April, 2015 Month End Review 

Are You Kidding me?????

The month of April, started wonderfully, but ended going down in flames, and started the month of May off at loss. Yes. This is the 3rd straight month of losses. Am I concerned? slightly. Discouraged? Not one bit. 

How did this happen?

Since March, 2015, I have been trying to develop the perfect trading system.
Note, I did not say The holy grail. I said The perfect Trading System. The Perfect trading system must have have four (4) specific, non negotiable characteristics.
1. It must compliment the trading personality of the GBPUSD.
2. It must compliment the trading hours that we trade.
3. The trading signals ( Entry, Exit, SL) must be clear and unambiguous.
4.  The system must be simple to understand and apply.
Coupled with the Trading System, there must be the Perfect Money Management System.
Let's face it. It is quite possible to have the world's greatest, most profitable trading system in the world, and you can still blow up your account, and lose all of your money. How? In three (3) easy steps.

1. You bet the farm. ( Too much risk)

 2. You lose. ( Losses can and will happen. Even with a trading system that wins 99% of the time, its' that little 1% when the system randomly loses, when you bet the farm, is what kills you.

3. You're done.

 I, like Thomas Alva Edison, ( the inventor of the light bulb) have been experimenting to see what works, and what does not work, and I think I finally have put together the PERFECT Trading system. It satisfies all the requirements I have, and it confirms trade entries twice. That's right, twice.
Here is what it looks like.

I have changed the background color to white, highlighted the trading hours in grey, changed the moving average colors so they are easier on the eyes, changed the candle colors, changed the ma cross arrow to red, and I have added the secret sauce. You see that little black unassuming arrow? That, my friend, is the secret sauce. That is The Black Ops Trend Confirmation Arrow. This arrow lets me know when the trend change has been confirmed. Yes, I am quite stoked! After months of working 7 days a week to make this happen, I finally see the "fruit of my labor". I believe this trading system will be THE trading method, that will turn a small $1,000.00 account into over $ One. Million. Dollars.

My Black Ops Trend arrow identified the trend as being bearish, the entire trading session. The entire session.    

I cannot wait for the next trading week to start. I am so excited to see what May will bring. To get rid of these draw downs, and move into consistent profitability, will be a thing of beauty indeed. 

To my critics that say I can't do it, and  that it cannot be done, I want to say thank you, from the bottom of my heart.  You motivate me more than you will ever know, and besides, it is free publicity. :)

One more thing, how may traders, professional or otherwise, are willing to trade publicly?
It's easy to talk the talk, but things get a lonely when it actually comes time to come from behind marketing pages, slick advertising and teaching. Not to many of the so called gurus are willing to risk their reputations by actually doing what they teach others to do, that is. Trade.    

Have a great weekend. I have been working non-stop since Friday, May 1. It is time for me to get my weekend started.

Best, 

CII

Thursday April 30, 2015

I've Had Some Losing Trades, Now What?

Persuing Peace In The Midst Of Pain

Today, I have been rocked to my core. I've made 4 trades. 1win, 3 losses in a row.

I supressed the urge to system hop, and I suppresed the urge to just quit. I immediately put on the next trade.

Don't get me wrong- I am feeling the pain and the pressure, because I make a significant portion of my income from trading. I *MUST* make money trading, PERIOD. 

I am the primary trader for both The FAPWINNER Live Trading Room and The Million Dollar Trading Challenge. So, when I don't trade well, the whole world knows, and then they starting chatting in chat room, blogging and slamming me in forums. Geez, it's tough being "The Floyd". Everybody expects you to have winning trades all the time. Can I be honest, I secretly expect that same thing...

Todauy has been, up to this point, has been tough. I will go for a few days without losses, then, as if on que, the FOREX market becomes a pip collector and takes away my pips, simply because I have not been losing. I am sorry. I broke the code. Ther code that says if you are in the 95% that lose money, you cannot escape your class. What was I thinking? I will tell you. I was thinking that I actully had graduated to becoming a member of the elite 5% that actually make money. Silly me. The market is a great humbler.

But I still took the next trade. Becasue all I am really looking for is one good trade. Really? Yes. one good trade.  

So.. What happened? Why the string of losses Mr. Guru? 

Well. I took trades that I thought was going one way, and the market went the other way. Simple. 

That's it? Yep. That's it. I learned the following lessons, and they have served me well. Maybe they will help you, too, when you are dealing with drawdowns, and are thinking of system hopping, quitting or worse, taking some really stupid trades to try and "get your money back". 

1. Trade with a risk/lot size that you will not commit suicide if you lose. 

2. Don't trade with money that you cannot afford to lose. 

3. Trade according to your trading plan, and do not deviate from it during trading hours. 

4. Keep a trading journal, and review all won and lost trades. 

5.  Know when to quit before you start. 

6. Walk away if you feel like you are getting sucked emotionally into to trading. Just walk away. 

7. Accept your loss(es), and move on. Live to trade another day. 

8. If everybody could trade, they would. You are special, because you ARE a trader!

When I am done for the day, I will post the chart for the day, and update my stats. 

Thanks for reading and following my blog. 

Best, 

CII 

      

Wednesday April 29, 2015

Synopsis will post when all trades are closed. 

NEWS BLUES

A slow Death by 1,000 cuts

Today is a day that I will never forget to remember. Today was the release of The FOMC. It was one of the longest trading days I can remember. It was S....L.....O....W...... and the market went nowhere quickly.

Here is the chart of today.

I took 3 trades: 2 closed for a net loss, and 1, as of this post, is still open, and is BE+3.

The market basically whipsawed today. It was making so many updownupdownupdown  so much, I thought that I was listening to that song from the TV show, Empire.

Since the last trade of the day has not closed, I will wait to post the synopsis and tell you how dangerously close I am to falling over the proverbial cliff, with no possibility of making a million by the end of this year.

-Stay tuned.


 

Tuesday April 28, 2015

Trading Synopsis For Today

New Million Dollar Goal Date: 11-16 2015 (unchanged) 

Original Balance: $1,000.00
Prev. Balance: 776.04
Current Balance: $786.26

Session 1: 3:00-7:00 am
GPBUSD GDP q/q was released. Scalped the market for a quick +15 pips. Nice way to start the trading day.

ARGGGGHHH!!!!! I *ONLY* made 51 pips!!!! I am NOT HAPPY!! Let me explain.

I have an account manager that closes all trades when my equity (profit) goal is met. Today, the GBPUSD looked like a rocket ready to blast off with me in it. The last two times the ship lifted off, I was not in it. I am all set to have at least a 100 pip day, smiling to myself, breaking my arm patting myself on my back, and actually believing that I am in fact the guru of all gurus ( never believe your own press clippings...)... and then it happened. The EA closed my trades and loudly proclaimed "YOUR GOAL HAS BEEN ACHIEVED! CONGRATULATIONS CHARLES!". (Yes I programmed the speech part myself). The market is still moving up! AARRRRGGGHHH!

I am done trading in session 1. Let's see if there are any trading opportunities for the early US ( Session 2), or late US ( Session 3). Right now, I am going to sit in my corner, pout, and cheer on the guys that are still in the trade, in The FAPWINNER Live Trading Room.

If you would like to trade with us, or would like more info, please email livetradingroom@fapwinner.com.

Monday April 27, 2015

Our hearts, thoughts and prayers are with the families and victims affected by the recent earthquakes.

New Million Dollar Goal Date: November 16, 2015 (-2) 
Original Balance: $1,000.00 Current Balance: 776.04

Today is a no news day, so trading may be in a slow gear grind. 

Session 1: 3am-7:00am- No trade setups.
There was a short continuation setupfrom Fridays bearish Bias, but the trade came while I was sleep.

Session 2: 7-10am. 

Shortly before 10:00am, I caught a beautiful bullish move, and I have locked in a bit more than +40 pips. I am letting the trade run. 

Session 3: 10:30-3:00 PM.

I closed the trade at 3:35pm CST. I almost bought the low of the day, made my goal, and shaved 2 days off my goal date! Happy Monday! Below you see our actual end of day stats for Monday April 28, 2015.

  

Million Dollar Trading Challenge Weekend Review

...It Begins.. My 2nd Trading Loss in 5 Days. 

New Million Dollar Goal Date: November 18, 2015
Original Balance: $1,000.00 Current Balance: 761.88 

 BB King, a blues legend, sings a song called "you might have made your move too soon". Obviously, he is singing about a woman that broke up with a man, just before things turned around for him. If she just had waited a little while longer, she too, would now be enjoying the benefits that he is enjoying without her. She made her move too soon. This applies not only to relationships, but also to Forex trading. How? A picture is worth a thousand words. Let me give you the picture.

The dotted white line to the right marks a new trading day. On the chart, that would be 11:00 pm CST/midnight EST. At the stroke of midnight New York time, the market took off. 

I went to bed at 10:00 pm CST. When I woke up at 245am CST to begin my trading day, this is what I was greeted with. I went to sleep at 2200. The market takes off at 23:00.  I made my move too soon.

I am feeling the blues right now. Here is Mr. BB King to help me lament. https://www.youtube.com/watch?v=436114vtQKU

Since the rocket has taken off without me for the 3rd time this week, I am going to wait and see if the US session will give me any opportunities to make those elusive +20 pips I need. Not only did I NOT get the 20 pips I needed, I LOST PIPS. There is no point in hiding it. I am bummed. Each day that I do not make my goal, the goal date is pushed further and further out. Bummer. 

Here is the entire chart for last weeks trading. 

So what now? KEEP TRADING!! 

The best way to trade your way out of a trading slump is to take the next trade, because all we are really looking for is just one good trade. 

What Happened?

The markets are largely random. Yes, the "Big Boys" do have a certain amount of influence, but that fact remains that the markets are largely random, moved by the twin towers of greed and fear. Looking back over the week, I added some trades that were not part of my trading plan. I saw some setups, and I fell off the wagon. I did something that I tell others NEVER TO Do- ( Physician, heal thy self) I traded outside of my trading plan, and it cost me big time. Lesson learned. Never again will I do that. I added in one fell swoop 5 days to by trading goal date. The idea is to DECREASE the days, not increase them.

I Have Only 2 Options Left To Earn $1,000,000.00 By December 31, 2015 

1. I must win  +20 pip each trading day until that date.
2. I must have winning trades that are at least 2X  larger than my daily goal to decrease the goal date. 

Trading Game Plan For The Trading Week of April 27, 2015.

1. Do not deviate from my trading plan.
2. Keep my risks small, and let the trades run to earn a min of 2.5:1.
3. Erase EACH individual loss to decrease days to goal, and increase equity. 

  

  

 

Thursday April 23, 2015

Trading Goal For Today: +20 pips. or $6.00 Prev. Goal Date: 11-10-15 (+4 days).
Current Goal Date: 11-13-15 ( +7 days) Pips This session: -25 pips  Goal Met? NO.

My First Loss in 9 trading days

Caution: Wet Paint Drying: Boredom Ahead 

Today was another one of "those" trading days, where you sit for long hours, waiting for that elusive setup that never comes. The GBPUSD has been quiet for the better part of the trading day. All sorts of thoughts have been running in my head-namely, look for another trading system. Why would I think that? I will tell you why. Here are the reasons why I should NOT be thinking of changing trading systems.

-1 net loss since I started trading my new trading method 1 week ago.
-It is highly mechanized, so it does reduces stress and emotionalism.
-It has audible and pop up alerts that allow me to step away from my screen.
-It is consistently profitable, and has given me my best recent trading performance.

Here is the one reason  that I am thinking of changing trading systems. Ready?
- I am bored and tired of waiting for a setup. Really? Yep. I know. Stupid.

The number one reason that traders "system hop" is because they get bored waiting for setups.
As traders, we crave action. We want to be "doing something". Let me push a button,  moving a stop loss, draw a line, bur please don't make me just sit and wait.  I would rather get into a trade and take a loss, than to sit and...wait.

It is during this space of time where we are doing nothing, because we are waiting for the next trade, that we start to think of "missed opportunity costs", and our minds wonder and wander over to that other trading system that we heard about.  We start to surf the 'net and "look around", and see if there is a system that will get us into more trades, so that we can spend less time, just...waiting. The truth is we get bored- plain and simple. Bored.
Guess what? Trading is boring, if you are doing it right. Today I was bored out of my skull, because I did not trade like a rapid fire machine gun buysellbuysellbuysellbuysellbuysellbuysell. I waited. 

A profitable trader is one that has mastered the art of waiting. Waiting for the right trade. Waiting for the target to be hit. Waiting for the swing to develop.

I heard a quote recently about guys that work on a bomb squad. These guys are notorious for being slow, and have mastered the art of waiting. Why? Because the next bomb they attempt to diffuse, may be their last, so they say, Slow down! Don't be in such a rush to die. That resonates with me. Rushing into trading can lead to that one trade that blows up your account. All of a sudden, waiting for the next trade, does not seem like a bad idea after all. Today, I lived to trade another day. Why? Because I learned to wait.

I still have a trade open ( Long GBPUSD), so I will wait to update the blog until my trade has closed.

I took my first loss in 9 trading days today. Here is the chart of today's trading.