Forex Trading: OMG.... Don't be Greedy in Forex

What a week it has been for me.....

I had a Forex trading plan and I BLEW it!!!!! BIG time....

Man, I am so disappointed in myself...

For my fellow traders out there, don't do what I did....

So here is the story.

I had a forex trading plan of making 200 pips a week.

It sound a lot when you look at it but really, I managed to do it not just once but in several weeks.

You see, i trade 7 pairs on the H4 chart and I just need 30 pips per pair and I will make 200 pips right....

Like I said, i was able to succeed in this plan in numerous occasions.



But this past week, I lost my discipline and GREED took over

It was Wednesday and I had already won 213 pips.

But my head was not right, I went on and continue trading and ended losing 90 pips back to the market.

The worst part is I still have 2 open trades at -49 pips and -41 pips.

How stupid I am....


I totally wasted this week's work...

I just wanted to share this out to the world and let traders out there realize that they might not tbe the only ones making mistakes in forex trading.


The problem is, don't repeat the same mistakes.....

So, instead of increasing my account another 20%, i might lose more of my previous profits....

Its perfectly normal to lose in forex trading but to lose the way I did it this week is unacceptable...

So, be careful forex traders... don't be greedy..........

Yours sincerely,




 Check Out my other posts here- My Justinnation

Frisky Goat At TTDI

Its a Saturday morning and gf is craving for a nice breakfast before work.

So, we headed to Frisky Goat Cafe at TTDI.

It is located right beside Public Bank TTDI.

Nice looking cafe (beside Public Bank TTDI)

We were early around 9am and thank god there was still ample of parking space near the cafe.

Forex Trading: Forex Robot Are Scams?

Hi traders,

If you are into forex trading, your will surely heard of forex robots or better known as EAs (expert advisors).

These EAs are programs or systems that can execute trades on your behalf even when you are not in front your computer.

Some traders don't even need to have a computer running in order as long as they have a platform running in a rented server.

It all sounds amazing as you can get the idea of making money without having to lift a finger.

Perhaps you are chilling at the beach but your forex trading account is still cashing in on pips after pips.

But are these forex robots or EA are for real?

First, you need to know how an EA operates.

An EA is programmed to enter a trade based on technical signals.

It is a trading system made up of mathematical algorithm that makes trades when the conditions are made.

There are EAs that work out there but the problem lies in which one do you use?

This is where the scam part creeps in.


The forex niche is huge and high in demand because many people want to make lots of money.

Who would complain about too much money?

So a lot of programmers and marketers will try to cash in the 'greed' of traders.

Just do a quick search on the internet and you will find tons of EA programs for sale.

You can buy one for $20 ans some will cost up to $900 or more.

It is all in the marketing.


I use to be a fan of such EAs.

Thinking that I can make money even in my sleep but not is not the case.

EAs will not work because it cannot adapt to the ever changing market condition.

You may have a great run of trades going your way but in the next week or month, lose everything you had earned previously.


So can you trust an EA to trade for you?

I vote NO....

happy trading,


Yours sincerely,




 Check Out my other posts here- My Justinnation

Forex Trading: How many pips should you target?

As a Forex trader, we all want to make more pips if we can.

More pips means more earnings and more money in our accounts.

But the question is how many pips should you target for in your trading?

This really depends on several factors.

1. Your trading method
2. Your target profit


Different trading methods will have different type of target for each trade taken.

A trader trading the 4 hour chart will have a different entry if compared to a trader trading the 5 minute chart.

Instead of focusing on how much you can per day, focus on the return per month.

If you can have a return of 6% per month, you are considered as a good trader.

The question is consistency.

If you can achieve 6% return every month without fail.

Just think about the size of your account 1 year later.

You would have increased your account tremendously.


There are many traders out there averaging more than 6% return per month.
But once again, this kind of result will not be any of use if it is not consistent.


Remember, you don't have to take a trade every single day.
This is a mistake that I myself often make because I am eager to make more money.

Trade only when you have the absolute right set up in your trading system of method.

If you don't see it, skip the day.

End the day without a trade.

It is perfectly okay.

It is better than a losing day right?

So train yourself and build a habit of ' trading right' and you will be able to build a nice career in forex trading.

Happy trading,


Yours sincerely,




 Check Out my other posts here- My Justinnation

Forex trading: Forex Trading Myth Revealed.....

Got a nice email today from my dad about Forex.

It is an interview done by Kc Lau, a famous blogger in the financial niche with Ko Heng Whye, a senior Forex trading coach with FX Primus.

it is an interesting post about Forex and I would like to share it out..

Source:  KCLau.com

We interviewed Ko Heng Whye , Senior Forex Coach with FXPRIMUS  about Forex trading and its myth. Ko Heng Whye heads the team of Forex Coaches who provides training and coaching to thousands of traders worldwide via FXPRIMUS Coach. He is Best known as “Short GBPAUD” Trade Call where several clients netted more than 1000 pips from this one Trade Call alone.

He was a computer engineer with Singapore Airlines, started trading Forex in 2007. His stellar progress in his trading career led to him being head-hunted by FXPRIMUS Director of Training & Education, Mario Singh, to head his team of Forex Coaches.

Since then,Heng Whye has personally trained and coached traders from countries all over the world including Singapore, Malaysia, Thailand, Australia and China — a few of whom are now Forex Coaches in his team.Today as Senior Forex Coach with FXPRIMUS, besides training Forex Coaches who in turn train Forex traders, Heng Whye continues to personally trade Forex for profits on a daily basis.

His passion for Forex trading has also driven him to design and create profitable trading systems and strategies suitable for complete beginners and advanced traders — strategies that many clients of FXPRIMUS Coach are using today.

Read more here.

Happy trading,


Yours sincerely,




 Check Out my other posts here- My Justinnation

Forex Trading- Forex Weekly Outlook May 26 - 30 2014

Here is the scoop for the Forex weekly outlook for this week.

Source: www.investing.com

Investing.com - The euro fell to three month lows against the broadly stronger dollar on Friday after data showing that German business sentiment deteriorated in May added to expectations for easing by the European Central Bank at its upcoming June meeting.Euro falls to 3-month lows against dollarEUR/USD hit lows of 1.3616, the weakest since February 13 and settled at 1.3630, 0.18% lower for the day. For the week, the pair lost 0.60%.
The pair was likely to find support at 1.3560 and resistance at 1.3660.
The drop in the euro came after a report showed that the German Ifo business climate index declined to 110.4 in May; the lowest reading this year, from 111.2 in April, indicating that economic activity could slow in coming months.
The data came one day after a report showing that manufacturing activity in the euro zone expanded at the slowest rate in six months in May.
Recent comments by senior ECB officials have signaled that the bank is open to acting as soon as June to stop inflation in the currency bloc from falling too low.

Read more here 

Happy trading

Yours sincerely,




 Check Out my other posts here- My Justinnation

Forex Trading- 5 Mistakes Trading Mistakes To Avoid In Forex Trading

In this post, I would like to share a nice article I came across online.

It is about 5 mistakes that every forex trader should learn to avoid in their trading life.

Source: Inlinefoex.com

1. Over Leveraging

By far the most common and most deadly of the trading sins. The massive amount of leverage offered by forex brokers can range from 100:1 or 200:1. to as high as 2,000:1 or 3,000:1. At 3,000:1 leverage you only need around 333$ to take a 1 Million dollars position.
Don’t get me wrong, leverage is a right not an obligation. Just because your broker offers you 3,000:1 leverage doesn’t mean that you have to take a 1 Million dollar position with your 500$ account. But it does mean being responsible. Keep your risk per trade low, never risk more then 1 or 2% of your account.
SEE ALSO : How to Control Emotions While Trading Forex?

2. Not having a Trading Strategy

Most traders especially beginner traders trade without a trading strategy. They trade blind, often changing up their methods on a daily basis depending on what works in the moment.
Always have a formulated trading plan. A good forex trading plan should have the following elements:
- An Entry Point
A trading strategy should always have a well defined entry point. Write down the rules for entering a position and post them on your monitor where you can see them. If you trading strategy is not fully automatic just write down the main rules and stick to them!
- An Exit Point
Where do you get out of a bad trade? Do you cross your fingers and hope for the best? Hope is not a strategy, always have a predefined exit point and write it down right next to your entry point rules.
- Trading Size
Do you know what will be your position size before you get the entry signal? Or do you vary your size based on how you feel once you get the alert to enter? The size of your trades should be directly related to your trading strategy. In general a good rules of thumb for newer traders is the 1-2% limit I talked about earlier

Read more here

Happy trading

Yours sincerely,




 Check Out my other posts here- My Justinnation

Bangkok Trip Day 3

It's day 3 in Bangkok and today, we will be visiting the Grand Palace....

DAY 3- Grand Palace - Terminal 21- Chinatown -Night Market (Siam Center)

We started the day with the breakfast buffet provided by the hotel.

After a hearty breakfast, we took a cab to Grand Palace. (we basically took a cab to everywhere we went in Bangkok).

Upon arriving, there are a lot of people already rushing to enter the temple.

Note, females are not allowed to wear shorts into the temple.

So wear a skirt or long pants.

As we enter, we notice a lot of tourist from China... (they were really loud )

Marching at the entrance

After a hot walk in the temple, we look for a place for lunch near the area but unluckily, the restaurant that we wanted to go Poj Spa Kar was closed.

So we took a cab to Terminal 21 shopping centre. (need some air- con)

In the mall, you can get free Wifi if you are a tourist, just present your passport at the information counter and they will give you the Wifi access for a day.

For lunch, we had steamboat called MK Restaurant

Nothing worthy to mention about the steamboat.

Its like Johnny's steamboat back here.


For dinner, we headed to Chinatown.

Didn't take any photos here as we  were tired.   :(

We ended our day going through the night market at Siam Center one more time because my girlfriend wanted to go shopping for another round.


Overall, our trip to Bangkok was great.

Mainly because things there are quiet cheap compared to Malaysia.

Food was nice and transportation was easy. (if you take the taxi all the time)

I will definitely go there again very soon...



Yours sincerely,




 Check Out my other posts here- My Justinnation

Financial Planning?

Have you ever plan for your finance?

In today's competitive world, planning ahead will surely do you some good as you grow older year by year.

For me, I didn't know anything about financial planning except for saving and buying insurance for safety purchases.

I am not an expert in financial planning but i came across this interesting article about financial planning from KC Lau, a famous blogger in the financial niche

Source: KCLau.com

An Interview with Alex Yeoh: What Should You Know About Financial Planning
We interviewed Alex Yeoh, a licensed financial planner with VKA Wealth Planners (A financial planning firm licensed by Bank Negara Malaysia and Securities Commission Malaysia). He can be reached at email: alexyeoh@vka.com.my
 Why Financial Planner is a career that one should consider?
Financial products and services are getting more complicated nowadays. In order for general public to understand and make informed decision therefore is getting more difficult as well. Then, the role of Financial Planner is important to understand your financial needs and identify which products and services suits you the most.
In developed countries, no wonder financial planner was listed as one of the most sought after career (beside one of the most rewarding career). Was Malaysia moving to be a developed country also? If yes, then financial planner is definitely a career we should consider.
What will be the challenge in personal financial planning?
The most challenging part is that people know what should they do, but didn’t execute it. I am talking about the discipline issue here. Most of the time, people tends to procrastinate although they knew actions should be taken immediately for their own benefits. Another challenge is many people do not want to disclose their actual financial conditions. Then, how financial planners are going to give you the best advice?
How do you assist in tax planning?
In tax planning, our main role is to help taxpayers to minimize taxes by optimizing the various tax reliefs given. We cannot run away from paying taxes even on death. Of course, it would be more complicated in taxation planning for corporate and business owners. But, one thing I would like to highlight here is we can only help clients to minimize tax, not to avoid tax.

For more, go to the link above.....

Hope you like the info,

Happy trading,



Yours sincerely,




 Check Out my other posts here- My Justinnation

Forex Trading- Weekly Outlook May19- May 23 2014

Its Monday again and the Forex market resumes.

Here is a quick outlook for the week ahead.


Source: Investing.com

Investing.com - The euro slid lower against the dollar on Friday following the release of uneven U.S. data, as concerns over the strength of the recovery in the euro zone added to pressure on the European Central Bank to ease monetary policy.Euro ends week lower against dollar amid euro zone growth fearsEUR/USD was at 1.3693 late Friday, holding just above the two-and-a-half month low of 1.3647 struck in the previous session. For the week, the pair was down 0.45%.
The pair is likely to find support at 1.3647 and resistance at 1.3731, Thursday’s high.
The Commerce Department reported Friday that U.S. housing starts rose 13.2% last month, after a 2.0% increase in March.
It was the largest increase in five months, indicating that the economy is shaking off the effect of a weather related slowdown over the winter.

Happy trading,

Yours sincerely,




 Check Out my other posts here- My Justinnation

Bangkok Trip Day 2

This post is the continuation of my trip to Bangkok last year, 2013

Before i forgot, we ended our 1st day with a nice foot reflexology or foot massage.

When you got to Bangkok, have to try their foot massage right...

There are a few massage shop right beside our hotel and we chose the one where the boss was able to speak Mandarin.

The cost was 200 baht per hour.

DAY 2- Platinum Fashion Mall - Kuan Seafood- Khao San Rd- Siam Centre

Its day 2 in Bangkok and after a nice night of sleep, we woke up, prepared and headed downstairs for our breakfast provided by the Hotel. (we stayed at Bangkok City Hotel)

After breakfast, we headed straight Platinum Fashion Mall.

We took a Tuk Tuk. cost is 50 Baht.


Once we arrived, it was still abit early, around 11 am.

The stores are just about to start their business and the first thing that we went to look for is a trolley bag so that we can stuff all the thing we bought into is and drag the bag along without having to carry it.

Platinum Fashion Mall is huge.

If I didn't remember wrongly, there was 6 Floors and each floor has designated type of things.

For example, there was a floor for bags and another floor for shoes.

For women clothing, there were several floors.

As for the men, there was only 1 floor but it was enough for me and Jinz.

Even walking that 1 floor had made our legs tired.

My girlfriend wanted to spent the whole day there because she had several floors to go through.

So, we basically walk separately.

After about 3 hours, we met up at a cafe near the entrance.

Me and Jinz are already ' low battery'

As my girlfriend arrived, we has a bit of discussion... and decided to go for lunch at Kuang Seafood.

Actually its in between lunch and dinner because it was around 3pm.


So, we took a cab back to the hotel, chuck the stuff that we bough, freshen a bit and headed down right away.

We then took a cab to the popular Kuang Seafood.

Ordering the food was quite easy because their menu is illustrtaed very well.

Except for one dish where we wanted squid instead of fish.

i had to imitate acting like a fish and squid to tell the waitress which one we wanted.

We all ended having big laughs after we understand each other.

White tomyam

Oyster with eggs...like our 'oh jian'

Grilled prawns.. very chewy and fresh

Yellow curry crab... this is the best.. especially when u eat it with rice

We also ordered one vege (didnt take photo  :(  )

Overall, the food was fantastic.

Price wise, we didn't cared much because each of us already agreed to prepared RM 500 for food and travelling expenses.

So, we just ordered without thinking much about the price.

But i think the bill was less than RM 200.

If you like seafood, you can consider this place.

Here is the address:

Kuang Sea Foods

107/13 Soi Rangnam, Samsen Nai, Phaya Thai, Bangkok 10400

Open Everyday 10 am – 2 am

Tel. 0-2642-5591

After the meal, we headed back to the hotel for a power nap...

After the nap, we headed to Khao San Rd.

This place is popular to expats.

There a lot of foreigners there.

Khao San Rd.

The street itself is like a night market but the road is still wide compared to other night markets.

There is a lot of stalls selling t-shirts, souvenirs and of course bars...

Initially, we thought of having dinner thee but there was nothing suitable plus we were still digesting the late seafood lunch.

After walking through Khao San Rd, we took a taxi back to Siam area and headed to Siam Center.

The reason for going to Siam Center is because we wanted to have something light for dinner and Mr' Jones Orphanage seem liked a good solution.

We were full, might as well just have some dessert.

So, that was our dinner for Day 2.

After having the cakes, we went to the night market opposite Siam Center.

It is right below the BTS station and it stretches long and keep on going until the next BTS station.

It is a very long night market and its another great place for girls to buy their fashion...

After almost 2 hours at the night market.

We called it a day and went back to the hotel to ZZZZzzz.............

Yours sincerely,




 Check Out my other posts here- My Justinnation

How Is Money Made in Forex?

I remember that once, a friend of mine ask me what I was doing and I told him I was trading Forex.

Then he said to  me ' Oh... forex? what currency you buy?'

I told him I trade various currency pairs.

before i could continue, he said "I recently also bough some US Dollars. I waited for the exchange rate to up.. then i change the US Dollars to Singapore Dollar. I made some money there"

I smiled at him at said ' Oh that's nice!'

But the way I trade Forex is different.

I told him I do it from home with my laptop.

Then his face changed signalling me a 'I don't know what you are talking about face'

So, that just show me how unfamiliar people are about online forex trading.

So, how is money made from Forex trading from home?

Well, in order to trade forex from home, we need to load our funds to a Forex Broker.

I am using FX Primus.

You can do a search on them, they are pretty good.

Low spread and great connection for the trading platform.

With our money in the broker, we can them execute BUY or SELL orders from the platform.


In Forex, we earn money by winning PIPs. (Pips explained here)

So, lets look at a simple example.

Say that we are trading the EURUSD pair and the current price is 1.3050

We enter a BUY order at 1.3050.

After a while, the price went up to 1.3060

As of now, the market price for EURUSD went up 10 Pips.

If i close my order now, I would have won 10 Pips.

Easy right?


A Pip in forex can hold a different value depending on the lot size of the trade.

As traders, we can trade
10 cents/pip, 
1 dollar/pip
10 dollar/pip
100 dollar/pip

You get the idea right?

Back to the example,

We made 10 pips from that trade.

If I had put down a lot size equivalent to 10 dollar per pip, I would have profited 100 dollars out of that trade.

If it was 100 dollar per pip, I would have profited 1000 dollars.

See the power of Forex?

You can learn in detail on how money is made from Forex here at this forum.

Hope this post help you see the potential  in Forex.



Yours sincerely,




 Check Out my other posts here- My Justinnation

My 4 Days 3 Nights Trip To Bangkok

Sawadeekap.....

I wonder if that is the right spelling but it doesn't matter much..

This is a belated post about my trip to Bangkok in 2013

After hearing from some friend that food and clothes there are cheap, me and my girlfriend started planning for a trip.

In the end, we ended up going with a friend of mine tagging along. He is like a younger brother to me)
Never went overseas before, so just bring him along..

We planned a 4 day 3 night stay at Bangkok and the bought our air tickets from Air Asia.
It cost us RM 417 for the round trip.
Pretty affordable I guess...

So we planned the trip on our own with my girlfriend leading the FOOD department.
Means she plan where we will go makan la...

I will be in charge to navigation...
How to go the places we wanted to go and go back to the hotel.

For our accommodation, we stayed ant Bangkok City Hotel

Overall, our stay was very pleasant.
The hotel was clean, staffs are well mannered and the location is great.
Its located in the same road as Platinum Mall. (will talk more about Platinum Mall later)
It is also very near to some main places like Siam Paragon, CentrePoint, MBK and Siam Centre.
All and all, you can reach this places by  taking a taxi or tuk tuk.
Won't cost you more than 100 baht.

Just beware, when taking taxi, always ask if they charge by meter or not?

Always take those charging with meter.

also, try to bargain with those tuk tuk fellas...

You will get much cheaper rates.

There was this older uncle who charge us just 50 baht to got to Platinum Mall.

But at the mall, another tuk tuk driver quote us 200 baht for our way back?

Crazy right.

we ended up taking a taxi for around 80 baht.

Ok, lets start with out trip.


Day 1- Centre World Plaza & Siam Paragon- Asiatique

We arrive at the hotel around noon and immediately checked  into our room.

We went to the lobby to ask for directions. (there were maps so it was easy)
I ask if it was near to walk to Central World Plaza, the staff said it is 'quite near'
She says around 15 minutes walk.

So we decided to take a walk.

But we walk for a very long time..  more than 30 minutes to get there.. (it was tiring man..)

So after a long long walk, we reach the place.

Apparently, this mall was rebuilt after it was bombed or collapse or something.

Without further ado, we went in search of LUNCH...

What better to start with Thai food... so we went to this place called Nara  in the mall.

They serve some authentic fusion Thai food.

Seafood Tom Yam Gung

Pandan chicken

Ommelete

The food was great, especially the egg.

Price wise, it is in the middle-high range.

It we compare it here, it would be like having a Thai food meal in a mall like One Utama or Mid Valley. Not cheap by anyways...

But it was our 1st meal here, so pamper ourselves a bit.

After a  few hours of walking tin the shopping mall, we headed back to the hotel for a bit of rest.

At around 6pm, we start our journey to Asiatique.

We took the BTS to Saphan Taksin and boarded the charter ferry proviided by Asiatique.

Its free but the queue was pretty long.

A quickselfie in the BTS

Asiatique

Map of Asiatique

Shops in Asiatique

Quick photo before leaving

Overall, Asiatique is a great nightspot.

It is clean and considered still new.

There is a variety of food there as well and ample of shopping that you can do.

We spent almost 3 hours there..

So that is it for Day 1....

Yours sincerely,




 Check Out my other posts here- My Justinnation

Forex Trading- 77% Gain in 17 Days

This post is about Forex trading.

For those of you who do not know anything about Forex, it my be the time for you to dig in to it..

I have been trading Forex for 3 years now and my profits are on and off.

Meaning not consistent but boy am i excited to share what I am about to share with all of you.

You see, we need to learn in whatever thing that we want to do and till today, after 3 years... I am still learning in Forex..

It may seem that I have found the answer... (the Holy Grail)

Check out my account that I have link to Myfxbook. (it's a demo by the way).

This is a new demo account that I started by using a new strategy....

Excited eh....

Up to date, my profits are $3896 based on an account starting with $5000 USD.

That translate to around 77% gain.

Man... I can't wait using it on my live account....

I am going to trade with this demo for the whole month of May...

By the end of the month, I will made another post to update on the result of using this new system..

So, stay tuned....

Yours sincerely,




 Check Out my other posts here- My Justinnation

Back To Blogging?

It's 2014.

man.. its been a long time since i blog.

But now i am back... and let's say  that I am once again continuing my hobby with blogging.

Sometimes i really don't know what to write about but i guess i can just talk about anything in my blog right...

So, besides talking about forex, I am going to talk about everything happening in my life...

That should keep me busy.

You see, trading forex has allowed me to have plenty of time in my hands and seriously, I don't know what to do...

So, i though about it and fell that blogging could help past the time...

i hope..