Ichimoku forever

Yupps but they dont know the rules yet ... not sure how many would want to stay around when they know the rules

tradingrules or obligations?

waitin for ur email

Oh Asher what you want to do mate
are you want to scare them
do not worry after this post you already did

Best regards,
Mohamed Abdelrahman - Ichimoku EgyTrader

I believe the serious ones would not be scared by the rules. Trading successfully requires hard work and anyone who is not willing to do that might as well put it off.

llllloooollllll let them say yes first, then only you tell them the rules, after that no more turning back and regret llllloooolllll

am normally dont post in this thread during weekend but this time am really really having fun

This is what happened when am having fun (just can't stop laughing like this newscaster)



p/s btw am strongly recommend ichi traders to join this turtle group. this is the time you'll learn and be guided by ichi expert

Hi Asher,
I have been following your blog since last year and i have learnt a lot from your ichimoku analysis.

I am very interested in your Turtle group. As i am a junior member in this forum, i can't send you a private email. is there an alternative way to email you. Thanks

This is one of my post from last year I thought this might be of interest to everyone here as I'm sure guys here are serious about Forex and making it their full time business ...


Rickos, a friend from another Forum has posted an extremely interesting article published by CNBC. Market coach Doug Hirschhorn, PhD, discusses the six reasons some traders will never make money. While there are a lot of traders out there, many of them don’t make any money. Well, it’s time for a wake-up call folks. Here are six reasons why you do not — and may not ever — make money as a trader:

I’ve highlighted few words with Red Color and Bold, underlined fonts, these are the areas where I’ve tried to provide my input on this topic

 

1. You don’t put in the proper amount of effort. You don’t put in the full-time commitment it requires to be profitable in trading because you treat it like a hobby. Trading is not a part-time job. It’s serious business.
2. Failure to be disciplined and consistent with your process. There’s no excuse for this. It’s all up to you.
3. Trading like a gambler instead of a trader. You’re taking irresponsible risks rather than thinking in terms of probabilities and trading when you have an edge.
4. Actually putting on trades without a solid game plan. What are you thinking? You must know your game plan and execute it.
5. You over think things. Trading is a simple game — up, down, sideways. Keep it simple and make money.
6. Not trusting yourself to do what you know you need to do. You spend too much time listening to other people. Trust yourself and execute what you know.

The good news: every one of these things is entirely in your control. All you have to do is choose to make things happen.

Here is the Link to the Original CNBC Article

This is one of my post from last year I thought this might be of interest to everyone here as I'm sure guys here are serious about Forex and making it their full time business ...


I’ve been thinking about my previous post Article: Why You May Never Make Money as a Trader and I thought I would share some interesting things I’ve come to realize.

Lets sum-up the whole article in a single word and that is ATTITUDE

You’re guaranteed to make absolutely NO money EVER in your life from Forex Trading if you see yourself in the following list:


1. Friend one: A Long time friend, cool guy, fun to spend time with but with the least amount of dedication. We were like best buddies during the Uni days and then lost touch since I moved to Germany and he took up a job in an Oil wealthy Middle East city. I got back in touch with him almost a couple of years back through Facebook and of course we were both happy to see each other after almost 10 years.


One fine morning, he came online on MSN and asked me how can he get into forex Trading. I’ve a Zero hiding policy about this topic and of course I was more than happy to give him the basics into what he needs to download (MT4 for example), what is a Forex Pair, what is a Pip, how much money and what Brokers and so on. He took almost an hour on all this and our chat ended up with the following message:


“Great http://www.ichi360.com/wp-includes/i...icon_smile.gif , I’ll look into this but you know I’m going for vacations next month and will be back after spending a month overseas. I’ll then download this software and look into this”

Conclusion: He will never ever make money in Forex. The market wants you to Respect it and show strong commitment. If you need a couple of months to download MT4, you better focus on other things in life IMO.

2. Friend Two: Another sweetheart http://www.ichi360.com/wp-includes/i...icon_smile.gif lovely guy to be called as a True Friend. Did the same thing one day on MSN Chat. Asked the same questions for example “How can I get into Forex and can I make money”. I gave him the basics once again but we ended up with the following conversations:


“What you’re saying looks really good and you know I need to make extra money in life, who knows better than you http://www.ichi360.com/wp-includes/i...icon_smile.gif but listen mate, I’m concerned that what happens if I lose money”

Conclusion: Stop, make a U-Turn and drive back to home. This is too dangerous for someone like you. If you cant see yourself losing money before you actually start Earning it then you’re missing the whole point here. You get what you ask (or perhaps “Think”) for. If you keep thinking about Losing, you’ll lose money, if you keep thinking about winning, you’ll Win money from this market.

3. Friend Three: Another lovely person, great Businessman throughout his life, worked with few top Business Icons in past. Likes to trade in Share Market and lost a big chunk in last couple of years as he invested in companies which were like over-bought and just after him buying shares, we had the Oct-08 Reversal of market. Now his portfolio has reduced to almost 50% and waiting anxiously for the Rebound.


He likes the idea of Day-Trading, he decided to visit me for a weekend to learn few basics. Spent the whole weekend and he has yet to Download the MT4 (its been 8 months now) and once he has downloaded then he (according to him) will call me again to ask how to place Moving Averages on chart.

Conclusion: Day Trading and 8 Months, huge gap. Can we talk about something else please, how is the weather out there my friend http://www.ichi360.com/wp-includes/i...icon_smile.gif

4. Friend of a friend: Last night, we had some guests here at my family house in Dubai (I’m here on holidays these days). They brought a friend of them to meet me as he is interested to get into Forex. He already has basic knowledge and is looking for a strategy which can generate money for him.
I suggested Demo Trading for at least 6 months before start putting your real money. This was the most stupid and outrageous idea he had ever come across in his life. How can one spend his precious 6 months into Demo Trading and NOT make real money for 6 months. I’m sure he must have even formed doubts in his mind about my intentions to be helpful and he might have come to a conclusion that I certainly know some tricks which I’m actually hiding from him.

Conclusion: You’ll never make money, once again Respect the market. Its certainly a bigger monster than you and its TIME has certainly more worth than yours.

5. A Co-worker: One of those guys in your office, who think they know more than you, more than the other guys, more than Bosses, more than our customers and http://www.ichi360.com/wp-includes/i...icon_smile.gif Ok, more than everyone else, in short. He grabbed me one day during lunch time and asked whats all this fuss about Forex market these days. During conversation, we slipped into topics like Fibonacci, Golden Ratio and Elliott Wave concepts.


He kept looking at me as he could look at someone as one of the most stupid guys he has seen in more than a month time. In the end he says “Who has TIME to do all these calculations of 61.8% then wave up, wave down ?”

Conclusion: No comments from my side, just some more information on this guy. He owns hundreds of Wii and X-Box games and usually ends up buying / borrowing the latest Games on the same (or next by max) day the game is released. His favourite weak-end activity is Fishing.

is there aby ideas on the eu for this week ?

or other pairs ????

Brilliant insight and great reading, I have been demoing forex for 14 months now and I have never opened a Live account, I agree with you have to put the time in to get something back, I will continue to demo until I am making profit month on month, then and only then will I go live

thats the way bro

My suggested rule:

1. Demo on multiple accounts and blow them to the zero level
2. Finally when things start making sense to you, try becoming organized and challenge yourself to double at least 3 Demo Accounts
3. However the above (point 2) should not be done with a Gambling approach, this must be done with a proper Money Management and Risk Management strategy ... standard is Never risk more than 2% of your account size on one single trade
4. Once you've been able to double 3 Demo accounts, open a live account with max of 1000$ and start trading Micro Lots
5. Prove yourself by converting that account from 1000$ to 5000$
6. If you've further 5000$ spare cash then add that to your Live account for Trading Mini Lots or other wise just keep trading on Micro Lots
7. with 10k account and max 2% MM / RM strategy ... challenge yourself to reach to atleast 25k
8. When you reach 25k, increase the number of Mini lots that your 2%RM strategy allows
9.With 2% RM / MM you would not be able to move to Standrad Lots until your account size is at least 80k+
10. You account has reached to 80k ? Congratulations, you're a Pro Trader now. Go and talk to your boss about your next intentions.

Sounds like a Crazy's person's dream ??? trust yourself and you'll see yourself in that Pro Trader.

Still interested in Turltes idea ???? who is in and who has changed mind ?

I'm still interested of being a member of your turtle-group. I think the mentioned things in your last few posts are the standard requirements for being a successful trader, than we can make it to business!

Great work Asher!

yes. still in.
like to see success in this venture.

I am still in

Thanks asher, Im still interested in turtles too

Hi Asher,

I have been trading for 3 years and only stsrted making money consistently october last year applying most of the rules you outlined.

My greatest teacher has been the market, as it has instill discipline in my trading considering the amount of money i have lost due me not having a plan and keeping to my trading rules.

So my friend i am very much in, as i want to become a PRO trader

I'm still up for it.

I feel motivated about this, just like when I started working out which resulted in losing 30 kgs - about 1/4 of my original body weight. The ride was often painful, but I saw value in the small increments in achievement from week to week. I just kept on going to reach the long term goal.

Hi,
still in,but what happens if I didn't manage to blow off my demo accounts? I did manage to whipe out 90% of one of them at my very beginning while trading as a monkey but now I am slowly piling up the acc again.

I guess I should skip to rule 2

About the stories with the friends I was just wondering how the hell there are so many poor people?
Well,I can be one of the friends from that story.I had my hands on some forex courses 3 years ago.just read them and decided to start when I will have a capital of at least 2000 to open an acc.

last year in summer I have started to trade on demo acc,reading again all the courses and everything I could find on internet,trying to filter the info and it still sound crazy....untill I went to a seminary and saw people with less degrees than me that doubled their 40k initial investment in less than a year.
that's when I was hit since then I spent every single available minute on reading and reading again and experimenting 2 strategies.

anyway,I'm still in

Sometimes we the Traders try to act too smart and keep adding all types of Indicators to our charts. I've even seen charts where you will everything but Price Bars ... Ideally, trading should be easy, its just three possibilities to look at Bullish, Bearish and Sideways ...

May I ask you this....in the attached pic with your this post, where would you place your SL?