I just hope when he “decided to call it quits”, it is because his trading plan requires him to do it and not because he feels like it…If not, he may lose the 160 pips or more soon.

I feel stressful when trading…

Ever heard the phrase “True traders are emotionless when they are trading”?

I am looking for a super strategy…

I am afraid he is going to be disappointed. Successful traders work with strategies that give 40%-60% success rate. It is like flipping a coin…

Which trading course is the best?

What does best mean? That it has a super strategy? Or that it will make us a successful trader overnight?

Sigh…I should have entered here…

This statement has some element of disappointment in it. Successful traders trade emotionlessly, don’t they? I also came to understand that successful traders look beyond hindsight. They don’t lament on what has taken place but anticipates what is going to come. Market has abundant opportunities.

It is very exciting…My heart follow the prices when I see the prices tick up and now…

Getting emotional here again…

My last 5 trades are all winning trades! This strategy is good!

He could lose his next 10 trades! Anything can happen! 5 trades isn’t enough to tell anything!

Just some weekend ramblings…

Oh, also to share…I catched the sneak preview of the Thai show “4Bia” with my wife. I am scared out of my wits!

(Picture by gezelle)

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(After a while…)

jmot: Breakout confirmed. Making entry now. Wait…oh dear, drew the range wrongly…sh*t!  No choice…got to abort the trade according to trading plan.

jmot-angel: Great job, jmot, you managed to stick to your trading plan! The market will always be there. There will always be a next time. It is just not your trade. Discipline is very important in trading. When you are not in the market, your capital is safe and you are already winning…

jmot-devil: C’mon! You waited for 3 whole days for this trade man! Just make an entry. You could wait another 3 days for this type of opportunity! And what’s more, your next trade may be a loss! According to your usual profit target, you will just make 10 pips lesser. The setup is perfect. USD/JPY will definitely go your way! This will add another 60 pips to your results this month! Your wife will be so proud of you! In this way, you can buffer for the next loss, because you’d never know when will it come… 

jmot did not take the trade. He treated it as a penalty for his mistake.

(USD/JPY DID reach his usual profit target. To spike him even further, USD/JPY turned down immediately after hitting his “profit target”)

Struggle with oneself. All in a day’s of trading.

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Hear from the man who really didn’t have much time. Carnegie Mellon Professor Randy Pausch was diagnosed with cancer and was told that he only had 3-6 months to live. He chose to accept the fact and lived his remaining life to the fullest. He continued to inspire many through his “Last Lecture“. I was especially inspired by the lecture he gave at the University of Virginia on Time Management. Live everyday as if you would die tomorrow? Hear the practical tips from the inspirational professor.

He passed away on 25 July 2008

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Trading - what else? For the celebration month of July, I have chalked up a healthy 257 pips of profits. Ok, I am 43 pips away from my target of 300 pips. Mainly due to a bit of overtrading But it is good enough, at personal level. I am getting myself comfortable with the 1 hour charts and blending it into my lifestyle. Also started to monitor the quality of my trades and soundness of my trading plan with the tips I picked up from Ray Barros.

I have also spent some time to give the blog a facelift Hope to have a layout that is clean and contemporary. I welcome any suggestion to improve the blog! Meanwhile, have fun trading!

Popularity: 7% [?]

But then… market condition changes. The US stock market has been experiencing bull run till recently. Hope that he continues to trade and make money and be transparent about his trading…

Mr B is a former bank/professional trader in a well-established financial institution for over 20 years!

But then… many professional traders who had good trading results do not get the same good results when they become retail traders. Professional traders worked with institutional-level rules and regulations. Retail traders only have ourselves and they would find themselves grappling with their own discipline. Professional traders have all the most expensive trading stations, equipment, analysis software and newsfeeds, because they are provided by the institutions. Retail traders don’t have such a luxury. Professional traders trade in a group. They are supported by analysts for different markets and maybe by other professional traders. Retails traders are a lonely bunch. Furthermore, when Mr B says he is a professional trader who worked in a bank, he may not be really “trading” like what we think he does. There are positions in banks such as quantitative (quant) traders that derive complex algorithms with expensive software to trade the market. So not too sure if this experience is relevant to retail trading…

Mr C conducts course for professional traders

But then… there is the million dollar question: if one can make lots of money from trading, then why does he/she still want to waste time teaching? Clicking a button or two to execute the trades certainly beats conducting 3-5 day courses, 8-10 hours a day, and supporting and emailing students everyday? Passion? Sharing? Out of good will? At such an extravagant course fee? Then again, successful professional traders may not be successful retail traders

Mr D manages investment funds

But then… managing funds require different trading strategies than that use for retail trading. successful fund managers may not be successful retail trader too right? cos retail traders dont have the capital to adopt fund management strategies…

Popularity: 9% [?]