Re: Design your own System like the Pros Do

11
Lei Wulong wrote: Wed Jul 12, 2017 5:34 am Hey AussieBeau,

First of all, many thanks for sharing all this to us !
I have not been training with your templates yet, but I will, because I find it very interesting.
Lately I have been watching only M1 charts with my very (too) complicated system.
I trade only EURUSD on M1, but it has not enough volatility for me, so I'm practising now on a very correlated pair : EURJPY.
Normally, when EURUSD and USDJPY are rising, EURJPY will rise sharply. It's amazing how EURJPY follows EURUSD, many times at the exact same moment these rise and fall. In fact, when EURJPY does not follow EURUSD, it follows USDJPY ...
Of course, there will be several other correlated pairs, my observations only prove that 'something' happens when the big players come in 'play' and ones sees it best on M1.
You are right that something is about to happen when the spread gets tighter and smaller, that I have seen several times.

Lei Wulong
Hi Lei Wulong
Thanks for your post..I am looking forward to joining us
AussieBeau


Re: Design your own System like the Pros Do

12
sal wrote: Wed Jul 12, 2017 1:33 am well , could you please do one trade in video will be more easy for new traders like me.. !!:)
Hi Sal,
Thank You for your question.
I would first like to apologise to you and other new traders,for not taking more consideration towards new traders.
I could put a video up and show you how to trade,but would it really be of any benefit to you or others.
I will try to explain:
You will see that when the price line moves the volume will be telling you the strength whether the buyers or the sellers
are in control and how strong they are.
When the price meets a fractal SR,it stalls and either goes through it or turns in the opposite direction.
You trade by deciphering which way it is likely to go...if its going down,then how strong is the volume,where is the price
at etc.
The fractals are where battles have been held to gain dominance.
You get to know this by watching those indicators.
Ok,you get a handle on this,so now your ready to take a trade ok
You watch the candle,usually it has a wick and you see the price starting to reduce the wick..you keep an eye on the volume
and price.yep there still strong,so your ready waiting to take the trade,suddenly the wick is gone now and you see the
price just start to move..you check the strength price/spread and make your decision.
Sal,I will not tell anyone when and if they should trade..I am here to teach you how to decide when and if you
trade.

Note to all doing this course..this is not a race..please take your time,make sure you achieve the 20 pip profit target
before moving onto the next exercise...It is all about you getting comfortable and confident with what you are seeing

I will explain what this course actually is,this post is for the benefit of all traders regardless of their experience
level.


You all have heard the figures that 95% lose money and only 5% are successfull.( I personally query those figures but the
truth be known,not many retail traders even break even.)
Now why is that?
Please forgive me if you take offense with what I am about to say..but its simply the truth.
The biggest majority of people get into trading as an easy way to make money.
How do they learn the market?..simply they dont,they find forums and go straight to the trading system section.
They simply copy the system,that seems to be having success...they might make a little profit,but then it always turn sour.
So what do they do,..easy,they head straight for another trading system,copy it and have the same result.
As they go along,they are accumalating that many indicators,it gets ridiculous and when some ones system does not work they
add more indicators.
Just go to any forum and check the trading systems thread,most as they go along start adding this and that and by the end
of the thread its a system that looks nothing like the original post.
On and on this is repeated til they finally give up.
The traders that go onto success realise, that the secret is not in other peoples system,it is their own they have to
develop.

Now how do you develop your own system?
First and foremost,you have to know how the market works
simply put,the price goes up and down,if you buy when it goes up you make money,if you sell when it goes down you make
money...if you choose to buy when its going down or sell when going up,you lose money..correct
All we have to do is figure out what makes the direction...the chart has all the info there..we just have to decipher it.
so we use tools(indicators) that will gives us an idea of what is happening..note idea,not tell us!

4 main things to give us a shot at getting the market correct are price/spread volume SR and its estimated range.
We have to and this is a MUST, make sure that it is us making the decision,our brain is the number one indicator,all the

other indicators feed the data to the brain..simple,its my money and if I lose,I am sure that its going to be based on my
decision not a indicator.

I stated in the first post..3 things to be successful at trading
1. know the basics properly
2 your brain HAS to be the main decision maker
3.Develop your own system
I am combining all these 3 things to each exercise I am giving

There will be 5 templates given in this course..on each of these you will be learning how the info correlates with each
other by putting demo trades on so you can recognise what is happening and what you need more info on.
At the end of the 5 templates,you will then have an idea for example know how SR works and then you replace the fractals
with your indicator,try maybe trendline for a start..trade it and see if it gives you better profit,you do not have 2
indicators doing the same job.If it works great,if it doesnt look for a replacement..the main thing,is that you now know
your weakness and can look for a specific indicator..namely SR for this example..you dont put any thing on a chart just because it looks
good..You only need the indicators that satisfy the data collection of one specific thing.
I really hope I explained that OK.

You will notice that by just having these 3 indicators on,it is really simple for your brain to accept the data...if you
put too many indicators,you get brain overload and your brain goes stuff this I will leave it to an indicator!
The point is,you do not need a 100 indicators on a chart,when 4 or 5 will supply you with better info..its really that
simple.
Please understand,that each individual deciphers thing differently..this is why a system works for its developer and no one
else
...you will all have weakness in different areas..one might need extra info on sr,while another it might be volume etc.
That is why,we are starting on these basics,so that we will learn what exactly is holding us back.
The indicators I put up are very basic stuff,they are simply there to give a visual,you will replace them with your own
indicators as your aim is to get the best tool to do the job,not to look pretty.
Really really important:do not get attached to any indicator!!!

Now,this is a true story.
I used to be not home much,travel etc,so had a lady come in a couple of times a week to frehen the house up etc.
My wife on this occassion went on holiday to the states..visit grandekids..gone for 2 months.
I thought great,I am not that messy,I will save on the cleaner and visit mates and what not.
The day before she got home, I had a heavy hang over and cleaned the place up.
She was only home less than an hour...quick note,do not get on the bad side of my wife.
She called me into the kitchen:
Her:"What the hell is that living behind the Refrigerator?"
Me:"I am not sure what it is ,I just call him Harry."
Her: "You got that right,its hairy"
Me" Harry not hairy"
I could see she wasnt impressed and oh my hangover did not need this,so I thought how can I get out of this.
Me" Darling,this is all for you,look at it,it changes color every time you look at it,Its the Holy Grail,maybe the cure for
cancer!
moral..things that look great and changes color,are not neccessarily the best for us.
BTW:Harry , I think started life as an orange

I will post exercise 3 in a couple of hours
Do not go onto it until you achieve your 20 pip target on exercise 2
AussieBeau

Re: Design your own System like the Pros Do

15
Hi Guys,
This will be a short post..I am all posted out after the previous post.
This exercise will touch on range.
There is a new template and indicator.
The Fibs are very old school but this will show you range and also show a bit more on SR.

Now, you will see 2 fib indicators..one is for the inside fibs(between 23 and 76)
The other is marked extensions fibs...the markets range is simple,its the distant it travelled from highest high to the
lowest low for the previous day. these extensions are fibs that go further than the High and Low 024 036 124 and 136 fibs.
Yesterdays High and Low on your chart are actually yesterdays 0 and 100 fibs.
Your opening price of the new day is very important...SR
You will notice the market most usually will go lower than the previous days low or higher than the previous days high.

You can use both fib indicators if you want a little bit more SR or you can just use extension fib if you want range.
A note about fibs..they are a special way of trading..we do not need to know the ins and outs,for this exercise it is
purely for visual SR and Range..OK


Tip:
1.Over the years we have seen more often than not a price will hit the 124 or 024 fibs..they are a good marker if your in a
trade and you want an idea of how much further is the range.
2.Only trade the color of the D1 candle
I have posted 5 snaps of price and the extended fibs from 5 different pairs..all taken on the same day note how the price hits the extended fibs

AussieBeau


Re: Design your own System like the Pros Do

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Lei Wulong wrote: Wed Jul 12, 2017 7:28 am Just one question : since I'm used to trading M1 and since I'm not patient enough to train your templates on M15, can I do that on M1 too ?
Hi Lei Wulong
Sorry my friend..it must be the M15.
I chose the M15 simply because it moved slow enough for us to study what was going on and have enough candles to compare.
This course must only be on the M15
I mainly trade daily..sometimes M5 M15 H1 or whatever I feel comfortable with at the time.
The thing is if you were patient enough to do this course..you could trade it on any timeframe.

AussieBeau

Re: Design your own System like the Pros Do

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pacois wrote: Wed Jul 12, 2017 7:37 am Hi, sorry, maybe it's better to clarify the Professor AussieBeau, who works in binary options ..
Hi Pacois,
I am sorry..I do not understand what it is your asking.
If its about Binary Options..the simple answer is I do not call BO trading..I would not answer a question on it.
Sorry if it offends some people..
AussieBeau

Re: Design your own System like the Pros Do

19
AussieBeau wrote: Wed Jul 12, 2017 8:31 am Hi Lei Wulong
Sorry my friend..it must be the M15.
I chose the M15 simply because it moved slow enough for us to study what was going on and have enough candles to compare.
This course must only be on the M15
I mainly trade daily..sometimes M5 M15 H1 or whatever I feel comfortable with at the time.
The thing is if you were patient enough to do this course..you could trade it on any timeframe.

AussieBeau
Ok, thanks for the answer.
Hmm, I will think slower and watch M15 for now ...if I had no patience I would have stopped trading already a long time ago. It's always hard to change a habit, but if I can trade M1 after the course, no problem at all. :)

Re: Design your own System like the Pros Do

20
Lei Wulong wrote: Wed Jul 12, 2017 8:49 am Ok, thanks for the answer.
Hmm, I will think slower and watch M15 for now ...if I had no patience I would have stopped trading already a long time ago. It's always hard to change a habit, but if I can trade M1 after the course, no problem at all. :)
Thats great...I am glad you are going to give this a try.
This course is all about changing bad habits and developing good habits my friend.


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