Sunday, 15 December 2013

November Wrap Up

Hello, I haven't updated my blog since the first of November as I felt that my blog is slowly turning into my trading journal and I'm not really use to that. I mean it can be a good thing and it can be a bad thing. For me personally, I feel that a blog entry can only be good when the updates that I write is something that I'm into. That way, the content feels genuine and that's actually the only time I feel like writing and sharing my thoughts here.

Like I mentioned in my last post, I just got back into trading last month and it feels really good and I really feel that I'm progressing each and every day. I have started to learn the market correctly and I'm starting to feel more and more confident by just looking and analysing the chart everyday. Currently, I'm working for my 20 wins on the A300 syllabus, my backtest data and also some forward test and observation for the new released SRDC3.

It would be really cool if I'm able to show some of you guys the techniques that we're learning in this Community. I recently saw some of these people from other trading groups who are showing some of their techniques like a preview in Facebook and out of curiosity, I kind of check out what they are up to offer and I really feel that there's no competition between what we're learning and what I think they are teaching.

Anyways, let's talk about the trades I took last month.

Trade Number 1 - This entry can be found in the previous post.

Trade Number 2 - I took a hit of -1420 pips. 

Trade Number 3 - I took a short and wala, 300pips.

Trade Number 4 - It's a end of the month trade, which I'm not really sure if I'm suppose during the end of the month but honestly speaking, I was really devastated from this trade because it hit me huge at my trading account as my account for that month is -63%.

However, while I was planning this blog post, I was actually staring at the chart for quite some time. I discovered something in which I never realised before and I think this is somewhat called the learning process of trading. After this entry, I find that it is really important to keep a trading journal, especially a one that is visible to the public as I need to be accountable to someone and being accountable to the public through this blog is really something for me.

If you haven't notice, I highlighted four points in the fourth image above. As we can see, it is actually a very strong resistance right at that point. That's one of the reason why that A300 activation ended up to be a fail trade.

The more I trade and the more I observe at the chart, I really feel that trading is not just about giving you the entries and you can start trading, it comes with a lot of patience, discipline and also a lot of passion and time you put into understanding more about the orchestration of the market in order to be able to profit consistently from the market.

I come to realize that the worst part among all is our emotion,s our emotions plays an important role in our daily life. Imagine you took a bad trade and you took a huge lost, it's devastating and it's gonna' affect our psychology, the same goes to a lot of stuffs in life. For instance, your first love; remember the time your first love broke you heart, so deep, so pain that you thought all the girls are the same? Until you found the one? Anyways, long story short, the point that I wanna' remind myself is that don't expect to become a millionaire from trading in just a few months, and don't expect to become so pro at trading just because I learnt some powerful technique. It takes time, determination, hard work and a lot of good positive attributes that I did not mention.

"The technique is only 10%, 90% of the success comes from our psychology" and I totally agree with that, one hundred percent.