MTH – My Noob Corner Journal

[MTH2014]

fuzzy wrote:

Hi MTM I used to trade (write) index options (almost 20 years ago) and I would think the same way, place the trade – defend it until expiry. Am I correct in saying that – on a particular currency, if you go long and it starts going negative you look for short opportunities ?

Hi Brother,

For me, the only real trade position is long/buy position, while short/sell position is for ‘covering’ or in my own term I called ‘valving’.

If we let say go long at 1.0000 then price going south, it depend on how far you could let this floating minus go until you decide to open short/sell position as ‘valve’ to stop the minus leaked,

after that short (valve position), if price still going south further, we could just wait until there’s sign of exhausted down movement/turning point, then we could open another long position.

So, the active trade positions so far 2 long positions and 1 short position in between as ‘valve’.

Later, when price really start to move north again, and already near our short/sell ‘valve’ position, we could release our short ‘valve’ with small profit and let that 2 long positions running..  with 1 long at the above still in floating minus, and 1 long at bellow already in floating plus and mostly the total floating is already in profit.

Hopefully I explaining correctly.

Happy Trading and best regards

MTH

 

 

Intuition, Experiences and Common sense..
http://www.binaryoptionsedge.com/

[Rahul]

Hello Kiads,

I followed your post related to  MT4-Indicator: Adjustable Shift Renko Chart Builder Indicator in forexfactory. Your development is awesome it cant be explained in word. Its much easier to trade on this as compared to Candlestick. Anyway i tried to contact you in forexfactory  but failed, hopefully i will get response this time. I am facing some problem in MT4-Indicator: Adjustable Shift Renko Chart Builder Indicator, it repaint in my system. Hope will get help from you. My mail id is tradingforangel@gmail.com. Sorry if i broken any rule of this forum as i am new user, registered today only.

[gg53]

No need to allocate that much to “floating” and/or DrawDown.

Central-Banks monitor their markets and Currency based on monthly indicators, and adjust their policy, if needed, accordingly.

CB’s policy change will change Currency direction.

Based on this you can allocate your max DD or “floating” on Monthly range.

 

BTW: Trading against the CB’s is like gambling against the “house” in a Casino…

 

G.

[MTH2014]

Rahul wrote:

Hello Kiads, I followed your post related to MT4-Indicator: Adjustable Shift Renko Chart Builder Indicator in forexfactory. Your development is awesome it cant be explained in word. Its much easier to trade on this as compared to Candlestick. Anyway i tried to contact you in forexfactory but failed, hopefully i will get response this time. I am facing some problem in MT4-Indicator: Adjustable Shift Renko Chart Builder Indicator, it repaint in my system. Hope will get help from you. My mail id is tradingforangel@gmail.com. Sorry if i broken any rule of this forum as i am new user, registered today only.

Hi Brother, thank  you for the post, could you explain more detail about your ‘repaint’ problem in my MTH – Renko Builder Indicator thread in this forum, but first try to re-download ‘her’ and check for several hours.

Hope it help and best regards

MTH

 

Intuition, Experiences and Common sense..
http://www.binaryoptionsedge.com/

[MTH2014]

gg53 wrote:

No need to allocate that much to “floating” and/or DrawDown. Central-Banks monitor their markets and Currency based on monthly indicators, and adjust their policy, if needed, accordingly. CB’s policy change will change Currency direction. Based on this you can allocate your max DD or “floating” on Monthly range. BTW: Trading against the CB’s is like gambling against the “house” in a Casino… G.

Yes Brother, you are correct.  This is just my noob way to keep my DD as small as possible, and about CB of course we should always ‘listen’ what CB’s say but it depend on which CB we talking about. From my old noob experience then I know that ‘what they say is not necessary what they do’.

I just watch The ‘Big bubbling’ Fed and PBOC lately.. lol.

Happy Trading and best regards

MTH

 

Intuition, Experiences and Common sense..
http://www.binaryoptionsedge.com/

[MTH2014]

Account Journal Progress GMT 0  server,  2016 Jan 12 23:35

Today result  so far..

.

Start to put ‘valve’ on my AUD/USD positions and GBP/USD positions so their ‘floating profit’ in secure mode..

Happy Trading Guys..

MTH

 

Intuition, Experiences and Common sense..
http://www.binaryoptionsedge.com/

[fuzzy]

Hi MTH

Thanks for your generosity and  your explanation to my question.  I realize now you already said that you’re basically long only.  Seems to me I have to read these things 3 times to pick on on everything.

In my case, the likes of IC Markets wouldn’t give me a no Swap account.  Do you think the swap rate would overly harm you trading style ?

 

[MTH2014]

fuzzy wrote:

Hi MTH Thanks for your generosity and your explanation to my question. I realize now you already said that you’re basically long only. Seems to me I have to read these things 3 times to pick on on everything. In my case, the likes of IC Markets wouldn’t give me a no Swap account. Do you think the swap rate would overly harm you trading style ?

Hi Brother, if you know what to do with swap like ‘swapper’ / carry traders then ‘swap’ could be one of your constant side income..

In IC Markets try to check for go Long with AUD/JPY and NZD/JPY for ‘swap long positive’ pairs.

Hope it help and best regards

MTH

 

Intuition, Experiences and Common sense..
http://www.binaryoptionsedge.com/

[fuzzy]

Brother – you’re opening my eyes

I’ve never considered the income potential of swap rates.

from pepperstone;  AUDJPY  3.12 ;  NZDJPY  3.36   ;   AUDUSD 2.04

 

So one could incorporate a carry trade component into this trading framework.

[Rahul]

Hello Kiads,

Many many thanks for your reply. I am attaching image for reference (Highlighted by circle-after restart). Repaints occurs after restart of mt4 .

Attachments:

You must be logged in to view attached files.

[MTH2014]

Rahul wrote:

Hello Kiads, Many many thanks for your reply. I am attaching image for reference (Highlighted by circle-after restart). Repaints occurs after restart of mt4 .

Hi Brother @Rahul

please PM me if you can’t find the latest version of my Renko Builder Indicator in this forum..

Thanks and best regards

MTH

 

Intuition, Experiences and Common sense..
http://www.binaryoptionsedge.com/

[MTH2014]

Account Journal Progress GMT 0  server,  2016 Jan 20 15:57

growth so far..

 

Clear out USD/CHF, AUD/USD and USD/CAD still hold NZD/USD, GBP/USD, and EUR/USD

MTH

 

Intuition, Experiences and Common sense..
http://www.binaryoptionsedge.com/

[smallcat]

MTH2014 wrote:

Account Journal Progress GMT 0 server, 2016 Jan 20 15:57 growth so far.. Clear out USD/CHF, AUD/USD and USD/CAD still hold NZD/USD, GBP/USD, and EUR/USD MTH

Unbelieveable result brother , Zero DD with giant profit … amazing …. congratulation …

Does it based on Renko only, or combining your other tools and wait for “her” coming home ?

[bharath4x]

Hi Brother,

Could you please teach us how to use your indicators especially StarSkullSmiley indicator.

Thanks!

[MTH2014]

smallcat wrote:

Unbelieveable result brother , Zero DD with giant profit … amazing …. congratulation … Does it based on Renko only, or combining your other tools and wait for “her” coming home ?

 

This is based on ‘Common Sense’ Brother, so as I already explaining several times that I don’t have ‘fixed’ rules or strategies for my trading decision. I always use my ‘common sense’ and use any tools depend on current condition.

Since mostly the ‘easiest way’ to do our ‘analysis’ is using Technical Analysis by using ‘chart’ then basically we should understand the main purpose of using ‘chart’ as our main tool.

Chart or in more common term is a ‘map’, and of course the ‘main purpose’ of map is to guide us to determine ‘where we are right now’ and ‘where we should go’ in the ‘right direction’.

So, when you ‘look’ at your ‘chart’ you could understand ‘where are you now’ only if you could compare it with the four corners of your ‘chart/map’, or commonly called ‘frame’.

When you talk about ‘Time Frames’ , 1 minute chart is not only about 1 minute candles, but this also talk about ‘maximal area’ that you could ‘see’ using 1 minute ‘frame’ point of view when you ‘zooming out max’.

When we ‘see’ that price ‘reached’ the bottom ‘area’ of the chart, this is very relative to what ‘frame’ that you used.  since ‘max zooming out’ of 1 minute chart ‘frame’ is only very tiny box that definitely unseen in Monthly chart ‘frame’.

Base on that ‘basic’, we should always look at the bigger point of view and because in this MT4 environment, we only limited with ‘Monthly Frame’ so we use that for our ‘where are we right now ?’ question, and determine ‘what we should do’ to ‘projecting’ the ‘right direction’ with more higher probability rather than just pointing randomly.

Here is the example on how to plot ‘specific area mapping’ for GBP/USD and my noob ‘common sense’ to support my entry or exit trading decisions.

Hopefully I explaining correctly this basic knowledge.

Happy Trading and best regards

MTH

 

Intuition, Experiences and Common sense..
http://www.binaryoptionsedge.com/

[MTH2014]

bharath4x wrote:

Hi Brother, Could you please teach us how to use your indicators especially StarSkullSmiley indicator. Thanks!

Thank You for posting Brother,  and for SSS Indicator, I already write ‘enough’ basic explanation on how to look at ‘her’ in my SSS Indicator thread here in this beloved penguin forum, but of course SSS Indicator is only ‘visualizing’ tool that representing the more wider and deeper ‘background understanding’ on how market move and react.

Hopefully you could patiently enough to read my explanations further, part by part about how to look at and understanding market in this thread, since I can’t explaining clearly only by words and charts instantly due to my lack of English, and also it’s very difficult to translate ‘skill’ into text theory/explanations without any misunderstanding.

Hopefully You understand.

Happy Trading and best regards

MTH

 

Intuition, Experiences and Common sense..
http://www.binaryoptionsedge.com/

[smallcat]

MTH2014 wrote:

smallcat wrote:

Unbelieveable result brother , Zero DD with giant profit … amazing …. congratulation … Does it based on Renko only, or combining your other tools and wait for “her” coming home ?

This is based on ‘Common Sense’ Brother, so as I already explaining several times that I don’t have ‘fixed’ rules or strategies for my trading decision. I always use my ‘common sense’ and use any tools depend on current condition. Since mostly the ‘easiest way’ to do our ‘analysis’ is using Technical Analysis by using ‘chart’ then basically we should understand the main purpose of using ‘chart’ as our main tool. Chart or in more common term is a ‘map’, and of course the ‘main purpose’ of map is to guide us to determine ‘where we are right now’ and ‘where we should go’ in the ‘right direction’. So, when you ‘look’ at your ‘chart’ you could understand ‘where are you now’ only if you could compare it with the four corners of your ‘chart/map’, or commonly called ‘frame’. When you talk about ‘Time Frames’ , 1 minute chart is not only about 1 minute candles, but this also talk about ‘maximal area’ that you could ‘see’ using 1 minute ‘frame’ point of view when you ‘zooming out max’. When we ‘see’ that price ‘reached’ the bottom ‘area’ of the chart, this is very relative to what ‘frame’ that you used. since ‘max zooming out’ of 1 minute chart ‘frame’ is only very tiny box that definitely unseen in Monthly chart ‘frame’. Base on that ‘basic’, we should always look at the bigger point of view and because in this MT4 environment, we only limited with ‘Monthly Frame’ so we use that for our ‘where are we right now ?’ question, and determine ‘what we should do’ to ‘projecting’ the ‘right direction’ with more higher probability rather than just pointing randomly. Here is the example on how to plot ‘specific area mapping’ for GBP/USD and my noob ‘common sense’ to support my entry or exit trading decisions.  Hopefully I explaining correctly this basic knowledge. Happy Trading and best regards MTH

Thank you very much brother …  now i remember, looking at big TF first to get overall information … then look at smaller & smaller & smaller TF … this is how our friend “vlady” at FF always did before making a decision too …  Your image explains it clearly, really appreciate … Thanks 

[bharath4x]

MTH2014 wrote:

bharath4x wrote:

Hi Brother, Could you please teach us how to use your indicators especially StarSkullSmiley indicator. Thanks!

Thank You for posting Brother, and for SSS Indicator, I already write ‘enough’ basic explanation on how to look at ‘her’ in my SSS Indicator thread here in this beloved penguin forum, but of course SSS Indicator is only ‘visualizing’ tool that representing the more wider and deeper ‘background understanding’ on how market move and react. Hopefully you could patiently enough to read my explanations further, part by part about how to look at and understanding market in this thread, since I can’t explaining clearly only by words and charts instantly due to my lack of English, and also it’s very difficult to translate ‘skill’ into text theory/explanations without any misunderstanding. Hopefully You understand. Happy Trading and best regards MTH

Okay brother, will go through your SSS thread and ask questions, if any.

Thanks

[MTH2014]

Journal Progress Week End Position GMT 0 Server, 2016 Jan 23  20:07

From my personal point of view,

AUD/USD and NZD/USD still choppy and could go south again next week.

USD/CAD will start to go north again after 3 days nice correction, I already clear out my ‘valve’ to continue my long positions from last year, looking for 1.45000

Next week GBP/USD in her  base ‘playing field range’ 1.41000 to 1.44000 and EUR/USD still try to reach ‘her’ previous low area at 1.05500.

And USD/JPY still synchronize with my previous ‘projection’..lol.

Have a nice Week End to all of You..

MTH

 

 

Intuition, Experiences and Common sense..
http://www.binaryoptionsedge.com/

[LoveYourself]

Usd jpy it was a pain. That dive took a lot out of me, suffered losses. Seems it started to climb back up again now.

[Rahul]

Hello,

I am not able to find new version of Renko Builder Indicator. Plz email me at tradingforangel@gmail.com.

Thanks

[Rahul]

Hello Brother MTH2014 ,

Waiting for your reply.

Thanks

[ZARtrader]

Rahul wrote:

Hello Brother MTH2014 , Waiting for your reply. Thanks

Hi Rahul, I found it in the forum, but for me it wanted to download as HTML file when you click ”save as” where the file name is just add ”.ex4” to file name and

it should download as ex4 file, I just figured this out about 10minutes ago as well

[smallcat]

[ delete: posted at wrong thread. sorry … ]

[MTH2014]

Hi All, please forgive me for not active in this forum lately, as usual many offline job to take care family company business that make me lowering my trading hobby.. lol.

Also please forgive me that I can’t answer your PMs or question posts, there’s too many repeated same topic questions that actually you could ‘search’ your answers.

But, lets make points here;

• Indicators or EAs or else is only tools, that may help your trading decision, there’s no ‘good’ indicators you just need ‘good’ understanding about them. Never search for good indicators, you don’t need that, you just need to become ‘good’ trader that could use any trading tools to support your decision making process.
• It’s more ‘easier’ to learn about ‘how to reach failure’ rather than ‘how to reach success’  because the fact that more than 95% retail traders failed. So, more example on ‘how to reach failure’ and after you understand ‘exactly’ on how to reach failure, do the contrarian.
• The good news, is that the failure rate is so high not because trading is extremely difficult (although it is certainly challenging), but because people do not know what it takes to become a professional trader and, for the most part, they do the exact opposite of what they should be doing.

Let’s think about this (this also answering in general many questions by PMs on what is my trading  point of view/mindset);

All traders read the same books, they follow the same principles of technical analysis, they adhere to the same old rules for stop and risk management and they all fall for the typical trading myths. At the same time, they all experience very similar results: failure. But instead of connecting the dots, most fail to see the bigger picture and just keep doing what they have been doing before.

Read this article carefully and check if this is your current  ‘box’ ?;

I have worked with dozens of traders and after the initial conversation, it usually becomes very obvious why they haven’t achieved the level of success they are after. The following points show how most losing traders approach trading; if you find yourself among those points, don’t feel discouraged, but use it as an opportunity to fix your trading.

• You look at charts most of the time. Flipping through time frames, randomly going through different instruments, applying different indicators and charting methods, while hoping to find a trade. You still believe the myth of screen time.
• You don’t have a detailed trading plan before you start your trading sessions. If you don’t have a detailed trading plan for every instrument, mapping out potential trade ideas, you act in a reactionary mindset.
• You don’t have a trading journal. Yes, effective journaling is a labor intense and often tedious task, but I have never met a successful trader who does not keep detailed records.
• Wrong allocation of your resources. People often say that they don’t have enough time, which is a lie – you just use your time in a very inefficient way. Checking emails too frequently, being on your phone all the time, watching mindless TV, browsing through forums or social networks are big time-wasters. If you are like most, you have probably invested hundreds or thousands of hours trying to make trading work. However, you usually spend your time on things that don’t make a difference.
• You have changed your system recently. This topic often leads to intense arguments where (losing) traders claim that their previous system didn’t work and they had to change it. The truth is, your last system was just as good as your current one and it will be as effective as your next one. Successful traders never change systems; they adapt and make tweaks, but they never ever change their whole approach. You probably shake your head right now, but just take a look at your equity graph and you will see that I am right.

Now, don’t you think it’s time to ‘think outside the box’ ?

Thus, the opposite approach to the one of the losing trader would look something like this. Mind you, this just scratches the surface:

• You spend a few hours every night writing detailed trading plans and journal your past trades.
• You don’t browse forums or engage in any other time-wasting activities, this has to do with self-respect and professionalism.
• Ask yourself: how serious are you about trading really?
• You stop watching charts all day long, but instead use price alerts and close your platform for most of the time to work on your skills.
• You immediately stop changing systems – you understand that as long as the premises of your trading strategy are in place (risk management, money management and capital protection rules), it is up to you to make your strategy work. There is no one approach that is superior over the other; every single strategy has the potential to make money if you have the skills to turn it into a profitable one.
• You live by the concept of deliberate practice to achieve mastery and continuous self-improvement.

And the article conclusion;

Retail trading often reminds me of the Lemmings where people mindlessly walk into the same direction without looking ahead and questioning where their next step might take them. And even in the face of constant failure, most are unwilling to change or look for alternative approaches; no, just buying a new system does not count here.

The true contrarian trader, who is an independent thinker and a self-made trading professional, has long stopped listening to the chatter of average retail talk. But besides his “thinking outside the box” mindset, he is also a hard worker who adheres to the principles of deliberate practice, he doesn’t shy away from doing the uncomfortable things and he is willing to go the extra mile. In the end, it’s the one and only way that will allow you to achieve any form of success in trading.

This article will sound weird and wrong if you are not ready to receive the message yet. But for traders who have been around for a while and who have gone through all the hardship, this article will ring a lot of bells.

Hope it help and happy trading All

MTH

 

Intuition, Experiences and Common sense..
http://www.binaryoptionsedge.com/

[Author]

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