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Sunny Coasting Along

  • #321
  • Jun 25, 2019 4:48am Jun 25, 2019 4:48am
Quoting aaven
{quote} Congrats Anthony...
Thank you Sir Aaven. Very very long way to go yet.

Baby steps but as they say in the classics, Left Foot then Right Foot.

Cheers Anthony
Empty your mind and let the market guide you
  • #322
  • Jun 25, 2019 6:23am Jun 25, 2019 6:23am
Live Trade No.2 GBP JPY - Tue, 25th June

Inserted Video


This one eventually got going but happy with Entry.
Empty your mind and let the market guide you
  • #323
  • Jun 25, 2019 11:42pm Jun 25, 2019 11:42pm
Hi Anthony! I figured out the topic a bit (50 pages so far) Look, please, did I correctly identify the zones?
Cheers Michael
Attached Image(s) (click to enlarge)
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  • #324
  • Jun 26, 2019 3:41am Jun 26, 2019 3:41am
Quoting mik2012
Hi Anthony! I figured out the topic a bit (50 pages so far) Look, please, did I correctly identify the zones? Cheers Michael {image} {image}
Hi Michael
I'm currently sitting in a stop over hotel in Melbourne on route to Tokyo.
So I'll be away from my charts for the next 3 weeks.
It looks like you've got some zones marked.
I prefer just to use my lines but I'm never going to tell anyone how they should see the market.
Remember I'm still very much a beginner at all of this.

Cheers Anthony
Empty your mind and let the market guide you
  • #325
  • Edited 2:21am Jun 28, 2019 2:00am | Edited 2:21am
Quoting SunnyCoast
{quote} Hi Michael I'm currently sitting in a stop over hotel in Melbourne on route to Tokyo. So I'll be away from my charts for the next 3 weeks. It looks like you've got some zones marked. I prefer just to use my lines but I'm never going to tell anyone how they should see the market. Remember I'm still very much a beginner at all of this. Cheers Anthony
Good day and good trip, Anthony! George closed the branch, unfortunately .. I wanted to share with you) I got it)
I am also a beginner, let's share the experience?
Cheers Michael
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ?????? ?????? 2019-06-28 ? 9.44.14.png Size: 137 KB
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Attached File(s)
File Type: ex4 ! NIH98 !TMA Centered Multi Bands Indi.ex4   45 KB | 315 downloads
  • #326
  • Jun 29, 2019 2:00am Jun 29, 2019 2:00am
Life can be quite amazing when you least expect it to be.

It has now been approximately 6 months since I started my forex learning journey and of course I've already been blessed to learn from some exceptional master traders.

One thing I've especially come to understand is that no matter who you learn from you just have to make that information your own through working on the charts and see something repeat so many times that you start to trust in that information on a very deep psychological level.

Well another serendipitous moment has come for me. Since coming to Japan last week for my annual holiday to visit family I've been blessed again by learning that completely unaware to me up until now one of my extended family members operates on quite a significant level on a wholesale currency dealing desk with a major Japanese bank.

The family is setting up a meeting tomorrow for me to have lunch and chat so rather excited about this just to learn as much as I can.

Cheers Anthony
Empty your mind and let the market guide you
  • #327
  • Jun 29, 2019 7:11am Jun 29, 2019 7:11am
Quoting SunnyCoast
Well another serendipitous moment has come for me. Since coming to Japan last week for my annual holiday to visit family I've been blessed again by learning that completely unaware to me up until now one of my extended family members operates on quite a significant level on a wholesale currency dealing desk with a major Japanese bank.

The family is setting up a meeting tomorrow for me to have lunch and chat so rather excited about this just to learn as much as I can.

Cheers Anthony
Good opportunity to talk about this single entity MM manipulation stop loss hunting subject.
  • #328
  • Jul 1, 2019 2:34am Jul 1, 2019 2:34am
Here were a few quick points to note down in my journal from yesterday's meeting with my cousin.

First up she thought it was quite "funny" (whole meeting was in Japanese so some words take on different meanings) that I was starting out trying to become a fulltime retail forex trader.

• Until I'm trading at least a five figure account and I'm consistently managing all aspects of risk and the account's monthly return is averaging equal to or slightly better than a major index the only thing I should be worrying about is how to achieve the above.

• It turns out that one of the safest places for me to be trading as a retail trader is the "overbought/oversold" zones as the dealing desks almost always have to trade in value areas mostly in the "middle" area as they fill/release massive orders.

• Their desk traders certainly specialize in one market and their risk is monitored very closely over 24 hour periods by humans and algorithms.

We sat down for a good hour talking about my strategy and to improve even more on my results up till now especially how to target a few more pips from each trade without getting greedy.

Cheers Anthony
Empty your mind and let the market guide you
  • #329
  • Jul 1, 2019 5:12am Jul 1, 2019 5:12am
Quoting SunnyCoast
• It turns out that one of the safest places for me to be trading as a retail trader is the "overbought/oversold" zones as the dealing desks almost always have to trade in value areas mostly in the "middle" area as they fill/release massive orders.
I learnt that years ago when the fx department CEO of a Singapore bank explained their operations. That got me to understand this concept of market valuation of the underlying asset, that has been my conceptual base which is the determination of assets fair value that the market trades around it under the watchful eye of the central bank who manages the rate as one of the main levers of the local economy.
  • #330
  • Jul 1, 2019 5:43am Jul 1, 2019 5:43am
Quoting skyway
{quote} I learnt that years ago when the fx department CEO of a Singapore bank explained their operations. That got me to understand this concept of market valuation of the underlying asset, that has been my conceptual base which is the determination of assets fair value that the market trades around it under the watchful eye of the central bank who manages the rate as one of the main levers of the local economy.
Exactly!! Imagine the level that the Bank of Japan operates on!!

It was fascinating for me to listen to this lady espouse how her desk functions.

I hope to keep learning from her in the future and she has set up a small chat room for me to gain an insight into how her team operates. Of course, it is READ ONLY for me but apparently this is how they on board graduates into their program.

Cheers Anthony
Empty your mind and let the market guide you
  • #331
  • Jul 1, 2019 10:05am Jul 1, 2019 10:05am
Quoting SunnyCoast
Here were a few quick points to note down in my journal from yesterday's meeting with my cousin. First up she thought it was quite "funny" (whole meeting was in Japanese so some words take on different meanings) that I was starting out trying to become a fulltime retail forex trader. • Until I'm trading at least a five figure account and I'm consistently managing all aspects of risk and the account's monthly return is averaging equal to or slightly better than a major index the only thing I should be worrying about is how to achieve the above. •...
hi Anthony,

always fascinating to chat with others and learn a few things.
keep asking questions, and how the answers tie into what you are doing.
of course it is also important to understand where the other party stands; in case of bankers, she has lots of luxury what you dont as a retail trader, the most important perhaps is a salary!! ( and make sure that fully sinks in! lol)

cheers
Zoltan
there is always, always another trade!!
  • #332
  • Jul 2, 2019 12:20am Jul 2, 2019 12:20am
Quoting profitfarmer
{quote} hi Anthony, always fascinating to chat with others and learn a few things. keep asking questions, and how the answers tie into what you are doing. of course it is also important to understand where the other party stands; in case of bankers, she has lots of luxury what you dont as a retail trader, the most important perhaps is a salary!! ( and make sure that fully sinks in! lol) cheers Zoltan
Very true!!
That's why one "cheeky" future question I will definitely be asking is, "How do I get funded in Japan?
Once I've got that slick track record down of course.
Empty your mind and let the market guide you
  • #333
  • Jul 2, 2019 5:38am Jul 2, 2019 5:38am
Quoting SunnyCoast
{quote} Very true!! That's why one "cheeky" future question I will definitely be asking is, "How do I get funded in Japan? Once I've got that slick track record down of course.
i think if you ask your relative about it, soon it will emerge that all you would really need in Japan is more than likely to be ranking high in your famous uni's class, and/or know the right person who recommend you into the program.
there is always, always another trade!!
  • #334
  • Jul 2, 2019 6:25am Jul 2, 2019 6:25am
Quoting profitfarmer
{quote} i think if you ask your relative about it, soon it will emerge that all you would really need in Japan is more than likely to be ranking high in your famous uni's class, and/or know the right person who recommend you into the program.
You sure do know what you are talking about.
She graduated from Todai!! Unfortunately I did not.

But we have a plan and I know how to get there.

Cheers.
Empty your mind and let the market guide you
  • #335
  • Jul 6, 2019 3:26am Jul 6, 2019 3:26am
Hi Anthony! Please tell me where to get the ADR indicator and what is its meaning?
Cheers Michael
  • #336
  • Jul 6, 2019 5:31am Jul 6, 2019 5:31am
Quoting mik2012
Hi Anthony! Please tell me where to get the ADR indicator and what is its meaning? Cheers Michael
Hi Michael.

I'm still travelling through Japan until mid July so I won't be able to attach the ADR indicator from my home computer.

It is just a simple Average Daily Range indicator that tells us how many pips a pair has been moving on a daily basis over N number of days.

Cheers Anthony
Empty your mind and let the market guide you
  • #337
  • Jul 6, 2019 9:23am Jul 6, 2019 9:23am
Quoting mik2012
Hi Anthony! Please tell me where to get the ADR indicator and what is its meaning? Cheers Michael
hi Michael,

perhaps this simple ADR indi could help you out until you find a better one.
cheers
Zoltan
Attached File(s)
File Type: ex4 ADR_v2.ex4   11 KB | 309 downloads
there is always, always another trade!!
  • #338
  • Jul 6, 2019 9:42am Jul 6, 2019 9:42am
Quoting profitfarmer
{quote} hi Michael, perhaps this simple ADR indi could help you out until you find a better one. cheers Zoltan {file}
Cheers Zoltan.

I really appreciate that.

Looking forward to trading again when I get back home.

Anthony
Empty your mind and let the market guide you
  • #339
  • Jul 6, 2019 12:51pm Jul 6, 2019 12:51pm
Quoting profitfarmer
{quote} hi Michael, perhaps this simple ADR indi could help you out until you find a better one. cheers Zoltan {file}
Zoltan....Thank you!
  • #340
  • Jul 7, 2019 10:21am Jul 7, 2019 10:21am
Quoting SunnyCoast
{quote} Very true!! That's why one "cheeky" future question I will definitely be asking is, "How do I get funded in Japan? Once I've got that slick track record down of course.
This member wrote something useful that you might want to know about the industry.
https://www.forexfactory.com/showthr...5#post12369135
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