My Trading Life

I use my own indicator alert system and execute orders with my custom scripts . Some times for exit and shift Stop loss I have my own custom EA. But I don't do 100 percent robots.
Think of me as robocop. Can't let the machines rule everything.

Finally a thread where there is some positive outlook! I like how the emphasis is on mostly what you are doing when NOT in a trade/ waiting for a position to exit.

Thanks dphoong

I have learnt over the years is after adding your analysis , biasness and filters........................ 90% of the time is waiting for the correct or A1 setup......

Therefore , how you wait will affect the quality of the execution when the move finally comes..............

If you are compromised....... eg : lack of cash , fight with dog , screw in the ass by boss etc....... It will affect execution..........

Your first indicator is when you sit on the chair before you turn on your computer. Are you mentally, emotionally compromised at the point when you sit down ?


If you are playing 1 hour charts, the move to be played out will take 4 to 20 hours from a trend. Waiting for that setup might take days............During that time , do something to ADD GENUINE VALUE that is not related to trading to your life. Because if you are cheating , your brain subconsciously will know that you are not living your best.............. and it will affect the quality of your trader life , which then in turn affects your execution and results...........


It just all about how you manage your time.


I don't really agree with the image of bringing your laptop to the beach while checking out the bikini asses....... That is more like FOREX COURSE MARKETING........... If you want to enjoy , enjoy. If you want to execute properly , then execute it properly.

I have made some mods to my GMMA setups , to make it less sluggish and more lean..... And dropping the gear down to Daily charts as the que.


was watching EURUSD EURJPY EURGBP for shorts and USDJPY for longs , however I think these pairs have traveled quite a distance............Still waiting for a retracement to enter.............

Currently watching :

USDCAD EURCAD (still need further confirmation) for longs and CADJPY for shorts

After 9 years , my father message me last night to concentrate on my fund growth and my wife.

After 9 years , he finally accepted me trading. Not as some one that is just playing the graph game or some one that has compulsive financial-porn disorder anymore.



Some one give me a tissue.

Im still having issues with my parents trying to understand and accept what I do for a living. Coming from a traditional chinese family my parents view trading as a "Gamble."

Every business itself is also a gamble. I am sitting in the midst of Hong Kong startup scene with so many young people with so much dreams pouring in their own capital. Probably out of 100 , 3 will just make it. Law of natural selection will just dominate. I have also worked with thousands of self-employed people in the course of my more 'real' career.

Trading is a double whammy from parents as traders

1. Don't add value to society except being a liquidity provider.....
2. Deems as volatile --- unstable........

I have been running questions with the banks on my next venture, doing picture cards for children.... And since its a new business without 3 years of financial history, the banks will want a personal guarantee from a hong kong permanent resident. But doing picture cards for children would seem as more 'tangible' to our society as there are some physical goods involved and it sounds more 'noble'.

From a capital risk to reward ratio, the chances of it blowing up is also probably the same as trading, as 95% of biz owners fail in 5 years.....

I see trading as the most efficient form of biz as during my career , I have dealt with so much human shit problems and for like 1 to 20 dollars rewards. That's where the 50 dollars administrative fee goes too.... paying for those who sit at the back, fixing problems and sorting out the paper work. But those who pay, will feel justified in getting their side of the story heard and terrorizing your day is perfectly appropriate. So we put on this 'professional' face and take the hits for that 1 to 20 dollars.

And don't get me started on unproductive management meetings and corporate 'tai chi' (chinese art of diversion)

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Traders usually suffer a lot of persecution until trading is able pay for something 'real'.

From your first quarter profit in buying a suit to buying dinner celebration for the family and until you reach some form of 'income level' , there will be the cynicism and condemnation every step of the way..... Even at my place.... some have cited the story of Long-Term_Capital_Management and how trading is not realistic blah blah ..... these people see the blow up of the company but they won't realized during this process, I am sure the partners and staff were adequately fed and salaried. Even if I were to suddenly blow up for some unknown reason , nothing is lost as every month , I took my 'salary' . I will just go find a job , get back into the game when I am ready again.

And when I counter-asked those fellow entrepreneurs at my place , they claim after years they are still not profitable with their 'more real' businesses.... money coming out from personal pockets and every one is still trying to pitch to investors....how their dumb friendship apps is going to revolutionize this planet ...... So much so about traders having high risk....... Pot calling kettle black.......I have to gently remind them , mine is already a cashflow business , not a untested product begging for users....

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Anyway for any other biz , I am pretty sure if Mark Zuckerberg did not make it big .... His family and chinese wife will ask him to get a real job.......and stop his pipe dream of connecting the world.

Good Morning Tuesday !

Some scenes around and in my workplace. Snaps from my Android.

Continued

Enjoyed reading your Thread dude. Thanks for the Tip off on MADash - Looks cool. I've been running the similar dash from Trader9 on the Basket Trading Thread which I use to compare currency strength.

On the VPS front - I'm looking to use these guys https://www.digitalocean.com/ when I run into latency issues in future. But seeing as I sit quite close to a lot of brokers servers, I'm able to get sub 10ms latency from my home PC.

Subscribed.

Thanks Mclovin. I use DO for my websites. They are mostly linux boxes. Might have to use windows on KVM virtualisation if you want to install metatrader ..... Or they might have a windows installation but at a higher price. DO speed is great too... My websites on their singapore server seems some how faster than some hosts in hong kong citing from website speedtests....

https://www.mql5.com/en/articles/1503


I found this article on mt4 graphical objects. Will create my own dashboard in the coming weeks. :nerd::nerd::nerd:

Ok ........... so now I am made aware ......... That China affects SGD that much :nerd:

USD / SGD hit 1.4000 Good to know that my account is in USD.

Expectation

Entry

Precision

Good Reads.

Even though some called him a scammer , his little stories opened my perception regarding wealth.

http://qcseminars.com/files/2011/01/...miltonwink.pdf

Question to be solved .......

How does a traveler know or predict which is the most profitable routes among 30 routes ???

Over these few months , my attention across 30 pairs seem to not justify the output given.

I am thinking of re-allocating my attention resources to 3 to 4 main pairs and 1 to 2 additional potentially volatile pairs.....

Thank you for sharing

Pairs watching


Looking at southwards for EURJPY , GBPUSD , AUDUSD.