Institutional Equivalent Education? | Page 58 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

MultiTerminal Equivalent Required 9 replies

Esignal "Trend Snapback Indicator" equivalent? 1 reply

how do i know the equivalent of the volume and lots 0 replies

CME E-equivalent 0 replies

Being Right and Making Money Are Not Equivalent, by Dr. Van K Tharp 2 replies

Attachments: Institutional Equivalent Education?
Exit Attachments

Institutional Equivalent Education?

  • #1,141
  • Nov 18, 2022 8:24am Nov 18, 2022 8:24am
Quoting rlygangesh
Hi ian watched some of free session of ray , and some old video too. thinking to subscribe ray but i have two doubt 1. ray have lot of material from with long long hours, one don't know where to start 2. one of the user said if you subscribe than there are no path where to start and when finish, no chapter like instructions, you never know when to finish 3. i trade indian market but maximum cocept of ray based upon US
Hi @rlygangesh,
To answer your points:
1. Yes, unlike the vast majority of people out there Ray doesn't teach just one setup or a handful of concepts. He teaches everything he can find that is applicable to retail traders, including the different ways that institutional traders trade (Pit Traders/Locals, Prop Traders, Commercials and Pension Funds etc.). Naturally this is more than any single student can use (at least not at the same time). But it means that any student should be able to pick out a huge amount which is applicable to their own circumstances (personality, skills, resources, interests).
2. Was the person who said there is no path as to where to start a student of Ray? I doubt that very much because the place to start is always the recorded videos from the start of the last official full course. They and all other recorded sessions can be found in the CompassFX members area.
3. You are correct that although the same principles apply to all markets each market has it own character because of the traders who trade it. Ray mainly covers Markets where he knows of good free/cheap trading resources so although he covers S[pot FX, the German DAX index the London FTSE100 index and Brent Crude Oil it is the US markets which are most developed and thus have the most suitable resources. Thus although Ray has students world wide (I'm in the UK, we have many in Europe, Australia, Africa, NZ, Singapore, HK and a few in Russia, China, South America and India), most of us trade Spot FX and the US markets.

Which markets do your trade? The Nifty?, Tea?, Rice?, Gold? The Nifty is greatly affected by trading on the other major Equity Indices : S&P500, DAX30, FTSE100, HK, Nikkei etc. Gold trading in India is greatly affected by the Japanese and the London Gold markets.
  • #1,142
  • Nov 18, 2022 8:34am Nov 18, 2022 8:34am
Sierra Chart users, I was recently sent an invitation to a webinar on charting 'Advanced Order Flow' with Sierra Chart.
Being a Sierra Chart user myself I took a look and although long, and not so very advanced, the webinar was quite good - meaning that Ray would agree with most of what the guy Ross Bishop was saying about things. So persevere in watching it in spite of interruptions from stupid questions.

Here is a link to the recording (which Ross made public): It is 2hrs 43min long (warning his language is coarse and crude)

Inserted Video
  • #1,143
  • Nov 25, 2022 2:01pm Nov 25, 2022 2:01pm
Quoting rlygangesh
Hi ian watched some of free session of ray , and some old video too. thinking to subscribe ray but i have two doubt 1. ray have lot of material from with long long hours, one don't know where to start 2. one of the user said if you subscribe than there are no path where to start and when finish, no chapter like instructions, you never know when to finish 3. i trade indian market but maximum cocept of ray based upon US
The key to Ray's education is to grab just one or two things from it that your brain understands and then build your own system around it.

Focus on things that are NOT lagging indicators. Focus on extreme price levels on higher charts. Focus on things that your brain grasps.

Mix them together and you'll have something that provides an edge for you that no one else will ever understand. But others understanding what you develop doesn't matter. All that matters is you find yourself consistently making pips.
  • #1,144
  • Jan 9, 2023 4:17am Jan 9, 2023 4:17am
Some sense from Boris Schlossberg of BK Forex:
**********************************************************************************************

The Secret to Trading is Not What You Think

AI is hot.

ChatGPT is everywhere and everyone is amazed that computers have suddenly become sentient communication machines rather than just computational workhorses.

That, however, is a mathematical illusion.

As a new book, Power and Prediction https://www.amazon.com/Power-Prediction-Disruptive-Artificial-Intelligence/dp/1647824192 explains - AI is simply the use of very sophisticated statistical methodologies to “guess” what you want and deliver you the correct answer. That’s why ChatGPT strikes many as a kind of an idiot-savant, amazing you with its brilliance one moment and then confounding you with its utter stupidity the next..

“Power and Prediction” explains the basic inner workings of AI and discusses its possible long term economic implications. It is really worth a read, but there is one aspect of AI that is particularly salient to us traders. What AI machines essentially do is to separate prediction from judgment.

As the book's authors point out all decision making is made up of two parts - prediction and judgment. Judgment is simply the weight - or the confidence you give your prediction. My judgment of getting hit by a car crossing on a red light on West End Avenue at 3AM in the morning is 1 in 10,000 against. Same judgment doing the same thing just one street over on Broadway at 3PM during midday rush markedly different. Judgment is the confidence level we assign to making the same prediction in different contexts.

What AI machines do so well is learn from past data to improve their judgment over time. Since machines can do millions of computations per second the feedback loop is very fast and quite efficient. There are many areas of life (especially those where the key inputs are relatively static) where AI now beats humans at decision making because of this dispassionate ability to separate prediction from judgment.

It struck me, reading this book, that the very best traders in the world do the same thing. George Soros is no better at making predictions than you or I. His great protege Stanley Drukenmiller is even worse. If you’ve been around markets long enough you know that Drukenmillers predictions are just like Florida weather. Wait a minute and it changes. Yet both of them are immensely successful because of their judgment not their predictions.

Soros taught Druckenmiller “the art of being a pig” - i.e. the ability to size up when the trade is going your way. Soros’s famous billion dollar GBPUSD trade that broke the Bank of England was simply an exercise in size. Soros made many prior predictions about the demise of the pound within the ERM, but it was only when things started to go his way that he committed to the trade in full. More importantly, Soros didn’t bet the bankroll - just the profits of the fund. By the time the pound trade started to materialize in the fall of that year Soros’s fund had generated a 30% return so he gambled all his winnings on this one bet making him a legend for eternity.

Note however his sense of judgment. Soros only risked his profits, not his equity. Was it risky to bet billions of dollars of his fund’s profits on just one trade? Yes, but it wasn’t reckless because if he lost he would still have capital to trade another day.

This killer instinct to “size up” when things are going well is a common trait amongst good traders. At last year’s Traderfest @anthonycrudele revealed how he achieved his first hundred thousand dollar day in the S&P pit using much the same tactics. He took us step by step through that day and showed how he methodically increased his size as his predictions turned true, risking just his profits as his P/L grew.

I don’t think Anthony would dispute me if I were to say that he was lucky that day in a sense that he was totally in sync with the market flow winning on almost every prediction he made. The difference between him and many other traders is that he was able to leverage his luck through very good judgment. It was a nothing-burger day, Anthony told us, with S&P trading in a lackluster 15 point range, but on that one day all his predictions were working.

Carpe diem.

He seized the day by sizing up.

This ability to go for the jugular is rare and unless you have that type of personality you shouldn’t imitate that method. Many traders are like me - much more scared than they are greedy. I am always more upset about losing money than making it. So my approach to trading is radically different. I use ultra small size and many sample attempts to extract the tiniest profits from the market. I’ve designed my system so I can be wrong five or six times in a row and still walk away positive on the trade. I basically designed a trading strategy employed by term life insurance companies which make money day in day out, week in week out, month in month out, year in year out, decade in decade out. You will never make “hyper growth” profits with AXA or Cigna but those companies have been in business since Napoleonic times so they clearly know a thing or two about how to win in the markets.

I will never ever make a million dollars on a trade. In fact, I will never make more than a few bucks on any trade that I make, but I will never lose a million dollars on trade either. I’ve managed to resolve 594 winning trade positions since October eking steady but modest returns and I am totally okay with that.

Yet another way that successful traders use good judgment is through optionality. At Traderfest my friend @kevinmuir who has interviewed his fair share of great traders told me that some of the best trades he has seen involved long term option positions on what at the time seemed like very low probability events. The master of such a strategy is @LeitnerJim of Falcon Management who bought options to bet that interest rates would go negative, at the time when no one thought that was financially possible. He always buys long duration options that don’t expire in days, weeks or months - but in years. Long duration. Long volatility strategies have two advantages - defined risk with leverage. Many of those bets do not work, but when they do - the payoffs are huge and if you have the patience of Budda like Jim does - that could be the right strategy for you.

Whatever your personality, whatever your risk tolerance AI teaches one very important lesson - to be a good decision maker you need to separate prediction from judgment. What many of us fail to understand is that in trading we express judgment in dollars rather than percent which is why sizing is the single most important aspect of the game.
***************************************************************************************
  • #1,145
  • Jan 31, 2023 4:45am Jan 31, 2023 4:45am
More sense from Boris Schlossberg of BKForex:
*****************************************************************************************

How to Instantly Tell the

George Santos of Trading



Long, long, long time ago I was sitting in the Green Room with a very well known Wall Street currency analyst. He casually tossed out that he never traded with less than a 4:1 risk to reward ratio. Right then and there I knew the guy never placed a real trade in his life.

Let’s just forget the astronomically low odds of success for such a trade and let’s imagine for the sake of the argument that the trade is working. The guy is up 2M on his 1M risk trade. Suddenly the price action starts to pause and hesitate, the 2M dwindles down to 1.25M. The guy stays true to his principles and remains in position. The trade starts working again and now it's up to 2.5M profit - but wait, there is unexpected news on the pair - and now it dips to a -500K loss! The trader is beside himself. He was up 2.5M and now he is down half a mil. Fortunately the markets begin to shrug off the news and the position starts to work again. Now, the moment it's 500K in profit he dumps it all relieved to have eked out a small gain in the end. Bye bye 4:1. That illusion of grandeur exists only in the mind of wannabe traders.

There are plenty of them on Youtube showing you perfectly cherry picked examples of past trade successes where a five pip stop leads to a 500 pip gain - but ask them to make that call on the right edge of the chart and watch them hem and haw and choke on their words.

My favorite bullshit statement on all trading podcasts or YouTube videos is, “I trade with a 2:1 risk ratio and my win rate is 70%.” Ok ,maybe if you make three trades a year I might believe you. But if you make more than 100 trades with that payout ratio there is zero chance that this claim is true.

Let’s just do the math. I have a $10,000 account. I risk $1,000 to make $2,000 and I do it 100 times over a course of a month winning 70% of my trades. That means at the end of the month my $10,000 account is now worth $110,000. Let’s just say that I don’t even scale up or compound and just keep doing this for the rest of the year. By the end of the year my $10,000 account is now worth more than 1.3M. Uncompounded. As we say in New York - “Get the f- outta here!”

The truth is that the market does not hand out two dollar bills for every dollar you bet. My partner @kathylienfx has one of the best win rates I know averaging just a. bit over 70% but she always trades with negative risk to reward ratio - otherwise she would be clipped out of her trades by the retrace action constantly.

The point is that trading like every efficient market out there operates on very thin margins. You can either have a very high win rate with a negative risk to reward ratio or a very very low win rate with a positive risk to reward ratio.

My favorite lie in the market is “If I trade with a 2:1 risk to reward ratio, I just need to be right 50% of the time to win!” That sounds so good and yet it is literally the biggest lie ever told. As Tom Sosnoff the founder of thinkorswim and @tastytrade taught me - the first lie in trading is that any trade at any given time is a 50/50 bet. Tom, who for years was a successful market maker on the CBOE knew better than anyone that the market, especially on an intraday basis, is just a giant poker game in which everyone is trying to bluff you out of your money. Naive academics and wide eyed retail traders may believe every trade is just a toss up, but Tom actually thought the odds were closer to 25% for 75% against. That’s so many newbie traders wind up buying the top and selling the bottom - prices lie all the time. It’s also why if you take any algo driven back test and test it long enough (1000 trade samples at least) you will almost always see a 25% or worse payoff for a 2:1 bet. A far cry from the YouTube promises you hear every day.

Santos is a two bit conman and if you voted for him, the mistake is unlikely to cost you much. He is just a politician after all and although we all like to argue politics all the time, the fortunate thing about America (unlike in my former homeland of Russia) is that politics does not impact much of our day to day life. The many George Santos’ of YouTube however, are a whole nother matter. Their advice is almost dangerous to your net worth. So beware.

***********************************************************************************************
  • #1,146
  • Feb 6, 2023 5:43am Feb 6, 2023 5:43am
For some strange reason Boris Schlossberg (of BK Forex) is emailing out a lot more sense these days. Here is another one:

*********************************************************************************

Yes I CAN'T


I have a great trading strategy. It can trade indices. It can trade FX. It can trade gold and oil. It can trade short term. It can trade long term.

And that is exactly the problem.

If I wanted to, I could trade it on CFDs in my chat room. I could trade it on futures in my IRA account. I could trade it in my personal forex account. I could even trade it in my long dormant thinkorswim options account.

There is just one thing. I am absolutely terrible at multitasking. My partner Kathy can lay on five trades before the sun rises, make her kids breakfast, scan the early morning market headlines and come up with a perfectly cogent trading plan for the day. I can’t do any of that.

I am good at doing only one thing at a time. One trade. One instrument. One activity. I have a very monomaniacal mindset that performs all tasks in a serial order. I simply can’t bifurcate my attention span into multiple directions.

So last week I decided that it doesn’t matter that my strategy works on FX or that I could pick up extra profits trading ES on the side or that I could even construct my algo so that it would trade multi-asset instruments in near fully automated fashion. It doesn’t matter that I could do all those things in theory, because I know that in practice it would all become an abject failure.

Instead of focusing on the next CFD trade in US30 my attention would be taken up by some random EURJPY trade that wasn’t resolving properly or an ES position that never executed at the ask forcing me to play fire rescue with my accounts for the rest of day.

The markets are simple but never easy and the more I diffuse my attention span the more mistakes I will make. That’s just the nature of the game. In the market, the more moving parts in your portfolio the greater the chance of something going wrong.

So I made an executive decision. From now on, just CFDs in my chat room. No more f-ing around with side bets. Steve Jobs once said that focus is the art of saying no. He wasn’t talking about trading, but he may as well have been.

In the market we are constantly tempted by the many lures of money. That is why all financial markets resemble a casino. Bored of blackjack? Try baccarat. Oh - and here is a
pretty waitress to give you a free drink. Selling strangles not working out? Never mind - let's trade this new breakout algo - it made 500% last month!

Like Odysseus we are all constantly seduced by the siren song of profit. And like Odysseus we must all learn how to strap ourselves to the masts of our personality in order to survive the passage.

Trading is the perpetual search of who is in control of price, but if we can’t get control of ourselves the journey is doomed from the start.

In the end, it's always more profitable to make a smaller amount of money in one highly refined setup the to chase ten lottery tickets all of whom are likely to miss the payout.
****************************************************************************************************************
  • #1,147
  • Mar 19, 2023 11:51am Mar 19, 2023 11:51am
In the markets as in life, things always change (eventually and often when you are not expecting it. Take the correlation between Bonds and Equities for example.
Here is yet another sensible email from Boris Schlossberg (of BK Forex):

*************************************************************************************
This is Why All Systems Lose in the End

Is there a bigger game of mental masturbation in finance than our collective obsession with the perpetual money machine? The single greatest lie in the markets is that we can just create a 24/7 trading algo that will print money for us the way the Fed prints credit.

It doesn't matter if you are an MIT finance professor like Andrew Lo, a multibillion dollar fund like AQR or just a regular joe schmoe with a simple moving average MetaTrader EA, real life markets will always decimate whatever well crafted piece of statistical wizardry you’ve created. Don’t take my word for it. Just look at long term records of these systems - not the beautifully curated, irrefutably argued backtests - but the actual real life performance and you quickly realize that a stack of T-bills would have done a better job and cash under the mattress wouldn’t have done much worse.

The latest darling to fall victim to the harsh bitch slap of life is the Dual Momentum strategy - which I must admit I really liked on intellectual grounds - but as Michael Harris in @priceactionlab notes, this super-duper-much-better-than-the-index approach got absolutely pulverized over the past eight years as the correlation between stock and bonds went from negative to positive.

Why do all systems fail in the end? Because we are always focusing on the wrong problem. As system creators all of us - and no one more guilty of this than yours truly - obsess over every minor detail of the how. Is the time range correct? Should we use a VWAP filter? Can we go 10 million years in the past to show how well it worked in the The Pleistocene Epoch?

You get the idea.

But here is the dirty little secret of system trading. The “how” doesn’t matter. Well it matters a bit, but just a little bit. All real market success of system trading depends on “when” not “how”. The truth of the matter is that there is no system in the world that will not be destroyed by some mutation of the market regime that will appear in the future. And it doesn’t matter if you trade on the minute chart or never look at your investments for decades. Think buy and hold is sacrosanct? Ask a Tokyo bag holder who bought the NIkkei at 38,957.44 and is still under water by more than 10,000 points thirty plus years later. As John Maynard Keyens - one of the greatest investors that ever lived - once quipped, “In the long run we are all dead.”

In the BK chat room we trade on the one minute chart, which certainly can seem overwhelming to some but the upside is that we get feedback very quickly and fail fast. Nothing has made a bigger impact on our P/L then when I learned to turn the algo OFF. The system trades the rules that have been in place for years, except now the algo goes to sleep for large swaths of the global day - and guess what? Unlike in real life, doing nothing in the markets is actually a lot more profitable.

Please note that I am not arguing that simply turning a system on or off will solve all of the profitability problems. Trading will always remain an art as much as a science because volatility and correlations (just a fancy way of saying people’s reaction to the news) will be different going forward than they were in the past. But here is what I know for sure. There is no good trading system. There is only a trading system good for its time. It’s never really about the how. A simple straight line on the chart is as good as a multivariate function. It’s always a matter of “when”, so take all the magic money machine claims with a barrel of salt. In the end they are always a lie.

*******************************************************************************************************************
  • #1,148
  • Edited 2:30pm Apr 8, 2023 1:20pm | Edited 2:30pm
Quoting ianf0ster
For some strange reason Boris Schlossberg (of BK Forex) is emailing out a lot more sense these days. Here is another one: ********************************************************************************* Yes I CAN'T I have a great trading strategy. It can trade indices. It can trade FX. It can trade gold and oil. It can trade short term. It can trade long term. And that is exactly the problem. If I wanted to, I could trade it on CFDs in my chat room. I could trade it on futures in my IRA account. I could trade it in my personal forex account. I...
Oh, this is so true. When I've started with trading, I was tempted to trade every possible product on the market. Now, after ~10 years on the retail floor I know it's not possible, and moreover, it's not required. I choose oil, based on Ray's teaching. And in the end, after 3 years of watching over the Ray's shoulder, I realized that I can even trade easily some forex pairs based on Crack Spread Skew. Unbelievable.
  • #1,149
  • Apr 24, 2023 4:07am Apr 24, 2023 4:07am
RIP Eusebio !

Sad news from people at The MAX, Eusebio Nanni teacher, perpetual student of trading and retail trader extraordinaire has passed away.

Eusebio died in his sleep, in his home town hospital in Metz, France from complications due to Pancreatic Cancer, just before midnight French time yesterday (NY 6am). One of his close friends was with him.

He was an online friend to many, an extremely patient teacher and a great trader. He was always curious of the flow of the markets. For him every Friday was always payday when he would withdraw some profits from his main account. At least before his heart bypass he had the stamina and tenacity to trade for extreme lengths of time so long as conditions were still good he would hunt down the last pip in a trend.
He was one of a kind!
  • #1,150
  • Apr 24, 2023 10:56pm Apr 24, 2023 10:56pm
Quoting ianf0ster
RIP Eusebio ! Sad news from people at The MAX, Eusebio Nanni teacher, perpetual student of trading and retail trader extraordinaire has passed away. Eusebio died in his sleep, in his home town hospital in Metz, France from complications due to Pancreatic Cancer, just before midnight French time yesterday (NY 6am). One of his close friends was with him. He was an online friend to many, an extremely patient teacher and a great trader. He was always curious of the flow of the markets. For him every Friday was always payday when he would withdraw some...
Hi there Ian. Terrible news. May he rest in peace. He is a brilliant trader of moonshot trades.
  • #1,151
  • May 15, 2023 8:30am May 15, 2023 8:30am
An unpopular (but true) viewpoint from Boris Schlossberg of BK Forex:

*****************************************************************************************************************************
Test Everything?
There is a wonderful scene in Ted Lasso where Ted hustles the club’s snooty owner at a game of darts. The clip is all over TikTok so I recommend you find it, but the gist of it is that the arrogant owner thinks a dumb American like Lasso couldn’t possibly be any good at darts and proceeds to lose a major bet to Ted who it turns out is somewhat of a darts shark due to his early childhood days of spending Saturdays playing the game in a bar with his Dad.


During the soliloquy Ted launches into a monologue about a Walt Whitman quote about the need to be curious rather than judgemental. That’s a great sentiment by Whitman and I thought about it the other day when I passed a man on Broadway with the following text emblazoned on his T-shirt, “Test everything, results matter.” The man was clearly an engineer and on the face of it the statement was highly laudable. After all if you are building a skyscraper you definitely do want to to test everything to make sure that the structure is sound.

But when it comes to trading that type of judgemental thinking will ruin you. How many back tested systems succeed in real life? Let me save you the trouble of guessing. Zero. Yes, exactly zero backtests will make money in real life going forward. There is no doubt that some of them may make money for a little while, some may do so for a matter of years but eventually all backtested systems fail.

In Jack Schwager’s book Unknown Market Wizards he interviews Marsten Parker a systems trader who managed to compound an astounding 58% for 30+ years running yet in matter of months Parker nearly wiped out all his life’s earnings when the market regime turned horribly against him and all his back tested strategies turned sour at once.

I have always believed that there is no backtested system that I could not destroy in five minutes flat by simply changing the market regime going forwards. Have a breakout strategy? I’ll just put you into an endless loop of false breaks until you are either out of money or forced to bet so small that it becomes meaningless. Silver had 17 false breakouts at one time and it's still basically a shell of its former self from the heydays of 1970s and 1980s. Want to trade trends? Good luck to you if you find yourself in the years 1966 through 1982 when the Dow hit 1000 so many times and fell that most investors were convinced stocks were dead forever - thus the famous Business Week cover. Ah but perhaps you like mean reversion well then have a ball shorting Internet stocks during the dot com bubble. You would be margined out in one day.

Backtests in trading are truly the biggest waste of time. They prejudice you in two ways. They make you believe that what you’ve just tested on past prices will work forward or - and this is even worse in my opinion - they make you dismiss some strategy ideas because they performed poorly in the past when in fact they may be the perfect fit for the upcoming future.

In either case the human need for verified tested, sanitized results of market performance is truly one of the colossal mistakes of human arrogance in which we constantly conflate the repeatable, replicable and highly stable results of the physical universe with the utterly unpredictable, fanciful and illogical aspects of human behavior.
The engineer’s slogan of Test Everything is 100% applicable to the world of nuclear reactors. Nuclear reactors of the 2050s will be exactly the same as the nuclear reactors of the 1950s if not in degree but certainly in kind as the principles of nuclear fusion will not change. But market principles change all the time. Stocks can trade at 25 times earnings if investors think rates will decline or they can trade at 5 times earnings if they think rates will rise. Earnings themselves may not matter at all because trading is a game of expectations rather than reality and if expectations change deeply enough they can change reality. Trading does not comply with the inviolable laws of nature but rather with the artificial social constructs that we create every day.

That’s why when it comes to trading the slogan needs to change from Test Everything to Try Everything, because you never know. You never know what you may see in real time market action that could help you tweak your strategy to the current market environment. You never know how a particular idea you had could morph into something new and wonderful that you would have never found in a back test. You may even discover that some of your best trading setups like Viagra are a completely accidental find. It has certainly happened to me. A trend trading strategy I worked on was a perpetual loser, but when I applied it to news trading it became a near infallible winner.

Don’t test everything, try everything. Marsten Parker eventually turned it around, by scrapping all his old ideas and finding new market systems to trade. He is back to making money now because he learned that profits are made forward not backward. So next time someone shows you a beautiful 45 degree equity curve, project it forward to its most likely destination - zero.
***********************************************************************************************************************************
  • #1,152
  • Jun 25, 2023 5:53pm Jun 25, 2023 5:53pm
It's always a long time between Ray's courses.
Here is a free day with subsequent days at a discount:

“The Art of Scalping” Live Trade Event with Ray
Monday June 26th at 3:00 PM EASTERN
Scalping Class Preview – CompassFX
https://compassfx.com/new-scalping-e...class-preview/
  • #1,153
  • Jun 28, 2023 10:32pm Jun 28, 2023 10:32pm
Quoting ianf0ster
It's always a long time between Ray's courses. Here is a free day with subsequent days at a discount: “The Art of Scalping” Live Trade Event with Ray Monday June 26th at 3:00 PM EASTERN Scalping Class Preview – CompassFX https://compassfx.com/new-scalping-e...class-preview/
Hi Ian,

This was promoted on the 26th a day before the event. I found out about it on the 28th. The website says it is over but the youtube link is different. Kim in the video says the sessions are recorded but not if they are lifetime or not. Also, do you know if they cover the value lines as shown in the first free video?
  • #1,154
  • Edited Jul 4, 2023 5:51am Jul 3, 2023 6:42pm | Edited Jul 4, 2023 5:51am
Quoting CashBox
{quote} The key to Ray's education is to grab just one or two things from it that your brain understands and then build your own system around it. Focus on things that are NOT lagging indicators. Focus on extreme price levels on higher charts. Focus on things that your brain grasps. Mix them together and you'll have something that provides an edge for you that no one else will ever understand. But others understanding what you develop doesn't matter. All that matters is you find yourself consistently making pips.

This. 100% agree.
Those who can trade micro/orderflow stuff using Rays correlations and other datas ... hats off to you.
If you can apply it in real time? You are incredible and must have an IQ of 160+.
Personally, I have an average IQ and I cannot see these correlations/skews/calendars etc in real time.
Also im not quick enough at discount levels so commisions on the micro become an issue as I would often lose that discount needed.

Trying to read multiple datas and markets (which also have non directional abs/exh times) to get a take on ES, whilst trading 15sec auctions??
I found impossible. The only things I have seen to be 100% consistent are fb/full auctions (risk)level discounts (entry) and weak liquuidity (targets)

I traded US close for the last 2 years using auctions and I would be in profit 80% of the time, however 1/2 of those were just break even days AND it never felt comfortable, even on a winning day. It was like a sport. You couldnt turn up tired or not in the right mind. Everyday was a battle. The winning days were split between dominating and gettting out of jail. The losing days would be disasters. IMO at the micro level (10 sec/1m/even 5m auctions) the powers that be can manipulate. This is the problem. NOT to mention commissions.
FFS the commissions had me buying top edges/selling bottom edges sometimes. Not good.

When its a high manipulation session (ie. banks abs/exh) its a mess as MICRO volume levels / full auctions / finished business do not mean a thing.

However 15m+ auctions? Its a dream. Of course now Im not trading 1-2 hours a day, its being around the house / computer for 12-14 hours and before setting triggers before bed. BUT I am very confident with that as the auctions/levels/ds and liquidiy targets are so obvious.
Commisions are no longer an issue as they become miniscule and getting contracts on and off is not a worry. AND In the long run contract size could be anything.
Yes RISK is larger and you need more $$$ to make decent money, but, the confidence in auctions are so much better.
No more boxing on with market makers and god knows what.

Just my two cents and how trading has been for me. As stated each to their own. Hope this helps someone.
If you can do what Ray does on that micro value scale ... bloody awesome. BUT for the rest of us with average IQs and fomo? ... lol I recommend larger auctions and to play the simple full auction v weak liquidity targets game.
  • #1,155
  • Jul 6, 2023 11:33am Jul 6, 2023 11:33am
Quoting FocusWinReal
{quote} Hi Ian, This was promoted on the 26th a day before the event. I found out about it on the 28th. The website says it is over but the youtube link is different. Kim in the video says the sessions are recorded but not if they are lifetime or not. Also, do you know if they cover the value lines as shown in the first free video?
I am independent from CompassFX, so I only know what they decide to tell me.

The Scalping Course was just a shorter (cheaper) self contained intro to what Ray teaches., so yes it is back to his usual Full Course again now. They may not be marketing that because if somebody wasn't interested in the 1 week on Scalping, they are unlikely to be interested in his full course. Which is a real 'PhD in Trading' style thing on every way its possible for a Retail trader to trade like an institution while using Retail level resources. And thus is much longer an more expensive as well as being a big time commitment from the student.
The usual situation with these short 'taster' classes is that if somebody takes them, then they get the cost discounted against the Full Course.

However certainly the intention was to record the Scalping Session webinars plus the one where David Tough talks about some of the specialised indicators he has developed using Ray's input.
This is the first separate Class they have done using this Particular hosting platform, so I know there were some hiccups with showing slides (but not with screen sharing - which is all the things that Ray does).

I suggest you contact Kim yourself to get comprehensive answers to your questions. Even after 8 yrs of following Ray I still learned some more from Ray's Scalping training sessions. Contact her through their website, by email ([email protected]) or Skype ForexKim .

P.S. I think their Marketing is crazily short notice, but that's the way they always seem to do it. Personally I like to plan at least a week ahead myself, but as I said I'm only somebody who helps out by running a group for their full course students (for free) in order to make our collective learning experiences better so that we all grow as traders as a whole group (at least those who are serious and prepared to work at it do).

Quoting Cools81
{quote} This. 100% agree. Those who can trade micro/orderflow stuff using Rays correlations and other datas ... hats off to you. If you can apply it in real time? You are incredible and must have an IQ of 160+. Personally, I have an average IQ and I cannot see these correlations/skews/calendars etc in real time.
It just takes a lot of practice. If you are fast enough to trade a 1 mon chart, then you can be fast enough to trade using the Order Flow that Ray teaches.

Quoting Cools81
{quote}
Also im not quick enough at discount levels so commisions on the micro become an issue as I would often lose that discount needed. Trying to read multiple datas and markets (which also have non directional abs/exh times) to get a take on ES, whilst trading 15sec auctions?? I found impossible.
Me too!

Quoting Cools81
{quote}
The only things I have seen to be 100% consistent are fb/full auctions (risk)level discounts (entry) and weak liquuidity (targets) I traded US close for the last 2 years using auctions and I would be in profit 80% of the time, however 1/2 of those were just break even days AND it never felt comfortable, even on a winning day. It was like a sport. You couldnt turn up tired or not in the right mind. Everyday was a battle. The winning days were split between dominating and gettting out of jail. The losing days would be disasters. IMO at the...
Interesting, you see I couldn't do that:
A). I would get bored stiff using a 15min trading timeframe - 1min to 5 mins is much more comfortable for me, but even then I have to choose a market that moves at the right speed for me. Which varies from day to day depending upon fundamental drivers.
B). My timezone means that I can't set a trade and go to bed because it would be active over the close when the Day Margins turn into Full Margins

Each trader needs to find what works for them, and fortunately Ray teaches how to trade a multitude of combinations of different techniques, timeframes and markets. But unfortunately Ray teaches how to trade a multitude of combinations of different techniques, timeframes and markets - so it can make the traders choices almost too large.
  • #1,156
  • Jul 7, 2023 10:12am Jul 7, 2023 10:12am
Quoting ianf0ster
{quote} I am independent from CompassFX, so I only know what they decide to tell me. The Scalping Course was just a shorter (cheaper) self contained intro to what Ray teaches., so yes it is back to his usual Full Course again now. They may not be marketing that because if somebody wasn't interested in the 1 week on Scalping, they are unlikely to be interested in his full course. Which is a real 'PhD in Trading' style thing on every way its possible for a Retail trader to trade like an institution while using Retail level resources. And thus is much...
No worries thanks Ian.
  • #1,157
  • Jul 10, 2023 7:08am Jul 10, 2023 7:08am
@ Ian
Is there a consistent value line you use that leads everytime for ES? or any market? Would be the dream. If Ray is showing that these days ill get the course again. lol.

Are you making consistent money day trading?
How many contracts have you found you can consistently get on without issues?

re trading 15m-1hour auctions … When I enter a trade around opens im checking on the hour. Suits me ok. I have “close position at set time” using Sierra charts so all positions closed automatically before full margins. Im seeing a lot of good discount entries london open / lunch and USA is where they smash it to target usually. Anyway only had consistent success for a few months on small account yet so we’ll see. But it is definitely the most confident ive ever been. Rays teachings from 2014/2015 is basically what im doing. That and years of experience.
  • #1,158
  • Jul 10, 2023 12:37pm Jul 10, 2023 12:37pm
No, there isn't a value line which consistently leads in any market. - If there was that market would soon no longer exist because there have to be loosing traders in large enough quantities for the others to make profits!
  • #1,159
  • Aug 18, 2023 8:05pm Aug 18, 2023 8:05pm
Boys and girls. Update since join in 2019.

Ian was 100% right - Ray is an amazing teacher. Since joining Ray's trading course in 2019, I've been blown away by his knowledge.

Ray teaches you to really understand the whole market, not just simple strategies. His way of explaining complex stuff like bonds, forex, oil etc and how they connect is awesome.

I used to be confused looking at charts. Now I'm starting to see the story behind the charts, like how institutions move prices. Ray opens your eyes to things you can't learn anywhere else.

Of course you gotta work hard over months to get it. Ray's stuff is challenging! But if you stick with him, your trading will go to the next level. Ian was right, Ray is the real deal. If you can take his course, do it!
  • #1,160
  • Aug 29, 2023 5:24am Aug 29, 2023 5:24am
An email from CompassFX:

IMPORTANT LIVE SESSION WITH RAY, SAVE THE DATE!
You’re Invited...Bring Your Friends too!
FREE “Intern to Pro” Live Event Wednesday August 30th at 3:00 PM EASTERN
https://ecp.yusercontent.com/mail?ur...IzHJgV4obQ--~D
It’s Happening...Yes, It Really Is!
Ray’s introducing the highly anticipated New Institutional Trade Log for Traders.
And, simple, systematic rule-based trade strategies to accelerate your trading.
Live Event Wednesday August 30th at 3:00 PM EASTERN with Ray
PLEASE SHARE THIS MESSAGE, ALL TRADERS INVITED!
Here’s a Sneak Peak, true institutional insight for your trading.
https://ecp.yusercontent.com/mail?ur...KWMnynNRhA--~D
Simple clean and easy charting and a trade log helping keep you on track
https://ecp.yusercontent.com/mail?ur...oJYKNHsTiQ--~D
Times are London, Date is Friday 25th August 2023, look back at your charts and see if knowing about these dispersion hedges could have benefited your selection of trade reversals, then using the basics of orderflow and structure to fine tune your entry to find the exact entry price like the example below.
We’re super excited, I know this is going to be a Game-Changer for Traders.
Be ready to get on your charts, you know Ray doesn’t mess about, no fluff...LIVE WEDNESDAY!
I twisted Ray’s arm, please help me fill up the room
MARK YOUR CALENDAR...SPREAD THE WORD
Thank you so much, see you in session!

https://ecp.yusercontent.com/mail?ur...YNWFNZgpyQ--~D
Trade with the best!
2 traders viewing now