I missed the recent rally of CPO Futures (March 2013 Contract) due to my consecutive big loss of the last two trade which affected my judgement.
I feel more miserable of not following my trading system which caused missing the boat than losing a trading. This is the stage I am in right now; "If I were to go in in the middle of noway, I might be late but what if the surge continue." This thinking has been bugging me since 21 Dec 2012 when I lost and missed the long opportunity.
Trading is never easy
Showing posts with label learning centre. Show all posts
Showing posts with label learning centre. Show all posts
Thursday, December 27, 2012
Wednesday, February 8, 2012
Hard Broken To See Profit Run Away!
Man! CPO opened with a gap at 3110 and continued the surge to the high of 3153. I did not take any position on Friday thinking that long weekend with two long holidays ahead. But the market just does what it wants.
My usual method will be entering the long in the morning on opening bell, but I was afraid and 'hoping' that it would not go that high. I was miserably WRONG.
We Have To Trust Our Preset System; Lesson Of The Day
My usual method will be entering the long in the morning on opening bell, but I was afraid and 'hoping' that it would not go that high. I was miserably WRONG.
We Have To Trust Our Preset System; Lesson Of The Day
Monday, December 19, 2011
Thursday, December 15, 2011
What Do You Think Of Stop Loss Placement
Hi there,
Any one could suggest to me the best strategy for stop loss placement? Placing too near to the price, our position will be kicked out all the time. If we place it too far, the losses could be huge.
As we all know, placing stop loss is the most important strategy when trading to protect our investment.
Please feel free to suggest. Thanks
Any one could suggest to me the best strategy for stop loss placement? Placing too near to the price, our position will be kicked out all the time. If we place it too far, the losses could be huge.
As we all know, placing stop loss is the most important strategy when trading to protect our investment.
Please feel free to suggest. Thanks
Friday, June 3, 2011
Need Help. Any One Knows Minutes Chart Provider For ipad2?
Hi, I am looking for the service provider for FKLI and FCPO minutes candle stick chart; 15 minutes, 30 minutes, 1 hour and 2 hours etc that can be used for Apple ipad.
As we all know that most of the software providers are mainly in Windows environment like NextView and BursaStation. I have been searching high and low for this product but failed.
It is some kind of apps that can be installed to ipad.
Any one know, please advise.
Many Thanks
Abel
Sunday, April 17, 2011
AFRAID OF FAILURE
A great article from my guru Mr. Joe Ross ( www.tradingeducators.com ) I thought it is useful to all of us; fellow traders.
AFRAID OF FAILURE
Are you afraid to fail as a trader? Have you invested a great deal in your desire to trade? Do you have a wall full of books? Have you invested most of your money?
Do you feel that failure is not an option now, but are afraid you will? How do you deal with your fear of failure?
How we think and approach life affects how we approach trading. If we are extremely fearful, we won't be willing to take risks. The end result is that we may be afraid to put on a trade. Our expectations, whether conscious or unconscious, have a powerful influence on our trading performance.
As traders we face many common fears, such as the fear being wrong or of losing money. One of the greatest fears is that of missing a trade. Some of us are afraid we're leaving money on the table. All of these are different sides of the same box ─ the fear of failure.
So how do we handle the fear of failure? We have to recognize the basic assumptions that underlie the fear and counteract them.
Generally, rather than coming face to face with our fears, we avoid dealing with them. We may even deny their existence. However, it can be useful to simply identify our erroneous underlying assumptions and change them. When we change our assumptions, we're really changing ourselves.
We need to know what causes the fear of failure. Some of us feel that we must be thoroughly competent, adequate, and achieving. But the truth is we don't have to be that way. Holding such a belief produces fear and anxiety. And if you are a trader, that fear and anxiety can produce hesitation and self-doubt.
Traders who believe they must be competent spend their time worrying about what they did wrong, what may go wrong, and how they will recover should they fail. They are, in effect, distracted by their own thoughts and have programmed themselves for failure.
We can't afford to allow the fear of failure to interfere with our trading success. We don't have to be perfect. Any professional trader will tell you that you're going to make mistakes from time to time. If you're totally immersed in avoiding them, you'll be so anxious and fearful that you'll make even more mistakes. Tell yourself that it's not practical to believe that you must be thoroughly competent. You don't have to be the greatest achiever. Realize that as a trader, you can't live up to a standard of perfection.
If we strive to be perfect, it may actually lead us to the very failure we are trying to avoid.
AFRAID OF FAILURE
Are you afraid to fail as a trader? Have you invested a great deal in your desire to trade? Do you have a wall full of books? Have you invested most of your money?
Do you feel that failure is not an option now, but are afraid you will? How do you deal with your fear of failure?
How we think and approach life affects how we approach trading. If we are extremely fearful, we won't be willing to take risks. The end result is that we may be afraid to put on a trade. Our expectations, whether conscious or unconscious, have a powerful influence on our trading performance.
As traders we face many common fears, such as the fear being wrong or of losing money. One of the greatest fears is that of missing a trade. Some of us are afraid we're leaving money on the table. All of these are different sides of the same box ─ the fear of failure.
So how do we handle the fear of failure? We have to recognize the basic assumptions that underlie the fear and counteract them.
Generally, rather than coming face to face with our fears, we avoid dealing with them. We may even deny their existence. However, it can be useful to simply identify our erroneous underlying assumptions and change them. When we change our assumptions, we're really changing ourselves.
We need to know what causes the fear of failure. Some of us feel that we must be thoroughly competent, adequate, and achieving. But the truth is we don't have to be that way. Holding such a belief produces fear and anxiety. And if you are a trader, that fear and anxiety can produce hesitation and self-doubt.
Traders who believe they must be competent spend their time worrying about what they did wrong, what may go wrong, and how they will recover should they fail. They are, in effect, distracted by their own thoughts and have programmed themselves for failure.
We can't afford to allow the fear of failure to interfere with our trading success. We don't have to be perfect. Any professional trader will tell you that you're going to make mistakes from time to time. If you're totally immersed in avoiding them, you'll be so anxious and fearful that you'll make even more mistakes. Tell yourself that it's not practical to believe that you must be thoroughly competent. You don't have to be the greatest achiever. Realize that as a trader, you can't live up to a standard of perfection.
If we strive to be perfect, it may actually lead us to the very failure we are trying to avoid.
Monday, December 27, 2010
Site Seeing: Another Candle Sticks Learning Site
I came across another site that explains candle sticks pattern well. The simple 10 candle stick patterns explain it all.
Do check it out:
http://www.candlestickgenius.com/top-10-candlestick-patterns.html
Do check it out:
http://www.candlestickgenius.com/top-10-candlestick-patterns.html
Monday, November 29, 2010
10 Points Profit Target For FKLI
I did lots and lots of back testing over the weekend and I found out that setting a 10 points profit for each trade seems to be a good way.
I initially did not believe it thinking that I should let the profit run. Out of so many trades for the period of 6 months (based on FKLI 2 hourly chart), 20 points and above gains only occur few times; 4 times actual. We are dealing with probability. If the market has a higher chance to hit 10 points rather than 20 points, why must I try to achieve 20 points and at the end, I got even lesser because the market turn around.
At the time of writing this article, the market continue the plunge for another 13.5 points to 1471. I could have exited at 1475.5 with a pretty profit of 10 points and that's it. Sounds Good right?
I initially did not believe it thinking that I should let the profit run. Out of so many trades for the period of 6 months (based on FKLI 2 hourly chart), 20 points and above gains only occur few times; 4 times actual. We are dealing with probability. If the market has a higher chance to hit 10 points rather than 20 points, why must I try to achieve 20 points and at the end, I got even lesser because the market turn around.
At the time of writing this article, the market continue the plunge for another 13.5 points to 1471. I could have exited at 1475.5 with a pretty profit of 10 points and that's it. Sounds Good right?
Saturday, March 20, 2010
OUR OWN WORST ENEMY
(A very helpful trading article from Mr.Joe Ross. He is a well known trading guru who changed my trading life. www.tradingeducators.com)
OUR OWN WORST ENEMY
As traders, we are often our own worst enemies. Although some people have an unconscious desire to fail, most of us want to succeed. Despite a strong desire for achievement, however, we often underestimate the difficulty of trading. We think it is easier to make profitable trades than it actually is, and we end up making unnecessary trading errors and thwarting our own efforts. But there's a simple solution. You can become aware of how you sabotage your efforts and make sure that you don't fall prey to these common ways of interfering with your own success.
First, try to hold realistic expectations. Many novice traders set expectations that are just too high. They set themselves up for failure by trying to trade beyond their skill level or expecting outcomes that are virtually impossible to achieve. When you push yourself beyond your comfort zone, or beyond your skill level, you tend to become so stressed that you feel anxious, ill at ease, and frustrated. You then start making trading errors that hamper even the best-laid plans.
Second, don't try to be superhuman. Indeed, you are merely human. The human mind and body has limited energy. Trading is physically, intellectually, and emotionally demanding. You wouldn't enter a triathlon without proper mental and physical preparation, so why trade when you are not physically and mentally prepared? You must be rested, relaxed, and ready for action. If you don't get enough sleep, for example, it will be difficult for you to control your emotions and to concentrate. Make sure that you get plenty of sleep, good nutrition, and exercise. In addition, don't overwork. It will eventually catch up with you. By pacing yourself as if you were running a marathon, you can meet the physical and mental challenges of trading.
Third, don't think you are bigger than the markets. Don't fool yourself into thinking that you have complete control of your destiny. Indeed, you are a slave to fate just like everyone else. Work around it. Don't try to control it. You don't need to be in complete control. You can manage risk to cope with uncertainty. If you know that relatively little is on the line, you'll trade more calmly and be ready to accept what the markets have to offer at any particular time. Just as you wouldn't try to fight nature, you must see what the "weather" is like out there and conform to market conditions. Be humble and accept what you can get. You're not as omnipotent as you wish you were.
Finally, don't trade by the seat of your pants.
OUR OWN WORST ENEMY
As traders, we are often our own worst enemies. Although some people have an unconscious desire to fail, most of us want to succeed. Despite a strong desire for achievement, however, we often underestimate the difficulty of trading. We think it is easier to make profitable trades than it actually is, and we end up making unnecessary trading errors and thwarting our own efforts. But there's a simple solution. You can become aware of how you sabotage your efforts and make sure that you don't fall prey to these common ways of interfering with your own success.
First, try to hold realistic expectations. Many novice traders set expectations that are just too high. They set themselves up for failure by trying to trade beyond their skill level or expecting outcomes that are virtually impossible to achieve. When you push yourself beyond your comfort zone, or beyond your skill level, you tend to become so stressed that you feel anxious, ill at ease, and frustrated. You then start making trading errors that hamper even the best-laid plans.
Second, don't try to be superhuman. Indeed, you are merely human. The human mind and body has limited energy. Trading is physically, intellectually, and emotionally demanding. You wouldn't enter a triathlon without proper mental and physical preparation, so why trade when you are not physically and mentally prepared? You must be rested, relaxed, and ready for action. If you don't get enough sleep, for example, it will be difficult for you to control your emotions and to concentrate. Make sure that you get plenty of sleep, good nutrition, and exercise. In addition, don't overwork. It will eventually catch up with you. By pacing yourself as if you were running a marathon, you can meet the physical and mental challenges of trading.
Third, don't think you are bigger than the markets. Don't fool yourself into thinking that you have complete control of your destiny. Indeed, you are a slave to fate just like everyone else. Work around it. Don't try to control it. You don't need to be in complete control. You can manage risk to cope with uncertainty. If you know that relatively little is on the line, you'll trade more calmly and be ready to accept what the markets have to offer at any particular time. Just as you wouldn't try to fight nature, you must see what the "weather" is like out there and conform to market conditions. Be humble and accept what you can get. You're not as omnipotent as you wish you were.
Finally, don't trade by the seat of your pants.
Wednesday, March 17, 2010
Site Seeing: CandleSticks Learning Site
My friend introduced me a site which is all about candlesticks. If you believe in candlesticks pattern like me, this site could certainly help.
Check out: Candlestickforum.com
Check out: Candlestickforum.com
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