ArrowFX | Trading the Market Rhythm: May 2011

May 29, 2011

Facebook Nation: The Cashless Society Game

"Facebook is changing the world, again!"

The world already welcome the concept of the Facebook, as a huge digital database which contains virtually all of our private information.

Now Facebook is taking a step further to virtually and literally change the global financial structure.

The Facebook Nation

Right now, it is a global reality that you and most of the people you know are, in one way or another, citizens of the Facebook Nation.

DigitalbuzzBlog

The Facebook's success in capturing a near global monopoly has now given it the ability to dictate an economic structure to its user. Whether they are producers or consumers, means that they are controlling both the upper and lower loops of their virtual economy.

The success of Facebook also positioned them in the rolls of banker, retailers and governor.

According to the news release on Marketing Week, "Every social game developer on Facebook will have to offer the social network’s virtual currency credits by 1st July 2011 as the scheme comes out of beta."

Therefore, every game developers on Facebook will have to implement Facebook Credits as a payment method within their games. The games industry alone already accounts for 70% of the virtual transactions on the site.

We may see what appears on the surface as a simple online marketing tool to help Facebook in embracing larger niche market share.

But the true consequences to their hundreds of millions of users is that Facebook have effectively achieved the role as a pioneer on envisioning a world without cash. The cashless society is already here.

May 23, 2011

Online Trading: A - Z Guide, Not!

"The Quick Brown Fox Jumps Over the Lazy Dog."

How much do you need to know about trading?

Please. Ask yourself one more time.

One of the youngest successful Indonesian stock trader: Ferdie Darmawan in his website, share about how one person ends to be a 'walking-encyclopedia' instead of action-taker.

He or she may knows a lot about any methods that actually works. But, never take any action upon his or her knowledge.

There are actually guides every professional trader claims to be a golden rules of trading.

However, this guides is not about fancy-colored technical indicator.

This is about you.

Your Mindset
Your Money Management
Your Method, the Three M's

To make you understand better. Imagine this way:

The three M's is the horse. You need it to be strong and healthy. Feed it every day, as you feed your mind with healthy foods and thoughts. Train it, make it habit to follow your method faithfully.

Whenever something gone wrong, treat it with good money management.

Last thing, Never put the cart before the horse.

Don't trade if you think that this is the way to ~~make~~ earn money fast. Don't trade if you open an account based on what you read on the net, forex broker ads, or on this blog.

Do your homework!

Study:

Support and Resistance
Trends
Fundamental analysis
Risk management

Remember, Keep Trading Simple!

P.S: You may print the horse picture and keep it in your wallet. A good reminder on how's life works.

Double your $10,000 Before 2011 Ends Trading Gold Online - For Dummies!

Please read: Red Dragon's Secret to understand why does the gold price's soar in the last 7 years. And it is likely to breach the $1,600 level before the end of 2011.

After we know, that there is a global plan to dump the U.S Dollar as the world reserve currency we sure also need to know where to put our money.

This is the step by step guide on how to earn money trading Gold online. Please consult with your trusted financial advisor and read my disclaimer. You are a real dummy if you follow every words you read here : )

Here are the Steps:

Open a live trading account on your chosen Forex Broker. Yes, we can trade online gold through forex broker. The symbol for gold is XAU/USD derived from Aurum, latin word for gold.
Deposit US$10,000. Leverage 1:100
Open 1 Lot Long (Buy) Trade of XAU/USD's Standard Contract Size (100 Troy Ounce/ Lot) if the price of XAU/USD is in an upward move above $1,500. Remember our target is $1,600.00 (please study the chart I provided)

Put it on example:

This is a very simple way trading gold online will benefit you with the concept of leverage.
With a 1:100 leverage, you can buy a contract of 100 troy ounce Gold ($150,000) with only $1,000 (margin required). But, if the price of Gold really hit $1,600/ troy ounce - you will get the profit of US$ 10,000

Because the transaction forex broker offered is derivative instrument, you will:

NEVER get the 100 troy ounce of physical gold.
Get only the difference between SELL price and BUY price.
Suffer a direct loss to your equity when the price of gold falls (if you are already enter BUY position)

Now, the ugly truth:

Always prepare for a Loss. If you have a 'Long' position, your account will suffer for every tick drop against your order.
To predict the market accurately is impossible. Period!
The broker is against you. When you win, they loose. Like it or not!
For every single day you keep your position open, there's a fee.
You may loose more than what you started with. You may even loose something beyond money.

If you never heard about forex online trading before, you may not be familiar with the example above. Therefore I suggest you to learn about it on the net. There are literally thousands of websites offering free online training.

You may choose from my list:

Babypips - This is my first step
Forex Factory - This is my favorite forex forum

Trading only suit for those people who are used to make their own decision.

Remember, Keep trading simple!

May 21, 2011

Market Rhythm: Introduction To The Heart of 4 Hours MACD Strategy

Whatever instrument you trade, be it currencies, stocks, futures, or options, getting a feel for the market is vital to your success.

Buying or selling on impulse is not trading. Head to Vegas if you have money to throw away. -fxtradeblog-

Hip Rhythm - Original Artworks by Bernard Hoyes

If you want to learn more about the market Rhythm. Please follow the link provided at the end of this post.

The first time I found about Market Rhythm is when I studied the 4 Hour MACD Strategy in Forex Factory forum.

At first I only watched over how to find 'easy' signal whether to buy or sell based only on the MACD Signal taught by Philip. And yes, it works.

Then, when I decided to study deeper about the strategy. I found the notion that "Base your trading decision only on what MACD tell you will lead you to disaster!!!" Oups!

So, I study more about the strategy and amazed about how generous he is. He has provided us a vast amount of information on the strategy. We can download the pdf and mp3 about the strategy.

And, when he said that the heart of this powerful strategy is to understand the "Market Rhythm" I downloaded the material and read about it and practice it with my live account. My heart filled with joy and amazed by how the market move by a natural rhythm that can be learned if you will.

After I learned about the Rhythm:

Be more aware about the market direction
Understand about how the market trend change
Finding high probability setup using the MACD and the Market Rhythm
Eliminate the fear to let my profit run and the greed to cut my loss short!

So, what is the Market Rhythm? Please read:

Source: Philip Nel 4 Hour MACD Strategy

To analyze the market rhythm, you may need to set up the Moving Average technical indicator. Believe me, this is far better than the 'moving-average-crossover-trading-system'

The primary set up (Metatrader4 trading platform):

Exponential Moving Average

8 EMA, Close
21 EMA, Close

Simple Moving Average

89 SMA, Close
200 SMA, Close
365 SMA Close

Time Frame : H4 - The strategy was designed for the 4 Hour time frame to generate only the high probability signals. Later, you can find how to use the philosophy of the strategy on the tighter time frames.

This is the H4 chart of EURUSD today (May 21, 2011 - Before Rapture)

You can see the movement of the market from April Fool to Friday the 13th

The market shows the strong up and down trend respectively.

Now, do you see the arrow?

Market Rhythm means the market moves in waves, filled with the beat of the universe, almost like a living creature.

When the market is moving up trend, she will need to pullback before she continues. And the pullback is guarded by the 8 and 21 EMA.

If the price fall below the 8 EMA, there is a great chance it will reached the 21 EMA - the common place to retrace.

But, if she broke the 21 EMA whether up or down. Then you need to see where are the 89 and 200 SMA. They are the next target if the 21 EMA successfully breached.

P.S: This is just an introduction post. You can follow me on twitter and rss to know the updates.

thanks for visiting my blog.

May 17, 2011

Does the Market Rhythm Exist? Ask the Cat!

"Somebody has told you that the Market is random and no body can tell where it will go? He was wrong and right at the same time. Let the Cat tell you!"

A cat?

Yes, a cat. Before we talk about the cat. Let me ask you. Do you believe that the Market is truly random?

Do you really believe that nothing can predict where the market is going? Not even a crystal ball?

Do you study chart pattern religiously and believe that impulsive waves always followed by corrective waves? Or do you look at your chart such as an astronomical guy looking for a shooting star and wishes that the market will fall after you see some?

Both of you, yes both of you is right and wrong at the same time. The Market is random, and efficient simultaneously.

Ok, now let's get back to the cat.

Yes, we are talking about the famous Schrödinger Cat.

Source: Toy Anxiety

For those who never heard about the poor kitty. In the 1930s, Schrödinger put a cat in a box. Closed box. So that we can't see what happen inside.

What's inside the box? Well, you can see it on the picture above. The box actually was an experiment device.

It contains:

A Radioactive material
A Cat. Alive at least before it get into the box.
A Geiger Counter, It works like a censor.
A hammer attached to the Geiger Counter
A vial of poison. Hydrocyanic Acid to be specific.

If you ask me, I will tell that it was a killing device. Poor little kitty.

Schrödinger experiment works this way. After we closed the box, the cat will be sealed from the outside universe. We can't see it. We can't hear it. We can't sense whether it already died or still alive. It's a paradox.

The cat will die if :

The radioactive material release particle (remember, the radioactive material was so small that it was equally probable that it won't either.)
The particle sensed by the Geiger Counter thus
The hammer will hit the vial of the poison.
Hydrocyanic Acid will fulfill the box with the cat inside. Results in Kitten's Holocaust.

This experiment usually last for an hour. If in one hour the material didn't released any particle, therefore the kitten will be able to see tomorrow's sunrise.

Now, what happened to the cat during that dreaded hour is no body knows. The cat is dead and alive simultaneously. This state is called as SUPERPOSITION state.

I will leave discussion about the kitten just about now. You may read the title of this post again.

Does the Market Rhythm exist?

If we ask the cat, it will answer, "Meeeeeooooooooowwwwwww....!"

(translated: "I don't care about the market. But, depend on how you look at the box...errrr .... the Market. Maybe yes, maybe no")

Yes, It will all depend on you. There is only one reality. YOU!

If you look the market such as a random thing. The movement is impossible to track and predict. It will be that way. For you!

But if you look at it, such a way a surgeon look at his subject. Than, you maybe achieved the skill needed to be successful and prosper from the market.

P.S: This is the introduction post about the Market Rhythm on 4 HOURS MACD Strategy. Yes, I believe in the market rhythm. If you want to know if there is any updates. You may want to follow me on twitter or rss.

May 15, 2011

The Red Dragon's Secret Plot to Dump US Dollar

"The Dot Com Bubble...The Subprime Mortgage Crisis...and Skyrocketing Gold's Price!"

Now

"Prepare yourself for one of the most diabolical threats to your wealth so far. -Doug Casey-"

source: globalpoliticalawakening.blogspot.com

Casey Research made a presentation about why Gold value increased vastly in the last decade and why it should be taken seriously. The report titled China Secret Plan to Dump the US Dollar

It started in 2003

Chinese Communist insider was worried about their massive holding of 403 billion in US$
almost 25% of Chinese GDP

Because U.S government:

Spending $404,000,000 on military budget triggered by the 9/11
Federal printing presses are working at warp speed, result in BILLIONS in inflation-feeding bailout Dollars. A Careless monetary policy
Has $3,900,000,000 of U.S National Debt

At a news conference, the Chinese Premier Wen Jiabao stated: "We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried."

Chinese economist forecasted that the US government were leading their currency to the path of destruction.

So, China did what any sane investor would do. They devised the plan to protect their assets and investments.

They started with one thousand TONNES of gold.

source: emirates247.com

Recently, China shocked the world by revealing that they controlled 33,890,000 ounces of gold. That is an increase of 75% of Chinese saving in gold over the past 6 years.

And then on the G20 Summit which are held in London, 2009. Chinese, Russians with several of their crony nations have proposed

And then on the G20 Summit which are held in London, 2009. Chinese, Russians with several of their crony nations have proposed:

To DUMP the U.S Dollar as the world's reserve currency

If this happen, the effect will be global. We can't blame all the way to China.

Because, even without Chinese plan, the U.S Dollar has decreased over 20% of its value in the last 7 years.
You can see it clearly on the graph posted. Below is the USD Index against 6 major world currencies.

And, why the Chinese and shrewd investors around the globe are investing in gold?
Because: While gold's price is fluctuating even on daily basis, its purchasing power has endured.

May 12, 2011

To Trade or Not To Trade - That's The Question?

When everything is in place, Pull the trigger!

The two most known symptoms of bad trading habit are these:

Over Trade
Analysis Paralysis

Over trade is taking more positions than they can handle. It is different from scalping.

Scalping is a trading method to take little yet decent profit and needed a skillful trader to do it successfully. They may seem like over trading. But, they trade when everything is in place.

Over trade on the other hand, is emotional driven trades. The problem with it is, what you see is not what you get! The price goes up, your gut tells you, "This is it!" It drop seconds after you enter the market.

When we put our emotion into our trading routine, it will be hurt when the market prove that our belief is wrong. The common solution for it is to make your mind ready to suffer a loss.

Analysis Paralysis.

When you learned to much, you will eventually reach the states of diminishing return.

Read the title of this blog.

Don't fall trap to forex trading ads. They are all mean to lure you. Nothing else.

Trading is never easy. In fact, it is hard as hell.

But, trading can be simple. It should be that way.

When you push the 'New Order' button. What you see?

Right, either BUY or SELL. Very simple. But, because they want to sell you their seminar, books, video etc. Trading start to seems very complicated.

Look at your MT4 or trading chart right now. How many indicators are there?

How many fancy colored lines are there?

The more indicators or that 'things' on your chart, the more time and effort on your part to properly analyzed it. Keep it simple!

Cheers!

May 11, 2011

3 Things To Do Before Trading

"Trading impulsively is the sure-fire way to destruct your account"

I know. Because I have done so.

Buy when the price goes up. Sell when it goes down.

However, after I put my position the market 'always' going against my order.

After I blew up one account after another, I start to make it a habit to step aside before taking any action. Especially when I thought that this trade will be perfect!

So, I found doing certain things before taking any trade would help me to trade better

Calculating Daily Range

Impulsive trader like to wait for the price to go to their expected direction, and after it reaches the peak of the move they enter the market. It will go against them in no time.

This happen to the 'Fear' factor in our mind. The saying, "If I don't see it, I won't believe it" is responsible for it. Human are always in fear to what they don't know. Therefore when they are trading, they will wait to see the price going on their behalf.
To reduce the pressure to impulsively trade like this, We can try to calculate the average daily range.

For example, if EUR/USD tend to move 178 pips/day (like shown in the picture) and the 'pips to open' is -20 (20 pips below the open price) there is still probability to achieve a profit of 100+ pips if we put SELL position.
How if the market goes against us, like always? The answer is, there is no perfect system therefore before any trade, you should be ready to suffer a loss.

Determining Market Direction

What I mean is to identify the trend.
Use Moving Average indicator to identify the trend.
Avoid to trade against the trend.
CHECK THE NEWS! Sometimes there is a news significant enough to change the market direction.

Determining Possible Market Levels

Pivot and its Support and Resistance Levels already helped many traders that decided to respect them.
There is no perfect technical indicator. But, Pivot Levels are important because the forex major players are using them.
It is a logical decision to put your stop or limit near the pivot and its levels. Logic defeats impulse most of the time.

To Trade Better is a Matter of Choice

May 8, 2011

Learn Forex from Agnes Monica

Agnes Monica

Do you know Agnes Monica?

You will know her if you are:

Indonesian Teenager with a lot of energy, and like to watch pop-music festival ^^
Watched American Music Award 2010 - She is the gorgeous Red Carpet host.
Google her after you read this post.

You can find her profile on wikipedia

I knew Agnes Monica since I was a child. This is the cover of her kid's song album. The song she sang was about getting your ass to learn hard if you want to succeed at school. My favorite song.

She is a singer. A very top singer here in Indonesia. Has a great voice and cool choreography skills too.

I INSIST you to see her Video right now!

With her career and business as a world class entertainer, I bet if she has enough time to watch over a chart.

Yes, I think she is not into the business of forex.

However, I would like to write about her.

Because here in Indonesia, we all know what she wants. She almost always stated it to the public audiences about what she wants. "Go International!" It is her dream.

She know what she wants. It took years to achieved with lot of sweat and tears. But she did it.

Now, what if we have the mentality of Agnes Monica as a trader. What I learned from her is that she did exactly what she needed to do to achieve her dreams.

She do what she said she will do
She do it on time
She do it without being monitored and supervised.

What is my dream? I want to be a world class trader. Nay!

Life is not just about trading.

The Step by Step plan towards 'A Single Global Currency'

The following is an excerpt of a chapter by Ellen Brown from the new book by Global Research Publishers, "The Global Economic Crisis: The Great Depression of the XXI Century."

The London Telegraph in April 7 released:

"The G20 Moves the World a Step Closer to a Global Currency"

Ambrose Evans-Pritchard wrote:

"A single clause in Point 19 of the communique issued by the G20 leaders amounts to revolution in the global financial order."

"We have agreed to support a general SDR allocation which will inject $250 billion into the world economy and increase global liquidity,' it said. SDRs are Special Drawing Rights, a synthetic paper currency issued by the International Monetary Fund that has lain dormant for a half of century"

"In effect, the G20 leaders have activated the IMF's power to create money and begin global 'quantitative easing'. In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body. Conspiracy theorists will love it."

You must have heard about the single global currency. It is often related with the conspiracy theory: New World Order.

Where the world governed under a single government system.

It means that every financial system, social and security will be merged into one global system.

One of the tools most needed for this purpose is the single global currency.

Now let's put aside the conspiracy theory.

There is no way we can change the world system in one-day solution. But a step-by-step plan is already in the course.

European Union Single Currency Symbol

In 1999, European union merged their currency into a single currency: EURO.

The Britain refused to use it and stay with their GBP (Great Britain Poundsterling)

The Gulf Cooperation Council has the objective to establish a common currency in 2010. The proposed single currency: Khaleeji, which mean 'of the gulf'.

source: tradingmastermind

Gulf Cooperation Council has the members as follow: Saudi Arabia, Kuwait, Oman, Qatar and Bahrain. United Emirates Arab has decided to withdraw from the monetary union project after it was announced that the central bank for the monetary union would be located in Riyadh.

However United Emirates Arab will re-embrace the monetary union project only if the conditions change in such way that they pay the host for its central bank.

Source: tradingmastermind.com

The Asian countries has also prepared for the possibility in creating a single common currency to be used among ASEAN bloc (Indonesia, Brunei, Burma, Cambodia, Laos, Malaysia, the Philipines, Singapore, Thailand and Vietnam) plus China, India, Japan, New Zealand, South Korea and Australia discussed several issues on enhancing connectivity and empowering globalization.

To show its enthusiasm, China pledged to create a $10 bilion fund to build needed infrastructure in China and ASEAN states.

Susilo Bambang Yudhoyono, President of Republic of Indonesia

The President of Indonesia, Susilo Bambang Yudhoyono have stated his opinion that Indonesia and the global world would need to have a single global currency.

The main purpose is to maintain the balance of the global economic.

The significant proportions of United States and European Union's economy to the Global GDP (Gross Domestic Product) means that if they fall, the world will fall with them.

He hoped that the East Asian would be a new power in the world order.

"This is the balancing of power. If they group together (America, European and Asian), one of them will be the sustainer." He said.

For further reading, please visit: The Secret Plan For a New Global Currency

on the marketoracle.co.uk. It is the Free Daily financial market analysis and forecasting publiher.

Great Tools to Identify Support and Resistance

Thanks for THV Team on Forex Factory

I would like to show you a simple indicator called Fibonacci Pivot that helped me much in identifying support resistance levels in a blink of an eye.

The simple pivot indicator and calculator are the tools that have been with me since the first time I know about forex trading. I have used to calculated it manually. Now, the fibonacci pivot is quite a time saver.

Below is the screenshot:

Before using Fibonacci Pivot Indicator

After Applying Fibonacci Pivpt Indicator

Before use this indicator effectively, you need to study the basic usage of pivot, support and resistance.

A few tips on using the pivot:

1. Make your decision whether using a breakout or reversal trading strategy.

2. Watch out for the pivot level (white), if the price is near the pivot level better to stay out for a while until it confirmed its direction.

Ready to insert it to your chart? This works on MT4 Software and shows as custom indicator.

To add any custom indicator to your MT4 click here

Want to download the Fibonacci Pivot Indicator? Click Here

May 6, 2011

The Purpose of Trading

I talked with a friend this evening.

We were sharing anything from workplace to our family life.
What I remember the most, is that when he talked about a purpose.

''What is the purpose of praying?'' He asked me.
''It is to get us connected with our Kreator, right?.'' He continued.

source: baby-pictures.org

He then told me about a moment when the prayer become very intense to a level none will able to distract. When the heart filled with joy and the warmth of His presence.
It is never easy. Concentration and focus are the main ingredients.

What happen most of the time: distractions come. And when it comes, I may forgot the purpose of my prayer. giving up to my restless mind while still in praying positions. The duty to finish the prayer may be done, but the purpose of it is not fully reached.

When it comes to trading, do I remember the purpose of it?

Do the feeling of excitement replaced the true purpose of growing the capital on a consistent basis?

Be it scalping or trend following. Fundamental or technical. They are only our medium to fulfill the purpose.

"Life is not just about Trading"

3 Solid Questions on Forex Market - Part Two

To know when to trade is crucial. So we can preserve our mental and psychical fitness before entering any trade.

source: forexsignalscope.com

Yes, I am talking about Forex Market Hours. A simple concept when understood will save your energy only for those rewarding moment in a day.

As a beginner, I have spent around 16 hours a day watching the market moves. Most of it was on the opposite direction with my entry. I live in Indonesia (GMT +0700), used to enter the market at 6am in the morning only to see EUR/USD going nowhere.

And, I had to loose appetite on my lunch to see how quick the market moves. Yeah, the European session started around my lunch time here in Jakarta.

What I remember from this experience is that, I started to see forex market chart in my dream. Damn!

Now I write this post to thank the website: forexmarkethours.com

It has been around with me since 2008.

The Forex Market Hours v3.0 will give us the clue on what session we are. Whether it is Asia, Europe or New York.

The lesson are these:

The currency will move at a time when the people in that country are starting their day. (EUR and GBP will move on the start of London session)
Be also aware of the Opening/Closing of the Equity market
Around lunch time of the major country, the market usually reversed against its previous direction (retraced) and will likely to resume after a moment or so.

May 5, 2011

OANDA News Aggregator - The New ATNABTU

OANDA News Aggregator

I writing this post using the Google Chrome extension: Blog This!

Well, let us see what am I going to write.

Oanda News Aggregator. Have you ever heard about it?

It is a news aggregator, what else can I say?

But, it is really new. The name of course. It used to be ATNABTU, abbreviated from All Their News Are Belong To You.

You should find about ATNABTU whenever you search for Forex News Aggregator. Well, it doesn't help much when it comes to trade. Because the news posted in this aggregator are derived from many forex websites.

It is like a forex news supermarket.

This tools actually help those traders with no news feed. Whenever I see a significant moves on the market I will type ATNABTU on my browser and searching about any relevant news.

Like what happen today:

Do you see that BIG RED BEARISH CANDLE?

You can find out about it on ATNABTU - Oanda News Aggregator. It is when Trichet report that ECB will wait the rate hike. A sign of risk averse news, which make the EUR move south.

So, why wait? Check about it right now.

3 Solid Questions on Forex Market - Part One

"The question many ignored, that's why only few survived"

If you know the answer to these questions, you will increase the probability of successful trading.

Source: robertjrgraham.com

Why does the market move?

Yes, the market moves up and down. Sometimes it even don't go anywhere.

For trader with fewer screen time, the market may seem like it is moving in random. There is no definite pattern, therefore it is impossible to predict.

But the market has it own reason for every moves it makes. I really like what Henry Liu on henryliuforex.com said to me in his book. Think of the market as taxi or a cab than a subway or a train.

The price will travel to a place where there are more orders than anyway around.

So, why does EUR/USD move up?

It does so, because the market perceives (think) at any given time that EURO is more valuable that US Dollar.

The real answer is this: Forex market moves because of fundamental news.
Do you really think that the price act based on your MACD or Stochastic setting? If there is no news release, I think the market will go flat.

Nothing to trade, because there is no emotional aspect in trading that will break the support, resistance nor the trend line.

But news release will give us reasons. Reasons for us to believe that a certain currency is more valuable than its rivals.It is so important to understand Fundamental News. Understanding this will give you a bird's eye view on what actually happen on the market.

Result is, you will stay on the right side of the market most of the time.

May 4, 2011

My Forex Disclaimer

Source:

intip-film.blogspot.com

I copy this post from the THV Trading System Thread on Forex Factory by Cobraforex.
Made it my favorite, because I have walk the similar path described.

What path?

The Beginner

Started with a demo account. Possibly on MT4. Buy when the price is going up or Sell when it is going down. It is like have a monopoly money profit. I think I am ready to open a live account. I will be rich. I am born for this thing!

The Indicator Time

There was a time when my chart full of indicators. So many lines; support and resistance, fibonacci, gann grid, moving average, bollinger bands and many others.

When some indicators didn't worked at some time, I will try a new ones a day after. I feel a lost of self-confidence when my 'chosen' indicators failed me. However, there also times when I blame all system developer and indicators makers.

The Signal Service Threads

Deposit the account and now doing it completely different. Because I want to make easy money by copying other traders' trade.

When the account finally blown, blame goes to the damn traders that showed up with a bad trades.

The EA Time

I’m failing constantly because I didn’t follow the rules of my system, let a shitty machine do it for me, that thing has emotion.

Downloading free EA from the net and blowing that account again - but faster.

The start up again or give up time

Missing the trading feeling, after a half year or so, I want to start again.At least give it a last try.

But, how?

Ok, let's go from the very basic. I remember I have read about trend lines, support and resistance. Simple fibonacci retracement after big moves. Uh oh, don't forget to respect the pivot levels, psychology levels: round numbers etc.

"Eureka. It works!" Also, learn about money management. Start with discipline to only risk 2 percent of capital for a trade.

Now a successful trader is born.

Isn’t it like that?

So, the question of Cobraforex: "Why not stepping direct to the last part of that history instead of passing that painful path first, second, third and fourth time?"

Right, for the guys those are in the last stage of our trader’s carrier. You need to know the basics and if you still don’t know them, only trade Demo until you fully understand what you are doing.