Hey Guys. Just wanted to make sure that everybody had the basics down when it comes to making a trading journal that can help you self police your trading. The point of a journal isn't to keep track of your trading stats, but rather to look and see how your emotions have played a role in your trading. If you feel scared, unconfident, and fearful that a trade...
The Three A's It is a known statistic that over 90% of traders fail and I covered the three main reasons why in my previous educational post (shown below). Now that you know the main reasons why traders fail, it's time to lay the foundation for successful trading. This can be structured and defined by something I call the three A's. #1: Approach...
Three Reasons Why Most Traders Fail Hello traders, I'm back with another educational post after receiving a lot of positive feedback. Today I'm going to break down three reasons why most traders fail! Traders Fail?! Yes most do, it is believed over 90% of new traders fail (this is an ongoing debate) but why is that? I personally believe it comes down to...
Why do you trade? Consider writing down your personal trading goals. The following are my personal Trading Goals & Motivations (taken from my trade plan). Goals - Consistency 1. Focus on the process and let the results happen 2. Think in probabilities and whether I followed my plan. (Not right or wrong) 3. Master the ability to sit on my hands 4. Demand...
I just posted an updated analysis on USDJPY where I talked about learning from getting stopped out. Now I know it may seem like I NEVER lose but in reality, I lose many trades! But I ALWAYS make much more than I lose because of PROPER stop placement and PROPER money management! If you incorporate and utilize these 2 things PROPERLY and stick to it, it will go a...
DISCLAIMER: Hi everyone, I'm new to trading and this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas". Last week I published a small "idea" for a quick scalp on the CADJPY. I noticed an uptrend that I didnt expect to go past a...
SOME WORDS FOR NEW TRADERS: 1. Learn from the Ideas in tradingview, pay attention to trading logic (why did this author want to long/short? ) 2. if you can not understand the idea, or u disagree the idea, then dun trade it. 3. if you want to trade based the author's idea, make sure u make a very detail trading plan for yourself. the entry, the stop loss, the...
I still remember when gold at 1366 area, a lot of ppl questioned: It is obviously an uptrend? why u want to short? or: The fundamental wont' support gold to go down to 1200 again any more. and now gold is 1182. The key thing is not whether you guess the direction correctly or not. it is about whether u want to buy low or sell high. I also dun know what kind of...
I strongly recommend everyone to read the new blog post from tradingview, as it advises users to be carefull from service sellers here at the website. Please read the 5 points caefully here : blog.tradingview.com This is not the first time i publish this post. But some new followers may haven't had a chance to read it.. Suggesting advice on how you approach and...
The Reason I dont provide Trading Signals: 1. Trading is difficult and trading is involved with risk. if some people has no idea what is risk and just copy the trade without knowing how much risk he is going to have, it is very dangerous. 2. Trading logic is more important than trading signal, a signal may let you win one time but if you understand the trading...
This is a condensed version of my trading plan. I follow this plan faithfully every day, It is the foundation to my trading. I mentioned in my approach segment of this trading plan that I build my strategies based on the tactics within my playbook. All the tactics I use to build strategies I have listed here on tradingview and they are as followed: Chart...
Technical Analysis is not an exact science, but rather an art form. Before going into some details, I would like to give novice traders and the ones just beginning with Technical analysis some advice. I leave it to you to judge the points I made below, but trust me I have accumulated those by mostly experiencing it over the course of some twenty odd years. One...
1. Go online and connect with other traders, ask the right questions (keyword: right) and talk shop. Joining TradingView is the best decision I made by far since I started trading. Social networks add value and my trading has improved a lot by being exposed to different ways to trade and by being able to see what works and what does not. But never trust a trader...
Worth a read, don't be lazy lol =D Disclaimer: I do not benefit from any of these books or from amazon.com -The Risk of Trading: Mastering the Most Important Element in Financial Speculation (Wiley Trading) -Global Macro Trading: Profiting in a New World Economy (Bloomberg Financial) -The Psychology of the Foreign Exchange Market (Wiley Trading) -Day...
1. Trading is not a get rich quick scheme. It is a normal investment that gets traders return on capital. Have you ever met a trader making double-digit percent return per month on a consistent manner? Trading professionally with proper money management would likely get you a return of few percents a month. From my personal experience a 3-5 percent return on...
POTENTIAL SCR*W FACTOR 1. Must have a centralised price feed to insure reliability of quote. 1a. There should be no delays, re-quotes, rejections or manipulations of price. 2. Check fine print of contract for any unfair rules they may impose upon you as a trader. 3. Are there conditions in the broker agreement under which profits can be made void and if yes,...
BROKER RISK PROFILE 1. Must be regulated by a regulatory authority. 2. Must have a (relatively) clean regulatory record. 3. Must have they been in business for several years. 4. Must have a segregated bank account for holding retail client funds. 5. Must be a member of a compensation fund, which compensates losses (up to a certain amount) in case of...