My Forex Trading Exposed | River of Pips

12. ‘Screen time’ is magic in Forex Trading.

noreply@blogger.com (PipsRiver) — Thu, 07 Oct 2010 14:56:00 +0000

Screen time or your hands on experience with the trading on specific
method/system is the key element in determine success.
Without this,even if we are exposed to the best system in the world,
we have slim chances to be successful.

When we get the strategies/system we must live trade with it and get used.
Training and practicing with the system/strategies is important so that we
will know the flaws and drawbacks of strategies under different market condition.
Many times, at first the method is seem OK until one day when the market
comes to an extreme condition that the method is out of sync and not obey the rules.
So, what to do under this condition? That's the question.
We must practice and try the method over long time because it is involved
your mental strength and preparation on how to make decision and react under
different condition. We must study whether under condition,it is good to entry
or stay aside, where to put stoploss,where to exit,when to cutloss and how
to put away the wrong emotion of greed, fear, patient,reset and to keep
discipline with the method.

Try it for 6-12 month to trade profitably with the method until success.
Don't jump from method to method if one seem not Ok and make early
conclusion and immediately blame the method .
We need to study it and write down all the point and make a lot of practices.
After one failure, please ask ourself this checklists on what went wrong:

1) Is the method is not ok or I don't have enough try under different condition?.
2) Am I alter and fix the method to be comfortable with myself not the market?
3) Any emotion during it such as too greedy,not patient,no discipline and
no money management?
4) I already face same thing before and what I have done supposedly.?

If above is seem difficult,then I would said that there is no better route
for us to be succesful.In order to mastering the method,we need training
and training and make self correction until we are consistent mentally
and technically.

Same like other jobs and during our study time; we study for how many
years to get degree,diploma or become professional workers or sportsman.
In forex trading also same,we need to go through learning curve until
we get used to it and we are naturally become handy with the method,strategies or system.

The 'Screen time' will revealed us the success secrets.
The longer is the better.
Like the 'light at the end of tunnel'.

See you'll later.Till next post..Bye then

11. What the Forex Expert won't tell you..

noreply@blogger.com (PipsRiver) — Sun, 26 Sep 2010 03:58:00 +0000

What is the route to be succesful Forex Trader?
It is called persistance.Just stick to it like a
a flow of a river.There is many hurdles and resistance
along the ways but we must face it and take it one at a time.

Forex trading is for peoples with strong heart and willingness.
If your target now is to get rich immediately.
Please change it to this "I want to stay as long as possible
trading forex".One day,I will be succesful...

The secret to success that the forex 'guru' won't tell you
is about the 'Screen time'.Because they are too busy selling
their method and strategies without telling you what is
necessary to be succesful with that strategies.

The example is like this,if one succesful forex expert have 100 students
under him. Why is only a few student is succesful and the other
is mostly failed..Is the system is not good?? Mostly not,
because usually the system is already proven to make millions.
Do you ever wonder why after using 'the best system in the world'
also many still failed to make money consistencely.?

I will revealed it in the next post about the
secrets of the screen time.

10. Trade Forex and Enjoy!!

noreply@blogger.com (PipsRiver) — Thu, 23 Sep 2010 13:47:00 +0000

Forex trader little secret.
While you are trading don't forget to enjoy yourself.
Don't push ourself to be rich as quickly possible.
Observe the market flow and analyse it in simple ways.

Sometimes we are INDICATOR lover and collector..thousand of them.
Then we put lot of its in our screen.Try to combine and fit curve.
At last we also fall into confusion with it,which to follow best.
To enjoy,don't be too complicated.Keep as simple as possible.

Don't be like robot.In front of screen all day long watching terminal.
And follow tick every tick of every movement.
Give your mind and body a rest.Just watch,in timely manner.
The chance is you will tend to repair your position Stoploss and take profit
if just keep watching and watching...
The best is 'set and forget'.

Enjoy your profit while it is still in your favour.
Don't let the market take it back from you.
If you try to built it like mountain at once,
possiblity is we make mistake and lost again.
At the end of the day,withdraw it or on Friday withdraw it!!
This is our hard earns money, we deserve to enjoy it!
Or save it somewhere else,not in the trade account.

Hahah..That all for folks..Enjoy trading!!!!

9. Stoploss - Part III

noreply@blogger.com (PipsRiver) — Wed, 22 Sep 2010 14:27:00 +0000

Stoploss itself is design to be hit.Please understand that and put it in our mind.
It is our saviour and our friends in difficult time,especially in extreme market situation.
Trust me,the big moves will occurs every month.And at that time,nothing can stop it from crushing
your position if you're against it.If your position is in the market direction,you will make big money.
So,the smartest thing to do if you're against it is to liquidate the post and runaway,then live another
day.At least we still have some money on the table to trade tommorow.

If we are trying to fight the market moves,surely we don't have enough resources to do it.The market"monster"
will surely crushed you to death.If you have enough resources,you're free to fight the market and
I wish you good luck.

The stoploss supposedly not easily being hit.It is being position,such that if it is triggered because our
position is actually already against the market direction and to save us from further loss.
The other function of it is for risk player.Timing to enter the market at lowest possible risk value
just to get the most profit out of it.This usually happen at swing point,strong support and resistance and
breakout.If the timing is correct,we can put small stoploss to the ratio of very big gain 5 to 6 times of
the risk without being hit.Using this,even if our stoploss being hit,we just lost small margin without
any regret.And we are back in hunting again,wait and wait to make our best shot.

Believe me,out of 10 position if 4 is ruled out by SL and the other 6 is hitting take profit,
you still make decent profit overall because using this method the risk/reward is still big.
In simple word,your loss is still small incompare to profit gain.
As a small individual forex trader, I love to implement this second option and comfortable just to be a
guerilla and waiting to make an ambush and get rewards.

"If you can't kill a bear because of it strength,use the bear strength to kill it"

8. Stoploss - Part II

noreply@blogger.com (PipsRiver) — Wed, 22 Sep 2010 12:52:00 +0000

Back to our main topic about the stoploss.
At the early stage of my trading career, I also don't like to put stoploss just like any others new forex traders.
As a consequence, I blow out my account every month,which is very hard knocks.

Why?That the question in our minds.When we learn about trading, people always say please put the stoploss(SL).
Ok,I will follow your suggestion and put Stoploss.But,everytime I put stoploss(SL) in my position,it just
being hit everytimes until we are give up about it.Then we are back to zero and thinking better I don't
put Stoploss(SL) because if I put it, it will be hit again before reach my take profit and become useless.
It just like"de ja vu",not to put stoploss again and left the account unattended just to see it blown off
again and again and again....which is very bad move.

Over the time and when I gain more exprerience,the market has taught me bitter lesson.The lesson that will
entomb in my mind forever as long as I still be in this arena.Whenever I want to enter a position, my first
thought is where do I put a stoploss for this post,if not I won't enter it at all.It just like a sin if
not putting it in place.I just prefer to miss some of the market great move if I can't draft out where to
put it comfortablely based on my analysis.The past experience is just keep haunting me.
Why your stoploss is always being hit by this monster forex market.It look like that this market is being
setup by somebody and they know where your stoploss is.This is seem unfair to us.
That maybe partially correct,if you think so.Because the "big players" and accumulative action of
"market makers" can dump tones of money at once and make the market moves in their favour.
And of course hitting your Stoploss on their ways.Sometimes, just hit your stoploss and turn around.
We just cannot stop this "big dogs",they are just one of those market elements.What we would like
to do is just to ride their back and take some portion wherever we can along it.

In order to make profit and without left the Stoploss in every position is not an easy business.
Putting correct stoploss is an arts,experience and skills in itself.
Difficult you say.Honestly,I would say,yes it is.This is not 'get rich quick' scheme,this is real
deal just like other market like equities,stock,option and others.It is the turf for the people
with knowledge,experience and correct strategies.In order to make money consistently,we need to
go through the 'learning curve'and prepare ourself with all the correct knowledge and gain experience
just like any other jobs.

7. Stoploss - Part I.

noreply@blogger.com (PipsRiver) — Wed, 22 Sep 2010 11:50:00 +0000

Stoploss is very important element in forex trading.
If somebody ever asking "do we need to put stoploss(SL) in any position we enter??
I would answer "It is mandatory,you must put stoploss in
every position you enter to be succesful".

Some might be thinking,I don,t like to put stoploss
and still can make decent profit out of every position.Yeah,he may be correct at this
time being before the market go against his position and the negative become bigger and bigger.
At this point,he is complaining to the market,"why do you ever stop and reverse, please..".
Even at this time,there is still little hope left and he would say
"After this it will stop and reverse and my account will be safe".

At the end,may be he has a luck and the market will reverse just in time
to save him some margin at least.In many case,nothing can be done until the
the "red light" is blinking just to see the account is blown away.
What's an ending after you're waiting and thinking day and night just to
defend it from margin call,but it just work against you.
The market is just very cruel and you're hopeless about it.

continue later...

6. Mental Trader-Part II

noreply@blogger.com (PipsRiver) — Tue, 21 Sep 2010 12:08:00 +0000

This is 3 more common behavorial mistake while trading forex.

4. FEAR-

During trading ,there is time when we loss continously and we just have

no idea how to do it and recover anymore.There is fear in our stomach,

even to enter new position.We are just fear thats we will lose again and

never make it until we lose everything.

Fight this FEAR to be in control of your trading.At first it seem very difficult,

Over the time ,the fear is just fade away.

What we need is practice and practice to face it and consolidate

yourself after losing by forget forex trading for a while.

Come back after you re fully re-charge.Fear is only parts of this game.

5. RESET-

Reset yourself after whether you are after winning or losing.

After winning, don't quickly jump into new post just to get some more to win.

The possibility is you will misjudged the market condition and turn into losing.

After losing streak, close the terminal and go away from the screen

and do some things else.

This will increase our trading morale and judgement ability.

If we push ourself to recover account quickly,this will lead to REVENGE.

Go RESET yourself first and relax!!!!

6. REVENGE-

Revenge is forex trader common enemy.

Usually happen after we lose some or big money.

We try to revenge the market and get our money back.

At the end we get 'margin call' and just lose everthing.Now,who is winning?

The market is..

Because we try to revenge the market,it will punish you just like that.

There is no regret in it ever.Just don't revenge this 'monster'.

That's all said for now.See later.

5. Mental Trader-Part I

noreply@blogger.com (PipsRiver) — Mon, 20 Sep 2010 12:58:00 +0000

Forex is challenging business due to its nature and the Ocean of wealth in it.
It has 3 trillion USD values.When we are embarking into this business,the most
vital things to do is to prepared ourself mentally to be succesful trader.
More important than the system and any technical analysis itself.
Here is how to manage ourself during any circumstances:

1.PATIENT-
          Just be patient to wait for best signal before entering trade.
          If there is no clear signal and no ideas where to put stoploss
          and take profit,don't do it.If you just jump in and gamble unnecessarily,
          the market will punish you.Just,wait and wait until you have the signal
          with an edge to get profit.

2.DISCIPLINE-
         Discipline to hold winning position and to left the market by itself
         if we already miss the move.Don't be thrill seeker and jump in too late
         just to see it reverse direction after that.Please don't miss your
        stoploss every time and think of it before enter position.

3.GREEDY-
        Don't be greedy and try to be rich as quickly as possible.
        Forex is business as usual and not 'get rich quick scheme'.
        If we try to make trillion out of small capital,
        this is impossible and this is GREEDY.
        When there is profit in our favour,please take it at some level before
        it left you empty handed.Remember, the market is always flow and we are
        here to tap it bit by bit.GREEDY people will be punish,because they are
        actually overtrade the account.

That are some of it.I'll share some more about this later.

4. Forex Market Dynamic

noreply@blogger.com (PipsRiver) — Fri, 17 Sep 2010 08:30:00 +0000

Let me tell one things about this forex market nature.It just ebbs and flow wherever it's like.
Thrust up and down,big and small,sometimes almost no move and sometimes suddenly explosive just like time bomb.This is just it own nature and behaviour.Nothing we can control about this "monster".It is govern by traders mass action and reaction around the globe.
Just like nature of the human feeling like you and me,up and down,do and don,t.

When we observe it carefully,the forex market is just flow like river as metaphors.
Carry with it thousands of pips along the way.
The only different to river is,it can also flow upstream beside going downstream.

Just like river,when the water hit the rock,it will deviates before continuing again.
In forex,it will hit major support/resistance and retrive.
Then,push to continiue again in same direction.

Likewise,there is time when the market is stagnant and almost no move,
it just going side ways.
The market will move in a small range.What we would to do is either be patient and wait or
trade the range with some risk in it.Just be careful with this stagnant condition.

Like water at upside of a dam,the longer its accumulate,the bigger pressure is.
Come one time when some incoming flood put enough pressure to
trigger the floodgates open.
It just flow like waterfall.It is thunderous and explosive and nothing can't stop it.

If something like this happen in the market,the wise thing to do is to wait just below the floodgates.When it open,you'll flow with it.But,don't be too greedy,when it is still in your favour,take someportion and let's it flow.It can change polarity and reverse,

left you with empty handed.

What we see here is the forex 'market dynamic'.It has fluidity in nature.
It just flow fast and slow,stop,ripple,waving and change direction.

Somebody ever wondering why I just write something like this.Because, different people have
different interpretation to understand this market code.Our job is to understand and decode
it, so that we can tap some of the money out of this 3 trillion dollar business for ourself.

3.Get Rich Quick vs Get Rich Slow.

noreply@blogger.com (PipsRiver) — Fri, 17 Sep 2010 03:33:00 +0000

Long time ago, when I just found this forex world, it is no secret that
the only thought of it is to get rich as quick as possible from trading
forex.When I first found it. I just feeling as excited and said"Eureka!".
Finally,I just found new things online that can make me rich and make decent money.
Yeah..after this I can quick my day jobs and 8:00-5:45 rat race.
Say goodbye to my boss with smiley face.
I will have financial freedom and do whatever I like.

After sometimes,I found it how difficult to make consistent profit.
Day in,day out just to see my small little account blown away and
my margin depleted quickly.Then, I will try my luck with another broker after
broker,the same things is happen.

After that,my inner strength keep saying" please don't give up and keep
trying".I try many different strategies that many people over the forum
is said working and also trying thousand of free indicator.I just jump from
book to book,strategy to strategy,indicator to indicator if ones is seem
not working.I also try many combination of them in order to find my own
perfect "holy grill" system so that I can get rich quickly.Even,I try to find
many forex "guru" that claims to have proven method which produced millions.
Everythings just work against me.

One day,after a few years I just realised that ,it is not so easy to
'get rich quick' in this arena.It's not the system that went wrong.
It is the psycology and emotion inside me during trading that determine success.
'Mental trader' is far more important in this forex career rather than
skill and system itself.If I can control my emotion during any session,
I'm one step further to be succesfull.

After all,at first I enter this forex arena in order to "Get Rich Quick".
Lately I found out that it just to "Get Rich Slow".
Now my target has be changed.I want to stay as long as possible trading forex.
Even if it's mean to get rich "slowly-slowly".

2.Marketiva-My first boat..

noreply@blogger.com (PipsRiver) — Sun, 05 Sep 2010 08:51:00 +0000

Marketiva is my first platform to this forex world.
I think many of us is also share the same experience.
It has this dealing platform called Streamster.
Marketiva platform is simple and user friendly.
Newbie like me love it at that time.

Beside that, it has this discussion forum where all trader around the
world chit-chating..exchanging strategy,knowledge and idea on trading.
Although nowadays I just occassionally open it...
I owe some trading experience from this Marketiva platform.
And also meet many traders there(newcomers and oldtimer).

And of course one day I must recover some of my money lost there...hehehe:).
Need to get there to know more detail for anybody try to embark into this
forex world.Marketiva is a good starting platform.
Bye then..See ya.On the other side of river..

1. Starting point.

noreply@blogger.com (PipsRiver) — Sat, 04 Sep 2010 15:47:00 +0000

My forex trading journey starts about 3 years ago(in March 2007 i remember).

At that time,i am searching for the new things online in the aftermath of
HYIP that was banned by the goverment.May be some of you still remember

of the good old days and also the bad old days.When our online life is

poured by those"get-rich quick scheme".Ouch....10-20% a day out of your

small investment really made us really rich quickly.Remember those fical.net

Swissfund,...etc..etc(cannot remember the name anymore).One fateful day....

Bangggggg!!!!...everything just gone....lost all the investment...huh!!!

Those ponzis scheme just being banned by the goverment...and all the "tauke"

are all disappeared.Some are lost small...some are lost even hundred of thousand bucks.

Hey...remember and always remember,there is nothing such an easy ways...nothing!

So,if you come across something so easy to make money online...PLEASE think twice..

Let learn from our past..

But..but..but,there is relatively easy ways to make money online incompare to outside.

And we will go through the journey later.

Ok that enough for my first entry.Continue later...