Institutional Equivalent Education?

Rudy5, basically that is what you should do. What is important for that currency's country? What is it producing a lot or buying a lot. For commodities you could search for which countries produce it, what is it payed in, etc.
If you can do that you are on the right path. BTW producing cars for Japan is not the first thing I will think of when I think about the Yen.
And I can assure you there are so many things Ray comes up with you would never even imagine that it is important for some currency pair or commodity.

I got AUD covered pretty well, but going to the next easiest one which I figured was CAD I hit a wall. So I decided to do Rays course

dude Rays funny

"some fecking indicator crossover"

So you joined the club? Welcome!

Nothing of interest from Boris Schlossberg this week, just an short piece saying you should only use a system (an EA in his case) when the conditions are appropriate for it's trading style. - Duh! Why would you want to use it when it's not appropriate - LOL !

But here is something to reflect upon from Lance Beggs (of YourTradingCoach.com)
30 days to become a better trader:-

Yeah I did thanks! And thanks to Ian.

I won’t be able to get in the room with my current schedule, but the recordings are good enough for me.

Yes, the recordings of the Daily Focus Sessions are great, as are those from Ray's course(e) last year - which are in the Compass Members Area.

Quite often I view the recording even if I was in the live room when Ray was doing it.
It is amazing how much knowledge you can pick up upon 2nd or even a 3rd viewing. That is why we call it 'drinking from the firehose'.

Talking about picking up knowledge, here is what Jennifer E. says turned her trading around (thanks to Ray, she became a fairly successful Macro trader who then discovered that she is a really good scalper):-

*********************************************************************************************************************************
“The tipping point that changed my paradigm, funnily enough, was when he made a side comment about... which leads which? value line or price action? Both can. What a revelation!

That's what helped me finally agree that the market moves from liquidity to liquidity sometimes regardless of news or if value line is lagging price. I finally began thinking like a market maker. I see compressions and I look for liquidity. I see big volume and I mark it for liquidity. I check the high-volume levels in open interest for clues about where I might entice retail traders with my Goldman's sneaky tricks to create liquidity. I prepare my Trading View chart beforehand with all of this laid out before me. And I wait for the rinse & repeat diagram to play out with a dramatic push beyond my levels and I pull the trigger on the top pin. If I'm wrong, I take the scratch and dive in later.

Taking the scratch takes practice because I didn't want to lose money! That's why I started scalping the compressions. Ray recommends scalping to toughen you up mentally. The scratch is now my opportunity for a better position. I rarely get tossed around hoping my stop will hold.

The 50 line is my favorite tool. I constantly scan for it within price action before a trade so I figure out where the trade is going. It is so accurate, I feel like a clairvoyant.

Now I trade for the sheer joy of beating the market maker. And I'm making tons of money while I do it. After 8 years of struggling as a technical trader, not knowing why I was getting played over and over, after taking Ray's class, I know the market maker's secrets and the pips just keep coming.

I also pay for the ongoing live classes so I can get some rest and view them at my convenience. He always teaches something that plays out the following trading sessions. I love his daily tweets and Ian’s self-help Skype chat helps decode some of the abbreviations when I need help.” ~Jennifer
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“To open someone's eyes and mind to the secret truth of something important. A reference to the film The Matrix, in which Neo takes a “Red Pill” to learn the ugly truth about his existence. “Red Pill” means awakening - that's what Morpheus means by Wonderland - life full of meaning in the real world.”

She credits her training with Ray, her “Red Pill” for helping find who she is as a trader, to read the markets properly, to build a narrative before she executes a trade. The same training that helped her make over $58,000.00 on her $20,000 trading account the past 3 months using no more than 1.5% risk.

LOL!
The Market Makers can't kill you, but they can kill your account! However that is NOT their objective since they are overall non-directional.
Only the Directional Institutional, Hedge Fund and Prop traders have the volume to really move a market.
Market Makers are only concerned about finding areas where lots of trading will take place, squaring their books and pocketing the Bid/Offer spread thousands of times per day.

My response to a PM which asks lots of awkward questions:

From: z******** Subject: Ray's Course at CompassFX
--------------------------------------------------------------------------
Hi Ian,

I've been reading your thread, Institutional Level Education?, and I'm interested in joining Ray's course. However, the info in your thread is somewhat outdated and CompassFX seems to have changed their platform.

I don't understand. I don't see my thread as at all outdated. Yes Ray's teaching sty;e has changed a little over the years and as he finds better free/cheap institutional level information/data sources for us he introduces them into his examples, but he is still teaching the same things as he was back in 2014, because many of those things are still as relevant as they were 100yrs ago !
Again, I don't understand what you say about Comp[ass changing their Platform. The Compass webinar rooms are really still Omnovia, just that the company re-branded itself as Webinato. If you mean the charting platform that Ray shows, then NO, he still has the 5 min FX majors shown in the room using the Sierra Chart package 5 the same as on day 1 mack in April 2014. However he teaches the general principles (independent of platform) and then shows examples on whatever platform is most suitable. Oringinally in addition to Sierra Chart he used to show just MT4, a DOM, OFA and NOFT. But in the last 2 years or so ha has also sh=tarted to show examples in BookMap and show 'Value Lines' mainly using Trading View , but also on Investing.com's' 'livecharts' and more recently on Sierra using a package developed by some of his students.
NONE of his students USE ALL THE CHARTING SOFTWARE HE SHOWS! It depends upon how you want to trades and which market*(s) you want to trade. Quite a few are still just using MT4 and Investing.com – which are both completely free. But those trading Order Flow are using OFA, or NOFT, or Jigsaw, or Sierra Chart with the 'OF ten' indicator package (again developed by some of his students in order not to have to use Ninja with either OFA or NOFT).

Btw, I'm a seafarer and am looking at forex to quit my job. It's very stressful here.

I am now getting a feeling that trading may not be right for you. - Unless you love to trade then you should not do it. I am not exaggerating when I say that trading is one of the toughest jobs in the world, topped only by those life or death jobs. The difference is that in trading there is no team – the trader is completely and solely responsible! Indeed trading your own money for a living is, for many, much more difficult than trading for an institution.

I would like to invest in the best knowledge I can find. I'm also through with indicator based systems.

There is no doubt in my mind that Ray's teaching is the most comprehensive and best for learning to trade like the top Institution's best traders. But that doesn't mean that it is right for everybody. There are other fundamentals based teachers and courses out there that may be a better fit for an individual since there is a danger with Ray of trying to master too much too quickly. There are also good courses based upon indicators (such as the MAX).

Would you mind answering a couple of questions?

1. Aside from the course fee, which is around USD 1.5k, what other fees do I need to pay?

Need to pay fees – none.
Depending upon your progress and circumstances , you may want to join Ray's website an private Tweets service ($50 per month), or you might want to have access to the Compass live room, or perhaps just access to the recorded 'daily focus sessions' from the live room . You might want DataFlash, TradingView or the 'Indicator packages' developed for Ray's students.

2. Are the essential tools/platforms/websites that the course recommend to use paid or subscription based? If yes, would you mind disclosing them or even just the total price.

The 'ESSENTIAL tools/platforms/websites' are all free. Ray can trade from a naked price chart without even any volume. Most of the rest of us need more help! No other specific tools, platforms or websites are specifically recommended by Ray. But he does show examples using such as TradingView, OFA, NOFT, Bookmap etc most of the time. I don't know the prices of them all.

 

1. Due to my job, I cannot be online everyday. I have a crappy satellite internet, which only good for browsing. Is it possible to learn using only the saved videos?

Yes it is possible to learn the theory using only the saved videos. But you still need a decent internet connection, And that is only the theory. Obviously unless you are trading the longer timeframes then you need a decent internet connection even for trading a Demo/Practice/Paper account.

1. 4. I know I can also time it during my vacation, but I don't know when the course will start or end. Can you give some details?

Sorry, I don't have any date for the course yet. It not only depends upon Ray's availability but also the date for Kim's husband's hip operation.

 

1. I would like to know how much the whole course is going to cost me, including the testing phase, and if it will even fit my schedule.

Sorry, but it just isn't possible to ever know how much a 'testing phase' will cost somebody else!

I know you are restricted in number of PM's per day since they tagged you "Commercial", even though you are not really selling anything. Can you kindly answer in your thread?

Thanks in advance!


Cheers,

G****

P.S. Please don't mention my name if you will reply in your thread.

---------------------------------------------------------------------------------
To: ianf0ster | From: z**** | Sent: May 7, 2018 10:09pm
---------------------------------------------------------------------------------
Hi Ian,

I have read your reply in your thread. Thanks for the info. Sorry if it's awkward for you.

All the best!


G*****
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Hi Z.,
No need to feel sorry for asking your questions. I can understand why you ask them.
They are only awkward because :-
A). Ray doesn't teach just a single set-up or system - so (as far as we know) even his successful students all trade differently (in trading Style and/or Markets traded and/or Session traded). That is because Ray wants all his students to have all the knowledge they need to be successful and able to adapt to the way the nature of the markets changes over time without his continued input.
B). It is extremely difficult to know which tools another trader will find useful.

Regards,
Ian

It is really nice when somebody appreciates my efforts:
---------------------------------------------------------------------------------------------------------------------------------------------------
Hi Ian,

Thanks for spending time to reply to a total stranger. You seem to be a great guy, and so is Ray. I hope to take his course and also learn from him.

Cheers,

G****

I got a rather different email message from Boris. He mentions an article to read about 'Why winners keep winning' and has 2 main points from it: about 'eliminating bad luck' and 'having a small edge to start with'.
When I read it, the thing that strikes me is a rather different point about 'overtrading'.
Here are his points and a link to the article:

*************************************************************************************************************************************Suggested Reading
by Boris Schlossberg
Too busy for a column this week, so I am suggesting you guys read this piece from Nick Maggiulli:
https://ofdollarsanddata.com/why-win...g-4e7f221f5b84

Its an amazing explanation of how just small edge at the start can make all the difference in the world at the end.
Luck clearly plays a much greater role than we think. But it’s not all bleak for us traders.
Here are my 2 takeaways from this piece.
1. Eliminating “bad luck” (Warren’s Buffett’s first rule of investing “don’t lose money”) is just as important as having good luck -- and may, in fact, be much more controllable.
2. Even if you fail in doing #1, don’t despair. This article shows that you can always get it back. Having just a small edge at the start can set you on a path to success.
************************************************************************************************************************************

The main take away from the article for me is that in some ways trading is like writing. Many experts warn about the dangers of 'overtrading' c.f. having more than one book per year published. But if the quality of the trades are sufficient to meet your criteria, then surely you are only missing out on extra profits by avoiding them on the grounds of not 'overtrading'.
Naturally this approach means that you need to be able to evaluate the potential quality of a trade prior to entry - but if you can't do this then you should not be trading in the first place!

Hi ianf0ster, you have received a new Private Message:

--------------------------------------------------------------------------
From: 1444 Subject: Ray
--------------------------------------------------------------------------
Hi Ian,

Noticed you were online so thought I'd get a quick msg off to you

Basically trying to find more info on Ray but the links on the first page seem to be no longer valid

Could you point me in the right direction, currently happily reading through all posts.

Hope you're having a great weekend!

Thanks in advance

Regards
********************************************************************************************************************************************************************************************************************
Hi 1444,
I'm not sure what you want to know about Ray.
If you want to watch some recorded videos of him then you will find his Platform Familiarisation and Scalping exercise plus other (promotional ) video recordings here:

"[2:55 PM] Ian Foster: I have been asked what I know about the trading style of the lady Kim mentioned in Ray's Live room who (according to Kim) turned a $20K account into a $71K account in less than 3 months this year. If Kim is correct, this lady is none other than our member Jennifer Elliott. And she is just focussed on scalping the heck out of a single currency pair (I don't know if that is using the Spot FX or the Currency Futures). Here is what I have about the original basis of simple scalping (No requirement for Order Flow Software) as taught by Ray. In fact the only video I can quickly find is an 'open to all webinar' one that Ray as a promotion for his last course!
[2:55 PM] Ian Foster: In yesterday's (20th July 2017) webinar Ray gave out more information about how his interns learn to trade including an exercise they use to gain proficiency with their entry orders. He also shared some of the details about how he teaches his retail trader students to trade.A recording of this Webinar and recordings of some of his previous webinars can be found by using the Link and login details as in the post above:
http://compassfx.webinato.com/sharpedge
PASSWORD: macro (No Registration Required)

More general information on Ray:

Ray de Medici is an institutional Quant/Strategist/Trader who is still (fully) employed by a top Japanese Bank.
In his multi decade trading career he has taught many Institutional traders for the top UK and European Banks he has worked for.
He has never been a retail trader or traded on his own account. Institutions don't allow their traders to have a personal trade account (for obvious reasons).

Ray is unique! All other so called bank traders I have come across are A). No longer working for an institution. B). Self taught. C) Usually were Order takers (e.g Sam Seiden) or others who executed customer orders rather than traded a directional 'Prop Desk'. or D). Never actually traded fro an Institution, they merely were in something like IT support and met some of its traders e.g. Mr Swanson et al. Note that at least Eusebio is honest about being in the IT Department of a Bank and not being a trader for them!

In 2013/14 Ray approached several companies in the 'retail trading field' about providing a service to retail traders. He was open as to what the needs of retail traders might be, however he severely overestimated the quality of training and knowledge in the retail space and only CompassFx was interested in him. Every 'expert' they had check him out said something like' He is definitely what he says he is, but we can't understand what he is doing and how he is doing it. His trading is on a completely different level to anything we have seen.'

So Compass teamed him up with one of their most experienced 'retail instructors', contacted all their email list and threw a live free webinar room open for a week to see what their clients thought. I was one who attended and my reaction was that I wanted to learn from him, even though I hardly understood a thing he said!!!
The difficulty in understanding him was that A). He is Scottish and had/has a Scots accent, B). That he kept referring to the Currency Futures markets ( try telling the difference between sexy, 6C and 6E when said fast in a Scots accent). C). That he was telling us his positional changes (after the fact since not allowed to tell us before the Institution got in), but they went against everything us 'retail traders' had been taught because his was institutional trading!

So Compass decided that the best thing to do was to have Ray teach us how to trade 'institutional style'. The first course was in May 2014 and he has been improving his teaching style and content for us retail traders every since.

So do you want to learn from the best?
He has the Best trading knowledge and he is getting better as a teacher now he understand how much garbage retail traders are taught.
He understands that almost all his students would be fired from the desk if they worked for him. But he still makes huge efforts to help us become sucessful traders.
He is still primarily employed as a strategist/quant and to run a trade desk.
He hates marketing, he refuses to dumb down his knowledge for the sake of people who aren't extremely serious/passionate about trading.
He always over-delivers on what he has he will teach.

BUT the knowledge is VAST and it goes against almost everything that retail traders are taught - so it is VERY HARD WORK. You can't absorb it all in just a month or 2 despite the course taking only a few weeks.

I am still just using a small fraction of what he has taught even after 4 years of being his student.

Compass are talking about another of Ray's students having great success.
This guy hasn't even had the opportunity (yet) to be in Ray's live class, so all he knowledge is from:

1). The recordings of the 3 day class and the full class that Ray did last year.
2). Being in Ray'[s live room (as much as he could) for 4 months.
3). Being able to ask questions of members of Ray's Self Help Group.

Having said all that, he was already an experienced retail trader and already knew the value of Fundamentals.

Here is the whole email from Compass (I added colour for emphasis of the most important part of it):

************************************************************************************************************************************
Hello Ian

As we are preparing for our upcoming NEW Institutional Trading Program with Ray, I truly appreciate students taking time to share their stories working with Ray, the exceptional institutional knowledge he teaches and more importantly the progress they are making in their trading.

That’s what is really important, does what he teach actually transform traders?...hear from another student.

THANKS JG for sharing your progress...JG has only been with us since the first of the year!

“I just wanted to provide some feedback on Ray, his training, training room and trading in general.

Firstly, for anyone interested in joining be under no illusions, this is not a quick fix buy/sell system or some kind of magical black box.

This requires hard work and the desire to succeed and learn.

That said, WOW! how one person can have so much in-depth knowledge of all different markets and more importantly what drives them is mind blowing.

Not only that, but Ray's ability to explain the concepts and the passionate way in which he does so has made it easy for me to stay tuned and learn.

Personally, the most demanding aspect has been how to assimilate this information for myself and how to make the most of it. I found it easiest to focus on one type of trade in one market, once I did this I am pleased to report a gain of 95% over the 2 months I have been actively trading.

I realize this is relatively modest compared to some and feel I am only scratching the surface so far.

I can’t recommend Ray highly enough, he's a great guy and an excellent teacher.”
~JG (student)

Now that is another excellent endorsement about Ray’s ability to deliver exceptional knowledge and provide incredible value to his students.

His advice to focus on one strategy and market to build your foundation and confidence is spot on, he is focusing on his process and trading mainly squeezes on the YM in line with the Macro using 2% risk. YES!

Remember last week we shared Jennifer’s story, how after pursuing trading for 8 years she turned the corner and made over $58,000.00 trading the last 3 months...kudos to her!
Ray delivers relevant institutional knowledge, insight and strategies that just blow Retail Trader’s minds.

If you want to skip to the front of the line and get started with EARLY BIRD access click here or email me to get more details, let’s talk about the program and see if it right for you. [email protected]

Why is this so important to you as a trader...he does not hold live classes often and his student traders will tell you he is absolutely the best, the most knowledgeable person they have ever worked with and his understanding of the financial markets makes him the ultimate teacher and trader in the markets.

He is a “quant” that builds trade models for top banks, look up “quants” and you will see they are the most highly paid, highly sought-after traders in the financial markets and in the highest demand...don’t know about you but when you want to compete in the most lucrative and the most competitive business in the world, having the best, perhaps the most knowledgeable trader on the planet to learn the markets from just makes logical sense.

Consistency is the new currency for traders...you know you have to achieve consistency to ever really make it as a trader and Ray gives traders the ability to develop a true edge that fits who they are as a trader, take what resonates to build consistency with your skillsets, abilities and trading account.

How can he do that, because he understands what drives all markets, their nuances and how to have a statistical advantage...he can make advanced analytics simplified, can he predict the future, it sure seems like it, he says, “Nah...just play the probabilities”.

He teaches traders to have conviction...how not to let mixed signals in the markets fool them, the why.

I have absolutely loved watching traders truly flourish and make serious progress in their trading.

There have been so many great stories of traders persevering to reach consistency...we will continue to share more students progress as we get closer, we have shared messages a number of messages and as Sean said...“Ray has really transformed the way I look at things, divergence on value lines, edges, volume are brilliant...Ray is just amazing, there is no other word.”

Bam, you get the message, we could write about trader’s progress for hours...enough said!

One thing that has been extremely fascinating to watch over the years is how no two traders in the group trade the same way and with so many consistent traders it is so impressive that traders are able to really build their own process and edges to trade. POWERFUL.

If you have read this entire post, you can tell I am super excited to be able to bring this opportunity to new students that are very serious about their trading...Ray does not provide the “supposed easy button” that traders are searching for, just the facts and insight to make it happen, reach consistency.

So, if you want to have a deeper understanding of the markets, know what drives the markets and not just learn how to trade but know the WHY behind the trade, join the Sharp Edge Trade Group and let Ray train you to take your trading to the next level.

Knowledge is power...successful people tend to have one thing in common, they continue to learn and if you are serious about trading and you are not afraid of putting in the work this may be just the training you need to finally turn the corner.

Here is a very small sample of what you will learn...

Technicals - the auction process - how to draw levels - price action - deltas - volume range analysis - market profile - two main institutional set ups (fade and liquidity hunt) - order flow analysis - program trades and targets

Forex - global market movers - curves, fundamentals - market maker levels

Index Trading - the ES - market internals - drivers - how to recognize corrections before they happen

Oil and Gold - market drivers - crack spread - relative value trading

Bonds - spreads, outrights and the hunt for the grail, bond and curve logic

Traders say working with Ray is the equivalent to getting a doctorate at a top university in the markets...we all know the value of earning a PhD, it’s time to get yours.

If you are ready to roll up your sleeves and get to work, if you have been waiting for Ray to do another live class don’t waste this opportunity to train with him...you will not regret it.

The markets can frustrate and challenge even the best of traders, you need to bring your a-game. With the current volatility you need insight and proper knowledge to help reduce fear and risk trading.

While we are busy putting things together, the finishing touches to get started...you can take advantage as an EARLY BIRD Student and gain access to our previous class session On-Demand and attend Daily LIVE Sessions ahead of the upcoming NEW Class and get a head start and EXTRA time with Ray.

Previous students have said this is a HUGE Advantage and certainly a smart one thatsaves money but it is the time that is so valuable to the students.

Thanks for reading my message, I am so excited that Ray has agreed to a New Class as I know what this experience and opportunity to train with Ray has done for so many traders...you ready?

“Not going to be easy, but it is going to be worth it.”

If you are interested in getting started early, email me [email protected] or catch me on Skype forexkim to discuss this institutional trade program and see if this is a fit for you and your trading.

What do you need to do to lock in your price and seat for class...ACT NOW

Are you ready to make 2018 as a trader great...let’s get started!

P.S. Not ever heard of Ray...check out videos from the webinars last summer, see the difference.

https://www.compassproptraders.com/blog/

P.P.S. Do you know any hardworking traders that are still struggling for consistency? Share this email. They’ll thank you for it!

I have just read that Hanover (David L.) has quit posting on FF 'forever'. Some followers of his threads seem to find that surprising, but for me the surprising thing was that he posted so much for so long.

The last 8 months must have been really difficult for him, because he had come to the realisation that the vast majority of his coding of MT4 indicators and posting about them was a complete waste of time so far as trading was concerned.

I was really pleased when he first PM'd me and felt happy for him when he joined the Self Help Group, though he hardly posted in our Group Skype or asked questions (so far as I know).

He says that he only trades as a hobby. If so then unless he also just studies trading for fun then Ray would advise him to give up trading altogether since it is very expensive when done as a hobby.

I feel privileged that this thread is one of those he mentioned as being a reason for giving up on the quest for a price action EA, or on purely price action trading.

I hope he has fun with his new 'retired from FF' life.

A discussion of 'information Overload' in Ray's live room just now:
https://gyazo.com/06674db35f2aebad3c203d4c44493e8a

Paul C mean approximately 10% per day, not either winning or losing 10% per day - LOL !

I have had a email from Hanover about my post # 578 above.

I didn't mean to imply that consistently profitable trading using only TA/PA is not possible, after all I do suggest that 'indicator junkies' and those who just want a profit without knowing any Fundamentals go and check out 'The MAX'.

Anyway, here is his response to my post:
**************************************************************************************************************

Ian, this is in response to your post here. Please feel welcome to publish this comment if you wish.

It's true that I'm no longer posting at Forex Factory. However, I haven't quit trading altogether, and your FF thread is one that I continue to follow silently.

The main reason I left Forex Factory was not due to any ineffectiveness of indicators or price action, it was because I became disillusioned with the boorishness and negativity that exists in many of the threads there, and the fact that I was being wrongfully accused of posting for personal and financial gain.

As far as I can recall, I've never stated that it was completely impossible to make money using TA/PA. As an example, back in 2014 I deposited GBP 5,000 in an account with a fund manager who is based in the West Midlands. He uses TA and statistical methods, and has not had a single losing month in the 38 months that I have been with him, an extremely consistent performance (more information here).

My situation is possibly different to a lot of (aspiring) traders. I retired from corporate IT in 2004, and trading is merely one of many hobbies that I have. I trade a small account only, and for the challenge of trying to beat the market, not for any serious money which would be too stressful, and kill the enjoyment for me. I use a combination of FA and TA.

I was a paid student of Jarratt Davis between 2014 and 2017. I terminated my membership because Jarratt was no longer running the webinars himself, and some of the original facilities that I found helpful were no longer available. Personally, I found Jarratt easier to understand than Ray (as Ray's teaching covers a vast number of topics and markets), and also easier to interact with, in terms of personalised Q&A. However, I'm grateful to be part of your skype group, and despite being largely silent I do follow the comments there.

I was very sorry to hear that you have been unwell lately, and I wish you a speedy recovery. Many thanks for everything that you do and contribute to the trading community.

Best wishes from New Zealand,

David
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