Greetings and salutations fellow trader: Welcome to my profile.
Here you'll find some encouragement and useful information to assist on your trading journey.
Also, you will find some irrelevant sh*t that has absolutely NOTHING to do with trading but interests me, and could be just as important to everyone - if not more so.
I wish you all the best in your trading.
Thank you for visiting my profile, and may you enjoy many green pips!
(2008 - today)
MODERN DAY ALCHEMY: CREATING MONEY FROM NOTHING
"Before you start some work, always ask yourself three questions - Why am I doing it, What the results might be and Will I be successful. Only when you think deeply and find satisfactory answers to these questions, go ahead."
- Chanakya (Indian teacher, philosopher, economist, jurist and royal advisor, c.371-283 BC)
= AIM =
i) to generate a perpetual income on auto-pilot;
ii) to supplement, then supplant my regular income;
iii) to accumulate funds expediently;
iv) to retire and have Financial Freedom;
v) to make a positive difference in the world.
Compared to a conventional business, property, shares, etc. the benefits include:
i) high leverage (up to 3000:1 = increased profit potential);
ii) low margin requirements ( = lower barriers to entry);
iii) high liquidity ( = immediate entry & exit of the market);
iv) high volatility ( = greater movement = greater profit);
v) custom position sizing (0.01 - 100 Lots = manage risk better);
vi) 24 hours x 5 days market is open ( = more trade opportunities);
vii) limited pairs ( = fewer trade instruments to analyse);
viii) ease of tax calculations ( = trading statements provide all evidence);
ix) ease of duplicability ( = multiply results efficiently);
x) enormous volume ( = market manipulation more difficult);
xi) geographically unrestricted ( = trade anywhere = mobile business);
xii) global reach ( = business continuity unaffected by disasters, macroeconomics, etc.);
xiii) risk mitigation ( = using trading strategies eg. hedging);
xiv) automation ( = profits on auto-pilot using Expert Advisor trading robots);
xv) immediate analysis ( = obtain an accurate "statement of financial position" at all times).
# “Wide diversification is only required when investors do not understand what they are doing.”
- Warren Buffet
# "The most successful investors don't diversify. Rather, they FOCUS and specialize. They get to know the investment category they invest in and how the business works better than anyone else."
- Robert Kiyosaki
- HYPOTHESIS 2:
# "All unsustainable moves are corrected."
- Scott Barkley (award winning Forex Trainer and analyst, President ProAct Traders)
# "This makes sense when you step back and look at the big picture. Nothing goes up in a straight line forever. Not stocks. Not real estate. Not anything. There always have to be periods of corrections… booms followed by busts."
- Simon Black (international investor, entrepreneur, and founder of Sovereign Man)
= ESSENTIAL REQUIREMENTS =
i) determination, fortitude, patience, faith, FOCUS;
ii) a stable other income source;
iii) Australian Business Number (ABN),
iv) Personal Computer (PC) and ADSL internet,
v) FSA/ASIC-regulated ECN/STP broker (recommended: http://icmarkets.com/?camp=24876)
vi) Virtual Private Server (VPS),
vii) MetaTrader 4 (MT4) trading platform,
viii) $10,000 risk capital MINIMUM (preferably more);
ix) Expert Advisor (EA) trading robot;
x) a knowledgeable tax agent.
= METHOD OF PROCEDURE (MOP) =
i) have stable other income from regular employment or a business;
ii) open a $10,000 DEMO account at a ECN/STP broker (recommended: http://icmarkets.com/?camp=24876);
iii) setup a VPS: either broker-provided, or through a reliable VPS-provider;
iv) download and install MT4 terminal from broker's website onto the VPS;
v) download and install EA onto the MT4 terminal;
vi) backtest EA using historical data in MT4's Strategy Tester;
vii) forward test EA on Demo Account for a minimum of three months;
viii) destroy useless robots that don't work properly: https://www.youtube.com/watch?v=cJaD1njC0c4
ix) pending satisfactory forward test, open a Real account with a minimum $10,000 risk capital;
x) use an ABN (Australian Business Number) for taxation purposes - it is a business!
xi) offset any losses against your Assessable Income - and don't give up;
xii) accumulate and compound profits;
xiii) regularly withdraw profits, maintaining sufficient margin at all times;
xiv) declare all profits and pay your tax honestly!
xv) make a positive difference in the world; be generous and help other people.
= SAFETY/RISKS =
Forex trading involves a high degree of risk, including the loss of your entire investment:
Do not invest money you cannot afford to lose;
Do not trade unless you understand the risks;
Past performance is no guarantee of future performance;
Results will vary depending upon broker conditions, VPS provider and EA settings.
The risks include:
i) opportunity cost caused by loss of money and time invested;
ii) the EA, including trading strategy, user settings, programming quality;
iii) market behaviour of trading instruments chosen;
iv) insufficient margin for trades and drawdowns;
v) "Black Swan" events: eg. Brexit (June 2016), Swiss Franc (January 2015), GBPUSD flash crash (October 2016), etc.
vi) major News Events (NFP, FOMC, etc).
Forex is the fastest way to wealth and paradoxically to penury. Before even considering VPS costs, broker commissions, latency, slippage, low liquidity, etc., the odds are already stacked against every trader:
A loss of 10% requires a gain of 11.11% to recover;
A loss of 20% requires a gain of 25% to recover;
A loss of 30% requires a gain of 42.86% to recover;
A loss of 40% requires a gain of 66.67% to recover;
A loss of 50% requires a gain of 100% to recover.
# "Many great entrepreneurs have had a moment when they have lost everything. Monks create this situation intentionally through 'Vairagya' when they give up all money and possessions. Many entrepreneurs end up in the same situation unintentionally."
- Roger Hamilton (world renowned futurist and social entrepreneur, https://www.linkedin.com/pulse/monk-moment-roger-hamilton)
# "The difference between an experienced trader and a beginner is that the former has lost more money."
# "To turn $100 into $110 is work. To turn $100 million into $110 million is inevitable."
- Edgar Bronfman, Sr.
# "Out of the 241 trades, 16 of them were responsible for ALL of the profit. Most people in this world can't handle it. Yet, it is the only way I have ever seen anyone make money trading. Ever. I was on Wall Street for 23 years. All of the successful fund managers will have long losing streaks, sometimes lasting 6 months to a year. And then... boom! They let their winners run and they wipe out all of their losses. It is how trading works."
- Mark Shawzin (thepatterntrader.com)
= DISCUSSION =
I became interested in forex during the Global Financial Crisis of 2008, when front-page news highlighted the opportunities (and the risks). For the first time ever, the Aussie Dollar reached parity with the US Dollar (August 2008) and my first foray into forex began with CFDs at CMC Markets. I sold AUDUSD, turning $4K into $32K within 4.5 days from the Monday until Friday afternoon, but within 30 minutes my account was over-leveraged to the extent that open profit dropped by $10K to $22K. At US$0.89 I decided the market still had a long way to go down, so I kept my positions open expecting I would survive. Unfortunately, the market corrected to US$0.92 and I received my first ever margin call. It was a thrilling learning experience, and I was hooked!
From August 2008 - August 2018 my results were no less than depressing. This is mainly due to over-leveraging, taking unnecessary risks, overconfidence and impatience. I never was patient to test strategies on Demo: Demo doesn't accurately reflect Real trading conditions with slippage and latency. I estimate my total trading losses approximate near AUD$700K(?): 1) "You pay for education, whether university or real-life experience"; 2) "No one becomes successful from Day 1"; 3) “Nothing worth doing is ever easy.”
It hasn't been a "total" loss: As a business venture with ABN, losses offset Assessable Income. Unfortunately, for the first few years I didn't find a good tax agent: my worst agent calculated a $6000 tax refund one year at a cost of $600 (with properties), and the next year charged me $2000 and I owed $10,000 more tax! A good agent is "rare as hen's teeth". The last seven years I have had tax refunds which have helped soften my losses considerably:
In September 2018 I had a change of fortune, with my change in strategy. From looking at shorter timeframes of 1m, 5m, 15m, 1h, to looking at longer timeframes of 4h, Daily, Weekly - I have come full circle. With my 2018 tax refund of $30K, plus $20K in savings, I found the CHFSGD overbought and nearing long-term resistance after seven straight winning days. Short CHFSGD was Swap-positive, so even more encouragement to hold the positions for the ride down! I Shorted heavily and made over 800%. The CHFSGD wasn't the only good opportunity: the next month I Shorted EURTRY and boosted my capital from $450K to over $4.2M. I will continue what is proving to be a good strategy!
The market odds are 50/50, either up or down. That is better odds than the casino, sports betting or horses! And then you improve your odds by looking at:
- Long-Term Support / Resistance levels
- Long-Term Overbought / Oversold movements (correlations of same currency with different pairs)
- 4H, Daily, Weekly charts
- favoring positive Swaps
- understanding fundamentals and market dynamics
- having PATIENCE to hold trades for a week or longer
The big money is to be made on the higher timeframes. PATIENCE is probably more important than any other skill required. That means in today's society with on-demand and instant gratification, many people suffer a lack of this essential trading skill.
There is a plethora of Expert Advisors (EA) to consider. Essential criterion include:
i) positive user reviews: www.forexpeacearmy.com
ii) verified Real monitoring account(s) with greater than three months' trade history, demonstrating consistent and reliable returns;
iii) prompt and helpful pre-sales / after-sales support;
iv) fair price and license options;
v) detailed explanation of trading operations;
vi) detailed instructions on setting-up the EA (pairs, timeframes, parameters);
vii) performance will vary depending on trading conditions (ie. VPS, broker) and EA setup (pairs, parameters set);
viii) margin requirements for trading strategy employed by EA.
= CONCLUSION =
To be D.E.T.E.R.M.I.N.E.D:
* to be ASCERTAINED...
* it has been ASCERTAINED!
* "where there's a will, there's a way!"
# "The difference between the impossible and the possible lies in a man's DETERMINATION."
- Tommy Lasorda (manager, Los Angeles Dodgers, 1977-1996)
# "It always seems impossible until IT'S DONE."
- Nelson Mandela (South African President, 1994-1999)
# "What separates those who go under and those who rise above adversity is the strength of their will and their hunger for power."
- 50 Cent (American rapper, singer, songwriter, record producer, actor, businessman, and investor)
# "Your willingness to fail is what will let you succeed."
- Vinod Khosla (Indian American billionaire engineer, businessman and venture capitalist)
# "Men succeed when they realize that their failures are the preparation for their victories."
- Ralph Waldo Emerson (American essayist, lecturer, philosopher, and poet, 1803-1882)
# "Super success is not for the wishy washy. Victory in business, like war, comes to the toughest son-of-a-bitch in the valley."
- Dan Pena (American businessman and business coach)
# "Without your involvement you can't succeed. With your involvement you can't fail. "
- A.P.J Abdul Kalam (scientist, science administrator, 11th President of India) (1931–2015)
# “Dream is not the thing you see in sleep but is that thing that doesn't let you sleep.”
- A.P.J. Abdul Kalam (scientist, science administrator, 11th President of India) (1931–2015)
# “A man convinced against his will, stands opposed ever still. A man convinced he is right, gives the effort twice the fight.”
- Jeffrey Fry (entrepreneur)
# "The test is to recognize the mistake, admit it and correct it. To have tried to do something and failed is vastly better than to have tried to do nothing and succeeded."
- Dr. Dale E. Turner
# "Failure should be our teacher, not our undertaker. Failure is delay, not defeat. It is a temporary detour, not a dead end. Failure is something we can avoid only by saying nothing, doing nothing, and being nothing."
- Dr. Denis Waitley (American motivational speaker, writer and consultant)
# “If you want to increase your success rate, double your failure rate.”
- Tom Watson Sr. (American businessman, chairman and CEO of International Business Machines (IBM), 1874 - 1956)
# "Come what may, all bad fortune is to be conquered by endurance."
- Virgil (Roman Poet, 70-19 BC)
# “Our critics make us strong! Our fears make us bold! Our haters make us wise! Our foes make us active! Our obstacles make us passionate! Our losses make us wealthy! Our disappointments make us appointed! Our unseen treasures give us a known peace! Whatever is designed against us will work for us!”
- Israelmore Ayivor (writer, The Great Hand Book of Quotes)
HOW TO INVEST LIKE... MICHAEL STEINHARDT (American investor, hedge fund manager, and philanthropist)
By Filipe R. Costa
= A FEW TRADING RULES =
In a speech back in 2004, Steinhardt mentioned a few trading rules that he believes to be critical to achieving a successful investment performance. They can be summarised as follows:
1. Make all your mistakes early in life.
Steinhardt is very pragmatic and believes that the most important part of learning comes from one's own mistakes. Investors learn from their bad experiences and become aware of what works and what does not.
2. Always make your living doing something you enjoy.
This allows the commitment to the whole investment process to be strong, which is a requirement in a competitive world. Basically, investment is about brain and heart.
3. Be intellectually competitive.
Investment is a continuous process requiring supervision and action even before some particular asset is selected and added to a portfolio. Constant research is always required to gain an advantage over the market in order to "sense a major change coming in a situation, before anyone else". Sensing the market before all others do has always been a top priority for Steinhardt; it is this that led him to go over his firm's portfolio six times a day, and rendered him the sobriquet Captain Ahab.
4. Make good decisions even with incomplete information.
It is a good idea to gather as much information as possible before entering any single trade, but the available information will never be complete or perfect. Investors need to be trained to work on the facts, figure out what does matter, and take the right trading decisions before all others gain awareness of the situation. They then need to have the courage to put sufficient money behind the trade to achieve a meaningful outcome.
5. Always trust your intuition.
Over the years, investors develop and refine an ability to take the best decisions on their intuition. But this intuition doesn't come from a gut feeling or a hunch. Rather, it is a complex process deriving from the investor's cumulative learning over the years. It's wisdom, like that of a fruit seller guessing weights without a scale. It's an educated intuition.
6. Don't make small investments.
Amazon's stock price climbed from $38 to $820 during the last 10 years, a 2,160% rise. Had you invested $10,000 you would have a respectable $216,000 position by now. But had you invested just $100 you would have missed a potentially life-changing opportunity. After spending so much time and effort researching an asset, investors must make sure that the rewards from the money at risk are meaningful.
= A FEW FINAL WORDS =
Steinhardt's variant perception is a contrarian approach to the market, but one under which opposing market sentiment is insufficient. Timing is everything. Just because sentiment is very bullish, which is usually the case near market tops, it doesn't mean it can't be even more bullish the next day (the Nifty-Fifty during the 1960s is a good example of this).Trends often last longer than you can stay solvent betting against them. Investors need a strong instinct for the markets, which takes time to develop and effort to improve. Past experience trading the markets is key, as is knowledge acquired through deep research. Steinhardt doesn't believe in pre-set rules. For him, stop-loss orders, buying on weakness selling on strength breakouts and breakdowns, as well as charts and technical analysis, are all superfluous to a successful strategy. "I look at the stock. It has a fantastic chart. The chart has a base like this, and then if it goes up a little bit more, boy it is a real breakout, blah, blah, blah, blah. They all seem the same to me".
Fundamentals and market timing is what matters the most. And, when the right opportunity surges, investors should embrace it without fear, being flexible enough to be net short as easily as they can be net long, and having the boldness to take on large meaningful positions.
DAN PENA'S PENAISMS (American businessman and business coach)
# Tough times don’t last. Tough people do.
# Dream big… and dare to fail!
# The more you investigate, the less you have to invest.
# Never, ever second-guess yourself.
# I’ve never seen a “part-time” super successful, high performance person.
# Don’t waste time on things you can’t change.
# When you deal with the opinionated or egotistical, always give credit where it isn’t due.
# You won’t always have all the answers. Only take seriously the advice of others whom you greatly respect.
# The consequences of a misguided decision are insignificant in the cosmos of eternity.
# Always shoot for the moon. Even if you don’t hit the bulls-eye, you’ll at least get 80%
# Everybody else is worried about life after death. My concern is about life before death.
# The business world is divided into people with great ideas, and people who take action on those ideas.
# If you want things to change, first you have to change.
# A man who dwells on his past, robs his future.
# There’s a big difference between playing to win and playing not to lose.
# The only difference between a champ and a chump is “U”.
# A good plan executed today is better than a great plan executed next week.
# The fulfillment of your dream is directly proportional to your desire to succeed… and how much you’re willing to sacrifice. If you are not prepared to die, then you are not prepared to live.
# To achieve “hyper-growth”, avert avoidable mistakes, and let your successes run their course. Do more of what you’re doing right – and less of what you’re doing wrong.
# Business opportunities abound – but formidable barriers exist. And the biggest barrier is psychological. It is you.
# Conventional wisdom is almost always wrong.
# Absence of evidence is not evidence of absence. Just because something has never been done doesn’t mean it can’t be done. The fact you have never seen or heard something is not proof that it doesn’t exist.
# Every worthy dream has a “pay-price-to-action”. That means you have to give up something to get something. You can’t have it all.
# The best way to predict the future is to create it yourself.
# I never met a super successful, high performance person who wasn’t enthusiastic.
# Whoever said money can’t buy you happiness doesn’t know where to shop.
# It doesn’t matter what morons say.
# Excuses are the crutches of the untalented and unambitious.
# You’ve known all along it’s tough to be successful. But you’d rather hear the fairy tales.
# Always respect the individual on the other side of the deal. He is not as stupid as you may think. And you’re not as smart as you think.
# Logic can be a logical process which leads to a wrong conclusion.
# It isn’t a case of taking a big chance. It’s a matter of giving yourself a big chance.
# The more self-esteem you give others, the more you have. And the more you have, the easier it is to give away.
# Most successful people do it poorly until they do it well. Just keep blundering along. You can’t wait until it’s exactly right. The product of your quest for perfection is… paralysis.
# A guarantor is a fool with a pen.
# No matter how tempting, never accept short-term solutions to long-term problems.
# Too many companies try to patch when they should amputate. ‘Let’s reorganize and save this mess’ is a clarion call to disaster. Cut your losses, kick the cuttings out of your way, and move on.
# If you want to travel above and beyond the herd, don’t try to be better. Try to be different. Or better yet, be first!
# Find your passion and wrap your career around it.
# You’ll be motivated by inspiration… or desperation. It’s your choice.
# People with low self-esteem protect themselves by not taking risks. High self-esteem gives you the power of confidence to take chances.
# Give yourself permission to make mistakes. It’s called learning.
# Being all you can be is possible for anyone, but... super success is not for everyone. Period.
# Don’t take high performance advice from your peers, family or friends unless they are high performance people themselves.
# The road to success is always under construction.
# Progress often masquerades as trouble.
# Don’t focus on mistakes, focus on the positive “next time”!
# "Matthew you are poor man! The worst trader I know! Probably the worst trader in the world! Why do you comment free products that you are not interest in and you do not know nothing about these products, you financial moron! Just for points? It is your new way of making money? Anyone who lost less money than you is better trader than you!!! Even koala bear LMAO!" (2018)
- Krzysztof Lorenc (typical hater)
MY RESPONSE: https://www.youtube.com/watch?v=QFcv5Ma8u8k
# "You can't stop, you have an addiction, that's a serious problem. You are mentally sick; you need to see a psychologist." (2018)
- M. Garwarzad (another typical hater)
MY RESPONSE: https://www.youtube.com/watch?v=Uboyl2mjs9Y
# "You were greedy. You should have listened to me all those years ago (ten years, 2008?) and invested in houses. Houses were $300 K, now they are over $1 million. You could have had a few houses by now. The rent helps pay them off. You could have been retired by 40 years old (currently 35). You should cut your losses now and stop your gambling. Take out whatever money you have left and invest in gold. Fiat currency is going to be worthless. We are going to see a depression worse than 1930. You have wasted all your money. You wouldn't have to keep working three jobs if you had listened to me back then. You better start saving or else if you lose your job you will have nothing. What will happen if you can't work? If you fall sick? You won't be able to afford medical expenses, and you won't be able to afford rent. You will be out on the streets (begging). Start putting some money away in a savings account. You're lucky you're not in jail for losing all that money." (2018)
- K. Morel (yet another typical hater, still working at 50)
MY RESPONSE: https://www.youtube.com/watch?v=iIWtyoUdbbs
# "How's your gambling? How much you lost now? Oh, now you made money? Take your money out! You won't / can't take the money out? See, there must be a problem. Maybe you don't actually have it? Maybe it's all a scam?" (2018)
- M. Rouse (...and yet another typical hater, still working at 60!)
MY RESPONSE: omg... seriously? lol Even if I showed them the money, people will still not believe - people are impossible! Jealousy or disbelief, or a mixture of both?
# "Do not go where the path may lead, go instead where there is no path and leave a trail."
- Ralph Waldo Emerson
# "We should not fret for what is past, nor should we be anxious about the future; men of discernment deal only with the present moment."
- Chanakya (Indian teacher, philosopher, economist, jurist and royal advisor, c.371-283 BC)
# "Much of man's sorrow is born of the disappointment of his ambitions and the wounding of his pride. Although men owe a duty to themselves to make the best of their lives on earth, having thus sincerely exerted themselves, they should cheerfully accept their lot and exercise ingenuity in making the most of that which has fallen to their hands."
- Jesus, The Urantia Book (149:5.3)
# "The super successful also have a different take on failure. They understand that failure is what happens when you do something. The greatest successes in the world also experienced the greatest failures. The all-time strikeout record in major league baseball is held by… Babe Ruth. But we don’t remember him for his strikeouts. We remember him for setting a home run record that stood for decades, long before performance enhancing drugs destroyed America’s love affair with baseball. No one cares about the Babe’s strikeouts. The point is he kept swinging the damn bat! Most of us never get out of the dugout – let alone up to the plate. Those people not only wonder why they never hit a home run – they even begrudge the determined hitters who do."
- Dan Pena (American businessman and business coach)
# "But life will become a burden of existence unless you learn how to fail gracefully. There is an art in defeat which noble souls always acquire; you must know how to lose cheerfully; you must be fearless of disappointment. Never hesitate to admit failure. Make no attempt to hide failure under deceptive smiles and beaming optimism. It sounds well always to claim success, but the end results are appalling. Such a technique leads directly to the creation of a world of unreality and to the inevitable crash of ultimate disillusionment."
- Rodan of Alexandria (philosopher) The Urantia Book (160:4.13)
# "If all you have is money, you are among the poorest people in the world. You only become truly rich the day you possess something that money cannot buy.”
- Matshona Dhliwayo (philosopher, entrepreneur, and author)
# “While wealth will be a capricious shadow to our lives, true riches lie in strength of character; that is infinitely harder to accumulate. It is the only gold that enhances our potential in terms of what we can offer the world.”
- Salma Farook (author)
# "Again, the kingdom of heaven is like unto a merchant man, seeking goodly pearls: Who, when he had found one pearl of great price, went and sold all that he had, and bought it."
Jesus (Matthew 13:45-46, King James Version)
# "If the faith of the Most High has entered your heart, then shall you abide free from fear throughout all the days of your life. Fret not yourself because of the prosperity of the ungodly; fear not those who plot evil; let the soul turn away from sin and put your whole trust in the God of salvation. The weary soul of the wandering mortal finds eternal rest in the arms of the Most High; the wise man hungers for the divine embrace; the earth child longs for the security of the arms of the Universal Father. The noble man seeks for that high estate wherein the soul of the mortal blends with the spirit of the Supreme. God is just: What fruit we receive not from our plantings in this world we shall receive in the next.” '
- the Cynics, The Urantia Book (131:1.9)
# "...the object of fear is fear itself. "Nothing," says Seneca, "is terrible in things except fear itself." And Epictetus says, "For it is not death or hardship that is a fearful thing, but the fear of death and hardship." Our anxiety puts frightening masks over all men and things. If we strip them of these masks their own countenance appears and the fear they produce disappears. This is true even of death. Since every day a little of our life is taken from us - since we are dying every day - the final hour when we cease to exist does not of itself bring death; it merely completes the death process. The horrors connected with it are a matter of imagination. They vanish when the mask is taken from the image of death."
- Paul Tillich (The Courage To Be, p.19)
# 'One day when Ganid asked Jesus why he had not devoted himself to the work of a public teacher, he said: “My son, everything must await the coming of its time. You are born into the world, but no amount of anxiety and no manifestation of impatience will help you to grow up. You must, in all such matters, wait upon time. Time alone will ripen the green fruit upon the tree. Season follows season and sundown follows sunrise only with the passing of time. I am now on the way to Rome with you and your father, and that is sufficient for today. My tomorrow is wholly in the hands of my Father in heaven.” And then he told Ganid the story of Moses and the forty years of watchful waiting and continued preparation.'
- The Urantia Book (130:5.3)
# "To ask is the first important step. To continue to ask never allows the process to move beyond the asking stage. First ask, assume the answer is on its way and then continue to express appreciation that it is happening in its own perfect wisdom and timing. That 'wisdom and timing' is greatly influenced by the one asking and how well that awareness is able to follow through with the two remaining steps after the initial asking. This is often called prayer. Nothing can happen until there is first asking. Then the next two steps, assuming it is happening (continued FOCUS of intent) and expression of appreciation (allowance) controls the manifestation. It is that simple! A few additional details are helpful. Ask within a framework that allows what might be called 'Divine Intelligence' or thought thinking to fill in the details. Doubt destroys results; trust insures them."
- Vol III: Becoming (http://www.nohoax.com/media/Becoming.pdf )
# "Try and leave this world a little better than you found it, and when your turn comes to die, you can die happy in feeling that at any rate, you have not wasted your time but have done your best."
- Robert Baden-Powell (British Army officer, writer, author)
# "Happiness is not in happiness, but only in achieving it."
- Fyodor Dostoevsky (Russian philosophor)
# "One shouldn't take life so seriously. No one gets out alive anyway.”
- Jim Morrison (American singer-songwriter and poet)
# “We are here to awaken from our illusion of separateness.”
- Thich Nhat Hanh (Buddhist monk)
- Loops highlight the dog-leg in the middle of the down-trend.
- After the down-trend, the market has moved up, before a peak.
- Longer TF will show how market breaks and reverses down-trend.
- Trend is your friend!
Pretty chart! Long AUDCAD! Weekly looks promising!
(there's something about 1500-1600 points here... market seems to bounce each time)
The market can only be 50% up or 50% down - that is better odds than the casino, sports betting or horses! And then you can improve your odds by looking at:
- Long-Term Support / Resistance levels
- Long-Term Overbought / Oversold
- Fibonacci retracement levels
- 4H, Daily, Weekly charts
- favoring positive Swaps
- having PATIENCE to hold trades for a week or longer
The big money is to be made on the higher timeframes. PATIENCE is probably more important than any other skill required. That means in today's society with on-demand and instant gratification, many people suffer a lack of this.
PATIENCE, PATIENCE, PATIENCE!!! (looking at Weekly especially)
For the record: 9am 16/07/18 my broker IC Markets (Daniel from Trading Desk Department) called me "requesting" exposure on EURTRY be reduced from 670 Lots to half by the end of Asian session - or suffer the threat of reduced leverage from 500:1 to 100:1.
I waited all morning but market only went sideways. I closed out 470 Lots... and missed making the most of the move overnight...
Thanks IC Markets (not). I somewhat resent my broker now :(
Original position: 33 x 20 Lots, 1 x 10 Lots (670 Lots)
Final position: 10 x 20 Lots (200 Lots)
Potential "loss": $1 million+
Swap Interest beats normal bank interest ANY DAY!!!
To all my haters (with love):
$127,223 interest in 7 days, on account balance of $650,000.
“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn't … pays it.” (commonly attributed to Albert Einstein)
And "LEVERAGE" (Force Multiplication) is the ninth wonder of the world, "he who understands it, earns it … he who doesn't … pays it":
- a conventional business leverages the time of its employees;
- a bank leverages the deposit money of investors;
- an army leverages the freedom of its personnel;
- a government leverages the tax money of its citizenry;
- technology is a great "leverager" in society.