[QUOTE=“Nikitafx;542159”] EA had a good weekly set up The entry was clearer on H4 compared to D TF
Ok next weeks promising candles are USDCAD and EURGBP. The EURGBP had an engulfing candle last week, it looks like the bulls r back. >[/QUOTE]
Hi Nikitafx,
Very inspired with your thread since 2 yrs ago. I read that you might be holding some talks/courses in Malaysia and Singapore. Are you still doing it? As I can’t use the PM function can I contact you via email?
Joe
Hi Nikita.
Thank you for your advise!
For as stubborn as I am, about not wanting to trade longer term trades, I have finally decided to approach trading the way you do.
I am so passionate about learning to become successful in this business. I now realize the smart way to go about it is from big to small. (thanks to you) Oh, someday I WILL get to the point where I can trade in all time frames, having strategies from the 1 min charts all the way up to the weekly ones. (multiple strategies from the toolbox) I guess I just want to skip the crawling part and go straight to the running a marathon.
I want to thank you. I’ve been reading your thread, only up to July 2011 now, plan to get to the end, and as I read I find a lot of hope. You seem to have learned very much over time and I can tell that your always in pursuit of learning more and getting better. I love to read from people who are like that.
So, speaking of that, I got so much more to read from you. And I surely will be in touch with you.
I hope this thread can go on forever!
Thanks for all your work.
Mike
I am looking for AU pair, waiting for daily TF to see how it form.
But weekly making LH, lets see what market does on Monday.
I am looking for short during the week.
WTF
[QUOTE=“coolbriz;546335”] Hi Nikitafx, Very inspired with your thread since 2 yrs ago. I read that you might be holding some talks/courses in Malaysia and Singapore. Are you still doing it? As I can’t use the PM function can I contact you via email? Joe[/QUOTE]
I am far from being able to conduct talks coolbriz.
Not in that league yet.
I have tried forming a trading group previously, thrice to be precise.
The plan was we meet maybe once or twice a week over coffee and discuss trading.
It didnt pan out as how I thought it would.
The last was four months ago in Singapore.
The part where you mentioned about doing a course, you and I both know we cannot conduct one or two sessions explaining a trading method hoping that those who attend will learn how to trade and be profitable.
Ive always advised people to save their money and use google.
I am now at a stage where I believe there is not a single seminar or course out there that is worth the money you pay as far as trading is concerned.
A course will benefit an absolute newbie who might have questions like what is a spread, how do we open an account or how do we navigate through MT4.
The moment the subject matter touches on how to trade, its a waste.
It takes months for us to even get a feel for how different timeframes move. Let alone the rest.
The best place to share ideas and discuss trading is on a forum like this.
An electronic board removes all issues that arise when a group of people meet face to face.
And the best part is, all previous discussions will be there for the perusal of anyone who joins in over time.
The last group I attended got the most out of the first session only. By the time we were meeting for the third time, we were having issues that arise from the variance between individual commitment and learning capacity.
It brings forth so many issues that are filtered on a forum.
You can add me on FB on the same nick.
I always advice everyone who sends me private messages to try to post their question on the thread itself.
That way other members here would also have a chance to participate or take something back from the exchange.
[QUOTE=“Mike Wolski;546352”]Hi Nikita. Thank you for your advise! For as stubborn as I am, about not wanting to trade longer term trades, I have finally decided to approach trading the way you do. I am so passionate about learning to become successful in this business. I now realize the smart way to go about it is from big to small. (thanks to you) Oh, someday I WILL get to the point where I can trade in all time frames, having strategies from the 1 min charts all the way up to the weekly ones. (multiple strategies from the toolbox) I guess I just want to skip the crawling part and go straight to the running a marathon. I want to thank you. I’ve been reading your thread, only up to July 2011 now, plan to get to the end, and as I read I find a lot of hope. You seem to have learned very much over time and I can tell that your always in pursuit of learning more and getting better. I love to read from people who are like that. So, speaking of that, I got so much more to read from you. And I surely will be in touch with you. I hope this thread can go on forever! Thanks for all your work. Mike[/QUOTE]
Thank you Mike.
Its important for a beginner to cut down on their trading frequency.
I wish someone had told me why when I first started.
Well people did tell me not to over trade, telling me I will loose money, but they didnt tell me why.
In my own opinion Two to four trades a week is much more beneficial to traders the learning curve.
At the end of the trading week, it will enable us to clearly analyze what we did, and what we could have done better.
And the lessons learned from those trades will contribute greatly to our overall understanding and improvement.
We will get the hang of it much more quickly.
This is compared to a newbie trading a lower time frame and at the end of the trading week having an average of 30 or 40 trades in a day.
That will be about 150 to 200 trades a week.
We wont even remember why we took a certain trade and what we should and shouldn’t so the next time.
My personal best was 42 trades in a day.
Purely destructive and counter productive.
We will know that we are not making a profit but loosing, but we will not know why.
And without knowing why, we will be forever making the same mistakes again and again.
One of the best advises there. I should take it a print and paste it on my board so that I can control the over trading.
I have always wondered if 2 trades per week does serve us at all. But it took me 2 years to realize that we need not trade everyday though the market is there…
To Nikita and all the member’s in here…
Like we have personalities for inspiration in almost all the field’s like sport’s,Business or whatsoever.
Who is your inspiration in trading ? Do we really have inspirational figures in trading business ?
Well, I don’t know any personalities. Too new, plus have been studying too much for the system, than reading up on those who are well known in the business.
But, when I think of being inspired, through all the baby pip stories here, I realize when I read of those who have made a living at this, I have such respect, and admiration, even enviousness.
[QUOTE=“gs8888;546586”]To Nikita and all the member’s in here… Like we have personalities for inspiration in almost all the field’s like sport’s,Business or whatsoever. Who is your inspiration in trading ? Do we really have inspirational figures in trading business ?[/QUOTE]
Well I have stopped reading articles, books and writings that we more than often come across on mainstream media and stuff. Articles about this or that millionaire or billionaire and how they made it big.
If we pay attention, the articles usually portray and insinuate that the subject matter " worked hard, long hours, was a person who had deep insights, was a very courageous person. and blah blah blah".
And in between those lines we will be informed of the current net worth of the individual, his red ferrari and probably his newest celebrity girl friend. And there will be “facts” about how the person pulled off this or that and made xxx amount of profit.
Reading these sort of articles will give you the impression that there are those among us who do get a lucky break once in their lifetime and they grabbed it with both hands.
Or it tells us without saying directly that these people are like midas. They really have a gift.
The reason why I dont want to read these sort of articles is it does not tell you the truth.
It sort of portrays that living a life of dreams is not something that everyone will get a chance at.
I prefer to read an article about how a person tried doing something, failed, fell flat on his back, picked himself up again immediately and tried again.
I dont want the details of how someone made it that one time.
Making it on that final try is what will happen to each and everyone of us.
It was the final try, because we made it. What I want to read is the many tries before that final try.
That many failures.
I like to read about the nine times they failed and how they got up and gave everything they had each and every time.
I read about how they were down and out, maybe without a meal or a roof over their head, but they did not settle for what came their way, making the best of it.
They never let circumstances beat them.
The truth is they succeeded because they never did let go of that hunger, my friends.
Reading these sort articles tells us how it really is. It tells us the truth that success has nothing to do with being lucky or knowing the right people.
It tells us that the reality is, the person who made it big had most often than not, lost so many times before making it.
Not all of us were born with a swiss bank account as a trust fund. For the rest of us, failing, falling and doing it all over again is the only way.
When I read articles like this, I suddenly find the challenges and set backs I have faced and I might face again does not affect me in a way that makes me think of giving it up, doing the sensible thing, opt to play it safe and wait for the monthly pay check for the sense of false security.
It does not let the circumstances of life creep in with negativity.
These is where I find my inspiration.
That is very important in learning how to trade.
We all would personally know more people who gave up on learning how to trade and have moved on with their life.
The longer we been in this field, the more we know.
The numbers will outstrip those who do well trading.
Don’t take me wrongly here, but chances are, ten or fifteen years down the lane, if we get a chance to catch up with some of them, we will see that those who moved on might be doing ok, some might even be fine.
But they will not have done much or gone far in whatever it is they choose to do after leaving trading.
In a sense they are, in the scheme of things, still in the same ballpark.
They would not have accomplished what they wanted to, when they started trading.
Instead, they would have now changed their aspirations and dreams, adjusting it to reality.
Do you know why they downsized their dreams?
Its not because they gave up trading and chose some other field.
Its because they gave up and quit.
Starting a business, opening a store, starting a charity or even planting corn has the same percentage of false start ups and failures as trading does.
The number is higher, And its a heck of a lot more expansive to fail on anything other than trading.
But why do we see far more people drift in an out of trading, many than talking about how it is impossible to make money out of the markets and its all a scam?
In the real world, these kind of people would never go into a business or any other self venture.
But they flock to trade.
Why is that so?
Its because we need nearly zero overheads and no documentation or licensing or any sort of real effort to start trading, it invites all who want to make it big but do not want to or have the heart or stomach to experience failing while trying to do so.
The numbers match those who have dreamt of starting their own business, but never got through the first step because of the effort involved in doing so.
Trading just requires you have a pc and an internet connection.
Than they find that they keep loosing their micros and they figure that it involves alot of work. So some quit.
The ones who stay will than find out that to make it trading, in any sense of the word, would require them to taste failures now and again.
The hall just lost 75% of its audience folks.
The remainder quit when they realise that in the last part they have to probably do one of the toughest thing known to man, to face his own failures, weaknesses and shortcomings, admit to it and beat it.
Let me tell you, its much much much more easier to just quit and tell ourselves trading is not easy.
When we take the easy way out, give up and quit on one thing, than that is who we are, who we chose to be, and we will see that we will do the same in all other areas of our life’s.
Ever wondered if this is for you, especially when your account called margin again?
I have said this before, that I believe trading is not for every one.
I still believe its true.
Why is it so?
Because its the easiest thing to quit.
Its because its much more easier to call it quits trading than a real business where you have invested big amounts of cash, and most people are actually in debt because of a business they had started.
Calling it quits will sink them deeper than calling it quits trading.
That is what makes the number of people who learn how to trade well very very very few.
Not because trading is hard or something so out of this world. Its because its the easiest thing to quit doing.
Just close shop, and you wont even need to dispose off your furnitures or return the store key.
So I keep myself close to reality by reading stories of how tough it really was for those who made it.
The story below is a typical story that gives me inspiration.
I dont know how true this story is, but I read about one famous american actor who had to sell the only thing he had with him for a few dollars, outside a liquor store.
He really really wanted to act in the movies.
He was on the streets because he kept trying and kept knocking on doors, despite being rejected each and every time.
And how bad was his circumstances?
Well, he sold his dog for 25 dollars because he could no longer feed the only thing he had with him, his best friend.
He did hit it, and he hit it big.
And to his credit, he went back to that liquor store and waited for days until he found he person he sold his dog to, and he bought his dog back.
Find things that gives you strength.
True strength is rarely in the things that shine or glitter.
Its around us, in the very mundane and ordinary things.
Do not loose your dreams and your aspirations because its the easiest thing to do in life.
To quit.
Sorry for the long rambling. I am trying to pass time till London Opening!
EurGbp.
Been looking at this for about two weeks now. Made some pips trading our normal way.
Im monitoring this for a good swing position.
So far this is what I see.
Weekly
The bottom grey line is the bottom of the range area, or previous low.
The red line, todays price is the top of the range area.
DTF
And this is what I would like it to do.
The pink box is the SL and the entry ideally would be 0.8400. SL is about 112 pips.
I will see if I can enter a trade using our normal method at some point, if one presents itself and hold it for a good swing upwards, breaking away from the traditional intraday trading malady of not holding on to a good set up.
AudJpy Up swing.?
Im watching Eur/Jpy, with the level of 131.64
Also Usd/Jpy, with 96.88
It just seems like somethings gonna happen.
I see what your saying Nikita, on the 1hr time frame.
But, man, lately it seems like the yen is gonna take everyone out, due to the usd instability.
Well, for the first time, I’m waiting.
Thanks to you.
I’m walking with ya.
[QUOTE=“Nikitafx”]
I prefer to read an article about how a person tried doing something, failed, fell flat on his back, picked himself up again immediately and tried again.
Hi Nikita your words is my life cycle.
Every time life slap on my face and make me very weak but it never break me, I will try harder then last time every time I fell.
Like trading I suffer lot,lot,lot and lot… and lost everything I made during my 10 years of working life. But onething I just drilled in my head that if I want to get everything back I should learn trading and this is the only way I can make it back because this is the way I lost everything.
I am learning everyday of life that I will never forget.
Really thanks for your words Nikita.
Thanks for the reply and it’s really a eye opening post…
Reminds me of this quote…
“I don’t measure a man’s success by how high he climbs but how high he bounces when he hits bottom. ”
Anyone here know whats happening with The United States monetary issue?
I have stopped watching for news release while trading, but there seems to be a lot of chatter about his going on.
Anyone knows if it will affect the markets?
Anytime the USA is involved in the economic front, there is always movement on the USD pairs.
good afternoon Nikitafx,
could you please explain on these two statements? 1. If yesterday was a buy, then today is a buy; 2. If yesterday was a sell then today is a sell, please? does this mean that we look at the previous candle on a D TF to determine whether it is a buy or sell ka?
[QUOTE=“Aretes;547363”]good afternoon Nikitafx, could you please explain on these two statements? 1. If yesterday was a buy, then today is a buy; 2. If yesterday was a sell then today is a sell, please? does this mean that we look at the previous candle on a D TF to determine whether it is a buy or sell ka?[/QUOTE]
Correct. It just means price tends to trend in one direction for a given time period.
Trade with the trend not against it.
Most intraday traders loose money by missing the big moves.
The big moves always follow the bias or trend.
Easy way to see it is watch what previous candle did.
That is the general idea.
There is a host of other conditions to be met.
The charts show that a small reversal on USD pairs likely.
But everything is been ranging at where it currently is.
If the shutdown impact spills over to the markets, than I think prices will hit a higher high than where it is now.
Only thing is no one knows if or how that spill over will happen.