10 Basic Errors of a Newcomer in Trading

1. Trading when market has just opened
Within the first several minutes after opening, the market usually moves about or jumps somewhere abruptly. Experienced traders sometimes try to use their knowledge to forecast by the first market movements what trend is possible. But emotions will certainly play tricks with a newcomer.

2. Undue hurry in taking profit
Well, you opened a long position. Then, after a couple of days, you saw how much money you had earned and closed the position with joy. But this movement, as you would have gathered later, was just the beginning of a powerful up-trend. So, if you would not haste, you could earn 10 times more money. Use TakeProfit orders only on extraordinary occasions, when the resistance level is clearly seen. Normally, it is better to exit the market using StopLoss and trailing stop.

3. Adding lots in a losing position
This is a reverse example: you opened a long position, but price decreased. You doggedly insist on that "it would still grow, I just opened the position too early" and add by buying more lots. But the price goes on dropping and twices your losses. Remember: You should only add lots to a profitable position.

4. Closing positions starting with the best one
If you have some long positions and the price starts to decrease, you often instinctively try to fix your profit first and only then close losing positions (or let it work until the StopLoss triggers). This is a wrong tactics: If the whole market decreases, those positions will most probably lose that have already been unprofitable. But you have already had losses on them. This means you should close them first of all. Better positions will not fall so rapidly and, in case of a reversal, they will go up again. So do not haste to close a profitable position.

5. Revenge
A typical situation for a newcomer: A losing position has just been closed - and he or she starts opening new positions enthusiastically to requite the wrongs. This will result in new losses, so do not return to trading immediately after having lost. Rest a little.

6. The most preferable positions
Approach reasonably to your positions: Do not care especially for some of them, for example, for those where you bought at the lowest price - every trader is usually especially proud of such trades. It is clear that you are puffed up with self-admiration, but be careful and do not carry such a brilliant position to zero or even to minus.

7. Trading by the principle of 'bought for ever'
You were working on a relatively short period of time, opened up, and prices went up tremendously. And you say to yourself: "Aha, I've caught the start of a many years' up-trend", and hang this position "for ever". But things do not just happen: you either change essentially for much longer estimation periods or keep standard rules on your standard short period. Rules that will make you enter and quit the market even if there is a really powerful trend. Do not "marry" your position!

8. Closing of a profitable strategic position on the first day
Vice versa, if you trade not within a day, do not close a profitable position on the first day under no conditions. If even the price has been grown to a very high level, be patient: it can be higher tomorrow.

9. Closing a position when alerted to open an opposite position
Many trade with systems of continuous entering the market. These systems are always "inside of a position". This means, closing of a long position means for them opening of a short one. One can use such positions, but they must be closed earlier: the signal to close must be of higher priority than the signal to open an opposite position.

10. Doubts
You should not trade if you are not sure of your previous situation assessment. Having said to yourself "I'm sick with vague doubts", you should better close all your positions and reanalyze the situation. Or go for a walk. The latter recommendation is actual in all difficult cases, by the way. It helps for all diseases - try it yourself!

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Nasihat Seseorang Kepada Saya ...

Salam semua .....

I would like to great to all reader of this blog that you have came here and read some sort of valuable information regarding about forex trading.

By the way .... as mentioned in the previous entries, this blog and its articles, nevertheless, are my experiences of what I have been doing in learning forex trading. I am lucky to stress here that my experience will never be as your experince. My puzzle of unknown is not same as your puzzle of unknown. 

Therefore, this blog and its article should not be your source of learning. You should find "guru" and some one who can mentor you to be a good trader. I am not a  good mentor trader nor becoming a wiseman to be your mentor. I am still learning and in learning process. I am still a newbie.

Hence, I would like thank to all of you who come here and read my article. BUT, please do not use this blog as your source of learning .....

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Boleh lah sikit-sikit cakap omputih.

Pada 1 Disember 2011, salah seorang yang saya amat berterima kasih kepadanya telah menghubungi saya melalui telefon, Forexexcel.com. Terkejut juga bagaimana dia boleh dapat no tel saya. Setahu saya, yang ada maklumat saya adalah sifu WHA*** sahaja.

Baru saya ingat, saya pernah menghadiri seminar percuma yang dia berikan mengenai forex trading, Yang telah membuka minda saya tentang apa itu forex trading yang sebenarnya.

Kalau kita baca sahaja, ia tidak sama dengan cara kita datang dan dengan sendiri. Rasa puas dan jelas selepas mendengar seminarnya.

Dia pun bagitau yang dia terkejut sebab saya ada cerita pasal forexexcel dalam blog saya .... memanglah.... orang berbudi, kita perlu berbahasa. Dia pula tak sangka ada orang yang pergi belajar dengan dia yang bila ditanya dari mana tau pasal forexexcel, diberitahu yang dia dapat maklumat dari blog Riwayat Hidup Anak Padang.

Sukacita saya maklumkan bahawa anda DINASIHATKAN TIDAK MENGGUNAKAN maklumat-maklumat dalam blog ini untuk tujuan pembelajaran forex anda.

Blog saya hanyalah berupa simpanan nota-nota pembelajaran saya. Ada pro dan con`s. Ia buka pembelajaran atau urutan nota yang sistematik untuk pembelajaran. Hanya nota simpanan yang berterabur dan kecamuk.

Ini kerana Bank Negara Malaysia memantau semua blog-blog yang memaparkan pembelajaran dan tips-tips forex.

Oleh itu ..... kalau anda ikut nota-nota saya .... pasti anda akan GAGAL .....

Bila Waktu Nak Guna WISEMAN 1 dan WISEMAN 3

Wiseman 1 adalah lawan trend. Kalau nak guna W1 ni sebagai teknik awal masuk ... nak makan pips banyak la konon .... kena mahir New Trading Dimension dulu.

Bila dah mahir dengan New Trading Dimension punya pendekatan, baru boleh turun ke W1. New Trading Dimension punya pendekatan bermula dengan Wiseman 3. Means ia adalah Fractal Breakout teknik.

Ha ......... kalau macam kat bawah ni baru boleh makan pips besar kalau guna W1.

Namun yang perlu aku pesan buat diri sendiri untuk masa depan ialah Wiseman 1 elok digunakan kalau aku guna TF yang besar. Long time punya trade sepeerti 4H atau 1Day punya TF.

Kalau guna time frame 1H ataupun 30M, elok tumpukan Wiseman 3 je la ....

Itu lah setakat ini yang aku dapat. Tak payah dok gegalak nak guna W1 yang konon-kononnya nak makan pips besar. Setakat Wiseman 3 pun dah banyak dah makan pips.

Kalau guna Wiseman 3, seelok-elok waktu trade ialah hari RABU dan KHAMIS saja. Masuk depan komputer pukul 8.00 malam. Waktu lain aku kan kerja .... pair EU je.

kalau lah aku dapat disiplinkan diri dengan peraturan ni ..... setakat ni, dari 87 usd dah jadi 120 usd. pips 1 = 10 sen. Untung tu kira dari Mei-11 hingga Jun-11. Termasuk juga lost dan bagi makan kat broker. Kira pi dan kira mai ........ setakat itulah untung nya.

Kalau mengira jumlah pips yang dapat sebulan ... tidak ditolak pips yang lost ... kira -kira boleh dapat 200 - 300 pips sebulan senang-senang je boleh dapat.

Itu kira rekod pencapaian  terbesar pips yang aku boleh kuasai setakat ini. Tu pun senang-je. Kalau 1 pip = 1usd, 200 dah ada 200 usd. Tukar dalam RM dah jadi 600 ratus sebulan. Lumayan tu. Itulah tanda nya kena maintain.