Hehesam (Malaysian) trading journal
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Thread: Hehesam (Malaysian) trading journal

  1. #1
    I'm a student from Malaysia and grad soon, going to seek any job opportunity from Foreign Exchange market after graduate. 1st deposit is $180, lets see what I could do to use this money. BTW, welcome for open discussion about Foreign Exchange, especially traders from Malaysia. (sorry for my crappy english. )

    After follow J16 thread for long enough period, I will implement it and determine whether the egy plan suitable my trading style or not. Begin this thread to reassess my weakness in trading and my mistake in trading, hope u all like and won't feel boring at here. Thanks.

  2. #2
    1st trade of this week. usd/chf. BEOB tendency off ppz.
    1st half place open 1.0093 - sl 1.0150 tp 1.0070 or 1.0060
    2nd half place open 1.0089 - sl 1.0150 transfer to be after 1st half place's tp hit.
    Lets see how it performing.

  3. #3
    loss -18 and - 22 pips for both transaction.
    As you all can see, the price go to 1.0071 and didn't strikes my tp at this broker (however, the tp failed hit at other broker).
    Who to blame? Broker possibly, but as a conclusion, the price reach FTA (1.0070) although this is not consider a good trade. Btw, I shut the trade early because today is Friday, and the pub closed like a pin bar.
    Search for nice trade next week.


  4. #4
    Hi,

    Just a few words of advice that you may delete it in case you discover somewhat embarrassing.

    First, I would like to remind you that by implementing different people's egy isn't a fantastic start. Why? J16, whoever that is, may say he is profitable using his very own egy, but him and you are different, so two plogically different men and women. He might enter at x price and exit at y price whilst you enter at price x -1 pips and exit at price y -2 pips. In this case, you have -3 pips drawback. Understand?

    Secondly, If some other traders in this forum or in any other forum mention they have a top%, state 90% win rate egy, better yet if they state that a holy grail egy, then it should be a red flag, since it's misleading. A 90% win rate can have a negative anticipation. Percent win means nothing. What they won't tell you is the other 10% eliminate rate. That said, you want to develop your own egy.

    Third, certainly Don't trade with money you cannot risk. Capital preservation is a must. The single thing should be in your head before entering a trade is how far you are likely to lose. If you are simply considering winning, I can guarantee you, you will make up the 9 from 10 traders that neglect.

    Fourth, Get a full time occupation. If you already have, don't stop, save your cash. You should only trade full time when you have sufficient reserve capital and can easily manage your daily needs.

    Fifth, Don't try to outsmart the market. Market does not care that you are, if you are a president of xyz business, a professional trader, a newbie or a student. And you can start off by learning how to respect. Respect the market and respect other traders. And by doing this, leave your ego out. One of the primary things that separates the 9 traders that neglect along with the 1 that triumph is their self.

    Hopefully this helps. Good luck.

  5. #5
    All the best bro. . .really jealous of you bcoz u got to understand Currency Market at a young age. . .is there anymore upgrade bro?

    P/s: btw, where you at ya? If nearby enuf, can go for TT session lor...

  6. #6
    Quote Originally Posted by ;
    hi,

    Only a few words of advice that you may delete it if you discover somewhat uncomfortable.

    First, I would like to remind you that by implementing different people's egy is not a fantastic start. Why? J16, whoever that is, may say that he is profitable using his very own egy, but you and him are distinct, therefore two plogically distinct people. He may input x price and exit at y price whilst you enter at price x -1 pips and exit at price y -2 pips. In cases like this, you already have -3 pips disadvantage. Understand?

    Second, If some other traders...
    I fully agree with prodigy. No traders can apply same egies because of difference in trading fashion and plogy. I think that the best is to keep it easy. Learn all the basic indiors (even though you don't have to utilize some) follow the trends and breakouts and enter sensibly and also you need to have enough capitals to stop margin calls. Calculate the risk of getting margin calls against yr equity, for example in the event that you deposited USD1000 and you enter a position at USD0.50/pip, yr risk of having a margin call for 1 open position is 1900 pips, so long as you don't enter stop missing.
    Currently for Eur/USD typical high-low difference is roughly 1000 pips/month whereas Aud/Usd is roughly 500 pips/month. There's a fairly save distance from yr allowable 1900 pips.

    And also remember that each pair which has Usd pair will not wander too much on the adverse from the typical level because other countries will not let the dollars to drop too much because it will have severe consequences to their economy.

  7. #7

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