Category Archives: Psychology and Discipline

The Best Trade ever!

This month alone , I surpass a 3 or 6 months performance or a year’s performance! This is the best trade I ever make in my entire trading experience.

I mean look at this…

700% … speechless… The rest of the month are  just being less trading..I think I trade more this month and focusing it 100% .

Here is the journey of this Trading account…

Started this new account in Feb 2016. Initially, I was doing well… the usual demand supply trade… Then I get very cocky, knowing that I had the experience and didn’t care less about the risk. Poisonous! It was a quick one then decided to use larger position size.

Boom!… back to 0 . Then I didn’t trade for a while.. I trade like randomly and not seldom. Slowly gaining, at times it got loss. 2nd time….then the 3rd time…0. Where is the demand on this huh ?

of course after the 3rd 0, I decided, lets try to focus this slowly and gain momentum and hence, it grew starting this year…and till this month…I was like Bit coin!!!

Now what you normally do when over achieving is to forget what did you achieve so far. These are the times you tend to get greedy, overly confident, Risk free ( irresponsible trading ) and of course dreaming!

It is also the best time to self reflect and what should be avoided. Best remedy, to rest and enjoy. Don’t trade, reset that computer of yours… so you are fresh again to re analyse what is going on and re engage!

Here are the link to today’s Trade. http://blog.warithu.com/2017/10/18/the-yens/  

Be in control! Then the world of financial is yours….to take.

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My New 2nd Edition Ebook is out!!

Thank you for all your patient. The new 2nd edition ebook is out. It is better and much more easier to understand. Especially the ‘How to ‘ identify demand and supply.

Feel free to purchase it for Only $20 usd.

ebook cover

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10 Pip or Weekly income.

AS I promise , April blog will be about 10 pip trade by popular demand. The question is why 10 pip ?

1. Because it is easy , on average , the currency moves more than 10 pip a day. What are the chances of getting 10 pip ? High!

2. Compounding it over the long run, you will definitely get a consistent low risk good reward profit growth.

3. It does not take so long to trade for it and requires not much of a screen time as well!!

4. Probably the fastest way to earn and trade for a living or when you have abundant amount of Trading money, this could be your weekly income.

4 reason is enough I think unless you can think of anything that can be of a disadvantage. One thing about the 10 pip, DONT BE GREEDY AND DONT BE TOO EUPHORIA .

Learn to let go and not bother what the price is doing afterwards. Get use to this feeling, You will succeed in just a 10 pip trader.

When and How ?

WHEN

Between 0800 – 1700 GMT  Look for demand and supply on a 15 minute chart

If you notice any demand supply after or prior the times I just mention, don’t bother about it.

HOW

1. You will ALWAYS find either demand or supply after 0800 GMT. You won’t miss it.

2. Set and Forget

3, Always aim for 1: 2 RR or 10 pip target. If it happens to be less than 10 pip applying the 1:2 RR, set your target 10 pip! If it is more than 10 pip , then you just have a bonus!

4. ALways use realistic GOALS. Earn 10 pip Per week ONLY. which in a logical sense, achievable!

Stick the above rules, you will definitely achieve it.

Lets do the Math:

10 pip Per Week. = 40 pip per month.

40 X 12 = 480 pip per year

10 pip = 1% earning gives 4% earning per month ( which in Hedge Fund term considered to be best Performance )

so in a year 48% returns.

With 1 Lot equivalent of a $400 a month grocery Money.

With 10 Lot equivalent of $4000 a month salary.

With 100 Lot equivalent of a $ 40K a month Executive Salary may be ?

Normally Retail Brokers allow up to 500 Lot max. or 200 Lot. which is with 200 = $80K a month. Possible? may be.

I had once tried 100 Lot for just 10 pip. The slippage is just enormous up to 3 – 6 pip. Why ? There isn’t just another trader or the broker does not have enough money to trade against and unable to meet our price offer. SO the trade may be half filled or just a quarter filled.

So whats the most ideal Lot size ? 30 Lot is much better to comprehend the 10 pip trade. Which gives you at least $12K a month. Which is more than enough .

Lets try it for April, see how much we can earn from it.

FYI

See attached chart below of this week.

2015-04-05_0133

OF course With a Trained and professional skill, this can be achieve Daily. But For the people out there just trying or experimenting. Once a week is adequate!

And do not use the same account , if you are having separate strategy, allow specifically for 10 pip account. OR elase your performance will be inconsistent!

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Too accurate Never gets filled

The nature of being too accurate may gets you frustrated. But at the same time you feel so good that you are correct on that move. What would you do if this happens ? Don’t get caught up with frustration and anguish. Just let it go. And wait for other better opportunity.

Its not the end of the world. There are plenty pairs out there might given you the best set up.

Hence I have remove the pending order as we speak.

m30_didnt_filled

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Adaptation to Market Changes

Performing such feat requires accurate Price action reading in the smaller time frame. Hence the earlier setup on the demand into supply, I have re adjust the position and SL so as to minimise the risk and take full advantage the reward.

See chart on the 5 minute below.

5_minute_EURUSD

Clearly no supply or even fresh one left for the next buy leg on the H1.

So now clearly we have 1. Least path resistance 2. Strong arrival 3. Buying into sellers.

My sell currently selling at a RR 1: 4 risking 5 pip for 20 pip reward.

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