May 30 2008, 05:38 PM
QUOTE(normeck @ May 30 2008, 10:27 AM)
my 1st USD100 can stand about 1 1/2 month...this is my 2nd USD100 and going for 2 month i think....before i bank in my 2nd capital...im already analyze all the possibilities ....
another things is
when i trading...i go read all the trading system..then i saw 4hr Macd la...fibo trading la...pattern trading la....after i try all that...then i got confused...arghhhh!!!....
thats why la...
wanna ask something...
if ur trade hit the SL...what will u do?...open reverse trade?...or just waiting?
bro... go bc to basics... dun try to learn system 1st... learn d core of technical analysis... go read d book i recommend .. written by john j murhphy... it wont boost ur profit or wat soever, but it will giv u a broader view wats d basics of technical anaylsis like trendline, interrelated market, chart pattern bla bla bla , but jus skip d chapther points n figures... coz our metatrader got no these kind of charts..another things is
when i trading...i go read all the trading system..then i saw 4hr Macd la...fibo trading la...pattern trading la....after i try all that...then i got confused...arghhhh!!!....
thats why la...
wanna ask something...
if ur trade hit the SL...what will u do?...open reverse trade?...or just waiting?
if SL been hit, unless u can see wat was happenin, d best choice is stay sideline... admit ur forecast is wrong...
IMHO, u shud stick to ur tradin plan ma... dun try to find reason to hold...
Added on May 30, 2008, 5:43 pm
QUOTE(mphpopular @ May 30 2008, 11:11 AM)
Ok, i juz share what i'm doing as answering your question as well.
I will keep on stay wif one methodology (method). Mean as you can see, from my graph, i only use EMA 34, DMI , CCI and MOM as my confirmation tools, and those trendline, support and resistance.
1) Methodology
i search for one method whereby could suit my profile. After i keep on testing it, although i lose, i will keep on try, wont be changing to other methodology. The only thing i will do is, changing the setting, and add-ons.
At the most beginning, i use EMA 34 only, after that i use DMI 14 and CCI 14. But after that, it make me alot of lost trade. So in order to filter out the bad trade, I use DMI 20 and CCI 20. After that, i slowly found out MOM quite suitable for me, so i use it as well. MACD i got use, but after a while, cant suit my pattern of trading, i kik it off.
I believe you also have one kind of method like some people like to play momentum trade, only trade when there is break of resistance and support. Keep your chart simple is what does i believe. Some people can trade succesfully wif only using cross at DMI.
2) Discipline
sometime, emotion did take over my discipline as well. That when i start losing. try to control emotion, so that you wont stay far away from your methodology.
3) Stop Loss and Target Profit
Risk management i duno wat is that. people say, risk profit ration muz be 1:3 in trade. But i dunno la. I juz set my TP and SL. trade often touch our SL and then reverse, but no choice, that is my luck, i would juuz accept it, hunt for another round. Some cases, i will set my SL to maximum,100pips.
AFter trade touch my SL, i wont easily go in the market, except, my mind is clear enough, and indicators telling me OK.
Often, after one losing trade, my mind will full of anger, and i will choose to go out take abreak.
4) Play slow and steady
Play smaller lot. I saw on an ebook. "If you cannot trade 1 lots succesfully, can you trade 50 lots succesfully?"
This is the reason i still using micro lot. I wan to get the excitement of real money, but i really is a poor people. So, until the day i can manage my microaccount successfull, that is the time i will enter market wif mini account.
That's all i think. Juz wish you good luck brother. I wish this thread is to helping each other. Plz don't laugh me and scold me, bcoz i losing right now as well.
nice stuff ^.^I will keep on stay wif one methodology (method). Mean as you can see, from my graph, i only use EMA 34, DMI , CCI and MOM as my confirmation tools, and those trendline, support and resistance.
1) Methodology
i search for one method whereby could suit my profile. After i keep on testing it, although i lose, i will keep on try, wont be changing to other methodology. The only thing i will do is, changing the setting, and add-ons.
At the most beginning, i use EMA 34 only, after that i use DMI 14 and CCI 14. But after that, it make me alot of lost trade. So in order to filter out the bad trade, I use DMI 20 and CCI 20. After that, i slowly found out MOM quite suitable for me, so i use it as well. MACD i got use, but after a while, cant suit my pattern of trading, i kik it off.
I believe you also have one kind of method like some people like to play momentum trade, only trade when there is break of resistance and support. Keep your chart simple is what does i believe. Some people can trade succesfully wif only using cross at DMI.
2) Discipline
sometime, emotion did take over my discipline as well. That when i start losing. try to control emotion, so that you wont stay far away from your methodology.
3) Stop Loss and Target Profit
Risk management i duno wat is that. people say, risk profit ration muz be 1:3 in trade. But i dunno la. I juz set my TP and SL. trade often touch our SL and then reverse, but no choice, that is my luck, i would juuz accept it, hunt for another round. Some cases, i will set my SL to maximum,100pips.
AFter trade touch my SL, i wont easily go in the market, except, my mind is clear enough, and indicators telling me OK.
Often, after one losing trade, my mind will full of anger, and i will choose to go out take abreak.
4) Play slow and steady
Play smaller lot. I saw on an ebook. "If you cannot trade 1 lots succesfully, can you trade 50 lots succesfully?"
This is the reason i still using micro lot. I wan to get the excitement of real money, but i really is a poor people. So, until the day i can manage my microaccount successfull, that is the time i will enter market wif mini account.
That's all i think. Juz wish you good luck brother. I wish this thread is to helping each other. Plz don't laugh me and scold me, bcoz i losing right now as well.
last but not least, plan ur trade n trade ur plan... not forgettin, control emotions!!!!!
Added on May 30, 2008, 5:58 pm
QUOTE(mphpopular @ May 30 2008, 03:00 PM)
I juz give people comments and advice, and in another hand, i losing money. Haiz. I need evaluate myself as well. Why yesterday no win no lose, but today losing since morning...
bro.. u noe y now alot people like to giv speech/ analysis but vry seldom trade? they r same like u n me... never able to control emotion.. it will happen again n again... in order to compensate this, we need a VERY good tradin system which can forecast d movement in high accuracy...This post has been edited by low yat 82: May 30 2008, 05:58 PM
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