Thank you Almas… 
Good morning from Indonesia, Traders 
If you have chart on your own, you know by now that my moved SL just been hit. Still gaining about 1/4 from what I aimed for though.
Alhamdulillah, at least I made a right decision to move that SL, right? 
Real, honest Traders don’t just show you peachy results. This is what real trading looks like folks! Some time you loose, some time you win, and some time you win but not as you targeted, hehe…
As you can see in my chart, Price is trapped again this morning between SMA 50 & SMA 200. I learned my lesson from the other day. So, I won’t give you guys signal for today, okay. A matter of fact, my calculations of previous OHLCs also give me recommendation not to place a trade.
I might be wrong, If I do, I don’t mind to admit it here. But that’s what trading is all about. You play with probability. In post #1, I committed to share only high-probability setup. Sadly, today’s Price Action doesn’t give us that. But fortunately, we can have a day off from trading now. Go to the gym, read a good book in a cozy cafe, etc. It’s time to enjoy the day! :59:
Have a nice day all! :57:
[B]ANNOUNCEMENT[/B]
Dear MT4 Traders,
The platform’s [B]new build 600[/B] has already been launched and automatically updated to MT4 in our PCs. I suggest you google it to learn WHAT’S NEW, so you could anticipate and take benefits from it.
Cheers :57::44:,
Wibie_G
Hi Smurf, sorry, I didn’t notice your post until just now…
As I posted recently price didn’t hit our TP,…
Hope your account is alright now…?
hi Wibie, I was not taking any position yet due to I wish to learn more sir. I am reading the School sessions from babypips which is great, besides that is there anything I can learn so at the end I can have the same experience like you? 
Sure thing Smurf, but [U]don’t get paralysis by analysis[/U] like when I started, okay? :22:Those knowledge are general knowledge that 90% of them you won’t use in daily trading activities. In other words, they may give you satisfaction for knowledge, but not financial gain at the end of the day. Unless of course, your intention is not to gain money from trading.
The essentials in a typical trading activity are:
You need to know the how-toes of your trading platform in the back of your head, like how to open a trade, etc. You need to pick the time frame and the trading system that are right for your style and circumstances, and stick with them. You need to record your performances, including your feelings when taking a trading action.
All of those activities can be done via your Demo Account first, either checking past movements (i.e. back testing) or testing your system while the price still move (i.e. forward testing). Once you’re okay with your practices, time to make real money with real account.
Cheers… :44:
Thank you Wibie, you mentioned about to understand about the trading platform but how to decide enter or exit position? Should we have some indicators or can you recommend me which indicators I should stick with?
I read about Oscilator, RSI and many others but your prediction is always with OP, TP and SL, how do you can decide this?
Indicators are just Tools, tactical necessities, Smurf… You need to have a broader perspective, which Traders call ‘Trading Systems’… The System of your choice should dictate your OP, SL and TP… Indicators usually are part of that system… Indicators Trader are famously called ‘Mechanical Traders’; they’ve been in the market for as long as the market it self i think… But there is also a growing School of Thought among Traders named ‘Price Action Traders’ who make their decision based on the formations and patterns of price candles only… They practically don’t use indicators at all…
In all honesty, I used to be a mechanical trader my self… But it’s just too demanding for me time wise, in regard to my circumstances… My method of trading now is using JacksonZones Method (I stated this in post #1). It is based on a study of price-action probabilities using advanced statistical methods… That’s all I can say about my system… :45:
If you wish to have your own system you could find free systems in one of thread groups here at babypips forum. Or you could google for ‘forex strategies’ or ‘forex trading systems’ keywords. You’ll find good hub websites that provide hundreds of freely-shared strategies for you as well… I suggest you to utilize them as your [B][U]Inspiration[/U][/B] only… Meaning, at the end of the day, traders would trade using the system that she/he believes in, right? What better way to do that other than developing your own system at the pair and the time frame of your choosing? But of course you need to back tests and forward tests it first extensively. That requires weeks and months of testing… If your system gives you 60-80% winning ratio and more than 1:1 risk reward ratio, you’re already on your way of making consistent income… It’s not an easy thing to do… If it is, everybody would be filthy rich via forex, right…? But nothing worthwhile comes easy. Successful trading requires passion, commitment and endurance just like any other business :50:
In addition, please beware of paying trading systems. New traders tend to be easily seduced by the marketing lures the sellers offer them, because they want shortcuts and quick money. I know I did. Paying systems that you see in thousands of websites have [B]Repainting[/B] issue and [B]Cherry Picking[/B] issue.
Based on my experiences, most of them are rip offs because their proprietary indicators tend to [B]repaint[/B]. Meaning, their indicators’ signals changed moments later when price moves to the opposite direction of the signals)… If a signal from an indicator first gives you a buy signal, then–before hitting your TP–the same signal changed to a sell signal due to change in price movement, would you bet your hard-earned money using it in your trading?
In their websites, they would also typically display charts that show you how great their systems are. Without actually stating it, they basically tell you that they have a ‘Holy Grail’ system that can never lose… This cunning tactic is called [B]cherry picking[/B] where they only show you their good results to impress you… But when you test it your self in your chart, you’ll find their many flaws soon enough…
Those are some insights I could share with you and other viewers here, in addition to your questions… Do your own research, have your own system, enjoy your trading learning and journey…
Cheers :57:
NB: I’m not sure I can share links of my own favorite free resources for strategies without violating forums rule here. If the Admin read this, please give your clarification on the same…
Greetings…
[U]Bottom line[/U]:
I won’t trade with my real money today. Only with paper money (i.e. demo account)… Reasons are in picture below…
Cheers and have a nice day :57:
Greetings, Plasticbird… :59:
Welcome to my humble thread…
Resending post #110 (picture error)
Bottom line:
I won’t trade with my real money today. Only with paper money (i.e. demo account)… Reason is in picture below…
Cheers and have a nice day :57:
WOOOOWWWWW, amazing, you are really a teacher to me hehe. I do understand a little by little from your explanation and I also want to learn to become a good price reader with my own trading system, please share to me how should I start from?
Ups sorry I did not aware of my wrong action, sorry Babypips team, I just want to be polite to others. It’s been great support from Babypips team and I am very very glad to find this website which very kind providing very precious information for beginner like me. :35:
Hi Smurf, glad you notice it… Fyi, my sharing and answering here is a kind of ‘pro bono’ activity… For personal favor like that, kindly just send direct message to my account.
I also suggest you read the complete list of the forum rules here.
Cheers… :44:
Yup my bad thank you sir Wibie for your patient to share your experience with us here
Looks like thingz re going well here?
Sorry to ask Wibie G, but why are you so generous to the people on Babypips? Your signals you share are actually very accurate? Nice to see someone being decent and helping the rest of us out. Would love to know how you work out how to take these trades but understand you do not wish to share it… Fair enough.
Again awesome way of trading by the looks of it I will keep an eye on your thread aswel
I’m honored with your words that are so generous too, Icecube…
In the world of dog eating dog like trading, I suppose what I’m doing here is pretty rare. I’m just a humble person who genuinely believe that man kind can do much better than that.
Cheers… :):44:
Good morning Gold Diggers,
If we follow our 48-hours discipline, the demo trade yesterday–though very choppy and narrow–has NOT LOSS yet… But the Price Action isn’t too convincing either… To give a balanced view, from fundamental perspective, there were 2 High Impact News that gave contradicting signals, making buyers and sellers fighting to win their positions. Hence, the choppy price action occurred yesterday.
I follow Warren Buffet’s 2 rules on my money management: (1) don’t lose your money; and (2) never forget rule no. (1). 
So this will be a trade setup that I would rather avoid in the future.
Move along to today’s trade setup.
In past few days, it seems to me that Price Action has just been building up momentum for a high jump. We can observe that by seeing Triangle pattern formed in D1 time frame. (See picture below). So, I’m going with Buy Stop order today. But, just on the save side–like I always do, I would only trade if Price Action moves to my the trigger level of OP - 200 pips. I suggest you do too.
Cheers… :44:
Today’s Signal ( 07/02/14 )
Valid until 06.00 AM two trading days from now. (GMT+7)
BUY STOP
OP @ $ 1257.86
TP @ $ 1270.64
SL @ $ 1252.05
GPpL @ $ 1,278.00
GLpL @ $ 581.00
RRR: 1 : 2.20
NOTE :
• Glossary:
- OP: Open Position
- TP: Take Profit
- SL: Stop Loss
- GPpL: Gross Profit per Lot
- GLpL: Gross Loss per Lot
- RRR: Risk Reward Ratio
• For first timers, please read my post #1 here to see the information about me, my signals, and my disciplines. For regulars, kindly also check it every now and then as a reminder. I may also have made a number of revisions after.
• Please read the DISCLAIMER below.
• To protect capital, it is advisable to trade only with the STOP Pending Order, with tactic as follow:
(a) Current Price is AT LEAST 200 pips BELOW the OP (for a Buy Stop Order); or
(b) Current Price is AT LEAST 200 pips ABOVE the OP (for a Sell Stop Order)
• Put all three price levels in AlertFx.com for convenience. (Registration is FREE)
• Good or bad past performances of the past are no guarantee of good or bad performances of the present and the future.
• Risk LESS THAN 3 % of Today’s Equity. Place trading at the Lot Size that represents that Risk level.
DISCLAIMER : Transactions in Forex Trading have risk and have the same potential between losses and gains. All of your transactions are fully your own responsibilities as a Trader and / or the Owner of your Capital.
Have a nice day. :):44: