Got my ticket placed in for the ride
Friday 26 August 2011
Saturday 20 August 2011
Master Trader you have been Promoted
Master traders
You have been promoted to CEO/Executive Director of your life and business as a Master trader
1st task that you have been given is the Job of being Firm, fair and friendly with yourself.
2nd Task You have been set is that you are now responsible for how feel and the range of experiences you will have as a master trader CEO/Executive Director.
3rd Physically we are all energy and everything within and around us is made of energy see the energy in your charts.
4th Your task is to understand that you control and create your energy be it positive or negative you can change the frequency at any time. For instance imagine driving when your tired angry or upset this impacts the quality of your driving. Now imagine trading under similar conditions......get my point..... you will take it into your trading be it negative, poor or self destructive.Believe me this is more difficult to control than it sounds. You have a choice of when to trade, how to trade and most importantly when not to trade.
5. You must see yourself like a sniper waiting hidden and out of sight in-between the ridges or beneath the undergrowth. Ultimately, patiently, calmly setting up the trade for the sniper head shot. And that my friend is a skill within itself.
Kasim Ijelu
Timeless Thoughts
You have been promoted to CEO/Executive Director of your life and business as a Master trader
1st task that you have been given is the Job of being Firm, fair and friendly with yourself.
2nd Task You have been set is that you are now responsible for how feel and the range of experiences you will have as a master trader CEO/Executive Director.
3rd Physically we are all energy and everything within and around us is made of energy see the energy in your charts.
4th Your task is to understand that you control and create your energy be it positive or negative you can change the frequency at any time. For instance imagine driving when your tired angry or upset this impacts the quality of your driving. Now imagine trading under similar conditions......get my point..... you will take it into your trading be it negative, poor or self destructive.Believe me this is more difficult to control than it sounds. You have a choice of when to trade, how to trade and most importantly when not to trade.
5. You must see yourself like a sniper waiting hidden and out of sight in-between the ridges or beneath the undergrowth. Ultimately, patiently, calmly setting up the trade for the sniper head shot. And that my friend is a skill within itself.
Kasim Ijelu
Timeless Thoughts
Thursday 18 August 2011
Currency Harmonics, EUR,AUD,CAD, CHF Awaiting News
Pair: EURUSD
Date :18/08/2011
Time:13.30pm
News: USD
The Initial Jobless Claims is a seasonally adjusted measure of the number of people who file for unemployment benefits for the first time during the given week. This data is collected by the Department of Labor, and published as a weekly report.
Initial Jobless Claims
Time:1:30pm
Actual -
Forecast 400.00K
Previous 395.00K
The Continuing Jobless Claims measures the amount of people filing for unemployment benefits after the initial filing. It is usually release one week after the Initial Jobless Claims.
Continuing Jobless Claims
Time:1:30pm
Actual -
Forecast 3700.00K
Previous 3690.00K
The Consumer Price Index (CPI) measures the changes in the price of goods and services.
The CPI measures price change from the perspective of the consumer.
It is a key way to measure changes in purchasing trends and inflation in the US. A higher than expected reading should be taken as positive/bullish for the USD (as the common way to fight inflation is raising rates, which may attract foreign investment), while a lower than expected reading should be taken as negative/bearish for the USD.
CPI
Time 3.00pm GMT
Actual -
Forecast 0.20%
Previous -0.20%
The Existing Home Sales measures the annualized number of existing residential buildings that were sold during the previous month.
This report helps to analyze the strength of the US housing market, which helps to analysis the economy as a whole.
Existing Home Sales
Actual -
Forecast 4.90M
Previous 4.77M
Technical’s: Eur Hold support at 1.4374 Resistance @ 1.4514
Breach of the Poseidon line
Strategies
Sell on high 15min Stochastic 1.4393 or 1.4310 or a nice rally to sell
Success %: 88%
Concerns: News rally that takes out 1.4411
Date:
News:
Strategies Update
Synchronize:
Success%:
Short-term Expectation:
Trade:
Concerns
Date :18/08/2011
Time:13.30pm
News: USD
The Initial Jobless Claims is a seasonally adjusted measure of the number of people who file for unemployment benefits for the first time during the given week. This data is collected by the Department of Labor, and published as a weekly report.
Initial Jobless Claims
Time:1:30pm
Actual -
Forecast 400.00K
Previous 395.00K
The Continuing Jobless Claims measures the amount of people filing for unemployment benefits after the initial filing. It is usually release one week after the Initial Jobless Claims.
Continuing Jobless Claims
Time:1:30pm
Actual -
Forecast 3700.00K
Previous 3690.00K
The Consumer Price Index (CPI) measures the changes in the price of goods and services.
The CPI measures price change from the perspective of the consumer.
It is a key way to measure changes in purchasing trends and inflation in the US. A higher than expected reading should be taken as positive/bullish for the USD (as the common way to fight inflation is raising rates, which may attract foreign investment), while a lower than expected reading should be taken as negative/bearish for the USD.
CPI
Time 3.00pm GMT
Actual -
Forecast 0.20%
Previous -0.20%
The Existing Home Sales measures the annualized number of existing residential buildings that were sold during the previous month.
This report helps to analyze the strength of the US housing market, which helps to analysis the economy as a whole.
Existing Home Sales
Actual -
Forecast 4.90M
Previous 4.77M
Technical’s: Bearish Gartley evening Star
Strategies
Sell Rallies @ 1.0470 or 1.0491
Success%: 64%
Date:
News:
Strategies Update
------------------------------------------------
Pair:USDCAD
Date :18/08/2011
Time:13.30pm
News: The Leading Indicators Index measures the percentage change in the index from previous month.
Leading Indicators
Actual -
Forecast 0.50%
Previous 0.20%
The Wholesale Sales measures the change in the worth of sales by wholesalers.
It's a leading indicator of consumer spending.
Wholesale Sales
Actual -
Forecast 1.50%
Previous 1.90%
Technical’s:
USDCAD is within a Triangle Flag Pattern awaiting A break out
According to our 4hr anchor Strategy we are presently Bullish on this pair above 0.9818
Strategies
Wait for a breakout then a retracement to enter with good news to support Movement
Success%: 88%
Date:
News:
Strategies Update
Synchronize:
Success%:
Short-term Expectation:
Trade:
Concerns
-------------------------------------------------
USDCHF
Technical’s: Bullish Gartley Daily Morning Star
Strategies:
Buy dips 0.7942 or 0.7929 zone
Success%: 84%
Date:
News:
Strategies Update
Tuesday 16 August 2011
Saturday 13 August 2011
know your enemies and know yourself
If you know your enemies and know yourself, you will win a hundred times
in a hundred battles.
If you only know yourself, but not your opponent, you will win one and lose the next.
If you do not know yourself or know your enemy you will always lose.
Sun tzu 512BC
The Magical Number 8
The magical number 8
This article is about the Magical number 8 why I’m so fascinated by this number that never ends. I use the number 8 as my fast line moving average on my charts How to use it just email me and I’ll tell you!!
Evolution of the glyph
Ref: http://en.wikipedia.org/wiki/File:Evo8glyph.svg
The Europeans rounding the glyph that led to our modern eight.
The Cycles teaches us of the wholeness of life the lower cycle represents the lower world of thought like materialism and physical pleasure the upper cycle represents the higher realm of thought like spiritualism and the metaphysical. My mental vision is to have thoughts that flow from man lower to God higher and try to interpret the lesson from God higher to man lower. The number 8 denotes the law of cyclical evolution, the breaking back of the natural to the spiritual, the infinite merging from the higher to the lower realms heaven and earth, the Reaction, revolution, Inspiration following respiration, of the lungs, genius and eccentricity,
I find the number eight to be so sexy and has so many meaning in physics, science, Math and Culture. They say the number 8 represents wisdom, and learning through experience, stability, patience and responsibility. The number 8 is also a number of financial security, caution, restriction, self-discipline, and self-control.
And may I remind traders that number 8 is a Fibonacci number, being 3 plus 5. The next Fibonacci number is 8 is the only positive Fibonacci number, aside from 1, that is a perfect cube. The number 8 is involved with a number of other interesting mathematical phenomena related to the notion of Bott periodicity. For example if is the direct limit of the inclusions of real orthogonal groups then .
Ref: http://www.answers.com/topic/bott-periodicity-theorem
Way over my head………….~~@##~*”#£*%+_)*(&%^%***%$£”~@:~
The number 8 plays it role in nuclear physics and also the eightfold way to classify sub-atomic particles, in other words the number 8 is directly responsible for the building blocks of life its self. Still i’m in enthralled to find out that the number 8 also stands for oxygen and also the number 8 has been important in many cultures throughout history, but particularly in Asia. The Chinese believe it to be lucky because it sounds similar to their word for ‘wealth’ or ‘prosper’, Chinese businessmen are known to request hotel rooms with 8 in the room number. There are 8 immortal deities celebrated by Taoists and these frequently appear in Chinese art and popular culture. In ancient Japan the number 8 was regarded as holy, and Buddhists follow the Eightfold path to enlightenment believing this to be the way to achieve self-awakening.
Most interesting for us traders we are constantly learning and looking for a reason, and explanation or confirmation that the market is gonna sway one way or another in the cyber jungle of charts. Still Instinctual we know that over time words and symbols carry power and the magical number eight is that number, the number that symbolises destiny. It suggests that the direction of growth in your lifetime will be a move up the ladder of attainment in the material world, to achieve financial security, and status amongst your peers. The positive number eight points to the word destiny and guides the individual that realises it powers to plan, to complete what you started; and move towards becoming dependable and determined, ambitious and goal-oriented.
I must admit when I first think of the elegant and enchanting number eight my first thought is that this number never ends, as it swerves in and out like a belly dancers, so enticing and hypnotising you can get lost in its eternity. Then at the same time it is so calm and fluid as it moves across the waves of your chart right next to the King acting as its personal adviser. I often wonder what would happen if I was to push the number 8 on its side will it give me infinite balance? Yes it will.
In trading the number 8 tells me there is a change in direction it puts its arm around me and shows me support, or covers me in resistance and finally gives me confirmation. This number leads me to opportunity through repetition and experience as long as I can perceive and respect it correctly. From the beginning to the end it will enable one to transcend and evolve like a child with no structure, the seeking balance in structure. They say if you can harness the number 8 you can expect to receive the financial and material rewards once you can understand its powers with good judgment and risk reward management then you will understand how to build and accumulate material wealth. Much of your success must come due to your ability to judge the character of a particular pair as every animal is different in the financial world. With the number 8 calling on destiny along the yellow brick road, you will be well on you’re way in your affairs; Still be realistic and practical in your approach to business matters. While the magical number 8 symbol deals helps you deal with balance, time, and more interestingly, the recycling path of energy.
by Kasim Ijelu
This article is about the Magical number 8 why I’m so fascinated by this number that never ends. I use the number 8 as my fast line moving average on my charts How to use it just email me and I’ll tell you!!
Evolution of the glyph
Ref: http://en.wikipedia.org/wiki/File:Evo8glyph.svg
The Europeans rounding the glyph that led to our modern eight.
The Cycles teaches us of the wholeness of life the lower cycle represents the lower world of thought like materialism and physical pleasure the upper cycle represents the higher realm of thought like spiritualism and the metaphysical. My mental vision is to have thoughts that flow from man lower to God higher and try to interpret the lesson from God higher to man lower. The number 8 denotes the law of cyclical evolution, the breaking back of the natural to the spiritual, the infinite merging from the higher to the lower realms heaven and earth, the Reaction, revolution, Inspiration following respiration, of the lungs, genius and eccentricity,
I find the number eight to be so sexy and has so many meaning in physics, science, Math and Culture. They say the number 8 represents wisdom, and learning through experience, stability, patience and responsibility. The number 8 is also a number of financial security, caution, restriction, self-discipline, and self-control.
And may I remind traders that number 8 is a Fibonacci number, being 3 plus 5. The next Fibonacci number is 8 is the only positive Fibonacci number, aside from 1, that is a perfect cube. The number 8 is involved with a number of other interesting mathematical phenomena related to the notion of Bott periodicity. For example if is the direct limit of the inclusions of real orthogonal groups then .
Ref: http://www.answers.com/topic/bott-periodicity-theorem
Way over my head………….~~@##~*”#£*%+_)*(&%^%***%$£”~@:~
The number 8 plays it role in nuclear physics and also the eightfold way to classify sub-atomic particles, in other words the number 8 is directly responsible for the building blocks of life its self. Still i’m in enthralled to find out that the number 8 also stands for oxygen and also the number 8 has been important in many cultures throughout history, but particularly in Asia. The Chinese believe it to be lucky because it sounds similar to their word for ‘wealth’ or ‘prosper’, Chinese businessmen are known to request hotel rooms with 8 in the room number. There are 8 immortal deities celebrated by Taoists and these frequently appear in Chinese art and popular culture. In ancient Japan the number 8 was regarded as holy, and Buddhists follow the Eightfold path to enlightenment believing this to be the way to achieve self-awakening.
Most interesting for us traders we are constantly learning and looking for a reason, and explanation or confirmation that the market is gonna sway one way or another in the cyber jungle of charts. Still Instinctual we know that over time words and symbols carry power and the magical number eight is that number, the number that symbolises destiny. It suggests that the direction of growth in your lifetime will be a move up the ladder of attainment in the material world, to achieve financial security, and status amongst your peers. The positive number eight points to the word destiny and guides the individual that realises it powers to plan, to complete what you started; and move towards becoming dependable and determined, ambitious and goal-oriented.
I must admit when I first think of the elegant and enchanting number eight my first thought is that this number never ends, as it swerves in and out like a belly dancers, so enticing and hypnotising you can get lost in its eternity. Then at the same time it is so calm and fluid as it moves across the waves of your chart right next to the King acting as its personal adviser. I often wonder what would happen if I was to push the number 8 on its side will it give me infinite balance? Yes it will.
In trading the number 8 tells me there is a change in direction it puts its arm around me and shows me support, or covers me in resistance and finally gives me confirmation. This number leads me to opportunity through repetition and experience as long as I can perceive and respect it correctly. From the beginning to the end it will enable one to transcend and evolve like a child with no structure, the seeking balance in structure. They say if you can harness the number 8 you can expect to receive the financial and material rewards once you can understand its powers with good judgment and risk reward management then you will understand how to build and accumulate material wealth. Much of your success must come due to your ability to judge the character of a particular pair as every animal is different in the financial world. With the number 8 calling on destiny along the yellow brick road, you will be well on you’re way in your affairs; Still be realistic and practical in your approach to business matters. While the magical number 8 symbol deals helps you deal with balance, time, and more interestingly, the recycling path of energy.
by Kasim Ijelu
Friday 12 August 2011
Thursday 11 August 2011
GBPUSD HRLY BULLISH Butterfly
Pair: GBPUSD
Date : 11/08/2011
Technical’s: Bullish Butterfly
Strategies: Buy on a Support 1.6174
News:
The Pound declined against the Euro and the U.S Dollar this morning, while the UK currency also fell to yet another record low versus the Swiss Franc.
"The Bank of England’s quarterly inflation report showed that the economic outlook is worsening in the UK and the governor Mervyn King gave an indication that policy makers can expand monetary stimulus at any time if growth deteriorates further," says Adam Solomon, an exchange rate analyst at UK money transfer company Tor Fx.
It is beginning to looking increasingly likely that the economy will slip into negative growth in the third quarter and that may prompt the BoE to begin bond-purchasing again through a means of quantitative easing.
A level of stability has returned to the market following a volatile few days, as global risk appetite improved following the rise in global equity markets.
The higher-yielding currencies subsequently gained ground versus the majors but the Swiss Franc continues to rally, despite attempts from the Swiss Central Bank to weaken the currency.
It may have potential
Be smart
Pair: GBPUSD
Date : 12/08/2011
Technical’s: Bullish Butterfly
Strategies: Buy on a Support 1.6174
Trade: Entry 1.6185 stop 1.6130
Short-term Expectation: 1.6238
News:
U.K. stocks climbed the most since May 2010, with the benchmark FTSE 100 Index rebounding from a 13-month low, as mining companies advanced. BHP Billiton Ltd., the world’s largest mining company,climbed 5.4 percent. Aquarius Platinum Ltd. gained 8.6 percent after earnings beat analysts’ estimates. Hays Plc, the U.K.’s biggest recruitment company, rose 3.9 percent as UBS AG advised buying the shares.The FTSE 100 gained 3.1 percent to 5,162.83 at the 4:30 p.m. close in London, having earlier fallen as much as 1.3 percent. The FTSE All-Share Index advanced 3 percent, while Ireland’s ISEQ Index climbed 1.7 percent.The FTSE 100 had declined 16 percent from the beginning of July through yesterday, wiping more than $566 billion from the value of U.K. shares, on speculation that Europe will fail to contain its sovereign-debt crisis and that the U.S. economic recovery is faltering. The slump has pushed down the gauge’s price-to-earnings ratio to 9.1 times the estimated earnings of its constituent companies, below the average multiple of 11.5 over the last five years, according to data compiled by Bloomberg. "I’ve been putting money to work, gently," said Piers Hillier, chief investment officer at Liverpool Victoria Asset Management Ltd., which manages 8 billion pounds ($13 billion) "Incrementally adding here is a sensible thing," he said in a Bloomberg Television interview. He is "overweight" in developed-market equities.
Newws by forexpros
U.K. stocks climbed the most since May 2010, with the benchmark FTSE 100 Index rebounding from a 13-month low, as mining companies advanced. BHP Billiton Ltd., the world’s largest mining company,climbed 5.4 percent. Aquarius Platinum Ltd. gained 8.6 percent after earnings beat analysts’ estimates. Hays Plc, the U.K.’s biggest recruitment company, rose 3.9 percent as UBS AG advised buying the shares.The FTSE 100 gained 3.1 percent to 5,162.83 at the 4:30 p.m. close in London, having earlier fallen as much as 1.3 percent. The FTSE All-Share Index advanced 3 percent, while Ireland’s ISEQ Index climbed 1.7 percent.The FTSE 100 had declined 16 percent from the beginning of July through yesterday, wiping more than $566 billion from the value of U.K. shares, on speculation that Europe will fail to contain its sovereign-debt crisis and that the U.S. economic recovery is faltering. The slump has pushed down the gauge’s price-to-earnings ratio to 9.1 times the estimated earnings of its constituent companies, below the average multiple of 11.5 over the last five years, according to data compiled by Bloomberg. "I’ve been putting money to work, gently," said Piers Hillier, chief investment officer at Liverpool Victoria Asset Management Ltd., which manages 8 billion pounds ($13 billion) "Incrementally adding here is a sensible thing," he said in a Bloomberg Television interview. He is "overweight" in developed-market equities.
Newws by forexpros
Conclusions:
Worked out nicely
Concerns:
It fails Bad news whip sawed out!!
Wednesday 10 August 2011
EurUsd 4hr Chart 10/08/2011
Pair: Eur USD
Date : 10/08/2011
News: Possiable French Down Grade
Technical’s:
Many different scenarios from the 1hr double top formed this morning Mr Price is now back within Daily triangle after falling through a number of Significant Moving averages on the 4hr hours a bit of a See Saw, hitting the base of the daily Poseidon line near minor support 1.4148
A break of the daily Poseidon line and uptrend then expect more down side. However if
Mr price holds and rallies above 1.4293 then a large abc=D rally is under way. If MR Price keeps its higher lows this would be a aggressive entry. However you can Waite for a break of 1.4299 before entering long. As always management risk
Success %:79%
11/08/2011
Eurusd updated sold @ 1.4291 stops break even
GBPUSD 10/08/2011 updated 11/08/2011
Date : 10/08/2011
News:
By Barbara Zigah (eToro Blog) The Bank of England’s MPC earlier unveiled its quarterly inflation report, with the backdrop of a struggling economy, little prospects for growth, and an exceptionally dissatisfied constituency, with proof seen of that in recent violence on the streets of London, blamed in part on the economic hardships faced by U.K. [...]
http://www.etoro.net/forex-news/european-focus/gbp-european-focus-forex-news/bank-of-england-sees-near-term-rise-in-inflation-to-5-31671.html
Technical’s:
Mr price has fallen through the Poseidon Line and bounced back from the support area @ 1.6180 very near the 200DMA in an attempt to hold the daily pivot @ 1.6244. Possible Elwave scenario 3rd of a 3rd wave down. with a close below 1.6244
Strategies:
Technical’s:
Mr price has fallen through the Poseidon Line and bounced back from the support area @ 1.6180 very near the 200DMA in an attempt to hold the daily pivot @ 1.6244. Possible Elwave scenario 3rd of a 3rd wave down. with a close below 1.6244
Strategies:
According to our 4hr Anchor Strategy we are on the sell side with confirmed cross of relative moving averages 8DMA but not yet the 21DMA (so possiable rally
with an aim to sell rallies @ resistance or high over brough 1hrly stochastics . Closes below 1.6244 sell with stops @ 1.6340 Targets: 1.6163 break of the 200DMA expect further down side
Success %: 79%
Tuesday 9 August 2011
Timeless Trading: Problem Reaction Solution
Timeless Trading: Problem Reaction Solution: "First i would like to acknowledge that yesterdays was a tragedy to be-fall London and wider areas, and my thoughts go out to all those famil..."
Problem Reaction Solution
First i would like to acknowledge that yesterdays was a tragedy to be-fall London and wider areas, and my thoughts go out to all those families and business, homes, property that were effected in the senseless act of destruction.
What I’m concerned about is what the police want. I think they fell anger and resentfulness by being thrown to the wolves by the Politian’s in rent weeks, for the phone scandals and the plan by the govt in reducing police numbers and overtime, also the old strategy used by the govt/police and institutions of...
Problem, Reaction, solution
They will create a problem, watch for the reaction of the people, and come in like the knights in shining armour to save the day.. History repeating itself.
Cause and effect used by the Govt/police. Etc do they want more over time pay for police I heard 16000 thousand police officers would be deployed to the streets of London Which is the right thing to get some sort of order , is there disorder from the top and a change of rolls as the acting commionser Tim Gordwin calls for more police.
However, there is a bigger issues.Once control has been brought the question of the root cause will need to be addressed.
Still, I remember in the days not so long community leaders church, community leaders,, youth leaders, fathers mothers would meet up at centres and rallyed for their communities to stay together.
Should the army be brought In? In my opinion no, this is to extreme and this would under mind the police force and we do not need this.
Funny how all the leaders were away all at the same time???????. Could this be a rouse for the police to be armed? This would be a tragedy for the police and for Britain.
Bring back the youth clubs, preventative crime networks, YOT teams; bring back hope, faith, pride and morality.
in summary instantaneous gratification seems to be the order of the day. Its either young people feel like they have no power or the feel they have to much power with no control or reasonability
Timeless thoughts
What I’m concerned about is what the police want. I think they fell anger and resentfulness by being thrown to the wolves by the Politian’s in rent weeks, for the phone scandals and the plan by the govt in reducing police numbers and overtime, also the old strategy used by the govt/police and institutions of...
Problem, Reaction, solution
They will create a problem, watch for the reaction of the people, and come in like the knights in shining armour to save the day.. History repeating itself.
Cause and effect used by the Govt/police. Etc do they want more over time pay for police I heard 16000 thousand police officers would be deployed to the streets of London Which is the right thing to get some sort of order , is there disorder from the top and a change of rolls as the acting commionser Tim Gordwin calls for more police.
However, there is a bigger issues.Once control has been brought the question of the root cause will need to be addressed.
Still, I remember in the days not so long community leaders church, community leaders,, youth leaders, fathers mothers would meet up at centres and rallyed for their communities to stay together.
Should the army be brought In? In my opinion no, this is to extreme and this would under mind the police force and we do not need this.
Funny how all the leaders were away all at the same time???????. Could this be a rouse for the police to be armed? This would be a tragedy for the police and for Britain.
Bring back the youth clubs, preventative crime networks, YOT teams; bring back hope, faith, pride and morality.
in summary instantaneous gratification seems to be the order of the day. Its either young people feel like they have no power or the feel they have to much power with no control or reasonability
Timeless thoughts
Sunday 7 August 2011
Patients is a virtue a virtue to be Aquired
Patients is a virtue a virtue to be Acquired.
When it is hard, when you do not want to, when you are frustrated, when you have doubts, Where do you find the strength to follow you’re plan, where do you find the courage to trust you’re methods. Even when you want to just give up and give in to the temptation of the ‘gamble’ take the trip to the dark side of trading and become the man in the mirror, called inpatients, this man/woman acts on a whim acts on emotions without waiting for all the information.
I honestly believe that it takes time, and through time and persistence you gain experience and learn that risk reward is critical to all business, This is equal to knowing that if you fail to plan you plan for pain or to Fail. I ask myself some times that are we really some how secretly addicted to that pain are we somehow psychologically wired to harm ourselves, Wire in the Blood…..
Doing 'nothing' or 'waiting for the correct moment' in trading can be the most difficult thing to do. Those that do it well...have a great trading career with a greater sense of Peace and worthy earned quality.
On the other hand can it be true that Patience is an illusion?... Still waters run deep, and patient people break things when no one is looking.Still the saying goes that Virtue is something one envy’s in another and over looks in themselves. Bruce Filmore Dunn
For example its written in big bold black letter smoking kills but still despite the warnings, the advice, the knowing we still have that uncontrollable erge that crawling temptation to fall short and stay average when we know deep down that we are designed for greatness.
You should know what patience means and virtue means "moral excellence; goodness; righteousness." meaning patience is a virtuous personality trait. A trait that should be sort out and possessed at all cost if you wish to survive gracefully in the trading game.
A virtue is a trait or quality deemed to be morally excellent and thus is valued as a foundation of principle and good moral being. Patience can make us better people, better traders, seeing the trade from a high perceptive. I once read some where that a trading career is not a 100 meter race but a marathon. Patience is to tolerate delay implying self control and forbearance. When we say "patience is a virtue" we are exposing our moral values and expressing the importance of patience as a foundation of principle. It is a fight for peace and silence of the mind body and soul in the moment that destiny created. I believe that when a trader feels the erge, he should close he’s eyes and take 10 deep breaths and remember the joy and satisfaction of when he practiced patients. Paid attention to the King price and took orders from the two headed emperor called risk and reward.
"Nothing gives one person so much advantage over another as to remain always cool and unruffled under all circumstances." Thomas Jefferson
When men or women lack understanding of the order of God, it is impossible for them to except nor understand God's way.
Luke 21.19 says In your patience possess ye your souls.
In summary I believe one should be patient but don’t wait to long cause you might just miss the boat. Reaching from out of the abyss to efficacious, the ability of an intervention to produce the desired beneficial effect in expert hands and under ideal circumstances reaching once again for the goodness, a beneficial quality and rewards of acting with out doubt but being patient in a faith in a plan with the virtue of being practical.
When it is hard, when you do not want to, when you are frustrated, when you have doubts, Where do you find the strength to follow you’re plan, where do you find the courage to trust you’re methods. Even when you want to just give up and give in to the temptation of the ‘gamble’ take the trip to the dark side of trading and become the man in the mirror, called inpatients, this man/woman acts on a whim acts on emotions without waiting for all the information.
I honestly believe that it takes time, and through time and persistence you gain experience and learn that risk reward is critical to all business, This is equal to knowing that if you fail to plan you plan for pain or to Fail. I ask myself some times that are we really some how secretly addicted to that pain are we somehow psychologically wired to harm ourselves, Wire in the Blood…..
Doing 'nothing' or 'waiting for the correct moment' in trading can be the most difficult thing to do. Those that do it well...have a great trading career with a greater sense of Peace and worthy earned quality.
On the other hand can it be true that Patience is an illusion?... Still waters run deep, and patient people break things when no one is looking.Still the saying goes that Virtue is something one envy’s in another and over looks in themselves. Bruce Filmore Dunn
For example its written in big bold black letter smoking kills but still despite the warnings, the advice, the knowing we still have that uncontrollable erge that crawling temptation to fall short and stay average when we know deep down that we are designed for greatness.
You should know what patience means and virtue means "moral excellence; goodness; righteousness." meaning patience is a virtuous personality trait. A trait that should be sort out and possessed at all cost if you wish to survive gracefully in the trading game.
A virtue is a trait or quality deemed to be morally excellent and thus is valued as a foundation of principle and good moral being. Patience can make us better people, better traders, seeing the trade from a high perceptive. I once read some where that a trading career is not a 100 meter race but a marathon. Patience is to tolerate delay implying self control and forbearance. When we say "patience is a virtue" we are exposing our moral values and expressing the importance of patience as a foundation of principle. It is a fight for peace and silence of the mind body and soul in the moment that destiny created. I believe that when a trader feels the erge, he should close he’s eyes and take 10 deep breaths and remember the joy and satisfaction of when he practiced patients. Paid attention to the King price and took orders from the two headed emperor called risk and reward.
"Nothing gives one person so much advantage over another as to remain always cool and unruffled under all circumstances." Thomas Jefferson
When men or women lack understanding of the order of God, it is impossible for them to except nor understand God's way.
Luke 21.19 says In your patience possess ye your souls.
In summary I believe one should be patient but don’t wait to long cause you might just miss the boat. Reaching from out of the abyss to efficacious, the ability of an intervention to produce the desired beneficial effect in expert hands and under ideal circumstances reaching once again for the goodness, a beneficial quality and rewards of acting with out doubt but being patient in a faith in a plan with the virtue of being practical.
Thursday 4 August 2011
Trading is all about making profits over time , not about trading ego
Most traders spend countless hours looking for that magical combination of indicators that will reveal the “holy grail” of trading strategies. Obviously, the goal is to find a winning strategy, but more oftentimes than not "winning" is misconstrued into trying to find a strategy that wins a high percentage of trades. After all, winning a trade means making money, and losing a trade means losing money, right? Don't be so sure about that.
Like many of the seemingly obvious components that go into creating a great trading plan and becoming a great trader, what we think seems logical in reality is what is holding us back.
For those of you whom have been following us here on FX360 this may not be the first time you've read something similar to this, and it won't be the last. Along with other ways to think in terms of probabilities, the following is an example of something I deeply believe needs to be not just simply understood, but ingrained into the subconscious of our trading psyche (if through nothing more than repetition) in order to ultimately eliminate emotions for every single trade we place. This may perhaps be the most difficult aspect of becoming a true professional trader, but a trait that one simply must have to stand any chance of survival—both financially, and psychologically.
Being a profitable trader is not just about winning percentages. In other words, you can earn positive returns without winning most, or even a majority, of your trades! It’s all about risk vs. reward. If your strategy allows you to identify trading opportunities that offer more reward than risk, then even a 50% winning ratio could yield a significantly positive return over time.
For example, let’s assume a $10,000 trading account where 10 trades are placed, and $100 (1%) is put at risk for each trade…
If risk-to-reward is 1-to-1, then a 50% win ratio will result in a “break-even” return…
[10 trades placed] x [50% losers] = [5 losses] x [$100] = [$500 loss]
[10 trades placed] x [50% winners] = [5 wins] x [$100] = [$500 profit]
[$500 profit] – [$500 loss] = [$0]
If risk-to-reward is 1-to-1.5, then the same 50% win ratio will result in a positive return…
[10 trades placed] x [50% losers] = [5 losses] x [$100] = [$500 loss]
[10 trades placed] x [50% winners] = [5 wins] x [$150] = [$750 profit]
[$750 profit) – [$500 loss] = [$250 profit]
In terms of percentage return, this second (profitable) example would result in a 2.5% return based on the starting account balance (total equity) of $10,000 after just 10 trades. This, of course, is the case when just 1% of total equity is put at risk. If 3% ($300) is put at risk (a rather high amount to most veteran traders), then this same example (same track record) would yield a 7.5% return. . In other words, greater profits are achieved based on the exact same performance…
[10 trades placed] x [50% losers] = [5 losses x $300] = [$1,500 loss]
[10 trades placed] x [50% winners] = [5 wins x $450] = [$2,250 profit]
[$2,250 profit] - [$1,500 loss] = [$750 profit]
Conversely, a high winning percentage (which typically necessitates a bigger margin for error, or greater risk) may actually result in smaller, less profitable returns over time. This occurs when the average risk is higher than the average reward. For example, using the same hypothetical $10,000 account that’s risking 3% ($300) let’s assume an 80% win ratio with an average risk-to-reward ratio of 2-to-1…
[10 trades placed] x [20% losers] = [2 losses x $300] = [$600 loss]
[10 trades placed] x [80% winners] = [8 wins x $150] = [$1,200 profit]
[$1,200 profit) – [$600 loss] = [$600 profit]
So the trader that boasts an 80% win ratio may actually be less profitable than the trader with a seemingly unimpressive 50% win ratio. So the question is…do you want to be right, or do you want to make money? Believe it or not, even negative returns are possible with a higher winning percentage when risk far outweighs reward, so make sure to factor this in when performing due diligence in assessing a strategy and/or track records results.
“10 Dimes Make a Dollar”
Hopefully, this demonstrates the importance of assessing risk/reward in addition to winning percentage when trying to determine the actual success, or profitability, of a trading strategy/track record. Remember, trading success not just about winning and losing individual trades—it’s about sustaining profitability over time (making money and holding onto those profits in the long run). The most common mistake newer traders make is in determining the success of a trading strategy (i.e. track record) based on winning percentage alone, which can be quite misleading when risk/reward is not taken into account. Most newer traders (unknowingly in most cases) are willing to risk far more than they are looking to gain (reward) just to be “right,” or win, each trade.
Another good piece of advice is to always keep in mind that trading is all about making profits over time , not about trading ego (which is usually the result of focusing just on winning percentages). In other words, significant returns can be achieved when you allow yourself to look at the big picture. As the saying goes, “10 dimes make a dollar.” The key is to be able to determine both entries and exits in advance so that risk vs. reward can be determined. This will significantly help to keep the decision making process as consistent and mechanical as possible, which is essential regardless of the technical/fundamental strategy that is used as it helps to eliminate emotions when making trading decisions. Only then can a truly objective decision be made as to whether or not to take the trade since this decision will be based on established/actual results, and not a “gut” feeling or reaction. Understanding the mathematical “law of averages” and “law of large numbers” reinforce this mechanical approach to trading which, again, is crucial to trading success because mixing emotions with money-based decisions is usually a recipe for disaster!
by FX360
Like many of the seemingly obvious components that go into creating a great trading plan and becoming a great trader, what we think seems logical in reality is what is holding us back.
For those of you whom have been following us here on FX360 this may not be the first time you've read something similar to this, and it won't be the last. Along with other ways to think in terms of probabilities, the following is an example of something I deeply believe needs to be not just simply understood, but ingrained into the subconscious of our trading psyche (if through nothing more than repetition) in order to ultimately eliminate emotions for every single trade we place. This may perhaps be the most difficult aspect of becoming a true professional trader, but a trait that one simply must have to stand any chance of survival—both financially, and psychologically.
Being a profitable trader is not just about winning percentages. In other words, you can earn positive returns without winning most, or even a majority, of your trades! It’s all about risk vs. reward. If your strategy allows you to identify trading opportunities that offer more reward than risk, then even a 50% winning ratio could yield a significantly positive return over time.
For example, let’s assume a $10,000 trading account where 10 trades are placed, and $100 (1%) is put at risk for each trade…
If risk-to-reward is 1-to-1, then a 50% win ratio will result in a “break-even” return…
[10 trades placed] x [50% losers] = [5 losses] x [$100] = [$500 loss]
[10 trades placed] x [50% winners] = [5 wins] x [$100] = [$500 profit]
[$500 profit] – [$500 loss] = [$0]
If risk-to-reward is 1-to-1.5, then the same 50% win ratio will result in a positive return…
[10 trades placed] x [50% losers] = [5 losses] x [$100] = [$500 loss]
[10 trades placed] x [50% winners] = [5 wins] x [$150] = [$750 profit]
[$750 profit) – [$500 loss] = [$250 profit]
In terms of percentage return, this second (profitable) example would result in a 2.5% return based on the starting account balance (total equity) of $10,000 after just 10 trades. This, of course, is the case when just 1% of total equity is put at risk. If 3% ($300) is put at risk (a rather high amount to most veteran traders), then this same example (same track record) would yield a 7.5% return. . In other words, greater profits are achieved based on the exact same performance…
[10 trades placed] x [50% losers] = [5 losses x $300] = [$1,500 loss]
[10 trades placed] x [50% winners] = [5 wins x $450] = [$2,250 profit]
[$2,250 profit] - [$1,500 loss] = [$750 profit]
Conversely, a high winning percentage (which typically necessitates a bigger margin for error, or greater risk) may actually result in smaller, less profitable returns over time. This occurs when the average risk is higher than the average reward. For example, using the same hypothetical $10,000 account that’s risking 3% ($300) let’s assume an 80% win ratio with an average risk-to-reward ratio of 2-to-1…
[10 trades placed] x [20% losers] = [2 losses x $300] = [$600 loss]
[10 trades placed] x [80% winners] = [8 wins x $150] = [$1,200 profit]
[$1,200 profit) – [$600 loss] = [$600 profit]
So the trader that boasts an 80% win ratio may actually be less profitable than the trader with a seemingly unimpressive 50% win ratio. So the question is…do you want to be right, or do you want to make money? Believe it or not, even negative returns are possible with a higher winning percentage when risk far outweighs reward, so make sure to factor this in when performing due diligence in assessing a strategy and/or track records results.
“10 Dimes Make a Dollar”
Hopefully, this demonstrates the importance of assessing risk/reward in addition to winning percentage when trying to determine the actual success, or profitability, of a trading strategy/track record. Remember, trading success not just about winning and losing individual trades—it’s about sustaining profitability over time (making money and holding onto those profits in the long run). The most common mistake newer traders make is in determining the success of a trading strategy (i.e. track record) based on winning percentage alone, which can be quite misleading when risk/reward is not taken into account. Most newer traders (unknowingly in most cases) are willing to risk far more than they are looking to gain (reward) just to be “right,” or win, each trade.
Another good piece of advice is to always keep in mind that trading is all about making profits over time , not about trading ego (which is usually the result of focusing just on winning percentages). In other words, significant returns can be achieved when you allow yourself to look at the big picture. As the saying goes, “10 dimes make a dollar.” The key is to be able to determine both entries and exits in advance so that risk vs. reward can be determined. This will significantly help to keep the decision making process as consistent and mechanical as possible, which is essential regardless of the technical/fundamental strategy that is used as it helps to eliminate emotions when making trading decisions. Only then can a truly objective decision be made as to whether or not to take the trade since this decision will be based on established/actual results, and not a “gut” feeling or reaction. Understanding the mathematical “law of averages” and “law of large numbers” reinforce this mechanical approach to trading which, again, is crucial to trading success because mixing emotions with money-based decisions is usually a recipe for disaster!
by FX360
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