Not2Eat: Please Do not eat Pangas (Dory Fish)

Not2Eat: Please Do not eat Pangas (Dory Fish): URGENT! URGENT! FISH LOVER, THESE FROZEN FISH ARE AVAILABLE IN AL-MEERA, CARREFOUR, DASMAN & WATCH OUT FOR ALL FROZEN FOOD SECTION........

The 4 Stages of Loss in Forex

One of the first things that you should learn in forex trading is accepting defeat. Although it is a normal part of the overall trading process, losing is something that many traders–both newbies and pros–have difficult with.

Think about it. Losing in a game where nothing is at stake is tough enough, what more when there is actual money that you have worked for very hard is involved?

The main reason behind the difficulty in coping with losses lies with the lack of understanding rather than actual psychological problems. People who are experiencing loses misunderstand the negative emotions that are attached with them, which can cause anguish and despair. This eventually makes them quit trading forex altogether. People who cannot deal with the psychology of losing end up exiting the forex trading business quickly.

In this article, I’d like to address that lack of knowledge with losses. In the next several paragraphs, I’m going to talk about the 4 stages of loss in forex, namely, denial, rationalizing, depression, and acceptance.

Do the terms sound familiar? They should, because they’re similar to the 4 stages of grief. Do note, however, that they are applied differently in forex. My desire is that by getting to know the 4 stages, you are better suited to handle the losses that come with trading.

Stage 1: Denial

The first stage of loss enables you to deal with the losing trade. In this phase, you deny to yourself and to others that your trading idea was wrong, and that the loss wasn’t your fault. Reasons like “I was stop hunted” and “I didn’t really care for that trade” are normally used. There’s nothing wrong feeling this way, especially if you’re new. It’s a way to ease the blow to your ego, survive the loss, and move on.

Stage 2: Rationalization

After the denial stage, you move on to rationalizing your trade setup. This is the point in time where you point out everything that’s right about your trade idea and do not even think about what you did wrong. You cite the appropriateness of your trading plan, profit target, stop loss, and entry point but totally disregard that you actually did lose the trade and made a mistake somewhere.

Stage 3: Depression

At this point, you have already looked at all the possible external reasons for your loss. You then turn inward and consider the idea that the loss was completely caused by your own doing.

Although it's reasonable to take responsibility for your loss, blaming yourself too much can be damaging to your forex career if you consistently doubt yourself. You might ask yourself questions like "Is forex trading really for me?" and "Why go on at all?" You could even wind up withdrawing yourself from the business altogether if you can't find enough reasons to keep pushing forward.

Those who have experienced this kind of self-doubt can attest that the longer the losing streak is, the more the intense the feeling of depression. In some cases, you could even see yourself thinking of pursuing other business ventures out there and giving up on forex trading.

Stage 4: Acceptance

In this stage, you begin to realize that it's unhealthy to blame yourself for everything that went wrong. Even though you've accepted that the loss was partly your fault, you are also mindful of the fact that the forex market is a wild untamed beast and that there are plenty of market factors beyond your control.

Let me clarify though that acceptance isn't simply about feeling okay about the loss. In truth, acceptance is more like aligning yourself with reality and realizing that the loss cannot be undone.

When you reach this stage, you accept that you have made some mistakes on your part but that there are also things you are unable to control. Some even say that acceptance is a mix of rationalization and depression, as you combine the two before you are able to move on.

At the end of the day, it's important to remind yourself that you can never truly reverse what has been lost but that you can make up for it. One obvious way to do this is to have a winning trade and recover financially, but you can work on rebounding mentally as well.

You can come up with improvements for your trading strategy, exercise better risk management, or just figure out how to handle your losses better. Instead of simply denying the loss, you have to move on, adapt, and grow.

Happy Trading Hours New Defending Champion !

"If you want something bad enough, you must be willing to take a risk. BUT If you really REALLY want something bad enough, you must be willing to RISK EVERYTHING.. It is true that people will never succeed in life unless they are willing to die for it. Always remember success is very intentional and deliberate and it NEVER happens by CHANCE."  - Gabriel Vergara 

Congratulations to our new Defending Champion!

Everyone put up a good fight and traded to their last trading second. 

On our next monthly finals, Gab's team will defend their trophy against December finalists. So stay tuned here with our #HappyTradingHours!

The Bouncing Zone Strategy — Part 1

Introduction

Your are about to read the part 1 of a 3 part article called "the bouncing zone strategy".

You should know that I haven't invented this strategy. I've learned it on the internet and with friends, and then tweaked it to feet my needs. Some people call this strategy "supply and demand levels", but I think "bouncing zones" better describe what it's about.

The setup

This is a strategy based on Price Action, so the setup is quite simple: just the price in candle sticks. No indicator at all. I trade mostly on the main pairs (EUR/USD, GBP/USD, etc.), and on a 1h timeframe (TF). But this technique should work on any pair and any TF.

The basic idea

Sometimes we see price moving very rapidly in one direction. What does it mean? Let's use an example to make things simple:

• Some people are selling a huge amount of $currency, and these "some people" are usually big banks
• That makes the price drop quickly from 1.3 to 1.2
• It means that a lot of people who wanted to sell $currency at around 1.3 couldn't do so, since price moved so fast
• So next time the price goes back around 1.3, a lot of sell orders are going to be triggered, and price is going to move down again
• Of course it works the opposite if price increased from 1.2 to 1.3

Once you realise that, you just have to use this information at your advantage. Here's a EUR/USD chart that shows this.

Legend:

• 1) Price dropped quickly from here, we call this a zone
• 2) Then when the price reaches back the same zone, the price bounce

Now you should understand why we call this strategy "bouncing zones". The zones from where price move quickly in one direction are called:

• Demand zone, when people want to buy and price will increase
• Supply zone, when people want to sell and price will go down (like in the example chart above)

So you just have to identify these supply and demand zones, place orders when the price goes back into these zones, and wait for the price to bounce. Obviously not all zones are going to work as planned. But from my experience, enough are going to work in our favor to make this system work, and make money.

How to identify bouncing zones

Identifying zones is quite easy. All it takes is two steps:

• 1) On a chart, identify all strong price movement
• 2) Find the base of the price movement, where the price moves slowly in sideways. This is what we call a zone.

In the example below we see 3 strong price movement. There is a supply zone that already worked, and a new demand zone.

You can see that it's quite easy to do!

How to precisely draw zones

This part is hard to explain precisely, cause there may be some rules to follow, but your also need some kind of instinct, that you can only learn by doing. Drawing zones is an "art". Anyway, the basic idea is this:

• Look at the base of a strong price movement to find some candles moving sideways
• Make the zone cover all of these candles (body and shadows)
• Then refine your zone:
  • If it's a supply zone, you do not care about the lower shadows of the candles
  • If it's a demand zone, you do not care about the upper shadows of the candles

Here are a few examples of zone drawing:

Legend:

• In blue + orange: the whole zone that covers all the candles
• In orange: the shadows we're not interested in, as explained above
• In blue: the refined zone to use for the trade

Entry, stop loss and take profit

Once you identify a zone that you want to trade, you have to set up the trade. Here's how I do it with a little example.

Legend:

• Blue rectangle: the supply zone
• Blue line: the entry of the trade, at the beginning of the zone
• Red line: the stop loss (SL), usually 2-3 pipes above the end of the zone
• Green line: the take profit (TP), that is simply placed in a way to have a 1:2 or 1:3 risk:reward ratio (in this example it's a 1:3)

So once you know how to draw zones, setting up trades is really simple with these rules.

Examples of bouncing zones

Below are 4 examples of bouncing zones from CHF/JPY charts. Two are demand zones (top), and two are supply zones (bottom).

You should try to find zones on your own charts, and see the price bouncing into them

Credit: 21pips

10 Old Fashioned Dating Habits We Should Make Cool Again

1. Coming to the door to pick someone up.

I think we’ve all had it with the incredibly unromantic “here” text, and meeting up always seems to be more casual and platonic than the alternative. Of course, meeting someone from online or any circumstance like that would probably be the exception to this rule, but generally: the 30 seconds it takes to get out of a car or cab and knock on the door makes a huge difference.

2. Trying to dress really nicely for a date.

“Nicely” means different things for different people, so I think it’s just a matter of putting effort into how you put yourself together to go out with someone. It’s not about wearing suits and petticoats again, but just realizing that, whether or not we like to accept it, appearance does count for something, and we should do our best to make sure that our appearance says something about us, in whatever way we’d like it to.

3. Bringing flowers or other tokens of affection to the first date.

Now, many lucky ladies (and some men) I know get this regularly, and in fact, I have myself as well, but only ever with people I’d been dating for a while. I think there’s something to be said for bringing flowers to the door on your first date. It’s become uncool because it’s forward and it’s a gesture that confirms their interest, but we should definitely get past that idea and worry more about how we’re going to let someone know we really do care and appreciate that they want to spend time with us.

4. Going dancing that’s not grinding on a grimy club floor.

Whatever happened to this? Dancing for the sake of dancing, like fun, not essentially sex on a dance floor dancing. What’s a better way to literally shake off nerves than seeing them bust a really dorky move on a dance floor? And the art of slow dancing has generally been lost, though I’ve been one to do it in my living room with my slightly coerced significant other, and I’ll tell you he’s said on numerous occasions it ended up being one of the most romantic nights we had together.

5. Straightforwardly asking someone out and not calling it “hanging out.”

Or, as is very popular these days, “talking.” “Oh, we’re just… talking.” As in, seeing one another and speaking frequently as to get to know each other? So… dating? We’ve found these really convenient ways to skirt around the issue of having to put our hearts on the line, but honestly, it just ends up being messy and confusing for all parties involved. There’s no need to go back to the idea of courting or anything, unless you want to, but simply being direct about whether or not you’d like to go on a date with someone is a truly lost art, one that really shouldn’t be.

6. Additionally, being clear about when you’re “going steady.”

Oh, the awkward, “so… are we… you know… what are we?” talk. Classic. We should go back to asking one another if the other person would like to “go steady” or something. There’s something about asking them if they’d like to rather than assuming that you are or aren’t anything that’s just very cute, in my opinion.

7. Romantic gestures like writing poems.

Writing poems may not be for you, I know mine would look something like “Roses are red, violets are blue, I hate poetry but I love you.” I literally just made that up thank you please quote me when you inevitably post that gem on Tumblr. But seriously, like a handwritten letter in the mail or just surprising them with something you made even if it looks like the macaroni necklace you made when you were 5 is cute just because you tried and were thinking of them.

8. Turning electronics off and just being with one another.

I’m not sure there is anything worse than the person who picks up their phone and starts staring at it in the middle of dinner, or at any point while you’re together and having a conversation. I’m not anti-technology here (hello, I work for the Internet) but I am saying that there comes a time to turn it off and disconnect and remember what actually matters. People.

9. The general concept of asking permission for things.

It used to be principle for people to say: oh, when can I see you? Or, when could I call you? Rather than just assuming they can at any point. But I think that old concept could be applied to our modern world by just assuming that, unless told otherwise, you should ask permission to you know, touch them anywhere, take them out, call them at a certain time, etc. Once you’re in a relationship these things usually don’t require asking anymore, but some do, especially when it comes to sexuality. I once knew a person who said that they asked permission before so much as touching a girl’s thigh, and that always stuck with me.

10. Not assuming sex is to be had at any point in time.

Now, I’m certainly not saying it should go back to being a taboo that’s unspoken of, but we certainly shouldn’t expect it from someone on the third date, on the first date, because they’re being flirty, because you know they’re into you, or even because they agreed to go out with you. A date does not have to be a precursor to sex, and you shouldn’t be disappointed if it isn’t because you should never assume that it will be. It depends on the person you’re with and what they want to do.

(C) KATE BAILEY

 

How to Trade Forex with Ichimoku: The Core System

We have come a long way learning about ichimoku. In this article about the indicator, I will teach you how to trade forex using ichimoku to anticipate, ride, and profit with the trend.

Ichimoku is a trend following system. Because of that, it only make sense to use it and learn it for trend following. I’m not saying that its all the ichimoku indicator could do. It is just the first step to getting to know this indicator. You can use ichimoku on any kind of strategy you want on any timeframe and on any market. I have been using ichimoku as a contrarian trader and not as a trend trader. But all traders new to this indicator should first learn how to trade with ichimoku with trend following. That is my beginning. That should be yours too.

The First Step – Anticipation

The first step to using ichimoku lies in the fact that you should be able to anticipate if a new trend is going to rise. We want the big trends. And we should be able to get on it before it even begins. We want these trends to last for days, months if possible. So how do we anticipate it?

Consider this graph:

If the 3 lines agree that the trend is going bearish, there is a high chance that a reversal is near. When the kijun sen and tenkan sen lines cross, it means a reversal. If after the cross, the tenkan sen is below the kijun sen, it is bearish. Otherwise, it is bullish. Both kijun and tenkan also points down. Which means its strongly bearish. Now, look at our chikou line. Is it above or below the price action? If its below, then it is bearish. Is it below the cloud or above the cloud? If below the cloud, then it is STRONGLY bearish.

In summary:

• Tenkan sen below kijun – bearish
• Chikou below price action – bearish
• Tenkan sen pointing down – bearish
• Kijun sen pointing down – bearish
• Chikou below kumo cloud – strongly bearish
• Kumo cloud – price action inside – consolidate (chance of breakout if the price goes down and exit the cloud. Chance of trend continuing up if the price exits the cloud upward).

When all the lines agree. There’s a high probability that the trend will go on that direction.

And as anticipated, the lines did prove to be accurate:

Following the indicator, you could have made profit around 300 – 500 pip for one position alone or more if you keep on adding position as the trend go down. The trend went for months going bearish. You could have also anticipated the trend reversing using the same technique you used entering the trade.

This is the first step in using the ichimoku indicator for trend following. On our next lesson, I’ll teach you how you can use the indicator to add position as the trend unfolds.

Now that you know how to anticipate a trend. Go practice it! Create a demo account or a live account from our list of forex brokers and social trading site. Practice makes perfect. There is no shortcut to success.

(C) Forex Philippines

NOVEMBER 29 Happy Trading Hours Demo Competition Winners

CONGRATULATIONS!

1. Rio - 10%
2. Mariestelle - 3%
3. Kierone Platon - 2%

You WIN:
1. 10% Discount to Midas Business Academy
2. Tony Roma's Discount Card
3. MetisEtrade Souvenir - Tshirt
4. Chance to dethrothe monthly champion Robert Escano here in our office on Dec 06

Note
*Send us your pictures (for poster purposes)
*Please prepare your team of 4 for the next monthly finals! December 06


CONGRATULATIONS!!! See you live in the office!
#Happytradinghours