A Surf Riders Journal
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Thread: A Surf Riders Journal

  1. #1
    Welcome to my Journal. This is my start to document my trading style, thoughts ideas plus the most essential section, my emotions.

    To introduce myself, I am not a newbie nor a professional. I have a near of 2 years of trading experience in Forex. I am also a member of the personal group of Jacko. I've blown an account to 40% so I've had my hard times as a trader. As time has past, I've learned a lot from both market and other traders. Sometimes when I look at ago I nod into what I did before!!

    Now, I am planing to document my experience to assist others develop. I'd be glad for others to join.

    Enjoy your stay,
    Greatest Speeches,
    Khanderoo

  2. #2
    Trend lines: Is a leading indior of market impressions. It's made as the market moves. The higher the timeframe the more energy it has. It requires a lot of energy money to break a weekly trend line. The ability of trend lines can be realized by market movement monitoring BUT you should always consider that nothing is 100%. There is a fact that market doesn#8217;t enjoy S/R levels and it'll examine it and escape it SO when you see market is hanging around an S/R level you should warn your self the likelihood of it being broken is increasing. Fibonacci retracements extensions: Market movements are a reflection of trader#8217;s position in the market as total. A high percentage of BIG Real traders utilize high timeframe Fibonacci retracements for inputting positions and its extensions to take profit. Thus we can also bark with the BIG DOGS!! AMM-S Risk Management technique: This is a egy I've learnt from Mr. Hani in his really valuable thread called #8220;Anti Big Dog Trades#8221;. You can refer there for a comprehensive description. Simply speaking, it closes a percentage of position in profit to secure the rest of it while it will gives you the opportunity to enter new trades for free!! A must read. AMM-S is utilized where S/R place levels have more opportunities to hold for a longer period with multiple retest and also a 20 pips penetration place. Its intention is to build gradually incremental opened positions while securing them to have great rankings targeting hundred of pips. Beautiful Round Numbers: Since the legend Jacko says, The experts have ta be stating that the large game in the business is to currently mill and push the market to 1.6000. After they do not care, they've had their pleasure. . .and that#8217;therefore a market will whip and drop/rise dramatically straight after the target has been hit Emotion controlling methods: This is actually the main reason I wanted to begin this thread. I've found this to control my feelings, I should write them down, then I should find a means to control them and finally repeat to myself when I fulfill that emotion . These steps will help me control my feelings in the long term writing them down into a public forum will help others how to manage these OR maybe they'll give me better solutions since Mr. Hani says: #8220;Learn, Share Grow#8221;.

  3. #3
    My Ideas for the week:

    Fundamentals:We have observed the very first Daily trend line Supporter to be failed by a two years low German Ifo Business Climate Index. That is clearly signaling that the German exporters are having a hard time with costly euro. Some Pro's are saying that this wave down is obviously by ECB looking to get a more Exporter-Friendly euro exchange rate. BUT, on the other hand, we nevertheless have an extremely weak USD that this will NOT change before the governors alter how they act... This may be possible by the new president in US. As an example of USD the inflation pressure (food energy prices) is so high cutting interest rates should be done with high cautions urgent needs SO ECB can't cut rates FED can also be sensing that its enough. Technicals:The E/$ Long-term up trend is not over at all. There might be a possible correction like what it had been in 2005 BUT that also wants a lot of fundamentals news to help it a lot of energy to control it. This can be clearly shown in the monthly view of E/$ attached. In the way down to E/$, there is a daily fashion line left and the next trend line meeting the beautiful round number @ 1.5000 SO which ought to be solid support if met. My Plans:
    According to my principles I will enter at a dip in the second trend line together with the tiny ellipse revealing it @ 1.5550. NOTE: As of today it is already broken. If that did not hold I'll be using short-term profits from Fibonacci levels rebounding additionally shown attached. I'll look to enter again at the next trend line near .382 long-term Fibonacci @ 1.5000 shown with the bigger ellipse. As always I'd use AMM-S at fashion lines just profit shooting Fibonacci's. Any thoughts are appreciated,
    Regards,


  4. #4
    I just came across a beautiful article from some one called DC Bonta. It's very great to let everyone know about it:



    ------------------------------------------------


    Dear...,
    Recall that old story of the Emperor and his”New Clothes”? . . .There he was, the great -- the mighty ruler of the property, strutting around like a peacock because of his marvelous, magical new clothes that no one else had (like himself). The man was totally buck-naked... and everyone knew it.
    I believe even he must have known it, but his pride and arrogance kept him from seeing what was obvious to everyone else.
    Folks from the Forex world get similar to that Emperor occasionally. They take time, money and energy to study up on the very best and cleverest egies. They generally begin with the basic fundamentals that are critical to profitable trading and large returns. Some even put the basic stuff to practice and win.
    But then, along comes a slick talkin'”guru” (and I use that word lightly here... I should state shiny talkin' salesman) using a complete bag of fancy new suggestions... and the older standard fundamentals get thrown from the window.
    The result? A whole lot of really”smart” FX traders running around in their own trendy”new” egies... but everyone can see that they forgot to put on their fundamentals daily.
    Yup, sad to say, but 95 percent of all of the people trading Forex out you will find financially nude and losing money fast.

    It is Time to Put On Some Real Clothes
    So, I call this secret, the non-secret, because it's actually only a basic fundamental of trading. You have heard it only about as many times as you have slipped into a pair of pants in the daytime. It is old hat and school.
    But it functions.
    The non-secret covers your buttocks and protects your assets. It creates profits and strong returns time after time. It helps you get a good foundation of consistent, routine, predictable, more profitable transactions, day in and day out. It is like putting on a well-worn pair of jeans... sure they are old, but they are comfortable and they cover up you.
    Here's the kicker... I am prepared to bet that 9 out of 10 traders out there don't utilize this basic fundamental”secret” if they're laying out their egies and establishing their transactions. Maybe they don't understand it, and that's why they don't utilize it. I really don't know... I only know they don't utilize it.
    But they need to, because the stuff they are flashing instead is kinda embarrassing.
    Okay, enough of that! Here's the non-secret secret...

    Trade With The Trends.
    I know... lame, dull, old college. But again, it's made me a package of dough.
    Trading with the trends is an essential fundamental that you need to comprehend. I'm going to presume that you're among the more clever traders out there rather than insult you with a long, drawn out explanation of the principle. You probably have heard it before.
    What I'll do is just make it a bit more special to Forex trading so that you get the entire picture of how to apply it here.
    You need to discover the current tendency to get a longer time frame like the daily chart -- or even longer. At times, you have to return several months to get smooth data.
    By way of example, price may appear to be in an uptrend for a specific month -- but is your pair in a current uptrend or is that a retracement of a downtrend currently in progress? The only way to know for certain is to go back a couple of months and have a look.
    In..., I explained that if it's in a downtrend, then draw Fibonacci amounts from the top to the current low and see where the market may retrace. Has it already retraced to all those vital amounts?
    Also, you can draw on the monthly pivot points on the daily chart to see where support and resistance is. Do these amounts overlap with any vital Fibonacci levels?
    Now, do the same on your shorter time frame charts like the 60 minute, 30 minute, 15 minute, 5 min or whatever you use for intra-day trading. As soon as you clearly see the fashion, you are able to play with the bounces at these key support and resistance levels from the direction of the general trend.
    Therefore, if it's in a downtrend, then FORGET about searching at any long positions. Simply search for amounts where price will hit resistance and brief at those amounts.

    A New Closet Full Of Real Clothes... and Huge Profits
    following is a promise: If you nail this down basic fundamental of the Forex market... and always use it...your trading will improve dramatically!
    Remember, the fancy”new” ideas, egies and concepts are not necessarily bad -- a few of these should have their loion in your toolbox. But they should never, ever blind you to the significance of always using the fundamentals.


    Here's To Your FX Trading Success,
    DC Bonta



    -------------------------------------------
    I'm really amazed about what are stated above. I suggest we only consider it. Believe Think more, We'll Find a lot of hints...



    Regards,

  5. #5
    Hi Khanderoo

    Just came across your journal. Good luck with it! I will be following your journey carefully.

    Happy trading !

  6. #6
    Quote Originally Posted by ;
    Hi Khanderoo

    Just came across your Diary. Fantastic luck with it! I will be following your trip carefully.

    Happy trading !

    Bakuli
    Hi Bakuli,
    Nice to have you in the thread. Please don't hesitate to describe your comments about it. And kindly accept my apologize for being late in my response. In the previous four times I have been reading Trader888 posts. You might find it here (Just search for his articles responses.) . It was very intriguing. I've made his thoughts documented attached. I've been thinking about it a lot. I believe that this is a must read for any trader.

    I'd be glad to have your thoughts about it too.

    Best Regards,
    https://forexintuitive.com/attachmen...1251277303.doc

  7. #7
    Progr Added:
    I have opted to add EMA(50-Close) only at H4 time frame as a Buy/Sell Zone identifier.

    Market Update:
    there are a number of good encouraging news coming from US BUT as can be viewed at H4 Time frame it has rejected by traders. Why? I think since they are trying to concentrate on interest rates in euro zone. But bears have been powerful enough to safeguard 1.5600 SO it is all about Mr. Trichet to show the path. BUT we should also notice that the primary BEAR players from top are FED ECB SO be cautious. So long as it doesn't get confirmed we shouldn't take long positions. Aggressive traders may take brief ones (only @ resistances BUT with smaller T/P's) since clearly we are in SELL Zone.

    Take Care,

  8. #8
    Going Long; After the bearish trend line is broken (confirmed from candle closing above it) higher than EMA (In our buying zone). After opening the position, I will be watching to get a false split out overly SO that I could close it on break even or near it.

    Going Short; After a few down movement and onto its bounce in the bearish trend line, lesser than the EMA. I will also be looking here for NOT to be CUT by a tacky trend line (trend line getting busted ) SO that I could close it on break even or near it.

    I do not enjoy going short on weekly bounce because it is too near the 38.2% service the fashion line is going to have sticky look!

    Attached you might find what I mean on past experiences.

    Greatest Luck to all,



  9. #9
    Trading Pair: Just E/$. Trading Tools: Trend traces (H4, Daily Weekly T.F.), Fibonacci retracements extensions (Daily and Weekly T.F.), AMM-S risk management technique, Beautiful round numbers (e.g. 1.6000), Emotion Controlling techniques Time Frame: H4, Daily, Weekly How to ascertain the tendency: It should be a clear and visual”Higher highs, Greater lows” OR”Lower highs, Reduced lows”. When to enter: At the trend lines signature. The exceptions: After important news release with counter tendency direction at holidays (Christmas time, vaions at US/Europe...) At Fibonacci retracements first signature for fast profits (20~50 pips). When to depart: Each successful exit includes two measures; Securing the position using AMM-S. Taking profit at beautiful round numbers/Getting out at broken tendency line/Hitting that a 100 pip TSL. An ineffective exit would be to hit S/L directly.

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