our next Eu/Usd movement , i suppose ? i'm waiting for the correction to be end

Wooooh, so much happenning in just a couple of days. Well, still in Thailand.....relaxing....trying to find a good trading strategy. I'm taking the long, slow way to trading, doing small things at a time.

Guess the younger trader are more highly charge, old trader like me (newbie) do it so slooooowly. Anyway, still in Thailand, and don't have full time internet access. Just dropping by to wish every one happy successful trading.

Hope every one can find their own repective stress-free successful trading style. As i don't have a successful trading strategy yet, i find trading very stressfull.

Chat more when i go back to Malaysia.......me, i'll relax on the beach.....wait for another sunset, visit some temple, get some massage to activate my Yin & Yang, be fresh and go back to start trading again.

Thomas; add oil. You can only become outstanding by doing things that go against the 'Norm'. You are still young, go live your dream. The most important aspect is the experience or living your dream. Result is secondary. Do all you want to do when you are young. Hope you get 'rebounnce' soon.

I was young............before......

wat time(in malaysia) does MT4 platform daily chart switch to the next session? seems like diff broker hv diff time session.. @@

This post has been edited by Volatile369: Mar 27 2010, 11:34 AM

i dont bother MT4 time. i use gmt+8 with help from fxfactory calendar and also the market open/close on page 1. MT4 time sometimes can be quite confusing

Hi,... I will be back..

add oil!

good to hear you having fun... i guess you doing superbike riding.. ...

there are lots of way to be rich, have u tried other safer lower risk method? like our KLSE stockmarket warrants or FKLI?

The No. 1 Reasons to Be a Systematic Trend Follower

Want to be a millionaire? Start thinking and acting like one! That means joining the minority who make sound moneymaking decisions every day. How? All traders must pass through the enlightenment barrier before they can win big and it all starts with superior investor education:

Profit in Up and Down Markets:
Trend following doesn't swear an allegiance to a bull or bear market. It follows trends to the end. No matter how ridiculous trends might appear early and no matter how insanely extended they might appear at the end, follow trends. Why? Because they always go further than anyone expects! Ignore momentum at your peril!

No More Buy and Hold, Analysts or News:
Trend following decision-making doesn't involve discretion, guesses, 'gut' feels or hunches. It's not day trading or buy and hold (hope). It doesn't involve passive indexing, in and out trading or fundamental analysis. No more 24-hour news cycles, daily turbulence or sensational hype. No black boxes or magic formulas either. Hope is the most addictive drug! Let go of the Holy Grails! The good news? Complete beginners can learn trend following.

No Prediction:
Trends exist everywhere, always coming and always going. Whether fashion, business or whatever, we all want to find trends and ride them as far as they can go. Markets are no different: they trend up and down too. That said, no one can predict a market trend, you can only react to them! Trend following never anticipates the beginning or end of a trend. It only acts when the trend changes! However, there is no need to figure out 'why' a market is trending -- just follow it. You don't need to understand electricity to use it!

The Big Money of Letting Profits Run:
Trend following aims to compound absolute returns. It doesn't shoot for 'average.' Do you really want to be exactly like your neighbor? The goal is to make the big returns, not generate passbook savings returns. Trend following also has the unique ability to lie in wait for 'targets of opportunity.' That means 'outlier' events (read: unpredictable surprises like the 2008 market crash) can make you huge money!

Risk Management is Top Priority:
Trend following always has defined exit protocols to control 'injury' to your account. Stop losses and proper leverage usage are standard practice. Trend following also has low to negative correlations with most other investment opportunities. It eliminates exposure to groupthink and toxic assets. Eliminating exposure is a winning move whereas hedging can actually increase your exposure! Trend following is the best protection for when bubbles pop and everyone starts running for cover!

Takes Advantage of Mass Psychology:
Markets, which are always changing, are only our subjective expectations reflected objectively. Interestingly, people's reactions to change always remain the same (i.e., they bet wrong as a group). Trend following takes advantage of 'panicky sheep' behavior to make money. How? Strict discipline minimizes behavioral biases. It solves our eagerness to realize gains and reluctance to crystallize losses. Let's face it too many people believe what pleases them and social conformity means that even if the group is wrong, we go along. Most behaviors are simply driven by the impulsive moment of now! They aren't purposeful, thought-out choices. Trend following wins because of that!

Scientific Approach to Trading:
Trend following doesn't require a belief, but rather it relies on unwavering principles proven over decades. It has a defined edge just like the MIT card counting team that beat Vegas casinos (read: mathematical game theory from the movie 'A Beautiful Mind'). Be the casino and not the hapless player! How? Trend following uses hard rules rooted in numbers (think process not outcome). And remember, frequency of correctness does not matter, the magnitude of correctness matters! 'Winning percentage' means zilch. How much time will trend following take? No staring at the screen drinking 'Red Bulls'! Once you are setup, minutes a day is all you need when you approach trading like an engineer.

Strong Historical Performance in Crisis Periods:
Trend following prepares for the worst at all times. It is adaptable to differing climates and environments performing best during periods of rising volatility and uncertainty. Guess what? The unknown will happen again! Are you ready? You have to be able to ride the bucking bronco while also riding the storm out. But that said, the day you have to do something, you are screwed! Trend following, like a lion waiting to strike wounded prey, is very patient.

No Traditional Diversification:
Trend following is not restricted to any single market or instrument. A focus on 'price action' allows trend following to be applied to an exceptionally large variety of markets. Price is the one thing that all markets have in common. That means a system for treasury bonds will work on the Euro too. And if you switch it over to coffee, something totally different than treasury bonds, it still works. Trend following is robust! But don't expect the 'tape' to lecture you. You have to trust your buy and sell signals and follow all rules!

No Government Reliance:
Forget Social Security, bailouts, stimulus plans and roads to nowhere. Those won't help you to make money, but they might help you to lose money! When the Fed takes the 'training wheels' off the economy will you be ready to mint cash or will you just sit there and take it again? If your portfolio is grounded in sound principles you can win, but the government has nothing to do with sound anything!


----source: http://www.trendfollowing.com/-----------

This post has been edited by bulkbiz: Mar 28 2010, 11:56 PM

Good article, but perhaps you should credit the source.

http://www.trendfollowing.com/

Wow kevler ur an elliot wave enthusiast!

hi guys,

seen the way u guys trades, would to ask a few question

have u all heard about SRDC1 trades? or 3 abdul trades? or fibonacci trades?

---

Added on March 28, 2010, 7:42 pmwould like to share some trades which me n my team get

this is my trades


and this is one of my team member




This post has been edited by skcs1985: Mar 28 2010, 07:42 PM

hehe ...i'm still learning ..

by the way ...credit goes to TheLFB team .. their chart seems almost perfect to me ...

Haha, elliot wave is interesting, hope to learn more from u in details..

LFB u mean a charting software? yea i think i saw their free version before in dailyfx.. not bad thou.. =)



skcs1985: Hi der, from ur acc i assume ur a scalper? anyway u hv gud performance record, keep up the gud work..

did anyone update their MT4? i'm on build 220. i try update just now, after restart, it just crash with errors. luckily got backup files.

FKLI? my learning fees was RM60,000 for that one.. thats in 1997.. big important lesson "your broker is as clueless as you are, dont bother listening to their inputs" if I had followed my tech analysis.. I would have made half a mill in that trade alone.. plus I have zero money management..


if you wanna become successful in fx, "decide now"..
if you just wanna have fun trading,, this is not the place.. better of go genting or cosmos and ride the roller coaster..
to become a surgeon you need 12years of formal study and another 6 year med school.. and another few years intern..
to become fx trader... there is no set pre requirement.. thats why so many "patient"(account) dies..
after you decide... make "commitment".. have "passion"
some people are born with strong will, some need to work a lot harder to get where they want to be...
with strong commitment & passion you wont dance with "distractions".. you will keep going to your destination.
fx is a business... a serious one.... we can use the numbers how many business failed, 9/10 will fail in the first year.. and the 10 that survive will fail 9/10 in 5 years..
but also remember that you will fail maybe up to 9/10 times before you become successful (provided you learn from your failure)...

This post has been edited by Sham903n: Mar 29 2010, 11:43 AM

LOL and HUAAA, you lost 60k in FKLI! Don't worry, I am sure you can earn back in forex

yeap.. best thing compare fx to futures... it dont expire and force you to liquidate..
compare to share... companies go bankrup... share become worthless

This post has been edited by Sham903n: Mar 29 2010, 12:52 PM

1997 everyone was bullish, even brokers, din knw it dropped that hard..

This post has been edited by Volatile369: Mar 29 2010, 11:22 AM

hi guys if i only want to trade with mini lots, (though i'm 21 i'm not that energetic as thomas..hehe), will 1000usd be too much?

what is the first step that i need to do? go to the bank and open an overseas account?

p.s. GU resistance 1.4936 still holds for me, my view is still bearish but if 1.5 is broken then i'll go long. still holding my shorts.
on demo account. trying to limit my trades to 5 per day and not being greedy and chase trades. still working on it.

hope u all have a good week ahead!