3 Simple Ways YOU Can Profit

[CurrencyGuru]

We have a possible Retracement on GBPUSD Strong Resistance

Possible SELL @ 1.6975. Pair could possible hit 1.6996 or 1.70 Range.
I would WAIT for conformation first close below the Resistance level. Remember PATIENTS and WAIT DON'T CHASE the trade there will be a lot more trades.

Enjoy!

-CurrencyGuru

anyone traded the pullback/retracement today? If you did you could have made 20-25pips just off the pullback from the resistance.

Let me know if anyone did

Keep it Simple
-CG

 

[Forexmospherian]

With all due respect I really don't know what he is trying to sell i am assuming it was an indicator as i did not click on the link. I don't need any indicator i don't use indicators. I Simply created this thread called Keep It Simple for a reason. Trading over the years with a lot of trial and error i was fortunate to have a very special mentor and a close friend at a early age who taught me a VITAL lesson about the FX Market and trading. He taught me how to trade like the 3-5% of Professional (Hedge fund) traders as he was a former Hedge Fund Manager. He taught me a few things and also told me not to believe the hype that most of the proclaim professionals traders say.The VITAL lesson he taught me along with the few secrets tips and strategy was really for the most part Keeping it Simple and not complicate and cloud your judgement. Trading is more than just entering a trade, exiting a trade, money management even though that is one of my BIGGEST asset. The metal aspect of trading is also very VITAL. We hear people say having a system, a plan, a strategy, plus Money Management is important which i do agree but i also believe that there is a VERY important piece of information that is crucial that the 3-5% do and know that the majority traders don't do because they don't know. Which in my opinion is the differences the 3-5% of Professional Traders verses the 95% Proclaim Professional traders. I do understand that everyone wont agree with me but that is ok with me. I am not here to convince anyone i am just sharing information to who see it best fit. I have learn over the years to always listen first and always have an open mind.
Thanks for reading

Keep It Simple
-CurrencyGuru

Hi CG

Looking forward to your stop size recommendations.

Also i appreciate that you look upon Hedge Fund Managers as being ideal tutors or advisors to learn from - but personally I would steer clear of all of them with a large barge pole - as it similar to asking a professional coach driver or taxi driver how to achieve the fastest time around a go kart track - ie you would be better asking a go kart pro.

Commercial / Institutional investment FX trading with $100+ mill capital accounts is totally different - ie like comparing chalk and cheese - to retail day trading with 95% of capital accounts under $50k

I would be delighted with a commercial method making me 40% per annum on say $20 million - but for retail - I need that per month - and yes it can be done fairly comfortably and consistently - when not compounding and even taking only 1% stake sizes.

But most Hedge Fund Managers will noy be able to do that - I think 80% might not have a clue on how to do it.

So what ever your Hedge Fund manager has told you - I for one will love to see how it works in the real retail trading world.

Why oh why do tutors and gurus etc say keep things simple ???

Yes its a great saying - and I agree with step by step and micro managing and then trying to cut out all the unnecessary stuff - BUT

If you try to juggle say 7 balls blindfolded whilst riding a unicycle - its difficult - you need special skills etc etc

Well exactly the same for FX trading - you need to learn special skills - or be blessed with them - it just does not happen to most traders over 3 - 6 months - its years - and then years etc etc.

If Lionel Messi or Ronaldo were able to spend 3 months with you giving you one to one tuition on football skills - yes I am sure you and me would improve - but more than likely - unless we fitted into the correct profile - we still would not make it in any Premier football team - there are just so many reasons etc etc

So anybody reading all about profitable FX trading being kept simple - please think again

OK - if you are already a Brain Surgeon or Rocket Scientist or can juggle 7 balls while riding blindfolded on a unicycle - then - YES - you might think "simple" is the way.

However for the 97% of other new traders - realise - its loads of study - focus - patience - commitment - massive highs and lows - mentally draining - and get use to watching paint dry or trees grow over 5 or 10k hours.

Hopefully that will stop a lot of new traders thinking it's easy - and if 3-7 years of learning is no problem - please go for it - you should get there then

Regards


F

 

[CurrencyGuru]

Thank you for your opinion again. There is a difference between saying trading is easy and keep it simple. i agree with some of what you stated but I think you Mis understood what this thread is about. It's keeping trading Simple learning the basics the fundamentals of trading knowing how to identify different patterns such as Chanells, trends, knowing how to draw trend line, knowing how to identify when a pair is in a range etc no where in this thread anything was mentioned about trading is easy and you can learn this in 3-6 months. Like I said this thread is about keeping it simple and understanding and knowing how to identify the different patterns and over time everything else will become more clear. If this thread is not for you, if your too advance for this thread I understand I'm not speaking to you.

Keep it Simple
-CG

 

[Forexmospherian]

OK

Your reply does make sense and if you are assisting new traders to learn the basics and then overtime everything else will become more clear - as your quote - that can only be looked upon as positive.

All new FX traders have to start somewhere - and although you have not mentioned any time scales - its so important that new traders don't think it can all be achieved in a few months or even a couple of years.

Its not possible to become a fully qualified Doctor or Lawyer - or similar profession in under 5 years - and that's how it should be looked upon with currency trading - after all - it is that challenging - and certainly not for all - contrary to what the "industry and trade" put out.

Last point - please don't say you have no stop size policy?

I know of one Fund manager on another site who has been there over 5 years - and all the site members think he's great as he only closes winning positions - whilst meanwhile still as sells on the EU under 1 2800 and on the GU under 1 5300.

Yes he has a multi million dollar account - his stakes sizes are very small - well they have to be if he wants to live with 2000 + pip draw downs - and yes he is profitable - (yes just about - on good years)due to great money management. Hardly a method I would recommend though

I just hope your Hedge Fund mentor was not one of those guys

Anyway - all the best and good trading


Regards


F

 

[CurrencyGuru]

OK

Your reply does make sense and if you are assisting new traders to learn the basics and then overtime everything else will become more clear - as your quote - that can only be looked upon as positive.

All new FX traders have to start somewhere - and although you have not mentioned any time scales - its so important that new traders don't think it can all be achieved in a few months or even a couple of years.

Its not possible to become a fully qualified Doctor or Lawyer - or similar profession in under 5 years - and that's how it should be looked upon with currency trading - after all - it is that challenging - and certainly not for all - contrary to what the "industry and trade" put out.

Last point - please don't say you have no stop size policy?

I know of one Fund manager on another site who has been there over 5 years - and all the site members think he's great as he only closes winning positions - whilst meanwhile still as sells on the EU under 1 2800 and on the GU under 1 5300.

Yes he has a multi million dollar account - his stakes sizes are very small - well they have to be if he wants to live with 2000 + pip draw downs - and yes he is profitable - (yes just about - on good years)due to great money management. Hardly a method I would recommend though

I just hope your Hedge Fund mentor was not one of those guys

Anyway - all the best and good trading


Regards


F

Thank you for replying to answer your question quoted
"All new FX traders have to start somewhere - and although you have not mentioned any time scales" The reason is every individual is different learning, skill level comprehending information, some learn or grasp things faster than others etc. so its bases on that individual learning ability on how fast or slow they learn a particular concept.

" its so important that new traders don't think it can all be achieved in a few months or even a couple of years" This quote is not for everyone because you cannot determine someones passion and determination, belief system and what they put in day in and day out regarding screen time etc to make a bold statement as such "new traders don't think it can all be achieved in a few months or even a couple of years" it may not have worked for you in a few months or a couple of years for what ever reason, but i believe its unfair to make a BOLD statement maybe because of how things worked out for you or maybe other you may know that still doesn't make everyone equal. That's your belief and maybe YOUR thought process which is not fair to plaint into a persons subconscious mind. Now that new trader is thinking I CANT TRADE because its too Hard. Which in fact the first few mistake that they make or the first few learning curve they may have giving up because they remember you stated that they wont get it in X amount of months years. I do understand what you are saying in some sense but to word it that way some new trades may believe that they cant accomplish this SELF RELIANT LIFE CHANGER called Forex. This vehicle has changed my life and my families lives Financial and im sure thousands if not millions of people can say the same across the world. We are all human beings and if you can do it why not me. I try to instil the positives into people as well as honesty because my integrity is IMPORTANT to me. So I believe having a good mentor that know what they are talking about understanding all aspects of the market and trading over time things will start to get clear so i am trying to Keep it Simple in the simplest form and with trail and error things will get clearer as they continue to trade and put in that screen time. I did and it worked out for me and i am thankful for sticking around and not giving up. I had my moments of giving up saying its not for me back that's when you should push even hard because that means you are close to the finish line which is the ultimate goal.

Sorry for the long post everyone i am just passionate about FX trading and want to help individuals who believe or told that trading is HARD. Its Buying at Support and Selling at Resistance don't complicate it any further. The obstacle is " YOU" the individual.

Keep it Simple
-CG

 

[CurrencyGuru]

Sorry i don't think i answered one of your questions. I am not recommending trades here. No recommendation simple FREE Tips, Simple Basic Strategy YOU can profit from and my Technical Analysis for who soever find them useful. I will never recommend because each individual account size is different, each risk tolerance/appetite is different. I am giving away FREE INFORMATION use it if you see it best fit if not don't use it, they don't have to wast time reading it if they don't want to.
lastly you mention quoting
"Last point - please don't say you have no stop size policy?" Everyone account size is different, everyone trading skills, strategy or style can be different. Everyone risk tolerance like i mention maybe different so again if they decide not to have one and there trading strategy and plan plus good money management etc and has proven over and over again over X amount of months/years with a high profitability. I would believe that if that's what they choose and its working for that or those individual then i think that its also unfair to make a commend as such. Because once again you are tell other traders that this cannot be done. I personally know individuals who have done that and some that still do. One in particular who deposit 20k into there account and within a year and a half time frame there account balance is near the 2 million dollars mark with no " Stop size policy" its way over 2 mil at this point but the first year and a half that was made with no " stop size in place. This a real account guys/gals i am not playing here like i mention to you i am a honest down to earth person and i cherish my integrity because that is what got me where i am today and i am grateful for that. Let me make this clear though i am not saying that everyone can accomplish this all i am saying is that anything is possible with the proper/right mentality/ coaching, passion, dedication, influences around you i rather positive influences i stay away from the negatives ones. I surround myself with like minded individuals for a reason etc i can go on and on as you can already tell because i have a passion for trading and helping people. Thank you for reading

Keep it Simple
-CG