On the first day of July 2017, I have shown you the trade results for Nikkei 225 using just a few simple JG's indicators. After that post, I have been updating the trading results using the same JG's tools. Instead of doing back testing that most traders like. I prefer forward testing. I am like a R&D person who like to develop strategies that can help to further enhance trading success. Through years of trading and looking at markets, and by testing it for months before roll
I have attended a talk yesterday evening, and the person shared on how to achieve the results and goals that you have always wanted. He repeated more than 6 times on: You must maintain CONSISTENCY in your practice, through consistently repeating what you do, it will become your habit. (So beware, if you keep repeating your bad habits in trading, this will follow you and haunt you throughout your whole trading journey). He also said something that captured my attention. [Have
A lot of my trading decisions are base on Fibonacci. Fibonacci is a huge subject and there are many different Fibonacci studies in the market. For JG Sniper Club, we are only focusing on retracement and extension to determine entries and exits point. Fibonacci Retracement Levels 38.2, 50, 61.8 Fibonacci Extension Levels 1.618, 2.618, 4.236 You won’t really need to know how to calculate all of this. Your charting software will do all the work for you. Imagine you are riding on
What is "Nothing on the Chart"? This is applied to Fibonacci. Some traders may find this tool super powerful when you start to learn about it. Therefore, you try your best to fit this onto your chart at any point of the time. The purpose? To give you a valid reason to get into the market. It is a common problem that I face throughout the years of teaching this. Once you are introduce to this tool, your intelligent mind will take over and start your own program on how to use t
This morning, I was asking a group of traders who are not so familiar with chart patterns to guess SiMSCI chart pattern. Do you know what pattern is this? The answer is: Head & Shoulder After recognizing the pattern, how to you make good use of this knowledge? Many people learnt a lot of these knowledge through attending courses after courses, reading plenty of trading related books as well as watching lots of online youtube about trading. How do you put what you have learnt
A very typical textbook dragon tail for Nikkei 225 this morning. It started with HM at Land on opening. Traders can participated first round using this signal followed by SLBW. Park limit order @ 19,865 and scale out profit at 19,925 & 19,985. At 8:28am, first profit target 19,925 reached. As for SiMSCI, since it didn't come to any of the support level, decide to give it a miss. No action for the morning. Chart on pre-opening (SiMSCI) Chart on opening (SiMSCI) Tonight is NFP.
We are into July this month, 6 months has passed for the year 2017. For those who are serious and would like to take this as your new business, how is your progress? Are you having too many indicators, too many consideration in your mind that you are always over analysed? Trading are very simple processes. Unfortunately, most traders try to make it into something much more complex. [Maybe deep inside you, you do not want to do things that are simple, this might make you look