The 10,000 Hours and Beyond Club

10,000 Hours and Beyond
What lies beyond the 10,000 hours of practice?

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What lies ahead in this thread are my random thoughts and inspirations that keeps my steps moving forward.

Demo account is gone due to IBFX demo server problem.
New live account is linked now.

Just wanted to drop by and wish you good luck! Your targets look very doable! Go for it!

I love to collect quotes whenever I get a chance. Here goes the first one and will share quotes at beginning of each new trade week.

Quote of the Week 5/19/14
"Trader who have learned to think in probabilities approach the markets from virtually the same perspective. At the micro level, they believe that each trade or edge is unique. What they understand about the nature of trading is that at any given moment, the market may look exactly the same on the chart as it did at some previous moment; and the geometric measurements and mathematical calculations used to determine each edge can be exactly the same from one edge to then ext; but the actual consistency of the market itself from one moment to the next is never the same."

Continue adding rules while working to get the journal schedule out ASAP.

Schedule contents would fall into below categories,

1. Technical Analysis
2. Fundamental Analysis
3. Risk Management
4. Target & Goal Setting
5. Dealing with DDs
6. Dealing with Winnings
7. Consistency
8. Honesty and Openess
9. Motivation to be Better
10. Forex Way of Life

I am sorta new here and not sure how FF community would like me to prioritize this list of 10 items. Anyone got any comments?

Thanks. And thank you for the subscription, IndigoPingVi.

Usdjpy forms a nice range between 101.50 and 101.10 on 15m tf.
it might as well stay within this range till JP MPS tomorrow.

101.50 and 101.10's range call was a good call last night.
JPY MPS is up today.

It was pretty stupid getting caught by both GBP and AUD news today and left me -5%.
Tonight is JPY's MPS and tomorrow would be FOMC. if this is nothing solidly interesting in TA tonight, i might as well stay till Thursday see what happens.

This week goal will NOT meet unless i pull a 10% on Thursday which is highly impossible without doubling up my lot size or a 80+ pips opportunity.

EURAUD breakout from 1.4700 on 15m TF after AUD Monetary Policy Statement.

EURAUD breakout from its 1h 200 sma after AUD Monetary Policy Statement.

GBPJPY U-Turn on a better than expected GBP CPI.



Like i said, it's pretty stupid knowing or unknowing getting involved with the news and throw off the TA completely.

So How much luck have you gotten in trading lately?

the 450 pips rally in 4 and half days fuel by AUD monetary policy release, GBP CPI, GBP retail and GBP rate decision.

Down another 2.0% got caught on EURAUD's head fake below 1.4750.

5 minute away from GBP GDP second estimate GDP q/q while holding a +1 pips position.

What to do?

Since entry was made to capture the upward momentum from 1.4750 level on 5M, position is closed when it shows sign of slowing down heading towards the news release.


Although price continue to rally towards my original favorable direction after news released, it's okay to miss it because getting major news involved was never a part of the plan.

Week ends with a whipping -6.1%, -3% was cause be getting caught with the news (AUD monetary policy statment and GBP CPI) which I was never planned to participate.

Due to this is a news heavy week, half of the trades were somewhat limited, involved or got caught to major news release. Major news risk include GBP monetary policy, JPY monetary policy, AUD monetary policy and USD monetary policy). That's quite unfortunate there isn't much room to expand my growth.

One more day to go. There will be a news-less Tokyo and comparatively quiet London sections tomorrow where my opportunity surfaces; however, chance recovering the -6.1% lost is somewhat slim. Without having double up my lot size, I need to capture over 60 pips to recover with the system that is able to capture average 20+ pips within the time is given.

Double up the lot size isn't an option because the would surely expose myself to an even greater DD risk if get caught by another head fake breakout.

Weekly Trade Highlight - Thursday

5/23/14 Tokyo Section
EURAUD Fading from its 1.4800 level, target 1.4750. 15m TF.

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1.4750 Target HIT in London section. 5m TF.

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However, position was closed when momentum showed sign of slowing down after its first leg down from 1.4800. 5M TF.

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Initial plan was to capture the downward momentum from 1.4800, and position was closed when momentum slowed down.
Later in London section we has another leg down from 1.4770 to my original target 1.4750 wasn't captured because I only place position on key price levels and 1.4770 wasn't and a solid price level.

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Had recovered a some damaged done to the account from early this week which is always good.

Done for the week.

Thread Update

Schedule (Added 5/23/14)

1. FX Quote - Sunday (Added 5/23/14)
2. Weekly Trade Highlight - Tuesday & Thursday (Added 5/23/14)​

Thread Update
Before the weekend is here, trade station photo is now added in the first post.

Good article from @TraderRolf and Thread Trade Around the World
http://www.forexfactory.com/showthread.php?t=477735

Welcome to the rat race
We go to high school, trying to get good grades so that we make our parents proud and are able to go to a good college and university. In university it gets even more serious, now we need to get good grades to get hired by a big company that has a good reputation and will, hopefully, pay a decent salary so that, within a few years, we are able to repay our student loans. When we land that job, we are trying hard to climb up that corporate ladder and do everything not to stand out, so that there is no danger of getting laid off. We work extra hours, come home late to our families, miss birthday parties, family dinners and that school play of our youngest daughter. And of course we don’t take our few days of holidays per year because we are scared our colleague could outwork us and get the outstanding promotion instead. Some brave people do take a short holiday but don’t dare to go far away from their phone because their boss might call any second. And how happy does it make your spouse when you are constantly checking e-mails while being on holidays?!

But life goes on and in the meantime we got some children, buy a house, the old car needs to be replaced, our kids need new clothes to ‘fit in’ and we have to save money for our children’s education. Now we have to even work harder. And then, there is retirement. And by retirement I mean the few years, after leaving the office at the age of 67(?!), where we can finally ‘enjoy’ the rest of our life in freedom and do the things we ever wanted. But more often than not the costs of a stressful and long working life are severe. Most people start experiencing different stages of sicknesses, unable to do the things they dreamed of when they were in university or just started their new job (“soon, when I make a lot of money, I have the time and the money to do the things I always wanted. Now is the time to work hard!”). Then our story ends and what did we accomplish? How many of our dreams, that weren’t even that hard to make come true, did we realize? What are we leaving behind? What will people remember about us?

What I want to say with this, black and melodramatic story, is that the life that society lays out for us, is, more often than not, not satisfying and will not get you where you want to go. The only time to do the things you ever wanted to do is ‘NOW’ (I know this sounds cheesy and you have heard this phrase so often, but it’s so damn true). How many people do you know who constantly say: “I wish I’d done this and that when I had the chance”. And believe me, almost everyone, when I still used to work at an office job and told people that I am quitting to travel the world, told me that they wished they had taken more ‘risks’ in life. Life is short and we only get this one time here, so you better start living the life that you always dreamed about and start doing the things you like, instead of doing the things that society expects from you. And yes, it might be tough to make a drastic change in your current life and it will be uncomfortable at some point but I guarantee that it will be worth it. Right now there are people living the live you always dreamed about – they are not smarter or better educate than you. They just took a chance and went that path less traveled.

Quote of the Week
"The point is that from our own individual perspective as observers of the market, anything can happen, and it takes one trader to do it. This is the hard, cold reality of trading that only the very best traders have embraced and accepted with no internal conflict."