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    Thread: Bidyut's Trading Journal

    1. #831
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      Quote Originally Posted by Oghale View Post
      Wow, we lose our account easily because we are not careful, but I know that as traders the bonus had stood as a form of encouragement whenever we trade and lose, forex trading is a business where the challenges will always come but as after we have learned from th painful experience, we can easily now manage to trade with the little we have and then recover with time, I love what is happening with instaforex because they are very interested in how the traders are fairing, we should never be careless with this business, forex is too risky because you need to know what you should be doing at the right time.
      Dear Oghale Yes it's true Forex success very difficult but I think if we hard work, get proper knowledge, demo practice, get good experience, good skills, proper analysis, follow good money management, follow risk management, control emotions, greed, patience, discipline and follow all Forex rules before start live trading then we may protect our account and get success in Forex business. So we should try to best for success in Forex business. Best of luck. Thank you.

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    4. #832
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      Good day everybody! Today is Tuesday and this is considered as a busy day for most of us. But for a day trader or a scalper everyday is a trading day. Anyways, I want to discuss only about some general things which is often faced by traders on day to day trading activities. I want to clarify that everybody has equal strengths and potential. Only by proper learning and practice we can discover our actual trading potential. We're coming from different fields. Somebody may not like to sit all the day long in the front of PC just for the sake of trading. But here we can't say he/she is not disciplined in his/her trades. Every traders are working at their various capacities. Most of the traders are well-known about how to execute their trades properly. We can't match one trader with another because they have different levels of experience. Somebody may not like to put SL into their trading order. Somebody is trading with high lot size orders and always getting good profit. So traders to traders we can see variations, some are most exceptional in showing great performance. So here we've to be very careful and we can't say one is good over another. For example, somebody is trading without SL but he/she always able to make good profit, it doesn't mean he/she is not disciplined in his/her trades. If we look at another trader, if he/she always use SL but always get SL hits. So who is the disciplined trader here. The first trader who do not use SL may know about the risk and only trading in good opportunities. If a trader is always getting negative result then we can say he/she is not a disciplined trader. He/she may not have any good trading plan that's why he/she is not able to make any good profit despite of applying proper money management. So we've to look at the trading result of a particular trader. If he/she is doing good then its okay. There is no strict rules that we must put SL in order to gain good profit. Or we must put TP in order to book profit. So some notions are automatically created among traders.

      Quote Originally Posted by PhAnToMtRaDeR79 View Post
      You can say that but I can see that this thread is a good thread to learn about pivot point because you've proven that it really work nice and you answer any queries in detail. So I can safely say this is the best thread available to learn about pivot point.

      Congrats on your profit mate!
      A great complement from our super moderator. I've no words to say anything or to express my gratitude towards your encouraging words. I'll try to be more honest in my work and try to update my thread with good stuff. I always like to interact with all of you that's why I try to reply all queries. Sometimes I may not able to clarify things but with growing experience I'll try to overcome it. Regarding my trading, yeah it is just a reflection of positive impact of good traders. I've to go a long way, and I'm very much sure that with such a great support from all of you I'll able to find my ultimate goal. Glad to have your congratulatory words. Have a great day to you.

      Quote Originally Posted by penuelophir View Post
      One of the things I have come to understand is that people who are open to learning is always good in acquiring enough knowledge and experiences. It is not about trading but it is about being able to execute right trades and to start earning money consistently but all these is possible when you are open to learning and gaining good trading skills.
      Learning is a continuous process and we can learn everyday. This is true that if we are open to acquire good knowledge from others then we'll definitely able to do well in our trades. We should try to remember that we can learn from anybody and from everybody. No matter whether a trader is new or old, from every trader we can learn something. We can also learn from somebody's mistake. When we look at somebody's mistake it would remind us what is not good for our trades. If we're open to learning then we must be ready to accept our mistakes too. Then only there will be a scope for improvement. If we really want to become successful in any field then we must consider ourselves as a good learner and try to learn something everyday.

      -------------------------------------------------------------
      -------------------------------------------------------------
      Trading Update

      Yesterday I've opened 5 GBPJPY sell orders in my Real scalping contest account. At this time the orders are floating in small negative pips. I hope the price would fall towards down. My opening price is 149.98. The immediate support is seen at 149.72. A good bearish trend is only possible once it breaks the level. If it happens then we may see the price to reach upto 149.10 which is the second support for today.

      Floating-orders.PNG

      I've also opened 5 sell orders GBPJPY in sniper contest (weekly). Opening price is 150.04. So overall bias is bearish from my side. I'll try to hold the pair in both contests account for more time.

      Order Details

      Symbol: GBPJPY
      Type: Sell
      Open Price: 150.04
      Lot Size: 5 orders with 1 Lot
      TP: N/A
      SL: N/A
      Status: Still Opened

      Daily Support And Resistance Levels

      Pivot: 150.26
      R1 150.88
      R2 151.42
      R3 152.04
      R4 152.66
      S1 149.72
      S2 149.10
      S3 148.56
      S4 148.02
      4 Hours Chart

      GBPJPYH4.png

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    6. #833
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      We should try to remember that we can learn from anybody and from everybody. No matter whether a trader is new or old, from every trader we can learn something. We can also learn from somebody's mistake.
      When it is at the back of your mind that none of us is perfect then it becomes very paramount that learning from others is good because it would make you to become even better as far as improving your trading skills is concerned. Sometimes what makes people to fail to learn from others is pride and ego!
      Wisdom Is The Ability To Apply Knowledge And Experience To Any Given Situation.
      If you do not take control of your risks then you lose control of your trades

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    8. #834
      It's time to retire!
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      Learning is a continuous process and we can learn everyday
      Actually we can't beat the fact that learning is very helpful and this is what we need to see we maintain a very promising trade in forex. Every trader must give in good time to learn about this business and look forward to build that system that will help them trade in the right means. We look forward for a positive trade and with constant learning we will always see ourselves improve much more.

    9. The following 5 users say Thank You to Sixteen for this useful post.

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    10. #835
      Super Moderator
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      Quote Originally Posted by bidyut View Post
      Good day everybody! Today is Tuesday and this is considered as a busy day for most of us. But for a day trader or a scalper everyday is a trading day. Anyways, I want to discuss only about some general things which is often faced by traders on day to day trading activities. I want to clarify that everybody has equal strengths and potential. Only by proper learning and practice we can discover our actual trading potential. We're coming from different fields. Somebody may not like to sit all the day long in the front of PC just for the sake of trading. But here we can't say he/she is not disciplined in his/her trades. Every traders are working at their various capacities. Most of the traders are well-known about how to execute their trades properly. We can't match one trader with another because they have different levels of experience. Somebody may not like to put SL into their trading order. Somebody is trading with high lot size orders and always getting good profit. So traders to traders we can see variations, some are most exceptional in showing great performance. So here we've to be very careful and we can't say one is good over another. For example, somebody is trading without SL but he/she always able to make good profit, it doesn't mean he/she is not disciplined in his/her trades. If we look at another trader, if he/she always use SL but always get SL hits. So who is the disciplined trader here. The first trader who do not use SL may know about the risk and only trading in good opportunities. If a trader is always getting negative result then we can say he/she is not a disciplined trader. He/she may not have any good trading plan that's why he/she is not able to make any good profit despite of applying proper money management. So we've to look at the trading result of a particular trader. If he/she is doing good then its okay. There is no strict rules that we must put SL in order to gain good profit. Or we must put TP in order to book profit. So some notions are automatically created among traders.



      A great complement from our super moderator. I've no words to say anything or to express my gratitude towards your encouraging words. I'll try to be more honest in my work and try to update my thread with good stuff. I always like to interact with all of you that's why I try to reply all queries. Sometimes I may not able to clarify things but with growing experience I'll try to overcome it. Regarding my trading, yeah it is just a reflection of positive impact of good traders. I've to go a long way, and I'm very much sure that with such a great support from all of you I'll able to find my ultimate goal. Glad to have your congratulatory words. Have a great day to you.



      Learning is a continuous process and we can learn everyday. This is true that if we are open to acquire good knowledge from others then we'll definitely able to do well in our trades. We should try to remember that we can learn from anybody and from everybody. No matter whether a trader is new or old, from every trader we can learn something. We can also learn from somebody's mistake. When we look at somebody's mistake it would remind us what is not good for our trades. If we're open to learning then we must be ready to accept our mistakes too. Then only there will be a scope for improvement. If we really want to become successful in any field then we must consider ourselves as a good learner and try to learn something everyday.

      -------------------------------------------------------------
      -------------------------------------------------------------
      Trading Update

      Yesterday I've opened 5 GBPJPY sell orders in my Real scalping contest account. At this time the orders are floating in small negative pips. I hope the price would fall towards down. My opening price is 149.98. The immediate support is seen at 149.72. A good bearish trend is only possible once it breaks the level. If it happens then we may see the price to reach upto 149.10 which is the second support for today.

      Attachment 74252

      I've also opened 5 sell orders GBPJPY in sniper contest (weekly). Opening price is 150.04. So overall bias is bearish from my side. I'll try to hold the pair in both contests account for more time.

      Order Details

      Symbol: GBPJPY
      Type: Sell
      Open Price: 150.04
      Lot Size: 5 orders with 1 Lot
      TP: N/A
      SL: N/A
      Status: Still Opened

      Daily Support And Resistance Levels



      4 Hours Chart

      Attachment 74251
      Honestly I don't really understand how to trade using pivot point and that is why I also visit this thread of your
      Observing how you trades and also learning through the charts you provided is top priority when visiting here

      According to your experience using this pivot point which time frame is good for this? H1, H4 or Daily?

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    12. #836
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      Quote Originally Posted by penuelophir View Post
      When it is at the back of your mind that none of us is perfect then it becomes very paramount that learning from others is good because it would make you to become even better as far as improving your trading skills is concerned. Sometimes what makes people to fail to learn from others is pride and ego!
      No matter how many years we've spent our time in the profession we must try to learn everyday. This will give us more strength to continue our day to day trading activities. This is true that most of the people do not want to learn from others. If we really want to become a successful trader then we must try to learn from everybody. We can't categorize knowledge and also the people then only we'll able to learn from everybody. If we exchange ideas and knowledge with others then it'll take less time to learn the profession. Only I can say to discover the vast opportunity in the forex market we must open our mind to learn. It is not possible for anybody to learn everything in a small span of time. So mutual cooperation is very much important and it is only possible if we avoid egoism and try to learn from every individual.

      Quote Originally Posted by Sixteen View Post
      Actually we can't beat the fact that learning is very helpful and this is what we need to see we maintain a very promising trade in forex. Every trader must give in good time to learn about this business and look forward to build that system that will help them trade in the right means. We look forward for a positive trade and with constant learning we will always see ourselves improve much more.
      Knowledge has the actual power to bring good strength to us. We can conquer the world of forex trading profession if we acquire more knowledge. The biggest challenge of an individual trader is to make a consistency in his/her trades. To keep focus on our trades and to improve our tradings we must try to learn everyday. There is no limitations of learning, we can learn from anybody including from our own trading activities. We can improve our trading everyday and it is only possible if we have good mindset to learn.

      Quote Originally Posted by PhAnToMtRaDeR79 View Post
      Honestly I don't really understand how to trade using pivot point and that is why I also visit this thread of your
      Observing how you trades and also learning through the charts you provided is top priority when visiting here

      According to your experience using this pivot point which time frame is good for this? H1, H4 or Daily?
      Actually pivot points help me to look at the levels. When price levels break or reaches to a certain level I can try to find the actual direction. It is important to follow the trend and I just go to 4 hours chart and daily chart to follow the trend. But here there is no universal rule that we must follow 4 hours chart or daily chart only. Here we can follow 1 hour chart too. Once we identify the trend we can easily go for opening an order by following any time frame (as per our choice). I've mentioned in my previous post that I do not rely only in pivot points or in support and resistance only. However we can trade without looking at these levels but at least we can know upto which level the price would move if we follow the levels. I also like to follow the price action movement. So overall all elements help me to determine to open any order at certain level. It is like an indicator. We can't be accurate but near to accurate in determining where to open and where to close our orders. Also when we use pivot points we can easily know after which level the price would break the level or reverse. But here too we've to look at price action then only we'll get a clear confirmation.

      -------------------------------------------------------------
      -------------------------------------------------------------

      I've closed my last trading orders in positive pips. In my Real Scalping contest account I've made about $147.48 I've closed manually, please have a look at the following screen shot.

      Real Scalping Contest Update After Closing Orders
      Real-Scalping-Update-001.PNG

      In my other contest i.e. Sniper Contest I've made about $175.85 profit. Please look at the screen shot.
      Sniper Contest Update After Closing Orders

      Sniper-Contest-Update-001.PNG
      Last edited by bidyut; 02-13-2018 at 10:27 AM.

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    14. #837
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      Learning is a continuous process and we can learn everyday. This is true that if we are open to acquire good knowledge from others then we'll definitely able to do well in our trades. We should try to remember that we can learn from anybody and from everybody. No matter whether a trader is new or old, from every trader we can learn something. We can also learn from somebody's mistake. When we look at somebody's mistake it would remind us what is not good for our trades. If we're open to learning then we must be ready to accept our mistakes too. Then only there will be a scope for improvement. If we really want to become successful in any field then we must consider ourselves as a good learner and try to learn something everyday.
      yes I strongly agree with your opinion that learning can we get from anyone either a new trader or a long trader and of course it can be a good input for us in trading because to do the trade we need knowledge from others and all it must we do so that our trading style can improve ..

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    16. #838
      FX Zombie
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      Quote Originally Posted by eep saepul minwar View Post
      yes I strongly agree with your opinion that learning can we get from anyone either a new trader or a long trader and of course it can be a good input for us in trading because to do the trade we need knowledge from others and all it must we do so that our trading style can improve ..
      you can find in this forum many usefull informations about forex trading which can help you to improve your trading style, this forum is a good source of learning from other traders since they always share their experience in this domain.

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    18. #839
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      It is not possible for anybody to learn everything in a small span of time. So mutual cooperation is very much important and it is only possible if we avoid egoism and try to learn from every individual.
      Learning should not be tagged with time because it pushes you into trying to learn everything at once or being in a hurry to learn all things but only to come back with nothing! Learning and developing good and wonderful trading skill in the trading environment takes time and when this fact is registered at the back of our minds then we are going to make some great deal of progress.
      Wisdom Is The Ability To Apply Knowledge And Experience To Any Given Situation.
      If you do not take control of your risks then you lose control of your trades

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    21. #840
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      No matter how many years we've spent our time in the profession we must try to learn everyday
      yes the amount of years we have spent in the forex trading market does not always matter , what matters is the level of knowledge we have gathered during our time in the market, but still yet, we still need to be consistence in learning, we shouldn't think we have get enough knowledge to trade and stop learning, in as much as we are still trading in the live account, we still require to improve our knowledge

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