Road to 5K

Road to 5K

I am just an ordinary man who want to live from trading.
I start to post here on blog just for a reason.
I want to make my trade more accountable more responsible and more profitable.
My target is growing my equity from 1K to 5K within 3 months.
I hope I can make it happen in the near future.
Bismillahirrohmanirrohim....

My favorite trading jargon is (quote from some where on many forum) :
Trading need discipline, patience & consistency and trading is a journey not a destination.

My trading rule is (again, quote from many resources on web) :
I know where Im getting out before I get in.
Whenever I enter a position, I have a predetermined stop. That is the only way I can sleep.
The position size on a trade is determined by the stop loss, and the stop loss is determined on a technical basis.

My trading mind set is :
Trading is not about being right
Trading is a game of Math
Finding setups that offer you a good risk & reward
and pulling the trigger
- Mike Bellafiore -

Disclaimer (compiled from many resources) :
1. All content posted here is for educational purpose.
2. No information or opinion contained on this thread should be taken as an order to buy or sell any investment vehicles
3. Trading Forex, Futures or CFD carries a high level of risk and may not suitable for some investors. You can loose more than your deposit.
4. Before deciding to invest you should carefully consider your investment objectives and risk appetite.
5. Past performance is no indication or guarantee of future performance.
----o0o----

March 26, 2017 - Situational Update

After 1 week trading... there is still an evil inside me... yes.. a forex evil or maybe several forex evilzzz...
Another thing is... there is an evidence that... stop loss hunter is exist on market

EURusd is an Up Trend (I hope I am not wrong about this)
I try to make a scalping after market open.
I see a higher low so I put a small buy order with small stop loss (only 3 pips below higher low)
I don't know.. but it's very often happen to me... after I enter the market... the price is reverse...
I see the price is chasing my stop loss.. like the picture below...
https://charts.mql5.com/14/524/eurus...services-2.png

My reaction is like always... I move the stop loss & reduce my lot so I still maintain 1% risk here.
I hide my stop loss below asian market low... I don't know.. is this trade can survive or not..
https://charts.mql5.com/14/524/eurus...l-services.png

I loss 5% during my 1st week.
Actually I can book 5% profit or even more if I am not close manually my long position on GBPaud
This is also my bad habit. I will se an opportunity to open long position here on this counter.

I close my position on GBPaud to maintain my position on WTI
I see WTI is very promising.. already make 3 hammers on daily candle.
I risk another 2% here.
If I got my luck.. these two trade will recover my loss..

Lesson could be taken :

1. Stop Loss is very crucial. It is a must and should be place in a proper position.
Most of my loss is because of this. Unfortunately.. after stop loss hit.. price move to a favor direction...
I need to know where to exit before enter the market. Exit means win or loss.
I remember.. I was read somewhere on internet.

2. Do not itchy finger.
Forex evilzzz inside me manipulate my mind so it told my finger to always click the mouse.
This is my biggest enemy. I should trade on big time frame.
I remember again.. I also had read somewhere on internet.

--> So.. if internet knows how to trade better than me.. why i am not told the internet to trade for me?
that is the conclusion from the 1st week of trading... thank you..
----o0o----

April 02, 2017 - Situational Update
Trading Week : 2

Trading Performance : -0.3%
Trading Psychology :
Close all position because I am afraid price will be reverse next week or open with gap
Although WTI has a good fundamental which is low on inventory that will support the price
and the daily closing candle still up

I still have problem with my trading psychology.
There are several trading psychologies aspect that I found such as :
https://puu.sh/v6Pcm.png

I tried to improve my discipline by make a trading journal created by :
tradingconsistently dot com
I will post my trading journal here...

Another trading problem :
a. Finding the best pair to trade --> Try to use currency strength meter
b. Trading time frame --> still confuse to scalping the market or position trading using higher time frame.

This week conclusion :
1. Will create a trading journal on tradingconsistently dot com
2. Continue to scalping but not itchy finger
3. Will learn to trade on high time frame
----o0o----

You may like this = https://www.forexfactory.com/showthread.php?t=588764

I am afraid I am back to FF to start make a new journal

Strong Currency : GBP
Weak Currency : USD & JPY

I have 2 OP and now in green zone..

I will not close yet.. waiting for H1 bar to close

Price go down quite fast after a shooting star on M5.. I close my trade on the worst position.. on the bottom... and after that.. price goes up very fast and make a hammer...

It always happen on my trade.. very bad luck

I was planned to see and waiting on H1 bar to close.. but see the price is moving fast not on my direction make me nervous..

If I close position --> price will reverse but If I am not close position --> price will going through..
That is my typical problem on trading..
what a bad luck

USD strong & GBP weak on Japan session
OP sell & move SL to BEP++

H1 trend was down... if price continue down will make a bearish pattern.. tweezer or harami

previous sell position was closed.. close on BEP++
I was open Sell position again 10 minutes after that @1.3552 or 13 pips below previous sell

right now it was +30pips... move SL to BEP++ again..
I "hope" strong USD continues on London Session..
Two level should be watched I think... @1.3540 & 1.3470
@1.3470 considered to be a strong support I think... because it was RBS-resistance become support on yesterday uptrend
If D1 candle close below or between that two level (tweezer or engulfing pattern confirm)... I will consider to hold my position until next week...

as usual... price hits my SL and after that goes to my directions...
i still got problem with SL or SL hunter.. and very bad luck...

back to FF..
i want to start journal my trading again here in FF...

my goal is to increase my equity back to $1000 again....
Bismillahirrohmanirrohim....