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17/31
Ranking
Hi Friends,
Welcome to first month of financial year, you know one bitter fact in the forex market. Forex is war between individuals where expertise tigers will hunt down new deer’s and share the flesh of profit among them so my aim is to save as many deer I can so I love to share my new leanings to new deer’s to escape from the clutches of tigers and to become one of them without giving away their flesh.
When I am was deer to the forex trading I used to have 100 of doubts, 1000 of confusion, I used to search an answer for all of those and spend some time in reading to learn forex. I am so scared like other deer’s and used to do lot of practice without proper knowledge and used to fallow forex gurus and their signals.
Every new deer will do the same at the beginning life of trading like:
1.Searching a 100 percent working strategy .
2.Searching signals providers.
3.Searching any website that gives an signals for trading.
4.Searching for indicators.
5.Searching for trading systems.
Ask yourself now; did you search any of the above?
You say yes,I know searching a pearl in ocean is difficult but you will get a pearl one day but searching a boat on dry land to get your destination i…
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iiivb avatar
iiivb 12 May

excellent and thanks for sharing!

Siarhei89 avatar

good

SergeyF avatar
SergeyF 14 May

good!

Ayushvam avatar
Ayushvam 14 May

very well written..!!

Yonggi7 avatar
Yonggi7 18 May

It's an original article! Congratulations!

orto leave comments
8/30
Ranking
In this article I will talk about:
  • My experience

  • What to write in the diary?

  • Exmple of a trading jornal in excel.

  • When I first started trading in the financial market, I did not have a trading journal. I just wanted to make money and I thought a trading diary was completely unnecessary.
    But now looking back, it's clear to me that I was wrong about that. In fact, it was my insistence on not using a trading diary that prevented my progress.
    For a long time, I've been losing money on the market without understanding why. It was only later when I started using a trading journal that I realized I was repeating the same mistakes without being aware of it.
    Image 1 - Take notes.

    Now let's make a simple test.
    Do you think you are repeating the same mistakes in trading?
    Do you think you're repeating the same mistakes in trading?
    The poit is regardless of your answer, how do you know it's the truth? Subjectivity hinders progress, if you think you're repeating the same mistakes, how do you know that this is indeed the case?
    If you think you're not repeating the same mistakes, how do you know? We tend to respond to questions like these spontaneously.
    Unfortunately, people tend to see what they …
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    MargaritaDG avatar

    Great article! Saved it for the future.

    Sasha_spicy avatar

    well done!

    thedoctor avatar
    thedoctor 18 Jan.

    well done

    olenka2517 avatar
    olenka2517 21 Jan.

    very good

    Yonggi7 avatar
    Yonggi7 24 Jan.

    It's very interesting! It gives a good feeling when we have to read it! Congratulations!

    orto leave comments
    17/40
    Ranking
    For those that have been trading forex for long have experienced a time when they feel like they are losing their trading edge. Whether it’s because you took a long time from trading; had a significant string of losing trades or blew all the capital on your account, they will come a time when you wish to start from scratch or quit trading all together.
    If you do choose to start from scratch, then you’ve only made the first step to swimming rather than sinking. It’s only the beginning of the process. Starting over is more difficult than learning how to trade for the first time. When you start over, you’ll have to confront your mistakes, admit your failures, and let go of your ego and your old habits. But maybe letting go is exactly the point. Just like how some tech startups have to “pivot” in order to survive, you also have to let go of your past trading processes and pursue other avenues to discover a better trader in you.
    So, how can you “start over” as a forex trader? Here are a few tips:

    Try to freshly study the forex market.

    The old dog would have to learn new tricks if he/she wants to successfully adapt to current environments. The key is your willingness to try new thi…
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    tangell avatar
    tangell 30 Aug.

    занимательная работа

    al_dcdemo avatar
    al_dcdemo 30 Aug.

    Very well done!

    Dimko1 avatar
    Dimko1 30 Aug.

    good article!

    DaTony9 avatar
    DaTony9 31 Aug.

    Thanks guys

    anvifx avatar
    anvifx 1 Sep.

    Nice article

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    13/21
    Ranking
    Men and women are different and no I’m not just talking about the fun body parts. Men’s brains are 10% larger and men’s and women’s brains are wired differently . We react differently to the same stimuli. Sometimes it feels like we’re a completely different species.
    Few things before we go with the article. Not all women (or men) are the same. We are just talking about averages here, the average woman compared to the average men. There can be huge differences between individuals of both sexes. Today, there are women that are high powered CEO and men that are stay at home dads. With that out of the way, let’s start! Since most of us traders are men, I will focus on the guys in this article. Here are the 3 main reasons why thinking like a woman will help your trading!
    1. Women Are More Risk Averse

    Study after study has shown that women are more risk averse then men. Women shun investment vehicles that are perceived as risky (like stocks or forex) and go for government bonds or bank deposits. Risk aversion has its plusses and minuses. On the plus side, increased risk aversion can help guard against unexpected losses. On the minus side, the unwillingness of women to take risks prob…
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    Elani avatar
    Elani 20 Aug.

    never knew women are emotionally stable )) but yes they are living a more balanced life that is not easy! Great article!

    TheGuru avatar
    TheGuru 31 Aug.

    No Offense, this article is Hilarious!!

    Women more risky! No proof whatsoever.

    Emotional Stability! That's what Women can never have, opposite of their biological nature.

    Women lead more balanced lives! HaHa, limited point of view. Mostly, when Women are rushed into working, the family is broken.

    When we talk about Forex, we are talking about money, financially, go to Forbes and check how many from the 100 Billionaire's are Women? Only 10. That's 10%!!!



    Some Women might stop liking me after this opinion, no problem, it will not change the FACT.

    fxsurprise8 avatar

    Hey Guru. The article does address some of the points you make. As I wrote above, men need to be LESS risky and women need to be MORE risky. This is of course if their goal is to make money.

    Re emotional stability, I think you are confusing the outward display of emotions by women as evidence of their emotional instability. But wouldn't you agree that as men, we are pressured by society to rarely express our feelings? Just because men choose to keep the emotions bottled up inside, doesn't mean that they are more stable then women.

    alcatraz avatar
    alcatraz 1 Sep.

    IMO i go with your statements fxsurprise. Nothing can be assumed beeing generalized. However from personal experience (and especially in FX) i noticed a very high risk friendlyness by the male side which i am very sure never will find in female traders since (especially) males are pressed by the usual society rules which makes it unable staying completely relaxed. Only the real successful traders may have found what most are looking for and what women usually are expterts in: Work-Life-balance. ;) Good article so far.

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    15/21
    Ranking
    INTRODUCTION
    A man who does not plan plans to fail. All of the successful traders have a comprehensive trading strategy with clearly spelt out entry and exit rules and a trading journal for the recording of all trading activities.
    In this article I’m going to be sharing on how I have developed my trading journal on Microsoft excel. The journal workbook has three worksheets all containing different information that can be linked at times.
    Sheet 1 – Strategy
    Having the strategy is one of the fundamental things in forex trading. This sheet does not capture the entry and exit rules but the risk and return objectives. This sheet is essentially divided into two sections, the budget section and the actual section.
    Budget section

    The budget section has the following columns

    Column A – Date:
    Record the date that you plan to be trading actively. Days set aside for family vacations and weekends will be excluded from the rows. I usually do the strategy for at least six months. I know of people who do not trade on Mondays and Fridays so these days should be excluded.
    Column B – Opening Balance: The first entry in this column is the balance brought forward in the trading account. Th…
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    AlligatorEffect avatar

    It's fundamental to keep track of the trades. This is an area that I need to devote a bit more time, honestly. There are some great topics here that I can add to my journal! Thanks

    llolor avatar
    llolor 31 Aug.

    Thank you very much

    orto leave comments
    5/23
    Ranking

    "If you fail to plan, you are planning to fail." Benjamin Franklin
    After several months of trading in the forex market, I can confidently say that I have found a strategy which is to a large extent very reliable. The strategy is literally making me thousands of dollars in cash prize in the Dukascopy trader contest.
    The last screenshot is for the month of June 2014. It has not yet been officially announced, but that third place position is looking very good.
    Trading for me has been a very interesting learning process. It took me a while, but I finally found a trading strategy that I was comfortable with, and that was relatively profitable. This article is about my trading strategy and its performance during the month of June 2014.
    THE STRATEGY
    It is a trend-following system that uses the 20-day Exponential Moving Average (EMA), 200-day EMA, 84-day (Commodity Channel Index) CCI and 18 -Time Period (Time Segmented Volume) TVS.
    Entry Rules
    Long trade conditions:
    1. Buy when the hourly candle closes above the 200-day EMA
    2. The 20-day EMA is pointing upwards and below price
    3. The TVS indicator is above the zero line
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    Tinktank avatar
    Tinktank 17 July

    Very nice! Best of luck this month

    CD1V1 avatar
    CD1V1 17 July

    well done, i can see you in 7th place. Good luck this month.

    dej avatar
    dej 18 July

    your strategy is simplified enough even for a novice. it shows in-depth understanding of price action in relationship to support n resistance levels. very useful .

    Panzer avatar
    Panzer 30 July

    Your strategy have nice look for trading :))

    MyiDEA avatar
    MyiDEA 31 July

    Very nice

    orto leave comments
    12/26
    Ranking
    You should keep a trading journal of every trade you make! Backtest every system for at least 1,000 trades! Brush your teeth before bed!
    All of this is sound advice. However, how many traders actuallyfollow this advice? Do you? I would bet that less then a third of you reading this article keep a trading journal. Don’t get me wrong, I’m not special. I didn’t keep a record of my trades during the first few years of my trading career. This changed one year ago. Here are the tips that helped me to finally create this habit. These rules are not specific to trading and can be used to build any habit in any area of your life!
    The 1 Minute Rule

    How do we get on the path of building a habit? This is where the 1 minute rule comes in! If your goal is to keep a trading journal, at
    the end of every trading day, take one minute and write down your trades. Even simpler, at the close of trading just write down 1 sentence. This could be your best or worst trade of the day, your trading mood, or a combination of both. Here’s an example:
    ‘’May22nd: I took a signal where there wasn’t any and I proceeded to lose$400 as the AUD/USD moved against my position’’

    Based on a true story. Okay it IS a true …
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    Elani avatar
    Elani 9 June

    Very useful article!

    FxMidaso avatar
    FxMidaso 10 June

    Useful article. I have the same problem, I anticipate a signal and then make a trade only to realize that the signal didn't come and i have lost trade. hmm....

    fxsurprise8 avatar

    Thank you kind sir and madam :)

    Olga18375 avatar
    Olga18375 21 June

    wow! very interesting article!!! well done!!

    orto leave comments
    12/35
    Ranking
    Well, after my first article Importance of Trading Journal I decided to write part 2 to say more about this theme. I will try to keep it clear and concise.Basic parameters:date, time and prices of entry and exitpredefined SL, PT and risk reward ratioactual risk reward ratioentry setup, timeframe, currency pair, position size, sideconfluence factors, market condition - trending, range bound, choppy (sideways)emotional state and mood before and after trading session (I recommend to distinguish these compliance as good - green and bad - red)note before trade - description of trade, emotional state, compliance with trading plannote during trade - moving with SL and PT, exiting trade, progress, emotional statenote after trade - summary, emotional state, compliance with TP (yes/no, if no - why)trading goals (more about this later)database of screenshotsequity curvesaccount statementYou may add:daily viewpoint (I'd trade EUR/USD today only with trend, I wait for breaking S/R level etc.)database of trades which you failed to take (e.g. because of fear even it suited trading plan)statistics - W/L %, average losses and wins, drawdowns, average gains and losses etc.whatever else you like to k…
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    SpecialFX avatar
    SpecialFX 23 Sep.

    Even though I do not use a trading journal, I still think it can be useful to many traders, especially the ones who do not follow a mechanical trading system. However, I do not agree with the bit about setting fixed goals. Your goal should be to trade the best you can, and as consistently as possible, and then collect whatever the markets give you, it can be +5%, +25%, or even -10%, if the markets in a particular month were not compatible with your trading approach. If you always try to get 10% every month (regardless of market conditions), there will be times when you will force bad trades :)

    alifari avatar
    alifari 24 Sep.

    My trading has changed immensely since I started keeping track of of my trades - good read

    captain avatar
    captain 27 Sep.

    A trading journal is a good step towards disciplined trading.

    orto leave comments
    6/67
    Ranking
    Here we can see some winners and know why they are winners; there we can see too many losers but we don't know why... IntroductionOne of the major factors that separate the successful persons from the unsuccessful ones is the way both of them will look at every experience,  being this experience good, not so good or bad. In this situations there are the ones who can find something to learn , gain some knowledge and consolidate their background. In other side, there are others that jump from experience to another experience without learn not so much from what is possible to learn from that experience, or they can't get anything useful at all. To get the most value from this events we need to review them after their end, because at the moment they occur maybe we don't have all needed information to review it.  Transposing this ideia to the trading forex world, what may differentiate a profitable trader from a unprofitable one is the way each one see each trade made, the openness to learn from that trade and the effort in documenting it. When the trades are well documented, we can review them anytime if we want to see what we are doing well or wrong. If we document each trade we make …
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    RobertBric avatar

    Novice traders chase strategies with more winning than losing trades. It is a death trap in most cases and a cause of frustrations. More winning than losing trades doesn’t automatically increase the chance of the strategy being profitable. It is a good starting point but…there is more. What is important is the expectancy. I may address this in a future article as many traders don’t understand this concept. Many professional traders are profitable with W/L ratio of 1:2 and many novice traders are losing money with W/L = 2:1. Go for positive expectancy!

    jlongo avatar
    jlongo 5 May

    @Robert: You are completly right, and i refer that, but just some words about W/L ratio. But to know what we may expect from our trading plan/strategy and if we need to change/adjust them we need to know what we are doing. The only way is a trading journal more or less complete (maybe we need to change what we record along the time).
    Thankyou for your words and i'm waiting for your article.
    Best Regards.
    Trade well and good luck!

    doctortyby avatar

    A trading journal is a "Must" in any trader's business plan. But more important, Market Conditions change all the time and the entry/exit decisions for one trade or the other have to be connected with the fundamental and technical market conditions for that certain moment when it took place. there is no such thing as on successful strategy for all the market conditions as they are different for every period given. Good luck dear Jlongo, keep it up

    RobertBric avatar

    @doctortyby. If you ever looked at the correlation between the fundamentals and the market situation/reaction you would see there is no firm correlation. In most cases there is none. Over a long enough period of time, of course!
    Good examples are big reversals in currency pairs. They happen in the opposite direction that the fundamentals show. It is against the logic but if financial markets were logical then all logical people would be rich from trading but they are not. For example: EURUSD is supposed to be going down but it will (most likely) first go up for quite a while. Check COT report

    CASPI avatar
    CASPI 9 May

    Been very useful. Registration was holding. but there was a lack of order. Helped. Your article is helpful. good luck and success ...

    orto leave comments
    50/65
    Ranking
    Are all people suited to and therefore likely to excel in the same jobs or careers? Are all people suited to and therefore likely to excel in the same sports? Are all people suited to and therefore likely to excel at playing the same instrument? The answer of course is no. So are all people suited to and therefore likely to excel at the same style of trading? Of course, again, the answer is an emphatic no. There are many different markets to trade and many different ways in which to trade them. One of the key developmental goals of any trader is to find the style of trading and market that best matches them, their personality, goals and motivations and trading philosophy. A question I am often asked is “How do I know if I am trading the best market and style for me?” The same question could be asked regarding employment choices, an academic subject being studied, or a particular sport being played. Where traders are working in teams or are part of an organization, there is the possibility of getting external feedback from trader managers, trainers and coaches. This can be extremely valuable, not least because past experience and historical studies can be used.A further area that I …
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    AdrianWS avatar
    AdrianWS 4 Jan.

    It is definitely useful to have a trading journal, emotions are one of the hardest things in trading.

    LinnuxFX avatar
    LinnuxFX 25 Jan.

    Well done, good luck... See my article and if you want my Scalping Tool for Testing ask for it in comments...

    orto leave comments
    57/94
    Ranking
    Keep track of all your trading activities in a trading journal. Doing so eventually turns your trading journal into a reference manual that can become an invaluable tool for helping you recall what you’ve done to identify what works and what doesn’t. A trading journal also can help you analyze your trades and trading systems to determine which aspects of trading you do well and which ones you need to work on. When you develop a trading system, save ideas and test results in your journal. When you enter a position, record everything about the trade. Include your thoughts as you contemplate making the trade. When you have a what-was-I-thinking moment later on, you can find the answer in your journal. Using a loose-leaf binder to hold your trading journal is probably best. Print before and after charts for each trade and include them in the journal. Keep detailed notes about each trade, and about the system you used to trigger the trade. At a minimum, your notes need to include the following:✓ Trade date✓ Currency Pair symbol ✓ Number of lots and why you chose that number of shares ✓ Whether you bought long or sold short ✓ Which system triggered the entry signal ✓ Which…
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    Livornese avatar
    Livornese 11 Sep.

    Kula bula!!! One point from me bro!

    ante777 avatar
    ante777 12 Sep.

    Good article. Good luck.FOREX POEM on the same contest is awaiting your comment if you like it.

    LinnuxFX avatar
    LinnuxFX 15 Sep.

    Some images will help your article, commet mine here : http://www.dukascopy.com/fxcomm/fx-article-contest/?action=read&article=Dukascopy-Colosseum-&id=144

    quantum_fx avatar
    quantum_fx 19 Sep.

    interesting! I also have ideas for a trading journal, but still have not such one

    doctortyby avatar
    doctortyby 23 Sep.

    The trading journal is a must... it must contain your trading methods, strategies, systems, trades, reasons for winning and failure... This helps you to keep your emotions away from your trading. +1 and trade well

    orto leave comments