Kunci Menyusun Rencana Trading II Keys to Compile a Trading Plan
Before I close it, is there any question? So that I won't explain mix materials later Tomorrow we'll focus on Technical analysis *Opening Music* "I wanna ask, sir" Yes, please "I'm Mr. Hafid" Yes "I have some questions. The first question is about determining the rational target" "Based on the explanation, the target was limited, right?" "How if the Trend is in a good condition? Must we cut the profit based on the rational target..."
"...or can we let the profit still run?" "That's the first question" "The second is related to Time Frame" "I think it has relation with budget" "If we have low budget and we do Trading at *Unclear voice*, maybe it isn't suitable" "Maybe you can give me the example of how much budget which suits on each Trader's style?" "That's the second News" The third is about planning. "I've tried to determine the Time Frame, from daily, how much the Trend.."
"Then, what time.. after that we enter it at H5" "Can you give me how to do ideal order and exit? so that we can get the target" "The fourth is about limiting the loss" "It depends on the pair too" Yes "For example, we limit the loss using Pips or another.." "Because, at some pairs (like GOLD), the movement is quite fast. So, we get loss and profit easily" "for another pair, sometimes it isn't touched during the floating" "Maybe do you have your own tips and trick? Can you share it to us?" "That's all. I hope I can be more understand. Thankyou"
Well, thankyou. That's good question It's many. We'll discuss it The first question is related to target. Then for second question is about ideal budget Of course it depends on the capability and target Then, the third is about planning Then, the fourth is limitation I try to discuss it one by one The first is target Rational target The temptation is... The difference is do we want to survive in Trading for a long time or no? What I mean by target is to reach the goal When the target is reached.. For example, the target is $20, turns out, it rises to $25 or $30
What will we do? Because the moment is good There is no good or bad moment. Our goal is to be discipline Good or bad depend on how we control it. The important thing is being discipline! So, after reaching the target, we break. It finish.
There is still tomorrow The function of this is to practice our discipline The impact of discipline can affect psychology If we let it continuously, our psychology can be agitated There will be wild psychology later Because we always feel less. No matter how much the profit, we'll feel it's less. We don't know the limit So, the most important thing is we must apply discipline If the target is $20 and it reaches $19. Then it's hard to increase. Turns out, it's more than $20 Always be discipline first What is it for? To practice our skill and make our psychology becomes stable If it's stable, we can get consistent profit with the same target, We can rise the target after we test it We still get profit after it's tested by doing much transaction and facing extreme market Same with the target. It's around $20 It could be $18, $15, $20, $25. the important thing is it's around $20
Because there is no fix price After getting the target, close it. After we close it, don't order again at night! No. Learn to be discipline Because what we need is consistency. Not small and big profit If we want to reach the big profit, we won't be discipline We must understand this If you can control it. You may raise your profit target up
The most important thing is be discipline first! Because it's to practice the patience and focus So that we'll get used to it Next, it's related to budget and Trading type What's the ideal budget? Ideal budget also depends on the pair we use What's the character of the pair we use? Actually, there is no fix ideal budget The most important thing is adjust it to our own target For example, my daily target is $100 If our daily target is $100, we can't make the numbers ideal. Because the target is big So, adjust it to our target If our target is only 1%, of course $1.000 is ideal It's ideal in the main pair (the pair which can be used generally), like EUR, GU, GJ, XAU Why it can be applied at XAU too? Once more, the most important thing is our target and we know our risk limit If we want to get $100 in a day, we must adjust it If the target is $100, the budget is 100 : 1 x 100 = $10.000 That's how to count it Don't use $1.000 or $2.000 for the budget
Go back to our target. It's for high safety. If our target is $50 per day, If we take 1%, it's 100 : 1 x $50 = $5.000 So, our budget is $5.000 So, it's still ideal Another example.. Sometimes, we want to use the profit to cover the daily needs We count all of them. I want to focus on Trading We count monthly needs, like food, car installments, and so on.
Then, the total of monthly needs is IDR 20 million or $2.000 Then, how many budget I need if my monthly needs is $2.000? We take the work days is 20 days So, we must get $100 per day If we get $100 per day for 20 working days, we'll collect $2.000 in a month One day get $100 We count the budget 100 : 1% x 100 = $10.000 The budget is $10.000 why is it too much? If you don't want to use lot of budget, raise the risk! You don't want to get 1%, you want to get 2% target per day. That's ok.
Depends on our capability When we learn it at Demo account, learn it gradually We must test the 1% repeatedly. Hundreds of transactions Until can get consistent profit in a long time If we can be consistent continuously, we can raise our level to 2% What's the difference? Of course our budget is less than before If it's 2%, the budget is 100 : 2 x 100 = $5.000 The target we reach is 2% per day Is it realistic? It's very realistic Of course it depends to our capability and skill Then, the third is about planning You've told me about your planning, the time, the pair Of course, it isn't always in certain time But there are crowded time if we want to take plan There are EU, GU, GJ, XAU If we see this pair, there are some crowded times. We must know the opening time The opening time of Asia, it's at 4.00 AM - 12.00 PM
Asia is Japan, Australia, New Zealand All of them in the morning The next is America market It opens at 7.00 PM - 3.00 AM Then, Europe market opens at 2.00 PM - 10.00 PM Now, which one we choose? If we take GJ, it's Japan. It's morning market. It's crowded in the morning Then, for Europe, it's crowded in the afternoon If it's Japan, it will be crowded in the morning The movement of GJ is crowded in the morning or EUR-JPY or USD-JPY If you use Asia market, you must know when the opening time Then, for Europe element. There is EU. EUR-USD GBP-USD. There are Europe and America The crowded market is the meeting between the Europe and America It's crowded at 7.00 PM - 10.00 PM
That's if we choose Europe and America XAU follows America It's America's market. It's 7.00 Pm - 3.00 AM Usually, in the meeting of America and Europe too It's between 7.00 PM - 10.00 PM Usually, it's still quite crowded at 12.00 AM. That's XAU
However, it's not always at that time There is time steal the start. Sometimes it's crowded in the morning or in the afternoon If it's crowded in the morning, usually, it won't be crowded at night If it's crowded in the afternoon, usually, it won't be crowded at night Usually, it starts since Europe enter the market when Europe enter it, the market starts to move longer Europe enters the market at 2.00 PM 2.00 PM WIB It starts to move long Then, how about the profit target? If we use Sniper style in EUR-USD, then the target is 80 Pips, it's good.
I'm sorry. If it's in the EUR-USD, the standard is 60 Pips GU is 80 Pips GJ is 80 Pips Then, the XAU is 100 Pips This is the fastest, we take the sort-term There was also a question about ideal budget The ideal budget is also same. The point is we use our target Later, we'll find the risk limit How about the risk limitation? How about risk limitation at EU, GU, GJ, XAU? The safest is by using Support and Resistance We'll discuss limitation at Technical analysis. Because we practice it directly It'll be hard to be answered if in the theory class We also can use Pips. Usually, EUR-USD is around 150 - 250 Pips GU is between 200 - 300 Pips GJ is 200 - 300 Pips XAU is 500 - 700 Pips You may try it using these numbers or Support and Resistance But I tend to use Support and Resistance because it follows market's dynamic Well, thankyou for the question. I hope you feel satisfied with the answer We'll discuss this on the next meeting. In practical
We'll discuss some of the questions in the Technical analysis material That's the answer. I hope it answered your questions At least you have an overview to do Trading Thankyou for your attention, we'll end this class I hope it's useful. We'll continue it tomorrow. I'll share the link later Thankyou, good night. Assalamualaikum Wr. Wb.