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Thread: Total newbie in forex - just a month live trading

  1. #1

    Total newbie in forex - just a month live trading

    MY JOURNAL.

    FOR NEWBIE ONLY

    Here are my loing and my thought #8220;ONLY#8221; later reading about 300 pages of this thread .With mix from Arjun #8221;Another simple system on 15m TIME frame #8220; trading egy and my others reading on trading egies dean marlone,POP,BABYPIPS,FOREXPEACEARMY,CANDLESTICKS,P ROTRADER, AND OTHERS I buiid-up the trading plan and journal, just for my guie on my most recent trading egy and potential #8230;. .

    You win and you are right.

    Trading is not those statements. A trained trader understands success as I lose great and that I #8217;ve wrong small. Trading is called coming out on the tiny winners' side and being rewarded with understanding how great we've been wrong.It demands a balanced lifestyle to keep up the meanness of the markets. I don't plan for the bad days, and there are bad days. It is when it affects my lives I have to make a new option. Either change my behaviour or go down in defeat.

    I have a choice: Either face the facts of trading or look for the nearest exit.

    Just through ignorance! I am able to forgive all that. Those who don't learn are their own enemy. Most important, they must learn that they don't need to earn SELF-LEARNED mistakes. They are always better off to learn from OBSERVED MISTAKES. It may be quite expensive to make mistakes in this enterprise. I can't really tell somebody what to do, but often if I guide him or her, they will be more receptive to making the ideal decision.

    It is better to learn from an error that affects you when it's made by somebody else. You have to be mistake-aware in gambling as there are so many lessons.I see. I mean, it's apparent what mean on errors. Learn from others' mistakes, and it's cheaper than learning out of my own mistake?

    That is that I am! #8230;I am the observer and constantly get the input from others than analized it suitable for my personality.

    Most traders believe the major element in success is understanding. In my trading career I have found that proper knowledge and the ability to modify behaviour are the most essential parts of effective trading. Correct knowledge without behaviour modifiion projects improper execution of an otherwise ideal trading plan.

    Behavior modifiion, without doubt, is the key to trading success -- not just in how I believe but also how I act in certain scenarios. I have to adapt to changing situations over which I don't have any control. I have to change the scenarios over which I really do have control.

    When the walk light comes on, assume there's traffic that can run the red light at every intersection cross. I would double-check and look both ways before crossing it.

    What type of limitations I did? Are they life-saving limitations before I cross the intersection? Yes, they certainly might be,but I will never understand that if I follow the limitation every time you cross the intersection. I can not know if it saved my life for you personally prevented finding out by appearing every time.But what if I don't look and I dropped my life. I surely will not understand I must have appeared either.

    Does the limitation tell me that, if I look, there'll never be any traffic conducting the stop light? No. Does I experience of and appearing tell myself exactly what the likelihood of somebody running the lighting will be? I am able to make an assumption based on my understanding at this point. What does an assumption do? It really presents criteria based on proven facts that are an opportunity. It in no way provides mepersonally, a high probability or low probability but the best response I could pose.

    I don't want to lose myself within this thinking but to point out that it is the same in trading as in crossing an intersection. I need to make our best assumption of what's potential. I have to plan for that assumption in trading so long as it's a possibility and not just when it's probable

    First, I have to be well prepared!

    Too many start traders -- and established traders as well -- take the easy path and expect the markets to be clean and cut of what's required of them within their trading careers. They will paper trade and have fairly good success.This by no means prepares them . They must be ready in every way. That means emotionally in addition to physically and emotionally. Priorities have to maintain the appropriate place for example family, friends and environments.
    A great number of traders obtained what we call murdered now in the grain market. Most of the new traders enjoy my self, are now wondering what they did wrong now. There is not anything that they did today because they most likely don't understand what the ideal thing is. I don't mean that all traders are in the dark. I am speaking about those who don't comprehend what to do and, even if they do, then don't carry out this requirement.

    That I am going to express the importance of doing the ideal thing from the launch of a commerce and at the ideal time.Many traders -- and most new traders -- aren't conscious the market can do exactly what it did to them now. My finding#8230;. The BIG money is on the surprise side. I should perhaps have said the BIG LOSERS are on the familiar side or the popular side of a trade. I call the anticipated side.


    Expecting prices to be driven by seasonal and hedging influence is the correct way to exchange in most minds. Everyones can not argue with probabilities. It is not exactly what the trader does with his trades before the market starts a big move every day#8230;#8230;#8230;.

    That is what separates the big winners and big losers.There were more big losers today than big winners.There are traders that, because of now, can not make their next month's car payment or their home payment today. It just didn't ever happen to them that what occurred today was a possibility. They were over-positioned, though they believed they had a fantastic protection plan. They used stops fine, but they forgot to tell the broker to place the order.

    WILL BE CONTINUE#8230;#8230;#8230;#8230;#8230;#8230;

    It might be appropriate for information gathering, but myself as a trader must have appropriate assumptions as I cannot know just how a market is going to react every day.

    To me #8230;.Trading is not a favorable match in most circumstances, and that is what I must use as our assumption in trading. The major mistake made by traders is believing and anticipating trading to be a favorable game.I have execution costs or slippage when getting in and out of a position in addition to commissions as a cost factor to be deducted from your winnings or added to your losses. The market spends time in an unpredictable manner. Trends both short - and long-term do exist but not 100 percent of their time.

    #8220;My thought, the correct way to control positions is to just hold them as soon as they end up being right. Allow the market tell me that my position is proven right, but that I never let the market tell me that my position is wrong. Ipersonally, as trader, must always be in command of understanding and telling myself if my position is poor #8221;.

    The market will tell me when my position is a great one to hold. Most traders do exactly the reverse of what is right by eliminating positions just when proven incorrect. Consider that. My vulnerability and risk is much higher in case you let the market show me wrong instead of my actions removing positions systematically unless or until the market proves my position right.

    When I eliminate the position because the market proved me wrong, it's obviously a higher loss, also with stops it also is usually with higher slippage. This is not the same as eliminating the position because the market proved me wrong, By making the market prove myself right in order to hold a position is admitting that gambling is a winners' game and not a winners' game. If I just remove my position because the market proves me wrong, I#8217;m are imagining that trading is a winners' game.

    I don't want to be able that is never proven right. If I just get out when the market proves me wrong, it's likely to have higher risk due to the longer time period required to establish my position incorrect. I will further clarify these ideas.

    HERE MY TRADING PLAN AND RULES:

    1.

    #8220;In a losing game like trading, I shall start contrary to the majority and assume that I #8217;m certainly incorrect until proven right! (I don't assume I#8217;m are right until proven incorrect ) Positions established must be reduced and removed until or unless the market displays the position right! (I let the market to confirm appropriate positions ) #8221;

    it's important to know that to me the one criteria for eliminating a position is because it has not yet been proven correct.I at no time use as criteria for eliminating a position the simple fact that the market proved the position wrong.

    My Finding#8230;#8230;

    #8220;There's a big gap here as to the way we handle all positions from what the majority of traders use. If the market doesn't prove the position right, it's still possible the market has not proven the position incorrect. If I#8217;ll wait till the market proves the position incorrect, I#8217;m are wasting time, effort and money in continuing to hope it's right as it is not. #8221;

    How many traders ever hoped it would not be proved wrong instead of hoping it was right?

    If I are hoping it's correct, it obviously wasn't ever proven to be right. Remove the position if it doesn't prove right. By waiting until a position is proved incorrect, I#8217;m are asking for much more slippage as I will be in the same situation as everyone else getting the same message.

    What causes this egy more comfortable is that I must take action without exception if the market doesn't prove the position right. Most traders Do it the opposite by doing nothing unless they have stopped out, and then it is not their decision to get out at all -- it's the market's decision to get you out.

    My thinking needs to be: If my position is correct, I must do nothing rather than doing nothing once I was incorrect!

    Will be last....

    Below my latest live commerce with EXNESS. .

    Provided long on EUR JPY. . 276, 352

    Hold posture 5 days, tracking every four Hours on 15M period frame, premature price action motion.

    Here I have a choice either to confront the truth of trading OR look for the nearest EXIT.

    LET THE MARKET TO PROOF ME WRONG THEN I MAKE A CHOICE. . .OR PRESS MY winners properly without exclusion.

    Trading is a loser's game. I must find out how to shed. The biggest loser who loses little will last in the match.

    I thinking should be: If MY position is correct, I must do nothing rather than doing nothing when I am are mistaken!

    The setup:

    1. AVERAGE PRICE BAR (HEIKEN ASHI)
    2. TDI INDICATOR
    3. MACD TRUE
    4.10 EMA
    5.50 EMA
    6.200 EMA
    7.800 EMA
    8. PRICE ACTION CHANNEL 5 SMA LOW/HIGH
    9. MARKET HOURS
    10. ZMFX ALL PIVOT LEVELS
    11. ZIGZAG
    12. SHICHANNELTRUE
    13. DAILY RANGE PETER E
    14. ROUND NUMBER 5 DIGIT



  2. #2
    Usd cad top down

    valid long signal on h1 n h4



  3. #3

  4. #4

  5. #5
    Gbpusd swing commerce on h1
    took counter commerce entrance on 15 m with legitimate tdi cross sign and s1 confluence
    hit r1 target 164


  6. #6
    Correlation pairs ej / gj / uj
    ej gj uptrend --uj return

  7. #7
    In my backtesting for the previous 6 month...

    Until I chair to make a trade, I'll go forex ticket website to confirm daily correlation between the pairs. Additionally there is a pivot and s/r amount shown on the table.from that info I'll place the pairs so with the correlate each pair.now that my egy only trade pairs.
    I put my own mt4 platform 3 pairs.easy to track it.

    Set 1 -- eur/jpy gbp/jpy usd/jpy

    place 2 -- eur/usd gbp/usd usd/chf

    I took a commerce simultinously about the 3 pairs according the price action related to the pairs correlation....so far so good 90% follow the favor.

    Took swing commerce on h4, entrance on h1.
    Took scalping on h1, entrance on 15m.

    First do top down analysis w1,d1, h4....see wat happend there.
    The chart will tell me what exactly does it means....
    Then await legitimate signal from tdi and also the price action and implement...

    I GOT two DIFFERENCE ACCOUNT. --RISK.

    1. SWING TRADE ACC....LONGER TERM TRADE --OPEN two THEN CLOSE 1 POSITION, LETS IT RUN....

    2. SCALPING TRADE ACC .... SHORT TERM.

    MY CHART SETTING ON MT4 .


  8. #8
    Anybody read this. . .pls help how to publish live acc workplace. . .cos constantly im create a save as graphic the mt4 reside will post demo acc pic.
    I dont understand why. . .pls do assist...

  9. #9
    Currently ok. .the exnessfx server hang up


  10. #10

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