rolange

Excuse me! So you did see my post and there was nothing offensive about it whatsoever. I was actually quite correctly alerting the perhaps novice traders to the fact that Joe Ross is a vendor and he wants us to pay him for his indicators and systems. Also I was applauding this site for its refreshing lack of commercial bias. I now suspect the above was incorrect. A pity.

Fine. But what happened to the two posts that were removed and who removed them? If this kind of censorship is to be exercised on this site then I and many more will not want to have any part of it.

For those who were not here earlier, two posts (including one of my own) have been deleted. The removal of the posts questioning Joe Ross' motives is IMO totally against the spirit of a public forum and you Walter have done yourself and this site a great disservice by imposing these measures. Very disappointing.

The 10000 hours and 10 years estimate mirrors exactly the results of research - subject of a TV documentary- on specialist music schools such as The Yehudi Menuhin School. It was found that the children who went on to become successful professional musicians and international prize winners were the ones who were not only talented but put in the most hours of practise. Within this group the majority were Asian/Oriental and it was cited that the work ethic and discipline inherent in these cultures was an advantage. How many contemplating trading would consider it if they were aware of these statistics?

I was reading an interview recently with Larry Pesavento and in it he states that he 'abhors electronic trading' and places all his orders via phoning the broker. I believe several other high profile traders also do this. Has anybody here switched from clicking a mouse to phoning through orders? Psychologically it may have its benefits to self sabotaging traders? May prevent over trading and revenge trading. Take away the well known issues of pulling the trigger. Connect the trader to a real person and hence the real world. Any thoughts?

I agree. Us retail traders are best imitating those those tiny feeder fish grabbing little morsels here and there. Although I enjoyed reading the euphoric Utopian vision of Kurzweil's 'The Singularity is Near' (he reckons 2030) but it seemed to sidestep the crucial questions. Human beings and traders are very good at lieing, subtefuge, duplicity, and most of all self sabotage. How can a computer ever be taught to think like this? In nature and crativity and genius the greatest things are achieved by mutation, the variations on a theme, the variation that could never be modeled or predicted mechanistically. Intuition is a huge part of the equation because anyone who has developed this side of themselves will know that it opens up a whole new set of questions and the immutable conclusion that we will always be one step ahead of any computer system.

I have considered it and the allure has attracted many others too. Interesting reading on another forum (Forex)and it seems to possibly work if extremely tight criteria are observed. 1. Trading micro lots on a basket of FX 2. Removing profits from accounts on a regular basis 3. Looking at historical volatility and acknowledging that days where there can be a move of 300+ pips without a retrace. Far better to take small hits and ride the winners in my opinion.

Sorry to disagree but I would say it demonstrates a great deal of knowledge. Physician heal thyself.

Isn't Blowfish a favourite Japanese dish? Hey without fear we wouldn't last long. Without ego we would be androids or buddhist monks perhaps. There is too much emphasis on everything that's (or may be) wrong with us these days. The we are told we can be fixed with this or that. The cost of new drugs has crippled the NHS. By 2020 60% of illness in the EU will be 'stress related.' A sick society or are sickness and fear, the price we pay for for capitalism? Good for the economy. People spend more when they are afraid. We are but human - not machines. I always know when to stay away from the trade desk now. Sometimes you can listen to tapes, do yoga, meditation and still not be 'in the zone.' It's part of life. After a couple of losers I go to the simulator and if this is unsuccessful then I shut down and come back another time. The NLP software helped me indirectly insofar as it helped understand the human condition a little further.

There is now a large industry feeding off the anxieties of traders and some charge considerable fees for a days shrinkage. What you are experiencing is a common symptom of high anxiety in a stressful situation. I used to get it in golf a lot especially when playing in club competitions - it happened at the top of the swing - something took over and made me either swipe at the ball resulting in a horrible slice or hold onto the club and then duffing the shot. Solving this problem actually also helped me with a similar trading problem not unlike yours. There are two factors - one is the desire for total control through fear of failure and the other is the inability to get into what sportsmen and Mark Douglas call the Zone. The practise swing and paper trade always seem so easy yet the real thing is sometimes a totally different animal. Mainly I believe is that when we are trading live and hitting a golf shot under pressure our attention is on the outcome and all the possible negatives. This in turn causes emotions to run high producing the fight or flight response and thus clouds our judgement. So is there a solution apart from the obvious thing of getting into the Zone, being in the NOW, removing our ego (the self 1) from the activity? Realising that to err is to be human and luck, confidence, and success are achieved by practise and discipline. The other secret that I can share with you that a little brainwashing/reconditioning (now called NLP) can go a long way and for 44 USD and a little desire and effort you can tailor make your own NLP program. I have tried most of the software available and this is the best IMO. Be careful of the strobe lighting option, I find this OTT. The audio is enough for me. I highly recommend you write your own scripts. Physician heal thyself. http://www.transparentcorp.com/products/np/index.php

There was a thread on another Forum entitled "Why do so many traders lose money?" One answer was "Because they want to." And that basically hits the nail on the head IMO. Inhibition, self worth, self esteem, anxiety, self doubt, self delusion, insecurity, etc All of these, no matter how small or denied or masked, rear up and dance a Fandango the moment we put our precious pennies on the line. The buck literally does stop @ chez moi. Solution. Get shrunk, dig up the childhood, get religion? Perhaps. Answers on a postcard please because that's what we want. A three liner quick fix to all our problems. And another thing. Be careful of what you wish for......

Howard at ensign offers some great insights. http://www.ensignsoftware.com/tips/tradingtips13.htm#Time http://www.ensignsoftware.com/tips/tradingtips18.htm#Importance This page is an essential read for Grail seekers http://www.ensignsoftware.com/tips/tradingtips42.htm#In

There is a certain alchemy involved otherwise everyone would be doing it. I found this recently and would suggest there is a great method amongst the seeming madness of fib. http://www.ensignsoftware.com/tips/tradingtips30.htm If it works for Larry.....

Quite by coincidence there is a similar question on ET http://www.elitetrader.com/vb/showthread.php?threadid=94282

http://www.transparentcorp.com/products/np/index.php This is excellent software - there is a demo and to buy only $44 download the demo and read up up on NLP + brainwave entrainment and all the various techniques then program your own suggestions and rewire the brain. There are many pages on anchoring, swish techniques etc. Listen to a theta transform brainwave state. This is excellent for trading and the more days you listen the easier it becomes to get into the zone and cease negative thinking and ego interfering with trading. One warning though - they state the software is not to be used by children or epileptics or if you are on medications or have a history of seizures. Read the disclaimer on the site. Of course if you are trading with money you can't afford to lose and/or your partner is not supportive then they say one shouldn't be trading under any circumstances.

Thanks ST! In your opinion which one is most useful - the pure noise or one with commentary? rolange

Do you have to be a member ie sign up to download the videos?

I'm investigating using a bit of pit noise. Has anybody here anything to report? I see there are a few services available CME marketSound traders audio.com || Traders Audio || which offers S&P broadcast or just the background noise + E-mini squawkbox. There are free trials 'Trade the News' looks interesting too Trade The News - Products - Forex - Live Audio Breaking News Analysis and Futures Calls thanx

Agreed we need more details. However it was stated that the strategy must use currency futures to have a chance due to slippage, spread and bad fills. I certainly wouldn't attempt scalping through spot FX. I'll say again that it makes no sense to use a strategy with such a poor R:R.

Even if we could clarify the entry points the real concern with this strategy is the risk to reward element. Even though the ratio of wins and and losses is very good - at least from manual backtesting, the present SL is too great to make it a viable strategy because one loss, a day with a SL of -25 pips wipes out five winning days. There must be another element that I have missed because it doesn't make sense to be trading this strategy with 50 contracts per trade as the transcrpt and results show. I wonder if raoul would be kind enough to enllghten us?

I PM raoul himself a few days ago but no reply Anybody else able to help? I have a couple of questions about the currency future trading system you talk about in the transcript if I may. 1. You take the H and L at 7pm ET and then place an OCO order immediately? 2. I notice on some days the previous high and low are taken out so why not put two orders in? 3. I the trade breaks niether high nor low do you hold for the next session with the same targets? 4. Do you take profit with a market or limit order. As for entering a market order in my experience usually misses the desired price so do you put the market order in 1 or two pips below/above the desired entry point? 5. If you are trading 50 contracts are these really all filled everytime with no problems. If so perhaps you could tell me who your broker is! 6. Have you tried the strategy on JPY/USD, CHF/USD or CAD/USD?

Thanks Is AUD/USD now not recommended for of the FX trades? Which pairs do you trade if I may ask?

Hi all I'm a bit confused about this strategy! 1. Is it for index futures or FX futures or both? Also the strategy in the transcript is different from the strat in the doc, one uses previous day's high/low from 7pm ET and the latter uses the 9:15 - 9:30 H/L before market open. My other question is fills. Is there any experience about slippage and bad fills? thanx rolange