Reflection on the month of September

Late in August, I decided to increase my pip value as I noted that I was consistently profitable in my trades. Right after I did that, I had a big blow up and went on a losing streak for 2 weeks. It was the toughest 2 week in my trading journey thus far. I tried everything I know to get out of it: went back to demo, took less trade....etc but whatever I do, I couldn't stop the losing.

Nothing changed really - I still have the knowledge - just my mind playing tricks on me. It was full of fear.

In the end, I took a holiday, went back to demo , traded a longer time frame and then finally back to trade small pipvalues.

The last 2 weeks has been good again. Trades were consistently getting better, my confidence got back and most importantly I am having fun again trading.

I want to record what I did differently here:

I started to measure every components in my trade. My previous mistake was to think that the main component of a taking a trade is in my analysis. But that's far from the truth. Having the right analysis alone can still give you much losses if your entry is a bad one. So now, I record these in my journal:

• Analysis (Right or wrong?)
  
• Timing (-XXX for candles early +XXX for candles too late and +0 for exact candle, I try to get +0)
  
• Risk/Reward (At least 1:2)
  
• Percentage of the move I caught
  
• Exit (-3 for SL, -2 for loss, early exit with valid signal turn, -1 for chickening out but no signal turn, 0 for BE, 1 for profit but chickening out in an early exit with no signal turn, 2 for manually taking profit as price just miss TP, 3 TP hit)

With this system, I am able to measure my trading psychology and then put effort to work on them. It creates more focus on my part to work on a specific area.

I found out that analysis is my strong suit. I'm right 80-90% of the time but my entry timing is bad. I started 2 weeks ago at 10 to 6 candles too early - overtrading and trigger happy! Risk/Rewards is also less than desirable. Funny, when I take care of my entry timing, my risk/reward also got much better... much much better.

You know after 2 weeks, I know now that if I take care of the components, ESPECIALLY money management, the pips takes care of themselves.

I have a day with 30% wins and was still in profit. It's something to read it about being profitable with less than 50% win, it's REALLY something for me to feel it. My timing has also improved considerable.

It's fun, scary and brutally honest for me, myself and I when I measure myself like that. It certainly lends more clarity... and I was wondering why I didn't do it earlier. A word came up - FEAR. I was afraid to find something so ugly in me that will freak the heck out of me. I was fearful of trying new things because I may just lose money? (not that I wasn't already)

Fear has a way to prevent me from learning new things.

But really this exercise has taught me to face them squarely. Love myself more. Now that 2 weeks is over, learning more about myself really isn't that bad... in fact my trades shows that the love is paying off. In fact, I need to add, that God loves who I am already no matter how ugly I am.

(yes there's an ugly betty in all of us!)

26th September 2006

I was stalking this trade for some time. After I got back from gym, I was tired, sweating and hungry. So while I was busy doing nothing it got away. On hindsight I should have placed a pending order.

I thought however to put this trade here so that I remember what a 'jinhar' trade with the trend feels and looks like. So here it is.

Pending order trades 25th Sept 2008

Felt so awesome. Came back from the gym and discovered that one of the trades hit target!

Actually both trades hit target but I chickened out on the second :( and my pending order was triggered on the wrong side.

In synch with the EU night

Wasn't trading this night, just wanted to get back into the swing of things. First time in ages that I have picked 3 trades in a row that worked!

My first pending order trade

Unfortunately.. I missed it by 1 pip. Here's the trade in pictures.

Jinhar reviewing my trades pt1

(My poor entries for short are marked by the vertical lines)

16:58:59 [Jinhar] it was juz against the trend..

16:59:18 [Jinhar] u waited for the stoch to drop .. but i tld u too watch it on 4hr.

16:59:34 [ericsatch] ahhh

17:00:05 [ericsatch] at that time four hour the stochs were braiding but adx were clearly up.

17:00:21 [Jinhar] On 4hr stoch neva came to a point wer u can short

17:00:26 [Jinhar] dey wer always long.

17:00:46 [ericsatch] ic

17:01:24 [ericsatch] ok Ill need to wait for the higher tf to confirm the move too...

17:01:40 [Jinhar] Wen ur r in a strong trend yea

17:02:00 [Jinhar] I tld u wen u counter trend u need to chk everythng twice ..

17:02:06 [ericsatch] when the higher tf is in a range then i can just follow the range?

17:02:29 [Jinhar] See .. wen u wanna short in downtrend u dont need to chk

17:02:31 [ericsatch] yeah. when u told me htat i already took the first one.

17:02:35 [ericsatch] ic

17:02:39 [ericsatch] LOL

17:02:40 [ericsatch] i get it!

17:02:47 [Jinhar] wen u wanna go long on uptrend u wont need to chk 3 times

17:02:57 [Jinhar] but wen u wanna short on uptrend .. datz practically .

17:03:09 [Jinhar] u need to chk 10 times.

17:03:21 [ericsatch] is that right?

17:03:55 [Jinhar] Lon i would go in when stoch started goin up

17:04:16 [Jinhar] ur long is right ..

17:05:04 [ericsatch] like there?

17:05:12 [Jinhar] yea

17:05:20 [Jinhar] datz momentum long ..

17:05:37 [Jinhar] u goin wid da trend .. after the trend is established.

17:05:42 [ericsatch] ok

17:05:47 [ericsatch] will do that today

17:05:57 [Jinhar] Kool

17:06:08 [ericsatch] so if i go in at the vertical line my SL is there?

17:06:22 [Jinhar] ya

17:06:34 [ericsatch] that's about 40pips

17:06:51 [Jinhar] U go in at a vertical line .. at the loew

17:06:55 [Jinhar] not on the top

17:07:08 [Jinhar] and den att 15-20 pips to the loe

17:07:16 [ericsatch] so when it was nice red candle, you long at that point?

17:07:26 [Jinhar] Yea ..

17:07:29 [Jinhar] Practicalli

17:07:36 [Jinhar] But wid open eyes u cant do that ..

17:07:47 [Jinhar] datz y u keep pendin orders .

17:08:29 [ericsatch] how do you set pending order to hit the wick?

17:08:47 [Jinhar] a loew is made on a prev bar

17:08:54 [Jinhar] now if stoch is turnin up .

17:09:03 [Jinhar] i will keep pendin at or near the loe..

17:09:14 [Jinhar] so when price again comes down ..

17:09:17 [Jinhar] i will get in .

17:09:29 [Jinhar] and i wont thnk wether it will go further down or no

17:10:03 [ericsatch] ic!

17:10:10 [ericsatch] but if you miss. you miss.

17:10:26 [Jinhar] u get in as close to the loe den

17:10:34 [Jinhar] or u wait for the range to breakout

17:11:47 [ericsatch] thanks. the first trade is the biggest lost of mine

17:12:12 [ericsatch] after that.. the trades got better. timing improved from 6 candles too early to about 1.5 average

17:12:41 [Jinhar] ahh nice .. i sometime go 12 candles earli lol..

17:12:42 [ericsatch] also practiced holding to target. tho i had more losses the wins were clearly bigger now

17:12:59 [ericsatch] 12candles..and it doesn't affect you?

17:13:10 [Jinhar] na .. i have done it so many times ..

17:13:12 [ericsatch] you need a bigger SL then?

17:13:17 [Jinhar] no

17:13:29 [Jinhar] i always get in near high or loews

17:13:35 [ericsatch] because u get in near the low

17:13:53 [Jinhar] i get stopped out 4-5 times doin that .. but i catch hi or loes..

17:14:08 [Jinhar] and once i do i ride emm till the end .

17:14:19 [Jinhar] i took a posi b4 asian start

17:14:34 [Jinhar] whole asian and eur it didnt moved it was in 50-100 pip range

17:14:53 [Jinhar] in us it started movin .. closed it at us end for 459+ pips.

17:15:07 [ericsatch] wow

17:15:10 [Jinhar] u have to wait 20 hrs sometime to trade to work

17:15:20 [ericsatch] ok. i gotta keep that in mind

17:15:42 [ericsatch] you gonna show one of your trades? maybe on the blog?

17:16:05 [Jinhar] I will soon give me sometime ... jus bz wid lotta useless work ..

17:16:20 [Jinhar] gimme a day will do it tomm or later today

17:16:24 [ericsatch] so today's lesson is kinda.. take with the trend.

17:16:30 [ericsatch] ride it to the end..

17:16:33 [Jinhar] always

17:16:43 [ericsatch] so sometimes you see its 200 then it goes back to 50 but you jut stay in

17:17:12 [ericsatch] is that correct?

17:17:30 [Jinhar] i most of time se 150 plus den -2

17:18:03 [Jinhar] but i am not in front of pc .

17:18:09 [Jinhar] i look it laters in da day

17:18:09 [ericsatch] and u just stay in...?

17:18:24 [ericsatch] ok

17:18:29 [Jinhar] i am not here

17:18:38 [Jinhar] i put in my pendin and limit orders

17:18:42 [Jinhar] and go away.

17:19:02 [Jinhar] if i look at charts i always book profs

17:19:02 [Jinhar] wen i c dem

17:19:54 [ericsatch] ic

17:20:10 [ericsatch] i noticed tho, the analysis have about 80% chance of being correct

17:20:21 [Jinhar] ya'

17:20:38 [ericsatch] so.. not i gotta work on what you tell me to. timing, timing, timing and hold to target

17:20:55 [Jinhar] yea wad ur trget is

17:20:58 [Jinhar] and wad ur stop is

17:21:02 [Jinhar] if u get in at loe

17:21:09 [Jinhar] u wil hit ur t

17:21:19 [Jinhar] if u r wid da trend den

17:21:32 [Jinhar] da biggest trades always are counter trends...

17:21:47 [ericsatch] i just got in eu long 1.4866

17:21:54 [ericsatch] are counter trends??????

17:22:00 [ericsatch] you lost me there mate

17:22:26 [Jinhar] yea dey start as countertrend ... and den trend changes and dey bcome trendin trades

17:22:34 [Jinhar] And u ride dem from the start ..

17:22:41 [Jinhar] dey are huge payoff

How to trade ranges by Jinhar - Pt3

19:44:35 [rebuzz] a pitty i saw ur post too late

19:44:49 [Jinhar] i didnt predict it .. it was juz .. ranges fibs and ewaves

19:45:25 [Jinhar] Nothin else .. i wasnt sure .. i juz saw it was frmin a rev ..and juz trin elliot theory

19:46:32 [rebuzz] great analysis anyways, learned a lot of it

19:46:47 [Jinhar] Thnks ..

19:47:24 [Jinhar] it was a novice .. analysis .. juz usin trends .. i didnt even put up any fibs on it Lol

19:47:59 [rebuzz] hehe sometime its better to see a clearer chart, makes things more obvious

19:48:22 [Jinhar] yea i still trade on a plain chart .. wid juz 2-4 trendlines 19:48:26 [Jinhar] Nothin beats dat.
19:49:47 [rebuzz] gonna get a coffee, be back in 0 or so

19:49:49 [rebuzz] *10

19:49:53 [Jinhar] Okies

19:49:58 [rebuzz] 0 would be really fast ? ?

19:50:30 [Jinhar] REALLI

19:54:17 [rebuzz] re

19:54:25 [rebuzz] coffee in the makin ^^

19:54:42 [Jinhar] Nice'

19:55:38 [Jinhar] Some news hit out ?

19:55:50 [Jinhar] Jus moves 50 pips ..

19:56:00 [Jinhar] js moved*

19:56:18 [rebuzz] can u give me an advice on how to predict when a trendline will hold jinhar? i have trouble pullin the trigger when a trendline is reached - i want to wait and see if it holds, and then it often goes so fast i feel im to late to enter 19:56:47 [Jinhar] Drw on higer tf

19:57:02 [rebuzz] nothin i know of jinhar (news)

19:57:18 [Jinhar] 100 pips . in 2 candles

19:57:51 [rebuzz] what u mean by draw on higher tf?

19:58:24 [Jinhar] Trendlines .. will worn 100 percent of the time on higer .. tf . if u using small tf .. many times . it wont .. wrk

19:59:00 [rebuzz] higher tf = 4h/daily/weekly?

19:59:08 [Jinhar] 30-60

19:59:28 [Jinhar] Other then tick .. and 5mins

19:59:37 [Jinhar] Wadeva is ur higher tf

19:59:39 [Jinhar] Draw on it

19:59:47 [Jinhar] 30 mins . 60 4hr daily

19:59:56 [Jinhar] doesnt matter . but it shld b ur higher tf .

20:00:11 [Jinhar] IF ur news tradin .. Den on ur loer tf .. as bk teaches

20:01:17 [rebuzz] ah i see, thx

20:01:58 [Jinhar] I got in my short on gj based on 30 min trendline onli

20:03:09 [rebuzz] could u upload a chart please?

20:04:10 [Jinhar] dis is a 5 min on ej

20:04:12 [ericsatch] hey all, back frmo dinner

20:04:21 [Jinhar] i have got a channel

20:04:24 [ericsatch] jinhar, you amaze me at your trades ?

20:04:26 [Jinhar] from a 30 min

20:04:54 [Jinhar] Dey r simple .. traders eric

20:04:58 [Jinhar] Trades*

20:06:11 [Jinhar] Rebuzz wad tf do u trade?

20:06:20 [rebuzz] 15m/1h at the moment

20:06:31 [Jinhar] k

20:06:36 [Jinhar] hold i will draw it for u on dat

20:06:38 [Jinhar] whch pair ?

20:06:51 [rebuzz] gj

20:07:41 [PipHunter25] gm all...Jinhar do you also use the Stoch also?

20:10:59 [Jinhar] Rebuzz blue lines are from 60 min 20:11:11 [Jinhar] Dey r da 1 to follow .. while black.. is wads goin on 15 min 20:11:17 [Jinhar] black .. is not imp as blue
20:11:52 [Jinhar] i have juz used .. some extra paddin .. as der are 2 diff .. tops on 15 mins

20:12:18 [rebuzz] thx jinhar

20:12:18 [ericsatch] how would u trade it then?

20:12:21 [Jinhar] np

20:12:41 [ericsatch] so short or long when the top/botton blue line hits?

20:13:55 [Jinhar] yea till it doesnt break the blue channel on the upside .. we are on the down trend

20:14:11 [Jinhar] black it will break within few hrs or few candles.. its juz tdays range 20:14:19 [Jinhar] while the blue 1 is for few days now 20:14:48 [Jinhar] Eric it wont hit the top or the bottom 20:14:58 [Jinhar] Most of the time it will turn b4 it

20:15:04 [ericsatch] ic

20:15:10 [Jinhar] so u need ur indic to tell u wer da rev is comin 20:15:18 [ericsatch] how do you nkow when to go in then?.. ic 20:15:19 [Jinhar] But dis method is beautiful for rev

20:15:33 [PipHunter25] Jinhar how can I save a screen shot of the chart?

20:15:34 [Jinhar] the 2 circels at the bottom 20:15:47 [Jinhar] at dat time .. stoch will have completed der downside 20:15:56 [Jinhar] or oscill will ahve change posi 20:15:58 [Jinhar] cci 20:15:59 [Jinhar] macd 20:16:01 [Jinhar] wadeva u use 20:16:16 [Jinhar] Ders 20:16:22 [Jinhar] A blue floppi

20:16:24 [ericsatch] ok jinhar, i feel like flying to india and sit beside you for awhile

20:16:25 [ericsatch] hahaha

20:16:27 [Jinhar] in the toolbar

20:16:34 [Jinhar] hahah .. Eric

20:16:35 [PipHunter25] So the trend lines are the 15m and 60m?

20:16:57 [Jinhar] Blue is 60 mins and black 15

20:17:01 [Jinhar] juz for rebuz

20:18:36 [PipHunter25] You normally use which tf?

20:18:43 [Jinhar] 30 min

20:20:09 [ericsatch] where do u place your stops jinhar?

20:20:26 [Jinhar] I place over da high

20:20:42 [PipHunter25] so indeed of 2 trendlines for 2 tf you would only have one set of trendlines?

20:20:42 [Jinhar] on da red line 20:20:58 [Jinhar] Yea i gen onli have trends from 30 min 20:21:08 [Jinhar] i down use loer tf trends 20:21:19 [Jinhar] dey are no use to me 20:21:25 [Jinhar] i dont*
20:21:27 [PipHunter25] can someone tell me how this chart can be saved??

20:21:42 [Jinhar] Ders a blue floppi on the tool bars

20:22:18 [PipHunter25] ok thx..

20:22:23 [Jinhar] Nprbs

20:22:39 [ericsatch] ahh. thanks jinhar. trying to work it out man. it;s like when you get it.. it's easy. like swimming or biking...

20:22:51 [Jinhar] hehe .. eric is veri easi .. 20:22:56 [Jinhar] datz y is so tough 20:23:12 [Jinhar] coz u wont get confidence to take it .. 20:23:17 [Jinhar] as its juz 2 lines 20:23:17 [Jinhar] tellin u 20:23:21 [Jinhar] nothin else

20:23:24 [PipHunter25] Yes thanks alot for the info Jinhar ?

20:23:33 [ericsatch] heheh yeah

20:23:43 [rebuzz] ye, great stuff jinhar, thx man

20:23:46 [Jinhar] We need 10-20 indic to supprt us ..

20:23:48 [ericsatch] how about looking at eu or gu now jinhar, if you ahve time..

20:23:51 [Jinhar] den we pull da trigga,

20:23:54 [Jinhar] Sure

20:23:56 [Jinhar] whch u want ?

20:24:01 [ericsatch] eu

20:24:03 [ericsatch] since news is coming ?

20:24:12 [Jinhar] Eu

20:24:15 [Jinhar] okies and wad tf

20:24:17 [Jinhar] u tradin?

20:24:40 [Jinhar] Timeframe?

20:24:57 [ericsatch] 5tf and 30tf?

20:25:08 [Jinhar] Okies

20:25:32 [ericsatch] lol i wish i can record this

20:25:47 [PipHunter25] you can Eric

20:26:00 [ericsatch] not without the mic on.. i think

20:26:06 [ericsatch] how to do it piphunter?

20:26:24 [PipHunter25] copy and paste the text and use the floppy above to take a screen shot.

20:26:39 [PipHunter25] save to your harddrive

20:26:47 [ericsatch] ahh that's what i intend to do ?

20:27:02 [ericsatch] just tot u nkew how to record it like how we do for class

20:27:05 [PipHunter25] really good stuff thx to Jinhar

20:27:28 [Jinhar] again blak is 5 mins and blue is 30mins 20:27:38 [Jinhar] u have got 3 tops here 20:28:31 [Jinhar] Its juz rangin beautifulli 20:28:57 [Jinhar] 4 beautiful range trades here 20:29:05 [Jinhar] which all i wld have taken if i was tradin dis ..

20:29:35 [Jinhar] more then 200 pips .. in 10 hrs 20:29:42 [Jinhar] Simple tradin

20:29:50 [PipHunter25] 3 tops are good right? Do you only require 2 touches?

20:29:57 [Jinhar] No

20:30:01 [Jinhar] i juz tld u its 3 tops

20:30:10 [Jinhar] it doesnt matter.

20:30:19 [PipHunter25] got it

20:30:26 [ericsatch] im trying to see this on my mt4

20:30:41 [Jinhar] Clear ur chart 1st

20:30:43 [Jinhar] den u will c

20:31:22 [Jinhar] Sowwie . for more trendlines .. juz i had it from previ and dey wer still holdin

20:31:26 [Jinhar] so dey are still imp

20:31:36 [ericsatch] np jinhar

20:31:39 [ericsatch] i have lots of TL myself

20:31:50 [ericsatch] but like yousay.. i dare not trade the TL because... it's just 2 lines

20:31:51 [ericsatch] lol

20:31:57 [Jinhar] Lol

20:31:58 [ericsatch] but i do have most of them on me charts

20:32:11 [Jinhar] Its .. amazin how juz 2 lines .. can make pips 20:32:18 [Jinhar] take for ex dis chart onli 20:32:23 [Jinhar] 4 trades in 10 hrs more then 200 pips 20:32:26 [Jinhar] easi tradin 20:32:39 [Jinhar] Short the top of the range .. go long at bottom 20:32:51 [Jinhar] wanna c update chart

20:32:54 [Jinhar] c da last candle 20:33:49 [ericsatch] yeah 20:34:02 [Jinhar] Tld ya its simple as 1-2

20:34:09 [Jinhar] Short 1 long 2
20:34:22 [ericsatch] say if you miss the top...can u jump ni now and short? 20:34:43 [Jinhar] If u can afford . dis stop and ur system .. says yes

20:34:43 [ericsatch] because really the SS just turned 20:34:44 [Jinhar] u can

20:34:55 [ericsatch] where would ur stop be? here? 20:35:06 [Jinhar] Ur sys .. goin wid u . den short.

20:35:18 [ericsatch] cool

20:37:21 [Jinhar] But trades of dis type will take time 20:37:28 [Jinhar] dont expect quick trades 20:37:35 [ericsatch] yeah. 20:37:41 [ericsatch] about 1hour for a trade 20:37:51 [Jinhar] Sometimes more 20:38:17 [Jinhar] 7 hrs for 2 trade whch i c on my screen

20:38:50 [ericsatch] ic

20:38:54 [ericsatch] how do know when to take out? 20:38:58 [ericsatch] when it hits target? 20:39:02 [Jinhar] yeah 20:39:06 [ericsatch] or when it the indi turns? 20:40:28 [ericsatch] in demo, i shorted eu right here 20:40:39 [ericsatch] 23 pips on it

20:40:43 [ericsatch] you were dead right jinhar 20:40:50 [Jinhar] hhee 20:40:59 [ericsatch] but im not sure when to take it out

20:41:10 [Jinhar] at 4200 20:41:17 [Jinhar] or 4195 20:41:18 [ericsatch] when 5tf changes direction?

20:41:19 [Jinhar] keep a pendin 20:41:22 [Jinhar] No .. 20:41:30 [Jinhar] Juz keep a pendin stop and limit order 20:41:32 [Jinhar] and sleep

20:41:56 [ericsatch] ahh ok

20:42:04 [ericsatch] you know what jinhar, i may just do demo on this until i get it

20:42:05 [ericsatch] haha

20:42:13 [Jinhar] hahaha

20:42:15 [Jinhar] nice nice

20:42:15 [PipHunter25] Jinhar..does it matter if the signal occurs during a slower time like the Asian session? Do take the trade no matter when it occurs?

20:42:17 [ericsatch] why 4200?

20:42:26 [Jinhar] na it doesnt matter

20:42:29 [Jinhar] u will hit ur t 20:42:35 [Jinhar] within 1 hr .. or 10 hrs 20:42:36 [Jinhar] doesnt matter

20:42:51 [ericsatch] so no need to put it back at BE or +1? 20:43:31 [Jinhar] If u sure price wont retrace bak den put it a be 20:43:36 [Jinhar] i dont use be 20:43:43 [Jinhar] i always get stopped out

20:43:50 [rodhuy] hi jonhar, i am late joining. is this just range trading, sell at top, long at bottom. what indicators do you use to confirm?

20:44:04 [Jinhar] wadeva u find 20:44:06 [Jinhar] osma 20:44:07 [Jinhar] stoch 20:44:10 [Jinhar] oscilla 20:44:11 [Jinhar] macd
20:44:21 [rodhuy] ok cool

20:45:11 [ericsatch] jinhar let me show u

20:45:43 [ericsatch] stay cool and let it hit SL? (it's on demo. so im more calm on this one) 20:46:13 [Jinhar] Let it hit
20:49:30 [ericsatch] thx jinhar

20:50:26 [PipHunter25] yeah thx jinhar!

20:56:08 [ericsatch] so when u scan for trades.. jinhar, you just go through the ranges? 20:56:20 [Jinhar] Ranges 20:56:22 [Jinhar] Channels 20:56:27 [Jinhar] Break outs 20:56:29 [Jinhar] Anythn

20:57:18 [ericsatch] ok thanks jinhar! you make it look easi

20:57:36 [Jinhar] Its easi u juz need to get used to it

20:58:48 [ericsatch] ok

20:58:55 [ericsatch] will demo it until the pips comes rolling i

20:58:58 [ericsatch] in*

20:59:05 [Jinhar] Try it and c

20:59:08 [Jinhar] hw it goes

20:59:27 [ericsatch] i will

20:59:28 [Jinhar] eur again felld down 20:59:31 [ericsatch] yeah 20:59:33 [Jinhar] afta testin the top 20:59:35 [ericsatch] what a ride eh? ? 20:59:36 [Jinhar] tld ya to hold on 20:59:42 [Jinhar] Its will happen many time

21:00:18 [ericsatch] hey jinhar, i saw this video the otherday about this reality hostess who got slapped

21:00:53 [ericsatch] it's an indian talk show... i was just wondering what happened to the host after that!

21:01:20 [Jinhar] i dont knw . i dont watch indian tv sowwie

21:01:53 [rebuzz] hehe this eu trade workin good ?

21:02:20 [ericsatch] np. its just a silly clip!

21:02:28 [Jinhar] hehe okies

21:03:42 [ericsatch] http://www.youtube.com/watch?v=bvDzYj1jB5Y

21:03:48 [ericsatch] tot u may understand the language better ?

21:15:48 [ericsatch] jinhar, if i were to short gu, I should do it here?

21:16:17 [Jinhar] wid stops abv the trendline u can

21:17:12 [ericsatch] ok ? I'll be demo-ing more

21:17:27 [Jinhar] Okies...

21:19:44 [ericsatch] this is fun jinhar

21:19:59 [ericsatch] lol... feel rejuvenated after my break.. and with demo ?

21:20:02 [Jinhar] i knw.

21:20:23 [ericsatch] wow 4200 nearly hit

21:20:26 [ericsatch] can't believe it ?

21:20:51 [Jinhar] Datz da fun part eric

21:21:37 [ericsatch] hit 4200 - padding 21:21:42 [ericsatch] osum 21:21:47 [Jinhar] haha 21:21:49 [Jinhar] now .. cover .. 21:21:56 [Jinhar] If u have multi lots 21:21:56 [ericsatch] cover? 21:21:59 [Jinhar] cover half

21:22:14 [ericsatch] don't understand

21:22:18 [ericsatch] i took out all ?

21:22:24 [Jinhar] if u have 2 lots cover 1 21:22:28 [Jinhar] like dat .. 21:22:34 [Jinhar] u had 2 targets. 21:22:42 [Jinhar] so 1 gets hit take 1 out

21:23:00 [ericsatch] ic 21:23:19 [ericsatch] so 4200 for one. 4182 for second
21:23:27 [Jinhar] yeah

21:23:44 [Luka Bobnar] hi guys waht is going on?

21:23:55 [Jinhar] and increase the stop to .4215 or .. somewad level

21:23:59 [Jinhar] whch is on da fib

21:24:31 [ericsatch] ic

21:24:41 [Jinhar] So u always go home wid nice bag of pips.

21:25:00 [ericsatch] man.. jinhar, that's what im looking for

21:25:14 [Luka Bobnar] I like that Jinhar ?

21:25:26 [Jinhar] hhehe luka .. u bak

21:25:30 [Luka Bobnar] yep

21:25:35 [Luka Bobnar] and trying to catch up

21:25:48 [Luka Bobnar] dow is totaly smashed again

21:25:51 [Jinhar] as always

21:26:21 [Luka Bobnar] its more than 200 points down agan

21:26:36 [Luka Bobnar] and europe stocks are falling like mad too

21:26:41 [Jinhar] its gonna hit all da markets like a virus

21:26:49 [ericsatch] thanks jinhar..

21:26:54 [Jinhar] Nprbs eric

21:26:57 [ericsatch] will see if i can do this consistently 21:27:10 [Jinhar] juz draw ur ranges nicely 21:27:12 [Jinhar] and u will b fine 21:27:19 [Jinhar] use stoch osma .. mas on bks temp

21:27:22 [Jinhar] and u will b even fine

21:27:35 [Luka Bobnar] hehe lol! you got that right

21:28:10 [Jinhar] but luka u cant do anythn .. ppl everiwer . its spread all ova

21:28:29 [Jinhar] its affectin all financial sectors .. and der is no ways out .. until ppl can put it bak .. of der heads

21:28:59 [Luka Bobnar] yes I know when there is panic it's overall panic

21:29:08 [ericsatch] so the trick is to spot the ranges correctly...

21:29:11 [Luka Bobnar] man my platform crashed and now fibs are all messed up

21:29:33 [Jinhar] Sad ... u will have to redraw dem ?

21:30:18 [Luka Bobnar] the fibo levels are messed up! - like where the 161 should be the 261 is and so on

21:30:47 [rodhuy] JIN, JUST TOOK THAT SHORT FROM TOP OF RANGE ON eu AND TOOK 50 PIPS, OUT NOW. DEMO ONLY FRO NOW THO

21:31:02 [Jinhar] hahah nice man nice

21:31:03 [rodhuy] nice

21:31:06 [Jinhar] Keep it up ..

21:31:12 [rodhuy] demo ?!@

21:31:33 [rodhuy] ok is it reversing back up, is this a trade long now? 21:31:33 [Jinhar] >?? 21:31:47 [Jinhar] it hit the bottom and ur indicators wid u 21:31:47 [Jinhar] den ya 21:31:57 [Jinhar] ur indicators .. .shd b der supprtin u

21:32:01 [ericsatch] jin, not yet?

21:32:08 [ericsatch] coz higher tf indicator are still up?

21:32:12 [ericsatch] are still down i mean

21:33:55 [Luka Bobnar] huh Paulson on stage again in 30 mins so expect spikes in all directions ? even left and right

21:33:55 [rodhuy] yes down

21:33:55 [ericsatch] what do you think jinhar?

21:34:17 [PipHunter25] lol Luka ?

21:34:25 [ericsatch] lol

21:34:27 [ericsatch] ok ok!

How to trade ranges by Jinhar - Pt2

24:59:03 [gtk] Do you take range trades sometimes as the price is going up (for a sell) in anticipation of the stochs curling? the GU is what I am watching.

24:59:18 [gtk] its near the top of the range now...

24:59:39 [Jinhar] Lemme c

01:00:44 [Jinhar] No

01:00:47 [gtk] seems like if I wait for the cross, often its just abit too late

01:01:05 [Jinhar] U need to c wether it breaks the range or no

01:01:08 [Jinhar] u can take a short

01:01:31 [Jinhar] but den .. u will have to deal wid more lossin trades.. as many times it juz breaks out

01:01:34 [Jinhar] i take a trade ..

01:01:51 [Jinhar] Sometimes juz bcoz dey dont break a range

01:02:05 [Jinhar] but sometimes .. u get stop out

01:02:36 [gtk] so this would be a fairly high risk trade at the moment...

01:04:41 [Jinhar] b4 the candle close veri risky

01:04:47 [Jinhar] i always wait for a candle closs

01:04:56 [Jinhar] Close*

01:06:09 [gtk] cool, makes alot of sense. I just seem to see the ranges the best right now. but getting stopped out sucks so i am torn still as to how i want to trade.

01:06:33 [gtk] but the candle close remains important. can't start jumping too early as a habit.

01:07:11 [Jinhar] Do the followin and u will b fine

01:07:22 [Jinhar] wen u open a chart

01:07:29 [Jinhar] Look for all the ranges on the chart

01:07:42 [Jinhar] Once u draw dat

01:07:53 [Jinhar] Look at the price

01:08:11 [Jinhar] If price is gettin blocked in btwn .. Den draw a range der .. or a fib

01:08:28 [Jinhar] Once done .. Look always at the price to confirm ur entri or a exit

01:08:39 [Jinhar] once price says yes look at the indicator.

01:09:02 [Jinhar] Neva do it rev .. datz look at indi 1st den at the price

01:09:17 [Jinhar] If indi confirms ur eva .. take a posi . if not den wait

01:09:21 [gtk] right, i may have been doing that

01:09:27 [Jinhar] Dis will save u a lot of lossin trades

01:09:35 [Jinhar] Personal exp

01:09:47 [gtk] you have it, i am trying to get it!

01:10:56 [Jinhar] yea i have it after 1000 of mistakes

01:11:14 [gtk] hahaha

01:11:27 [gtk] maybe you can keep me to 500!?!

01:11:36 [gtk] when looking for ranges...

01:11:57 [gtk] do you mark all the waves in the chart? or just the major ones?

01:12:11 [Jinhar] da one whch 1 c

01:13:37 [gtk] the GU dropped nearly 30 pips since i asked you! 

01:14:21 [Jinhar] 

01:15:00 [gtk] i am seeing them and often predicting them, but hesitating on the trigger right now.

01:15:15 [Jinhar] u will get der

01:15:55 [gtk] i think so... just don't want to be in too early habitually. so really appreciate your advice.

01:16:14 [Jinhar] U wont

01:16:23 [Jinhar] prac more of paper trades for another week

01:16:39 [Jinhar] Or small pos trades if u r tradin live .

01:16:44 [Jinhar] And u will b fine Dont wrrri

01:16:55 [gtk] dude! its all paper... dream of trading real but not getting the results that warrent that yet

01:17:24 [Jinhar] U will get der

01:17:32 [gtk] thanks mate

01:18:30 [Jinhar] Everi 1 has to go to da same phase as u gtk

01:18:40 [Jinhar] i still do paper trades .. wen i m confused .

01:18:53 [Jinhar] Trades not gonna go anywer .. but ur money will

01:19:08 [Jinhar] So protectin ur cap is most imp nothin else

01:19:18 [gtk] haha, that's what I am avoiding by waiting to go live.

01:19:29 [gtk] make sure the pips are coming

01:22:27 [Jinhar] Pips .. will come

How to trade ranges by Jinhar - Pt1

I thought I just post what Jinhar taught us today on trading ranges. I've also highlighted the parts where it I think it's the most imoprtant lesson.

17:02:01 [Jinhar] anyways market is not movin
17:02:15 [Jinhar] Price to retest a range .
17:02:24 [Jinhar] Ma to confirm the move
17:02:33 [Jinhar] Indica to supprt my entri exit
17:02:47 [Jinhar] trend lines .. to evalu
17:02:53 [ericsatch] how do u use MA to confirm the moves?
17:03:11 [ericsatch] ahhh ok.
17:03:16 [ericsatch] for the direction.. is thar right?
17:03:25 [Jinhar] yeah
17:03:31 [ericsatch] ic
17:04:00 [ericsatch] nice. i got it
17:04:07 [Jinhar] da short we talkin abt .. was a perfect by using channels
17:04:08 [Jinhar] range
17:04:10 [Jinhar] stoch
17:04:11 [ericsatch] may just try trading ranges now in demo

.
.
.
.

17:04:46 [Jinhar] I go long .. wen dey r movin down
17:04:47 [Jinhar] counter trend
17:04:49 [gtk] good point jinhar
17:04:59 [MrT] Hi Dan - Welcome
17:05:01 [Jinhar] Look at the channels
17:05:17 [Jinhar] It was at high
17:05:28 [Jinhar] High of the range .
17:05:35 [Jinhar] stoch at high
17:05:37 [ericsatch] the reverse is forming now jinhar is that right?
17:05:40 [Jinhar] prices cant break abv
17:05:46 [Jinhar] Its a no brainer short
17:06:04 [gtk] cool

.
.
.
.



17:14:01 [ericsatch] do you get stopped out a lot? or u just keep trading knowing that the money management will make up for it?
17:14:52 [Jinhar] I get stopped out a lot
17:14:55 [Jinhar] i mean lot
17:15:12 [Jinhar] But dats fine .. i knw my style is to aggrsive.
17:15:22 [Jinhar] so i have to get used to it
17:15:24 [Jinhar] cant let it affect me
17:15:37 [Jinhar] i knw my right ones will tc of the rong.
17:15:41 [Jinhar] So doesnt matter
17:16:38 [Jinhar] i need .. 2000 rong trades .. to wipe my accnt .. need 20 right ones to double it
17:16:42 [rebuzz] re
17:16:46 [Jinhar] Do the math .. where will u put ur money ?

.
.
.
.



17:18:41 [ericsatch] how do you do your money management jinhar? 2000 trades? so each trade risk is 0.005&?
17:18:42 [rebuzz] oh, sorry mate ?
17:18:57 [rebuzz] but i guess u made ur pips ?
17:19:01 [Jinhar] O ya
17:19:10 [Jinhar] did 1 percent prof on total accnt
17:19:15 [Jinhar] In da asian session
17:19:29 [Jinhar] Juz waitin for tradin again
17:19:41 [rebuzz] how many pips is that? u trading more conservative now?
17:19:49 [Jinhar] eric my sl gen in 20 pips 25 pips max ..
17:20:04 [Jinhar] but i close within 5-6 pips .. at da 1st signal dat i m rong
17:20:06 [ericsatch] ic that's mine too. and that's 0.05% of your account?
17:20:21 [Jinhar] i dont wait .. for price to hit my sl of 20 pips ..
17:20:46 [Jinhar] if i m rong i will close it .. wid -1 or 0 pips .. also .. Dont care if market goes in my favour or no
17:20:54 [Jinhar] 1st sign u get ur rong .. dat da exit point for me
17:21:04 [ericsatch] ic
17:21:11 [Jinhar] So in dis manner i will need more then 2000 trades to get my ass kiked ..
17:21:33 [ericsatch] i mean to ask, how much risk you put ni the 20pips SL if it does hit. -1% if it hits?
17:21:57 [rebuzz] and if its in plus jinhar? say 30-40 pips and ur target is say +80 and then u get a "bad feelin" do let the trade roll?
17:21:59 [Jinhar] I let the trade roll to max point
17:22:09 [Jinhar] If its in profit .. it should b alwwed to fly
17:22:25 [Jinhar] u cant . close it wid 10 20 pips of prof .. and den compllain u dont get any big movers
17:22:46 [rebuzz] do u put ur stop to breakeven then or let it be where it is at the beginnin?
17:22:46 [Jinhar] once trade is in profit .. Lock it in wid .. some pips profs .. and den let the price tell u wen to go outta trade
17:22:50 [gtk] yesterday, i took a range trade and closed it at 25 pips. checked it later and it hit the bottom of range at 93 pips.
17:23:05 [Jinhar] Gtk it will always hit the bottom
17:23:13 [gtk] just wanted to break even on the day
17:23:16 [Jinhar] u need to wait
17:23:22 [gtk] but you are right of course
17:23:22 [Jinhar] durin asian .. i missed 3 entries
17:23:33 [Jinhar] all of them moved more then 100 points
17:23:47 [Jinhar] i didnt enter dem coz i missed all of emm and der was no chance to enter
17:24:06 [gtk] bummer
17:24:07 [Jinhar] i knwd it wld go up .. but didnt matter i missed it and der was no clear entri point later.
17:24:12 [Jinhar] Doestn matter
17:24:12 [rodhuy] jinhar what pair are you trainding in asain session?
17:24:20 [Jinhar] i will get more in da evenin
17:24:36 [Jinhar] Imp thng is follow da rules .. to the last point
17:24:42 [Jinhar] dont .. go wid emotions
17:24:51 [Jinhar] emot wont .. make u pips
17:24:54 [Jinhar] rules will
17:25:06 [Jinhar] I mostli trade the yen pairs .. all the time

The slippery slope.

Since last Friday I've been having a losing streak. I know it's not my knowledge, not my trade setups but it's my psychology.

I have not forgiven myself for blowing up. And worst, I'm tired. I'm tired that I keep blowing up after a week of good trading. I'm tired of keep trying. I'm tired and finally on Tuesday night I curled up in my bed and gave myself a good cry.

But I also made another important decision this week to stay on. To keep fighting. To keep trying. I will not give up.

My good wife said something very wise. She told me that because I have gotten most things in life easy, I'm not used to going beyond myself. That's why consistently being excellent is uncharted territory for me.

It is true. I have been blessed with some intelligence and so I am able to do most things in life ok. Unfortunately, nothing very very well. Nothing excellent. And in trading, you need to be head and shoulders above everyone before you can make it.

*wife says, actually I did things well. THAT's the problem. Now I have to go for excellence... *

So, after much crying, much heartaches I'm still here in front of my PC. I'll have to keep the consistency and overcome myself.

Wife says, when I overcome myself, she'll buy me a plague that says: Congratulations Eric, you have overcomed yourself.

I'm going for it.

Week ending 30th of August

I had a fantastic week. My win loss ratio was at 73% and the pips were coming in. I found a repeatable pattern I can work with and I'm having fun trading. I was back at BE of my account after the 80 pips blow up.

... until friday.

I had an appointment to go to and I was rushing for time. So I was trying to squeeze out trades before I head out. Sigh before I knew it, I lose about 40pips.

I realiase trading is like working in a Ferrari factory. Every work must be done right, done 'perfectly'. You cannot rush art.