Trading for a living! - page 7
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How can a system thats proves to be a reliable system be obsolete?
Ok..the 15 min method is reasonable new, however the orginial method which involves 15min,30min,1hr and 4hr TF's has been used for quite some time.
The point of these methods is to find one and over time learn how to use in relation to the market....If you look at a method for a week or so and then write it off as obsolete ( no longer of any use) then you will be for ever looking...
there are many people in that thread learning how to use his method and making money with it, there is also a guy taking time to show how to use chart's, fibonacci levels etc.
All very use full information for the newbie.
And as for small profit from it.....I would sujest you read the thread and you will find many people making 100 plus pips.....
Manybe thats small to you.??
Glenn
Auslanco 15 min strategy is a little bit obsolete already. However we still can use it to make small profit
Today with Auslanco's 15 min strategy :
GBP/USD 69 pips (1 trade)
GBP/JPY 91 pips (1 trade)
Is that a small profit for you? LOL
Today with Auslanco's 15 min strategy :GBP/USD 69 pips (1 trade)GBP/JPY 91 pips (1 trade)Is that a small profit for you? LOL
Its obvious Jackchu dont know what he is talking about...
Sticking & Tweaking
If you have been following our results for Hans for the past eight months, you would have been astonished. Even if not, you could check Hans123 results and see for yourself. The system, has been in drawdown since 7 month. Once again, the system showed how powerful it is. One good month erased all losses. I have been sticking to the system from the beginning. Even when it went into drawdown, I never tried to tweak it, because tweaking the system will only result in more losses.
However, bear in mind, you should only stick to a system, only and only if the system is a good and reliable system. Never stick to a bad system. Thus the first step it to identify a good system. Next step: Trust it.
IT's pretty short...
I've been live and dedicated myself since January of this year(2007) -
the BIGGEST lesson I've learned is that MONEY MANAGEMENT AND RISK MANAGEMENT ARE ABSOLUTES IN THIS MARKET - NO CHOICE - NO SHORTCUTS - YOU HAVE TO BE EXCELLENT AT THESE THINGS BEFORE YOU CLICK FOR THE FIRST TRADE
Next,
Yeh, you can start with 25K - but, if you start with 2500 and are willing to discipline yourself and truly be a student of this market -you'll go a LOT further..
Yeh, you're gonna have to work your butt off - you're gonna lose sleep - you're gonna be doin' things nobody else is wililng to do...and you're gonna look at the $ signs and think "Man, this is a LOT of work for this amount of $$'s" - and that's a lazy persons excuse to give up.
BUT, at the end, you're gonna have more than others too because you got off yer butt and did things they weren't willing to do...
Sorry if I'm a little hard soundin' - I'm coming off of a record month of about 30% ROI and see NO reason why I can't keep doing it over and over - only thing stopping me is myself and nothing else.
You can trade forex or get a job digging ditches - and I don't care which one you do - but, both of them have something that's common regardless of what you decide to do
I call it a "pass through the fire" period where you're gonna have to do things you don't want to do if you want to be successful at whatever it is..
IT's pretty short... I've been live and dedicated myself since January of this year(2007) - the BIGGEST lesson I've learned is that MONEY MANAGEMENT AND RISK MANAGEMENT ARE ABSOLUTES IN THIS MARKET - NO CHOICE - NO SHORTCUTS - YOU HAVE TO BE EXCELLENT AT THESE THINGS BEFORE YOU CLICK FOR THE FIRST TRADE Next, Yeh, you can start with 25K - but, if you start with 2500 and are willing to discipline yourself and truly be a student of this market -you'll go a LOT further.. Yeh, you're gonna have to work your butt off - you're gonna lose sleep - you're gonna be doin' things nobody else is wililng to do...and you're gonna look at the $ signs and think "Man, this is a LOT of work for this amount of $$'s" - and that's a lazy persons excuse to give up. BUT, at the end, you're gonna have more than others too because you got off yer butt and did things they weren't willing to do... Sorry if I'm a little hard soundin' - I'm coming off of a record month of about 30% ROI and see NO reason why I can't keep doing it over and over - only thing stopping me is myself and nothing else. You can trade forex or get a job digging ditches - and I don't care which one you do - but, both of them have something that's common regardless of what you decide to do I call it a "pass through the fire" period where you're gonna have to do things you don't want to do if you want to be successful at whatever it is..
Well said. In my opnion, one should get rid of fear and greed, and should maintain discipline.
Regardless of what the market outcome is, one should have a plan or a strategy to work with, powered by money management.
Forgot to add, that Trading for a living is not as easy as one thinks. The trader should also have a very good system or way of trading to rely on, in addition to discipline, getting rid of fear and greed. Add to this, the trader should be able to differentiate between fantasy and reality in regards to profits and account size.
All the best
Yanni
As said before, strategy/system is "overhyped" and one's mindset/$ mgmt is "underlooked".
If a trader would just get the right balance on this one, I would assure you that you would ACTUALLY SEE his trading account actually grow AND STAY that way.
Forex Killer
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Hi jgerousis,
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