Re: Design your own System like the Pros Do
Posted: Sat Jul 15, 2017 6:16 pm
Yes, there are many things in trading,as a matter of fact I could add another 100 or so items to the list.
Are they relevant to this course?
No, they arent , not at this point,to put you on the first step of reaching the 5%
The whole reason of this course is to teach the basics and mindset , to give an opportunity to traders old and new to move from the 95% to the 5%
The purpose of this exercise was to show that you can start to reach your goal now with only the very basics to start you off.
You become a mucher better Trader by keeping it simple..what is the point of knowing things that you dont need to...you are just complicating things.
Do you really think that you need to know everything to be successful?
If you concentrated on learning everything there was to know about trading,all the ins and outs,you would think that you needed to be able to trade every candle,and that would lead to overtrading(the wost thing any trader can do!!!!)
The mere fact that after a trader did just 3 exercises and managed to make a profit of 60 pips in a week,which equals out to 240 pips in profit for a month..is that
not a good starting point?
Did I say ,that these indicators were just a starting point?
Yes, I did, I expressed that you needed to replace these with what indicators suit you best,,Didnt I?
If you can make 240 pips with just using the very basics and your brain?
Think how much you can progress on expanding your skills.
As I said many times, I am a simple man
If I may I would like to express this course and what hold people back in 3 real life scenarios of mine.
Please read between the lines and really think what these little stories mean.
1.
My daughter went to University,she was given an assignment that she had to write 2000 words on.
It consisted soley on one basic question and then she had to write on it.
Well,she spent a month doing it,she proudly showed it to me, and believe me it was beautiful,I mean she had the pics attached and the part at the end where she listed her references etc.
We were sure that this was a surefire winner.
She handed it in and we were expecting at least a 90 if not more.
She received her assignment back after being marked...she just passed a paltry 56%.
Her best friend,who did not put as much effort into received 78%
When the marks were queried..the reply from the university was simply,she did not answer the question that was put to her.
she elaborated on advanced things to do with the question and too little time just answering the basic question.
2.
My previous career was a motor mechanic..every 2 years I would be given an apprentice to train.
I used to dread the day i met my new apprentice...Why?
Because,i would learn what the next 6 months of work was going to be like..pleasure or pain.
There was only 2 types
The first would be the kid that had a family member as a mechanic,or perhaps he worked after school at a mechanical business etc.
He was very easy to teach.
The other type..conversation usually was this.
me "have you ever been around engines etc,part time job at a mechanics etc?"
apprentice "Yeah,Yeah I know a lot about it"
me "really,thats great..and what eperience."
apprentice "Yeah,every weekend I fix all my friends cars..I mean I can do it all..I was born to be a mechanic"
me "Ok, you can help me replace a pressure plate"
I would remove the clutch plate and pressure plate with him watching.
I would then send him on a errand , and while he was gone,I would substitute 2 of the bolts.
On his return,I would say
me "Do you think you are able to put the new plate in for me?"
apprentice "Yeah,no worries,I have done this lots of times."
me "Now,the most important thing to remember,no matter what job on a car you do is,be constantly observant to what you are doing,if you make a mistake here,it could cost people their lives OK"
apprentice "Yeah,I can do it,done it heaps of times,do not worry about me"
After he had finished,i would check it and say to him
me "Looks good...How often did you say you fixed your mates cars?"
apprentice "every weekend!"
me "Has it ever occurred to you,that because you work on the same cars week in week out..that maybe..just maybe..your doing something not quite right?"
I then explain to him about...that all bolts are not the same..there is such things as sheering strain tensile etc.
The thing with this kid is..he is good..but till he forgets what he thought he new,and started back at the basic,he would never reach his full potential.
3.
I taught my daughter to drive.
I live in a area of floods and droughts..it has never snowed here.
My daughter travels 100klms a day to work..she is a school teacher.
After she got her license,I needed to show her the finer points of driving that would help her keep safe while getting to her destination.
On saturday morning,I had to decide what she need to know.
1.Did she need to know the full internals of the engine?
2.Did she need to know how to put snow chains on?
3.Did she need to know how to handle the car in wet weather?
What do you think I showed her?
Of couse driving in the snow is an important part of driving,but its not neccessary for her now..Snow chains when and if she moves to an area that has snow.
My Friends,
I am uneducated but yet my yearly income from trading has been in the 7 figures range each year for the last 13 years.
My secret has been very simple..keep things very simple and dont give up.
Why have you shared this thread?
Is it me just stroking my ego..trying to impress you ALL?
I will tell you the reason
The first post,I told you how my career started and now the story ends.
Jimmy is aware of my position...I asked permission before starting
I will now explain it to you
Even as a very experienced Trader,we can all make silly mistakes.
PLEASE PLEASE DO NOT MAKE THIS MISTAKE!!!!!!!!!
January 2015..I was sitting at my tradeing desk..it was good session for me..I had got my target..I only aim for a 20 pip profit per day.
I decided to try the new trade script I had been looking at.
So i put it on and went to the toilet.
From the toilet I heard my wife call me frantically.
I raced out of the toilet without my pants..looked at the chart and lost my shirt!
I was in a CHF trade...without warning the bank uncapped the Franc..within a minute many traders and brokers had gone broke!!
I had forgot to add the Stop Loss to my trade!
18 Traders here in Australia stood to lose a joint total of $14 million...I was one of them.
In the end of a very stressful court case,I won my case...but the legal fees..well they were enormous!
I am not a young man,and the stress of all this caused me to have a stroke.
I suddenly only had 22%vision..20% is legaly blind.
A couple of weeks ago,I was informed that my eyesight was deteriating...and told to give up trading to try and prolong my eyesight..cause I am going into that dark world
I am not bitter and blame trading..quite the opposite,I love trading and everything I have, has been cause of this wonderful business.
The reason I started this thread was not ego driven,as in a very short while I wont be able to read it anyway.
It is still selfish on my part though,,,I want to leave a legacy to this industry.
My overwhelming desire has been to help ordinary people like you become successful, You become successful by helping other people to become successful!
So my dear fellow traders, I realise I said i would take questions this week,but I am afraid that I will stop now and spend the rest of the time I have gazing at my beautiful family..bye my friends
I can Not thank you enough for allowing me to share this
AussieBeau
Are they relevant to this course?
No, they arent , not at this point,to put you on the first step of reaching the 5%
The whole reason of this course is to teach the basics and mindset , to give an opportunity to traders old and new to move from the 95% to the 5%
The purpose of this exercise was to show that you can start to reach your goal now with only the very basics to start you off.
You become a mucher better Trader by keeping it simple..what is the point of knowing things that you dont need to...you are just complicating things.
Do you really think that you need to know everything to be successful?
If you concentrated on learning everything there was to know about trading,all the ins and outs,you would think that you needed to be able to trade every candle,and that would lead to overtrading(the wost thing any trader can do!!!!)
The mere fact that after a trader did just 3 exercises and managed to make a profit of 60 pips in a week,which equals out to 240 pips in profit for a month..is that
not a good starting point?
Did I say ,that these indicators were just a starting point?
Yes, I did, I expressed that you needed to replace these with what indicators suit you best,,Didnt I?
If you can make 240 pips with just using the very basics and your brain?
Think how much you can progress on expanding your skills.
As I said many times, I am a simple man
If I may I would like to express this course and what hold people back in 3 real life scenarios of mine.
Please read between the lines and really think what these little stories mean.
1.
My daughter went to University,she was given an assignment that she had to write 2000 words on.
It consisted soley on one basic question and then she had to write on it.
Well,she spent a month doing it,she proudly showed it to me, and believe me it was beautiful,I mean she had the pics attached and the part at the end where she listed her references etc.
We were sure that this was a surefire winner.
She handed it in and we were expecting at least a 90 if not more.
She received her assignment back after being marked...she just passed a paltry 56%.
Her best friend,who did not put as much effort into received 78%
When the marks were queried..the reply from the university was simply,she did not answer the question that was put to her.
she elaborated on advanced things to do with the question and too little time just answering the basic question.
2.
My previous career was a motor mechanic..every 2 years I would be given an apprentice to train.
I used to dread the day i met my new apprentice...Why?
Because,i would learn what the next 6 months of work was going to be like..pleasure or pain.
There was only 2 types
The first would be the kid that had a family member as a mechanic,or perhaps he worked after school at a mechanical business etc.
He was very easy to teach.
The other type..conversation usually was this.
me "have you ever been around engines etc,part time job at a mechanics etc?"
apprentice "Yeah,Yeah I know a lot about it"
me "really,thats great..and what eperience."
apprentice "Yeah,every weekend I fix all my friends cars..I mean I can do it all..I was born to be a mechanic"
me "Ok, you can help me replace a pressure plate"
I would remove the clutch plate and pressure plate with him watching.
I would then send him on a errand , and while he was gone,I would substitute 2 of the bolts.
On his return,I would say
me "Do you think you are able to put the new plate in for me?"
apprentice "Yeah,no worries,I have done this lots of times."
me "Now,the most important thing to remember,no matter what job on a car you do is,be constantly observant to what you are doing,if you make a mistake here,it could cost people their lives OK"
apprentice "Yeah,I can do it,done it heaps of times,do not worry about me"
After he had finished,i would check it and say to him
me "Looks good...How often did you say you fixed your mates cars?"
apprentice "every weekend!"
me "Has it ever occurred to you,that because you work on the same cars week in week out..that maybe..just maybe..your doing something not quite right?"
I then explain to him about...that all bolts are not the same..there is such things as sheering strain tensile etc.
The thing with this kid is..he is good..but till he forgets what he thought he new,and started back at the basic,he would never reach his full potential.
3.
I taught my daughter to drive.
I live in a area of floods and droughts..it has never snowed here.
My daughter travels 100klms a day to work..she is a school teacher.
After she got her license,I needed to show her the finer points of driving that would help her keep safe while getting to her destination.
On saturday morning,I had to decide what she need to know.
1.Did she need to know the full internals of the engine?
2.Did she need to know how to put snow chains on?
3.Did she need to know how to handle the car in wet weather?
What do you think I showed her?
Of couse driving in the snow is an important part of driving,but its not neccessary for her now..Snow chains when and if she moves to an area that has snow.
My Friends,
I am uneducated but yet my yearly income from trading has been in the 7 figures range each year for the last 13 years.
My secret has been very simple..keep things very simple and dont give up.
Why have you shared this thread?
Is it me just stroking my ego..trying to impress you ALL?
I will tell you the reason
The first post,I told you how my career started and now the story ends.
Jimmy is aware of my position...I asked permission before starting
I will now explain it to you
Even as a very experienced Trader,we can all make silly mistakes.
PLEASE PLEASE DO NOT MAKE THIS MISTAKE!!!!!!!!!
January 2015..I was sitting at my tradeing desk..it was good session for me..I had got my target..I only aim for a 20 pip profit per day.
I decided to try the new trade script I had been looking at.
So i put it on and went to the toilet.
From the toilet I heard my wife call me frantically.
I raced out of the toilet without my pants..looked at the chart and lost my shirt!
I was in a CHF trade...without warning the bank uncapped the Franc..within a minute many traders and brokers had gone broke!!
I had forgot to add the Stop Loss to my trade!
18 Traders here in Australia stood to lose a joint total of $14 million...I was one of them.
In the end of a very stressful court case,I won my case...but the legal fees..well they were enormous!
I am not a young man,and the stress of all this caused me to have a stroke.
I suddenly only had 22%vision..20% is legaly blind.
A couple of weeks ago,I was informed that my eyesight was deteriating...and told to give up trading to try and prolong my eyesight..cause I am going into that dark world
I am not bitter and blame trading..quite the opposite,I love trading and everything I have, has been cause of this wonderful business.
The reason I started this thread was not ego driven,as in a very short while I wont be able to read it anyway.
It is still selfish on my part though,,,I want to leave a legacy to this industry.
My overwhelming desire has been to help ordinary people like you become successful, You become successful by helping other people to become successful!
So my dear fellow traders, I realise I said i would take questions this week,but I am afraid that I will stop now and spend the rest of the time I have gazing at my beautiful family..bye my friends
I can Not thank you enough for allowing me to share this
AussieBeau