crappy pattern on a long $AUDUSD 240 .. needs more time imo more tests down ..this is just asking for trouble

$AUDUSD many time thats a pre bottom hammer

3) Brasil61 ‏@brasil61

@CT_Osprey time but getting ther 10225-30 better..th up there.. 2nd mouse thing

When I was a kid I drew like Michelangelo. It took me years to learn to draw like a kid.

-Pablo Picasso

I don’t want you to follow me or anyone else.

I would not lead you into the promised land if I could,

because if I could lead you in..somebody else could lead you out.

- Eugene Debs

I never realized how mediocre the world was until I got involved with supposedly some of it’s top people.

-Mason Williams

Spontaneity (the impulses from our best self) gets confused with impulsivity (the impulses from our sick self) and then there is no way to tell the difference.

-Abraham Maslow

Invest in the process rather than the product. Process living neutralizes the depleting and impoverishing effects of chronically living in anticipation.

- Theodore Rubin

The master had never heard him speak so fervently. He walked on in silence a little, then said, “There is truth, my boy, But the doctrine you desire, absolute perfect dogma that alone provides wisdom, does not exist. Nor should you long for perfect doctrine, my friend. Rather, you should long for perfection of yourself. The deity is within you, not in books and ideas. Truth is lived..not taught .. Be prepared for conflicts .. I can see they have already begun.”

-Herman Hesse

Trading FX.. hard enough .. teaching trading ..even harder because you introduce a new set of variables.. your own perceptions ..and theirs which you cannot know and constantly only approximate.. and that problem goes both ways …teacher to student and student to teacher..both guessing what the other understands and means..

However.. there is an objective path I believe can lead to mastering the subjective art of trading…

1) Study and understand thoroughly the basics ..these are ;

a) Technical analysis as a tool

b) Probability and application of probability using technical analysis

c) Money management and risk control and risk control and of course the most important thing.. risk control

d) Build your own trading strategy and allow it to evolve -  simple is best

e) Understanding the type of trading environment the market is currently in Monthly Weekly Daily (macro economics & market psychology )

f) Accurate and Proper self assessment including emotional control ..acceptance of and using your emotions to your advantage.. not attempting to put them in a box. “I am emotionless when I trade” is developed from experience trading USING your emotions ..not trading while cutting yourself off from them.

2) Practice applying these basics – and look for where you are making errors using a well designed trade log (clear simple accurate records to track measurably important aspects of each trade) and a journal. I did not say look where you are wrong in trades.. I said errors..especially avoidable errors..

You will be wrong in trades alot.. learn to love it..

The easy to find errors are usually in the use of a,b and c in the trade log and the more difficult is d and e… as these are more subjective

and f.. I won’t touch that one to deeply.. other than to say ..the market will exploit whatever emotional or psychological weaknesses we have and our attempts to hide them unconsciously or not…will not work.

3) Frequency and Variance ->Practice .. stop staring at the monitor, reading blogs and listening to what others think.. practice the basics.. be yourself ..by yourself..

So if you make 25 trades a month ..obviously you will not have as much experience as someone who trades 100 times a month. In the learning phase if you want to develop quicker.. more trades are better..because mastering theory is meaningless without the real life market application

So I guess the average learning curve to be somewhere around 1 year to be consistently profitable once you have mastered applying the basics.

Repeat.. once you have mastered applying the basics.

Then you will be able to adapt your strategy to the existing conditions and use the natural variance which MUST occur… “to your advantage..”  the only way I know to do that is trade enough times for your edge to kick in statistically.

So it becomes trade alot (enough) to learn quickly .. then trade enough to let your edge work for you.. then it eventually becomes..if you stick with it long enough  .. trade less frequently because you avoid both sides of 60/40 trades because you recognize them from acquired experience..as a damaging habit to your results..

you trade less, produce more..and learn to love breakevens as a defense.

From my experience this is a path that works.

Last couple of points on acct size..

If you can’t afford $3000 ($1000 – 3 times) blowing yourself up in real cash accts learning ..it’s a major problem.. under capitalization ..kills

If you think you are going to make $2000 a month from a $25,000 acct ..you have a self perception problem.. (you in the 1% who can do this are the exception)

If you don’t have at least 6 months of positive returns DON’T move up in size

Get capitalized.. or build a bank slowly ..but to make a living trading ..pull enough out of your acct each month to live well, cover expenses and pay your taxes.. you need to be trading a decent size .. and that means a large enough trading account.

And Finally ..This is not a part time endeavor.. please don’t kid yourself.. the competition is working 60 hour weeks. All of this is a moving towards process.. in every aspect mentioned. You never actually arrive.

Thanks for reading ..The End

Month Long Final 3 Days Review -> Day 1

MonthLong-December-Day1-Tuesday-A- 11-12-2012 from brasil61fx on Vimeo.

MonthLong-December-Day1-Tuesday-B- 11-12-2012 from brasil61fx on Vimeo.

Day 2

MonthLong-December-Day2-Tuesday-A- 12-12-2012 from brasil61fx on Vimeo.

MonthLong-December-Day2-Tuesday-B- 12-12-2012 from brasil61fx on Vimeo.

Day 3

MonthLong-December-Day3-Tuesday-A- 13-12-2012 from brasil61fx on Vimeo.

MonthLong-December-Day3-Tuesday-B- 13-12-2012 from brasil61fx on Vimeo.

The taping started 5 minutes late ..but as far as trading and relevant commentary it’s all there.

Video 1

MonthLong-W2-Tue-A- 13-11-2012 from brasil61fx on Vimeo.

Video 2

MonthLong-W2-Tue-B- 13-11-2012 from brasil61fx on Vimeo.

Video 3

MonthLong-W2-Tue-C- 13-11-2012 from brasil61fx on Vimeo.

Video 4

MonthLong-W2-Tue-D- 13-11-2012 from brasil61fx on Vimeo.

Here is Prep Class 2

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Why should you take my Nov 2012 month long webinar – pinpoint entry, cheap defined risk, quick response trades

This trade on a 60 minute chart happens a minimum 10 times a month following 5 pairs ..

GBPUSD 60 – refined entry

GBPUSD weekly

Hi All -> Below is the basic information …you don’t need to be there everyday it is structured so you may come in and out with ease. I expect in a month of being live there will be opportunity for me to show, call and teach every type of trade setup I use for scalp and swing trading.

As always I will focus HEAVILY on risk and money management, trade flexibility and ENTRY. The goal is to create a simple decision making process for each trade in real time using a method which keeps us mentally relaxed, controlling risk, while delivering superior performance consistently… in any market conditions.

Below is 3 basic levels of every trader’s journey ..My goal is to speed this process up.

1st – stop losing money

2nd – practice correctly

3rd – start winning consistently

Thanks I hope you find this useful ..here is the link to the 5 Day webinar I did with EVERY comment that was sent by students I posted these unedited at the end.

http://brasil61.com/2012/06/04/scalp-trading-fx-how-to-have-3-5-weeks/

Tape- Reading Webinar 31-07-2012 Part 1 from brasil61fx on Vimeo.

Tape- Reading Webinar 31-07-2012 Part 2 from brasil61fx on Vimeo.

Tape- Reading Webinar 31-07-2012 Part 3 from brasil61fx on Vimeo.

Tape- Reading Webinar 31-07-2012 Part 4 from brasil61fx on Vimeo.