The Most Amazing Un-Triggered Order

Hi everyone,

Last night I had to go and leave the trading terminal for my wife, hardly. I just put on order so at least I won't lose the game.

This morning when I came back I found out that the price just shy one pip of triggering my order and before went to the opposite direction. It just so many times the price just touch and trigger my order before going the other way around, I would really like to highlight this one great coincident for me.

Watch it below..

Read More and Photos After The Jump...

Such a Pretty Setup

Just a quick update on earlier post the trade plan was violated so no trade was taken on USDCHF. It was looking good enough where the lower trend line is respected by price but there was no breakout to the downside, instead price show strength to go up thus no entry was taken. Anyhow I like the way former support now acting as resistance, coloured as orange in chart below.

Tomorrow is holiday for all market "Good Friday", I won't be expecting to take any trade tomorrow. The volume in the market is too thin and I don't likely to enter market on this condition.

Have a nice weekend everyone and see you on next post.

Read More and Photos After The Jump...

USD Still Weakening?

I doubt my ears as I've heard fellow trader expecting the US Dollar to gain strength within this two weeks. I don't think that it would matter much for him with his naked scalping technique. I barely see any connection from the economic calendar to his technique except for avoiding high-impact news.

Ok, today I found a beautiful setup in USDCHF with it nice down-trend and price is within Dynamic Area forming a nice triangle pattern.

What worries me is that today is Tokyo holiday and I will wait for London session to further see how price act and tomorrow is friday-holiday before the weekend. I don't think there would be enough volume to support this plan. Nevertheless it would be great to reduce my lot size.



I will only trade the breakout of this triangle to the downside and no other. Read More and Photos After The Jump...

Millionaire Traders: On CNBC

Hi everyone,

I'm now trying to gain my discipline and this is one of the video that I found that stress the word disciplined very much. This guy is very much looks devoted to market and he found his success.

Enjoy.

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Trading Is About Psychology

What differentiate amateur and professional lies great in psychology. It is the biggest thing that you must control in trading, for me it works to hold me from entering wrong trades. When it fails to hold, as a trader it means a great loss. Lose control of thy own self is the greatest shame.

My last short position on AUD/JPY was a good one but since I've entered only one position, I have only one profit target. It was only 50 pips shy to meet the target and the floating profit was +150'ish pips already. I would have taken the profit but maintaining the trade plan, I let it float before it rise slowly to my stop-loss.

This is where I lost control and it was full of impulse trading, trade after trade, even after squeezing out some pips later that night. In the end my newly freshened account balance shrunk. This is how to lose money in trading, "follow your emotion".

All that I'm doing now is forbid myself from entering any trade for today. I went off the office, cool off, figuring why I was so emotional and so on.

I'm now looking at EUR/CAD for it nice wedge formation on daily chart. Read More and Photos After The Jump...