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Trading around the world

  • #101
  • May 23, 2014 10:30am May 23, 2014 10:30am
  • #102
  • May 23, 2014 1:29pm May 23, 2014 1:29pm
Quoting TraderRolf
Another train in Japan and more time to think about life. I enjoy writing these small articles and I am humbled by the positive repsonses I receive. Thank you! 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...
Good article, would you mind me use it on my journal?
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #103
  • May 23, 2014 8:19pm May 23, 2014 8:19pm
Quoting FXSayWhat
{quote} Good article, would you mind me use it on my journal?
Sure, I wpuld appreciate if you put a link to the source ;-)
and thank you for the compliment. Good to hear when pople like my work.
cheers
Learn from yesterday, live for today and hope for tomorrow.
  • #104
  • May 23, 2014 9:24pm May 23, 2014 9:24pm
Quoting TraderRolf
Sure, I wpuld appreciate if you put a link to the source.
Of course =)
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #105
  • May 24, 2014 2:02am May 24, 2014 2:02am
Quoting tosch10
Hi TraderRolf, how do you treat news events and different trading sessions?
Hi Tosch,

I don't trade news at all. Although, at all times, I am aware if there are important news releases coming up. Around news, I usually don't trade at all. And NFP day I always take off.
If I have an open trade when news are coming up I am looking to taka partial profits or pull my SL to reasonable place.
Learn from yesterday, live for today and hope for tomorrow.
  • #106
  • May 24, 2014 2:14am May 24, 2014 2:14am
Hey Rolf,

Good to see you back at it bud. These are some really good trades and charts.

Happy travelling and trading :Thumbsup:

I am gonna try to drop by as much as I can.

g.
I believe . . .
  • #107
  • May 24, 2014 4:06am May 24, 2014 4:06am
Good thread it is. Brilliantly executed with good insight and explanation with your trades. You could've also inspired a lot of retail traders that wants a life just like you do. Perhaps you could make more of the traders being jealous here though. Keep it up okay, I will look to follow your footsteps as well Thanks for the inspiration though.
  • #108
  • May 24, 2014 9:37am May 24, 2014 9:37am
Quoting ghous
Hey Rolf, Good to see you back at it bud. These are some really good trades and charts. Happy travelling and trading :Thumbsup: I am gonna try to drop by as much as I can. g.
Hey Ghous,
thank your stopping by and these nice words. Looking forward to see you around!

Quoting Jordancee91
Good thread it is. Brilliantly executed with good insight and explanation with your trades. You could've also inspired a lot of retail traders that wants a life just like you do. Perhaps you could make more of the traders being jealous here though. Keep it up okay, I will look to follow your footsteps as well Thanks for the inspiration though.
Hey Jordancee,
Thanks for the positive feedback. Although my goal is not to make people jealous but to inspire and motivate to go after their dreams. I want to show (and assist) that it is possible to make it happen and that it can be done with trading.

In the meantime, after ringing the market closing bell here in Japan , I started preparing a video-series about how to create your own trading-plan. I have gotten many questions regarding this topic and I think it will be benefitial for many traders.

Happy Weekend!

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Learn from yesterday, live for today and hope for tomorrow.
  • #109
  • May 24, 2014 9:44am May 24, 2014 9:44am
Great thread Rolf
  • #110
  • May 25, 2014 5:41am May 25, 2014 5:41am
THANK YOU Fourx. Happy to hear you like my thread.

As it's Sunday evening already here in Japan, I am doing my Sunday night analysis. I made a short video for you to follow my thougt process and what I see for the next few trading days.

Inserted Video


I am doing my analysis Japanese style today, while watching some live sumo matches. Very weird sport and I still quiet don't understand everything that's going on
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Learn from yesterday, live for today and hope for tomorrow.
  • #111
  • May 26, 2014 1:56am May 26, 2014 1:56am
I just added a poll to this thread regarding having a trading Journal. Since I have gotten quite a few requests about my trading Journal, I am planing on making a Video about this topic, sharing my Journal, the benefits and what are the 'must-haves' in a Journal.

I have a custom-made, fully automated Journal that provides all kinds of statistics. I strongly believe that having a good trading Journal gives you a better edge and helps you to improve your trading method step by step. And it enables you to quickly recognize when market conditions are changing.

Have a good trading week!

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Learn from yesterday, live for today and hope for tomorrow.
  • #112
  • May 26, 2014 8:10am May 26, 2014 8:10am
Happy Monday to all,

I just made a new Video about how to perform a top down Analysis and how to create trading Scenarios. It's pretty basic and, of course, there is still more ground to cover, but it's a start

Inserted Video


I am really starting to enjoy making these videos!
Wishing you all a good trading week! Cheers
Learn from yesterday, live for today and hope for tomorrow.
  • #113
  • May 26, 2014 10:13am May 26, 2014 10:13am
We arrived in Nagoya and I had some time in the train to write a new article. This one, if you implement it into your trading, will make a HUGE difference in the results you will acchieve. For me, it was the turning point in my trading carreer.

Risk Management Basics

You often hear traders say “I made more than 100 pips in this single trade” or “I am taking this trade, but with a tight SL as I don’t like the setup that much” and another very common phrase is “I am a good trader, my winrate is far above 70%”?!

If you hear anyone say something like this and trying to give you trading advice, run fast and don’t listen to what they have to say about trading. Any of the statements above have no significance whatsoever and unmask a consistent losing trader immediately.

All of the statements need CONTEXT to make any sense, and whether you are talking about pips, a tight SL, a high winrate or a big Risk:Reward-Ratio, you need to view everything as a whole.

So let’s start from the beginning. How many pips you can make on a trade is defined by the distance of your Take-Profit relative to your Entry (And the amount of pips you make is one of the least important things about trading). Together with the distance of your Stop-Loss to the Entry, you will get the Risk:Reward-Ratio. With a small formula, the Risk:Reward-Ratio will immediately give you the required winrate that you need to be at least a break-even-trader over the long term.
Once you know your Risk:Reward-Ratio and the required winrate, you have to evaluate the quality of the setup you are about to take. Once you know the quality of the setup, your trading history will tell you which winrate you can expect from this kind of setup. The next step is simple: Just compare the expected and the required winrate. If the required is bigger than the expected, you CANNOT take the trade. And this is where 95% of all traders fail. How many traders have you heard saying “I cannot take this trade because the Risk:Reward-Ratio doesn’t match the requirements of the setup? Never?! Probably yes, because most traders don’t think that far. Trading is NOT about entries and exits. It’s all about statistics – as boring as it might sound! You need to do your homework when it comes to trading (profitable) and you need to see everything as one piece, connecting all the dots.
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Learn from yesterday, live for today and hope for tomorrow.
  • #114
  • May 26, 2014 2:52pm May 26, 2014 2:52pm
Great video and great post again,

You keep emphasing about MM, where post people focus on the setup.

btw, I love the tools you are using !!!

- Old Windows XP
- Classic Excel graphs

No fancy stuff, :Sleep tight !
  • #115
  • May 26, 2014 6:51pm May 26, 2014 6:51pm
Quoting ChanhXanh
Great video and great post again, You keep emphasing about MM, where post people focus on the setup. btw, I love the tools you are using !!! - Old Windows XP - Classic Excel graphs No fancy stuff, :Sleep tight !
Thank you! And yes, 95% of all traders focus on entries and Setups. But then again, 95% of all traders lose money consistently. Conventional trading wisdom teaches People the wrong way!
Trading is all about money- and risk-management and statistics!

I love Excel as it lets you chose yourself which data is important to you and what output you want. It's so easy to get a fully personalized trading Journal

cheers
Learn from yesterday, live for today and hope for tomorrow.
  • #116
  • May 27, 2014 4:48am May 27, 2014 4:48am
Our last day in Japan before we fly to Bangkok tomorrow (if you are from Bangkok and interested in a get-together to share some delicious green curry and a Chang, please contact me )

So we finished our Japan souvenir Shopping, which you can basically boil down to Sake, Wasabi and some Japanese desert, I started daytrading a little to make up for the shopping trip

That GBPUSD short was/is a pretty nice trade. I have taken 50% off at the 1st target area just now and pulled my Sl above the most recent highs. And we are currently boucing at the 1st target area. Don't be too greedy. Always protect your winners and don't give back too much!

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Learn from yesterday, live for today and hope for tomorrow.
  • #117
  • May 27, 2014 8:34am May 27, 2014 8:34am
Quoting TraderRolf
Our last day in Japan before we fly to Bangkok tomorrow (if you are from Bangkok and interested in a get-together to share some delicious green curry and a Chang, please contact me ) So we finished our Japan souvenir Shopping, which you can basically boil down to Sake, Wasabi and some Japanese desert, I started daytrading a little to make up for the shopping trip That GBPUSD short was/is a pretty nice trade. I have taken 50% off at the 1st target area just now and pulled my Sl above the most recent highs. And we are currently boucing at the...
Good trade Do you use such tools like order flow, option barriers, cot levels? How many country did you travel if it isnt secret? How can you hold so lifestyle with family?
  • #118
  • May 27, 2014 8:56am May 27, 2014 8:56am
Quoting Naokia980
{quote} Good trade Do you use such tools like order flow, option barriers, cot levels? How many country did you travel if it isnt secret? How can you hold so lifestyle with family?
Hi Naokia,
no, I trade purel based on Support/resistance, supply/demand, and Price Action. The key to trading success is to keeping it simple. I use a very strict set of risk- and Moneymanagement though which, I think, makes trading quite easy and predictable.

I have been traveling all around South-East-Asia (Vietnam, Cambodia, Laos, Myanmar, Thailand, Indonesia and Japan). The couuntries I still have on my list are Australia, New Zealand, China, Nepal, India and maybe some parts of South America.
I am traveling with my fiancee, she works online too, which makes everything a lot easier.

cheers
Learn from yesterday, live for today and hope for tomorrow.
  • #119
  • May 27, 2014 5:41pm May 27, 2014 5:41pm
Quoting TraderRolf
...That GBPUSD short was/is a pretty nice trade. I have taken 50% off at the 1st target area just now and pulled my Sl above the most recent highs. And we are currently boucing at the 1st target area. Don't be too greedy. Always protect your winners and don't give back too much! {image}
Currently, I am sitting at Nagoya international Airport waiting for my flight to Kuala Lumpur. I opened my trading platform and saw that the GBPUSD trade has been hitting all the expected tragets along the way. And just take a look where we put the Levels yesterday. It moved and bounced exactly where we expected it. All my 3 short term Targets have been hit and I am only left with 15% of my original order. The behavior of the cable around the Levels is worth taking a screenshot for your Journal. Very accurate and precise.

I am looking Forward to settle in Bangkok for 3/4 weeks now. The last 7 months have been packed with so many new impressions and experiences. I am also looking Forward to make a lot of new Videos and articles for you. So, if you have any Special Topic you would like to hear more about, don't hesitate to write me!
Learn from yesterday, live for today and hope for tomorrow.
  • #120
  • Edited 7:57pm May 27, 2014 6:56pm | Edited 7:57pm
Thanks!
Enjoy your travels.
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