Jangan Mengharap Lebih Dari Trading Forex || Don't Expect Too Much in Forex Trading
Well, that's about the review. Next, you can ask me if you face problem. So that there is feedback from you and I can explain it to all of you. *Intro* Next, we'll discuss about candlestick or price action Even though it isn't our priority, but if we understand it, it can prevent us to take order in the incorrect position. Because the most important thing is how we control our emotion or psychology management What cause our emotion unstable? First, it's because of high expectation with the profit target Too high expectation is very dangerous So, we need to determine target The easy target It means that realistic target and easy to be gotten It's not about having $50 for budget to get $50.000 like in the ads
We just need to top up and get $50.000 profit potential I say that there is potential, but to reach $50.000 using $50 budget isn't easy Because the ads misleads newbie The ads makes newbie are hypnotized, so high expectation comes. Early budget is just $50, but don't see it! We must pay attention to the top up The ads is nonsense But, many people think that it's real. So, they top up with low amount of budget. Next, they're addicted. They can't leave it.
They will top up continuously. They get lured with with high return From IDR 100.000 for the first top up, it could be billions. It's because of ads. It really misleads many people So, you need to be realistic If our budget is low, we must realize that the potential is also low. Then, we can survive in a long time. Last night, we've discussed this a lot. Then, how much the realistic target? I often said it. For newbie, you may take 0.5 - 1% profit per day
Of course you must test it in the demo account first. Even though you use demo, just assume it as real account. Except if you have lot of money, you may practice it using real account. It's up to you. But for me, it's better to learn trading using demo account first Next, if we can get consistent profit and we've tested it in a long time, we can increase the profit to 2-3% per day Can't we use high risk? We can. We may use high risk. High risk = high return. But, we must realize that.. If we can't control it well, all of our budget will run out quickly So, you need to determine the realistic target.
Next, to make us control our emotion.. We need to learn in making clear trading system and suit for us. What is trading system? We discuss it in the second part It's still related to psychology management. Second, it's about trading system. What can we get from trading system? We will prepare how to order and exit We'll discuss how to order in technical material First, you can read the general direction of trend. It's better to follow the trend There are 2 trends; small trend and big trend In making trading system, we must master technical If we don't master it, it's hard to read the market.
Second, learn the closest SNR a lot. I always call it as psychology level Including the retracement area After that, we determine the trigger We can see the breakout, changing color candle in SNR, 2 long rejections, 2 confirmed candles, or running candle correction What I mean by running is when there is high volatile It's to know how to order and exit If we master it by rote, we don't care whether the market will rise or go down. The important thing is we read current market We use the same way in analyzing the market in any conditions 'I just want to take position when the market qualifies my rules' What are the rules? The trend is in line with the rules, the SNR aren't bumped there, and the trigger qualifies the rules. We must master it. If we only master it 1-2x, we can't. At least, we test 1 trigger for 100x transactions The more the merrier If we try the same trigger many times, we'll know the advantages and disadvantages So, this area is including in how we determine the order and exit ways It's categorized in trading system.
At the beginning, I've explained that.. to control the psychology, don't expect too high! Determine the realistic target. Second, it's about trading system. Master how to order and exit Next, besides we learn how to order and exit, we must know about money and risk management How to determine the Lot, how to control the loss. It must be clear. We count the Lot based on our budget capability. Then, how's our trading style? Short/middle/long-term? It really affects our trading system and budget. We must really understand it.
Even we must do more recovery. Because recovery is a part of the way in minimizing the loss Because the most important thing is how we do recovery Even though we've done analysis deeply, there will be slip rate. Even though our analysis qualifies all the rules. Because what we do is reading the biggest probability. It means that, it's not 100% correct. If we read technical, doesn't mean that if there is Doji, the market will reverse. Don't think it like that!
We must really understand it. Why do we always repeat the material? Because this becomes the basic Not only Buy and Sell. You don't know management, analysis, and psychology.
You just wait for the clue from them. Them who? They who give you Buy, Sell, buy Limit, and Sell Limit signals And you follow the signals because you don't really know it. The recruiters also don't know trading technique and risk management. Because they just want you to top up When you do it, they will get commission. Meanwhile, you just get signals from them While when it's floating, they know nothing. Maybe they'll look for help to do recovery We can do recovery when the loss is reasonable.
If we get loss 50%, it can't be recovered. We just can do cut loss. Because it doesn't have enough durability. If the durability runs out, the budget is 50% left, then you don't know how to do recovery Because you just wait for the Buy and Sell signals. At the end, they just want you to wait for the market until it becomes green or blue. Then, you can close it.
Turns out, the market is red. Then, they will call you at night. Why? Because you'll be panic at night. You will be asked to do top up again. If not, your budget will run out. You are panic. You'll try to inject more budget.
It's because you don't know the mindset and concept. What you know is just lures. So, before you understand the trading system, don't you follow signals like that! It's better if you learn trading by yourself slowly. You'll feel how if the market reverse. So, you need to practice it a lot, learn to determine the order and how to do recovery It's included in controlling trading psychology So, we'll do trading calmly when we master the technique and field.
We don't care whether the market will rise or go down. But, why do we must wait for the right opportunity? If we wait for it, we won't face long floating. Waiting for minus floating is different from waiting for opportunity. If the opportunity is good, we won't face long floating.
it's different when the market is still flat and we force ourselves to take position. Therefore, we'll get long floating. That's all about mastering trading system Every people have different trading system and technique. They can use breakout, changing color candle, 2 long rejections, 2 confirmed candles or running correction in high volatile. If we don't master it, we'll be controlled by others. The budget is from us and they get commission.
Poor us. The controller will get rich. Poor the investor. Even many people tell me that they want to do suicide Just because the budget almost run out because of top up continuously. Because they don't know what's the real condition of trading. Third, it's related to the risk We always prepare the risk limitation No trader who can read the market 100% correct. So, we need to limit the risk.
You can limit it 1-2%, 500 Pips, or using the closest SNR for the risk. We can determine it in many ways After we've done all of them, don't forget to be discipline Be discipline with our trading system, targets, and our trading style. Don't forget to write a note! I hope this remind you who ignore the steps This becomes the most important thing part. We must prepare it before we do trading.
Next, go back to the technical. We determine the order point. How to read the market movement? First, we can see the trend We can see the trend visually The way we read the trend is same for all time frames. The main trend is the closest from running candle by not ignoring the long-term trend. Next, understand the candle character We must pay attention to the last 3 candles. We'll see the character and impact
After that, we see the last candle before running candle What we see is the character How to read candle character? Pay attention to the wick - body - the ratio between wick and body For example, the body is long like this with short wicks. So, the momentum will be stronger If it's green, it's Buyer momentum. If it's red, it's Seller momentum If there is short body with long wick, we compare them. We don't care about the color.
The point is, we compare the wick with the body. Which one is longer? If the wick is longer than the body, we see where the wick is. If it's on the body, it's Seller rejection. It tends to go down. If it's under the body, it's Buyer rejection. It tends to rise.
We don't care about the color. the most important thing is the rejection. Because rejection forms that the candle isn't accepted After we read one last candle character, don't forget to read SNR or the closest psychology level and we must know this. If not, we can't project where the market will stop. We'll think that it reverses, but it rises.
It's because we don't know the SNR. This is in the Support area When it rises, we think that it reverses. Because it close to the resistance Turns out, it breaks out. So, it's much longer. That's about the closest Support and Resistance which must be attention Including the Retracement Retracement is correction area Correction is at 50% of dominance area. If we use Fibonacci, it's at 50-61.8%
Usually, I use it 50% Retracement is resist from big direction. The market tries to resist. If there is up trend, it tries to resist. But, it's not more than 50% If it's just like this, this is correction If it breaks out, it could continue and reversal from rise to go down long That's about SNR. Last, we see the trigger. There are many triggers. If you need my notes, you may ask me. Why don't I explain it using my notes? Because I want to explain this directly Trigger is the basic reason to take position Well, we learn candlestick again.
I start it from... to be continued...