Forex Tips - Sticky Note save the day

You must be wondering why you do the same mistake all over and over again. Even though you been through the same mistake and you try to remind yourself not to do it again. But when the same signal shown, you jump in again. Mistake over mistake, again and again, until you got frustrated with yourself. That's when you begin to yell at yourself, what a &**$*# stupid fool, why or why you still make that same mistake again. Need not to look further, solution is just a easy foot step away that you need to take, that's all. First, you need to know why your mind is doing that. This got nothing to do with your thinking, it's your subconscious mind that you are not aware of that react for you. Your mind is just like a hard drive in a computer with full of software load into it. Some of the software are programmed to tell your main controller to act when it see any signal under your judgement calculation and make the decision for you. So, it's not entirely your fault and don't feel too guilty about it. Do you feel better now? Now, take a sticky note and write down what mistake you need to tell your software to change and stick it in front of your computer where it is visible. It may sound funny, trust me...I been through this and little things sometimes do a big part too. Please do not stick too many of those note where it will fade your focus on that sticky note. It is really strange but it works, even though you think your eyes are not looking at it everytime you trade but your subconscious mind view the entire eye vision area. Just like some times, when you are walking facing a front and suddenly something came out from your side even though it is only appear at corner end of your of your view , you will react instanly. That's what I am talking about, your subcoscious mind react for you. Same as this, with the sticky note in front, your subconcious mind will take note that this is a mistake before it take action for you.

Forex Tips - Colors blind your trade

If you think that indicators and Psychology is the only important things in trading. Think again, I want you to take a close look at your chart and tell me what you see in the quick blink of your eyes. If you face the chart right now and close your eyes, a quick blink will tell you what you see first in your chart. Is that the most important indicators that show you first? As a trader you must know, which one of the indicator come first and which one come next. Place it according to the need in line...let say if your candle in number 1 in your important indicators list, so in the blink of your eyes you should see the candle first and not others. Everyone have their different color limit in their eye vision. So they need to adjust the color according to their eyes. YES, color play a big role in trading too. Without a right adjustment of color to suit your eyes is like driving in the rain without your wiper on.

Forex Tips - Psychological Trader

To learn all the technical is not hard, to become a analysis is not hard either, to get to know all about fundamental also easy. All this are easy to learn and really easy to handle. After you been through all this, the final part also the hardest part of all is to go against yourself. Psychology start to kicks in, controlling your own mind is the hardest thing to break through. Emotion, anger, fear, greed, hope, moody...etc. It is a game of challenging yourself. How???? My advice to you, get to know yourself first before you go challenge yourself, that's when the numerology comes in. YES, I personally went to study numerology just to know myself. After I knew what inside of me then only I know what I should do about it. Which one of my worst enemy inside of me that I should go after first and how to control it. It is all about mind game. I don't mean that you should study numerology just to get to trading. Ask me about it and I be happy to help you out, trust me, short cut is much more better than going through all those that I been through.
I been doing a research back into my history of trading, and you know what I found out. You won't believe if I told you. People who had no experience in trading at all, no idea what is a indicator or platform, all they can see is the chart is facing up or down. They for sure can make some money, Yes!!! dummies trader can make money. If you ask all those traders, they will tell you the same. Knowing more will put more pain in you. Same to me, when I started to trade, I am totally a dummy that knows nothing about trading cos I have never trade stocks, forex, future..or anything out there that's available. I just jump in without going for any courses and start to trade, I can see money on the 1st month and that's when I tasted the sweetness of the trading. Form that, I started to think, trading should be more complicated than what I know. Until I started to learn about more indicators, this indicator, that indicators and go for lots of courses. My god!!!, the more I go for, the more confusing I became.... It really got me stuck in there for a while, until I take a time off and pull my self out. After some good time spending clearing my mind, I start to scrape all those indicators out of my chart and start back again to plain, simple and nice charting. Mark my word - you don't need to be a proffesors or sciencetist to become a trader, Stay at the kindergarden level if you are making money!!!! "Simple is the key of trading"

Forex Tips - Most important Candle Signal

Candle signal plays an important rule when come to trading. I have put together a few of the most important candle signal that you need to memorize it. Of course you need to know which trend the market is moving before you apply the candle signal and placing your order.

Knowing Leverage

In Forex trading, a small margin deposit can control a much larger total contract value. Leverage gives the trader the ability to make large profits, and at the same time keep risk capital to a minimum. For example, if you choose 1:200 leverage, which means that a $50 dollar deposit would enable a trader to execute a buy or sell order of $10,000 worth of currencies. Similarly, with $500 dollars, one could trade with $100,000 dollars and so on. But leverage is a double-edged sword. Without proper risk management, this high degree of leverage can lead to large losses as well as gains.

Law of Garbage Truck

How often do you let other people's nonsense change your mood?  
Do You let a bad driver, rude waiter, curt boss, or an insensitive
employee ruin your day?  Unless you're the Terminator, for an
instant you're probably set back on your heels. However, the mark
of a successful person is how quickly one can get back their focus
on what's important. Sixteen years ago I learned this lesson. I
learned it in the back of a New York City taxi cab. Here's what
happened. I hopped in a taxi, and we took off for Grand Central
Station.  We were driving in the right lane when, all of a sudden,
a black car jumped out of a parking space right in front of us. My
taxi driver slammed on his breaks, skidded, and missed the other
car's back end by just inches! The driver of the other car, the guy
who almost caused a big accident, whipped his head around and
he started yelling bad words at us. My taxi driver just smiled and
waved at the guy. And I mean, he was friendly. So, I said, "Why
did you just do that? This guy almost ruined your car and sent us
to the hospital!" And this is when my taxi driver told me what I now
call, "The Law of the Garbage Truck." "Many people are like garbage
trucks. They run around full of garbage, full of frustration, full of anger,
and full of disappointment. As their garbage piles up, they need a
place to dump it. And if you let them, they'll dump it on you. When
someone wants to dump on you, don't take it personally.  You just
smile, wave, wish them well, and move on. You'll be happy you did.
" So this was it: The "Law of the Garbage Truck." I started thinking,
how often do I let Garbage Trucks run right over me? And how often
do I take their garbage and spread it to other people: at work, at
home, on the streets? It was that day I said, "I'm not going to do it
anymore." I began to see garbage trucks. Like in the movie "The Sixth
Sense," the little boy said, "I see Dead People." Well, now "I see
Garbage Trucks." I see the load they're carrying. I see them coming to
drop it off. And like my Taxi Driver, I don't make it a personal thing; I just
smile, wave, wish them well, and I move on. Good leaders know they
have to be ready for their next meeting. Good parents know that they
have to welcome their children home from school with hugs and kisses.
Leaders and parents know that they have to be fully present, and at their
best for the people they care about. The bottom line is that successful
people do not let Garbage Trucks take over their day. What about you?
What would happen in your life, starting today, if you let more garbage
trucks pass you by? Here's my bet. You'll be happier. Life's too short to
wake up in the morning with regrets, so.. Love the people who treat you
right. Forget about the ones who don't. Believe that everything happens f
or a reason. If you get a chance, TAKE IT! If it changes your life, LET IT!

Nobody said it would be easy... They just promised it would be worth it!

Trading isn't playing football

When I think of my youth and the many pieces of advice I heard related to playing different sports, I often think how inappropriate they are to trading. "It ain't over until the fat lady sings." First of all, the fat lady usually sings at the beginning of the game and almost never at the end. Obviously, the expression means to keep fighting until the end. "Never, ever, give up." If we followed these sage pieces of athletic advice, we would likely doom our trading. In fact, successful traders do almost the exact opposite. Rather than waiting until the bitter end, the good trader cuts losses early. As soon as it is apparent that a trade is not going in the right direction, the successful trader exits the position. Many times, that means that a loss must be taken. Football coaches will tell us that losses are absolutely unacceptable. Good traders will tell us that losses are a fact of life and many times even a good trade can result in a loss.

I'm sure it sounds odd to hear that a good trade can result in a loss, but what I mean is that one has made a good trade if he has set a downside exit before ever entering a position and then closes the trade if that exit is hit. We must remember that on any given day there is a 50% chance that a stock will go up and a 50% chance that the stock will go down. If we have entered a position where we will profit when the stock goes up, we must recognize the possibility that we may be wrong. No matter how hard we try, there is nothing we can do to influence the movement of the stock on any given day. If it moves against us and hits our exit, the right thing to do is to get out. We have then made a good trade. However, if we say to ourselves "it'll come back" and stay in the trade, we have made a bad trade if the movement continues against us. At that point, we are only hoping things go our way. Hope may work in athletics, but it has no affect on trading. What we may hope does nothing to influence the price of a stock in my experience. When we entered a trade, we presumably had a reason to believe the stock price would move in a specific direction. When it moved in the opposite direction it told us that we and our reason were wrong. That, in my view, is the time to recognize that we made a mistake and cut our losses. Unless we make that decision at that time, how are we going to make the decision as to when we will cut our losses? The argument that "it'll come back" is spurious. It may come back and it may not. The point is it did not perform as we initially had reason to expect so we no longer have any business remaining in the trade.

In trading stock and futures, score is not kept by the number of wins and losses, but rather by how much we make or lose. Those can be two very different concepts. We can lose 60% of our trades and still be profitable overall if we manage our money appropriately and pay attention to reward to risk ratio. Of course, the higher our percentage of wins, the greater the likelihood that we will be profitable overall so long as we don't let our losses run. If we "wait until the fat lady sings" when trading, we set ourselves up to lose. We then have made a decision to wait until the bitter end rather than cutting our losses and moving on to another trade which could be profitable.

If you have ever played in or watched a football game, you know that emotion is an important element. In trading, the absence of emotion is the important element. Once a trader permits emotion to rule his trades, he has significantly reduced his likelihood of success. He is being governed by greed and fear. The football player, on the other hand, can enhance his likelihood of success with an emotionally charged approach to the game. How often have we heard a football announcer marvel at a player sacrificing his body on a play? Should we be marveling when we sacrifice our money on a trade? Of course not. Our first objective in trading is always to limit losses and only once we have done that can we concentrate on profit.

In sports, it is considered unsportsmanlike to run up the score. In trading, that is exactly what we do want to do. Our objective is to let our profits run. Often, the inexperienced or unsuccessful trader will cut profits short. In terms of overall success, that is as bad or almost as bad as failing to cut losses. Let's save the gallant comeback for our favorite team. Meanwhile, we can keep ourselves in the trading game by disciplining ourselves to cut losses promptly and let profits run rather than looking for the big play each time.