Friday, May 04, 2012

Setting a Time to Trade

Making time to trade is hard when you are have other distractions around. I stopped everything I was doing to try and make this trading for a living thing work - two years ago. Without so much of a safety net...

Was it a wise move to singularly focus on something you really like to do?

I know that I have a habit of becoming "slightly" obsessive about wanting to learn new skills. I have always been able to be learn new things very well, very what happened in this case?

Still Alive and Kicking and Trading EURUSD

I'm baaaack! And waaaay better too!

It wasn't so much that I was AWOL from this blog (well, maybe just a little). It was just that I was clearing my brain. After coming close to blowing up my trading account yet again - it was necessary to take a really big vacuum cleaner and just suck out all those cobwebs.

I made a quick decision to get more education when the new Bullet Trading course came up on
It was almost a no-brainer. Here's a guy (Rob Wilson) who is very successful trading EURUSD on 1Min charts. See the match??

Friday, April 13, 2012

Groundhog Day with EURUSD

Sometime in February this year, my account took a huge hammering. I thought I might have been living in Groundhog Day. It was worse than a the usual roller coaster ride of a trading day on the EURUSD.
Yes, that is the picture of my live trading account. I was getting these type of daily pips: +50pips, -25pips, -25pips, +30pips, +15pips, -40pips.

Jeepers! With results like these, I am not surprised why a lot of people give up trying to trade. Actually one wonders why I keep going.

Saturday, February 18, 2012

Just Breathe While You Trade - Part 1

I've watched a lot of guys through the years, and they hold their breath until they finally win The Big One, thinking then they can exhale and chill out. You have to breathe through life, man. Have fun.

Lee Haney won Mr Olympia (8times) in a row. I know close to nothing about body building but this quote is just so reminiscent of trading.

I have been putting into practice 2 valuable lessons this week. And they seem to have improved my trading a whole lot. By a whole lot, I mean leaps and bounds.

Monday, February 06, 2012

Keep on Singing Trying, Don't stop Trying.

Keep on singing Trying, Don't Stop Trying
You're gonna be a star trader some day....

Sung to the the tune of Helen Reddy's Keep on Singing. (Yes, I am that old).

I am always wary of trading on the Monday after Non-Farm Friday.

Wouldn't you know it, the first two trades were duds? But sometimes, you just gotta keep on trying.

Sunday, February 05, 2012

T'was the night before Non-Farm Payroll...

Twas the night before Non-Farm Payroll report,  when  all through forex land there wasn’t a sound,
Not a currency was stirring, not even the GBP.
All the traders were excited, their  anticipation growing,
All  orders consolidated, for this monthly announcement they had been preparing.

Deep in my thoughts, were of  the trades I had done.
Throughout this Non-Farm week, I  was tossed up and down.
I had experienced my account and my knees go weak,
Would I or would I not, on this night, find the profit I seek.

Monday, January 30, 2012

Less trading but surprisingly, better results.

"The market is one of the greatest teachers. It reveals itself to all of us each and every day if we are willing to pay attention. Too many times we try to box it, label it, or beat it."

Raghee Horner: ForeX Trading for Maximum Profit: The Best Kept Secret Off Wall Street

I haven't been trading much this last week because of Chinese New Year celebrations. It is our equivalent of Thanksgiving and Christmas all rolled into one weekend.

Wednesday, January 18, 2012

Old habits die hard! So I'm learning to kick them, one trade at a time.

"As I studied the problem, I saw that it wasn't a case that called for reading the tape but for reading my own self."

Edwin Lefèvre: Reminiscences of a Stock Operator (A Marketplace Book)

One year after my venture into trying to trade for a living, I realized that trading was a lot more about psychology than having the "holy grail" of a trading system. Albeit, you need to have some kind of system to base your trade entries. But it's evident that even with a 50% win ratio, you can make money while trading.

Monday, January 09, 2012

Evolution of a trader - spotting stochastics divergence on a chart.

He looked at me and furrowed his eyebrows. "You sure you want to trade?"
"That's why I am here."
"Well, it's not easy."
I couldn't agree with him entirely, but I nodded. "I know."

... Rob Booker: Adventures of a Currency Trader: A Fable about Trading, Courage, and Doing the Right Thing (Wiley Trading)

I may or may not be getting back my trading groove.

Sunday, January 08, 2012

How to display trade history on MT4 charts.

Hey everyone!

My friend Chris asked me how I viewed my trades on the Metatrader charts.

I just found out how to do this recently while looking on the internet.

Here is a quick video on how to put the trades you have taken in MT4, into the charts.

Tuesday, January 03, 2012

Chasing those pips on my first trading day of 2012

"The other qualification is "PATIENCE" to wait for the opportune time, when as many factors as possible are positioned in the traders favor. Poise and patience are the close friends of successful traders."

... Jesse Livermore - How to Trade In Stocks
The classic formula for understanding timing, money management, and emotional control

What do you do when you have days where you make a great market call. Did not take the trades. And then, see it move in the direction that you made the call by 50 or 60 pips? Then decide to go in, and every single trade in that direction is wrong????