After learning on what on how the arbitrage is and the explanation of one way trading, it is the time of us to do a self actualisation and proving of every thing.
1.Prepare your PC/laptop/PDA, ensure it has been connected to the internet.
2.Choose one of the brokerage firm you like such as Millennium Penata Futures. Just visit www.mpf.co.id, follow the given instructions to download a trading software.
3.After downloading and installing it, please open a demo account.
4.Having appeared the Millennium Trader software, it means that your computer has been a money maker machine.
5.Choose four indicators at maximum, due to your trading software offers so many indicators. More indicator you use, more confused you would be.
6.Just choose like: Parabolic SAR, Alligator 3,6,9 all are set on Simple and Open.
Here, we will not talk about and explain indicator too much since there is no a perfect thing in this case. You may learn and trust on whatever indicator you believe.
What I want to speak out is about the trading pshicology.
1.Just make a position if your indicator tell you so, never use your (bad) feeling.
2.Never entering any position just because of willingnes, being bored of waiting for so long time, want to get many lots (read: commissions), being worried of boss anger due to the lack of lots and so on. Remember, just trade when your indicator tells that, means if your point of view on certain indicator tells price will go up dan being at the proper price due to your analysis, just buy on the spot, do not hesitate to do it and the vice versa.
3.Never hold you loss position without stop loss, moreover doing average down if there is no such big backup fund. If you are the trader meanwhile your investor is the one who does not want to cut the loss, just warn him there are two choices; cut loss or prepare a big money, remember: very biiiiiiiig money. Never play with forex and stodex, when the market move against you 2-5 lots with available money is only IDR 100-200 million, it is just like a toothpicks for forex or stodex market. So, do not underestimate forex and stodex… Okay…
4.When you are running with profit and the indicator have signaled no reversal at all, do not too early to liquidate position, let it go. Do not limit your profit, be a robot for your analysis. Do not believe the hit and run concept, just making money for 5, 10, or 15 points, just repeated like it again, again, and again. But once market move against you, you will be loss for 100 points… What a pitty it is. Profit and loss is the characteristics of this investment, but just follow your analysis 100% discipline.
Remember! Never close your mind from new ideas. Dump the old principles and conventional paradigma. Once you say that it is very impossible to be success in forex trading, so at that time, without any command at all, your brain will be closed from the new ideas and it means that you are going to be a real looser. In any field, never stopping learn on it well.
Have a nice process of self control learning.
Or if you want to know further on arbitrage trading, just click here.
Salute,
Professor Trader
Sample of Hang Seng trading result
