i’m very free today, so here goes

1. what’s wrong with giving back money to the market. if you can’t loose, don’t trade.

2. right, trading is an individual game( like golf) , don’t try to copy others.

3. you can’t even master your own trading system and no one can, let alone mastering others.

4. yes, trading (in my opinion) cannot be taught. there are thousand if not millions of coaches, courses, books etc out there, are you going to go through them all?

5. what’s the point of buying a beoing 747 and you can’t fly it?

to conclude

the reward for trading successful therefore is to survive (you will be lucky if you can do it long term) in the market, let you live another day to trade.

it is not about how much money you can make, but how much is left for you to trade tomorrow.

sounds the same?
no, its a whole world of different.

Hello, I had generated 2,929 pips since start of 2009 (and many more profits before 2009), maybe I can help in your questions.

1) Jmot said:
One may be having a winning streak, but will he give it back to the market tommorrow?

My answer:
A good system is a strategy that has back tested and forward tested again and again over an extended period of time. We may give back our profit to the market tomorrow but you know that this system has been doing well in the past for a long time, it has a high chance of continue to do well in future.

I had found this system call BL TS System, I am using this strategy to trade for myself and also to teach my students.

2) Jmot said:
Unable to model another successful trader because of different personality, style, capital, available time to trade, risk tolerance and risk appetite

My answer:
Forex is the most flexible financial instrument, there is no excuse for lack of capital. A successful trader may be trading 100,000 per trade, if you do not have that amount of capital, there are mini and super mini contracts.

No time is a big excuse. If you are not willing to commit time and effort to learn a craft, then don’t waste your time.

3) Jmot said:
Ok, there is mind, money management and method, but how can we tell if we have mastered them? For method alone, there are over thousands of indicators, hundreds of candlestick and chart patterns and more. Which is a good combination?

My answer:
I had spent years and years of testing, modifying and rebuilding system to achieve what I have today. So you need to figure out which one you should use.

If you cannot create a good system yourself then you need to learn from others.

4) Jmot said:
Well, I have attended a couple of courses but yet to be considered successful

My answer:
Are those course educators profitable traders in the first place? If they are not profitable traders, they may be teaching the wrong things. If the educators are teaching the wrong things, their students will not be able to be profitable.

Many graduates of various course has signed up for my online course. They had told me many complains of those courses.

5) Jmot said:
One can have the best and most expensive trading and charting platform and still cannot trade successfully

My answer:
Unless you are into high frequently trading, you do not need the fastest connection and most expensive platform.

A simple connection and basic platform will be sufficient. That’s what I am using now.

JMOT,

It is unfortunate that you are still running around in circles since the day I first met you.

Just for the sake of fun:

Magician: Clear end state - One will know if he is ready to go on stage to perform

Trader: Clear end state - One will know if he is ready to trade, regardless of results, he knows he has executed his plan.

FEAR: One may be having a winning streak, but will he give it back to the market tomorrow?

Question: One may give back to the market tomorrow, but will he double his earning after that?

Magician: Able to model someone who is already successful - Learn how a master speaks, his eye contract, how he carry himself on stage, his style, his techniques etc.

Trader: Able to model someone who is already successful - Learn how a master trade, what he looks for, how he thinks etc.

EXCUSE: Unable to model another successful trader because of different personality, style, capital, available time to trade, risk tolerance and risk appetite

Question: All across the board, successful traders have the exact same traits. Why?

Magician: Clear steps to success - One knows what to learn eg, card tricks, rope tricks, closeup magic, large scale magic etc.

Trader: Clear steps to success - One knows what to learn eg, technical analysis - bar patterns, candle patterns, chart patterns, Elliot wave etc.

FEAR: Ok, there is mind, money management and method, but how can we tell if we have mastered them?

If you don’t know, get a second opinion or a third or a forth. Money management is pretty straight forward, simple set of rules for you to follow isn’t it?

Mind, it’s a never ending journey, raising awareness is one of the ways to track your progress. Else get a coach… after all a coach is not there to teach you how to trade better, rather to keep you in check so that you do what you NEED to do and not what you WANT to do.

Method, seriously, candlesticks has been around for more than 100 years? It has been way proven hasn’t it? If you do what textbook says and it continue to fail, don’t you think you need to check yourself?

And the fear of failure… well, have a good talk with yourself and your wife.

HOLY GRAIL SEEKING: For method alone, there are over thousands of indicators, hundreds of candlestick and chart patterns and more. Which is a good combination?

There is no such thing as a good combination, if you do cook, you should know that there is no one knife that cuts everything.

Magician: Can be taught - We can see children as young as 3 years old performing magic!

Trader: Can be taught - We can see children as young as 6 years old trading e-minis.

EXCUSE: Well, I have attended a couple of courses but yet to be considered successful.

Seriously JMOT, not to insult or attack, if you feel offended, I would suggest you put down your EGO. What is successful? Making 1 million in like 3 months?

You do not give yourself credit, you do not give yourself encouragement, you do not apply what you have learned. Then claim what you have been taught don’t work?

How long have you stuck with each of the systems you have been taught? How long did you practice? How much did you understand what you have been taught? How long did you tough it out when you hit a rough patch with the system you have been taught? How much documentation did you do on each of the practice and lastly, how much did you review them?

Magician: Apparatus aids progress - Don’t know sleight-of-hand magic? No worries, there are magic apparatus that can lower that learning curve!

Trader: Don’t know how to trade? No worries, there are automated trading system that you don’t even need to trade!

TRUTH?: One can have the best and most expensive trading and charting platform and still cannot trade successfully

So what does that show? It shows nothing, just FYI, the best and most expensive apparatus aids can get you killed if you are not verse in your arts.

You’re highly educated and smart, so you should know by now what I am getting at. You do not need anymore more trading lessons for they do not resolve your psychological challenges.

I am writing this because I care, it doesn’t matter to me if you lose in the market. Infact if you lose in the market, I have to thank you for your contributions. Who knows, you might be feeding my family right now!

Sounds great Coconut, I thank you on behalf of my family and the various indirect connections that benefited from your contributions.

Hi Jmot,

Just to give my opinion, dun think of the market as too complex, its just price action moving up n down from anytime frames u use.Price move and retrace thats all.

Ask yourself empowering questions like:
How can i increase the probability of my trade?
etc..multiple timeframe analysis, how to choose which pair to give the most probability trade…
How can i remove all the emotions away when im trading?
etc..listen to relaxing music, meditation, money management tatics..

When u focus in asking yourself these questions u will find the answers yourself, thats how the human brain works.

I have observe that many successful traders always have a bias before they trade..whether a successful system traders, discretionary traders they always have a bias. Bias will be how you read the market. Some traders will use fundamentals for the bias, others like me i like to use larger timeframe for my bias.

Hope it helps

to EF, it’s my pleasure. hope it’ll last.

jmot, in this forum you used to agreed with everybody’s opinion (a typical trend follower), may be you’re not sure, or may be you just want to please every body.

to learn from others, even the top trader will still make you a trend follower.
nothing have change! (trend following can be very profitable if you apply it well).

what you just did was an act of contrarian opinion, it is also vital to your trading results. without it, you are certainly going no way. (that’s why i’m very please).

don’t be afraid to have a contrary opinion even against the most successful trader, (i when long the stock market while jim roger was shorting the financial stock all over the place) it is the market that you are going to face eventually.

i’m a natural contrarian but not until i’ve learn to trade following trend that i became “you know what”.

hence my favourable quote: “this is a bull market you know!”

just in case you are confuse

here the comunication is express through words (for or against)

in trading, the communication is express through price (for or against).

EF

“I apologize for making “silly” suggestions…”

not to please you but by far this is the best post i’ve read in this forum.

yes, yes, yes, if there is one thing a trader must have, this is it!

it is your ability to acknowledge your “mistake”, and most importantly, change it (without hesitation) so as to change the outcome.

not being afraid to make mistake, and not being afraid to “adjust” the mistake.

damn, i’m happy for you.