Trading Tip - Weekend Warrior

So it's Friday and either you've made some great trades this week or you are a little muffed that you missed trades or worse, you made some bad ones. 
 

The weekend used to be real tough for me.  As an avid trader I found myself going thru "withdrawal", wanting to be part of the action or wanting to make some pips back that I had lost the week before.

The healthiest thing you can do to improve your trading is to review your trades.  Your good ones, your bad ones, and the missed opportunities.

Take the weekend, and perhaps Friday too (Never Trade on a Monday or Friday) and review what you can do to better your trades.

So scroll back on your charts, go back to Monday and review how the market moves.  Pay attention to market open times (Asia, Europe, US), News Release Times, your signals, your entries, your exits.  Draw vertical lines to mark events.  Print out your charts if it helps you and make notes.

No doubt you've missed some trades.  What can you do to get in at the right time next time?  Can you use entry orders?   Can you catch the wave on a rebound?   Perhaps you can go down to a lower timeframe and find an entry.  Compare higher and lower timeframes.  Become a master at drawing trendlines, channels, and spotting important price points.

Just don't get overwhelmed, pick one currency, one system.  It's like picking a hobby.  Sure you could play Golf, Soccer, Football, Badminton, Rugby, and Hockey.  But which sport do you do best at? Which one fits your schedule? Juggling all of them isn't gonna work.  Same with trading.  Pick a currency, system, study it.

As much as I love trading, I also enjoy kicking back and putting my feet up.  Monday will roll around soon enough and it'll be back to trading!

Handy MT4 Script - Draw Ellipse

Here is a handy MT4 script that I've written to draw an Ellipse to wherever you drop it.

Just drag and drop the script and voila.  You have an Ellipse.

The script automatically sizes the Ellipse regardless of time frame and currency pair.
Much easier than using the built in draw ellipse functionality.

Here a sample screenshot:

Download the Script here:
Draw Ellipse.ex4   Draw Ellipse.mq4  

For the latest version check here:
http://www.forexfactory.com/showthread.php?t=532055

Kombucha

What are you drinking when you're day trading the forex market?    Years ago I discovered Kombucha.  (Booch for Short).  No not the country Kombucha (Cambodia), but the drink.  It is organic, super healthy, detoxifies your body, and gives you energy.  And it's sweet and bubbly but does not have many calories.

Kombucha has been around for thousands of years, mainly in Asia and Russia.   In Japan there is a kelp tea.  The Japanese word for kelp is Kombu.  That is quite similar.  Others say the drink was made popular by Dr. Kombu from Japan and Cha means tea.

If you are in Europe or North America then you are lucky and can purchase Kombucha in organic stores.

I started making Kombucha for fun and to save money.  At $5 per bottle, 3 times per day = $15 per day or $450 per month.  Making it costs you only a cup of sugar and 8 tea bags per 4L batch.  The biggest expense is the Scoby (Symbiotic Colony of Bactery and Yeast).  It's a starter culture that will multiply and produce baby Scoby's with every batch you make. 

Kombucha Scoby

How do you make Kombucha?  In a nutshell, all you need is Water, Sugar, Black & Green Tea Bags (or loose leaf), mason jars, and a Kombucha Scoby. 

First you boil the water, add the sugar, boil some more, add tea, simmer.  Let it cool down and then transfer to a mason jar and add the Scoby.  Cover and wait 5 days.  The Scoby will ferment the tea.

You can do a second fermentation by moving the Liquid (without the Scoby*) to a bottle and adding berries or sugar & ginger, or other fruits.  The key is having enough sugar for it to ferment.  It will become nice and bubbly in 3 to 5 days.  After that you can keep the Kombucha in the fridge.  *Store the Scoby in a glass jar with lid or add it to a new batch.  It should have enough liquid to cover it.

Here are the illustrated instructions, and a good place to buy your first Scoby and Starter Liquid if you are in North America.   Always get a Scoby from a local source or from within your country or continent.   I had a hard time finding one in Thailand and it was expensive but now I have many Scoby babies. 

First Fermentation

Second Fermentation

Do's and Don'ts:

• Do keep all your equipment clean
• Do use quality glass mason jars
• Do use glass bottles to store
• Do use white sugar (best for fermentation)
• Do filter the tea before adding it to the jar if you're using loose leaf tea
• Do cover tightly and double up in warmer countries (otherwise you get mold)
• Do use very clean freshly laundered cotton cloths, only use them for Kombucha
• Do add some vinegar if you are in a warmer country (otherwise you may get mold)
• Do ferment in a dark area that has good air circulation and no dust, garbage, cooking smells, or smoke
• Do check on your Kombucha every day and check for mold (anything fuzzy, colorful)
• Do throw out any moldy Kombucha and Scoby
• Do use a stainless steel pot to boil the water (stainless steel kills bacteria)
• Do NOT let any stainless steel utensils or containers get in contact with the scoby or Kombucha (stainless steel kills good bacteria too)

Where to Get a Kombucha Scoby?

If you are in Thailand then google "Kombucha Phuket Craigslist" and you will find my ad. 

I sell 1 Scoby for 300 Baht and 2 for 500 Baht.  I can also ship within Thailand for an additional 200 baht.

Forex Alerts

I am happy to announce a new service that I am offering my clients.  Forex Alerts.

If you have read my blog then you know that I am a big believer in semi-automated trading.  I believe in automation to provide Forex Signals to review potential trading opportunities with the goal of making a profitable trade.

For this reason I have developed Forex Alerts for 6 of my proven Strategies.  These Alerts are based on Daily, Hourly, and Correlational Strategies that I have been developing for EURUSD, GBPUSD, USDCHF, EURJPY, GBPJPY, USDJPY, AUDUSD, AUDJPY, USDCAD. 

The Alerts provide a trend, bias, trendlines, upcoming news, notes, and Screenshots to make better trading decisions.

Here are some Sample Screenshots of the type of email alerts you can receive.  That's right, these are actual picture attachments that are sent to you via email.   Most signals are boring, they are nothing but text.  Worse yet, how can you make a trading decision without seeing the chart?   
Included are trend analysis, commentary, a weekly bias, and my personal bias.

Forex Signal Subscription

• "Week Ahead" Trading Commentary
• Session Reports
• Trading Tips
• Signals for 6 of my Trading Systems
• with Chart Analysis
• and Chart Screenshots
• plus a Weekly Bias
• and my own personal Bias
• Average of 7 Signals per Day
• PLUS an Introductory Email sharing 6 of my proven strategies!
• Starting at Only $29 for a 3 Week Trial

Sign up to my one year subscription and I guarantee you will make more profitable trades!

No Results - No Fee. 

Subscription Options

Trial - 3 Weeks $29.00 USD 3 Months $99.00 USD 1 Year $299.00 USD

Upon receipt of your payment you will be contacted to confirm the email address to use for the subscription.

Testimonial
"Signing up for the alert service has really been beneficial for me over the last month.  I have had the most profitable month yet with the bonus of not having to check the charts all the time.  The alert emails have been letting me check the charts only when the market is moving to a potentially good entry point.  The screen shots with the bias on them have been a huge help in making higher probability trades.  Thank you so much for taking the time to create a well thought out, well executed alert system that only sends out meaningful information!" --- Brendan, April 2015, Presently Traveling South East Asia, Living in Calgary, Alberta, Canada

Backups, File Sharing, and More!

One of my frequently used tools that I am not sure I mentioned to you before is Dropbox.

Dropbox is great for sharing files, synchronizing files and pictures across computers, smartphones, and tablets.

I use it with my VPS.   That way I always have all my latest files on all my devices and should I buy a new device, it syncs automatically.

I highly recommend you give it a try.

Here is a link with some FREE Diskspace! https://db.tt/CavZkQib