Hey just thought I would let you know that this is from the book Think Rich and Grow Rich by Napolean Hill. Great book worth reading a few times. Thanks for the video, one of the most beneficial chapters in his book. 
- #43
- Edited 9:39pm Jun 10, 2015 9:06pm | Edited 9:39pm
{quote} Man your right on "people who claim to trade 10 years but still lost in the jungle. Its what you do and achieve in those training years not amount of time." I started demoing when I was posted to unit after bmt and that was in late 2012. Started small acct in live in 2013 and busted that acct despite high win ratio (refuse to take loss until margin call LOL) Learnt my lesson and started another small acct and so far so good. I have to say I learnt the most only in recent months despite starting in 2012. Well im currently single so dont have...
Wow your trading 5-20 lots so your capital must be pretty huge. ~~ I am not huge ...... its necessary to pay my mother in law, office rent, feed wife
. Too much marketing bullcrap about $25 deposit plus 300% bonus will make you richer than warren buffett. Before you become buffett , market will buffet you and you will be spreading yourself for the vultures....Being undercapitalized is one the most hidden levels of trader hell , which he will believe he is some how the 'chosen one' to be able to deliver a gazillion gabillion % every 24hours and zero to hero. The forum is littered with plenty of those stuck in this realm of hell / purgatory.huge sum of money do we need to change a broker to a place more reputable such as banks ? ~~ My uni hall room mate was from Lehman Brothers. Pior to the bankruptcy , he called me crazy chinese gambler. After bankruptcy , the joke became on him...... (he is running a successful business now to be fair) Moral of the story : if some one wants to screw you up , eg: greece ? would you dare to buy the bonds ? Shams , scams, bankruptcy can affect on all levels , trader , broker , bank , gov. I would prefer if you really have that large some of money put it in other asset classes. keep exposure restricted
or we can continue to trade in peace with a market maker so long it is regulated by MAS ~~~ I bring reference to the recent SNB
Alpari was regulated in the UK ....................... SNB Jan 15 .... some of the victims which wasn't even in the CHF haven't received their money. (Thank god that day I was in USD JPY bagged 6k usd with another broker)
Saxobank should be approved by MAS ................... Chasing money from you....... Acting blur about the previous guaranteed stop loss order which I questioned them in HK ..... which if one was willing to dig the google cache pages you will find evidence of such product existed.... http://www.forex-awards.com/forex-brokers/saxobank/ <--- third party site I am just too lazy to dig their cached pages. Actually dont' really matter if it exists or doesn't any more , I am not trading with them.
FXCM listed on NYSE........... Now changed their negative balance policy
http://www.forexcrunch.com/snbomb-re...forex-brokers/
Another case years back MF GLOBAL derivatives defaulted or something like that can't remember but it was regulated by MAS did not follow up on that as it did not concern me.
Therefore, when you play this game invest in your skillset and mindset. Every thing else can be taken from you if the opposition wants to screw you over. Even if you are bankrupt by title , I am sure you will still have your skill set and mindset.
Im just afraid in case they will play pattern when we are withdrawing large amount of money ~~ My withdrawal is in thousands and recently 5 digits as I withdrew almost everything from my broker as I read some unfavorable news about it failing in 2 out 3 jurisdictions and so far no problem. Millions i won't know. If you are that afraid, then play with a few brokers like what I am doing now. break up the amount.
- #44
- Jun 10, 2015 9:15pm Jun 10, 2015 9:15pm
{quote} Hey just thought I would let you know that this is from the book Think Rich and Grow Rich by Napolean Hill. Great book worth reading a few times. Thanks for the video, one of the most beneficial chapters in his book.
Many traders don't realize it might be their own identity that is holding them back. I used to work in lots of sales people. And all I can say is sometimes you can't make it to the million dollar round table is really about your identity and attitude. Thats why i decide this is one of the videos I would like to keep in my thread.
Hope it benefitted you piptime.
- #47
- Edited 5:14am Jun 11, 2015 5:02am | Edited 5:14am
thank you for taking the time to enlighten me bro and damnnn nice lunch. awaiting to see you post more on your lifestyle and experience with full time trading
Full time ?? hehhhh I dont' know why this phrase gives me the chills . Perhaps I don't want my life to be just the market alone. I am working on helping my wife set up her clinic / centre / website too. I think that gives me some breathing space from the market and so I won't be that consumed by it.
Lifestyle , well...... you basically have alot of free time or own time just like any other self employed guy. And no boss barking down your ass.....If you see me on the street , I will just appear as a very normal office worker.
The first few weeks after firing your boss , you will tend to do lots of weird shit like watching category 3 movie in cinema during office hours
, however that movie cost me 5k usd opportunity cost. Then foot massages here and there. Swimming and gym during office hours. After a while , it becomes normal. So I won't say i get a real kick out of being fully financially supported by my trading. Its just like every body else....
- #49
- Edited Jun 12, 2015 2:02am Jun 11, 2015 9:11pm | Edited Jun 12, 2015 2:02am
Just when you want to open your eyes to see how awesome the market is doing ............. and you wake up to MT4 mobile's black screen of death 
................... I reinstalled the app and it returned to normal ............ I did send them an email though .... I want to see how fast is their response.........
................... I reinstalled the app and it returned to normal ............ I did send them an email though .... I want to see how fast is their response.........
- #50
- Edited 9:27pm Jun 11, 2015 9:12pm | Edited 9:27pm
The Breakfast Update
I am trying to get creative with the liquids...... The grains tastes too much like animal feed.............. Perhaps starbucks is able to help.
UPDATED: Though its still not food for the gods but at least it tastes something that your 5 year old kid brother would eat.
I am trying to get creative with the liquids...... The grains tastes too much like animal feed.............. Perhaps starbucks is able to help.
UPDATED: Though its still not food for the gods but at least it tastes something that your 5 year old kid brother would eat.
- #51
- Jun 11, 2015 9:15pm Jun 11, 2015 9:15pm
- Joined Jul 2013 | Status: Gone | 1,106 Posts
You cannot be extraordinary by being normal
- #52
- Jun 11, 2015 9:21pm Jun 11, 2015 9:21pm
How is that Xeon holding up? Looking to upgrade soon torn between the fx 9590 or an 8 core i7. My current pc is feeling the load running data on 4 screens. Which would you go for?
Hi Investing101,
Currently I am using services from the vps-mart.com. They are considered to be cheap for vps hosting. (Dear all I am not trying to promote their services. In fact, recently they just drop off their live chat
) I have just followed a video on youtube advising to delete off the history files and set the max bars on chart to be 1000. <---- Depends on your EA or indicator. As I understand that some indicators and EAs do not have a limit in how many historical bars they process, thus making the MT4 sluggish or unresponsive.However in future , I am thinking of renting a rackspace at one of the local hong kong datacenters and buy my own server.
- #55
- Edited Jun 12, 2015 2:20am Jun 11, 2015 11:58pm | Edited Jun 12, 2015 2:20am
hi MarkChew, thanks for sharing good stories. i like hk food, i get what i see in the picture, usually much bigger portion than those in sg and to my taste, well, at least in 尖沙咀area. wish i can have heavy and nutritious breakfast, balanced lunch and light/no dinner, but things don't usually happen as planned. always good to learn something from successful people and their stories. btw, you only place your trades in the morning? since you said you don't glue yourself to the screen and only spend 30m ~ 1h screen time per day....
to enjoy good food , just need to know where to dig I use the 30m - 1h to check if there is anything favourable in the market but not necessarily trade. I like to look for monthly opportunities on the weekly chart, then see if there is any confirmation on the 4 hour charts and then zoom to 1 hr /30min charts to place favorable trades.
Eg. of trade entry see attachment
I don't bother to publish the results is that my account is for cash flow purposes not flaunt growth and air to the whole world. I am not looking for investors, so after withdrawals my ROI numbers are also probably screwed and I didn't really bother of entertaining the thought of airing out the statistics.
Other image was when I was still working in singapore and traded part time, about 26 times in 2 years off the 4 hour chart. So if you are looking for validation of retracement trading works.... then there it is.....that was a couple of years back when I didn't withdraw and did what every one else did , trying to grow the account to something sizeable.
A couple of years back , when my professional trader friend told me just screw with the numbers and just trade.... I didn't really understand what he meant as every one online was airing their numbers. I did 200% plus and thought it was stellar performance that I achieved but he showed me how he clocked 600% plus in gold in 3 weeks He ended that year with 100k 'bonus' apart from his job.
Now I understand why.
A main bulk of traders , are in compensation trading mode. They don't have enough and they are looking to show the world that they have a good score. However, they might not have the stable cash flow. When you get fixated on percentage numbers , after a certain point it has negative detrimental effects on your performance. As you would want to keep your good score, eg beat S&P , or some world best hedge fund blah blah ...... you will tend to lose the zone and what was important to see market just as it is.
My frequency of trades now may anywhere be 4 to 15 trades a month depends on my rythmn (fight with wife, dog died , insert life event that you can't control here). I may not trade as well or as frequent as some of the forumers here but I do know one thing is for sure..... benefits of being adequately well capitalized is humongous. You stop the compensation trading nonsense or at least keep it to a minimal. I run my operations like running my departmental revenue , not personal '
Over those times where I did 5sec ,30 sec (oanda) ,1min , 5min was more for building up confidence in your system phase rather than making reasonable amount of money for me. So you will try and act smart and tell yourself "its ok I have a small account eg. 500 dollars" so i will end up trading more to make up for my small size because some trainer in singapore claims to make money with 500 dollar account and 100 % wins. ( I am not going to mention names, those who are in forex long enough they should know
) These are very dangerous marketing tactics to a potential wannabe trader. That is where serious problems start.They make wrong goals or goals that are not sustainable eg. If every day i do 10 pips , I will be a gazillionaire in 5 years.
Inserted Video
True Proper Growth is always slow and steady because it always takes time for your 'identity and subconsciousness' to set in. If not, every one in forexfactory will be generous donors of the bill gates foundation
. If you have listened to one of the anthony robbins talks/seminar, there is a concept of 'self-sabotage' , because some how your subconsciousness will tell you its not possible or you are unworthy.Anyway , I m rushing off for lunch with my fellow startup entrepreneurs , sorry for the long winded post.
- #58
- Jun 12, 2015 12:33am Jun 12, 2015 12:33am
- Joined Nov 2008 | Status: Trader | 2,141 Posts
Build your confidence at that stage. I assume that most traders are typically male and when you have profits at this stage best to withdraw it and bribe your significant other if you want world peace and full support. I have heard countless of stories GF gives up on BF because of his 'gambling addiction'. Your significant other usually doesn't understand the graph game that you are playing. They only understand the dresses and bags you buy for them. The world is realistic even with those who are supposedly in love with you. To get full support and prevent breakups and not cry that you are a loser, you need to resort to bribery.
Hi
I totally agree on bribing your better half, and I´m married since 35 years.We are after all, monkey descendants...
Took me literally 15 years to be profitable. A few years back I broke even for the first time.Last year I trippled my capital.
I trade EW and fibos..2 systems, one 4 hours up, the other one short term when I find the opportunity and have the time to play.
Anyway, one thing that changed my performance radically was using stop hunting as part of my trading plan.
As a filter to enter, and to trail my stop.
Big Banks use robots to trade, and they are programmed to wipe the so called "liquidity pools"....sitting ducks, retailers stops.
Almost every big move begins after a flush of stop hunting.So before I enter, say on a 4 hour chart, I need to identify a stop hunt, prior to my entry...usually after that , the moves are strong, cause the Big Boys are behind it.
All the best.
I have heard countless of stories GF gives up on BF because of his 'gambling addiction'. Your significant other usually doesn't understand the graph game that you are playing. They only understand the dresses and bags you buy for them. The world is realistic even with those who are supposedly in love with you. To get full support and prevent breakups and not cry that you are a loser, you need to resort to bribery.Hi
I totally agree on bribing your better half, and I´m married since 35 years.We are after all, monkey descendants...
Took me literally 15 years to be profitable. A few years back I broke even for the first time.Last year I trippled my capital.
I trade EW and fibos..2 systems, one 4 hours up, the other one short term when I find the opportunity and have the time to play.
Anyway, one thing that changed my performance radically was using stop hunting as part of my trading plan.
As a filter to enter, and to trail my stop.
Big Banks use robots to trade, and they are programmed to wipe the so called "liquidity pools"....sitting ducks, retailers stops.
Almost every big move begins after a flush of stop hunting.So before I enter, say on a 4 hour chart, I need to identify a stop hunt, prior to my entry...usually after that , the moves are strong, cause the Big Boys are behind it.
All the best.
- #59
- Jun 12, 2015 1:08am Jun 12, 2015 1:08am
{quote} The food I ate cost 14.20 USD for the buffet and the shop is at tsim sha tsui , isquare, formerly Angelababy cafe. You don't need a million dollars
so i wanted to know how fellow traders in Asia plan for their trading days, and their trading styles. good to know you look at smaller time frame to find a retrace to enter. makes a lot of sense.
thank you.
Build your confidence at that stage. I assume that most traders are typically male and when you have profits at this stage best to withdraw it and bribe your significant other if you want world peace and full support.
It's a very interesting idea to use stop hunting as part of your trading plan. I have personally faced this type of situations quite often, but most of the time I could avoid losses because I tend to move SL to break even point quickly. But like you could imagine, I sometime miss the big moves as well. Could you teach me how to identify those area? I'm sure a lot of people will be interested in this topic. Thank you !