Patience: Mental Endurance in Trading

Trading is a business where "we get paid to do nothing, we lose money when we do too much."

Continue Reading

The Trading Plan: It Sucks, But it works!

Writing your own trading plan is like going to the hairstylist, no one likes the process. Yet, it will make you look good!

Continue Reading

An Hour Video About Why 95% Trader Failed by Wise FX

It is not by implemented the wrong strategy or indicators. You may have the best strategy and $2000 worth indicator or EA, but still ended up losing money. So why, do we failed?

Continue Reading

Find the Balance: The Yin and Yang of Forex Trading

Damage is part of the battle, recovery is essential , victory is the objective - Sun Tzu, Art of War

Karate Chi

Yin Yang. 

Action and reaction. Impulse and Corrective wave. Profits and Losses. Positive and Negative. Duality exist everywhere.

Dian L. Chu, the market analyst and author of EconMatters wrote:

"The theory of quantum mechanics and Einstein's theory of relativity (E=mc2) have taught us that matter (yin) and energy (yang) are inter-related and interdependent.

This interconnectness of all things is the essense of the concept "yin-yang", and Einstein's fundamental equation: matter equals energy." 

Supernova: Knight, Princess and A Shooting Star

I started to learn about the quantum mechanics when I read about Supernova: Ksatria, Putri dan Bintang Jatuh by Indonesian author Dee.

It is a great novel on quantum psychic. It described: Mandelbrot, fractals, chaos theory and messiah concept in a spectacular way.

Since then, I am interested to learn more about the Bill M. Williams chaos theory trading methodology.
Bill's indicator consist of: Alligator, Fractals and Awesome oscillator and the basis of the methodology is the chaos theory.

However, whatever your trading method is always remember this important concepts:

• Find the order in chaotic market with Market Rhythm
• Stop trading when you hit the certain loss in a row. Take a rest. Re-balance yourself.
• Accept that a loss is the part of the game.

Continue Reading

3 Things To Wait: Trader's Guide to Maximize Profits

"To wait is excruciating for some. For trader, waiting is gold."

Desktop Clock

One of the main distinction between successful trader and mere human are their ability and willingness to develop their patience and persistence.

The true test to our persistent is when we are asked to wait. Remember the feeling?

Now there are three things you need to wait, when you are in front of your screen trying to make a pip or two.

The Market Hour

One of the thing you need to wait when trading foreign exchange is the market hour. Market hour depends on the pair you trade. Every pair represents a nation or a union, such as Euro representing European Union.

And every market or nation has its own 'rush hour'. The hours when the market is moving fast, real fast. 

The tool I use to mark the Market Hour (session) is Forex Market Hours software.

Forex Market Hours

           

CONFIRMATION


After waiting for the right session for the right currency pair, then it is time to set up the chart with our hand picked technical indicators. 


Waiting for confirmation depends on your own choice of method. Be it breakout or reversal trading method, you need to wait for the price action to be confirmed. How many times do you jump into a trade, without a single analysis, just because you see the price moves wild?


Wait For EXIT


Another difficult task of trading is to decide when to exit, and actually executing that decision. This still related with your trading system and money management method.


The way to help you find exit is to plan your exit before you enter the trade. It is like setting the path to emergency exit. You don't want to get trapped in fire do you? So, plan your trade and trade your plan.

Armor Games

Remember, Keep Trading Simple!

Continue Reading

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. 

1. Your Mindset 
2. Your Money Management
3. 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.

Continue Reading

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.

Continue Reading

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"

Continue Reading