Long GBP/USD
Entry: 1.58717
SL: 1.58470
Target: 1.59450
Units: 300000
Resulst: +$1144
We are traders and masters of risk. When you become pro you stop over analysing and all you do is sit there, and wait, and wait, and wait some more until you find the perfect trade. What I am saying is that the market makes all the decisions. Our only decision is to listen, feel, and respond to the market’s siren. Always and without exception. Remember, the market never lies. It is only we who lie to ourselves.
Saturday, March 31, 2012
Trade Long GBP/USD March28 2012 Wednesday
Long GBP/USD
Entry: 1.58717
SL: 1.58470
Target: 1.59450
Units: 300000
Resulst: +$1144
Trade GBP/USD March 27, 2012
Long trade GBP/USD
Units: 1780000
Entry: 1.58763
SL: 1.58450
Target: 1.59540
Result: Stoped out at 1.58450. $-487
Sunday, March 25, 2012
Trading results Mar.18.12 to Mar.23.12
Trading results Mar.11.12 to Mar.16.12
Trade 1 $1149
Trade 2 $-500
Trade 3 $722
Trade 4 $522
Total profit: $1893
Total trades: 4
Winners total: $2393
Losers total: $500
Winning percentage: 75%
Risk to reward ratio: 1:4.8
Trade 1 $1149
Trade 2 $-500
Trade 3 $722
Trade 4 $522
Total profit: $1893
Total trades: 4
Winners total: $2393
Losers total: $500
Winning percentage: 75%
Risk to reward ratio: 1:4.8
Wednesday, March 21, 2012
Disciple in trading involves being discipline in life...boring...but the truth
"This is going to sound counter intuitive but has worked for me since i began trading profitably.
You said : Let's say I have learned all the stuff I had to, I know all the basics, I am good in fundamental / sentimental / technical analysis
This isn't everything. You need that but you forgot the most important thing. And thats having the discipline, patience, and emotional control to be able to apply everything that you know. That is more important than fundamental and technical analysis.
I have an edge in the market and i repeat the process every day. I wake up at the same time, eat at the same time, go to the gym at the same time, and trade at the same time. Even my sleep, my diet, my workout training, is all part of my trading method. Even my free time during the day and weekend so i can have balanced life, is all part of my method. When i leave to go to the beach or the country side on the weekend, is all part of my trading method.
When you get to that level, you become profitable in a mega way. Trading to become mega pro isn't a job, its a lifestyle choice.
If all i had is my method, and technical and fundamental skills, without the rest. I would lose my accounts.
The reason i say all this is because i know it may seem like some god like thing to become successful in this industry, but it can be done, once you do the yards.
I always use the analogy of a pro Olympic runner. To become a pro olyimpic runner might seem like a god like thing, but there are people who do it. You need to be so serious about becoming a pro trader, that it's the equivalent to becoming a pro Olympic runner. Then you will make it.
You said it yourself, "the market has it's own rules". All you need to do is find a way to exploit those rules.
If anyone reading this thinks you can't make money. You won't. Knowing that you will do what ever it takes to learn how to make money in this industry is almost half the battle.
Yoda (star wars) says: You must unlearn what you have learned. A normal 9-5 job mentality and thinking like the 90% who lose is going to be the surest pathway to losing. You must unlearn what you have learned. Trading is almost complete and utter boredom. The doing is in the not doing. It's in the thinking. When you become pro you stop over analysing and all you do is sit there, and wait, and wait, and wait some more until you find the perfect trade."
Read more: http://forums.babypips.com/newbie-island/43737-do-you-have-edge.html#ixzz1ppG14P00
You said : Let's say I have learned all the stuff I had to, I know all the basics, I am good in fundamental / sentimental / technical analysis
This isn't everything. You need that but you forgot the most important thing. And thats having the discipline, patience, and emotional control to be able to apply everything that you know. That is more important than fundamental and technical analysis.
I have an edge in the market and i repeat the process every day. I wake up at the same time, eat at the same time, go to the gym at the same time, and trade at the same time. Even my sleep, my diet, my workout training, is all part of my trading method. Even my free time during the day and weekend so i can have balanced life, is all part of my method. When i leave to go to the beach or the country side on the weekend, is all part of my trading method.
When you get to that level, you become profitable in a mega way. Trading to become mega pro isn't a job, its a lifestyle choice.
If all i had is my method, and technical and fundamental skills, without the rest. I would lose my accounts.
The reason i say all this is because i know it may seem like some god like thing to become successful in this industry, but it can be done, once you do the yards.
I always use the analogy of a pro Olympic runner. To become a pro olyimpic runner might seem like a god like thing, but there are people who do it. You need to be so serious about becoming a pro trader, that it's the equivalent to becoming a pro Olympic runner. Then you will make it.
You said it yourself, "the market has it's own rules". All you need to do is find a way to exploit those rules.
If anyone reading this thinks you can't make money. You won't. Knowing that you will do what ever it takes to learn how to make money in this industry is almost half the battle.
Yoda (star wars) says: You must unlearn what you have learned. A normal 9-5 job mentality and thinking like the 90% who lose is going to be the surest pathway to losing. You must unlearn what you have learned. Trading is almost complete and utter boredom. The doing is in the not doing. It's in the thinking. When you become pro you stop over analysing and all you do is sit there, and wait, and wait, and wait some more until you find the perfect trade."
Read more: http://forums.babypips.com/newbie-island/43737-do-you-have-edge.html#ixzz1ppG14P00
Long EUR/USD March 21, 2012
Long EUR/USD
Units: 160,000
Price: 1.31958
Stop Loss: 1.31633
Take Profit: 1.32265
Result: $721
Tuesday, March 20, 2012
Trade EUR/USD & GBP/USD March 20, 2012
Trade 1: Sell EUR/USD, result $433, 13 pips
Trade 2: Sell GBP/USD, Result $1149, 38 pips
Monday, March 19, 2012
Successful Trading requires patience!
Patience is a really important factor in successful trading. This is where a lot of newbie traders fall victum of crashing their accounts. Once in a while we have the urge to do something out of the box. In trading we must always stay discipline and follow our plan 100%. This plan allows you to draw and setup your trading to precision like a sniper. We wait for our target and we take advantage with super precision. Patience is virtue. If you don't have patience to wait for your setup you might as well quit trading. Its quite that simple.
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