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????