Monday, 28 June 2010

"It's Amazing......."

Training: Attendees, you should have received an email from me regarding video and sound check.

The dogma is that 90% of traders lose. I'm not sure what that exactly means. Whether at any one time 90% of traders are losing or whether 90% of people that attempt to become CP get blown away and that the other 10% are added to an ever growing pool of CP traders.

But whatever the exact definition is, a huge percentage of new people trying to become CP fail. I've seen it, I've heard it and it's a sad fact. There is an ever increasing pool of people who take the other side of my and other CP traders. It has to be that way because it's a zero sum game. It needs people to bring in new money otherwise there would be none to earn.

I remember brokers in the U.S. who I knew well using the old soya bean expression about clients: old crop and new crop. The old crop were the clients who had been around for almost 6 months and who were just about out of money and the new crop who were the newest bunch of clients that the brokers had found who were still cash rich, but sadly would be "harvested" in the coming months.

One of the readers, Dave, in a comment to Friday's post thought "it was amazing" that I was trading well. It is amazing to the people who can't trade CP because it seems an unattainable goal.

Let me say it clearly AGAIN.

Trading can be learned. But it has to be learned in the right way. This blog has the information on how to do it. I have by now probably over 50 emails from people who I do not know but who have told me they achieved CP by reading the blog and following the road map they have found here. About 50 people who did all the hard work and reached their first goal: Consistent Profitability.

This stuff works if you follow it with the right mental attitude. No short cuts. No over trading.

The people who have taken the training have bought a shortening of their learning curve as it will reduce the time the need to get to CP. We are just a couple of weeks away from starting. I'll be blogging about how it's going and I'll also try and get some of the attendees to be guest bloggers and tell you all how the training is going.

Today's trades started with a gap type trade which extended right through the VA. Nice stuff and easy to see. Didn't need much thinking as there was plenty to lean on.


  1. I have read this blog almost in its entirety, and there is a wealth of knowledge here. And the types of things to watch for are one way of reading price and volume that definitely work for a discretionary trader. But I'm puzzled as to how you seemed to be shorting all the way from 1067.5-1078.5 when cum delta was telling you a different story.

  2. Tom, if you would have to pick only one or two reasons to get out from the bad trade, what would will it be.

    One of the reasons would change in context, but would you go technical on me and answer based on examples provided?

    Example: 6cci opposite direction 0, crossover 33 in opposite direction, etc....??

  3. Hi EL,

    great post and true. Yes, it can be learned, if you are on the right path. But most people are starting out on the "wrong" path by, f.e. hoping into the "forex market" promoted by the ever growing pool of forex market makers, not knowing, that the lack of volume and order flow data puts them in a disadvantage right from the start.


  4. Brandon, Like most locals, I have a bias for the short side - instant gratification. Also the CVD is not the be all and end all - strong hands hide what they are doing and its revealed in different ways.
    Anon 22:58, its when the picture changes. In any case, I'm scaling out as the move progresses as I don't know how long it will go on for. Scaling out is the best exit.