My trading journey

Another 64 pips from the piggy trade ... Can't believe I've learned a lot from 18 mins eddy... Thanks again kabayan! I'll remember the 3 rules of capital preservation...

1. Preserve capital
2. Preserve Capital
3. Repeat steps 1 and 2.

Til our next session if you can spare the time, coz I'm sure I still have much to learn!

Appreciate the help

arigato gozaimasu

Great night dongsky picked up some more good info, thanks until next time.

sx3x4236 eu

and that's the wonder of skype always check egor all the time... hehehehek

... and still ridding shorts

opppsss...

..... and now i'm squared @ 4250

....... now i'll wait for us session...

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sx3x4310 ... eu

....

darn!!! it stop moving

..

Hi dongsky!
First time looking at your thread.... Can I???
Good job.
p.s. do not worry - it will move.... but which direction....
Good trading.
Jaro

Hi Jaro,
of course you can

i know it will... just that i'm bored waiting... it looks good to short euro though... but need to wait some more

regards,

... now it's coming back??? dunno yet...

nimble...





...




...........

strong bear rejections ??? we'll see how far they can push price down...

...and so it begins???




now looking for a good area to scale down...

scale down...4303

Squared...4303

...

getting ready to flip???

carefull...

...
bx1x4296 eu

bx3x4267 eu

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Hi Dongsky,

I have been going through your journal and the fti's TAF thread for a couple of months now. I have been reading TAF as well as seeing your dance in action, which is a great thing.

I have a question though, I wish to try the "dance" myself, but one of the prerequisites for the "dance" in fti style is "enough" capital. I will be trading mini lots (0.10 lot). What do you think account size should be to start with to trade mini lots to practice fti method?

Even if I have to do it with a demo account, what should be the size of the demo account? Demo account could be huge but I want to be realistic even while I'm demoing it and the same size will be for the real account as well.

Thanks again for your Great Journal and directing me to fti's thread!

Hi Niksan,

So you're ready to take a further step away with your trading... to open a live account that's good... but wait a second... how sure are you that you're ready to live trading???

Okay, as what most of the forex traders do... since you ask me about it, i can tell (in my humble opinion) you what i think best in your situation...

since i don't know you personally... i may suggest to you to open a demo account first with the same amount that you want to put for a live account... for example; if you're thinking to open up a 1k mini account, then you should open a 1k demo account first.

then the fun part is about to start.

try to prove yourself that what you thought you know is true and correct... and will make you profitable...

start dancing... and in time, you will find yourself out of rythm most of the time... and you will continuously re-inventing your strategy or you trigger entries and exit... your timing... calculation of time and price action development...

you might experienced few drawdowns... but hey try to think - if this was your live account... and you have bad drawdowns or margin calls... what are you gonna do about it?

so if you loose all your equity of demo... then try to pause for awhile and look back... of you past trade history: now this is where your journal comes in handy... (no need to publish it to public... best is to keep it private) you can observe how you reacted to certain behaviour of price action at a given time of day... be honest to yourself...

observe supply and demand areas... learn and study basic technical studies such as chart patterns...

then you will start to understand volatility and momentum...

after a short recollection of the past... then you can open another demo account... and try to apply what you have learned... from a not-so-long-ago experience you had...

repeat and rinse... do this again and again until you will become profitable...

remember this, once profitable... it means that you already have found your edge...

be that way... profitable for at least a month or two ... then and only then you can put your hard earned cash to the test

and here will be a full different story... where emotions will play bigtime...

... prepare yourself for the unknowns... it's a scary shit!!! and forex has full and loads of it... prepare to brace yourself!!!

not scared enough??? then probably, you're on the right path after all...

cannot say no more ...

all the best keep me posted.

I cannot remember where i got this article... but it's nice to read though

This is an eye-opener to me... and my key for my success...

.............

FOREX AND PHYLOSOPHY

It may come as a surprise to those who are not Foreign Exchange (forex) traders, but Oriental philosophy is a strong force in the lives of many forex traders. Some of the best forex traders across the world have an abiding interest in the tenets of Zen, Tao and Vedic philosophies.
Besides being the closest example of the elusive economic concept of 'Perfect Competition', the forex market is also a very close work-place reflection of 'life'. It has a rhythm and being of its own, which only the evolved can tune into. Like life, the market is what happens to you while you are busy making other plans. The market can defeat you, break you down. But if you learn to let go, learn to flow with it, to dance with it, it can and does bestow on you both success and fulfillment.

The Philosophy of a Trader

The market is always right. The market never comes to an end. The market is ever-changing, and yet, ever the same.

There is no eternal damnation in the market. The only time you really fail is when you quit in disgust and admit defeat. That is like committing suicide. Those who continue to trade despite the setbacks, are the real heroes, living life the best they know how, evolving and growing through their losses and gains, through their triumphs and defeats, their fears and greeds, their hopes and anxieties. The Trader cannot afford to let yesterday's gains or losses cloud his thinking as he trades today. Though he may be carrying a position over from yesterday, he always has to look at the market afresh. Each trade, each position is a new position. Today is the first day of the rest of his life.

The Market exists by itself, unaffected by and separate from the trader and his emotions. As he slowly begins to tune into the market and its ways, he starts to observe the Tao of the market. Instead of trying to force the market to do his bidding, he starts to embrace Zen and to dance like a Samurai warrior; he starts to live life instead of struggling with it. That is when he starts to make money on a sustained basis.

Zen and the Market

The concept of Zen, they say, cannot be described. If you can describe it, it isn't Zen. Zen can be felt, though. It can be conceptualised. Picture a Judo exponent or a fencer. Picture Bruce Lee. As his hands and legs move all the time - blocking, feinting, chopping, kicking, dodging - do you think he has time to think? He obviously does not. Yet, he is no shoddy amateur either. Though he does not think consciously, all his hard work, discipline and years and hours of excruciatingly painful training pour into every action that he performs. And as he pours himself into each moment, as he lives in that moment with his entire being, he is not using his petty conscious mind. The Force is acting through his body-mind equipment. The supreme Samurai makes himself available to the Force. This 'mindless' living is Zen: When you act without the dead weight of your hopes and anxieties, fears and greeds, your superiorities and your inferiorities; when you just act, when you just live.

A good forex trader is like a Zen practitioner, a Samurai, a fencer, a Judo exponent. He approaches the market with the same mindset. When he plays the market, he is practicing Zen, and in turn, the market reveals to him deeper beauties of Zen.