Tuesday Result

I made around 140 ticks this month. Not reaching my objective. Can't stand my foolishness last Monday, trade against the trend. I had bias and that bias killed me alive. No chart today. Too much trades. Did some errand again when EUR dived 100 ticks...sigh... And when I came home, it stalled for 10-15 ticks movement.

GBP became a jerk-off symbol quite few days. Thought it may moved today, but it's worse than yesterday. Hanged my Future at EUR somehow.

I have a better peak of the day vs the bottom. That means I overlapped the worst drawdown of the day. RR ratio should above 3 and it did.

If I sticked to my plan, at worst I won't have four digit drawdown. Chopped around at EST morning, and covered short near the bottom that time. Should sawing my discipline habit. Today I applied one.

What A Lucky Monday!

EUR

Should be a great day from the Start at EUR. I waited till the 'Time Histogram' showed some movement. Before time zone confirmation, a clean up movement resulted 30++ ticks. Not in my zone. After those movement, triangle was shaped from the market. I was waiting and one faked happened! I was happy since higher probability after first faked out. I entered the second signal, it's also faked. Then I made mistakes: Usually I lowered/uppered my entry 1 ticks above/below the faked. This time I forgot to do it. Result: Another faked and it's 6E :(

Next entry, I entered again. This time it moved 20++ticks and stalled. Waiting and waiting, suspicious of deep pullback, got out at 21 ticks. Do some errands and off the screen for a while. It did the pullback and if I was still there, I definitely stopped out at least at par. After the pullback it dived another 70++ticks.

After got back, I entered again short and got out prematurely 8 ticks. Waited and this evil came: 5 Faked out. If I entered all of them, I need 50 ticks to make it par excluding $20 commision!

I entered the 5th at deep pullback and didn't stopped out. Out 12 ticks should ride for 20 ticks more but no complaints. I was lucky not busted out 50 ticks Stop Loss!

GBP

Dead, showed in Time Histogram, might result 30 ticks. It's not so dead, but definitely more silent than usual.

Summary:

This newfound Time Histogram is my Baby now :) But I need more filtering since too much faked today. I was afraid entering at first signal, imagine stopped out 5 times were ugly things. But GBP actually gave the first shot. So, it either missed opportunities or stopped out zillions times. Still confuse bout this.

My RR ratio sucked. Too soon profit taking, especially when I already in profit. Also my profit almost always below the worst red of the day. Need to change this

TIME HISTOGRAM

Yesterday was messy day for trending system. Today surprisingly have a hot movement. It's green :)

But still no trade, just trade with micro Futures. See the difference? Even simple system like mACD worked out if market was moving. Filter make important role, like today. If I trade regularly, I may booked decent profit today. The price reveal itself.

Choppy Filter Ideas

After long hardwork, I'd like to share one of the best choppy filter. Discovered today and like to share with others. This method is very useful for avoiding choppy area. If you saw red or yellow bars and followed by just 2 or 3 green bar then yellow/red again, be cautious. That's choppy zone. This is truly my original idea and never found one on the net. So the Histogram below is 'Time Histogram' it calculate how many seconds to create one bar. The longer the higher and vice versa. Also we can customed the colour. Green means it less then 30 seconds for example.

I used tick chart and it's obvious that only tick chart that worked with time histogram. Now, how it works. The fundamentals is: If it takes longer time to create one candlestick, means low participants in it. And if there's green-green-yellow-green-red-yellow, means that not much movement in the market. Being chopped is high if we used breakout technique. Just waiting until 5-6 green bar in the row and you're ready to enter. This filter is definitely veryuseful to reduce Stop Losses. If you can reduce failed stop losses to 50%, imagine how much you can make.

Hope this helps, question and suggestions are welcome :)

Happy Thanksgiving.

Wednesday Result

Total = -28 ticks
6A = -14 ticks
7E = -16 ticks
6B = +2 ticks

I am not too good as a swing trader. My GBP offered me 70 ticks and I passed it. Targeting +100 ticks, I've never had that experienced before. I thought that I suited just at 30 ticks Trader.

Bad trade came from AUD and EUR. Chopped out to pieces and afraid to re-enter every signal. Bad Decisions. I am afraid I can't fullfilled the monthly target.

Losses is dangerous for health. I must eliminate this negative feeling.
Mistakes:
1. Too early entering the market.
2. Not entering every signal.
3. Don't have Profit Taking Policy, should trail the profit.

Still in the market. :)

Tuesday Result

Didn't upload chart. Too many trades today. I was targeting 20-30 ticks today, since there'll be lots of holidays. I trade based on SuperTrend and Consolidation Breakout. No Bias at all. I felt like in war today. Shot, cover, injured, etc.

Chopped out by AUD early, and EUR made good swing today. GBP = Dead.

I made poor execution that costs me >$100. Should more focus in execution.

One fortunate mistakes, filled out the forgot-to-clear order. Set SL 0n 5 ticks, and it went 50ticks :). Covered at 31 ticks. Should not trade GBP since it's too f***ing chopped.

Should not touch GBP at all, cost me 15 ticks.

Overall:

7E = +36 ticks

6A = +11 ticks

6B = -15 ticks

Total = +32 ticks

Glad I could trade quite good after yesterday's blowout. Happy Thanksgiving for those who celebrate it :)

Monday's Fault

Tick Remaining: ++70 pips

I was against the trend today. I can't even dare to look upload the result. I was still down 130 ticks for target this month.
I kept repeating my own fault. I don't know. I need to go to therapist. My fault was: I started to develop bias again. This ain't a good thing to do. Neglecting all short signal, and in the end, I was failed.

My encourage here's I still had a positive ticks which is something to be grateful for.

I kept saying this was my last mistakes, my last mistakes, meanwhile I kept repeating the same mistakes over and over again.

Tomorrow's plan: Back in 1 contract, still 130 ticks to go. End of today's trade.

If some of you have experience to eliminate bad habit, please, let me know.

Friday Result

No News, Quiet US Market, Soared EUR. No Reason to short really.

Friday always been my cautious day. First, the movement different from other day. Second, it's very painful to close the week with red.

Net Result:

7E = +10 ticks

6E = +4 ticks (not shown)

Waited one and half hour for twenty ticks is not a typical day to trade aggresively. Closed the week with small profit. Enjoy the weekend, and forget bout market for a while :)

THURSDAY = FIRST DAY PHASE 2

6B = 0 ticks

7E = +16 ticks

First day started with chopped-chopped as usual. And sometimes I added 1 contract with no luck. My strategy is scaling up at working trades. Not moving to 6E yet, but prefer 7E 2 contracts. 6B entered first contract and no reason added another one until it came back on par and no flipped.

7E actually had nice short (mistype at chart) and saw the inverted H&S. First I thought it's failed. But suddenly price broke the neck and I got out with small losses plus flipping. No chance to enter 2nd trades and price already soared. Sold it at 36 with nice 46 ticks.

Summary:

Tired of being early chopped almost every day. Today's better than yesterday. My scaling up strategy failed today. But I still don't have guts to trade 2 contracts directly.

Update: 200 ticks Breached!!

6B = +3 ticks

Accumulation = +201 ticks

Decided to fight my mental barrier, strived for 3 ticks. One Month Objective formally Complete Today :)

Plan for Next Phase:

1. Not directly with 2 contracts, but more with blended contracts. Means there'll be no one contract (6B) traded from open to close.

2. If Accumulation closed below 200 ticks, then back to the phase one. 200 ticks will become the new support.

3. Every tick gain will be treated as two contracts in play. Every $$ I made will converted to ticks and divide to two (except 6E,6J, and 6A)

Wednesday Result

M6B = worth -2 ticks

7E = -13 ticks

6A = +32 ticks

Total = +17 ticks

Acumulation = 198 ticks

M6B was just an failed experiment. PT just 3 ticks too high and SL 5 ticks too high. One of them okay, then I'll made 20++ticks.

7E, another chopped chopped day. My biased told me to get long, but no biased here. Enter short-long-slipped-short-long. So confusing, and down around $300 before last trade took off. Slow movement made me sick so I got out too soon.

6A, I took the bottomest bottom of the candle. Not even 1 tick lower. Riding it, stalled at 0.9730-ish. Planned to got out at least 43, but worried it's already at top of channel. When EUR soared, the AUD stalled. Got out 0.9740 and it took off to 0.9755. I think the AUD need more time to think before it moved.

Ticks remaining = 2 ticks left. I think it's my mental block to avoid reaching target today. That's fine. I have next day hopefully. Overall a very good market to trade. I just getting in too soon. If I just entered at 03.00 am EST, I might fulfill my 200ticks today.

Tuesday Chop

7E = -14 ticks

6B = +35 ticks

Nett = +21 ticks

Frustrating movement from all three majors. No move further than 15 ticks. Made one mistake when the 7E infamous slippage appeared. But one time also saved me from stopped out spike. Called it even.

6B also become living dead, until I long 1 min before PPI news. Lucky I was not stopped out when spread widened. Lucky again price soared after news. And another lucky got out around high. Really, when I typed this the price finally moved....Timing...timing...

Total acumulation for the month = +181 ticks

Notes for improvement:

Dunno what, the price were dead, I still kept my cool, mistakes, well happened all the time. Maybe should more patient waiting the price moved.

Still Looking Breakout Filter with no luck !!!

Why Price Move?

I watched Mark Douglas 'Mind over Market'. He told us that as trader, our trade depends on other people who want bid/ask price worse than ours. That made our profit. It's very true. But those statements may lead to wrong opinion about price. People who watched it will think they must enter first before others so they get better price.

What people not think is like this:
Not price movement come from other people who entered the market. It may come from people get out from market. Whether it Profit Taking or Cut Losses or Margin Call. In Fact, the most higher probability trade come from here. They were forced to move the market, like being Stopped Out. Why Price going higher and higher and seemed illogical to buy there but there're still price move higher even on the peak price? That's Cut Loss or Stop Loss in Play!!!

Sometimes it's okay to entering late or at the worse price because trading with the trend will force the opposite direction to get out, and that's also movement fuel. Oh and by the way, pro-trader sometimes long on overbought not thinking it's still cheap, but they know the price can still go up.

Monday Early

Looked at the movement, more than 60 ticks drop from GBP. Sigh...

Got out, afraid of double bottom. It was, before it broke and dived another 30 ticks

I was wrong about bullish prediction :)

EUR = chopped early but then dive

GBP = weak but also chopped early

AUD = living dead

Seemed to me Monday is not really my day.

GBP = +20 ticks

AUD = +3ticks

Countless Opportunities

Last week trades offered dozens of opportunity to take. My system was like my personal ATM if I didn't get greedy. 8 ticks, 10 ticks, 15 ticks. If failed, just wait another signal. I'll give u example at Bank Holiday. It's still possible gaining 10-30 ticks per trade. Easy money...

On Chart there're -10,-10,+35...if continued there'll be +22,+19,-10.

So with the RR ratio 2:1 on Bank holiday, the profit may -10,-10,+20,+20. That's 20ticks already. Discipline and Patience is virtue.

Trading is surely an easy money field for those who mastered it. It become financial doom for those who dunno. Another easy money mindset planted in my mind :) so far so good...

Monday Plan

6B or GBP/USD:
Broke previous' day early then backed and make slight new hi/double top showed sign of reversal. But price seemed to have strong resistance from 1.6180, 3 days high.
Planned:
Watch for critical zone at 1.6180 and 1.6000. Broke above 1.6180 is the sign of trending.

6A or USD/AUD:
Crisp Down-Channel seemed nowhere near breakout.
Planned: Watched the price if move near channel, sign of decent movement.

6E or EUR/USD:
Already broke and pullback 1.3656 at old down-channel. May showed sign of strength.
Planned: Already at critical zone, if upside make new channel, downside probably back to old channel.

Summary:
Light news on EUR and decent news on US may impact to slow moved at London session. If Aisan session was slow, then there's chance at London. Anyway, US may give decent impact to price. Overall market seemed bullish for the 3 major. No significant resistance except for 6B. And if 6B Res cleared, the others may went up freely.

Friday Result: Lack Of Discipline

7E = +41 ticks
6A = -9 ticks

Accumulation : +137 ticks

I remembered when I lost patience and entered after being stopped out. Brought more harm than good. Today's good surely rare opportunities.
Make story short, I re-entry 3 times after being stopped out. Without clear signal. I broke rules about bias. This kind of habit may ruined me again in the long run.

Good things is I could sit on my hand until my profit target reached. Why I did it? I raised my breakeven to slight profit and have confidence if I was stopped out I still had chance to make it back. Confidence plays big part in this profession.

After all : more than 100 ticks in 6 days surely a good progress in my project. Next week strategy is: I must supressed the re-entry emotion. I used to be patient and calm waiting the setup to appeared, and I must get that mental state again!!!

!!! I Must Remember It !!!

Thursday Scratch

Saw narrow opportunities, entered and gain +6 ticks. Even in Bank holiday, there're some opportunities worth 10-20 ticks per signal.

6E = +6 ticks

Accumulation : +105 ticks

Summary:

Today's trade surpised me. Less noise, crisp signal, solid trend. Not much movement but very tradable. Tomorrow will be a cautious day due to 'Between Holiday' Day and G20 Meeting. Expect a more decent result. Planned to trade cautiously, entering at deep pullback at 2nd faked.

Surprisingly have a nice ticks for the last 5 days. If I breached the 200ticks spot before end of month, I'll move to the next phase. :)

Wednesday : Old Habit

Today should be a great day to trade. I start with high expectation and chopped out into pieces. I was down -78ticks before recovered again. I leveraged my position to recover. Up around +2oticks entered the 6A trade. Another chopped out again :(

I was not entering every signal but every signal I took sent the wrong move and vice versa. My last 6B trade waited for major news with breakeven position. Almost stopped out and suddenly the price soared!!! This was lucky trade but not fully lucky since the signal appeared after the news.

My old habit striving to win came again and downed me to big losses. I was just lucky with the recovery trade, also not entering every entry, not flipping, not re-entered cost me money.

Using 6E trade should be forbidden until I reached 200ticks profit. Worse, I used two of it!!!!. That's skipping to phase four!.

No Chart for today's trade. Too much and actually no unplanned-trade, maybe one and cost me just 5 ticks.

Today's result:

6A = -10ticks

E7 = -34 ticks

6E = +52ticks

6B = +34ticks

Overall: +42ticks

Summary:

As expected, Currency moved nicely. Too bad I was chopped out early and loosened a bit with my entry. Next time the big losses may swept me to big ugly red. Should find remedy to conquer the profiting passion. One off the method should swing the price further.

Tomorrow will be quiet day, US holiday and so on may freeze the market. Not mention the G20 meeting. Should trade lightly or better...not trading at all enjoy the life :)

Tuesday Result : Not So Discipline

6B Trade: afraid of missing the action, I tweaked my setup to little aggresive. Switched to 4 Candle Periods. If I was disciplined according to my rule, I may downed -10ticks instead of +21ticks. After stopped out, I thought about my experience of stopped out at exact tick. I entered with the risk of 3 ticks (top of previous candle). The trade worked out, and 2 consequtive days I exited near the top/bottom. Luck involved in this trade.

The real working trade came from AUD which I missed. Not entirely my fault since the setup came at the exact time I started to trade. 30++ ticks surprisingly came from AUD but if I took it I may got out at 15 or 20 ticks at max.

Summary: Another major movement at Aisan Session with Little News especially at US Session. Expecting another dull market at Europe through US, US particularly. But instead there's modest active movement on almost three of them. Not so eager to trade more since no significant news. I might fail to catch if there's drawdown at US session.

Result : 6B = +21 ticks

Accumulation so far: +57ticks

Monday Result

First start with 7E, broke my rule, I started little early. Short after deep pullback. Moved 15ticks my favour, lowered my SL and stopped out. Just part of trading. If I flipped according to my rule also, it moved more than 20 ticks. Too bad I was not buying it.

6B, also not waiting for a faked out. Entered quite high waiting quite long and moved at least to previous' day low. I can sit in my hand long enough not to bail out the slow movement.

6A had nice fake out and moved around 11 ticks. Another missed opportunity.

Still on track, but need more discipline. Tomorrow should be a great day.

Net result for today:

7E = -7 ticks

6B = +28 ticks

Nett = +21 ticks

As expected, not much movement from no news Monday plus big movement at Aisan Session, leaving just fractals at London session. Tomorrow also no big news from US, so trading at London Session will be good. The plan is more aggresive than Monday but not too aggresive than normal days. Accumulation of +36 ticks so far, still on track. Need bigger swing to protect the profit from choppy days.

Easy Money Perspective

Am I believe that making money is easy?
If making money is easy, then there will be more rich people than poor people.

Well, maybe they are not much people who want the easy money. Or they have different view about easy money.

If I am working so hard finding the suitable system for trading and it worked, is it an easy money? It become easy when I find one.

Trading is where the easy money come from. With proper capital, discipline, patience, and the right system, I can printing money from the market. Day by day. I also believe when my mind convinced that making money is so easy then it will become reality.

Even when I had bad days in trading, I still believe that making money is easy.

Of course, sometimes I have to give money in order to make money, but almost everything in this life.

Many people have wropng perspective about easy money. They thought easy money means come from little effort. I think money become easy when the hard work pays off. Think about the business. When the business is running properly, the owner just need less effort to create more money.

Same thing goes to trader.
As a trader, when hard work pays off, it's easy to make money. Require almost zero effort. All I need is watching the screen, saw sigals, executing, and making profit. That's it, almost in daily basis.

Why most trader losing money, it because of lack of discipline, patience, and less hardwork. Also experience come as intangible asset, though not too requred.

My believe is I can make 200 ticks a month on average, and that's minimum as long as I kept my discipline and patience.

All my life, I have never imagined this kind of work to make money. Freedom and great potency. And I also believe that my system need less adjustment through time since I used an ancient pattern. I believe my pattern is worked since the market was born. And it will keep doing the same thing until market is cease to exist.

I even have the confidence to show live in public making 10 pips in real live. Nothing sort of 100% winning ratio, far from it. It's about cut losses early and take profit a little late.

First Day Of Journey

Start the journey with a nice decent ticks.

7 E = -10 ticks

6A = 14 ticks

6B = 11 ticks

Total = +15 ticks

6A traded as plan. First faked, entry at 2nd signal and exit based on discretionary.

6B traded after Non-Farm Payroll. Volatility forced me to get out fast before price got back to my entry.
Little accident when 7E got filled at the bottom while 6E chart didn't touch it. Cost me 10ticks and worse, unfilled the up-move since the price moved too fast.

Missed two working signal.

First the 6A down-move. Didn't see the wedge already forming and price already moved too far and no pullback.

6B around 1 hour before Non-Farm Payroll. Another faked and nice signal. I was too complacent thinking that there'll be no movement before the news.

Summary:

Good trade, good market condition. I could took more pips if the accident didn't happen and not missing the signal. But overall a decent trade for today.

Monday expect a slow day. Maybe enter on third faked with quick Profit Taking. Have a nice weekend :)

Business Plan

This is my Trading Journey Mastering The Currency World. Start from this November 2010. Though a little late, but still achievable.

I choose Futures Contract over Forex because of the convenience and suits my personal style.

200 Ticks seemed too small for a month. That's equal 200 Pips per month. The reason to do this is to make my brain to think it's easy to do. 200 Ticks per month average of 10 Ticks per day. Definitely possible to achieve.

My strategy here doesn't mean I stopped trading after 10 Ticks profit on that day. It's more discretion on taking profit based on market condition.

My technique is entering the faked breakout which I will update every day.

So, let's the journey begin...