Tuesday, May 31, 2011
FOREX TEMPLATE FOR GRAB
Can anyone tell me where is the best place to upload and share files. I intend to upload a MT4 template and a text document explaining how it works.
FOREX
Im sure that happens to all of us, myself included :). That is lost in Forex, where we are unsure of direction of trade. Some people even hedge in the situation.
I have a few tips when you are lost in Forex.
1. If you are lost and dont know which direction to trade, the most important thing is to stop trading and do something else. Go plant a tree or play games. Dont even look at the charts anymore to avoid confusion.
2. Is to take a trading system and put it on multiple time frame. I trade using the same system on 3 timeframe. 15m, 1h, daily. When all three is pointing at the same direction then I trade. If 2 timeframe is pointing at the same direction then i scalp.
3. After sometime, your brain will start to imprint patterns of Forex. Forex has the same pattern over and over again. In our mind, that pattern has been imprinted and it influence our decision making subconsciously. Once you reach that state you will rarely get lost in Forex. You will know the exact time to trade or to get lost (do something else).
I will try to update this blog. Been so long and so busy with new place. As for Forex, USD pairs are going nowhere at the moment with a high probability to go down further. Good luck on your hunt for pi
ITS NOT PIPS BUT PROFIT IN FOREX
Once you are older in Forex, you will see the ratio. No point of taking hundreds of pips when the profit is low. So you start to take high risk high return trade. These trades do not give you high pips but the profit margin is high.
That is how money is to be made in Forex. You actually manage your risk and take profit from it. For today as of now, I already taken 3 trades. 2 profit trades and 1 lost trade. My account grows 37%. Not bad for a slow Monday.
For the answer to Forex, once you know it you will feel helpless. No matter how smart or brilliant you are it counts for absolutely nothing here. I have Banking and IT qualification. Did that help me? 2 different qualification did not help me one bit here. Made me want to cry when I found it out.
THE ENDING IS NEAR
Though hard it may be I started to develop my own system and continue to improve on that system. No matter how I try to improve it, there is still something missing. After a long and hard work I finally got the answer. It is an answer that I wasn't willing to accept. So I disappeared for almost 1 year though my part of moving places only took 1 month to settle.
Now I am back trading with the answer in my head thus a new direction in my sight. Turns out it is really easy once you have the right answer. You know the question as well as I do. "WHAT IS FOREX".
I believe my learning period in Forex is almost over. I can now see direction clearly. I know which pair to trade with the highest probability of profit. I know when to exit and I know when to turn off the computer while still holding positions. I have mastered the basic of Forex. The only thing now is discipline and Money Management.
What I am not willing to do is to write in this blog about trading ideas. I may blow out the answer. After almost 4 years, its not something I am willing to give easily. There are no notes, no records, nothing written anywhere on my trading ideas. Its all in my head. My system now is so simple, it consist of only 2 main indicators which I can trade without. Find the answer and its all smooth sailing from there. I just wish I have found it earlier.
For those of you who show interest in my new trading system, thank you for the attention. I have stopped giving out my system due to limited time I have to teach. I dont teach, I dont sell my system, I dont ask for your money and I dont give signals.
You can come and visit this blog. I will give chart analysis from time to time. Dont expect too much coz there is not much in Forex anyway.
Good luck to all of you. Thank you for visiting my blog. For today, do sell GJ coz its going down. You just need to figure out where to enter. Its not an easy task, I know coz Ive been ther
FOREX 4TH ANNIVERSARY
After 3 days of demo trading I got over 25k of profit from 10k max lot trading. Its over 250pip net profit. Not bad for a part time trader and a 7th place so far. I dont think I can be number 1 coz of limited time I trade. Its a good progress, it shows where I am after 4 years. How about you?
FOREX 4TH ANNIVERSARY
After 3 days of demo trading I got over 25k of profit from 10k max lot trading. Its over 250pip net profit. Not bad for a part time trader and a 7th place so far. I dont think I can be number 1 coz of limited time I trade. Its a good progress, it shows where I am after 4 years. How about you?
FOREX IS AN ART
When you say trading, people will say trading is an art. Look at all the books that has been published on the subject. They will say the art of trading forex.
In that sense, we must take forex as an art and not a science. I know, some people may not agree with me and all the post that is in this blog. I don't blame them coz I was actually in the same place as they were when I started trading. Trying to find the answer to forex using every logical explanation.
This is the answer that you have been looking for. I am going to give it to you straight away. Let see if your mind can accept it.
Forex is not a science. There is not a single mathematical equation that can explain it. Do not forecast, do not predict, do not anticipate. All you need to do to make profit is to follow the market. If the price is going up, you buy. If the price is going down, u sell. You may not win all the time but if you follow the market, in the end you will be in profit. Make profit and build up your capital up to a point where a few winning trades per month will bring huge profit.
Can you accept it? Can you mind admit it? Is your logical mind challenged? Do you feel helpless? Welcome to the real world :)
Posted by GreenGo at 3:58 PM 4 comments
In that sense, we must take forex as an art and not a science. I know, some people may not agree with me and all the post that is in this blog. I don't blame them coz I was actually in the same place as they were when I started trading. Trying to find the answer to forex using every logical explanation.
This is the answer that you have been looking for. I am going to give it to you straight away. Let see if your mind can accept it.
Forex is not a science. There is not a single mathematical equation that can explain it. Do not forecast, do not predict, do not anticipate. All you need to do to make profit is to follow the market. If the price is going up, you buy. If the price is going down, u sell. You may not win all the time but if you follow the market, in the end you will be in profit. Make profit and build up your capital up to a point where a few winning trades per month will bring huge profit.
Can you accept it? Can you mind admit it? Is your logical mind challenged? Do you feel helpless? Welcome to the real world :)
OVERCOMPLICATED TRADING
In my previous post, I posted a chart of a basic system. It consist of candle stick chart, moving average and macd. Only 3 indicators and it is a very simple system rite?
The answer is, it is not so simple actually. Candle stick alone tell you 4 things that is, open, close, high and low price. MA tells you direction of trend, entry point, start and end of trend. Macd tell you trend, entry point, reversal point.
From only 3 indicators there are actually 11 information cramp into that small chart. Too much info and decision making is a hard job. Though i filter comments, no one has actually ask about the amount of information on chart. It seems people can accept 11 information at once. Can you manage 11 input at once and make a decision out of it??
Trading is actually much simpler. It is actually possible to make profit with only 1 information. Believe it or not??
FOREX WITH PEACE OF MIND
I hope all of you are doing fine and have lots of pips to enjoy. Just got back from a vacation. 6 days there and I got bored and get back home. Leave my wife and kids there to do their shopping. It seems that I like it better at home than to stay at hotels. Maybe I'm getting old :)
Been a while since I have updated this blog. Been thinking of deleting or selling this blog to anyone who wants it.
Met a friend while on vacation. It seems he is making 15k average per month without even knowing how to trade. Talk about forex with peace of mind. You guys wanna know how he did it? Let me tell you his story.
He wanted to learn from me how to trade but I am reluctant to teach him since this is not something I can teach. I can tell you how I did it but I cant guarantee you can do it the same way I did. Its not pure technical or skill. There are some form of mind control involve. I cant change your mind. You have to do it your self. Free your mind.
He kept asking me how to make money in forex. I gave him a way that is a bit risky but with care everyone can do it. I told him to find a trader that is looking for investors. Lots of new traders around with good skills but low capital. These traders are looking for a way to maximize their income, so they take in few accounts to manage. They trade their own account and at the same time execute the exact same trade on their managed accounts. They take profit from their own account and take commission on manage accounts.
Turns out after 1 year my friend manage to get 15k average monthly income and he knows nothing bout trading. There are few rules to follow if you want to do the exact same way.
1. Study the trader records. At least 3 months maintain profit.
2. Open a trading account with your name tied to your banking account. (dont ever hand him your money)
3. Get the trader details just in case he decide to make a run for it.
4. Ready to accept trading losses. If its a trading loss, accept it and release him from his burden. Trading is already hard enuf. Now you know why I dont manage accounts.
5. Give him your trading account details and leave him alone.
6. Take him out for dinner at the end of the months. Dont ask, let him tell you bout the trading.
Hope that is clear enuf. Those steps are minimal. Extra precaution is always welcome but dont put pressure on the trader. We dont want to send him to a mental hospital or something.
Good luck everyone and happy trading. Im not going to give any trade setup since its all based on situation. If its there, then i trade. Ifs its not there, then I just watch and play with my RC helicopter. My new hobby is RC helicopter btw, a very expensive hobby.... oou
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