Forex Trading: May Trading Result

Hi there fellow traders...

As promised, I am going to update the progress of my trading..

Its 3rd June now and I would like to share my May trading result.

Overall in May, my gain is 68.79%.

As of now, I still have 4 pending trades.

2 of the trades were made in May.

Didn't want to wait anymore so I decided to made the update now instead of waiting for the trades to end in either profit or loss..

All in all, it was a good month.

Can't complain on a 68.79% gain....

Happy trading,

Yours sincerely,




 Check Out my other posts here- My Justinnation

Forex Trading: It is just a trade

Today, I would like to share something i read on the internet and it is so true when it comes to Forex Trading.

This is written by Russ Horn, a well-known trader in the forex trading community who has come up with various forex products which I myself is using.

Here is what he says:

It's just a trade. 

As a new trader, there is so much focus and determination about "getting it right" that it doesn't even occur to us that it's just a trade. 

So much focus on using the perfect indicators.

So much focus on the perfect settings.

So much focus on getting the setup just right.

So much focus on getting the next trade exactly right.

When you are learning, this only makes sense, and of course this is where the emphasis will have to be in order to get good at trading.

Over the next several years, you will be taking thousands of trades, 10s of thousands even.

With the experience that comes with the enormous number of trades, you will come to realize that there is a lot of forgiveness in your trading.

Once you have the trade management perfected and you are not driven to be proven right all the time, you will find you start making more and more money.

Being relaxed with your trades is important to succeeding.

Successful traders identify less and less with the trades they take, instead, they identify more with the ends they are working towards.

With more emphasis on the "why you are trading", trading becomes a lot simpler, a lot less stressful, and also a lot more profitable.

Work on getting the trading down so you don't have to think about it anymore is important:
Setups,
Trade Management
Exits

And once you get it, the switches from learning and becomes why you are trading... and each trade becomes "just a trade".

Russ

Yours sincerely,




 Check Out my other posts here- My Justinnation

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