Aha! I see. Thanks for answering!
Enjoy the weekend!
John
You are welcome. Enjoy your weekend too John!!
Good post. Motivated me. Thank you.
But what is up with those large fonts and bad editing?
Looks amateur. Doesn’t do justice at all to the quality of your thread.
Once again, Bravo! Good read overall.
Hi dreadtrade,
Thank you for reading my posts. You really are dreadfully honest. :10:
Appreciate your feedback. I will re-edit my posts to make it look more professional.
FMG
LOL! Made my day!
A laughter a day makes the stress go away. I have re-edit all my level up posts. How does it look now? 
I am :eek: (mesmerized)
Nice work!
Haha. Thanks. Keep reading, the higher levels are coming soon…:44:
[B]Level 07 - TENNIS IN TRADING
[/B]
What does tennis got anything to do with trading? Plenty of similarities, apparently. Yesterday, i was watching the Wimbledon Men Singles Final 2012 between Roger Federer and Andy Murray. Wimbledon is played in England, and Murray being a English homeboy, got the loudest support from the home crowd.
Here are 2 highlights from the game which showed how champions win.
- During the second set, when Federer was 1 shot away from winning it, he produced a most exquisite drop shot near the net. The true stuff of champions. Champions produce the goods when it is needed most.
2)During the fourth set, Federer is up 5-4. He is only 1 point away from winning the Finals, and he is serving the ball. He served up 2 aces to get 2 quick and easy points. Just as champions do when it is needed most.
Below are the edges that tennis champions possessed and showed when it is most needed to win titles. These edges are the same edges we need to become champion traders.
-
Never lose your cool. Federer lost the first set but he remained calmed. Even if you lost the first set. Get up and win the remaining sets.
-
Never shout at yourself. Federer did not shout at himself. But Murray started to shout at himself from the second set onwards. From then on, he lost control of the game. Even if the game did not go your way, and the opponent forces you to the point of brink, never reprimand yourself.
-
Never doubt yourself. At one point in the second set, i saw doubts on Murray’s face. He began to doubt himself. Every mistake he made, every stroke that did not go his way, he was doubting his playing ability. Federer believed in himself and his confidence never wavered.
These 3 edges are how exactly what we need to become champion traders. Do you have those?
Hi. thanx is words, cannot describe thank you for sharing, look forward for more.
yep. also having small profit targets like 10 pips per trade is very realistic and if your able to keep that up consistently, then should be able to increase your account nicely 
in the past i use to always aim for 20 pips and lost most of the times.
some interesting posts… keep em coming
Thank you everyone for your encouragement. :8:
My way, so far, exactly.
I don’t go for the money but for these 10 pips a day. Learn to trade and see how the system works.
I want to wet my feet and then to swim.
Regards,
John
Here are the 4 M’s i have mentioned earlier:
- money
- mind
- method
- myself
Out of these 4 M’s, the one that i feel that is of least importance to long term trading success is method. Why do i say? Think of it this way. There are millions of ways to make money trading. I did a google search on “trading systems”, and it showed 113,000,000 hits. Some of these trading systems claim to have been “back-tested” and “proven” to make money in trading. Then they show you charts stating that if you have followed their proprietary indicator, you would have make money if you buy at the green arrows and sell at the red arrows. All these amazing indicators, for a low low price of $49.95 per month. But wait, if you order now, we offer you a 20% discount.
I am repeating myself but i will say it again. There are millions of ways to make money trading. You only need to learn 3 methods. One for a bull market, one for a bear market and one for a sideways market. If MACD above 0 and RSI above 80 is your buy signal, and you make tons of money trading off this signal, stick with it. . There is no one size fits all approach. There are 6 billion humans on this planet. All 6 billions are unique. You are unique. And because you are unique, your approach to trading will also be unique.
The key is this. Find whatever that works for you. It could take you months. It could take you years. For my case, i personally took about 2 years before i find a profitable trading system that works for me. It is a trading system that works for me because it fits snugly into my lifestyle and my personality.
What is your profitable trading system? Find it and you may be rewarded in your trading career.
This topic we will talk about the fourth M. In my opinion, this M is the most important M of all. I am going to show you a series of photos. And after you have seen each photo, you are going to answer a YES or a NO. YES if you think the person in the photo can trade. NO if you think the person in the photo cannot trade.
Photo 1
Photo 2
Photo 3 (Pistorius, the blade runner)
Photo 4 (Nick Vujicic)
To be continued in next post, as i am only allowed 4 pics per post.
Photo 4 (Nick Vujicic)
Photo 5
If you answer YES to photo 5, congratulations to you. You have climbed and conquered the highest mountain in trading. The mountain called “Myself”. The monkey and baby cannot be traders, because their mental faculty is not developed. Pistorius the blade runner and Nick Vujicic can trade, if they want to, even though they have missing arms and legs.
What is the criteria to be a successful trader? Criteria nu
mber one is the ability to think. Trading is a mind game. If you think you can, you are halfway there on the journey to trading success.
Level 10 - Myself Part 2
In level 09, what is the key to trading success? Yes, it is the person in the mirror. If you have not done so, look into a mirror and ask the person in the mirror. Am i really ready to be a trader? Am i prepared to be a profitable trader and not a losing trader?
Trading statistics show that 90% of traders lose money and the 10% makes the money. In trading, it is a zero sum game. For every $1000 you win, you won it from someone else who lost it to you. And that person who lost it to you, he did not intend to lose it to you. On the contrary, he wanted to win it from you and take your $1000. Every trader wants to win. But if everyone wins in trading, where is your winning money coming from? Think about that.
Therefore, what is the determining factor to successful trading? Answer, it is me. Myself. If you have a winning mindset, your chances of taking away other people’s money will increase. If you don’t, you may be the 90% who gives the money to the 10%. Understand this well and you have level up one more level to trade successfully.
“Wealth awaits those who can play this game [of trading] well.” - The Money Game
Forexmindgame I hv been reading your posts and I hv been enlightened especially you using tennis and Taichi as an analogy while explaining forex…nice job, keep it up
EURUSD has been consolidating in a 180pips sideways range for 2 weeks from 09-20th July. For these past 2 weeks, it has given the big operators ample time to re-adjust their positions. More importantly, i believe these big operators have been re-accumulating their short positions. Therefore, I think they are just about ready to push EURUSD downwards. I have highlighted 2 possible scenarios to short EURUSD.
Scenario #1
SHORT EURUSD @ 1.2210-30
Stop loss 30pips
Final target profit 1.2000
Scenario #2
SHORT EURUSD @ 1.2290-2320
Stop loss 30pips
Final target profit 1.2000
Preview #2 - LONG AUDUSD
AUDUSD is found within a rising channel since the beginning of June 2012. And it has been in a very strong uptrend. Since the trend is our friend, we should go long only when trading this pair. The chart below is one of my trading indicators which i used. It shows the percentage change of the top 10 strongest and weakest currency pairs.
LONG AUDUSD @ 1.0210-30
Stop loss 30pips
Final target profit 1.0800
