Mysticforex

One should apply Malcolm Gladwell's 10,000 hour rule. In his recent book ‘Outliers’ Malcolm Gladwell describes the 10,000-Hour Rule, claiming that the key to success in any cognitively complex field is, to a large extent, a matter of practicing a specific task for a total of around 10,000 hours. 10,000 hours equates to around 4hrs a day for 10 years. For some reason most people that ‘try their hand’ at trading view it as a get rich quick scheme. That in a very short space of time, they will be able to turn $500 into $1 million! It is precisely this mindset that has resulted in the current economic mess, a bunch of 20-somethings being handed the red phone for ... (full story)

That's a keeper, just saved it to notepad.

MightyMouse. In the past when I was confident in my analysis, I would scale in big time. My government's attempt to protect me from myself ( FIFO ) required I make a tactical change in my trading.

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Agree, Aud safer. I eventually see 9773.... I am not a Candlestick trader, however, I don't like the look of yesterdays daily candle. Also, we rarely see a 200 - 300 pip move these days. It's more like 30 pips a day, then a slight retrace up. I have had shorts all the way from 108xx, but always exit with 30 - 50 pips. A lot of them though, so it might almost equal out. One of my weaknesses as a trader has been holding trades that carry a negative roll. In general I think the less time you hold any position, the less "at risk" you are.

A Blonde Goes On Who Wants To Be A Millionaire Regis: "Barbara, you've done very well so far - $500,000 and one lifeline left -- phone a friend. The next question will give you the top prize of One Million dollars if you get it right ... but if you get it wrong you will drop back to $32,000 -- are you ready?" Barbara: "Sure, I'll have a go!" Regis: "Which of the following birds does not build it's own nest? Is it........ A-Robin B-Sparrow C-Cuckoo D-Thrush Remember Barbara its worth 1 Million dollars." "I think I know who it..but I'm not 100%... No, I haven't got a clue. I'd like to phone a friend Regis, just to be sure. Regis: "Yes, who, Barbara, do you want to phone? Barbara: "I'll phone my friend Maggie back home in Birmingham." (ringing) Maggie (also a blonde): "Hello..." Regis: "Hello Maggie, its Regis here from Who Wants to be a Millionaire-I have Barbara here and she is doing really well on $500,000, but needs your help to be a Million. The next voice you hear will be Barbara's and she'll read you the question. There are 4 possible answers and 1 correct answer and you have 30 seconds to answer -- fire away Barbara." Barbara: "Maggie, which of the following birds does not build it's own nest? Is it: A-Robin B-Sparrow C-Cuckoo D-Thrush" Maggie: "Oh Gees, Barbara that's simple.....It's a Cuckoo." Barbara: "You think?" Maggie: "I'm sure." Barbara: " Thanks Maggie." (hangs up) Regis: "Well, do you want to stick on $500,000 or play on for the Million, Barbara?" Barbara: "I want to play, I'll go with C-Cuckoo" Regis: "Is that your final answer?" Barbara: "It is." Regis: "Are you confident?" Barbara: "Yes fairly, Maggie's a sound bet." Regis: "Barbara.....you had $500,000 and you said C-Cuckoo ...you're right! - You have just won ONE MILLION DOLLARS. Here is your check. You have been a great contestant and a real gambler. Audience please put your hands together for Barbara." (clapping) That night Barbara calls round to Maggie and brings her down to a local bar for a celebration drink and, as they are sipping their Champagne, Barbara turns to Maggie and asks "Tell me Maggie, How in God's name did you know that it was the Cuckoo that does not build its own nest? Maggie: "Listen Barbara, everybody knows that a Cuckoo lives in a clock." ~~~~~~~~~~

Undecided here... will wait for a look at NY open.

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Sometimes you lose focus, become complacent, and stumble back a few steps too.

In Jan 2009 I was in Scottsdale Arizona, sitting next to Rob. We were teaching a 3 day live seminar. I was teaching the Bossilator, Rob was teaching the Monday Accelerator. Rob was still pumped and very excited, and actively trading the MA on his own acct. ( Like I said earlier, I didn't care for the method ). Could Rob have been wrong? YES. Could Rob be an Asshole? YES ( I have lots of friends who are assholes, sometimes I'm even an Asshole ). Would Rob intentionally mislead people? I just don.t think so. The reason I started this thread was because I thought the idea he had using the ichimoku cloud thingy was interesting, and may have some potential for future development ( I have already applied them to my Bossilators and think it may provide earlier entries on shorter TFs ). I am sorry about the fact that the video was loaded with "suscribe now" "buy now" banners. To be honest I don't even notice that stuff any more. And Rob certainly does not need my help with marketing himself.

I do too... but I think it's because I'm a control freak LOL

TPed.................

@ Xiao si I know what you mean about learning about yourself. I think what helped me in the beginning is I set out to learn how to trade, not to learn how to make money.

Shorting E/j @11110 for 55 pips. Edit: On a Linux machine at the moment so can not post chart.

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rforexdad, I never liked the Monday Accelerator, or the different variations, Vortex, etc, etc. Waaayyyyyyy to aggressive for my style. The Bossilator has been about 25% 30% of my trading for me since 2007. I don't use it strictly the way Rob taught it. A couple of small mods. Another method I like ( I don't know if Rob ever taught it, but he told me about it ), is trading TL to TL from a shorter TF to a larger TF. And, once in while I still do a "Scottsdale" from the old Arizona Rules.

Welcome to TL ! Looking forward to your posts.

03/20/12 Will be watching GBP/JPY for a slight correction to the 1.3090 area ( Weekly Pivot ). Then, who knows? will re evaluate. I will also be keeping an eye on Oblivions gbp/chf. I used to trade that pair a lot. When it gets wound up like that it usually pops pretty good.

Are you getting out of trading what you had hoped for/ expected? What were you looking for: Replace your full time job? Supplement your income a bit? The freedom to be able to work from just about anywhere? To work at something you find mentally stimulating?

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Glad you like them. If one person gets something out of them, it was worth reposting.

Arthur is 85 years old. He’s played golf every day since his retirement 20 years ago. One day he arrives home looking downcast. “That’s it,” he tells his wife. “I’m giving up golf. My eyesight has gotten so bad. Once I’ve hit the ball, I can’t see where it went.” His wife sympathizes. Arthur sit down, she has a suggestion: “Why don’t you take my brother with you, and give it one more try.” “That’s no good,”sighs Arthur. “Your brother is ninety two. He can’t help.” “He may be ninety two,” says the wife, “but his eyesight is perfect.” So the next day, Arthur heads off to the golf course with his brother-in- law. He tees up, takes an almighty swing, and squints down the fairway. He turns to the brother-in-law. “Did you see the ball ?” “Of course I did!”, says the brother-in-law. “I have perfect eyesight.” “Where did it go?” asks Arthur. “Can’t remember.”

Cluelessness There are no stupid questions, but there are a LOT of inquisitive idiots.

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No, that's not correct.