Revisit - Advice by Mr Vegas

Nasihat 1: Ini kata2 Mr Tunnel (VEGAS) untuk pedoman diri Sendiri..

" I am going to give you the only bit of professional trader advice. One (1), Investigate a method that you believe makes money over time and stick with it. Two (2), Try to understand the theoretical underpinnings of the model. Three (3), Trade small until totally convinced method works. Four (4), Your success [profits] comes from implementing the method correctly, not guessing where the market is headed.Five (5), Read number 4 again. Six (6), Give up thinking during market hours. Thinking comes when the machines are turned off, not in the heat of battle"

Nasihat 2: Belajar focus...

You only need to master one setup to be a consistently profitable trader. Screen time will allow you to master one setup; after you have mastered one setup "own it” you can add another setup. This can be an ongoing process developing your own style.

The best setup to begin with is the one that you see and understand easiest. If you are forcing yourself to learn a setup because you believe another person is successful using it you may be taking the longer route to profitability. We are all different. Our brains and personalities will gravitate to different setups.

This is also true of exit techniques. Most traders I hear from lengthen their road to profitability by trying to apply too many concepts before owning the first one. They have studied a myriad of techniques but have yet to master any. This allows them to talk about trading but unable to consistently trade profitably.

The first decision to make is; do you desire to be a counter trend trader? or a with the trend trader? Eventually, you can be both. At the beginning, or a new beginning perhaps, you will do best choosing to master a setup and follow the trend. If you have been at this game for awhile and are not yet consistently profitable you know what I am saying is correct.

Secret Method

Apakah secret method untuk berjaya dalam trading.. Bergantung pada 'cara' kita berfikir... adakah menggunakan indicator yang canggih akan menjamin pendapatan yang konsisten... adakah secret method akan menjamin pendapat yang konsisten... 

Price bergerak apabila 'buyers' more than 'sellers' or 'sellers' more than 'buyers'. Jika buyers dan sellers seimbang, maka price akan 'hold'. Jika 'method' yang digunakan adalah 'rahsia'.. logiknya little people know about the method.. so mampukah 'buyers' melebihi 'sellers' atau 'sellers' melebihi 'buyers'... Na mungkin kecuali 'seller' atau 'buyer' itu dari institutions etc. Na mungkin daripada 'individu' yang mempunyai 'secret method'. Adakah institution mendedahkan 'method' mereka kepada 'individu' macam kita. Adakah seseorang 'individu; yang mempunyai 'method' rahsia dapat mengawal 'price'... Na mungkin... So kita harus percaya sekiranya sesorang individu itu mempromosi 'secret method' di internet. 

Untuk berjaya 'kita' mesti naik kapal searah dengan majoriti... Jika majoriti adalah sellers; maka kemungkinan price akan turun dan sebaliknya. Jika kita berada 'didalam' kapal yang salah... maka kena belajar untuk selamatkan diri sebelum kapal itu hanyut dengan lebih jauh.

SERT - Setup; Exit; Risk Management & Trade Management adalah formula yang patut diketahui oleh semua trader. Untuk berjaya; perlu fokus pada SERT dan bukannya kepada Entry shj atau exit shj... malah ia bergantung pada SERT.

Chart Update

Daily Trend - Retracement Over; Swing High Support for Bear









4Hr - Price try to Breaks Ascending Wedge; I expect price may bounce up to 1365X to 137XX.. Then i can add another SHORT position

Chart Update

Price Now Testing Recent LH - Short Term Sentiment Change if price breaks this level










Im watching next important resistance level... Bear bias...











Lots fight from Bull Recently..











Short Term Sentiment already change; However long Term Bear still intact..

At the moment if the price is within FRIDAY MASTER CANDLE... Waiting for direction.

Chart Update... Need to wait for confirmation

1. Daily - Belum confirmed price akan RETRACE based on closed candle on FRIDAY.

2. 4Hr - Belum confirmed price akan RETRACE based on closed candle on FRIDAY.

3. 4Hr; price make a double LOW... so price most likely will bounce and may test NECKLINE...

4. If price breaks NECKLINE in 4Hr & Daily Candle make a NEW HIGH - This suggest price will make bigger retracement..

5. My strategy: RIDE THE BEAR TREND TILL IT ENDS & SELL ON RALLIES...

6. Will update chart if (1) & (2) confirmed.

Update 4Hr Chart

Weekly SUPPORT untuk price buat NEW LOW...

SELL ON RALLY...

My Mind At The Moment

Daily - Possible confirmation of Bear May Continue...

4Hr - Waiting for Confirmation

Bear Masih Berkuasa

TRADE UNTIL BEAR TREND ENDs..

Ascending Triangle...

DownTrend end with Ascending Triangles - Need to see clear breakouts... Favor Down

Chart Update..

Let's the market decide.... Free Ride Strategy On Board

My Strategy On Monday

4Hr Trend Down... Price below DownTrend Channel
Retrace Mode In Progress
Enter on Rallies & Watch for IBs or Long Wick Candle Reject The Line

Price Trend.. GJ Quick Update...

Weekly TF Update...











Daily TF Update...

Monthly Chart... New Bar will start Next Week.. HgL will formed if price failed to make a new high...

Most of Red News till Friday are USD Negative...

This may support Bear for GJ unless there are surprise news especially Jobless Claim tomorrow..

by Owner of Caripips Blog...
Pls Note: No more update till next monday; i will be busy in Malacca for Workshop...

SBR RBS Lines...

Plan Ur Trade & Trade Ur Plan

Idea by Scrat (ForexFactory)

Main Plan: Always accept the loss at your emotional tolerance level.

Strategy: Always adjust and reduce dollar per pips to a level that you feel comfortable with, when you lose.

Standard Risk Management:

1. Identify the Risk (Losing) of level.
2. Learn to forget about how much you will win.
3. Instead, we only focus on the level we willing to accept the lose

Classical Scenario.

You see and recognize the potential trade on GJ Pair, so you want to make a trade, but before we open the trade,

Step One - Identify the risk

1. Where does my stop loss go?
2. How much i will lose?
3. If the trade goes against me? Do i ACCEPT the Risk of Losing?

If YES, proceed to next step.
If NO - Adjust the dollar per pips until you ACCEPT the RISK or DO NOT TAKE THE TRADE.

This is critical and very important, you have very honest with yourself here. You must be able to say to yourself, THIS IS THE RISK I AM PREPARED TO TAKE ON THIS TRADE AND I WILL UNCONDITIONALLY ACCEPT THAT IT MAY BE A 100% LOSS.

If you cannot do this then YOU DO NOT TRADE.

Step Two - After we ACCEPT THE STEP ONE

Where do i take profits? For example, we may put on 2 contract and take profits on first contract at in increments of 100 pips. We may trail the second contract until wee see significant GJ reversal bar.

THIS IS OUR PLAN... Now, we want to focus on TRADE UR PLAN.

Step Three

1. Do i believe in my plan?
2. Do i have 100% absolute faith in my plan?

If the answer to this is NO - Make a NEW PLAN.
Do not TRADE until you UNCONDITIONALLY ACCEPT YOUR PLAN.

Step Four

Trade Management - If you are trading the DAILY TF, so no need to check your charts UNTIL AT THE START OF NEW CANDLE.

If you have been HONEST with yourself and ACCEPTED YOUR PLAN then there is NOTHING TO DO until

1. You will either be stopped out FOR LOSS which you have already ACCEPTED and are no longer concern for you, or
2. You get PROFITS

There are NOTHING ELSE FOR YOU TO DO

You must learn to BELIEVE I YOUR PLAN, so always PLAN THE TRADE & TRADE THE PLAN.