1. THV V3 indicator
-Indicator you can get here http://www.forexfactory.com/showthread.php?t=127271
2.Moving Average 24 (HLCC/4)
3.Moving Average 120(HLCC/4)
4.Moving Average 480(HLCC/4)
5.Moving Average 8(HLCC/4)
6.Moving Average 4(HLCC/4)
I will Focus on pair GBP/JPY
MY DAILY GOALS
1) Try to get at least 100pips and Get USD50 daily
2) Take risk 5% each trade
3) Never change Stop Loss that I already setup
4) Break even or lock at +1 when in 20pips profit
5) Always put Trailing Stop after in profit condition
MY VISION
1) Discipline with my rules
2) Positive thinking
3) Positive mindset and attitude
4) Act with my own best interest
5) Responsibility the result taken
6) Learn to accept the risk
7) Mental flexibility (flow with the market and cut my losses)
8) Make myself available to take advantage of opportunity
9) Action on my belief
10) Remove negative charge mental (fear, pain, anger, frustration)
11) Don't afraid and hesitation
MY GUIDELINE IN FOREX
1) I objectively identify my edges
2) I predefine the risk of every trade
3) I completely accept risk or I am willing to let go of the trade
4) I act on my edges without hesitation
5) I pay myself as the market makes money available to me
6) I continually monitor my susceptibility for making errors
7) I understand absolute necessity of these principles of consistent success and therefore I never violate them
MY PROBABILISTIC MINDSET
1) Anything can happen
2) There is random distribution between wins and losses for any given set of variables that define an edge
3) An edge is nothing more than an indication of a higher probability of one thing happening over another
4) Every moment in the market is unique
TWIN TRADERS: RISE OF THE RICH KIDS
Two City traders aged 25 are on top of the world with stellar incomes. They tell Jonathan Milne how it’s done
Monday morning and Lawrie Inman, a confident young east London-based futures trader in T-shirt and trainers, is in his Bishopsgate office at 6.30. While the interior designers are redecorating the three-bedroom Shoreditch apartment he has just bought, and installing an Xbox and table football in the games room, he is hungry to start making money. And make money he does: last April he made £700,000 in one hour.
How? By watching a televised speech by the chairman of the European Central Bank and realising that there would be no increase in interest rates. While others waited for confirmation Inman jumped in and cemented some long-term trades. Now he grabs a bowl of Rice Krispies and a banana, powers up the seven monitors that surround his desk, and prepares for a deluge of data.
The European markets are about to open, and today could be another seven-digit day for him on the German government bonds market. Across town New York-born Adam Grunfeld is starting his day at a more leisurely pace. Dressed in tidy blue jeans and a polo shirt he glances at the two screens in the study of his rented Covent Garden apartment while he prepares breakfast.
He won’t stroll over to the Mayfair offices of his hedge-fund employer, Comac Capital, till later. For now, what will it be? Currencies, interest-rate swaps, metals — or today, perhaps, German bonds? The two 25-year-olds have never met, but their worlds collided when both were named last month in a list of the world’s top 30 young traders. They were the youngest, both based in London, and thought to be earning up to £1.5m. They were both born on May 14, 1981.
The City of London has always been a place where fortunes are lost and some are made. And the men who do it have always held a unique fascination for mere mortals struggling by on salaries that wouldn’t even cover the Pétrus bill of a City high-flyer.
First there were the stuffy pinstriped gentlemen traders, tottering to work through the mist on Blackfriars bridge with umbrellas and bowler hats. Then after the big bang in the 1980s came the much-loathed Gordon Gekko yuppies; dead-eyed asset-strippers and loadsamoney wideboys as unacceptable a face of capitalism as ever there has been. Both these groups are still alive and well in certain EC postcodes, but as bonuses yet again reach record levels within the Square Mile, the City is changing faces once more. And if there is a face of the modern City, it’s represented by Lawrie Inman and Adam Grunfeld. Grunfeld was brought up in a comfortable Jewish household in the New York suburb of Scarsdale, surrounded by kids who never doubted they were headed for Ivy League universities and professional success. His maths teacher set the class the task of investing play money on the market for two months: Grunfeld bet everything on stocks that were at a 52-week low — and failed dismally.
He furiously vowed never to mess up so badly again. At Stanford University in California he took on his preppy contemporaries at Yale and Harvard in another competition and beat them all with a 500% return. He was plucked from the graduate programme, parachuted into a leading hedge fund, and posted to London. Overlooking the genteel streets of Mayfair it is clear he isn’t quite able to settle into the role of pacy City lad.
Though he will go out for the occasional drink he hasn’t found a taste for English bitter. Instead he spends his evenings watching his American football team, the New York Giants, on television while waiting for the US exchanges to close. Inman, by contrast, grew up the son of a taxi driver in Wales, reading the market pages in his dad’s red-tops. In his late teens he worked alongside dad at a Gibraltar race-betting agency, learning to recognise the punters with a track record and occasionally slipping a sly fiver on whichever horse they had backed. He might have become a professional footballer after his Swansea team won the universities title. The local newspaper reported one game in which he was knocked out and stretchered off the field. More often it reported him scoring.
But Inman could see his younger brother already making it big in the markets and followed him in. “I have a real will to win. I hate losing,” he says. “We’re like footballers. The company knows that, at my age and having the money I have, I could quite easily go bananas and blow it and be left with nothing. So the company (Marex Financial) has looked after me and protected me and put me on to financial advisers. It’s a very similar support network to a football club.” Their routes to the top could not have been more different — but now that they are there one thing keeps both of them hungry: “The buzz is not so much the money — it’s the feeling of vindication. That I was right, that my hard work has paid off,” says Inmam, who drives a black £72,000 Porsche 911 997. In such princely lives there is only one real concern: how to spend it.
Taken from : http://www.timesonline.co.uk/article/0,,2105-2389806.html
A Bear Chased Two Hikers.
One hiker, while being chased, stopped to put on running shoes.
As he was changing out of his hiking boots, his companion looked at him in horror and exclaimed, “What in the world are you doing? You’ll never outrun the bear if you stop now!”
Calmly, the other hiker said, “I don’t have to outrun the bear. I just have to outrun you.”
The forex market offers more opportunity for fast financial success – and financial ruin – than almost any other market. The get-rich crowd has always been attracted to it. This crowd includes speculators, trading novices, retirees, and professionals looking for a way to get out of debt, increase the excitement in their lives, or simply get rich really fast.
These are the people who you will be taking money away from. These are the people who will be eaten by the bear. You don’t have to outrun the bear (the entire market). In fact, that’s impossible. You can’t beat the entire market. Those of you who try will learn fast that the market has no mercy, can outrun anyone, and shows no mercy.
The Four Groups
There are four groups in the forex market. There are the novice traders – the greenies, the ones who try to outrun the bear and lose every time.
In addition to the novice traders, there are three other levels of participation in the forex market: the dealers, the institutional traders, and the advanced traders.
The dealers are the most powerful and they make the market, setting prices and putting together deals.
The institutional traders work in banks, wire firms, or government agencies. They trade huge amounts of money at a time, and the size of their trades gives them enormous power.
Next, there are the advanced traders. This group is comprised of people from all across the world, sitting in smaller investment firms, offices, or even their homes. You can be a part of this group. In some cases, the advanced traders are the smartest group – trade for trade – than any other group. Because they don’t move a lot of money on each trade, they don’t have as much power as the institutional players. Because their trades are brokered by the dealers, they’ll never have absolute trading power. But, because there are so many novice traders – the advanced traders have plenty of people that they can outrun. Your goal as a forex investor is to aggressively take money out of the pockets of the novice traders.
Don’t feel bad about that. Someone’s going to take your money along the way, and it’s going to teach you, very quickly, lessons that can only be learned through failure. So, every time you take money from a novice trader, just remember: you’re teaching him a valuable lesson. After a while, you might even enjoy watching your hiking companion being eaten by the bear.
Source: W.Rob Booker & Co.- Strategy 10: Low Risk High Return Forex Trading
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