EurAnalysis

I Bought and read their book. Actually the book was written by Kathy.

When I first started trading during 2003 I only traded $50,000 Demo accounts. After two years of training self taught and having excellent results I formed a company and arranged to manage my first $10,000 US of associates funds. My results were so good that within 2 months I was managing $25,000 US and by the end of 2006 I had $100,000 US that I was managing under LPOA and charging performance fees.

I have managed $5000 US at times and found that I did not have the patience to only trade $2000 US of the $5000 US.

I now have a formula that is foolproof unless I turn into a fool that only permits me to trade 20% of the capital that I manage. I know that this discussion has been held before however having been there done that I really respect those that trade mini lots.

I could NOT SUCCEED trading mini lots even today since it just is not worth my time or effort.

I really encourage those that want to trade a minimum of $10,000 US which is my ABSOLUTE minimum to manage that they open a $50,000 US Demo account and trade that for three months NEVER using more than 20% of the capital at any one time.

I have a Risk Management formula that again works if you can win at least 50% of all your trades. My winning percentage is always 75% or higher.

I NEVER risk more than 5% of my capital on any Trade Plan. I always scale in my purchases so as it moves against me if it does I get better and better entries. When it hits Resistance and Reverses then my last position put on makes the most money as I lower my stop locking in profits.

If anyone wants to learn FREE OF CHARGE just open a $50,000 US Dollar Demo account and I will share my proven strategies here.

I once traded a $5,000,000 Demo account set up by PFG Best in Chicago before they went out of business. This was during 2007 and I discovered MAGIC when I found it so much more easy to trade a $5,000,000 US Dollars account than a $100,000 US Dollars account that I have traded real funds on.

It is hard to accept my thoughts unless you have tried it yourself.

I share this information in appreciation how difficult it is to trade mini lots.

I am sure that some traders here would be very successful if they traded the proper capital.

Where is Dennis of the Turtles when you need him. That reminds me of the great book Market Wizards that I have in my office.

Actually looking at the cover now it is called "The New Market Wizard" by Jack D. Schwager.

Have a nice weekend.

http://www.moneyandmarkets.com/how-t...50185?FIELD9=2

I don’t know about you, but investors often get tangled in trading ruts. And most of the time it’s all mental.

“The market is an easy game to play. It is just that we are hell-bent upon making it so complicated. That’s what makes it so difficult for us to win,” Edward Toppel writes, in his gem of a book, Zen in the Markets.

Oscillators, retracements, waves, time counts, trend lines, blah, blah, blah … into infinitum at times, making it harder than it is. Maybe it is just as simple as Toppel says.

Here are the rules; we all know them:

1. Buy low, sell high.
2. Let profits run, cut losses quickly.
3. Add to a winning position, not a loser.
4. Go with the trend.

Bingo! Unequivocal! Easy to understand!

The problem, however, is when you break the rules on a consistent basis.
Instead of going with the trend, do you look to make a short-term trade against the trend because you think you know more than the market? Often, investors believe they can tell when a profit should be taken and, thus, cut their winners short. How about you?

It is important that you describe your mistakes and weaknesses in the “I” term. Because in the end, even though currencies are a zero-sum game, you are in competition with yourself here.

The market does not personalize. Dealers don’t personalize if they “gun a stop” when trading is thin; after all, they just want to exit a bad trade, or position for a good one, as quickly as possible.

No, it is part-and-parcel to the process — it is the market. Therefore …

There Is Only One Person to Blame

Toppel cuts to the chase. Once we understand we are in competition with ourselves, the culprit is easy to spot. He refers to it as the “Big E,” for ego.

Because the Big E gets in the way and thinks it’s right, it robs us of the ability to do the right thing.

Trading psychology guru Mark Douglas put it this way, “You don’t have to know what’s going to happen in order to make money in the market.”

Now, that may sound odd to you. But the reality is that currency trading is nothing more than a probability bet. No more and no less.

If you can think of it in those terms, I think it helps remove the Big E from the equation. For as Douglas says, you don’t take an ego hit when you pick heads and then tails comes up on a coin flip. You know it is all about probabilities.

Currency trading should be considered the same. But, that is easier said than done; I know that too well.

Big E is wedged between how you should and how you do think of trading. “Really, ego has a life of its own within all of us. Its hold is more powerful than a plutonium bomb,” Toppel writes.

Toppel talks about how you can change Big E’s hold. He writes about the idea of “egoless sight” — seeing things for what they are and not for what your ego would like them to be.

How often have you nailed all the economic stuff in advance, predicted all the news, reports, etc. and still lost money on the trade?



If the Market Were Logical,
We’d All Be Winners!

This why I try to apply standard Aristotelian logic …
Come up with reasons and rationales; then draw a conclusion. But you should keep in mind that your conclusion represents an alternative scenario.

Always try to build an alternative competing scenario with as much plausibility as possible. And then hold both thoughts in your head at the same time.

Granted, one will be favored over the other. But, do your best not to fall in love with either side of your story.

When you do fall in love with your story, it proves Big E is once again taking control.

Let’s look at some of the ideas many investors have fallen in love with:

1. Gold will rise to $2,000. Gold will fall to $300.
2. Oil will rise to $200. Oil will fall to $30.
3. The Dollar Index will fall to 40. The Dollar Index will rise to 125.

These were potential scenarios based on logic. But …

“If the market were logical, we’d all be winners,” Toppel quips. “So let’s give up applying a system of expected outcomes to that phenomenon that has eluded the best minds sifting through a multitude of data for their analyses.”

Should you give it all up and just throw darts? Maybe, if that works for you. It can be easier and stress-free, assuming no one wanders in front of your dartboard.

But the reality is, the best you can do is “stay in the now moment.”

You have to define what a “now moment” is. It may be five minutes or it may be a week.

In one of the interviews in Market Wizards by Jack Schwager, a trader said that every day he wakes up, he considers any positions he has on as new positions. All new risk/reward criteria applies because it IS a new day — it is the now moment.

“The noise is your ego’s voice. Stop listening and turn to the only expert worth following — the market. Don’t make it difficult and obscure this simple truth. Forget your voice, and listen to the clear message and direct call given off by the market. Just feel, follow, and put full faith in your ability to blend with the leader, not attempt to lead the market,” adds Toppel.

Again, easier said than done; I realize. But there are ways to help you achieve this:

 

1. Don’t trade against the trend.
2. Whatever the trend is, you must assume it will continue.
3. You will know when it reverses because prices will change.

Granted, the shorter-term your trading time frame, the more difficult this simple but powerful way to think becomes.

But if you avoid trying to predict every twist and turn, you can keep your currency trading simple.

Best wishes

Jack

Wow , last week was an excellent week for me
Thanks to ALLAH (GOD) and then ofcourse to PT (my mentor) who is teaching me many little important tricks/things of this business

Long E/U:
1.20655-1.23705 = 305pips
1.20490-1.23853 = 335pips
1.21650-1.22907 = 125pips
1.22245-1.23455 = 120pips
1.22354-1.22550 = 20pips

Short E/U:
1.22857-1.22650 (Trailing stop hit) = 20pips
1.22650-1.22550 (Trailing stop hit) = 10pips
1.22225-1.22350 (SL hit ) = 12pips

Long E/J:
94.152-96.550 = 140pips

Short U/C:
1.02161-1.00100 = 206pips

Remaining long on G/U:
1.54672-1.55950 = 125pips

Took pips gained in last week: +1394

Good Work. Keep It Up...

Thanks Sir

Congrats Harpy on your excellent week. I think you did much better than me

Congratulations Harpe. Wish you many more green pips.

hey gofer was just following the trend,i mean the smart money,but would have stayed out of the news.HMMMMM

Planning to trade Sunday.What do you thing House?

CM. I respect your posts but this video is such a bullsh#t video that does nothing but scaremonger and promote bullsh#t peak oil, bullsh#t energy shortages, ect........ It's also a commercial link to subscribe to some newsletter or program which these individuals obviously promote.

Besides the promotion, as far as the message, the real hidden message here is over population thus shortages there from. Nothing more then a problem-reaction-solution agenda to prepare you for price gouging. Peak oil has been nothing more then distributed propaganda by big oil to control and manipulate prices for nothing more then to line their pockets by having you believe that you must PAY MORE. Energy shortage is also bullsh#t since the same people that control and promote peak oil suppress alternative clean renewable energy with known proven research, ect............You must know that the real reason cheap alternative energy is suppressed is because big oil have yet to find a way to monopolize it, right? I mean, I can go on and on but will not waste my time or turn this thread off topic. Mixing in a little bit of truth into the presentation to establish credibility in order to have you believe in all, is oldest form of propaganda.

I don't want to offend you because I find that most of your post are very valuable, but this is not one of those. Have a great weekend.

Sunday and Monday morning trade is usually flat except for when there is panic on a Friday that didn't start until Asia was shut down for the weekend. In that case there is a continuation followed by a retrace or reversal.

So if you're looking to buy the Euro as a speculative trade, then the best would be to watch and see if there is any action to the upside first. If you're looking to fade Friday's rally, I'm not sure Sunday night would be the right time to do it. Of course anything can happen especially if something fundamental changes over the weekend.

Anyway, in a nutshell this is my advice. If you're flat, stay flat until after London opens. If you're already long or short, then by all means, manage your trades.

My 2 cents.

I agree 100%
This is certainly a commercially motivated scaremongering infomercial.

I just read your post and I have deleted it. The source is usually good however I guess it was about the money. Thanks for the Heads Up !!!

http://www.themelmanreport.com/minutes/minute834.html

Snippet:

Melman Minutes - By Leonard MelmanMELMAN MINUTE – August 4, 2012
One of the most eagerly-awaited statistics within the financial realm is the monthly release by the US Department of Labour of the preceding month's employment data, and this month was no exception. The figures for July were published on time this morning, and, as a result of that data, financial markets are now enjoying substantial rallies.

According to the data, the American economy created 163,000 new jobs last month, far in excess of predictions which had envisioned a gain of slightly under 100,000 jobs. Immediately following release of the number, the Dow Jones Futures leaped higher and within an hour of the 6:30 AM PDT market openings, the Dow Industrials were ahead by about 200 points and had once again bested the 13,100 level. The power of this morning's rally is well illustrated by the 10-day chart of that Average. (see chart)

http://www.themelmanreport.com/images/aug4_minute42.jpg

I would suspect that there might be some re-evaluation later this session since there are two important factors to consider. First, the Unemployment Rate actually rose from 8.2% in June to 8.3% in July, thanks to an increasing number of active job-seekers who are now counted as 'unemployed'. Second, while the numbers are indeed an improvement over the recent few months, the 163,000 new jobs figure is barely sufficient to keep pace with general population growth. In addition, many of those new jobs came inside the low-wage service sector while, as cited by the Department of Labour, hiring within the higher-paid factory sector continued to tail off markedly since the beginning of the year.

It is also worth noting that the inclusive 'underemployment' rate, numbering those who are working part time and those who no longer qualify for unemployment insurance but are still actively seeking work rose during July to 15.0%, up from 14.9 in June.

While bullish financial investors might indeed be enjoying today's robust morning rally, there are still many vexing problems at hand for the world to address. One of those is the sudden disclosure that India has just suffered through the greatest electrical blackout in the world's history when more than 680,000,000 people lost power when three entire grid systems failed simultaneously. Factories shut down and, within the mining field, hundreds of miners were left trapped underground when electric hoists failed. But there are much deeper implications beyond immediate human suffering to consider.

Now you need a signature showing ~ Harpe ~ zthe pip machine !

http://kingworldnews.com/kingworldne...et_Higher.html

Today James Turk told King World News that gold is now in backwardation and about to rocket higher. Turk also warned, “The bottom line is we are in a fiat currency bubble. Eventually this bubble is going to pop because we are using this fiat currency, backed by nothing, not just in one country, but throughout the world.”



Here is what Turk had to say: “This is exactly the kind of action I had been hoping for, Eric. When had the KWN blog interview on Wednesday, I had mentioned that we probably missed the last chance to buy gold at $1,580, and silver under $27.”

"People are starting to understand they are being played with by these guys. Draghi came out last week and said he will do whatever it takes to preserve the euro. Then he said something to the effect of, ‘And believe me it will be enough.’



But there was an important proviso in his statement. He said, ‘Within its mandate.’ Within the ECB’s mandate he would act. The question is, what is the ECB’s mandate? They still haven’t decided that.”



Turk also added: “Interest rates really are a function of risk. There has been a lot of talk about gold’s swap rates, lease rates, contango, backwardation and all of that stuff, but it’s really pretty simple, Eric. The dollar has an interest rate, the euro has an interest rate, gold has an interest rate. They are all money.



Interest rates are a reflection of risk. Normally, the lower the interest rate, the lower the risk of holding that particular type of money. Historically, gold’s interest rate has always been the lowest. The reason (for that) is you can’t create physical gold out of thin air.



So interest rates for currencies are always higher than gold’s interest rate. But because of this LIBOR scandal, and the fact that we are seeing interest rates being manipulated by central banks, for the past year we have had dollar interest rates lower than gold interest rates and that’s a huge anomaly.



A lot of people are misinterpreting what that means. It’s really just a temporary phenomenon. It’s really just a reflection of all of the interventions we have in the market today.



What we really have to consider is, is gold in backwardation? I think it is, even though the gold forward rate doesn’t show it simply because dollar interest rates are manipulated. I think to a large extent gold interest rates can’t be manipulated any more than they have been.



So the true reflection of the market is you have a backwardation, but it’s not obvious because of the various interest rate manipulations that are going on. That’s very bullish. Whenever you get the metals in backwardation it’s a very bullish situation. I think that’s what we’ve got right here, Eric.



The bottom line is we are in a fiat currency bubble. Eventually this bubble is going to pop because we are using this fiat currency, backed by nothing, not just in one country, but throughout the world.”

http://cdn1.kabbalah.com/ku_newslett...rg-article.jpgMichael's Message:

True Love is Giving

Love is probably one of the most sought after and elusive things in our world today.
Most of the pain that people feel is connected in one way or the other to love, or the lack thereof.

There is a parable that is quite whimsical, but has a very true and basic lesson about love and life.

There were two friends. One day, as they sit down to eat in a restaurant, one of the friends excitedly relates his great love for fish. For twenty minutes, as they sit waiting for someone to take their orders, he goes on about how much he loves fish and of course, when the waiter arrives he orders fish.

The waiter brings out a well-cooked order of salmon and places it in front of him. As he begins cutting away at his fish, his friend suddenly starts screaming: "How can you do that? How dare you! You liar!"

The man who ordered the fish tries to calm him down and asks what's wrong. Still upset, his friend asks: "Is this the way to treat somebody you love? You spoke to me for so long about your love for fish, I assumed when you ordered the fish, the waiter would bring out a fishbowl

and you would play with the fish, and feed it and show it some love. But then I saw that you had them murder your beloved fish and now you go ahead and cut away at it. Is this the way to treat someone you love?"

The man explains to his silly friend that what he meant when he spoke of his love for fish was that he enjoyed eating fish.

This is a comical story, but the message is particularly true. When we speak of love, we usually mean that we receive. For instance, this man enjoyed the good taste of fish and the pleasure that he received from eating it.

True love is giving and can only come about once we understand what it is and how much of a change we must make to begin to feel it. Unfortunately love between humans-and especially between partners in a committed relationship-is thought of and felt with our Desire to Receive for the Self Alone. How much can that person give me and fulfill my desires? Relationships, in order to last, must be built upon a Desire to Share by both spouses. Only when we realize that our understanding of love is flawed can we begin to work on achieving true love.

This idea is very fundamental to our spiritual work, for if we cannot love, we cannot share. And if we cannot share, we cannot come closer to the Creator, who is complete sharing and love.

Blessings and Light,

Michael
Co-Director,
Kabbalah Centre International

http://www.barclayhedge.com/research.../sub/curr.html

http://www.barclayhedge.com/cgi-bin/...cgi?prog_id=17

At a Glance from Jan 1987

Compound Annual Return 7.26% Sharpe Ratio 0.32 Worst Drawdown 15.26% Correlation vs S&P 500 -0.02 Correlation vs US Bonds 0.12 Correlation vs World Bonds -0.02

Past performance is not necessarily indicative of future trading results. The funds represent speculative investments and involve a high degree of risk. An investor could lose all or a substantial portion of his or her investment.

CurrencyMan:

High was 57.74% during 1990

Since High of 11.08% during 2003 the years 2004 , 2005 , 2006 , 2007 , 2008, 2009 , 2010 , 2011 have not got over 10%.