DISCLAIMER: Hi everyone, I'm new to trading and this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas".
Last week I published a small "idea" for a quick scalp on the CADJPY. I noticed an uptrend that I didnt expect to go past a...
SOME WORDS FOR NEW TRADERS:
1. Learn from the Ideas in tradingview, pay attention to trading logic (why did this author want to long/short? )
2. if you can not understand the idea, or u disagree the idea, then dun trade it.
3. if you want to trade based the author's idea, make sure u make a very detail trading plan for yourself. the entry, the stop loss, the...
I still remember when gold at 1366 area, a lot of ppl questioned:
It is obviously an uptrend? why u want to short?
or:
The fundamental wont' support gold to go down to 1200 again any more.
and now gold is 1182.
The key thing is not whether you guess the direction correctly or not.
it is about whether u want to buy low or sell high.
I also dun know what kind of...
I strongly recommend everyone to read the new blog post from tradingview, as it advises users to be carefull from service sellers here at the website. Please read the 5 points caefully here : blog.tradingview.com
This is not the first time i publish this post. But some new followers may haven't had a chance to read it.. Suggesting advice on how you approach and...
The Reason I dont provide Trading Signals:
1. Trading is difficult and trading is involved with risk. if some people has no idea what is risk and just copy the trade without knowing how much risk he is going to have, it is very dangerous.
2. Trading logic is more important than trading signal, a signal may let you win one time but if you understand the trading...
This is a condensed version of my trading plan. I follow this plan faithfully every day, It is the foundation to my trading. I mentioned in my approach segment of this trading plan that I build my strategies based on the tactics within my playbook. All the tactics I use to build strategies I have listed here on tradingview and they are as followed:
Chart...
Technical Analysis is not an exact science, but rather an art form. Before going into some details, I would like to give novice traders and the ones just beginning with Technical analysis some advice. I leave it to you to judge the points I made below, but trust me I have accumulated those by mostly experiencing it over the course of some twenty odd years. One...
1. Go online and connect with other traders, ask the right questions (keyword: right) and talk shop. Joining TradingView is the best decision I made by far since I started trading. Social networks add value and my trading has improved a lot by being exposed to different ways to trade and by being able to see what works and what does not. But never trust a trader...
Worth a read, don't be lazy lol =D
Disclaimer: I do not benefit from any of these books or from amazon.com
-The Risk of Trading: Mastering the Most Important Element in Financial Speculation (Wiley Trading)
-Global Macro Trading: Profiting in a New World Economy (Bloomberg Financial)
-The Psychology of the Foreign Exchange Market (Wiley Trading)
-Day...
1. Trading is not a get rich quick scheme. It is a normal investment that gets traders return on capital.
Have you ever met a trader making double-digit percent return per month on a consistent manner?
Trading professionally with proper money management would likely get you a return of few percents a month. From my personal experience a 3-5 percent return on...
POTENTIAL SCR*W FACTOR
1. Must have a centralised price feed to insure reliability of quote.
1a. There should be no delays, re-quotes, rejections or manipulations of price.
2. Check fine print of contract for any unfair rules they may impose upon you as a trader.
3. Are there conditions in the broker agreement under which profits can be made void and if yes,...
BROKER RISK PROFILE
1. Must be regulated by a regulatory authority.
2. Must have a (relatively) clean regulatory record.
3. Must have they been in business for several years.
4. Must have a segregated bank account for holding retail client funds.
5. Must be a member of a compensation fund, which compensates losses (up to a certain amount) in case of...
FINDING TRADE CANDIDATES
You can only profit from that which you can anticipate. So here I describe in detail the steps I take to identify potential trading opportunities. I ensure that as many ideas as possible are taken into consideration. I list 13 concrete steps to do this and how to prioritise the trade candidates. One of those steps, indeed, is scanning the...
REASONS TO TRADE
I write in detail why I trade, what I find appealing about it, what motivates me and why I believe I can be a good trader, based on my characteristics as a person and my skillset / competency profile. Tip: its important to be honest in the assessment of yourself and its wise to include input from others to objectify your profile.
MY APPROACH
I...
