Re: Design your own System like the Pros Do

51
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


Re: Design your own System like the Pros Do

52
This is how my basic setup looks like. It a merge of a footprint chart (the numbers are how many ticks are accumulated in a given range or box) with the normal candlestick chart. Below the ticks per candlestick. You see were the bulls and bears are actually struggling and why I'm absolutely no friend of fractals. The battles are mostly decided at other places. Often laggards come in and can give the trend a last short sun, but they can't rescue the already dead friend ("Trend is your friend" ;) So, don't be a laggard and see the signs of strength and weakness.

First, you must decide in what a market you are. HTF, range or trend and with a footprint chart the system stays actually the same for all three kinds, you just change the mode. Ask the right questions and with some practice you know mostly what the big players are up to and you can set tight stops. Why they struggle at this point? Often you can answer the question very quick by S/R and Pivot Point. Who is winning? Sometimes it may look that one side has won but its supporter can't push the market in this direction neither. That means that the fight isn't won and the odd is maybe over. Also the absence of incoming ticks is a sign - for a false break out, for a lag of confidence and the more time goes by, the more you should ask yourself why the odd wasn't taken and what will be the next sign? And who is coming in? Long wicks at S/R or Pivots are a sign that the market is out of balance and big long-term traders come in to push the market around. You can't make an omelette without breaking eggs. You need many eggs to break through a obstacle or to turn the market. Look for heavy occurrence of eggshells (ticks) and how the market moves and where the market is after all the broken eggs.


I like to trade GBPAUD. GBPJPY and EURJPY have a lot of ticks, so it is maybe easier to practice footprint charts. Many non-scalper pros only use footprint or market profile charts and nothing else. Trading ranges is a bit more work as trends but actually is doesn't matter at all - if you have understood the market flow.

PS: Recognizing the little Bullstrap (the fakie) before the News makes clear the money makers intend maybe something bigger and they want to get rid of smaller traders for making easier more money. The fakie and the break out down through the fighting zone (you only see with a footprint indicator) allow only one conclusion: it's going down by the elevator. That also makes clear that the money makers know the news before all others.

Re: Design your own System like the Pros Do

53
Nice chart..I know all those indicators.

You arent under the impression that my personal trade chart is the exercise chart are you?

I only chose the indicators for the exercise chart so that it would be easier to understand for new traders.

As the Lord knows how many times, I have stated that it is a base you have to change those indicators to develop your own system!..not to copy you or me..all that will do is keep them where their at now!

Forgive me but I am starting to get a little rattled by having to repeat the same things over and over..Is it really that hard to understand what I am saying..

Traders..look, you must make your own simple system,forget this crap about you gotta know all this complicated stuff.

You only need your own simple system NOT MINE.You do not keep trading the exercise chart,you replace the indicators with your own to get your best result!

Krelian99
Your chart obviously is good for you..more power to you.
But my friend it wont get other traders very far..they have to develop their own to reach their full potential.

I personally did not post my chart..because all that would do is encourage traders to copy mine and that would keep them in the position they are in today.

See that tip I posted about 024 124 Fib,
Have you any idea how much money I have made trading that tip alone...and without all the complicated crap..I have found many more little things like that..and thats ALL I trade...and it has made me a millionairre,and all without the other rubbish that most traders think they need to know.

It is exactly the belief that you need all the complicated crap that keeps traders in the 95%.

Now this is really my last post..I apologise for the tone of this my last post..but this is very tiring.
Traders, its up to you..
AussieBeau

Re: Design your own System like the Pros Do

54
AussieBeau wrote: Sat Jul 15, 2017 9:16 pm Nice chart..I know all those indicators.

You arent under the impression that my personal trade chart is the exercise chart are you?

I only chose the indicators for the exercise chart so that it would be easier to understand for new traders.

As the Lord knows how many times, I have stated that it is a base you have to change those indicators to develop your own system!..not to copy you or me..all that will do is keep them where their at now!

Forgive me but I am starting to get a little rattled by having to repeat the same things over and over..Is it really that hard to understand what I am saying..

Traders..look, you must make your own simple system,forget this crap about you gotta know all this complicated stuff.

You only need your own simple system NOT MINE.You do not keep trading the exercise chart,you replace the indicators with your own to get your best result!

Krelian99
Your chart obviously is good for you..more power to you.
But my friend it wont get other traders very far..they have to develop their own to reach their full potential.

I personally did not post my chart..because all that would do is encourage traders to copy mine and that would keep them in the position they are in today.

See that tip I posted about 024 124 Fib,
Have you any idea how much money I have made trading that tip alone...and without all the complicated crap..I have found many more little things like that..and thats ALL I trade...and it has made me a millionairre,and all without the other rubbish that most traders think they need to know.

It is exactly the belief that you need all the complicated crap that keeps traders in the 95%.

Now this is really my last post..I apologise for the tone of this my last post..but this is very tiring.
Traders, its up to you..
AussieBeau
Dear AB,
i have one small story to explain about these onging posts !!!
kerialn and AB.... just take this story as joke and fun. :) :) ;)
1. well assume new trader is a kid and student of AB ..
> Teacher AB took class how to trades and given basic logic .... and student listen all classes and tips without examples
> Teacher instructed to devlope his own methods followed by given insturction and basis knowledge of the trades
> Student didnt understand anything what you explain bez i am ZEROOOO level and not given any sample to make homework for follow the paratcial.
> Student requested next day i dint understand and fails to develop alone and requested to show sample. Then teacher says, you learn from my tips and study yourself :):)
> Student father approach teacher to get more clear from teacher for more samples to teach his son...and help his son to develop and get learn faster
> Teacher tired to give this sample and student is now in SQUARE ONE and father is in bad situation.
tips of the story.. " what we needs to transfer the matter shall be simple and understand to help others, othewise the efforts are worthless"

Dear AB,
when given the simplest way to learn the new comers will grasp faster... Which doesnt meant to follow your method.. For his several trades, he himself develop his new methods and logic to get him more profits (its nature theroy).. :)
So conclude dont get upset or scared to show your samples. This is only an guidlines...NO ONE WILL BLAME YOU...
God Bless you...
"There is NO GOD higher than TRUTH" - Mahatma Gandhi

Re: Design your own System like the Pros Do

55
ANicussieBeau wrote: Sat Jul 15, 2017 9:16 pm
Krelian99
Your chart obviously is good for you..more power to you.
But my friend it wont get other traders very far..they have to develop their own to reach their full potential.

I personally did not post my chart..because all that would do is encourage traders to copy mine and that would keep them in the position they are in today.
...
It is exactly the belief that you need all the complicated crap that keeps traders in the 95%.

Now this is really my last post..I apologise for the tone of this my last post..but this is very tiring.
Traders, its up to you..
AussieBeau
AussieBeau, please, stay calm. I guess your students didn't understand you right after your course. When I first came to volume I realized that there is something real behind it, you can call it third dimension, next to price and time. All three give the picture, miss one and you can't see it anymore. It took me one year to be really confirm with it and seeing the patterns emerge and changed my whole view on the market. It's a process one must permit. It was worth it. With your indis or the footprint chart it should sink much faster in the minds of the people, but still it needs time to understand.

I showed my basic chart to make clear that there are many ways to see the same and what you can see what is hidden by having only random indis on the chart. All the beginners and advanced saying the market isn't predictable, you don't know the other traders, the market is (kidding them because it's) rigged and so on. And most funny are the 'random walk' guys. Yes, the market is controlled, but that is ok. The money makers want to earn money, but that exposes them and we can follow them and so we don't belong to the mass of 95%.

Earlier, I predicted the market and was quite happy. But now I don't predict it anymore. I know what the market will most likely do. Forex is called the (Drama) Queen of trading, because there is no real volume and it is more rigged than other markets. I don't care what people say, I take what is there and make the best out of it and sometimes it's really good.

AussieBeau, give them time and wait a bit. You feed them but not all started to eat or are still eating. This approach is completely different than what is propagated to the mass and what most are used to. We must understand what we use. You also said that fancy blinky-blinky indis are nonsense and keep it super simple. Simple isn't easy, it's simple and effective.

Please go on. There is still more for a good system. Would you be so kind, Dear AussieBeau?


Re: Design your own System like the Pros Do

56
Geez....no offense Krelian, but why don't you open your own thread to load off your "know it all". AB was already trying to tell you that it does not align with the purpose of his thread. And "students" do understand what he was trying to achieve. Actually I can relate so much to it from my own experience that I very much appreciate what he did. After a journey of a 1000 indicators and trading systems I decided either to stop trading (I did make little money though) or decide to delete all and learn to trade naked. That does not mean that I sit in front of the computer with no clothes on.... :D ....My chart has got nothing on it except a F-Channel indicator (fractal). It connects the f-dots and shows me the breaks too. It's a visual thing! And the S/D levels I draw by hand. I found the tools AB provided and the exercise a real confidence booster. And the result is proving me right. That's all I care about. Thus, THANK YOU AB AND ALL THE BEST WISHES!

Re: Design your own System like the Pros Do

57
R+T, volume ticks are discussed very controversial. Are they useful or worthless? Most will say worthless, some even when they trade for 15years. It's not that easy to understand default volume ticks presentation, neither most don't want to look all the time on the screen like a zombie - Greetings to the DOM users ;) just kidding. Psychologically, it is always good to show your students first what is possible with the new stuff you will learn in a course. For the red string. I very often experienced courses and seminars which were good from a point with much more knowledge, but it was for beginners or non-connaisseurs. Often the seminars were frustrating because the stuff was tough (not very difficult but badly prepared for beginners) and you never had a clue for what you should learn that. Much, much later and in other cross-seminars you had your Aha-experience. This was at the university.

I feel a bit the same here. The stuff discussed here differs completely from the "Search the very best out of 1.000 indis" - approach many are still used to. For me the topic compared to the intention confuses me a bit - I absolutely don't say it's bad, but see the people without knowledge about volume. Now AB is a bit frustrated and the others maybe aren't happy either. But this is to important to let this run out in the sand - I hope you are with me. I just want to interfere to combine teacher and students again. Don't understand me as arrogant or fishing for attention. If I have bothered someone I apologize. I hope we can go on with the topic.

My first seminar in FX was completely BS. Two guys only said: Do not use indicators. They showed a candlestick-chart and a default MACD and nothing else. So, by far the most, including me, went home, wondering why there was a MACD on the chart and what else than indicators one should use. Fail. Other open seminars about volume are maybe well visited but in the end only one Third is still listening/present and even on many of them you can see the question-marks over their heads. I guess our goal is to change it into an exclamation marks.

Re: Design your own System like the Pros Do

58
Guys, let's keep it on topic thanks.
Hopefully AB will be nice enough to come back and continue posting insights and information.

Please be mindful and respectful of AB's wishes as it is his thread. Cheers.
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Re: Design your own System like the Pros Do

59
What I forgot to say, my chart shows exactly what AussieBeau's suggestion was. Candlesticks, candle-time, spread, ticks where they occur, but recorded so they are still visible, Daily and Weekly High and Low and the x.x000, x.x500 and quater lines. The two EMAs (dynamic S/R) and the volume ticks (per bar) are just extra, completely lore-friendly. No Fibos, no fractals. So why all the excitement? It is why the same is presented in a different look? Yes, I don't like the appearance of the template. Ok for learning, but the topic is still "Design your own System like the Pros do" after AB's suggestions. Done.
Do anyone think that a student learn less when the ticks are recorded? Do you want to teach and learn (we all can still learn) or loose the whole thing in arguing nonsense? If the later is the case, we should close the whole thread right away.


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