MetaTrader

Follow Bouncing Pips

First I want to thank all of you for the support. Forex11 & I never thought this would take of they way it did. Thank you.So officialy I will be adding the MFI (Money Flow Index) with 80/20 settings.

So as you can see I look for confirmation on all 3 charts. You can always take it off the 1Hr if you like but I prefer the 4 HR. When you see all 3 its a super strong indicator that it will go in that direction. Thats how I trade it. Simple & straight forward.

As for exits & stoploss. To make it simple if you use a 1HR GBP/JPY I reccomend at least 75 pip SL. on the 4 HR a 200 pip SL. As for exits you can use the next signal or a profit point of your choosing. As for me I use the MFI to see how close its being overbought/oversold, look for upcoming news that my affect your trade & to make sure my risk reward is at least 2-1. Never risk more that what you will gain. Put bluntly its stupid.


Indicators Setting :

Non Lag Zigzag : Price 0 , Length 100, PctFilter 2.0

Zigzag Pointer : ExtDepth 100, ExtDeviation 75, ExtBackstep 15

I have 3 charts set up. A 30M, 1HR & 4HR.








source: http://www.pipsmaker.com

Attribution and Bias Among Traders

Perhaps the cardinal contribution of behavioral finance research is the elaboration of the ways in which people depart from strict rationality under conditions of risk and uncertainty. How we process information affects our behavior, creating situations in which we can risk our capital more for psychological reasons than for logical ones.

Much of how we process the world consists of attributions: qualities that we attribute to ourselves and explanations that we attribute to events. As human beings, we are driven to make sense of our world, and attributions are an important element of that sense-making.

One of the most basic attributions traders make is to their gains or losses. Are profits and drawdowns attributable to the self; the result of positive or negative actions that we take? Alternatively, do we attribute gains and losses to outside forces or to sheer chance? How we attribute the outcomes of our trading performances will necessarily play a large role in what we do about those performances. If, for instance, we tend to attribute gains to the self, but losses to bad luck, we might stick with faulty trade ideas, exacerbating initial losses.

In point of fact, research finds that people are reliably biased in their attributions, a situation that cannot help but affect traders. Football fans, for instance, tend to attribute their team's successes to skill, but their opponent's victories to luck. When CEOs successfully complete acquisitions and attribute the success to their own skill, they tend to become overconfident and make further acquisitions--which then realize lower returns. CEOs also tend to be paid more money when the share price for their firms increase, as boards (falsely) attribute the price move to the executive's skill. This, too, is reliably associated with subsequent CEO underperformance.

It is when we indulge in self-serving attributional biases, however, that trading results are put most at jeopardy. Social psychologists refer to the "fundamental attribution error", which is the tendency to over-emphasize personality-based explanations for other people's behaviors and minimize situational influences. When we're subject to the "actor-observer bias", we tend to attribute our own outcomes to situational forces, rather than to fundamental personality traits.

How does this affect traders? Traders with a self-serving bias tend to give themselves too much credit when trades go their way and rationalize situations that lose money. As a result, they are likely to become overconfident after a string of winning trades, raise their trading size/frequency, and place themselves at risk.

Indeed, a consistent predictor of trader failure in my own experience is the tendency to attribute losses to a shadowy "them": the large traders and institutions that supposedly manipulate the markets. In years of working with traders, I have never seen one succeed over the long haul who reliably blamed outside forces for losses. Those traders, in fact, are subject to considerable anger and frustration, which leads them to become impulsive--the well-known phenomenon of "revenge trading".

Reason dictates that there is a difference between a good trade (one placed with an edge in one's favor) and a winning trade (one that makes money), just as there is a difference between a bad trade (one that lacks an objective, positive set of expectations) and a trade that loses money. Sheer chance alone can create situations in which good trades lose money and bad ones happen to get lucky. The self-serving trader who overemphasizes the role of chance in losses creates a situation in which learning from experience becomes impossible.

But there is another kind of trader--one with an overinclusive attributional style--that tends to own losses and gains with equal fervor. By minimizing the role of chance, the trader attributes all outcomes to the self, feeling good when the profits are rolling in and becoming discouraged during (inevitable) periods of drawdown. This is the "illusion of control" documented in the research of a London Business School research team, who found that traders who thought they could predict markets shown to them (which were actually random price series) performed worse than less confident traders. The result is that you can reliably track traders' moods by their P/L statements.

Traders tend to blame their losses on such factors as "loss of discipline" and "overtrading" when, in fact, these are frequently the results of attributional biases. The majority of traders spend more time trying to understand market movements than trying to understand their own thinking about markets. An interesting line of research finds that individuals who experience increased emotion tend to shift their attributional styles, reducing their tendency to own negative outcomes. Successful traders not only need to be able to think about markets, but also think about their thinking. Awareness of a tendency toward bias can be a powerful antidote to biased decision-making.

Brett N. Steenbarger, Ph.D.

www.brettsteenbarger.com

Assessing Your Personal Strengths: What They Mean for Trading

A common perspective is that traders run into problems because of personal (or personality) flaws. My experience with successful traders in professional settings, however, finds that the successful traders often have as many of those shortcomings as other traders. The difference lies in their personal strengths--and how they bring these to bear in their trading.

It's only been fairly recently--with the rise of "positive psychology"--that research has taken a hard look at strengths and subjective well-being. One excellent compilation of this research is the large text "Character Strengths and Virtues" by Christopher Peterson and Martin E. P. Seligman. It is an attempt to pull together everything we know about such qualities as wisdom, courage, love, kindness, justice, leadership, modesty, optimism, spirituality, and much more.

Another effort to study strengths are the Values in Action questionnaires that evaluate 24 positive personal qualities. (Interested readers can register on the research site and take the questionnaires for themselves).

My experience is that many trading problems occur, not because of traders' weaknesses, but because their strengths do not align properly with their trading. In an upcoming post, I will update the Trading Coach project and illustrate this concept. Interestingly, very few trading coaches/psychologists seem to spend a great deal of time assessing specific trading and personal strengths. The assumption seems to be that, if you address a weakness, you'll then succeed.

The opposite approach is that, if you build strengths, you can work around your shortcomings.

Let's try a little exercise. Below is a list of strengths from the VIA survey. Identify what you consider to be your five greatest strengths from this list and jot them down:

creativity, curiosity, open-mindedness, love of learning, wisdom, bravery, persistence, integrity, vitality, love, kindness, social intelligence, citizenship, fairness, leadership, forgiveness, modesty, prudence, self-control, appreciation of beauty, gratitude, optimism, humor, spirituality

Once you've written down what you believe to be your five greatest strengths, now--next to each of these strengths--write down how you specifically employ that strength in your day to day trading.

What I find is that, sometimes, how a trader is trading does not make concrete use of his or her greatest strengths. As a result, the trader is pulled two ways: toward what he or she "should" do according to the chosen trading style and toward what comes most naturally as a personal interest and strength. This is not a problem with discipline per se; it is a problem of a lack of fit between trading approach and personal competencies.

It is not necessary for trading to actively engage all your strengths. If many of your top strengths are not regularly utilized in your trading, however, two consequences are likely to result: a) you will not be as successful as you could otherwise be; and b) you will likely find trading less than fully satisfying and will not sustain the motivation to develop yourself fully.

In our Trading Coach project, Trader C. is running into some difficulties that have reduced his profitability. As we shall shortly see, it is his strengths that are getting in his way. In an upcoming post, I'll show what we're doing to remedy that situation.

Brett N. Steenbarger, Ph.D.

www.brettsteenbarger.com

Automated Trading

For beginners in the Forex trading, be warned that most of the trading systems sold or offered online are considered junk and useless. Oftentimes, these systems provide tested simulations and cleverly hyped marketing strategies that do not work. By using ‘junk’ trading systems, you can lose your investment.

Are you a disciplined individual? According to expert Forex traders, the only ones who succeed in the Forex market are those people who stay disciplined despite their success or failure. Automated Forex trading has changed the way traders make their transactions. If you’re a savvy Forex trader, you can definitely benefit from using these automated systems.

There are simple trading systems offered online which can yield higher returns when used properly and consistently. The simpler the automated trading system, the easier it is to use; you see, complicated systems do not guarantee success at all times so be very careful when choosing the appropriate Forex system.

For example, if you think that a certain currency is going to maintain four weeks high standing, buy it. If you have a low-standing currency, you can sell it before the price goes down further. This system is also called breakout wherein all your moves within the Forex market is based on the highs and lows. Soon, you will be able to penetrate the market’s big trends.

Big trends usually last for several weeks, months, or even years. Take a look at the Forex chart and study it. The whole system is automatic and the rules are quite objective. This system is also known as a Forex robot and it can operate fifteen minutes everyday. The creator of this Forex robot was Richard Donchian, a Forex trader.

If you want a simple system, the Forex robot may work for you. Traders who prefer complex trading systems often expect more from this system and so they would rather opt for another system which can meet their expectations. The Forex robot is not fussy and it can help you in identifying the top picks and the bottom picks.

Successful Forex traders spend enough time and effort to make informed trading decisions. As a wise trader, you should not rush things. Allow the system to work. Don’t believe in the myth that complex and expensive systems are more efficient. If you’re serious in Forex trading, you can earn lots of profits with minimal effort.

Observe today’s market trends. If you think that the Forex robot will work for you, considering the existing trends in the Forex market, you can use it because it is logical, very simple, and continuously works. the automated trading system can be obtained for free online just case you want to see how it works. If you think that the Forex robot is another junk like all other systems, check its background. Try to review ratings and testimonials to find out more about this excellent and efficient system.

The modern world is very different from that of long ago. Many of today’s basic tasks are now handled automatically. If you want an automated Forex system, you can make use of the Forex robot. Hurry and look for this system online; if you want, you can also check Richard Donchian to find more info about it. You will greatly benefit from this system over the long run. Don’t overexert yourself in studying the Forex market because with the aid of the automated system, you can go a long way.

Warehouse Management

Warehouse store or warehouse functions for the production of goods or products in the amount and the specific time frame and then distributed to the intended location on request. Constraints faced in the fulfillment warehouse is accuracy to calculate the movement of goods and the goods stored period. It takes control of goods movement activities and documents to increase the efficiency of use of warehouse to the number and range of time the goods are stored in the minimum or appropriate planning.

Logistics and warehousing management holds a very important role in the life of a company. Goods can be stored in warehouses in the form of raw materials, intermediate goods, spare parts and finished products. Increased productivity and product fulfillment warehouse services will greatly affect the overall company performance.

Warehouse Management System supports information technology to help control the movement of goods in / out, movement in the warehouse and order fulfillment. Supervision by using the system, providing ease of management and value-added warehousing, distribution, namely:

1. Warehouse manager makes it easy to give a good availability of information to the planning of production or delivery to the availability of goods remained at a safe level
2. Placement of goods determined by the system so as to facilitate storage, retrieval and calculation of stock
3. Reducing lead times of activity and storage of goods delivery
4. The availability of a variety of information about goods and utility level warehouse to facilitate analysis of a strategy using a more efficient warehouse

Pricing Psychology

Lesson. 1

Pricing Psychology is what I mean and I created as follows:
1. Price movement known address
2. Price movements Always Returning
3. Price Movements and treatment

Explanation:

1. Price movement known address
Example: I want to go to college or into the office, I know exactly the address, at least where building what is on the road or close to anything. I know exactly and can imagine the location where. or you are always in this forum, you will know the address of this web site, you memorized it and could see the contents of reply was in it (the forum),

Like the forex or reply like, the ability to know where the price of a trend and the area-the area must be known and immediately had to know in 1 minute, too. Address here is the image that was outlined in a day, or within a week etc.. I know exactly when this hour prices will fall / rise since ..... and because .... (address unclear).

I know exactly GBP / USD on Friday January 11, 2008 date that has the address: 1.9567 Buy Local or Higher or I will sell below 1.9550 below, if all indicators were above 1.9567 and shows that, in my head I remember the reply is buy time. .....,

Indicators will be working to address-given, if the address is clear, for example if you want to work or college, what indicators you use reply (motorcycle, car or plane?), If you feel comfortable with the bike with a comfortable consideration please and see , what has the ability to lead us to address existing dibayangan reply?

The ability to formulate image / address of price movements also provided:

1. Can Fibonanci

2. Able to Eliot Wave

3. Able to Linear Regression

I chose number 3, because I deepen to number one and I did not choose 2. (The third is to map the elements of reply and the address is recognized in accordance with the Human Element).

The principle is there a shadow / address before you go trading?
Number 2 and 3 for the psychology of price and I'll continue, thanks

Lesson. 2

Before I explain further, I was a trader with a choice of Base Technical characteristics, Psychology Price I point out the difference with market psychology, I do not describe a causal relationship. I continue my definition of price psychology.

2. Price movements Always Returning,

During my trading, I never find any thing unusual in the price movement, always Up or Down.

Example: Activities in this world all the repetition or repetitive, I went to finally go home, I'm tired of doing the activities I rest and sleep, after eating like I used to drink. In reflection you have to do something to repeat.

Once I got to know the address / shadow from price movements in one day, what to do is to know shape of the events of the price movement, I do exploration in a variety of objective indicators of just one: congratulations to the purpose of the reply address was given.

From my experience trading, I always use one of the indicators used as the lives of my trading system, and I will combine with a variety of other indicators in order to function properly reading the price movement ALWAYS repeats.

I memorized sample picture of the price movement was down

I memorized sample picture of price movements are up

I memorized sample picture of price movements when TRUE POWER rises

I memorized sample picture of price movements when TRUE POWER down

I do not feel FEAR due to price movements of a sudden,

because I memorized correctly EXAMPLE IMAGE OF A REPEAT

What I FEAR is: DO NOT DO WHAT WHEN THE TIME AND WHAT IS AVAILABLE AND THE IMAGE OF A REPEAT pattern.

The question of psychology to this 2 Price: HOW EFFECTIVE AND EFFICIENT READING INDICATORS FOR YOU REPEAT THIS PATTERN, AND HOW TO FORM YOUR memorized YOU WAKE UP TO READ PATTERN REPEAT.

Lesson. 3

My final paper is price movement and treated.
If you already know the address, if you already know the habits of a repetition of the last is the certainty of set up both.
I mean here the certainty that well-habit and it will happen, if the trading I usually call it the Sure Point.

Sure Point can I match the Sure win .......

Example: When I went to Jakarta, and did not want to stuck in traffic on my mind so dalan a repetition is my street at 5 am, when the repetition on the train then I'll take the train at 6:10 that direct Express Bogor-Jakarta, considerations: no too many power failures, train well and could reach the minimum Jakarta gambir 1jam within 20 minutes, it means I get to goal quickly without too many distractions.

If repetition alone drive, if my way is my 5-hour minimum must be less than at 6:30 in the morning to get to the door TOL Jakarta, with consideration before 6 am, I am still not able to beat the traffic and speed up go to Jakarta and objectives without too many distractions.

From the example above, when trading was, I was just looking for a form of repetition that can be produced with certainty. Traffic can cost hustle and bustle, but there was at one time can be found and gives us a good profitable.

Not much trading done, the existing entry when there is certainty. Sure Point / sure win not too hard to find, the hard part is some doubt when it comes certainty, whether this be true trend up, whether this is a trend down.

Master the Psychology of Human first, it's human psychology including how to trade, money management, risk capital, How to create system .... etc.
But do not be too long to dwell in it ........ love of money and time will eventually be discarded reply ...

Melly Goeslow songs and ordinary stars Not good later in the hearing ....
Don't Want ..... Party a start, since you like that ........

Business Case Competition

Mission of Business Case Competition:

1. Prepare graduates both undergraduate and graduate into a professional manager who can think integrative and international perspective; work based on the concept of global management to adapt the latest local business practices and guided the values of truth, justice, honesty and freedom.
2. Develop applied knowledge and PMP Certification practices based on universal concepts of contextual studies through cooperation and learning between participants, faculty, alumni and the business world.
3. Disseminating and applying knowledge and management practices applied to improve the organizational and societal life.

In the era of school autonomy and PMP Certification, duties and responsibilities of the first and principal of the school leaders is creating schools that they lead to more effective, in a sense become increasingly beneficial for the school itself and for education users. In order for the duties and responsibilities of school leaders has become real, they would need to understand, explore, and apply some concepts in management science which today has developed by thinkers in the business world. When deepened in earnest, it is the concepts of management science has a value that will not plunge the world into the direction of our education business that can harm or disappoint the public users.

List of Business Data

CAT FX 50

Main Tools

EMA50 on chart.

EMA120 on chart.

Hist_Step_MA_Stoch_KV1_Ex_03 set at 2000 bars.
Set filters on Step: +0,04 and -0,04.
Plot aNina_v1, set it at 9000 cbars.

Hist_StepMA_Stoch is the main indicator here. When Hist_StepMA_Stoch and aNina give signal simultaneously, the better. Do not trade if they give opposite signals.

TF: 30 minutes.
Trade time: 08:00cet to 18:00cet

Optional tools:

FiboPiv_v2

MAX Moving Average set at 50, 14, 2000, 2

SDX-TZBreakout

Camarilladt7 with L3, L4, L5 and H3, H4 and H5.


Standard or Level 1 signals:

Buy when price crosses EMA 50 and new bar opens above. Hist_StepMA_Stoch must be green.

Sell when price crosses EMA 50 and new bar opens below. Hist_StepMA_Stoch must be red.

If price and Hist_StepMA_Stoch crosses are simultaneous, the better.

Level 2 signals (riskier):

For instance, when price is above EMA 50 with Hist_StepMA_Stoch in green. Price then opens one bar at least below EMA 50 and Hist_StepMA_Stoch keeps in green mode. When price opens again above EMA 50 with Hist_StepMA_Stoch validating (green), we can buy. The opposite for a sell.

Level 3 signals (riskier):

For instance, we are in bullish mode: price above EMA 50 and Hist_StepMA_Stoch in green. Suddenly, price goes down crossing or without crossing EMA 50 and obviously without opening below it. Hist_StepMA_Stoch changes to red. We buy when price goes up again always validated by Hist_StepMA_Stoch that should change to green again.

Level 4 signals (Take care):

Level 4 is when price, after a consolidation of a few bars, breaks through the last high or low. The main thing we need is an indication of strength, and if we don't get it, it could be a trap!

Obviously, the breakout down should have Hist_StepMa_Stoch in red and green for the opposite.

Something to take into account:

Pairs to trade: EURUSD, USDCHF and GBPUSD.

When bar opens more than 20 pips above/below EMA 50, the signal is riskier.

Do not buy/sell, for instance, EURUSD because GBPUSD has a signal. Wait for the signal to come in each pair you want to trade. Look at EURGBP, USDCHF and US Dollar Index always.