BLOG THIS !!!!!!
BLOG THIS !!!!!!
Give Your System A chance
I have been trading for several years now and was continuously searching and searching for a system to give me instant results. If the system wasn't doing what I had expected in a short period of time I would dump that system, get depressed or mad or both, and then go on the hunt again for that perfect system. A lot of traders say they are looking for the Holy Grail but its all the same. I even tried tweaking systems, inventing systems, adding double systems, added more and more indicators, tweaked the indicators and on and on and on. I know this sounds like your experience because as traders we all do it. Tell me you don't do this at all and I will eat my words here. So what is the point I am trying to make here.
The point is to get a system that works and work it. Give it some time. How much time? Me personally would be a minimum of 3 months. Use only a Demo account in the beginning. Each month print out the results and sign up again for a new fresh demo. Compare the results at the end of the month and see where you sit. Don't have the time you say? Well then keep searching and searching and searching. Go ahead and spend some more cash on something else. Maybe that will work and maybe it wont. Odds are that you will be in the same boat as you were before you started. Look, I am not the worlds top trader and I don't expect to be. I use myself as my gauge of where I came from. Everyone has a different account size, drive, ambitions, beliefs, systems, knowledge, goals, tolerances and ETC. Traders are impatient because they want instant results. It isn't going to happen. Its a process in the long term. There are some that will get lucky and fall into a great system right away. Maybe they are tough and they are off and running. I wish that for everyone but like I said the odds are against you.
So closing up here I want to say I finally found a system that works and I finally stuck with it and worked it. I have not tweaked it , although the temptations are running thru my mind, and take every signal it presents. I look at my money management technique's and parameters and stick to them and so far so good.
If you like your system, that really helps because your belief is on your side that you will make the system work the way it suppose to. Trading is a dream for me and I am living it at this time. The journey has been long and expensive. The results are paying off. I truly wish for everyone to become profitable on a consistent basis and enjoy what they are doing. So may great prosperity come your way and use it wisely.
Robert
The point is to get a system that works and work it. Give it some time. How much time? Me personally would be a minimum of 3 months. Use only a Demo account in the beginning. Each month print out the results and sign up again for a new fresh demo. Compare the results at the end of the month and see where you sit. Don't have the time you say? Well then keep searching and searching and searching. Go ahead and spend some more cash on something else. Maybe that will work and maybe it wont. Odds are that you will be in the same boat as you were before you started. Look, I am not the worlds top trader and I don't expect to be. I use myself as my gauge of where I came from. Everyone has a different account size, drive, ambitions, beliefs, systems, knowledge, goals, tolerances and ETC. Traders are impatient because they want instant results. It isn't going to happen. Its a process in the long term. There are some that will get lucky and fall into a great system right away. Maybe they are tough and they are off and running. I wish that for everyone but like I said the odds are against you.
So closing up here I want to say I finally found a system that works and I finally stuck with it and worked it. I have not tweaked it , although the temptations are running thru my mind, and take every signal it presents. I look at my money management technique's and parameters and stick to them and so far so good.
If you like your system, that really helps because your belief is on your side that you will make the system work the way it suppose to. Trading is a dream for me and I am living it at this time. The journey has been long and expensive. The results are paying off. I truly wish for everyone to become profitable on a consistent basis and enjoy what they are doing. So may great prosperity come your way and use it wisely.
Robert
Chasing Your Tail
My dog was chewing on her bone today while I was doing some maintenance on my website and 2 things turned on a light bulb upstairs. One thought was about dogs chasing their tails and the other was their ability to stay extremely focused. Have you ever had problems in Trading regarding these 2 subjects? Well let's just break them down a minute.
1- I associated chasing tails with Traders looking for the Holy Grail of Trading systems and the mad jumping around trying this system and that system and hoping for a 100% winning system. Trying to tweak this and that for better results. Never catching that so called tail. Stop right here. Think about what I just said. A dog that chases it's tail goes around and around and then gets dizzy and gives up. Sound too familiar does it? I have spent numerous hours looking for that Holy Grail. I have spent thousands, yes thousands, on different systems which produced mediocre results. Finally I came to terms with myself and just started sticking to one system and that is it. I gave it some time to work and in the long run it is producing and my confidence is back. When a trade starts going against me I have learned to trust my system and follow it's rules. So just step back a minute and see if this has happened to you. If there is a time that comes and I must look again then I will search at that time. But for now I just stick to one system and trade every signal it produces.
2- Watching a dog's focus is a very valuable lesson in life that we all can learn from. Next time you see your dog ( if you own one) take a treat and hold it in the air in front of him/her. Observe the absolute focus that dog has on every single movement that you make with the treat. A bomb could go off and that dog would still be focused on that treat. That is what we as Traders need to do with our trading. I recently attended a Seminar on the Psychology of Trading and learned some techniques to focus. It was extremely powerful and very useful. I found myself before taking the course , drifting all over, and getting distracted all the time. By putting time into learning how to focus, my Trading has both improved and is more peaceful. So try to focus like your dog and see what happens.
So to close things up I would suggest you do not start chasing your tail, do not focus on other peoples meals and please, do not, I said do not start barking. The neighbors might thing you to be strange.
As always , may your profits be consistent and happy trading...................... Robert
1- I associated chasing tails with Traders looking for the Holy Grail of Trading systems and the mad jumping around trying this system and that system and hoping for a 100% winning system. Trying to tweak this and that for better results. Never catching that so called tail. Stop right here. Think about what I just said. A dog that chases it's tail goes around and around and then gets dizzy and gives up. Sound too familiar does it? I have spent numerous hours looking for that Holy Grail. I have spent thousands, yes thousands, on different systems which produced mediocre results. Finally I came to terms with myself and just started sticking to one system and that is it. I gave it some time to work and in the long run it is producing and my confidence is back. When a trade starts going against me I have learned to trust my system and follow it's rules. So just step back a minute and see if this has happened to you. If there is a time that comes and I must look again then I will search at that time. But for now I just stick to one system and trade every signal it produces.
2- Watching a dog's focus is a very valuable lesson in life that we all can learn from. Next time you see your dog ( if you own one) take a treat and hold it in the air in front of him/her. Observe the absolute focus that dog has on every single movement that you make with the treat. A bomb could go off and that dog would still be focused on that treat. That is what we as Traders need to do with our trading. I recently attended a Seminar on the Psychology of Trading and learned some techniques to focus. It was extremely powerful and very useful. I found myself before taking the course , drifting all over, and getting distracted all the time. By putting time into learning how to focus, my Trading has both improved and is more peaceful. So try to focus like your dog and see what happens.
So to close things up I would suggest you do not start chasing your tail, do not focus on other peoples meals and please, do not, I said do not start barking. The neighbors might thing you to be strange.
As always , may your profits be consistent and happy trading...................... Robert
******* Winding Down Then Notching Up *******
Boy it has been a long time since my last entry but Hey , trading is more important then a blog. Right? I knew you would agree. There has been so much going on in the world of Trading this Year. I mainly traded the Forex Markets and then decided to add Stocks to my life and know I am real busy. The Forex has been good and some nice trends were caught as of late this year. The Stock market has some Bullish attitude right now and one has to be careful to cherry pick and manage the risk. Remember to peel off your gains when they come and manage the remaining stops. This comes back to Psychology again and when my money is on the line it gets extremely tough to know when to take profits and move stops. I have purchased a new Trading Software package which is starting to work to my advatage and help my Psychology side of trading. . I am still in the learning, backtesting stage, but it has put some good cash into my account so far. I have been working on taking the trade set ups without hesitation and observing what the Markets are doing and not what I believe they will do. I have looked back at my past Trading habits etc and I am starting to polish more and more. My learning curve has been steep but my persistence has been impecable. I have reflected on what I use to do including my emotions, and man what a huge improvement. I would suggest that if you are Trading then look at where you came from up until today and I truly believe you will see a great improvement on yourself. I believe too many people focus on the aspect that nothing is changing with my account so I must be a poor Trader. LOOK AT YOUR PAST Trading history and give yourself some credit and a pat on the back. This coming year if your still with me at this moment, try to remember to keep this in mind because it really does help: " NO SET UP--- NO TRADE "
So wind down right now and get ready to notch it up in 2008. Believe in yourself and keep the dream alive. For the more experienced Traders out their, try helping less experienced Traders learn a few tricks or two and maybe everybodys profits will be consistent. I hope your new year is prosperous and healthy.
HAPPY NEW YEAR
Robert
So wind down right now and get ready to notch it up in 2008. Believe in yourself and keep the dream alive. For the more experienced Traders out their, try helping less experienced Traders learn a few tricks or two and maybe everybodys profits will be consistent. I hope your new year is prosperous and healthy.
HAPPY NEW YEAR
Robert
Quit Hunting For The Holy Grail
I know there are a ton of Traders out there, that was, or still is, hunting for the "Holy Grail Trading System or Indicator". It does not or never will come to fruition. Traders have to find a High Probability Strategy and just stick to that one system of trading. You have to give it some time to work. I have jumped around with Strategies so much in the past that I never really gave a lot of them the chance to show me their stuff. It really comes down to having a Trading plan and sticking to it and don't waiver. There are thousands of systems, strategies, software etc and its like a kid going into a candy store looking for a candy bar. Which one do I like? I like them all. Yes it is confusing looking for your system and software. Boy, talk about software which is also a trip in a half. So what am I really trying to say? Pick one system or strategy and just work the holy moly out of it. It wasn't until I buckled down and just concentrated on one system that I started to feel good about my Trading and results started happening. Once that happened then the self confidence came around followed by being less hesitant and calm. Remember this:
No Set Up... No Trade....
Every time I sit down and look at the market, I have to realize there are no two exact Trading time stamps. The traders are different, the news is different, the technicals are different etc, etc, etc.. Just Trade your planned strategy and come win, lose or draw, if your system has a high probability , you will come out ahead. I wish everyone the best there is and hope it didn't take as long as it did for me but there will come a day when that light bulb clicks on and brightens your way.
Drop by and visit my website " Traders One Stop " at www.rpmtradingllc.com . There is nothing that I sell and I just have various trading sites to visit and explore. I add new links often so visit as much as you like. I hope I have at least helped one person out there to become profitable and consistent. Also take a look at these blog addresses: The first one is really good called "Piptopia" with Rob Booker and the others I just did a Google search:
http://www.robbooker.com/blog/
http://www.swing-trade-stocks.com/taz-trader-blog.html
http://www.traderblog.com/
http://www.traderblogs.com/
http://www.mysterytraderblog.com/
Thanks again for dropping by and my your profits be consistent
Robert
No Set Up... No Trade....
Every time I sit down and look at the market, I have to realize there are no two exact Trading time stamps. The traders are different, the news is different, the technicals are different etc, etc, etc.. Just Trade your planned strategy and come win, lose or draw, if your system has a high probability , you will come out ahead. I wish everyone the best there is and hope it didn't take as long as it did for me but there will come a day when that light bulb clicks on and brightens your way.
Drop by and visit my website " Traders One Stop " at www.rpmtradingllc.com . There is nothing that I sell and I just have various trading sites to visit and explore. I add new links often so visit as much as you like. I hope I have at least helped one person out there to become profitable and consistent. Also take a look at these blog addresses: The first one is really good called "Piptopia" with Rob Booker and the others I just did a Google search:
http://www.robbooker.com/blog/
http://www.swing-trade-stocks.com/taz-trader-blog.html
http://www.traderblog.com/
http://www.traderblogs.com/
http://www.mysterytraderblog.com/
Thanks again for dropping by and my your profits be consistent
Robert
Psychology!!! Psychology!!! Psychology
I really like to stick my head out a lot and I have to say for me that Trading is 90% Psychology and 10% Technical. Granted I mainly Trade technically, I do observe the Fundamentals very close. Fundamentals is very much Psychology if you Trade Forex. Back and forth with price action no matter if news is good or bad. Its crazy for me at least. I do not Trade news but observe until the dust settles down. That is one reason I am writing today because I have been dominating an extreme amount of my time with Psychology and meditation. There is a lot of Psychology material and meditation stuff available but I really have just a sprinkle of programs and people I have based my believes in and I highly recommend you visit my website at www.rpmtradingllc.com and check out the PSYCHOLOGY & MEDITATION Tabs for various products.
When you have real money in the markets things change extremely fast Psychology wise. Whether you Trade Technically or fundamentally your hard earned cash is still their in front and in back of your eyes. That is why it is very critcal to take your time before getting into a Trade and know your entries and exits . When I click the mouse to enter I have to accept whatever happens is ok and Trading is just a art of probablities. My strategies must be a higher probability Trade or I just plain pass. If I miss the Trade then Oh Well. The Trade Train will be by again later. Money Management runs your Psychology too. When do I close a few postions when there is profit and bring my stop to breakeven? You best know what your doing or it will go against you and then Oh Crap. I just purchased a program to help me with my mental garbage (Psychology goop) and I am so impressed with what is contained in it. The material makes a lot of sense and very easy to apply which I have been doing quite regularly. I does appear to work at this stage so I will have to update you later down the road as to the progress. If your interested then just drop me an email at 1rpm@cox.net and I will send you the link.
I like to keep things short so if you have any comments or suggestions please send them or just respond to this Blog. I hope you have consistent profits and enjoy your Trading.
Until Later Robert
Trading Addiction
Here it is Tuesday evening and I'm searching for a trade to place. Didn't I mention in one of my first blog's that No Set up No Trade?????? I truly do love trading but we all have to have a life. After all isn't that one reason we want to trade is to be able to have more time to have a life? I will keep this short and practice what I preach to myself and get ready for tomorrow the 4th. I wish the best for everyone and just to let go and enjoy life for at least one day.
I wish consistent profits for all Traders on a daily basis............
Robert
I wish consistent profits for all Traders on a daily basis............
Robert
Back To My Trading Desk
After 2 weeks of trying to troubleshoot why I couldn't upload my updated web pages from Dreamweaver I had finally succumbed to the answer and then it took 1 day of uploading and adding stuff. Anyways that is now done and I am back to my Trading Desk. I trade the Forex Market and the summer duldrums are sneaking up. The one pair I have been curiously watching is the USDCAD pair. A lot of talk about a bottom but I have to ask is " Is the Market showing it's hand"? Don't think so. On the recent Daily chart, the downtrend has had very shallow retracements. Not quite 38%. If you pull fibs on the Weekly 7/06 to 1/07 uptrend it is now sitting in between the 1.272% and the 1.618% retracements and is now banging its head on the 1.272% retest. Yes the Daily chart is showing higher highs and higher lows within a small channel but the bull/bear struggle is evident. There is no true conviction yet for me. I will just sit back and watch the Market show it's hand .
You know there is a lot of great material and web sites out their about Trading products and services. While I have been building my site I keep running into other Great looking sites with a tremendous amount of good Trading materials and services. I do not sell anything off my site, I just have it for other Traders to come to a One Stop area for Traders. My URL is www.rpmtradingllc.com If you would like to see something or have any comments or suggestions please by all means shoot me an email and let me know. Well I'll close for now and hope to write more soon.
May your profits be consistent...............................Bob
You know there is a lot of great material and web sites out their about Trading products and services. While I have been building my site I keep running into other Great looking sites with a tremendous amount of good Trading materials and services. I do not sell anything off my site, I just have it for other Traders to come to a One Stop area for Traders. My URL is www.rpmtradingllc.com If you would like to see something or have any comments or suggestions please by all means shoot me an email and let me know. Well I'll close for now and hope to write more soon.
May your profits be consistent...............................Bob
Trial and Errors
6/13/2007
Talk about ups and downs in the market!!!! I have really had my patience tested trying to get my web site up and running smooth. I feel like the Yo-Yo whose string has been twisted and stretched to the extremes. Just when everything was going smoothly, Bang here comes a glitch to throw you off. I am using Dreamweaver 8 to build my web site and when uploading new information it wont take it and then I have to figure out why. The Markets act the same way. There is a superb Professional Trader that says " Trade what you see, not what you Think" and for many, many years I traded what I thought. One day up and the next day down only to find myself on the wrong side of a Trade. I do want to be honest here and say I am at the point right now where my learning curve has smoothed out and I take only few trades that come along. Not as much yo-yoing. I do well for a little bit and then do crummy for a little bit. I do truly believe that as Traders most of us can relate to what I am saying. Since I am single and have no ties to keep me away from Trading I have a great passion for what Trading brings and have more time to focus on the markets. I know there are a lot of great Traders out there who are gifted and have a quick learning curve. My hat is off to them. For those who take a little more time thats ok. I have been taught by many Excellent mentors and I thank you.
So what am I really trying to say here. The ups and downs in life can flow into your trading if not careful. I hope that you may comment or add to anything that will help any Traders that need that little lite bulb to come on and launch them to there next level. So its getting late right now and I have to close so feel free to add anything and once more, may your profits be consistent.
Robert
Talk about ups and downs in the market!!!! I have really had my patience tested trying to get my web site up and running smooth. I feel like the Yo-Yo whose string has been twisted and stretched to the extremes. Just when everything was going smoothly, Bang here comes a glitch to throw you off. I am using Dreamweaver 8 to build my web site and when uploading new information it wont take it and then I have to figure out why. The Markets act the same way. There is a superb Professional Trader that says " Trade what you see, not what you Think" and for many, many years I traded what I thought. One day up and the next day down only to find myself on the wrong side of a Trade. I do want to be honest here and say I am at the point right now where my learning curve has smoothed out and I take only few trades that come along. Not as much yo-yoing. I do well for a little bit and then do crummy for a little bit. I do truly believe that as Traders most of us can relate to what I am saying. Since I am single and have no ties to keep me away from Trading I have a great passion for what Trading brings and have more time to focus on the markets. I know there are a lot of great Traders out there who are gifted and have a quick learning curve. My hat is off to them. For those who take a little more time thats ok. I have been taught by many Excellent mentors and I thank you.
So what am I really trying to say here. The ups and downs in life can flow into your trading if not careful. I hope that you may comment or add to anything that will help any Traders that need that little lite bulb to come on and launch them to there next level. So its getting late right now and I have to close so feel free to add anything and once more, may your profits be consistent.
Robert
Push and Pull
6/10/2007
First and foremost I would like to thank you for dropping by. This is my first entry and I look forward to many more. What a journey Trading can bring. Up's and down's that are incredible. There have been many times I just wanted to throw in the towel and move on but there has been many more times that I wanted to move past the negative and toward the positive. I have been Trading 9 years. Starting with Commodities for 1 year, Stocks for 5 and now Forex for 3. I have been to numerous seminars, courses and read tons of books on anything that had to deal with Trading. Did I mention the expenses? Holy molly it can get expensive. For the new Traders out their don't let the Market's offer your head on a platter. Hold on to your seat pants and get patience first. Let the Market talk to you. Dont try to make a Trade just to Trade. You need to get some books on Psychology and read them more then once. Time will let you get polished and aged and things will come together for you. It took me plenty of hours upon hours to finally mellow out with the market and wait for my set ups. One good saying that has helped me is " No Set up No trade ". So hang in for a journey full of Push and Pull.
I will keep this short and sweet so feel free to browse my site. After all its free and I wanted to help all World Wide Traders save time. Let me know what you think and may want to add. I am open to all comments and suggestions. Once again Thanks for dropping by and may your profits be consistent.
Until later.................... Robert
First and foremost I would like to thank you for dropping by. This is my first entry and I look forward to many more. What a journey Trading can bring. Up's and down's that are incredible. There have been many times I just wanted to throw in the towel and move on but there has been many more times that I wanted to move past the negative and toward the positive. I have been Trading 9 years. Starting with Commodities for 1 year, Stocks for 5 and now Forex for 3. I have been to numerous seminars, courses and read tons of books on anything that had to deal with Trading. Did I mention the expenses? Holy molly it can get expensive. For the new Traders out their don't let the Market's offer your head on a platter. Hold on to your seat pants and get patience first. Let the Market talk to you. Dont try to make a Trade just to Trade. You need to get some books on Psychology and read them more then once. Time will let you get polished and aged and things will come together for you. It took me plenty of hours upon hours to finally mellow out with the market and wait for my set ups. One good saying that has helped me is " No Set up No trade ". So hang in for a journey full of Push and Pull.
I will keep this short and sweet so feel free to browse my site. After all its free and I wanted to help all World Wide Traders save time. Let me know what you think and may want to add. I am open to all comments and suggestions. Once again Thanks for dropping by and may your profits be consistent.
Until later.................... Robert