the zenocorp way of fish & pips

Who Wants To Be A Millionaire

2009-03-14T13:31:00.001+08:00

Millionaires have certain guidelines they live by - that's one of the reasons they become Millionaires. If you haven’t created the wealth you desire, it can seem the Wealthy are privy to secrets you aren’t. The biggest secret is – you probably KNOW some of these so-called secrets already! You now need to APPLY them in your life, instead of just knowing them and you too can create your own Millions.

1. CONTINUE LEARNING To become a Millionaire, you must first create a Millionaire Mindset. Many Millionaires believe that your greatest asset is your knowledge. Your thoughts shape your future - choose your thoughts wisely. To realise your full potential, you need to continually be learning, discovering and educating yourself. Invest in your greatest asset by reading books, listening to audios and attending seminars constantly. By continuing your education beyond formal school years you will achieve more in life than you ever imagined. For dozens of free prosperity resources visit www.WildlyWealthy.com

2. LIVE BELOW YOUR MEANS This may not be the hot tip you expected, but this secret will assist you toward Millionaire status no matter what your income. A quote from Bill Earle sums it up perfectly “If your outgo exceeds your income, then your upkeep will be your downfall”. The typical Millionaire spends less than he earns, and invests the difference. Millionaires prefer to sacrifice high consumption today to achieve financial freedom tomorrow and for a lifetime.

3. BUILD A BUSINESS AROUND WHAT YOU LOVE Most of the richest people in the world own one or more businesses. To create true wealth, you must involve yourself in your own business – preferably doing something you love. Millionaires get that way because they do what they love. They love what they do so much that it rarely feels like work – they put their heart into it and the money just flows. This is where the money is – you will never get rich working for someone else. Find something you love, something you’re passionate about, create a business around what you love and watch the money flow to you.

4. BE PERSISTENCE On your way to creating your own millions, you will definitely face some minor and major obstacles. The secret is to overcome these obstacles and move on. Do not give up - be persistent. True long-term wealth is achieved only by striding over, under and through the obstacles along your path to riches. “The road to success leads through the valley of humility, down the path of patience and across the wide barren plains of perseverance. As yet, no short cut has been discovered”

5. LEVERAGE YOUR TIME AND MONEY Millionaires do not have the time nor the inclination to do everything themselves and when it comes to making millions they don’t just use their own money. If you want to be a Millionaire you have to know how to leverage. Millionaires hire the right people to do far more than they possibly could themselves. And they utilise other people’s money to invest in income-producing assets.

6. INVEST IN REAL ESTATE ”One thing the Rich uniformly have in common is that almost without exception – the Rich either made their Wealth in Real Estate or they keep their Wealth in Real Estate” stated world famous Real Estate Investor, Dr. Dolf de Roos. It’s never too late to begin your Real Estate Investing career – with the right education and support you will be able to create long term secure wealth to pass onto future generations. Real Estate investing is one of the best-known ways to create millions – even if you have NO money to begin with!

7. GIVE BACK Many Millionaires are generous with their time and money in helping others. This wasn’t something they began after they became rich, they were givers before, during and after they made their millions. In fact many Millionaires even have their own foundations. They donate a percentage of their wealth to a cause they believe in. The more you give, the more you will receive. Don’t hoard your wealth, share it with others and watch it multiply.

Millionaires dream big, create a strong desire to achieve those dreams and then take consistent action to see their dreams come true. Follow these guidelines and you too can be on the way to your first Million!

lets do some gold digging

2009-03-05T10:23:00.003+08:00

hi, today im not busy so kind of feel like doing some analysis for GU.
first lets go to the larger time frame -3hours chart. look at how the price react at the resistance zone. a touch at 1.4200 follow by an inside bar.

next, lets move to 1 hour time frame. we have a pretty nice IB setup happened just below our resistance zone 1.4200. so its a call for a short. but unfortunately it was 6am in the morning and i was still on my bed having a sweet dream. so i missed it.

last but not least, the 15 minute time frame. price had been making a nice fall from the top (1.4200). so at this moment i will definitely wait for a pullback to go with the trend. chop!, do you guys know where the trend going? -easy, juz refer back to the 3 hours time frame, you will have the idea.

so dats it for now, have a blessed trading day. roger out.

GU pair analysia

2009-03-03T11:48:00.003+08:00

i didn't took a trade yesterday because i have not found a sexy entry setup. however i come out with GU pair analysis. see the picture uploaded above. the price broke my HBL(horizontal brown line) yesterday. so im gonna keep an eye for the price action at the support zone 1.4150 - 1.4100 area.

have a nice trading day

my trade updates

2009-02-27T17:03:00.002+08:00

this trade was took last night and i just closed my positions on GU and EU with profits of 130pips and 33pips respectively. its 5:10pm in kuantan and waiting for another 20 minutes to go for workout.

Agape love.

2009-02-22T20:30:00.003+08:00

Love is patient and kind. Love is not jealous or boastful or proud or rude. It does not demand its own way. It is not irritable, and it keeps no record of being wronged. It does not rejoice about injustice but rejoices whenever the truth wins out. Love never gives up, never loses faith, is always hopeful, and endures through every circumstance. -1corinthians 13: 4-7

late update

2009-02-20T08:28:00.003+08:00

another busy hectic day. so i juz grab few pips and stay out.

excited? not really,

2009-02-17T11:26:00.002+08:00

i was wondering what happened to EU juz now. it seem like an all of a sudden 100++ pips drop from 1.2760. i check out the forex factory but there is not significant news. however i manage to earn some pips form the massive move.

my uj trade updates

2009-02-12T13:20:00.003+08:00

hi folks, its been a nice trading day for me. i set my entry last night (when i say i set my entry, it consists of the entry point, the stop loss level and the take profit area), it gets trigger this morning when i woke up. so i juz leave my trade to run. after i came back from class around 1pm, 50pip bucks was bank in into my Oanda account.

basically trading is simple..yeah, but not easy at least for the first timer (erm even old timer-otai get pretty hard to grasp this idea). well, it can become easy as the experience grows. remember my previous post, its not the every battle dats counts, but the war that matters the most. same things apply to forex trading, and also to games.

speaking of games. if you can treat trading as playing a games, maybe you can redefining trading to be something enjoyable less stressful.

so try to makes trading
as simple as possible,
as easy as possible,
as fun as possible,
and the lists goes on....

You don't have to win every battle, just the war.

2009-02-11T19:34:00.004+08:00

this article was taken from babypips.com.

It's easy to get caught up in daily defeats. Your trading strategy isn't working. You're losing money hand over fist even though you know your system works and you're following all the rules.

If you aren't careful, you could get discouraged and feel like giving up. When you aren't making the profits you desire, you could end up feeling like a failure, thinking you'll never make it as a trader. to read more click here ---> (read more)

nice run for EJ

2009-02-10T21:51:00.002+08:00

sorry guys for my absence coz i have been busy this few days. so this is my latest trade with a profit of 110pips. my previous setup for EU was not a good one. but i manage to cover the loss with this winning trade.

love, life, prosperity...

2009-02-07T12:57:00.004+08:00

so here is the verse for today. although i got this widgets for quite some times, but i seldom pay attention to it. after i posted my previous analysis, then my eyes suddenly rolls on this verse. it is so encouraging. see the word love comes before the other two? -life and prosperity. the word love being emphasize many times in the book. and actually dat is why the book was created in the first place.

take care and god bless. Christianity

my analysis

2009-02-07T12:49:00.004+08:00

i recently enter a limit buy. this is why i love my broker so much, coz i can enter a position 24/7..so the price had been playing support and resistance at the pink zone which give a nice set up for a long this Monday.

dats it for now, have a great weekends.

nice fishing today.

2009-01-22T21:58:00.002+08:00

this is my first trade for this pair in the year 2009. around 9pm local time, the pair went rocket high and triger my TP. if only i juz let my profits runs, mayb the pips could go 150 or beyond. but i stick with my tumb of rules. everytime before i open a position, i make sure that i know where is my entry point, stop loss level and exit point. and i will make sure my RnR ratio- must be at least 1:2. 1% or money management with position sizing.

erm maybe i would explain details about my money management the next time i post.

120 pips..not bad huh?

2009-01-21T19:32:00.002+08:00

this is why i love my HBL(trademark) so much....!!! you cant get this kind of state-of-the-art profit by using lagging indicators such as MA,BB,bla3 you name it. beside this is the simple and easy way to monitor the market.

so take care and have a nice trading day!

i was a nice home run

2009-01-19T10:08:00.003+08:00

so this is my trade for this pair (my favorite pair). i hold it over the weekend and turns out to be a nice profit for me. 114pips...not bad huh? hehe..

as you can notice on the circle section on the left of the chart, that was my loosing trade. however i manage to keep my loss small while my winning trade cover it with the ration of 1:2.78. dats the beauty of money management.

the right side of the chart show a nice setup for long happen to be a pullback to the support area of 1.4800.

happy trading guys, and god bless.

a late update

2009-01-13T18:25:00.003+08:00

this trade was taken yesterday before i went out for shopping.

a quick one

2009-01-10T10:23:00.002+08:00

i grab a quick profit last night. it was a great setup for the EU pair on the 15M chart, so i took the advantage to short as the main trend is down. i get out with a 47pips profit coz i don't want my position to be held over the weekends.

have a great weekends..and god bless.

a new year, a new begining

2009-01-09T19:22:00.002+08:00

hi,

i finally change my blogger skin. from a 2 column to a 3 column template. its a new year of two thousand and nine(2009) and of course newer aim, goal and vision. so this new template will give me more motivation to post my trades..hahha

i have set a lists of goals which i want to achieve. which i will not go in detail about the rest of the list infect i will only list down my top three goals..

1) first is of course about my forex trading. and i would like to see a consistency in my trades as well as my experience to grow over time.

2) this year im going to be serious in business. me and my other two partners had been planing for over a year about this business. so now is the time! as Donald Trump says, stop planing, and start doing!.

3) green mind, green bucks, green venture and a greener world to live( all trademark)

so once again, happy new year and merry Christmas.

a counter trend trade

2009-01-09T08:58:00.001+08:00

this trade i took last night with the same simple strategy of my Brown Horizontal Line or for short BHL (trademark hehehehe). it happen to be a trade that against the trend. so i just go for the hit and run philosophy and made a minimal profit of 28pips. not bad huh?

happy trading guys...have fun...bcoz trading is suppose to be fun and easy. cheers.

my first trade for this year..

2009-01-07T13:27:00.000+08:00

as you can see in the chart, the buy signal is somewhere near the horizontal line. but i miss that. so i took another set up happened to be the 61% pullback and go for long. the price did rally up and i decide to close the position for a 93pips of profit.

however i still look for other setup to long as the main trend is up at the moment.

happy trading and god bless.

The Ah Kau Story

2009-01-03T20:54:00.000+08:00

this short story i took from net from an unknown author.
its a bit long, but it worth reading. enjoy.

Ah Kau is a guy who sells newspaper every morning next to your apartment, and you are one of his daily regular customers. Before dashing off to your office every day, you will go to his small stall and buy The Star newspaper. Wearing a newly pressed shirt, a tie, and a pair of Clarks shoes, you grab a copy of The Star, pay RM1.20 and exchange smiles with Ah Kau and greet him. “Apa macam Ah Kau ini hari? Bisnes ada baik?” The normal greeting like you do every day. Yes, Ah Kau doesn’t speak English. He speaks Chinese and knows a little bit of Malay. He speaks a little bit of Malay but with a very thick Chinese accent. “Biasa saja… ini bisnes aa, kadang kadang baik, kadang kadang tada untung oo….” “Biasalah hidup. Kadang kadang ok, kadang kadang tak ok.” You give Ah Kau a pat on the back. You smile and walk away and get into your car.

You start the engine and start driving to your office, a multinational semiconductor company located in a premier industrial area. You are a young and promising finance executive and the future looks bright for you. A year goes by and things look pretty good on the track. You decide to marry your fiance and have your new wife moves in to your place. Both of you feel happy because you can save more money as the two of you will be sharing one apartment and can live as one.

Ah Kau is still selling the newspaper as usual. Sometimes in the morning your wife gets the newspaper from Ah Kau instead of you. A year later a child comes along, and you decide to buy and move into a newly developed condominium just across the street. This place is bigger so it will be perfectly fit for the 3 of you. But since both of you are working, you decide to get a maid to take of the household and your kid. By this time you’re offered a managerial job from another multinational; the remuneration package offered is much better in terms of the pay, contractual bonus, medical benefits, ESOS scheme and a few others which make it impossible for you to decline. So you join this company happily.

You get busier. You realize that you spend less and less time with your family. When your department is busy preparing for the next audit, your working hours become more and more ridiculous. Any internal issues arising in the office means you’ll be stuck in the office until 8 or 9 pm. Sometimes, during the weekend, you’ll spend your time in your office, buried under paper works and documentations, instead of taking your family for a walk in the park. One morning, on your way to get your copy of The Star, you realized that Ah Kau is no longer in his stall. So is his rundown motorbike. Instead, there’s another young Chinese guy at the stall.

“What happen to Ah Kau?” You ask out of curiosity. “Oh, he is still around, but he is no longer taking care of this stall as he has opened up a new grocery shop down town. I am running this newspaper stall for him.” “Ok,” you smile. You feel happy for Ah Kau. “At last he manages to improve his life.” Your normal life continues. A year passes by and at the end of your company’s fiscal year, you’re rewarded for your effort with a 5 months bonus pay-out by your employer. Wow. Now that is a very handsome reward. You feel your effort has been equally compensated. To celebrate, you decide that it’s time to trade your 5-year old Proton Wira to the latest Honda Civic model. It won’t be much a problem to you to get a loan scheme from the bank as your pay slip will provide you an easy gateway to access financial help from any bank. One day, the hardest reality of life hits you right on the face. The company that you’ve been working for years announces that they’re moving their business to China for cost and competitive reason and has asked you to find a job somewhere else. “What?” You scream out cold. “I got a lot of liabilities on the card! Who’s gonna pay for my mortgage? My car? My credit card? My gym fees? My bills?” You yell like there’s no way out. This is the first time you feel let down by your own employer. All your hard work seem to go up on the smoke. You feel sick. You now hate your company.

On the way home, you stopped by at a mamak restaurant for a cup of teh tarik while pondering about your future. Alone. Suddenly you saw this new, shiny BMW 3 series being parked nearby. And to your surprise, it was Ah Kau. Yes, Ah Kau who used to sell newspapers nearby your old apartment. “What happened to old Ah Kau?” You whisper to your self. Ah Kau still recognizes you, and sit next to you, and shared his story. To make it short, Ah Kau had accumulated his money from selling newspapers to open more stalls, one after another. Every new stall is run by his workers so that he focused on opening more and more stalls, which in turn give him more and more money. Over the years, he had accumulated enough cash to open up new grocery store while at the same time buying more assets to grow his wealth. And his current wealth and success is achieved without any loan or financial help from banks and other financial institutions. There you go.

That’s the story. While Ah Kau is set to become financially free, you’re back to where you’re started before. Ground zero. Before leaving, Ah Kau gives you a familiar quote, “Biasalah hidup. Kadang kadang ok, kadang kadang tak ok.” He gives you a pat on the back and walks away. In reality, if you’re observant enough, there are a lot of Ah Kaus out there, that you will see every day and every where you go. The names are different, but inside them is every character of Ah Kau. They might be Uncle Dorai, Ah Chong, Pak Abu, Makcik Gemuk, Pak Man nasi lemak or others. They look to be struggling on the surface, but if you look carefully and compare with you life, many of them are living with little or no liabilities. They ride an old ‘kapcai’ bike. They live in an old rundown house. They don’t have credit card to swipe. They wear a 10-year old shirt and short. No new, shiny Toyota Harrier. In short, their living means are far below than yours. But what you don’t realize is that many of them can save more money than yours, and over the years generate enough money to expand their business, or invest in properties. Their asset columns are much thicker than that of yours. So the next time you see Ah Kaus, never look down on them, and never under estimate them. Or else you’re up for a harsh reality lesson.

Jadi, apakah yang anda pelajari dari cerita pendek ini? Walaupun ianya mungkin satu cerita rekaan, sebenarnya memang ramai di antara jiran kita yang sebegini. Contoh terdekat saya ialah jiran sebelah rumah yang menjual roti canai di pasar malam. Siapa sangka dengan bisnes roti canai di pasar malam boleh menjadikan jiran saya memandu sebuah Mercedez?
PS – Personally aku pernah borak ngan sorang tukang kasut kat Kota D’sara (pakaian org miskin), nama dia Herman, chinese-muslim….borak punya borak, rupanya member ada branch kedai kasut 3-4 biji, pakai Toyota Harrier….perghh….terpukul dibuatnya…

so the moral of the story is....you think yourself.

the bottom line is.....SIMPLICITY!

2008-12-12T18:57:00.000+08:00

"A theory is more impressive the greater the simplicity of its premises, the more different the kinds of things it relates and the more extended its range of applicability "....ALBERT EINSTEIN

so my version of simplicity is, when it comes to trading, i use horizontal lines to spot the critical point of support and resistance.

trendline and fibonacci for confirmation.(but not necessary as an entry rule)

last but not least inside bar and outside bar for entry.

90pips for breakfast

2008-12-05T11:50:00.000+08:00

this trade was taken last night before i went to sleep. the profit target was set and juz to found out a nice 90 pips in profit this morning.

trade updates

2008-12-03T22:24:00.000+08:00

i missed out both profitable trades total up to be approximately 100++ of pips..

the trade i took during the London session (shown in the chart below) only bring me a tiny 17pips. since the trade was against the trend, i decided not to target for big pips.

great trade today!

2008-12-02T17:27:00.000+08:00

i closed 3 positions today.

the first trade was taken last night on the EU pair. and it almost give me a 100+ pips yeaterday when it retraced juz few pips from my targeted area. i closed my trade with 10pips seeing the market has no much power to push price higher.

the 2nd trade was on the USD/JPY pair. i really happy with this trade.

the last trade which i scalped on EUR/JPY for a small +30pips retracement based of the inside bar, 10 pips above my horizontal line.

its 6.01pm here in kota kinabalu, and its raining.
happy trading.

something for monday

2008-12-01T00:47:00.000+08:00

updates on blogs i follow.

2008-11-12T01:48:00.000+08:00

check out the updates from the "blogs i follow" on the right column.
new updates for No Brainer Trades -introduction to trade management.

great insight.

regards.

another nice short which earn me so big fish...

2008-11-07T13:00:00.000+08:00

i juz love my simple chart.

i had nice pips for breakfast

2008-11-05T11:35:00.000+08:00

was a easy trade for me. put the pending order (refer to the candle in green box)and set target for 84pips. woke up this morning pop! another 84pips for breakfast. =P

take care and had a bless trading day!

the edge is knowledge and experience

2008-11-05T01:53:00.000+08:00

To survive in the Fx markets you need
an edge - which you will attain with
enough knowledge and experience.

The Foreign Exchange Interbank Market

2008-10-31T10:40:00.000+08:00

New traders suffer a severe disadvantage because they do not understand what moves the
market and how to react to certain outcomes. When attempting to learn, the overflow of
information out there can be both beneficial and disastrous.

take a look at a general overview of the interbank
market and how it works. It baffles me that such a large portion of retail traders out there
have no clue of this structure, and it’s no wonder why so many of them lose money on a
regular basis. Deficiency of knowledge in any endeavor is usually going to lead to failure.

Understand what you are trading before you trade it, and then move on.
-BRV S+R Trading e-book

so to really understand what makes the currency market please take a look at the article linked below

the foreign exchange interbank market

the article is written by Kathy Lien, Chief Strategist of FXCM

sub topic include

1)introduction
2)who makes the price
3)how do banks determine the price
4)how does a bank offset risk
5)conclusion.

have a nice day!

good morning!

2008-10-30T10:07:00.000+08:00

"I do not think there is any other quality so essential to success of any kind as the quality of perseverance. It overcomes almost everything, even nature."
John D. Rockefellar

Chicken soup for MM

2008-10-29T22:33:00.001+08:00

Money management by Nomoretoxic

i juz found out this thread in the forex factory forum.
another good money management rules by Nomoretoxic.

my next post will talk more about the money management.

been really busy lately. so taka care and have a nice tradng day!

nice profit today

2008-10-28T20:55:00.000+08:00

a 1:4 risk to reward ratio.

trade a simple Kiss ass template PART 2

2008-10-21T11:03:00.000+08:00

this is a respond from jimmyMac to tess quoted from babypips.com under the alternative technical templates' thread

trade a simple Kiss ass template PART 1

2008-10-20T14:13:00.000+08:00

Qestion by a trader:
Say your trading a 5 minute chart,would you basically go back a day or two and look for those S&R's and plan your trade with those. I think I am confusing myself here now. Obviously newer S&R's have more value. There just seems to be a piece of the puzzle here I cannot put into place

Anster by a professional trader:
If I’m trading a 5min chart my s&r zones will have been constructed & plotted from my larger timeframe charts (4 or 1hr).

I don’t consider anything lower than a 60min chart reference when plotting s&r zones. In my view, the lower timeframes & their behaviour are nothing but market noise.

Those timeframes (5/15/30min) are utilized primarily (although not exclusively) for timing fresh entries/compound additions & exits in line with my analysis from the higher timeframe references.

I never bothered with faddy systems, fancy indicators or gimmicky, complicated methods jlmac - they're a complete waste of time & are nothing more than an annoying distraction in my view.

They merely serve to divert your focus & study away from that which you ought to be concentrating on. Familiarizing yourself with the behaviour of your chosen instruments & learning to observe the rhythm & heartbeat of the market thru studying the relative price action/activity.

GU on the go

2008-10-18T14:01:00.000+08:00

i came out with some analysis on critical levels for this pairs, those levels are worth to keep an eye for.

Update on GU.

2008-10-14T10:41:00.000+08:00

sorry for my absence because im really busy with my stuff. thanks for visiting and have a nice day.

Lets shine like stars

2008-10-06T11:20:00.000+08:00

forex factory calender

2008-08-22T17:57:00.000+08:00

hi there,

i have link the FF calender at my blog, for those who can't get their eyes off the new you can check it out at the bottom of the page.

regards.

dream big!

2008-08-19T10:38:00.000+08:00

"To dream anything that you want to dream. That is the beauty of the human mind. To do anything that you want to do. That is the strength of the human will. To trust yourself to test your limits. That is the courage to succeed." --Bernard Edmonds

sunday quote..

2008-08-17T00:56:00.000+08:00

"Continuous effort, not strength or intelligence, is the key to unlocking our potential."
Liane Cordes

have a nice weekends.

some picture for sharing..

2008-08-09T11:55:00.000+08:00

what type of trder are you?

a trader with sound money management

have a nice weekends.

how to develope a good money management in forex trading

2008-08-07T17:35:00.000+08:00

this article in taken from:
http://www.fxoperator.com/money-management/how-to-develop
-a-good-money-management-in-forex-trading.html

In this article I will show you how to develop a good money management discipline in Forex trading without risking more than 0.5% of your trading capital on a single trade.

Let’s say you intend to use 5,000 dollars as your starting capital to trade the Forex market. (Before I proceed further, what do you think with that amount of money, should you open a mini or a standard account?) Although per pip for a standard lot cost 10 dollars if you were to trade GBPUSD currency pair, but that doesn’t mean that you can open a standard account with 5,000 dollars. So my recommendation is to open a mini account with per pip cost at 1 dollar.

Before deciding how much you want to risk per trade, you should start with how much you are willing to lose per month, so to withstand any possible drawdown. Since we are starting with only 5,000 dollars as capital, I would suggest a maximum cap as high as 10% risk per month, which is 500 dollars. So now we know that we can only trade with 500 dollars a month* even though we have 5,000 as capital. The next step is to determine your risk per trade.

Once we know that we can only risk 500 dollars in a month, and then you can decide how much you prefer to risk per trade. To simplify calculation, let's say we decide to set the risk per trade at 5% of 500 dollars, so that means in a mini account, 25 dollars is equivalent to 25 pips. Once you have decided that this would be your money management, the next is to look out for trade setup not risking more than 25 pips, and only if both conditions agree, then you enter the trade. So using this money management, you are actually risking only 0.5% of your trading capital on a single trade.

In all, a trader should possess three important elements in order to trade profitably. That is you need to adopt a disciplined mindset, developed a proper money management and together with a good trading system, you should be able to trade with confidence and see your trading account grow.

*This money management means that in order to wipe out the trading account, you have to lose ten consecutive months of trading to burn that entire 5,000 dollars. Is that possible? Yes, if you don’t have a profitable trading system.

my current position of two pairs

2008-08-07T13:21:00.000+08:00

EUR/JPY daily

friday quote

2008-08-01T12:04:00.000+08:00

At the heart of all trading is the simplest of all concepts—that the bottom-line results must show a positive mathematical expectation in order for the trading method to be profitable. ~Chuck Branscomb

i go short on UJ.

2008-08-01T11:28:00.000+08:00

The real holy grail in forex trading!

2008-07-31T20:52:00.000+08:00

the article is taken from www.traderslog.com/van-tharp.htm
its a Q and A with Dr. Van Tharp conduct by Active Trader magazine.

this article looks very long but its worth reading it. i sure you will get real great
something.

While many traders waste time chasing elusive “perfect” entry techniques, one trading coach points out that trading success is about accepting market realities, knowing yourself and implementing a money management plan that keeps the odds on your side.

Van K. Tharp. Ph.D., is a well-known trading coach and consultant. He is president of the International Institute of Trading Mastery (www.iitm.com) in Cary, N.C., and author of “Trade Your Way to Financial Freedom” (1999, McGraw-Hill) and “Financial Freedom Through Electronic Day Trading,” due to be released this fall.

He recently spoke with Active Trader about the “psychological” biases that prevent traders from succeeding in the markets, and what traders can do to combat negative habits.

AT: What are some of the most common weaknesses you see in traders?

VT: I’ve designed a test to help people determine their weaknesses. There are 10 measured areas that fall into three categories: psychology and discipline; understanding systems and expectancy; and money management, which I now call “Position Sizing.”

I think you could safely say that everyone who wants to succeed as a trader must master those three areas. However, all of them fall under psychology because we are all human beings, not robots. Psychology impacts everything.

One reason psychology is so important is that we all have certain biases that help us deal with processing the vast amount of information to which we are exposed everyday as traders. These
biases help in decision-making, but they tend to lead us astray. If you naturally follow those biases — and most people do — then you will have a very hard time learning what you need to learn to be successful. And incidentally, most of the information available to help traders caters to our biases.

AT: What are some examples of these biases?

VT: There are four that actually cover the common weaknesses almost all traders have.

First, we all need to be right. We’re taught in the school system that anything less than 70 percent is failure. As a result, we want to be right at least 70 percent of the time in the markets. But when you have this bias, the result is that you won’t take losses. You’ll think the losing trade you’re holding might turn around and become a winner, so you won’t take the loss. Eventually the loss becomes huge so you have to take it or you turn into a long-term investor.

The flipside of having this bias is that you want to take profits right away. Why? If you take profits right away, your trades have no chance of turning into losers and you get to be “right.”

But this flies in the face of the golden rule of trading: “Cut your losses short and let your profits run.” By needing to be right you end up doing the opposite, cutting profits short and letting losses run.

Second, we want to be in control, which means, in trading, we want to control the markets. The only thing most people can control about the markets is when they get into a trade. Consequently, most people focus all of their effort on predicting the market and picking the right stocks.

But I think most of this effort is wasted. Profits come from exits, not picking the right stocks. If you cut losses and let profits run, you can be a phenomenal success — and it will have little to do with what stocks you pick.

Third, people don’t understand the nature of streaks. Arandom sequence tends to have very long streaks in it — longer than most people would think. But since we don’t expect them, we tend to risk more after a few losses and risk less after a few wins. But the best way to trade and make money is to always risk more when you are ahead.

Last, people seem to think they know what they’re doing and none of this — the issues I’m talking about now — applies to them. They don’t take responsibility for their results and they blame others for what happens to them. When you do that, you will never learn from your mistakes. Instead, you’ll continually repeat them. And if you risk a constant percent of your equity, you’ll be doing just that.

I think that if people could master, really master, those four concepts, they’d become good traders. The problem is that they’re not as easy to master as they appear to be.

AT: What do you consider the hall - marks, psychological or otherwise, of a good trader?

VT: I teach people that there are seven key principles you must master to be a good trader.

The first is what I was just talking about — you must take total responsibility for what happens to you.
Whatever your results, you must believe that you somehow produced them. This means that when things go bad you can start to learn from your mistakes. It also means that most of your effort will be in the area of understanding yourself, not understanding the markets.

Second, you must treat your trading like a business. You must know who you are, what your mission is as a trader and have objectives that fit your mission. Once you have those things in hand, you can
then design a game plan that will help you succeed.

Third, you must understand that whenever you enter a trade you must have some point at which you will get out in order to preserve your capital. I call this your initial risk level, or “R” for short. If you don’t have an exit point when you enter a trade, then you are not a professional and you have very little chance of long-term success.

Fourth, you must strive to make profits that are multiples of R. For example, if your profits are generally 10R, then you can be wrong 70 percent of the time and still make tremendous profits. For example, seven 1R losses and three 10R gains would give you a total profit of 23R. That’s superb. When you do this, you will have a “positive expectancy” system.

Fifth, you must understand a what a low-risk idea really is: a trading approach with a positive expectancy, but traded at an appropriate size to allow for the worst possible outcome in the short run so that you can realize the expectancy over time.

Sixth, you must master Position Sizing, which is the part of your system that answers the question, “How much?” throughout the course of the trade. It is the key to meeting your objectives and it is the most overlooked aspect of trading, with the exception of psychology.

Finally, you must continually work on yourself, because your trading results are much more a result of you and what you do than any other factor. I have a Peak Performance Course for traders that addresses many of these issues like discipline, the 10 tasks of successful trading, self-sabotage, smart decision making, etc.

AT: Do you think trading skills can ultimately be taught or does a basic aptitude for the profession play a bigger part in determining success?

VT: It’s hard for me to imagine anyone who masters those seven principles not being a success. But few people can do it. First, most people are not ready for principle No. 1, and unless you master that one, you have little chance of success, in my opinion.

Also, it’s very hard to understand some of the other principles unless you have good mathematical skills. For example, concepts like expectancy, which comes from principles No. 3 and No. 4, are very difficult to understand if you don’t have good mathematical stills. And math skills are critical for mastering Position Sizing.

I give a simple 1 1⁄2-hour talk in which I teach the essentials of expectancy and position sizing. However, I’ve had people listen to that talk, think it was brilliant and still not get the concept. Then they want to take our most advanced seminars before they master the fundamentals. That never works, but that’s the way most people want to go.

I also think commitment is critically important to be a good trader. If you have commitment you can overcome major obstacles. If you don’t have it, nothing can help you.

AT: If you could only communicate one principle, rule or guideline to increase the odds of trading profitably, what would it be?

VT: The one that’s hardest to learn — taking responsibility for whatever happens to you. When you’ve mastered that, then you are in total charge of your life. Until you’ve mastered that, you’re a helpless victim. But as I’ve said, few people want to claim their power. They want “know-how,” but they don’t want self-mastery.

AT: Do you feel a systematic trading approach is vital to success?

VT: Yes and no. We have programs designed to teach people to be professional traders. In that program, I require them to develop a systematic game plan that will make at least 50 percent per year with very few drawdowns. That’s actually quite easy to do when you’ve mastered the seven principles, as long as you are not trading too much money — say, $5 million or less.

Initially, it must be very mechanical. But later, when people have proven they can trade mechanically, I think they become much better by learning how to break the rules.

AT: How important is money management in your overall philosophy?

VT: I believe it’s the key to meeting your objectives in the market. What I now call Position Sizing is the part of your system that controls how much you trade throughout the course of a trade.

In my workshops we play a simple game that involves randomly drawing marbles out of bag and replacing them. Let’s say 60 percent of them are winners and 40 percent of them are losers — that’s not a bad system. People start out with $100,000 and they decided how much to risk on each marble draw.

After about 50 draws from the bag, with everyone in the room getting the same marble draws, we’ll generally have as many different account levels as there are people in the room, with the exception of the people who go bankrupt. There are only two factors involved in that game — Position Sizing and psychology.

I now have a five-part computer game that allows people to master Position Sizing. It starts out with a simple system like the one described and it progresses through five increasingly more complex areas to help people master Position Sizing.

AT: What is the core money-management concept or technique you teach?

VT: Risk a percentage of your equity. And for stock traders, I think 1 percent is high — one-half percent might be a better starting point.

AT: How would you rank the following aspects of trading in terms of importance: entry rules, exit rules, money management/risk control, psychology and capitalization?

VT: Well, psychology is definitely No. 1 because we are human beings and everything we do from money management to entry rules requires us to use our brains.

Someone once told me that psychology wasn’t important to his firm because they were totally computerized. That firm later went out of business because his partner didn’t take a particular trade because they had so many losses in that particular item. That trade would have been the trade of the year and saved their business. The partner didn’t take the trade because of his psychology — and that one incident cost them the business.

Money management/risk control would be No. 2. By this I mean Position Sizing as I’ve described it and defining what multiple of your risk level you use on each trade. This is fundamental. Without it, no trader can succeed.

Capitalization is No. 3 because without adequate capital you cannot practice adequate Position Sizing. Your risk will always be too big and you may eventually blow out.

Exit rules are No. 4. Exit rules are what allow you to cut your losses short and let your profits run.

Entry rules are the least important. They are where most people put their emphasis because they believe that prediction and finding the right stock are so important. Pick some stocks that have the power for a big move and you’ll be fine if you have the other principles mastered.

AT: Have you found there is a particular kind (or general category) of trading strategy or approach that successful traders tend to use?

VT: No, everyone is different. The key to success is to find something that fits you. That’s really the holy grail of trading. However, if you don’t know who you are, then how can you find something that fits you?

AT: What are the most common pitfalls for beginning traders?

VT: They ask the wrong questions, such as: What should I buy and what is the market going to do? The seven principles I outlined earlier have little to do with these questions. Unfortunately, the beginning trader has trouble moving beyond them.

AT: How can traders reinforce good habits and break bad ones?

VT: I designed a model for good trading that incorporates 10 tasks. Three of them are designed to reinforce good habits and break bad ones.

The first task is self-analysis. Your trading performance is a function of you, so you must spend time every day analyzing yourself.

The second key task is mental rehearsal. You must decide what could happen today to cause you to break your rules. Mentally rehearse how you will deal with those situations, so when and if they come up, your response to them will be automatic.

The third key task is a daily debriefing. At the end of the day, ask yourself, “Did I follow my rules?” If you did, then pat yourself on the back — even if you lost money. If you didn’t, then you need to figure out why and use the mental rehearsal step to correct the mistakes in the future.

And here’s the most important aspect of the daily debriefing — if you don’t have any rules to guide you, then you are really in trouble and you shouldn’t be trading.

update on euro dollar pair.

2008-07-30T08:43:00.000+08:00

have a nice trading day!

forex system, money management, and psychology, which among the three you put the most weight on?

2008-07-28T01:18:00.000+08:00

Quote from a forex factory member's post

Thank you for your kindness to post in this thread. I am a firm believer;

* Where there is will there is a way and
* There is always a better way.

I also believe that we don't trade the markets but we trade our BELIEFS about the markets. We don’t see the world as it is but we see it the way we have been conditioned to see it. Same is true about markets. At any given moment in time some see it as a sell signal and some see it as a buy signal. Here the problem is not with the eyes but the thinking process. Everyone’s mind processes the same data differently. I have tried to get out of that black hole by not doing any market prediction for any reason.
· People use different indicators to predict markets. Moving averages, MACD, RSI, Momentum, Pivot Points, and Trendlines just to name a few. Then people use different time frames to trade. An indicator might give you a buy signal on one time and give you a sell on the other time frame exactly at the same time. WOW. One is buying using the same indicator and the other is selling using the same indicator. That is why whenever you make a transaction at any one time there is always someone at the other end of the bargain to complete the transaction. All those indicators take past price data and convert it into some kind of visual effects to make us believe what we want to believe is happening.
o IT IS HARD NOT TO BELIEVE WHAT WE WANT TO BELIEVE.
When we have made up our minds about an instrument that it will go in a certain direction; we try to find indicators that support our view. We don’t interpret the indicators as they are but as we want to see them. For example; I am bullish GBPUSD. My MACD is telling me on 4H to sell. I don’t like that MACD at that time because it is trying to contradict my view. I will change the time frame to see if it is giving me a buy signal on 1H, 30 Min or anywhere. If it does and surely you can find a time frame where an indicator can support your view; you will get even stronger on your bullish aspect about GBPUSD. You will only pick that goes with your brain. YOU will only see what you want to see. Then you see other indicators and surely some indicator at some point will support your view. You add up together, MACD on 30M bullish, Moving Average cross of 5 and 21 on one hour, Trendline on 5 min is holding, candle on 1 hour is bullish. Price breakouts from channel on 30 min. BUY. And you pull the trigger. This is mostly how trading decisions are made mostly by 95% of crowd who come with a dream of getting rich quickly trading the forex markets and end up donating their equity to their brokers account. I did this for 5 times in a row. I always changed brokers so everybody out in the markets can benefit from my donations.
If you try a little harder, you can find more indicators that do not support your view but that’s not what we want to see. So what is important? Indicators or the way we see them? Do they tell us something is going to happen? NO ABSOLUTELY NOT. They tell us only what has happened. And that too with a considerable lag and out of all that mess we will only see what we want to beleive is happening.
I would like to quote from Dr. Van K. Tharps Book "Trade your way to Financial Freedom"
There are probably hundreds of thousands of trading systems that work. But most people when given such a system will not follow it. Why not? Because the system does not fit them. One of the secrets of successful trading is finding a system that fits you.
Most successful market professionals:
· Achieve success by controlling risk. Controlling risk goes against our natural tendencies and requires tremendous internal control.
· Have success rate of 35% to 50%. They are not successful because they predict prices well. They are successful because the size of their profitable trades far exceeds the size of their losses. This requires tremendous internal control.
· Are patient and are willing to wait for the opportunity. That also requires tremendous internal control.
Ralph Vince once did an experiment with 40 Ph.D.s. They were asked to play a 100 trials of a simple computer game in which they would win 60 percent of the time. They were each given $1000 in play money and told to bet as much or as little as they wished on each of the plays. None of them knew about Money management. Only 2 out of 40 had more than their original at the end of the game. Or 5 %. If they had bet constant a $10, they would have ended with $1200. And if they had bet optimally for achieving the maximum gain ( which was to risk 20% of their new equity each time—not recommended here) they would have ended with $7490 ( on average ).
Look at the following two scenarios and see for yourself what it means:
· Which would you prefer:
o A sure loss of $9000 or
o A 5% chance of no loss at all and a 95% chance of $10000.
· Which one your prefer:
o Sure gain of 9000 or
o A 95% chance of a $10000 gain plus a 5% chance of no gain at all.
In the first case More than 80% of the public does not pick the sure loss and picks the risky gamble which works out be a bigger loss (9500).
In the second case more than 80% of the population picks up the sure gain which works out to be less profitable (9000) whereas the second option is a gain of 9500.

He also divides Trading as following:
SYSTEM: 10%
MONEY MANAGEMENT 30%
PSYCHOLOGY 60%
So, my point here is that system is probably not as important as we think it is. After spending thousands of dollars and thousands of hours of screen time I have finally came to the point where I started from but with this time my beliefs are totally different and that is big change. Now I Know that:

* If I have to succeed, I am on my own.
* I have to devise a system of my own that fits me

I am just on my way to self discovery and trying seek some help from people like you who have spent considerale time here and are more experienced than me.
Thank you again for your kindness and post.

update for EUR/JPY

2008-07-25T00:47:00.000+08:00

updates for EU

2008-07-24T13:33:00.000+08:00

my dream car -jaguar xj

2008-07-20T20:52:00.000+08:00

for features and performance you can visit this website :
www.jaguar.com/int/en/xj/highlights/highlights/performance.htm

some analysis for tomorrow's market

2008-07-20T18:25:00.000+08:00

GBP/USD

EUR/USD

EUR/JPY

updates for GU

2008-07-17T08:56:00.000+08:00

Some analysis for tomorro's market

2008-07-13T23:40:00.000+08:00

GBP/USD

EUR/USD

EUR/JPY

updates for GU

2008-07-11T12:38:00.000+08:00

its friday...happy trading.

the turtle's way....

2008-07-09T09:46:00.000+08:00

"turtle" study:

"turtle" trading

p/s: the picture above shown a real tortoises

AT LAST zenocorp has come back to Kuantan!

2008-07-06T12:44:00.000+08:00

its been a while since the my last updates. im sorry for the absence, i was back to kk for a semester break and was busy with my business. here are some updates for tomorrow's market. have a bless Sunday!

GU

EU

update on GU and EU

2008-06-03T14:48:00.000+08:00

GBP/USD four hours

EUR/USD four hours

a late nite supper + analysis for tomorrow's market.

2008-06-02T00:54:00.000+08:00

late update on GU and EU...

2008-05-30T22:26:00.000+08:00

to all kadazan & dusun..."selamat hari kaamatan"..
jgn kamu moginum sampai pingsan atas jalan rays...

-amaran kerajaan negeri sabah : alkohol berlebihan akan memudaratkan kesihatan, di samping munguntungkan pihak peniaga.

have a bless trading day!

EU going up?

2008-05-28T12:50:00.000+08:00

update on GU

2008-05-26T15:22:00.000+08:00

late update on EU

2008-05-26T15:13:00.000+08:00

update on GU again...

2008-05-20T13:06:00.000+08:00

at last i manage to online at UMS. since my fried Evendy going to pass up his thesis, so i take the chance to go online for a while..

we went to the museum at the school of marine in UMS. it was a great experience..

update on GU

2008-05-20T12:58:00.000+08:00

update on EU

2008-05-09T09:31:00.000+08:00

nice profit from GU

2008-05-07T15:36:00.000+08:00

update on EU

2008-05-06T17:27:00.000+08:00

greeting guys. sorry for the absents of my daily forex updates. it was due to my final exam.

happy trading guys..

see how fast your can type

2008-05-04T23:36:00.000+08:00

57 words

Speedtest

vote for you broker.

2008-05-02T00:58:00.000+08:00

Welcome to the FOREX EXPO AWARDS which will be presented on Monday, June 23, 2008. Award nominations are open to those working in e-FX and are viewed as the unrivalled badge of excellence for the market. They showcase top class performance and innovation, they reward achievement and they raise standards. Winning an FX Award sets you apart from your competitors and is a tangible demonstration to your customers that you have something special to offer them.

"
-quote from forexexpo.com

voting starts on the 30th of January and lasts till the 1st of June 2008.
you can visit this link to vote.
http://www.forexexpo.ru/Cyprus/visitors.html

my sexy post no: 80 pewitt...

2008-04-30T23:53:00.000+08:00

mountain hiking

2008-04-29T10:39:00.000+08:00

happy sunday!

2008-04-27T17:19:00.000+08:00

ok here is something for eye pleasure..what a nice activities we can do during Sunday.

update on EU

2008-04-25T21:21:00.000+08:00

yesterday update.

2008-04-24T14:56:00.000+08:00

great move for GU

2008-04-23T10:38:00.000+08:00

update on GU.

2008-04-21T09:51:00.000+08:00

have a nice trading day!

fibonacci all around us....

2008-04-20T01:16:00.000+08:00

Picture of Leonardo Pisano. (lived from 1170 to 1250)

In mathematics, the Fibonacci numbers are a sequence of numbers named after Leonardo of Pisa, known as Fibonacci. Fibonacci's 1202 book Liber Abaci introduced the sequence to Western European mathematics, although the sequence had been previously described in Indian mathematics.[1][2]

The first number of the sequence is 0, the second number is 1, and each subsequent number is equal to the sum of the previous two numbers. In mathematical terms, it is defined by the following recurrence relation:

That is, after two starting values, each number is the sum of the two preceding numbers.

ok, lets see how Fibonacci golden ratio can be found in our daily life.

Fibonacci in nature

Fibonacci in nature 2

Fibonacci in architecture

Fibonacci in modern architecture

Fibonacci in our body

Fibonacci in art

Fibonacci in financial market?

Mr Bull vs Mr bear

hmm..i guess i dont have to elaborate on this, im pretty sure you guys know it well.

have a bless weekends

scofield break out of prison

2008-04-17T23:52:00.000+08:00

look like a break out.
i finally close my post with profit of ++63pips

today's market is quite slow..

2008-04-17T15:30:00.000+08:00

update 5.05pm. position cancel

GU updates

2008-04-16T17:49:00.000+08:00

close with ++43pips in profit.

analysis for monday

2008-04-13T20:59:00.000+08:00

wave count on daily chart

hourly chart

quote for the day + the simplest and damm easy system?

2008-04-12T17:41:00.000+08:00

Whatever the mind can conceive and believe, it can archive -Napoleon Hill

a few days ago something come into my mind. why cant forex trading be simple and easy at the same time very profitable? what im trying to says is, trading with simple tool, two or less indicators.
thus i came out with a mission to make forex trading insanely simple and easy to apply, but yet has a very high percentage of success.

i think currency trading or any other financial product does not need to be complicated of difficult juz like the picture above. but some people choose to look at it in a way where a student trying to solve the multiple integration question.

for me, my method of trading the forex market is quite straightforward. i use the Elliott Wave as my GPS to see where the market going, usually on daily and above time frame. and for entry, i will use the Chaos trading system to enter the market.

so i guess this is for now. take care and have a nice weekend.

still looking for direction.

2008-04-10T09:32:00.000+08:00

last night entry.

2008-04-08T08:50:00.000+08:00

very slow market

2008-04-07T22:03:00.001+08:00

hmm,i'v been monitoring the market since this morning, but yet to be any great setup. so gonna leave the market to run to see whether the market can provide me any tradeable opportunity this week.

so take care and god bless! happy trading guys.

trading is a point of view. part 1

2008-04-05T16:04:00.000+08:00

greeting to all traders.

its weekends and certainly a nothing to do days for most of the traders.
well for me, i usually use my weekends to do simulation on past data and test my trading system.

Part i

lots of trader out there are searching for a so called perfect trading system AKA holly grail. is that possible? i will answer it later in part ii

for the past 1 year and 6 months i have been into this profession - part time trader. the greatest thing i learn throughout the short period of my trading experience is
" market is our point of view" .

different trader has a different point of view towards the market. below are some of the list i came out with. i will only use two traders to illustrate my example. trader Briana (female) and trader Chase (male)

first example: the market in term of animal kingdom:

Briana: "for me, the forex market is like a tiger, it keeps on preying you! so
beware"
Chase : " erm market is like a snake, you need to master it before you can let
the snake perform for you"

second example: the market in term of the natures:

Briana: " market is like someone surf on the Hawaiians coast, the waves moves in
total random direction. "
Chase : " market is like a hill, you get really tired when you walking up,
but its become easy when you walk down the hill.

third example: the market in term of science:

Briana: " what goes up, must come down"
Chase : " the market is like a fairly distributed probabilities"

forth example: the market in term of human mind set:

Briana: " you cannot make a living trading forex"
Chase : " trading is my passion, my lifestyle and something i really enjoy doing"

fifth example: when it come to technical analysis:

Briana: "when my moving average crossed,i will open a post.
Chase : " when the price break my support trendline, i will short"

you see, the way how 2 different traders can come out with their own point of view towards the market. it happened to me as a newly involve trader.

so people see the chart in hundred of ways. and people trade in many ways.
that makes the market is unique, patten in the market can be continuous, but i don't believe to have a certain tool or what people called it a black box which is an unbeatable system in the market or worst to says a system that has zero loss. what the heck man!

when emotion involve, it makes trading tougher to handle. and make the market to be equally harmonic and creative. but i consider calling it a beauty of the chart that make mastering the market ( im not saying to conquer the market) is an art to be learn.

so the bottom line is, with hundred different point of views, and with the blend of human emotion involve, it generate thinking of some people that see the as a tiger, waves, uncertainty, total randomness or chaos.

ok, im done typing, actually i can type fast, but i don't prefer to type for long hours. so i will continue with my sharing on part ii.

my target for my second entry.

2008-04-04T08:35:00.000+08:00

gu h4

2008-04-04T08:32:00.000+08:00

buy stop at wiseman 3

gu wave analysis updates

2008-04-02T18:34:00.000+08:00

sorry guys for the late update...

internet problem again

2008-04-02T18:06:00.001+08:00

sorry guys...the internet seem to have problem. i cant upload any image into this blog.
hope thing will get better soon.

happy trading.

my trade idea for monday

2008-03-29T21:56:00.000+08:00

GU updates

2008-03-26T13:26:00.000+08:00

daily

4 hours

what the heck

2008-03-25T19:41:00.000+08:00

it was not a good week to start with.. i cant get online since yesterday. connection problems. i cant even do my analysis. i hope things will get batter soon.

have a great trading day.

my humble introduction

2008-03-21T20:00:00.000+08:00

this post was taken from my previous blog which is now no longer active. I think it really need to be in my record and this is what describe why i am as a trader and how i develop my self as my journey goes. This is basically my reasons why i choose trading as my career.

brief introduction to my forex world:

part 1: the disaster
i have been into this since 12 / 10 / 2006. why i was in this profession?- because long time ago i have been scam by some of the .com consider greatest investment. i have lost quite lots of buck.

here are the list:

1) Profit swinger & profit swinger pro- +US800(dat's nice, my fav no 8)
2) Pelaburan Al-Murabah- RM1000( $25 refunded,waiting for the rest of my bucks)

3) Offshore club- USD50
4) EuroTrade-USD30
5) Swiss cash-$500 ( Suck Cash!!! )
6) and many more small size HYIP program. which can be sum up to be a total
loss of +/- $100.

part 2: a new the recovery
i quit online investment. Reasons?
1) not willing to be scam anymore
2) i have lost lots of money on those shit investment
3) i don't think HYIP/ online investment can make me a living

part3: searching for the truth
i found out what people call foreign exchange or in short forex in my fav forum-nogold.com (which basically the place i started playing HYIP) . i feel that there are some great power pushing me into discovering more about the currency market. lots of people turning their ass from online investment into trading currency. i was thinking for a while...the story continue....

part4: a new beginning
i have heard people say about how their life as a trader in term of financial and skills ( i was so impress by the way they describe bout the market this make me thinks that currency trading is something great!). i was lucky to finally have my own forex guru.

1) Sugarush -great teacher...her e-book help me from zero into "Zenocorp"

2) Debtfreedom -a male guru...i brought his e-book and manage to go through several pages.
basically i did't like the e-book (jangan marah). i dont even apply his trading method. but i do
learn something from him.

3) Uncle soros -his ideology change my view of the market. i finally found out the type of trade
i am. i never regreat learning his course. coz every penny worth!. i gonna be like him. a
master trader. (mr soros@ismail is no longer the person i respect because of his unprofessional attitude. By the way, he is not a master trader)

so basicaly this is my short history.

part5: and the journey continue............
i will add this part later.

good friday.

2008-03-21T13:02:00.000+08:00

the price move like snail..
juz came back from 2 hours lecture. what a boring class, in fact, we did't do anything there.
and im so full right now. feel so sleepy as i upload this.

anyway, great day to all the traders..

a good point to retrace?

2008-03-20T11:26:00.000+08:00

daily

hourly

good morning, juz woke up and view my chart and upload my analysis in my fav blog.
its been quite some time since i last wrote something in my blog. i have been really busy with my final year project and lots of assignments are due but i still can manage my time to do my trading.

for you information, i have recently remove my trading performance. the purpose i upload my trading performance is to review my system expectancy, since i have come up with a different pair and more appropriate way of execute my trade, then i will have to redo my performance list.

lat night i was watching a drama series called my name is earl, its quite a funny movie to watch to see all those stupid and no luck people struggling to have everything best in their life but it turns out to be the worst scenario in their life. from a rating of 1 to 10, i will give it 7...

alright, i have to go for lunch and a nice cup of coffee..have a bless trading day!

GU daily update

2008-03-19T23:57:00.000+08:00