system i realize that each trader has a different style in trading. I am purely technical. Im aware of big news but I dont trade it.
I share my trading systen, but if you share it to other traders it is totally different.
You are the only one that believe your system because you are the one that back tested it. You are the one that will believe it..It's like your the inventor and you know it works because you tested it for many times. But just like othet invention you know there are weakness and you know you need to improve it.
As the developer of that system you know how when to put alarms or emergency stop or tripping device when the machine doesnt work.
We must think like this, whether we trade it automatically or trade manually. We know when there is something wrong, we know that we need to put stop loss or hit that close botton.
TRADING RECAP - TRADING GAP MONDAY MORNING
:) Hello everyone today we start our trading by looking at the chart if there's a gap.
As planned if the gap is small we will not trade it.
And as you can see the gap is only 20 pts which from my stand point not worthy to risk for this trade.
The market opened at 106.53
One thing ive learned is to look at tradingview.com during weekend to see if there is some movement in the market. Because there are still big gap during weekend.
We are still have the expectation for new structure low.
And we managed to lock in some profits of +56 pts. We move our SL just above a resistance area.
As planned if the gap is small we will not trade it.
And as you can see the gap is only 20 pts which from my stand point not worthy to risk for this trade.
The market opened at 106.53
One thing ive learned is to look at tradingview.com during weekend to see if there is some movement in the market. Because there are still big gap during weekend.
We are still have the expectation for new structure low.
And we managed to lock in some profits of +56 pts. We move our SL just above a resistance area.
Saturday, 4 June 2016
TRADING PLAN - USDJPY
Ok, since we saw a big momentum last nfp friday and it close and manage to locked in +56points we are planning the Monday gap if there's any gap.
So we are going to plan ahead if this occut
1) Gap must be BIG! So it is worthy to trade gap. But if is small like 20 to 30 points it is not worthy.
2) If there's a gap for sure SL of parabolic sar will move and there's a high probability that it will be hit, so we will move it further since we know that after filling the gap the market will move on it's original direction.
3) If it is a really big gap we will close our trade, remember we are almost near the 106 area, a very strong support and resistance area that we are looking in daily timeframe.
So we are going to plan ahead if this occut
1) Gap must be BIG! So it is worthy to trade gap. But if is small like 20 to 30 points it is not worthy.
2) If there's a gap for sure SL of parabolic sar will move and there's a high probability that it will be hit, so we will move it further since we know that after filling the gap the market will move on it's original direction.
3) If it is a really big gap we will close our trade, remember we are almost near the 106 area, a very strong support and resistance area that we are looking in daily timeframe.
TRADING PSYCHOLOGY - A PROFESSIONAL TRADER HAS NEUTRAL REACTION ON WHATEVER OUTCOME OF THE TRADE
Good morning everyone!
It's a lovely weekend here in the Philippines, summer is over and there are some rain in the afternoon that makes the temperature cooler now compared with April and May season.
Ok on our lesson for today on psychological side.
As a trader we must change the way we react on the market. I know deep inside we feel some excitement or sadness depending on the result of our trade. But as a professional trader we must overcome this. I manage to control emotions and reactions like this and it improves a lot my trading performance.
So how do we overcome this? One is by minimizing our time looking at our chart and open position. Why? Because we tend to think too much when we do this. Try to snob the charts and trade result.
LEARN TO MOVE ON EACH TRADE AND SAY TO YOURSELF THAT THE NEXT TRADE IS A DIFFERENT TRADE.
Remember what we always said that each trade is totally different from one and another. Whatever system you use, it's just like a toss of coin "head or tail", buy or sell, long or short. There's only two way to make money in this business, no more.
Remember after winning that a draw-down will come, we don't know when but for sure it will come especially with parabolic system we experience draw-down after a big home run hit of 100 or 200 points.
When we loss we know that there is always trade to come as long as our capital is intact and we trade disciplined via our money management to protect or capital.
It's a lovely weekend here in the Philippines, summer is over and there are some rain in the afternoon that makes the temperature cooler now compared with April and May season.
Ok on our lesson for today on psychological side.
As a trader we must change the way we react on the market. I know deep inside we feel some excitement or sadness depending on the result of our trade. But as a professional trader we must overcome this. I manage to control emotions and reactions like this and it improves a lot my trading performance.
So how do we overcome this? One is by minimizing our time looking at our chart and open position. Why? Because we tend to think too much when we do this. Try to snob the charts and trade result.
LEARN TO MOVE ON EACH TRADE AND SAY TO YOURSELF THAT THE NEXT TRADE IS A DIFFERENT TRADE.
Remember what we always said that each trade is totally different from one and another. Whatever system you use, it's just like a toss of coin "head or tail", buy or sell, long or short. There's only two way to make money in this business, no more.
Remember after winning that a draw-down will come, we don't know when but for sure it will come especially with parabolic system we experience draw-down after a big home run hit of 100 or 200 points.
When we loss we know that there is always trade to come as long as our capital is intact and we trade disciplined via our money management to protect or capital.
TRADING RECAP - WEEKEND POSITIONS
Happy weekend everyone!
We approach the weekend with an open position and we manage to locked in some profits.
On our EURUSD 1H - FOREXSIGNAL 30
We locked in +30pts and we still have a strong bullish momentum on this pair.
The most important thing is to break-even.
We approach the weekend with an open position and we manage to locked in some profits.
On our EURUSD 1H - FOREXSIGNAL 30
We locked in +30pts and we still have a strong bullish momentum on this pair.
The most important thing is to break-even.
On the USDJPY 1H PARABOLIC SAR we manage to locked in +56 pts.
It is now a risk-free trade. Strong momentum on new structure low.
Friday, 3 June 2016
TRADING QUOTES - RISK COMES FROM NOT KNOWING WHAT YOU DOING
"RISK COMES FROM NOT KNOWING WHAT YOU ARE DOING" -WARREN BUFFET
Happy weekend everyone!
It is true that in any fields if you don't know what you are doing it is really risky!
Just like when you are driving, if you don't have a formal driving lesson how can you drive safely when you have no knowledge at all, this is more risky when you drive a manual transmission vehicle.
But risk can always be control.
I think having a formal mentor or finding a trading course will reduce the risk. But be aware of so called trading master, or mentor or some promising trading course out there. I highly suggest tradeempowered.com 12 weeks transformation course. They will guide you on a one on one.
Happy weekend everyone!
It is true that in any fields if you don't know what you are doing it is really risky!
Just like when you are driving, if you don't have a formal driving lesson how can you drive safely when you have no knowledge at all, this is more risky when you drive a manual transmission vehicle.
But risk can always be control.
I think having a formal mentor or finding a trading course will reduce the risk. But be aware of so called trading master, or mentor or some promising trading course out there. I highly suggest tradeempowered.com 12 weeks transformation course. They will guide you on a one on one.
TRADING ANALYSIS - AFTER NFP DATA RELEASE
EURUSD 1H FOREX SIGNAL 30
We hit our SL and made -38pts
On our USDJPY 1H Parabolic Sar
We now run our EA and let the market do what it want.
On our USDJPY 1H Parabolic Sar
TRADING RECAP - NFP I AM NOT TRADING NFP
Well the NFP is out and the expectation is worse than expected and it is really in favor of my expectation and that is new structure low.
Well yeah as I said emotionally of missing out that trade tries to enters me but NO! I am a profitable professional trader. I don't care NFP...
It works in my favor but what if the market reacts on the different way right? :)
So I just step aside and let the market do what ever it wants to do. What we are avoiding in NFP is the spike the CRAZY volatility.
We are just waiting for the first hour to pass by and then we will start again our EA.
Well yeah as I said emotionally of missing out that trade tries to enters me but NO! I am a profitable professional trader. I don't care NFP...
It works in my favor but what if the market reacts on the different way right? :)
So I just step aside and let the market do what ever it wants to do. What we are avoiding in NFP is the spike the CRAZY volatility.
We are just waiting for the first hour to pass by and then we will start again our EA.
TRADING ANALYSIS - USDJPY 1H PARABOLIC SAR
Our expectation USDJPY 1H is still New Structure Low.
We stop our Parabolic Sar EA in preparation of Non-farm Payroll release today.
But we still have an open position, so as planned since we already put risk on the market, we minimize it.
We are looking to close at break-even or atleast some profit. But at the worse -20 points I will close it manually before the data release at 730pm asian time.
By the way we closed 2 trades today 1) $91.87 and a 2) -$155.5
Our expectation is still new structure low and management level at 1.
TRADING ANALYSIS - EURUSD 1H FOREXSIGNAL 30
NFP Friday
Our expectation for EURUSD 1H Forexsignal is changed to new structure low.
Our SL is at -38points.
Our expectation for EURUSD 1H Forexsignal is changed to new structure low.
Our SL is at -38points.
Thursday, 2 June 2016
TRADING PSYCHOLOGY - TRADER'S GOAL TO TRADE WELL
My goal now everyday is to trade well.
I'm harnessing my parabolic sar system and forexsignal 30 system.
I'm confident so far with my trading performance so far.
Everyday I continue to do my routine:
1) When i wake up before going up from bed I start my day with my psychocybernetics routine. I want to start positively and align my thoughts with proper mind condition.
2) Morning exercise - i believe healthy and strong body is proportion to our mind. It's a good feeling to start our day when we heated up our body and limber up our muscles.
3) House routine and that's include spending time with the family, doing household chores.
4) Taking a nap in the afternoon or watching youtube about trading usually from my mentor.
5) at 4pm asian time I open my chart. I want to see how the market react during EU and London session. At this time this is where I enter and manage my trade. I only look for 3 to 4 times on chart and spend about 15 minutes on chart.
I'm harnessing my parabolic sar system and forexsignal 30 system.
I'm confident so far with my trading performance so far.
Everyday I continue to do my routine:
1) When i wake up before going up from bed I start my day with my psychocybernetics routine. I want to start positively and align my thoughts with proper mind condition.
2) Morning exercise - i believe healthy and strong body is proportion to our mind. It's a good feeling to start our day when we heated up our body and limber up our muscles.
3) House routine and that's include spending time with the family, doing household chores.
4) Taking a nap in the afternoon or watching youtube about trading usually from my mentor.
5) at 4pm asian time I open my chart. I want to see how the market react during EU and London session. At this time this is where I enter and manage my trade. I only look for 3 to 4 times on chart and spend about 15 minutes on chart.
TRADING PSYCHOLOGY - LONG TERM GOAL TRADING
One of the mistakes when I started trading is I always expect that my return after a month of trading will be 100%.
I believe I can double my capital after trading only for one month.
I'm happy I was able to remove that mentality and expectation.
Remember expectation will lead to trading failure. Although we backtested our system it doesn't mean we have the right to have expectation on each trade.
TRADING must be a probability game, we must focus on the process. Process is a combination of our trading method, our money management, trading management and psychology.
Trading is a business, and as like other business we must look for the long term. Looking to trade for 5 years, 10years...
Not trading and you want tomorow you will hit the home rum.
Long term trading.
I believe I can double my capital after trading only for one month.
I'm happy I was able to remove that mentality and expectation.
Remember expectation will lead to trading failure. Although we backtested our system it doesn't mean we have the right to have expectation on each trade.
TRADING must be a probability game, we must focus on the process. Process is a combination of our trading method, our money management, trading management and psychology.
Trading is a business, and as like other business we must look for the long term. Looking to trade for 5 years, 10years...
Not trading and you want tomorow you will hit the home rum.
Long term trading.
TRADING ANALYSIS - USDJPY 1H PARABOLIC SAR
Hello everyone our Parabolic sar on USDJPY 1H manage to close a +12.8
Stop loss was hit and it was a good entry.
US market hasn't open yet and let's see how the market will react.
We are expecting for the market to made another new structure low, and bear momentum is still strong.
We are looking at 106 level for another bottom touch at this level as the bears shows a very strong downside movement.
Tomorrow we will stop our EA before data release of NFP.
We will cut any floating loss before the NFP.
We will not do anything if a position is open and it's on positive.
TRADING ANALYSIS - EURUSD 1H FOREXSIGNAL 30
Our forexsignal 30 on EURUSD managed to locked in +17pts.
Our expectation is still new structure high.
Momentum to upside is still strong and it's only the EUR session let's see how the market reacts when the US market opens.
Our expectation is still new structure high.
Momentum to upside is still strong and it's only the EUR session let's see how the market reacts when the US market opens.
TRADING RECAP - MONTHLY PERFORMANCE
As we see the May 2016 performance is not that profitable compared from February to April 2016.
But it doesn't have to do with our system. We will stick to it and we know that trading is like this, some months we win some months we break-even or lose but when we win it's monters!
That's why journaling and logging all our trades and it's performance is important.
One guy tells me to use FXblue or mybookfx for online and automatic journaling of my trades.
That's convinient but I prefer to use manual, or excel spreadsheet because I want to see the trades, I want to feel the up and down of it.
But it doesn't have to do with our system. We will stick to it and we know that trading is like this, some months we win some months we break-even or lose but when we win it's monters!
That's why journaling and logging all our trades and it's performance is important.
One guy tells me to use FXblue or mybookfx for online and automatic journaling of my trades.
That's convinient but I prefer to use manual, or excel spreadsheet because I want to see the trades, I want to feel the up and down of it.
TRADING PERFORMANCE - MAY 2016
Hello everyone!
May 2016 is over and we will now publish our updated performance report.
May 2016 is over and we will now publish our updated performance report.
PARABOLIC SAR MAY 2016
RSI MAY 2016
FOREXSIGNAL 30
Wednesday, 1 June 2016
TRADING PSYCHOLOGY - FEAR AND DISAPPOINTMENT
Good morning everyone.
We just finished our monthly performance report last night and we will publish all the results today.
Ok ill be honest I admit that I feel some of fear and disappointment. I will be honest to myself so that I know how to cure it. We must recognize and honest with our mind condition so that we know how to overcome it, no one can help us but only ourselves.
So the Parabolic sar produce about +80 net pts. RSI -25 net pts and Forexsignal 30 is +320 pts.
It was great after trading for a month with these system I was almost breakeven.
Not bad since february to april 2016 is really a good month.
The fear of not producing the same profit with last month and dissapointment of not getting what I expect.
But let's go back to the reality that just like any businesses there are months that we had a good month and some that don't have.
We must let our system run for a year to maximize it's efficiency. So my goal is not to withdraw any dime for a year.
Remember how bad was trade empower their equity curve for 20weeks or 5 months.
The point here is not to tell that I am better than them but look how they stick to their plan and let it run and follow rules and before the year end the equity skyrocketted.
Our systems work on average 60%, but knowing when or where the 60% probability will happen. Mark Douglas said that No one knows when it will happen but it will happen since the probability based on our backtesting will prove it. Just keep on process.
FOCUS ON PROCESS NOT ON PRODUCT.
We just finished our monthly performance report last night and we will publish all the results today.
Ok ill be honest I admit that I feel some of fear and disappointment. I will be honest to myself so that I know how to cure it. We must recognize and honest with our mind condition so that we know how to overcome it, no one can help us but only ourselves.
So the Parabolic sar produce about +80 net pts. RSI -25 net pts and Forexsignal 30 is +320 pts.
It was great after trading for a month with these system I was almost breakeven.
Not bad since february to april 2016 is really a good month.
The fear of not producing the same profit with last month and dissapointment of not getting what I expect.
But let's go back to the reality that just like any businesses there are months that we had a good month and some that don't have.
We must let our system run for a year to maximize it's efficiency. So my goal is not to withdraw any dime for a year.
Remember how bad was trade empower their equity curve for 20weeks or 5 months.
The point here is not to tell that I am better than them but look how they stick to their plan and let it run and follow rules and before the year end the equity skyrocketted.
Our systems work on average 60%, but knowing when or where the 60% probability will happen. Mark Douglas said that No one knows when it will happen but it will happen since the probability based on our backtesting will prove it. Just keep on process.
FOCUS ON PROCESS NOT ON PRODUCT.
TRADING ANALYSIS - USDJPY 1H PARABOLIC SAR
Our USDJPY 1H parabolic sar made a new structure low. A very strong bearish momentum changed our expectation.
Today we made a -297.83 and a +408.61 pts
We are still on the level 1 of our money management system.
TRADING ANALYSIS - EURUSD 1H FOREXSIGNAL 30
Hello everyone
Our expectation for EURUSD 1H is New structure high and our stop loss is set to -30pts.
We are looking to break-even when the price moves to 30pts in our favor.
Our expectation for EURUSD 1H is New structure high and our stop loss is set to -30pts.
We are looking to break-even when the price moves to 30pts in our favor.
Tuesday, 31 May 2016
TRADING PSYCHOLOGY - I LOVE TRADING I DONT LIKE MY JOB
I think trading is not for everyone, some people are already happy with their life and some want to change their life.
That is me, that's why I decided to become a trader. Notice the word DECIDED. I just dont give a try and i dont just choose it, i DECIDED.
Way back 2012 when I learned the potential of forex trading i said to myself this is it, this is the business that I want. I know from the very beginning that trading will not immediately change my life and immediately quit my job. I understand and ready to face the consequences that will arise in my journey.
My work as engineer on oil offshore doesnt make me feel happy and fulfilled. I remember the days the im applying for this job since its a high paying job, 2 to 3 months work only and easy task onboard. But when Im already there it seems nothing has changed, i want to be free. I want to wake up each day eating breakfast prepared by your wife.
Eating breakfast without time pressure, chatting with your family without time limitation is great. I go for a run each morning, cleaning our house is the best routine! Thinking where to go for a short vacation, thinking of where to hike with my mountaineering club.
I never crave for a higher position anymore.
I'm happy being a consistenly profitable trader. I live a simple but awesome happy life!!!!
I love my wife i love my babies!!!
It's just a matter of choice in life.
People choose to be a businessman and they live their life until the end as businessman.
People live their life as a politician and they live their life until the end as politician.
People live their life as a teacher and live their life until the end as a teacher.
I LIVE MY LIFE AS A FOREX TRADER AND I WILL LIVE MY LIFE UNTIL THE END AS A FOREX TRADER. It's my choice, we have the power to create our future.
That is me, that's why I decided to become a trader. Notice the word DECIDED. I just dont give a try and i dont just choose it, i DECIDED.
Way back 2012 when I learned the potential of forex trading i said to myself this is it, this is the business that I want. I know from the very beginning that trading will not immediately change my life and immediately quit my job. I understand and ready to face the consequences that will arise in my journey.
My work as engineer on oil offshore doesnt make me feel happy and fulfilled. I remember the days the im applying for this job since its a high paying job, 2 to 3 months work only and easy task onboard. But when Im already there it seems nothing has changed, i want to be free. I want to wake up each day eating breakfast prepared by your wife.
Eating breakfast without time pressure, chatting with your family without time limitation is great. I go for a run each morning, cleaning our house is the best routine! Thinking where to go for a short vacation, thinking of where to hike with my mountaineering club.
I never crave for a higher position anymore.
I'm happy being a consistenly profitable trader. I live a simple but awesome happy life!!!!
I love my wife i love my babies!!!
It's just a matter of choice in life.
People choose to be a businessman and they live their life until the end as businessman.
People live their life as a politician and they live their life until the end as politician.
People live their life as a teacher and live their life until the end as a teacher.
I LIVE MY LIFE AS A FOREX TRADER AND I WILL LIVE MY LIFE UNTIL THE END AS A FOREX TRADER. It's my choice, we have the power to create our future.
TRADING PSYCHOLOGY - 3PTS GOLDEN STATES WARRIOR
Hoooray!
Golden states warrior win the conference final and they will face the Cavalier on NBA FINAL.
It's really inspiring win, from 3-1 standing cavalier has only one game to finish to become the conference champion but Golden states didnt give up.
Golden states use their edge and that is 3pts.
If you will look at the stats of their 3pts they only made 40% on their 3pts attempt. But the trick here is they made about 30 attempts and manage to shot of 17 x3pts.
That's a big contribution to the team. And the Oklahoma can't stop them.
You see they made many attempts and a 40% winning percentage only. But in the long run it is very powerful.
The same with the trading I remember last April 2016 it is my lowest winning percentage compare with the previous but the pips is the highest.
My parabolic Sar system is really have an edge on USDJPY. Remember my 5 consecutives lossing streak then aftet that i made 200 pips.
So I know my edge of my system and a treding market like USDJPY 1H.
Golden states warrior win the conference final and they will face the Cavalier on NBA FINAL.
It's really inspiring win, from 3-1 standing cavalier has only one game to finish to become the conference champion but Golden states didnt give up.
Golden states use their edge and that is 3pts.
If you will look at the stats of their 3pts they only made 40% on their 3pts attempt. But the trick here is they made about 30 attempts and manage to shot of 17 x3pts.
That's a big contribution to the team. And the Oklahoma can't stop them.
You see they made many attempts and a 40% winning percentage only. But in the long run it is very powerful.
The same with the trading I remember last April 2016 it is my lowest winning percentage compare with the previous but the pips is the highest.
My parabolic Sar system is really have an edge on USDJPY. Remember my 5 consecutives lossing streak then aftet that i made 200 pips.
So I know my edge of my system and a treding market like USDJPY 1H.
TRADING ANALYSIS - USDJPY 1H PARABOLIC SAR
Yesterday we closed a profit of +121 pts.
And a small trade of -7pts.
Our expectation is still new structure high and we have an open trade.
And a small trade of -7pts.
Our expectation is still new structure high and we have an open trade.
So today is the last day of May 2016, and we will release our end of the month report.
TRADING ANALYSIS - EURUSD 1H FOREXSIGNAL 30
Our forexsignal 30 changed its expectation to new structure high.
We closed +24 pts yesterday.
Today we saw a strong momentum on the upside.
We currently have a buying position and we manage to reduce the risk from -40 to -25 pts.
We closed +24 pts yesterday.
Today we saw a strong momentum on the upside.
We currently have a buying position and we manage to reduce the risk from -40 to -25 pts.
Monday, 30 May 2016
TRADING PSYCHOLOGY - FREEDOM
Trading forex is my choice because from the very beginning i comit to do all my best to br a successful trader.
I fail many times! But I did not give up, I worked so hard in search for holy grail hahaja. I worked so hard only to find out that my own mind is the holy grail.
I losT 3 ACCOUTNS.
1st $100
2nd $9500
3rd $9000
All wiped out, ah the 3rd one it when down to $100 then after doing all the right this this last $100 turned into $225.
Thats the time i was convinced my self that I will do it consistently no matter how big my trading account is.
So thats how I become a consistent profitable trader. I stick to the trading plan, money management. All rules followed religiously.
Everyday before I entered my platform I always condition first my mind. Listen to podcast of my mentor and read ebooks.
I love the freedom of this business. As long as you've done your part on way to successful trading.
I fail many times! But I did not give up, I worked so hard in search for holy grail hahaja. I worked so hard only to find out that my own mind is the holy grail.
I losT 3 ACCOUTNS.
1st $100
2nd $9500
3rd $9000
All wiped out, ah the 3rd one it when down to $100 then after doing all the right this this last $100 turned into $225.
Thats the time i was convinced my self that I will do it consistently no matter how big my trading account is.
So thats how I become a consistent profitable trader. I stick to the trading plan, money management. All rules followed religiously.
Everyday before I entered my platform I always condition first my mind. Listen to podcast of my mentor and read ebooks.
I love the freedom of this business. As long as you've done your part on way to successful trading.
TRADING ANALYSIS - USDJPY 1H PARABOLIC SAR
On our USDJPY Parabolic system, the bullish momentum is very strong and we manage to locked in +124 pts.
Remember the horizontal line we draw, the 110.62 resistance level already broke and that's a significant to USDJPY as the market already tells us where it wants to go and we are looking for another retest on 111.65 if we look at 4H or daily chart it is a strong resistance.
I moved a little bit lower the SL since it's only 1 hour before the US market open and I want to be wise to move it little bit because the opening of US market will have a high probability of hitting our stop loss, and it's logical. If the stop loss hit then it's ok time to move to next trade, anyway we manage to break-even, aggressive locking in of profits.
Remember the horizontal line we draw, the 110.62 resistance level already broke and that's a significant to USDJPY as the market already tells us where it wants to go and we are looking for another retest on 111.65 if we look at 4H or daily chart it is a strong resistance.
I moved a little bit lower the SL since it's only 1 hour before the US market open and I want to be wise to move it little bit because the opening of US market will have a high probability of hitting our stop loss, and it's logical. If the stop loss hit then it's ok time to move to next trade, anyway we manage to break-even, aggressive locking in of profits.
TRADING ANALYSIS - EURUSD 1H FOREX SIGNAL 30
Good Monday everyone!
Today as the trade resumed, our EURUSD 1H still managed to locked in +24 pts the same just last week.
The signal hasn't change.
Our expectation is still new structure low.
Today as the trade resumed, our EURUSD 1H still managed to locked in +24 pts the same just last week.
The signal hasn't change.
Our expectation is still new structure low.
TRADING PSYCHOLOGY - 5 MONTHS OF DRAWDOWN OR SIDE WAYS (MENTOR LESSON FROM TRADEEMPOWERED)
I just watch one of the video Jason Stapleton made in Tradeempowered.com
This video is a must watch for all new traders, why?
TO SEE THE REALITY OF FOREX TRADING.
It really inspires me and an eye opening or inspiration on my trading.
Jason shows, as a professional trader, his equity curve for the entire year.
Most of us will notice how the curve move upward, but the main catch here is the graph in the middle, how the equity moves sideways, for 20 weeks (5 months) there's no upward movement in their equity curve.
This video shows me that trading should be done on a yearly basis, what I mean is before analyzing or making a final judgement of your trading, it should be on a yearly basis.
Also withdrawing money should not be done after a year of trading.
Take a minute watching this video to see how a professional trader like Jason do it right.
<iframe width="459" height="344" src="https://www.youtube.com/embed/iSuJuhdrljI" frameborder="0" allowfullscreen></iframe>
This video is a must watch for all new traders, why?
TO SEE THE REALITY OF FOREX TRADING.
It really inspires me and an eye opening or inspiration on my trading.
Jason shows, as a professional trader, his equity curve for the entire year.
Most of us will notice how the curve move upward, but the main catch here is the graph in the middle, how the equity moves sideways, for 20 weeks (5 months) there's no upward movement in their equity curve.
This video shows me that trading should be done on a yearly basis, what I mean is before analyzing or making a final judgement of your trading, it should be on a yearly basis.
Also withdrawing money should not be done after a year of trading.
Take a minute watching this video to see how a professional trader like Jason do it right.
<iframe width="459" height="344" src="https://www.youtube.com/embed/iSuJuhdrljI" frameborder="0" allowfullscreen></iframe>
Sunday, 29 May 2016
TRADING ANALYSIS - MONDAY GAP TRADE
Good morning everyone.
Good monday!
At 6am Asian opening, I always start the trading week by looking for a gap trading opportunity. GAP trading is a high profitability trade.
Today monday we open our chart to see if there's any gap but no gap trading today. So we close the chart and stick to our main strategy.
Good monday!
At 6am Asian opening, I always start the trading week by looking for a gap trading opportunity. GAP trading is a high profitability trade.
Today monday we open our chart to see if there's any gap but no gap trading today. So we close the chart and stick to our main strategy.
DADDY FOREX TRADER - WEEKEND
Hello everyone I hope all traders had a good weekend.
Rainy season has just started here in the Philippines.
I'm happy I spent great weekend with my family. Watching movies, cleaning house, food trip, Sunday church and a massage therapy.
Once in a while let's stay away from the trading environment.
Let's charge energy for this coming week.
This week is the end of May 2016 and June 2016 is about to come, so a data week for us.
Our plan for this week is:
Rainy season has just started here in the Philippines.
I'm happy I spent great weekend with my family. Watching movies, cleaning house, food trip, Sunday church and a massage therapy.
Once in a while let's stay away from the trading environment.
Let's charge energy for this coming week.
This week is the end of May 2016 and June 2016 is about to come, so a data week for us.
Our plan for this week is:
- 31st May 2016 - End of the month performance
- Parabolic Sar EA
- RSI EA
- Forex Signal 30 - Manual Trading
- NFP - we will stop our EA on friday and restart it again after 2hours of NFP data release.
- If an existing position is open and it's a floating loss we will immediately cut it.
- If an existing position is open and it's a positive position, we will leave it as is
- If there's no existing position we will stop our EA.
That's all for this week, as a recap
- USDJPY 1H - PARABOLIC SAR - we are on a risk-free trade and we managed to locked in +25 pts, expectation is still new structure high, strong momentum.
- EURUSD 1H - FOREX SIGNAL 30 - locked in +24 pts, expectation is still new structure low, strong bearish momentum.
Friday, 27 May 2016
TRADING ANALYSIS - USDJPY 1H PARABOLIC SAR
Happy weekend everyone!
As the ADAM CHAEL FOREX kicks off the parabolic sar system just started on the positive side.
It's a good start, but this doesn't mean we should expect the same trade again and again.
Remember previously that our system shows weakness duing the sideways or ranging environment.
And just before the weekend is approaching the market rally and we manage to locked in +25 pts.
Very strong bullish momentum, and we are looking for a breakout on the strong resistance USDJPY 110.62 LEVEL.
It's been a ranging price market as you can see I draw a horizontal lines to see how the price will behave on this levels as this holds the price into a cage.
We will spend our weekend with a +68 floating position.
Next week is Data week, and end of the month monthly system performance.
As the ADAM CHAEL FOREX kicks off the parabolic sar system just started on the positive side.
It's a good start, but this doesn't mean we should expect the same trade again and again.
Remember previously that our system shows weakness duing the sideways or ranging environment.
And just before the weekend is approaching the market rally and we manage to locked in +25 pts.
Very strong bullish momentum, and we are looking for a breakout on the strong resistance USDJPY 110.62 LEVEL.
It's been a ranging price market as you can see I draw a horizontal lines to see how the price will behave on this levels as this holds the price into a cage.
We will spend our weekend with a +68 floating position.
Next week is Data week, and end of the month monthly system performance.
TRADING RECAP - EURUSD 1H FOREX SIGNAL 30
Happy weekend everyone!
Daddy MJ here :)
Yesterday our expectation for EURUSD 1H changed to new structure low, and the previous trade made a -17pts.
Currently the EURUSD has a strong momentum on the downside and we manage to break-even, risk-free trade and now we locked in +24 pts.
We are looking for more aggressive profits, we will move the stop-loss further when the market made a resistance structure a place where logically to move the stop-loss.
Or when the forexsignal 30 changed its signal to buy we will be more aggressive in locking profits, a tight stop loss.
So that's it for this week, happy weekend everyone and we will see each other again next week.
By the way next week is end of the month performance report of this system FOREX SIGNAL 30.
Daddy MJ here :)
Yesterday our expectation for EURUSD 1H changed to new structure low, and the previous trade made a -17pts.
Currently the EURUSD has a strong momentum on the downside and we manage to break-even, risk-free trade and now we locked in +24 pts.
We are looking for more aggressive profits, we will move the stop-loss further when the market made a resistance structure a place where logically to move the stop-loss.
Or when the forexsignal 30 changed its signal to buy we will be more aggressive in locking profits, a tight stop loss.
So that's it for this week, happy weekend everyone and we will see each other again next week.
By the way next week is end of the month performance report of this system FOREX SIGNAL 30.
TRADING PSYCHOLOGY - WINNING INVESTMENT HABITS OF WARREN BUFFET AND GEORGE SOROS
Hello every one happy weekend!
It's a great weekend today in the Philippines, the summer is over it's started to rain a bit during afternoon and making the temperature lower compared from the summer heat of April and May.
Ok for today I would like to share what George Soros said about his trades. He said that "What's important is how much money you make when you're right about a trade, and how much money you lose when you're wrong.
It's a good lesson for us on telling us that any trade system will produce a good return if we know how to cut our losses when the trade is not profitable, and we know when to be aggressive when the market is moving in our favor. No matter how many losing streak we had, and when the time the trade is profitable we they are monster.
Let's take a look again in our equity curve.
It's a great weekend today in the Philippines, the summer is over it's started to rain a bit during afternoon and making the temperature lower compared from the summer heat of April and May.
Ok for today I would like to share what George Soros said about his trades. He said that "What's important is how much money you make when you're right about a trade, and how much money you lose when you're wrong.
It's a good lesson for us on telling us that any trade system will produce a good return if we know how to cut our losses when the trade is not profitable, and we know when to be aggressive when the market is moving in our favor. No matter how many losing streak we had, and when the time the trade is profitable we they are monster.
Let's take a look again in our equity curve.
As you can see the equity on average moves in an upward direction, but it's not moving on a consistent winning streak. It's moving up and down, winning and losing.
But the trading system and money management are so aggressive when the market is moving in our favor and know when to cut our loss when the trade is not profitable.
TRADING - END OF THE MONTH REPORT
Next week we will see how our system performed.
So let's have some recap on the performance of the 2 EA system that we are using.
The parabolic SAR and RSI.
We will publish our end of the month performance report of each system.
So let's have some recap on the performance of the 2 EA system that we are using.
The parabolic SAR and RSI.
We will publish our end of the month performance report of each system.
TRADING ANALYSIS - EURUSD 1H FOREXSIGNAL 30
On EURUSD 1H using our Forexsignal 30 strategy, we already reduced our risk at -17.
Our expectation is still new structure high.
Our expectation is still new structure high.
TRADING ANALYSIS - USDJPY 1H PARABOLIC SAR
Good day and happy weekend to all of us, last trading day of the week.
Our parabolic sar already entered long on USDJPY 1H.
The price during asian session moves in our favor and stop-loss just reduced and now we have -27pts at risk.
We are looking for a break-even trade then a locked in more trades.
Our expectation is still new structure high
Our parabolic sar already entered long on USDJPY 1H.
The price during asian session moves in our favor and stop-loss just reduced and now we have -27pts at risk.
We are looking for a break-even trade then a locked in more trades.
Our expectation is still new structure high
TRADING PSYCHOLOGY - EACH TRADE HAS NOTHING TO DO WITH THE OTHER TRADE
One of the lesson I've learned during my struggling days of trading, that no matter how good is your system, no matter how high is the percentage of winning, each trade is unique.
So therefore when we follow our trade plan or rules, the outcome will not be the same with other trades.
So every time we win on our trade, move on and move to the next trade, but this should not blind us that the next trade has different outcome from the previous trade, even though the results is always a winning streak.
We are anticipating the market but we are not predicting it.
We anticipate the market based on high probability set ups it produce from the previous testing or back-testing, but this does not guarantees us that every time we trade we will have an expectation on what will be the outcome.
EXPECTATION WILL DESTROY EVERYTHING.
It will create greed, create fear, create excitement and this characters are deadly to the traders.
If the market moves in our favor we must know hot to handle the situation, just like in my case if the market moves 30pips above I will move the Stoploss on break-even, because my goal or rule is to have a risk-free trade first. Then trailing aggressively as the price moves further in our favor.
My rules are easy to follow so that it will not create conflict in different market situations.
So therefore when we follow our trade plan or rules, the outcome will not be the same with other trades.
So every time we win on our trade, move on and move to the next trade, but this should not blind us that the next trade has different outcome from the previous trade, even though the results is always a winning streak.
We are anticipating the market but we are not predicting it.
We anticipate the market based on high probability set ups it produce from the previous testing or back-testing, but this does not guarantees us that every time we trade we will have an expectation on what will be the outcome.
EXPECTATION WILL DESTROY EVERYTHING.
It will create greed, create fear, create excitement and this characters are deadly to the traders.
If the market moves in our favor we must know hot to handle the situation, just like in my case if the market moves 30pips above I will move the Stoploss on break-even, because my goal or rule is to have a risk-free trade first. Then trailing aggressively as the price moves further in our favor.
My rules are easy to follow so that it will not create conflict in different market situations.
Thursday, 26 May 2016
TRADING - DADDY FOREX TRADER TRADING AT HOME
I usually trade or look at my trading set-up @ 3pm Asian time, so that's the start of Euro session. I don't trade that session, it's just I want to do my morning routine first, then lunch and ill take a nap or just do nothing.
Then 3pm snack or mirienda time here, then I'll open my platform or do my trading routine.
My routine for trading is I'll read first articles from my mentor or watch youtube video from my mentor. This way I will align my mind for the proper trade psychology.
When I just started ttading I remember I immediately open my mt4 platform in my platform and if I feel that I want to enter the market I will enter hahaha. FUNNY DAYS is over.Thoose are one of my never again moments in my trading journey.
Wednesday, 25 May 2016
TRADING PSYCHOLOGY - "TRADING BAREFOOT" KINDLE BOOK
I just purchased this book today.
I'm excited to hear his story.
The author is a forex trader and binary option trader.
Listening to his stories is really amazing, because he started forex trading by blowing up 9 accounts.
I found myself lucky since I only blow up 2 accounts. No matter how big is the account, the issue here is how long did you stay in the game until you become consistently profitable trader.
A truck driver turned into profitable forex and binary option trader.
I'm excited to hear his story.
The author is a forex trader and binary option trader.
Listening to his stories is really amazing, because he started forex trading by blowing up 9 accounts.
I found myself lucky since I only blow up 2 accounts. No matter how big is the account, the issue here is how long did you stay in the game until you become consistently profitable trader.
A truck driver turned into profitable forex and binary option trader.
TRADING - ADAM CHAEL FOREX LAUNCHING TODAY
From January 2016 to March 2016, we have conducted our backtesting, then we run it live with $100.
The Parabolic Sar shows a great performance in our trading.
Combining this system with our powerful and optimized money management we were able to turn $100 to $210 from 7 April to 26 May 2016.
And now we are going to lunch our $10,000 account.
We will not change anything.
We will trade the same as previously.
We will just increase our Equity.
We will use our powerful MONEY MANAGEMENT inherited from Mr.Pips.
Thank you very much Mr.Pips for your dedication! For us traders see the huge opportunity in forex trading.
The Parabolic Sar shows a great performance in our trading.
Combining this system with our powerful and optimized money management we were able to turn $100 to $210 from 7 April to 26 May 2016.
And now we are going to lunch our $10,000 account.
We will not change anything.
We will trade the same as previously.
We will just increase our Equity.
We will use our powerful MONEY MANAGEMENT inherited from Mr.Pips.
Thank you very much Mr.Pips for your dedication! For us traders see the huge opportunity in forex trading.
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