USD 30K Project

Objective : TO GET USD 30K BY YEAR END (EARLIEST) OR BY END OF 1ST QUARTER 2011
Mission: MAXIMIZE USAGE OF PROFITABLE TECHNIC IN HAND

Target: TO BECOME FTT ONCE OBJECTIVE ACHIEVE


Criteria That Need to Accomplished within Objective Time Period:
1. To have maximum saving in ASB - completed (dividend & bonus will finance monthly/yearly overhead)
2. To minimize interest rate for mortgage - completed and achieved >50% installment amount reduce
3. To settle liability loan ie: car, credit card & short term loan - in progress (2/3 completed)
4. To have backup saving up to 3 months current salary - in progress (30% achieved)
5. To have multiple account on regulated brokers - in progress (1/3 completed)
6. To have minimum USD 1k for each acc (for no 5) in each account - in progress (1/3 completed)
7. To have minimum consistent income USD 1k monthly while working - in progress (60% achieved with 1 account while working)
7.1 To have minimum consistent income USD 1.5k once FTT
8. To have adequate trading room at home - completed

once completed, all criteria then im ready for early retirement and become FTT. InsyaAllah

Minor Service Interruption - Upgrading of TM Network

The details:
When: 18, 19, 22 & 23 July 2010 between 12 am and 6 am
(click image for enlarge)

15 Criteria to Become a Successful Trader

Criteria 1:
Use money you can aford to lose.
If you are trading with funds you need for some family project, you are doomed to failure. This is because you won’t be able to enjoy the mental freedom to make sound trading decisions. Your trading funds should be viewed as money you are willing to lose. Your position should be carefully analyzed so you don’t jeopardize other funds or assets. One of the keys to successful trading is mental independence. You've got to trade outside influencing factors, and that means your trading freedom must not be influenced by the fear of losing money you really have earmarked for a specific need.

Criteria 2:
Know yourself.
You need an objective temperament, an ability to control emotions and carry a position without losing sleep. Although trading discipline can be developed, the successful traders are unemotional about their position. There are many exciting things happening in the market everyday, so it takes a hard-nosed type of attitude and an ability to stand above short-term circumstances. If you do not have this attitude you will be changing your mind and your position every few minutes

Criteria 3:
Start Small
Test your trading ability by making paper trades. Then begin to trade small. Start with a Mini Account. Beginning traders should learn the mechanics of trading before graduating to more volatile contracts.

Criteria 4:
Don't Over Commit.
One rule of thumb is to keep three times the money in your margin account than is needed for that particular position. Reduce your position if necessary to conform to that rule. This rule helps you avoid trading decisions based on the amount of money in your margin account. If you are under-margined you may be forced to liquidate a position early, at a costly loss that could have been avoided.

Criteria 5:
Isolate your Trading from your Desire for Profit.
Don’t hope for a move so much that your trade is based on hope. The successful trader is able to isolate his trading from his emotion. Although hope is a great virtue in other areas of life, it can be a real hindrance to a trader. When hoping that the market will turn around in their favor, beginners often violate basic trading rules.

Criteria 6:
Don't form new opinions during Trading Hours. Pre-Plan your Trades.
Decide upon a basic course of action, then don’t let the ups and downs during the day upset your game play. Successful traders prefer to formulate a basic opinion before the market opens, then look for the proper time to execute a decision that has been made - apart from the emotion of the current market. When a trader completely changes his direction during the trading day, it can confuse him and may result in generating lots of commissions with little profit.

Criteria 7:
Take a Trading Break.
Trading every day begins to dull your life and relations with your family members. A trading break helps you take a detached view of the market, and tends to give you a fresh look at yourself and the way you want to trade for the next several weeks. Take some time off and spend it with your loved ones. A break also helps you see the market factors in a better perspective.

Criteria 8:
Don't Follow the crowd.
Successful traders like breathing room. When everyone seems to be long, they look for a reason to be short. Historically, the public tends to be wrong. Successful traders feel uncomfortable when their position is popular with the buying public, especially small traders. Periodic government reports on the position of traders of various sizes provide "overcrowding" clues. Another clue is "contrary opinion". When most of the advisory services are long, for xample, the successful trader gets ready to move to the sideline or to take a short position. Some services give a reading on market sentiment determined by compiling opinions from many advisory services. If 85% of the analysts are bullish, this indicates an overbought situation. If less than 25% are bullish, this indicates an oversold condition.

Criteria 9:
Block out other Opinions.
Don’t be influenced in your trading by what someone says, or you will continually change your mind. Once you have formed a basic opinion in the market direction, don’t allow yourself to be easily influenced. You can always find someone who can give you what appear to be logical reasons for reversing your position. If you listen to these outside views, you may be tempted to change your mind only to find later that holding your opinion would have been more profitable.

Criteria 10:
When you are not Sure, stand aside.
Don’t feel that you have to trade every day, or even hold a position every day. The beginning trader is tempted to trade or hold a position every day and this is a costly tendency. The successful traders develop patience and discipline to wait for an opportunity. After they have taken a position and begin to feel uncomfortable, successful traders either reduce the size of the position or liquidate.

Criteria 11:
Never enter your entire position at one price.
If you want to be long a certain number of lots, you may want to do it 4 or more installments, to see if the market is moving in your direction before you become totally committed. Successful traders use the fundamentals and various technical signals to guide their trading, but the most important key is market action. The Successful Traders tend to wait for the market to verify that the initial position was a good one before putting on their full position.

Criteria 12:
Never add to a losing position.
Regardless of how confident you feel, if you establish a position that shows a loss, don’t add to it. It may mean that you are out of step with the market. Some traders don’t agree with this rule, believing in a "price averaging" technique. The Successful Traders interviewed believe this is a risky technique and a way to mentally justify adding to a position that only magnifies a mistake.

Criteria 13:
Cut your Losses Short.
When the market moves against you, admit your mistake by liquidating your position. You can be successful if you are right on less than 50% of your trades if you keep your losses short and let your profits run. Some Successful Traders have only three or four profitable trades out of ten because through discipline or stop-loss orders they get out early when they are wrong. One of the most common failures of new traders is their inability to admit they’re wrong. It takes a great deal of discipline to overcome the temptation to hang on to a loss, hoping that the market will turn in your favor.

Criteria 14:
Let Your Profits Run.
Cutting your profits short can be the cause of unsuccessful trading. The slogan "you never go broke taking a profit" doesn’t apply. The reason: Your losses will at the best cancel out or at worst outweigh your profits unless you let your profits run. How do you know when to take a profit? Some technical rules on reversals and other chart formations can help. You should never take a profit just for the sake of a profit - have a reason to close out a profitable position.

Criteria 15:
Learn to Like Losses.
This rule says just the opposite of what many traders think. Learn to like losses because they're part of the business. When you gain the emotional stability to accept a loss without it hurting your pride, you're on your way to becoming a successful trader. The fear of taking a loss must be removed before you become a good trader. If you stick to the above Rules, you will definitely become a Successful Forex Trader. There should be no doubt about it.

p/s: credit to fren of mine who share me this... cant remember who share it in skype: 3k pips chatroom

MT4 Stats

lord of floaters is back

Started with a quarter dollar... let see how far that quarter can go

25 May 2010 - initial startup at USD 0.25 which have TP 3 pips means USD 0.28 during the SS taken.

Started with Maxis...

my chat with trading buddies today:

A: Sesaper ader duit lebih tuh boleh lar proceed… TP kat RM 4.95 kalo telor besar tgu sampai RM 5.30

Tersenyum lebar Ananda kat umah bila baca news nih.. “tak kesah lar lu mau letak brapa, yg penting masyukkk”

Maxis Dominance in Malaysia's Phone Market May Limit Stock

B: Sapa nak aku punya, nak letgo 5.3 nih

A: Hahaha leklu tgu dier jatuh 3 hinggit kui

C: Kang dia naik 7 inggit kang

A: Tujuh hinggittt ader org tuh makan tak abihhh larrrr

D: orang kata dia akan pickup kejar digi, baik ko beli aku tgh offer 5.3 ni haha

A: Pickup DG? Huhuh naper lak ko nk jual.. baik tgu match Digi hahaha

D: betul jugak hahaha .. hampeh nak speculate sket pun takleh.

gua mmg akan letgo masa tedekat ni, pasal mau pakai itu duit la

E: Aku suka tlg kengkawan….jual kat aku 2 hinggit

C: Aku up sket…2.30, bayar dlm USD

A: D accept deallll cepat! RM 8.05 tuh

B: Dah lambat..aku dah pegang dia punya 360degree..dia nak 1 ker 5..kalu nak 5, aku beli singgit jer…

D: demmm.. C, sori bos dah pigang da

E: Takper la rip lu tgu next candle

A: Next candle atas pivot tp CIBC 1.4895 kaco… C ko py dh slamat dah tuh.. tutup cepat stoch 533 sumer kat atas dah nih

C: Belum lagi..aku 98 TP 02 sudah

A: Sudah match buleh open tab dah nih hahahaha

C: Haa…bole…bole…ada la 60 cents. Mau?

A: Tak sampai hati lar kui

Xper tgu D py maxis… roti canai cecah kari kambing hahhaa

D: no prblem bai, cecah rm5.30 je kita jalan

F: ckp banyak la sirpipsaA.. ko la open tab... dah berapa bulan dah kereta ko tak bayar pakai duit gaji! apa kata channel kan kat kawan-kawan sikit duit yang lebih tu?

A: skali dier dah bangun tidoo larrrr…

p/s: bunyi mcm ader org losing pips jer kuikuikui

F: mmg tgh losing pips ni... wa tgh panas... silap percaturan la hari ni!

A: Rilexx wa kuda 2000++ kuda wa lari ntah kemana.. so far 5 jer baru jumpa jalan pulang…

C: Damn u EU memacak lagi…pecah itu trendline suda

A: Sebab tuh wa tak main kuda… Wa pakai Keldai senang jaga… (keldai)

E: Tapi keldai lu kuat mkn….-292

A: Yg kuat makan tuh kuda…

C: Kuda liar yg meragut di tepi ladang

E: Tu sebab gua prefer kuda mainan less maintainance. Tak cantik buang. heheheee

A: Lu x main kulit siput tepi pantai dah ek

F: arkghhhhh... y oh y????

E: Besar sikit…kupang

A: Saper nk beli kuda gua … timbang kati sudah lar.. dekat 2 minggu dah wa simpan nih…

dah lar asik langgar dinding, makan pun kuat sedang elok sembelih jual kat pasar tani nih.. gumuk2 woooo

E: Lama sgt idup takut liat

D: aku jual ikan kering jer lah.. kuda asyik belari jer

F: yep, kita orang ni ternak kuda la... tak tau pulak ko dah join jadik petani mcm kitaorg... tak baik tau ko main kuda kat kedai 4D! iskh.. iskh

F: suddenly i love my horses... 20+ ekor dah jumpa jalan pulang dgn bagasi-bagasi mereka!!!

A: Traders sumer dah lepak kat bar larrr

endup with kuda ku lariiii mana nak cariiiiiiii

This Is It!

Remember my New Start entry 4th week of Oct? I try to smash my trading buddy record start minimum balance and try get as to increase it as much as i can...

The result? I failed hahahhaa
My Mistake? not prepared & minimum balance less than USD 50 should not use Script or basket OP!

Then i take a break (holiday) from Fx again... relax... prepare my strategy (Trading Plan) get rest and created good moods before i decided to start again on Nov 4, 09.

Started with USD 100 & additional fund USD 600 for my newly serious trading... no more playing around!

this when i started. (yellow circle)

During that time USD in the worst nitemare. The fuel price started to increase while Euro in perfect strength. Together with the external indi and internal indi I start with buying EU plus minimum short position. The short only taking advantage when the candle bounced with minimum TP. This also including taking basket opportunity when it possible and permitted.

On Nov 5, 09... USD Interest Rate News i managed to take as many pips as i can and the result are good when it start... however, over confident attacked. I make silly mistake and losing pips like leaving my water tap open... which until now the tap still not closed.

My running water tap cost me - 1813 pips! and this is the prove (noticed the entry day and current date?)

There was a time im losing 3000++ pips due to wrong judgement, you may refer where the candle go after that... EU itself rally 326 pips tops on Nov 10, 09 start from where i OP sell all 14 pairs!

What should i do next? started with losing pips on the 1st day just after the interest news i concentrate to minimise lost which i go back to basic - manual trading and follow trend just for EU... no more script & no more basket! i until today i managed to stick with my trading plan and the result was tremendous hehhehe at this point of time im think about what my long time fren says... "the tren is ur fren bro.. jgn lawan tren..."

following the trend up up up up the down down down and this is what i achieved today...

53.5% increasing of equity from the day i started on Nov 4, 2009

float max at USD 300++ with 3000++ pips

73% float reduce

minimum margin level left less than 5oo% increase to 6500%

With this result i decided to reward myself, wife and my little princess for their understanding since the day i started i joint Fx 4-5 months ago... and no more car loan payment using pocket money!

Happy pippings!

USD Interest Rate News

After another few days holiday for me from trade. I planned my come back with as many pips i can get. Yet today, pips seems like running away from me hahaha.

I started a bit late around 2100 hrs which i missed few news in the afternoon session and early evening. as a moving forward i'm targeting 0215 hrs news patiently...

after waiting... and waiting... and my clock showed 0243 hrs at moment i wrote this entry "bulan tak jugak kunjung tiba" hahhaaha the news waited not showing and there is nothing or any indi that its will happened very soon... or maybe the speaker for FOMC Statement today purposely leave the interest statement at the end of his/her speech so that all the reporters, journalis, traders and me hear/watch him make a speech until to the last words hehehe.

should i wait or go to sleep hug my lovely wife on bed?


the answer is......
feel the heat next to my wife!

p/s: today no happy pippings hahahhaa

sorry guys... at 0330 hrs


and this is what happened when you not following trend... losing pips like leave your water tap open ahhahaaa


Notice the major trend for past three days?