Law of Attraction-based trading system | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

EA based on indicator which changes based on numbers of bars 0 replies

Price Attraction Points 114 replies

The law of attraction and trading 109 replies

Trading Price Based Charts Instead of Time Based Charts 1 reply

Price-based Vs. Pip-based 5 replies

Law of Attraction-based trading system

  • #21
  • Aug 21, 2014 1:55pm Aug 21, 2014 1:55pm
Very interesting indeed and nice to see that this forum has open-minded members indeed. I have studied LOA and more, but never would have imagined it could be applied to forex trading especially since it's so fast-paced. But I have noticed that my perception influences how I fare. Ultimately the systems only confirm, not determine, outcomes (positive and negative). By extension though, you trade the market based on what attract to yourself. It may be bad signals indeed, which will lead to the less than desirable results.
Enter Signature
  • #22
  • Aug 21, 2014 2:50pm Aug 21, 2014 2:50pm
If the thinking is based on the natural world (for me, Gods law). Then it should hold true that any systems (indicators) that always use the same number will fail at some point in time. Because of the ever changing world we live and trade in. Depending on our trading time frame, our market or markets could change from trend to chop to trend in one trading session. Our number probably doesn't work for both. Much less the variable speed of a market from day to day or week to week.

If our system is derived from natural law then it should prove to be more robust and less likely to fail. So old fashioned things as channels and support and resistance should always work best because they do not remain static. We can redraw a channel or go to a higher time frame to find an old S or R level from the past. Those would be 2 simple examples, I'm not advocating the strict use of a particular tool. Those choices are made by each of us and I could mention a few more but, I'm making a point. It's your choice. Hopefully we understand the limitations.

The human condition looks for the easy way to do things. OH I can just look at this indicator and it will tell me all I need to know. Instead of redrawing lines and looking for another set of S and R locations when a market changes direction and doesn't give the human (gambler) some relief and give the fix we're looking for. We attempt a trade and it loses or doesn't pay like we think it should. We blame it on bad timing, luck, news or my phone rang........ A couple of things I know for sure are. 1. Stupid is supposed to be painful and 2. Excuses are like armpits (you can substitute another part of the anatomy if you'd like) BUT THEY ALL STINK.

I'll end with a favorite scene from an Indy Jones movie. He is standing on the edge of the bottomless cliff, takes out his Bible and reads about faith in God, closes his eyes and steps out into the abyss. The rocks appear under his feet and allow him to cross. Now that's Hollywood theatrics, but faith like that, and the use of natural law will always prevail. The pursuit of knowledge and understanding will always make us better people and hopefully better traders because of that pursuit

Be well and trade well. Steve
  • #23
  • Aug 22, 2014 4:32am Aug 22, 2014 4:32am
Quoting Sossos
If the thinking is based on the natural world (for me, Gods law). Then it should hold true that any systems (indicators) that always use the same number will fail at some point in time. Because of the ever changing world we live and trade in. Depending on our trading time frame, our market or markets could change from trend to chop to trend in one trading session. Our number probably doesn't work for both. Much less the variable speed of a market from day to day or week to week. If our system is derived from natural law then it should prove to be...
That's true but because the most of the systems are not based on natural laws but on our thinking mind which is our worst enemy because it normaly is not aware of natural laws; the result is that almost any system is not complete as it is a trend follower or a range follower, none of them are good to trade all market conditions, that is the reason why sooner or later they will fail
  • #24
  • Aug 22, 2014 7:02am Aug 22, 2014 7:02am
Inserted Video


Nothing happened ?! ... only a headache.

Am I doing something wrong??
  • #25
  • Aug 22, 2014 7:21am Aug 22, 2014 7:21am
Quoting bodypip
http://youtu.be/ncE0CZOk-f4 N. Am I doing something wrong??
You have to stand on your head, then money can pour out of it.... like duh
H.D
  • #26
  • Aug 22, 2014 7:29am Aug 22, 2014 7:29am
Quoting bodypip
http://youtu.be/ncE0CZOk-f4 Nothing happened ?! ... only a headache. Am I doing something wrong??
Don't chase money, it always will run faster than you; you have to attract it. The only way you can do this is through the changing of you state of mind
  • #27
  • Edited 12:58pm Aug 22, 2014 12:43pm | Edited 12:58pm
Quoting mvp77
{quote} And how do you trade the market ? I only see "nice words" ....

We don't.. we get into a peaceful, calm, happy, patient, relaxed state of mind. This is our natural state and in this state we are the most "tuned in" with the markets we observe.

Then at some point it is like the trade finds us and we feel the impulse to act.

Nothing can bother us because nothing (in life) can happen to us that we didn't ask for... If for instance something disturbs me while trading (a phonecall, someone coming in) or for some reason I cannot trade, or I arrive late: this just has to be. It's part of the story and it's just fine. Apparently the universe has something better for me or prevents me from doing something stupid ;-)

Be the happiest, most relaxed, easy-going, downstream trader in the world! Pretend you already have the profits in your pocket and feel in advance what it feels like and be grateful in advance. It's not the trade that makes you happy. We need to turn it around, be happy anyway, and then the universe has to provide it.

It is very important at all times to never generate negative emotions. This is something we always do to ourselves and not outside conditions. By thinking the right thoughts and keeping faith a positive emotional attitude can be achieved and maintained. However, the following tips might help as well:

- Before the trade we are more objective than while being in the trade. I advise shutting down the screen after taking the trade and let the market "play" with the emotions of others..but not with yours! Although the universe will give you your profits (which you totally deserve!!) not every bar might go in the right direction and it might not happen immediately. We should never have second doubts and the easy way to avoid this is shutting down the screen, do something fun and come back after a while. Trust that you did the right thing and let the market do its thing. Patience which traders find very hard is in fact extremely easy: just do something else!

- Emotionally it's much easier to cope afterwards with a stop that has been hit compared to seeing it happen. You run the chance of taking a new trade too quickly, in an emotional negative state and screwing up. The same with a target that has been hit.

- Even after a winner we can still screw up our emotions. After getting out we are tempted to look at it for a while for what is happening (and what would have happened to your trade). This is all blah blah and completely useless. If the market turns around we might regret not having reversed. If the market continues we might regret not having held..etc etc.. like this it is always wrong! Instead of feeling grateful we are emotionally setting ourselves up for failure in the next trade by beating up on ourselves about what could have, should have etc. Don't be one of those people where it's always wrong because it is always fine!! Emotionally we have to "reset" ourselves. Never beat yourself up about anything! So also after closing the trade it's the best thing to shut down the screen for a while (or look at other markets) and just be grateful. If some hours later we find out what the market did you will think: So what, I am fine and on my way for my next trade that is already lining up.

Thank you for your comments and following this thread. I am very grateful for the opportunity to share.
Soon more about getting in the right state of mind

Thanks,
Ivo
Trouble lies in what we believe to know for sure that just ain't so.
  • #28
  • Aug 22, 2014 1:30pm Aug 22, 2014 1:30pm
Quoting ivob
{quote} We don't.. we get into a peaceful, calm, happy, patient, relaxed state of mind. This is our natural state and in this state we are the most "tuned in" with the markets we observe. Then at some point it is like the trade finds us and we feel the impulse to act. Nothing can bother us because nothing (in life) can happen to us that we didn't ask for... If for instance something disturbs me while trading (a phonecall, someone coming in) or for some reason I cannot trade, or I arrive late: this just has to be. It's part of the story and it's...

That's why i trade with my personal ea ! And when people talk, human actions are better than robots, they deceive themselves. (for sure they use crappy strategies, but mostly crappy MM)
I focus on:
How do i manage a bad trade?
THAT'S the key to become a profitable Trader !
Regards
  • #29
  • Aug 22, 2014 2:11pm Aug 22, 2014 2:11pm
Quoting bodypip
http://youtu.be/ncE0CZOk-f4 Nothing happened ?! ... only a headache. Am I doing something wrong??
Maybe your acc is in € !

  • #30
  • Aug 22, 2014 2:28pm Aug 22, 2014 2:28pm
If I remember correct Mark Douglas wrote in Trading in the zone it's better for psychology to have a predetermined Stop and TP and leave the trade alone. One of them gets hit, simple. No trailing, no breakeven etc. Just leave it. Most people will do much better this way.
  • #31
  • Aug 22, 2014 2:41pm Aug 22, 2014 2:41pm
Great thread,,worth following.
  • #32
  • Edited 9:52am Aug 23, 2014 9:28am | Edited 9:52am
Quoting Anusragger
If I remember correct Mark Douglas wrote in Trading in the zone it's better for psychology to have a predetermined Stop and TP and leave the trade alone. One of them gets hit, simple. No trailing, no breakeven etc. Just leave it. Most people will do much better this way.
Exactly. And the emotional state of the trader is not determined by outside conditions (the market) as the market unfolds. Experiencing these emotions, second guessing etc. is very bad as this clouds our feeling for the market and we get addicted to those emotions and the action. We second guess, get nervous, close the trade (for no obvious reason) and the next time we'll do the same. Bad habits are created.

We have to stay away from it, unless you can be completely detached while watching. (which is of course totally possible). Some traders say "sit on your hands" while you watch the market... sure it might work for this trade but it doesn't keep you from experiencing the emotions while being in the trade and that's where the (mental) damage is done.

Just take the trade, keep the faith, chill out and take complete responsibility for the outcome. No big deal. All is well

regards,
Ivo
Trouble lies in what we believe to know for sure that just ain't so.
  • #33
  • Aug 31, 2014 2:25pm Aug 31, 2014 2:25pm
Yeah great contents but now this thread seems dead.
  • #34
  • Sep 1, 2014 4:05am Sep 1, 2014 4:05am
IMHO the missing piece here is trust and money management.

You build trust by knowing the system and its stats very well. Just get to work and get the systems stats for the last few thousand trades. This way you will not get emotional and stop positive thinking if you get one or more negative trades. You know exactly that they belong to your system and that you will be positive at the end of the month if you continue to follow your system.

You can attract wealth with LOA, but it will not work if you trade with unhealthy lotsizes. That's because you are now trying to force it instead of attracting it.

Most traders will get very emotional if they lose 3% of their account a few times in a row. This means they will start making errors, losing trust, adjusting or changing their system, etc. They are now attracting something very different.
Now, what about say 0.01%? Will you feel any negative emotions after you lost 0.01% of your account a few times in a row? No, exactly. That's like if you sit in a restaurant and while you get your meal the waiter drops one of the french fries on the dusty floor. - No problem at all.
..
  • #35
  • Sep 1, 2014 4:13am Sep 1, 2014 4:13am
Quoting alexx90
Yeah great contents but now this thread seems dead.
... maybe the thread lost the "attraction"
  • #36
  • Sep 1, 2014 4:32am Sep 1, 2014 4:32am
Quoting Slicktick
IMHO the missing piece here is trust and money management. You build trust by knowing the system and its stats very well. Just get to work and get the systems stats for the last few thousand trades. This way you will not get emotional and stop positive thinking if you get one or more negative trades. You know exactly that they belong to your system and that you will be positive at the end of the month if you continue to follow your system. You can attract wealth with LOA, but it will not work if you trade with unhealthy lotsizes. That's because...
Everyone is different! I think the main goal of this thread here is just to make money and not to go that route of focus on okay now lets put on this magic indicator and once x line with z you press the button. You'd be amazed if you understand how markets operate and know tools of the trade how easy it can be by just having the right mindset it is to make money regardless of what your 'system' is. Hell you dont even need a system to be able to make consistent money!
All posts are my personal opinion
  • #37
  • Edited 5:42am Sep 1, 2014 5:11am | Edited 5:42am
Quoting Slicktick
IMHO the missing piece here is trust and money management. You build trust by knowing the system and its stats very well. Just get to work and get the systems stats for the last few thousand trades. This way you will not get emotional and stop positive thinking if you get one or more negative trades. You know exactly that they belong to your system and that you will be positive at the end of the month if you continue to follow your system. You can attract wealth with LOA, but it will not work if you trade with unhealthy lotsizes. That's because...
A system, stats, lotsize, money management is all just to confirm our believes. It is all self-fulfilling. We tell ourselves: I got it right, I know the stats, I have a system, etc etc.. Lotsizes are only unhealthy when they feel unhealthy (so when they affect your emotions in a negative way).

You have a system. Do some trades, they are profitable so we start building up confidence.

It works but it is not the system (or any system) that makes you profitable. It's the comfort and confidence that a system gives us. Everything goes quicker if we turn things around. First feel good and relaxed! We can feel confident regardless of the system, by continually directing our thoughts and by having the right thoughts. This will then turn into believes. Just choose any system that feels good and that is not complicated.

Each and every time I have a losing trade my emotions were somewhere of balance. I was not completely in tune with the market. It's like a flock of birds who suddenly change direction. How does each bird know what to do at exactly the right moment? Subconsciously they are communicating with eachother acting as one organism. The market is one organism as well. To be in tune with the market is to be in tune with our own emotions. We need to avoid negative emotions at all times and take preventive measures. This is different for each person but it can be: shutting down the screen after a trade, trading smaller, taking breaks for mental reset, etc etc. Only then, by preventing negative emotions to take place, we allow law of attraction to give us that what we desire.

Focussing on that we want is very important. Focus on winning (not on not losing), focus on targets (not on stops), focus on things to go easy. Practice gratitude, make a list of everything that you like so much about trading right now! For our desires to come true we have to let go all resistance. For that we need to be grateful for and happy with what's happening now. Off topic: This works for everything: if you want a new job make a list of things you like about your current job.

It is possible to be completely in tune with the market. To be part of it (subsconsciously) and you just know what's going to happen. Only then we should act and it should be easy...downstream... easy to see, easy to do, effortless. After a while trading becomes just as easy as it seems.

regards,
Ivo
Trouble lies in what we believe to know for sure that just ain't so.
  • #38
  • Sep 1, 2014 6:48am Sep 1, 2014 6:48am
Quoting ivob
[...] Do some trades, they are profitable so we start building up confidence. [...]
Well, that's just why most people will not become profitable consistently.

Quoting ivob
[...] It is possible to be completely in tune with the market. To be part of it (subsconsciously) and you just know what's going to happen. Only then we should act and it should be easy...downstream... easy to see, easy to do, effortless. After a while trading becomes just as easy as it seems. [...]
It could be possible but for me it sounds more like a line from a Kung-Fu movie. (Especially because of the word 'completely' - you will always be out of sync sometimes)

Quoting ivob
[...] Each and every time I have a losing trade my emotions were somewhere of balance. I was not completely in tune with the market. [...]
That's exactly what has to follow in this 'in tune with the market'-mindset. You feel bad because you were not completely in tune with the market. Next, you will try harder to be completely in tune with the market and you will get an even bigger losing trade.


It's much easier to get completely in tune with your system (whatever your system is - even trading according to the moon phases is profitable for some people). Concentrate on trading your system and follow all your rules. Losing trades are part of every system, so you don't have to feel bad for them. The only time you have to feel bad is when you did not follow your rules.
..
  • #39
  • Sep 1, 2014 7:08am Sep 1, 2014 7:08am
Quoting Rtm
[...] now lets put on this magic indicator and once x line with z you press the button.[...]
It was never my intention to advise something like this. However, even trading trade price action on a naked chart is a system if you write the rules down.

Quoting Rtm
[...] You'd be amazed if you understand how markets operate and know tools of the trade how easy it can be by just having the right mindset it is to make money regardless of what your 'system' is. [...]
Exactly!
However, as we are talking about the right mindset: I think for someone who is still looking for the mindset it is easier to get into the right mindset if you use a system with exact rules. Later on, the system becomes quite unimportant.
..
  • #40
  • Edited Sep 3, 2014 6:54am Sep 2, 2014 7:00am | Edited Sep 3, 2014 6:54am
Quoting Slicktick
Exactly! However, as we are talking about the right mindset: I think for someone who is still looking for the mindset it is easier to get into the right mindset if you use a system with exact rules. Later on, the system becomes quite unimportant.
Of course we need some kind of system.. but even then while trading we have some preferences. We skip some trades and we take some that we were not supposed to take... We still get impulses unless it's some kind of computer trading.. and even those are affected by human thoughts...

Did you know that there have been tests with computers generating random numbers.. but then when people were observing and directing their thoughts to it, those numbers did turn out not to be random at all.... I am not going to defend it here because it's simply a fact that thoughts can affect (actually attract!) matter and events, scientists are in the stage of trying to explain it and not in the stage of challenging the results or defending them. For instance lookup Maharishi effect and this is just the tip of the iceberg regarding what people (anyone) can do with their thoughts. In fact: everything changes the moment it is observed by someone.

The point is that the market is a personal experience (exactly how it feels..doesn't it?)... very personal, extremely personal I would say. The market is your personal emotional graph the moment you observe it and even more the moment you start to participate. It plays out your emotions perfectly. Your emotions!

The profit that someone makes while executing a system exactly according to the "rules" of that system has everything to do with being relaxed, confidence, and other positive feelings and nothing at all with the system.

What I am saying here is: get relaxed.. get happy... use a simple system and be open for impulses and detach yourself from the outcome. Make a list of everything you love about trading (it releases resistance).. Trade only when you simply "know" what's going to happen. Trust that the trade will find you. Go downstream, take trades that are easy to see. Meditate before trading and picture yourself doing it easily. If you feel in a hurry: bad sign.... if you're afraid you miss out: bad sign because fear is a negative emotion, if you have to use a magnifying glass to see the opportunity: bad sign, if your platform goes down right before: do not take the trade.. It's supposed to be easy.

It's a mindgame. 100%
Trouble lies in what we believe to know for sure that just ain't so.
0 traders viewing now