sal wrote: ↑Wed Jul 12, 2017 1:33 am
AussieBeau wrote: ↑Wed Jul 12, 2017 1:03 am
Just a late tip/Health warning:
When doing these exercises...please remember to breathe!
I actually had a student concentrate so intense,he forgot to breathe...True story I kid you not!..fell straight off his chair!!!
AussieBeau
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
