A Malay Song by Jinbara

+30

1 play.
played divergence - short .  +80 then out at +30
Last played divergence 1+years before but of course, we knew the result......

Tick chart is okay

I have different opinion for tick chart today 100t...
Tick chart need to be used independently - no need to compare with min chart . They are different.
Tick chart is more sensitive than the min chart.

Sensitive

once handled properly , the reds became greens. :-)

More importantly: My set up remain the same

With & without indicator

I solved this dilemma 2 days ago.
How ?
Well, I have 2 monitors , 22"

So 1 monitor for watching price action, and another 1  reserved to indicators only.
Why I'm not thinking of this before ??
Not only that, I'm happy with my current  (868th...whatever ) set up.
Good for my eyes.
I hope it also good for my trading account....the saying " trade what you see....:-)

CL's early train

Moved too early--I missed it.

To improve execution

Set dom trigger stop entry order- dont use market order

-80

 

Error: Execution problem

1. need target in range market
2. time frames are important
3. execution : macd need to cross clearly
   
   

2min & 1 min , 30s & 15 s

Zig Zag before EIA, and then total chaos.
But I learn something about the time frame

+130

CL moved far already so I expect a ranging market . After entry, wiggling price made me nervous but at last,  CL short down. In a flash ,  price moved up after hit SR below. But I already locked a mini profit.
The 1st profit this year.

Lesson: Has a target during range market will make an easier trade

A good test

Yesterday is a good test for my CL set up.

Internet resume

at last after nearly a month ...my internet line is resume to normal with other ISP..a major company
I have a warming up session today

Created an Excel template

As I have much free time now, I created an Excel template than will enable me to record my trading in detail...some things cant be put in words like this blog -)

Termination of old ISP

I'm a very patient man.

To prove it, 3 weeks dead internet and I still cling to my ISP..Only a week good connection and then another 2 weeks of dead internet..If I still proceed with my patient demeanour,,then it is dumb.

Trading is very hard enough for 95% world population and I dont want to start new year 2011 with the same ole problems in 2010.So I give them my stop loss.But need another 2 weeks before new ISP comes in.

Meanwhile I have preparing my self with revised setup that I can write it on a business card.
Only 2 filters and 2 subfilters and I'm in..........( compared to old setups that have 5 filters, 3 subfilters.)

Yes, that is a damn fast setup. Any dead internet connection will screw it

"Sang" - Who cares if someone makes more than me on a trade?

http://www.sanglucci.com/education/the-psychology-of-trading/#more-1358
Who cares if someone makes more than me on a trade? Who cares if I didn’t get the whole move? Who cares if I sold out and the stock ended up doing what I thought it was going to do? Who cares if I missed a banger? The answer to all these questions and anymore you can come up with is…
NOBODY CARES, ONLY YOU! The market is the market and there are opportunities every second. If we get a couple moves we’re closer to where we want to be. If we don’t WHO THE FUCK CARES, more are on their way.
Do yourself a favor and tell your ego to go screw itself tonight!

Troublesome Internet

...made me lost focus

Am I ready ?? SIMulated

Adjust time frame

As I change my style to 'little bites' I have to

1. set chart to smaller time frame 30s.
2. use many H lines
3. 1 macd modified indicator that I will seldomly use :-)

Conquering Your Negative Trading Emotions

by  John  Prow  

The trader has two emotions that must be controlled in order to become successful. I call them ‘the two sides of a coin’ and they are commonly known as FEAR & GREED.
The beginning or new trader will first encounter FEAR. There are two types of FEAR. The fear of losing money and the fear of being wrong.
The fear of losing money usually derives from a trader risking money that should be used for the rent, food, children’s education etc. ‘Scared money’ will render one incapable of pulling the trigger when a trade setup comes along. The only way to overcome this paralysis is to be well capitalized with funds that you can risk.

The fear of being wrong is simply that part of all of us that feels that to make a wrong decision is reflective on our personal competency. The cure for this is to simply realize and accept that losses are part of this game. Think about this? A baseball player needs to hit the ball once for every three times at the plate and this will get him into the Hall Of Fame. Whenever you feel the fear of being wrong, just remind yourself that… "My approach for trading has both historically and real-time produced over (number)% winning trades." This will give you the confidence to step up to the plate and keep swinging. Also tell yourself that the only way to earn the big money is to get into the game. Have confidence in your trading system that when properly executed, it will make much more money than it loses.

So, why is GREED the flip side of fear?
Greed is caused by the fear of not making enough money. Traders who are greedy are often the exact opposite of the ones who are fearful. They have no fear and usually are very aggressive traders, which can get them into big trouble fast. Greed will usually lead to overtrading, failure to follow the trading rules, and not applying the system consistently. One of the biggest problems when greed sets in is the inability to know when to take profits. These traders are so bent on making a killing that they are never satisfied. If they have significant profits they don't even think about cashing out, as they want more. This often leads to the inability to see the trade turning against them and they will allow winning trades to turn into big losing ones.
One solution is to realize that making significant profits on a regular short time basis adds up quickly. This is best combated by developing or buying a sound system and executing the system flawlessly. Once you become confident in your system, you will no longer feel like "going for broke" because you know that there is always another good trade about to come along.

Nothing can sabotage your trading skills and profits like fear and greed. If they are a part of your “trading personality”, then you must address them immediately. Here are some of the traits that you need to identify and work to overcome:

Indecision: This includes the inability to make the trade or also known as “pulling the trigger”. Another area that indecision causes is the tendency to ponder too long on whether or not to make the trade. Often the trader will wait so long that they miss the trade completely or they will enter near the end of the move and end up in a losing situation.
Poor judgment: Fear can cause this problem because it can make you trade with your emotions, resulting in irrational decisions. This is the exact opposite state that you want to be in which is a calm and unemotionally attached one.
Inability to exit a bad trade: Fear can cause you to freeze up and not take action.
Inability to stick with a winning trade: Fearful traders will tend to exit the trade the minute they are up a few dollars. They are so concerned with being right or not losing that they figure that they are better off to take a small profit. Meanwhile this results in them missing the really big payoffs.
Exiting trades prematurely: In this instance the trader enters a position and then it starts to move slightly (notice I said slightly!) against them and they panic and exit the trade. The market then moves in their favor and they become angry and frustrated wondering what made them bail out of a good trade in the first place.
Stress: Trading is not easy as nothing is ever certain and risking money always adds to the stress levels. However, fear can amplify the stress many times, which in turn makes it hard to trade with a clear and focused mind. Ultimately it makes something that is already difficult even more so.
Lack of discipline: Fear will induce this state because it causes irrational and emotional decisions, which wreck havoc with the trader’s “game plan”.
Overtrading: In an attempt to get rich, some individuals will tend to trade way too often and buy more shares than proper money management would warrant.
Creating unrealistic profit outcomes: In this situation the trader never knows when to take profits because they are convinced the market will go their way forever. The reality of this scenario is that they end up giving back most of their profits as their greed blinds them to market reversals.
Throwing caution to the wind: In this case the trader fails to do their homework before they make the trade. Instead they go “with a hunch or hot tip”. Others will just see a stock that is on the run and jump in without thinking.

Tips for Overcoming Fear & Greed
1. Only trade with money that you can afford to lose.
2. Set realistic goals and realize that the tortoise wins the race. You will not turn $5000 into $1,000,000 in a year.
3. Work your plan. Practice being disciplined. Limit your loses, let your profits run.
4. Adhere to strict money management rules. Don’t risk too much on any single trade, you will encounter a string of losing trades and must have money to stay in the game.
5. Take periodic breaks from trading.

CL & ZS

I found that CL like to play positioning - it want to throw you away
while ZS like to play scalping - zapping...

Adjust a bit of my mind.

I'm back.

After 3+ weeks my broadband now ok as my ISP get their new server. During that period, I'm looking back a bit and now ready to implement my new execution style in trading CL.

It  rusty after a long break and If  I got USD 50 in next trading session. it is good enough.

Internet still down

Sitting still.

I see dead zombies :-)

3 Keys to Flawless Execution

By Steve Ward | TradingMarkets.com | October 18, 2010 09:05 AM

“The proper execution of your trades is one of the most fundamental components of becoming a successful trader and probably the most difficult to learn. Most traders find it is much easier to identify something in the market that represents an opportunity, than it is to act upon it.” — Mark Douglas
The Two Keys To Successful Trading


If we consider that the two key variables to achieving trading profitability are having a trading strategy with edge and positive expectancy combined with the ability to consistently execute that strategy, then assuming a trader has the first one (and developing this is a primary concern) then it is the consistency of execution that becomes the key focus; and indeed the main challenge for many traders.

It is useful at this stage to reflect on where you are at with your trading in relation to these two variables. Take a look at the diagram below and see which quadrant you are in. If you are in 3 or 4 then your primary goal is the development of a trading system/strategy with an edge in the market. If you are in 1 then you should theoretically be returning profits over time and the challenge for you is sustaining this level of performance. If you are in quadrant 2 then the primary challenge is execution. Identifying where you are, is stage one; stage two is then setting some appropriate goals and targets to move you towards quadrant one.

Flawless Execution
In my work with traders I have seen many of them find this consistent execution challenging. One of the key aspects that seems to distract traders is excessive focus on P&L and the outcome and results of the trade. That is the trader is so distracted by thoughts around outcome and money to be made/lost that they do not have sufficient focus on the key components of executing their trade to achieve the best outcome. Likewise traders who are low in confidence fail to execute their trades and take opportunities when they arise losing valuable potential profits.
To help with the above two challenges I encourage the traders that I work with to focus on the flawless execution of their trading strategy as opposed to overly focusing on P&L and results.
In the trading process we have 5 core components:

1. Monitor – watching the markets
2. Spot – spotting a trading opportunity
3. Enter – enter the market, place the trade
4. Manage – management of the position
5. Exit – close the position out

In flawless execution the trader focuses on the process of each of the 5 steps and aims to do each one as well as they possibly can. They evaluate their trading performance against the quality of their execution of the trade alongside it’s profitability.
Three key factors enable flawless execution – confidence, focus and discipline. Many traders inconsistent execution of their strategies can be linked back to factors that are encompassed under these three headings

By developing these three areas and shifting your mindset to that of ‘flawless execution’ you may find that the quality of your trading improves and you experience less high negative emotional states such as fear and anxiety. A focus on flawless execution is actually a preventative approach to many of the common challenges and barriers faced by the majority of traders.

Nine Practical Strategies To Enhance Flawless Execution
Below are the three areas of confidence, focus and discipline with some bullet point practical tips that you can take away and implement within your own trading to improve the execution of your trading strategy.
Confidence

• Profitable Trading Strategy With Edge In The Market (Positive Expectancy)

• Trade In Line With Your Current Ability Level – recognize where you are (beginner, novice, competent, expert, master) and trade an approach that is appropriate for your level of skill, knowledge and understanding. Anxiety and fear increase and confidence decreases when we are exposed to challenges that are too great for our perceived capabilities (See table below). The development of competence through ongoing education, coaching, mentoring and self-learning is absolutely critical in underpinning your confidence levels. Confidence is greatly underpinned by your competence!

• Trading In Line With Your Strengths, Interests and Best Potential For Profitability

Matching challenge and capability enables you to enter the flow state and trade at a higher level of performance. Where challenge exceeds capability anxiety, panic and worry are natural. Where challenge is too low for capability then boredom and apathy are usual.
Focus

• Process – focus on quality execution of each of the five stages of the trade model – what states and what actions

• Controllables – only aim to control what you can control!

• In The Present Moment – thoughts about the past and the future are not helpful in the moments of execution. Keep your attention in the now. Try this – get a ball or similar; throw it in the air; catch it. When the ball was in the air what were you focused on? Catching the ball hopefully! Not dropping it, or the shopping, or what you will be wearing tomorrow – your attention was in the moment.

Discipline

• Take Appropriate Risk (Low Risk for most people!) – high risk (outside of your psychological and financial thresholds) creates high emotion and specifically fear and anxiety – it stops many traders from entering trades, and it stops others from executing their stop losses and also encourages the taking of profits early. Low risk trading in line with your own personal threshold and trading capital and personal wealth makes for a less emotional more confident trading experience. A large majority of beginner traders who come to me regarding experiencing anxiety and fear in trading are simply taking too much risk!

• Trade In Positive States – tiredness, anger, frustration, stress are all states that are limiting to you trading to your full potential. High negative states impact on your ability to think rationally, to make objective decisions and to apply your strategy as blood flow to the ‘smart brain’ is reduced during these ‘negative’ emotional responses and your ‘emotional’ brain starts to run the show! Aim to trade when you are at your best, or close too! Think about a 1-10 scale where 10 is your Ideal Trading State and 1 is ‘get me away from a trading screen now!’ – notice the levels at which you feel confident to trade at and also those scores which are a definite no trade zone.

• Reward good trading and not P&L. Many traders feel good when they make money, and this feeling is often greater than the feeling of executing well but losing money. The focus here is on the monetary reward and not on the execution. This may sound OK to you right? If our goal is to condition flawless execution then we need to reward flawless execution. It is possible to make money through poor execution, through random gambles in the market – should these be rewarded? We need to associate ‘pain’ to poor trading behaviors and ‘pleasure’ to positive trading behaviors regardless of financial outcome. This is a challenging concept for many people and requires a change of thinking and mindset – however consider this… the difference between the best traders and the rest is that the best traders think differently! (Mark Douglas, Disciplined Trader).

Below is a table of the nine practical strategies. Take some time to reflect on which ones you have in place (perhaps mark this on the table) and then have a look at where there are areas for improvement. Select one that you feel will have an impact on your trading in the short term and set the implementation of that as a short term trading goal. When you are happy that is ingrained into your trading process come back to the table and select another one. Your goal is to cover all nine areas – be focused on flawless execution and see your performance improve.

Conclusion
Flawless execution is an approach to trading – a philosophy. It is all about setting yourself up to be successful and to focusing on execution and not on P&L. This approach may not be for everyone, however from the work I have done in training and coaching traders I know that for the vast majority of people the impact on your trading is likely to be extremely positive!
Focus on ‘Flawless Execution’ and feel the difference.
Steve Ward is a trader performance and psychology coach at Trade With Precision. He has over 15 years of teaching, training and coaching experience and has worked with home, proprietary and institutional traders and groups across Europe, USA and Asia including consulting on trader recruitment, selection, assessment, training and development. He is an active FX trader and a regular trainer at the London Stock Exchange

RECAP

3 scenarios:

a. trend (nowdays 10%) - breakout ....change of momentum.....trade 1st opportunity...no target, trails
b. mixed (nowdays 30%) - pullback.....stay of momentum....trade 2nd opportunity....has target
c. chopped (60%) - fade...... out of momentum.....extreme contra candles...has target

Candle types:
Doji....range market...undecided
Body....directional market...decided
Body plus leg...mixed...to be confirmed by next candle or ema

Mind state:
Zen Clear   :)

Bonus Pattern:
SU1

Set up
Price, EMA (previously WMA), standard Bollinger, micro line, MACD modified

Previous objective:
SU1 (USD 1000 move).... ha ha ha....silly me...

Current objective:
USD 70 per entry.....2 times per day: USD 140
Monthly target: 20 days x USD 140 : USD 2800

Against all odds

I have no option but to stick to the current provider as other ISP can't accomodate my request. Up to 7 days off.

So I have all the time to look back what I have been doing so far.Despite all  odds, the good thing is I still have the motivation to trade!

I also found that I done a lot of thinking while trading : "What if "- a symptom of nervousness.
To be succesful in trading, I need a VERY CALM MIND

Stop loss

Due to regular hiccups of my broadband, I decided to call their CS and told them I want to terminate the line.
I want to stop my further losses of opportunity.
I want to focus on my trading, not fixing line....I'm sure that I'm a super duper online trader if I'm in Middle East, Europe , Japan or USA.

Looking back the missed session...yeah, still a masterpiece

Masterpiece

Previous posting mentioned that I will trade between the lines...so I just drew all lines possible in my chart....: peak to peak, valley to valley.....nearly 20 lines criss-crossing previous day chart..and current chart.....I will let the lines projected towards the next day

Looks like a masterpiece to me  so I will not erase these lines as I did before.....

BTW, I found that MACD behave like TSI and vice versa..and some traders agreed..coincidence?

So I put in MACD modified with DMI ADX...but these indicators are not my primary tools... the masterpiece lines are neither my primary tool....my primary tool is my confidence..I need to build my tool..erp..build my confidence. Yes I know..cliche...but its true


CCC
Consistency in taking trades according to trading plan
Confirmation of market signals to get better chance
Confidence build-up
************************

Article by Pamela Wheatly

We are always looking for the perfect trading strategy – the one that will present clear
signals and deliver winning trades time after time. We know it doesn’t really exist, but we
are always hopeful! There are many strategies used by successful traders, so is it
perhaps the trader who is the winner, rather than the strategy? There is also the problem
of changing market conditions. Sometimes a strategy which has worked well for a period
of time suddenly seems to fail, or there are no signals, so flexibility is also important.
This morning I was watching a video clip that promised to reveal to me a ‘new’ scalping
strategy........... and I found it was exactly the same as one I already use, so there is
nothing new. There are just variations and refinements of strategies created using sound
technical analysis principles. If you understand these principles you will be able to
construct your own strategies. These will be the ones best suited to your particular trading
style and risk tolerance.

Once you have a well-constructed strategy which has been thoroughly back-tested, and
forward-tested in simulation mode, there are three more important things to consider that
go a long way to making winning traders. They are consistency, confirmation and
confidence (and I wasn’t looking for three words beginning with “C” – it just happened!)


Consistency
It is important to have faith in your strategy and to be consistent in your approach, because
you will have times (at least until you become experienced) when you have runs of losing
trades. A few losing trades are not an indication that you should change your strategy or
give up. Chopping and changing your strategy will never give you consistent results, but if
you stick you your rules and keep taking trades when the signals appear you will start to
achieve consistency. Successful traders keep taking trades, whenever a signal appears
that matches their criteria.

Confirmation
Confirmation of signals is critical! The more confirmation you have that a market is going
in the direction you want, the more likelihood there is of success. On the other hand, if
you always wait for all your ducks to be lined up perfectly, you will miss a lot of good
trades! A simple trading plan is easier to execute than one which requires a large number
of things to fall perfectly into place. So, always wait for confirmation before entering a
market.

Confidence
Once a market has given you an entry signal, and you have some confirmation, proceed
with confidence. It is often difficult to push that button, and quite often you will have a
losing trade; but if you persevere, follow your trading rules, and push through the pain
barrier, you will find your confidence grows; and as confidence grows your trading will
improve. This will in turn generate more confidence.

Trader's Oath

http://www.learntotradethemarket.com/forex-articles/a-successful-forex-traders-constitution-part-2/
by Nial Fuller
 
I am a proficient, disciplined and profitable trader. I enjoy trading to make a profit. I honour the responsibility I have to myself and to those who are watching and depending on me to be such a trader. I continue to educate myself on how the markets work and I also continue to educate myself on how the mind works so that I incur the necessary discipline to execute the right actions for my success. I know how to determine market direction and I have a simple trading methodology that has an entry and two exit strategies, one for profit, one for loss. My trading methodology feels comfortable to me, is easy to understand, obey and execute. I have a set of trading rules that make sense to me and I obey those trading rules. I always trade with a protective stop. When i find a trade, I create that trade and trade my plan. If my currency of choice does not fit my trading methodology, I look for another trade in another currency. If I cannot find a trade, I am patient until the market meets my criteria. Each trade either wins me pips or experience.

Trading between the Lines 2

After a long time....I scraped wma.....some said moving average is the most useful tool for most traders but I found that I could be distracted by it....It will be be replaced by pivot... I'm going into 'trading between the lines' concept...Going to learn about pivot....

So my lines of defence are:

1) Pivot (Learning stage)
2) Day OHLC
3) S & R

Pressure/Momentum  Indicators:

1) Modified MACD
2) TSI

Candle Patterns

1) Long Legs
2) Engulfing
3) Long Body (yeah...easy to remember...Longggg again )
4) SU1( this pattern is very good)

To make my chart pretty:
1) Bolingger Bands

Still, the ultimate tool is:
My eyes and brain :-)

Trading between the Lines

While trading breakout in essence is trend play, range trading can be used between OHLC lines but I need more screen time to do that. My account is small thus I need to begin with trading breakout 1st.

Missed the Rocket.....(Opportunity in CL pt 2)

Again, my youngest son decided to play my pc during CL opening , therefore I missed the rocket to the moon....I think I need to wait DST ended.....

 I tossed out that Stochastic..So my setup:

1) 1 wma (50)
2) 1 modified indicator - I named it 'worldbank'
3) Average volume 15 wma.
4) Counter check  indicator with HL,VL, MA. Range play >< 0, Trend play =0

Simple to see, simple to play.