Archive for August, 2009

Videos! Forex Scalping Reality

Tuesday, August 11th, 2009

Well, producing these videos has been a far greater challenge than I had thought it might be. :-(

Quite simply, it’s…a pain.

Just by the nature of the way that all screen recorders work, having to capture mouse movements, every flash of the broker quote panel, the narration, etc…my entire computer is slowed to a meandering crawl…and this with a “top of the line” video production tool.

I have tried various screen sizes, frame rates, and more. No matter what, the results are only marginal. It takes more than 3 hours for my computer (and it’s a rather fast one) to render the videos so that I can make them available to you. During that time, I can’t use my computer at all…for nothing…no email…no web browsing…no support tickets…and certainly no trading.

I’ll figure out a better method soon, and I know you’ll be patient, like a patient forex trader, while I figure this out to make it work well for all of us. Thanks!

No big deal though…we have some videos right now, right? :-)

I tried to record a couple of excellent examples this morning (Tuesday, August 11, US/Central), but nothing worked. :-(

But…I did get some decent videos from the 1:00am US/Central time — the first part of the European Session Open.

I traded this one with small lots on my FXCM MicroLot account. As I’ve mentioned, and again now, with the video recorder running while I’m trying to trade, I’m just too concerned to take large lot trades. Maybe I’ll be able to do that later when I have the video recording issues worked out.

You’ll see first hand how the screen recorder competes for my computer horsepower, and how it effects my order fills. Think about this from your OWN experience, too. What might be running on YOUR computer that you can shut down while you trade? (Hint: Only have your charts and your broker platform running while you trade!)

The trade example in the video…is not exactly a perfect setup.

There is a reason I am doing things this way.

I want to show you FOREX TRADING REALITY.

These videos will include ALL market conditions…and maybe best of all…I will be trading “like you might trade”…at least for a while. :-)

And, for those who are allowed to “see more behind the curtain”…who are more experienced, you may see an occasional loss. But, as I have discussed elsewhere on this blog, I’m rarely going to post a loss here on this blog. Yes I have them…but I just don’t want to show you the wrong way to trade…I want to show you the right way to trade.

Would you want to take golf lessons, and have the instructor show you how to do it wrong? I sure don’t. It would be okay if they showed me “things that might fool me”…and give me some correction, but I likely wouldn’t pay much attention to him otherwise. Would you rather watch Tiger Woods SHOW YOU how to correctly hit a golf ball…and then guide you to improving? Or, would you rather him show you how to do it wrong? Or, would you rather hire Joe Almost, who really can teach you, quite well in fact, how to hit the ball wrong? (Not me.)

It’s something that some of you may not like…that I don’t post losses…at least not many…and I can certainly respect your skepticism. But, I did NOT say I don’t have them. If you want to see them, then you’ll need to become a “closer part of the Logical Forex family”…and that opportunity will be available to you soon.

Now…why am I telling you this right now?

Well…because I’m also posting another trade example, using my “Big Boy” Currenex account. I don’t take a large lot trade…for the reasons I’ve already mentioned…but you’ll be able to see how differently a professional trading broker platform works…and all in a trade that is, well, not ideal. :-)

Yes, you too might be able to setup a Currenex trading account like I have. If you are wondering how to do that, just open a support ticket and put “Brokers” in the subject line.

One more thing…these videos may just chase some of you away. That’s fine too. I want traders who want to deal with the reality of the forex market…AND THEMSELVES. I want to eliminate all the fantasies that each of us have. Yes, I have them, too, but I have overcome them (mostly) by the way I trade with the Logical Forex Trading System. Yes, I will post “bigger wins” and other things you will definitely enjoy…but let’s start with a reality that is most likely your reality that are experiencing right now.

Once you see these videos, you WILL “see yourself” in them…those odd emotions and decisions…and you WILL be able to see how you can really become a professional forex trader…with your determined effort and your commitment to YOURSELF.

And, of course, some of you are have accomplished much already in becoming an expert Logical Forex Trader. You know who you are. :-) And, for you, there will be a much more advanced level of materials available soon.

Start practicing. Read everything. Believe in yourself. I’ll get you where you want to be…but it’s not going to be an “overnight success”. We want a long-term, fully entrenched, consistent process to allow us to be a professional forex trader, right?

Enjoy these videos…and be prepared for a LOT more material soon…just as soon as I can get my computer thinking more quickly, and have a consistent, reproducible process for making good videos for you. Hmmm…consistent … reproducible… process…frequent topics around here, huh? :-)

And now…the videos…

These videos are NOT “quick, short videos”. The first one runs about 30 minutes, the other about 50 minutes. Is it worth your time? That’s your call. How serious are you? How committed are you to yourself?

First…a 3.5 winner…but it’s going to tease you…and you’re going to ask a LOT of questions. But, remember…the questions you are likely to ask…are really questions that only YOU can answer. Really “put yourself” in the situation of the trade example.


Play Video (in new window)

Now…the video that you may learn the most from…

Here’s the setup…and how many people might tend to enter…click the images to enlarge them…

EUR/USD Trap Setup...for Some Traders

EUR/USD Trap Setup...for Some Traders

But…if you are patient and let price dance around magnet lines you can do better. Much better. Much more often. Remember, Logical Forex Magnet Lines are not simple support and resistance lines.

Asking a question based on the old candlestick method…is simply not relevant…and is dangerous to your trading health…a question like…”do I trade when it just ‘breaks through’ the support line, or must it close above it”. Stop thinking this way! These questions CANNOT be used when trading The FLOW of The Market. Think about it. :-)

Here’s what happens when you are patient (with the same basic setup…but I allowed the price to “do it’s traditional dance” around the Logical Forex Magnet Line. How do I know that is going to happen? I don’t for certain…but I do know my currency pair, like my spouse or my best friend…and I know its normal tendencies…so I allow the to patiently happen. If these normal tendencies don’t happen, that’s okay too.

The Patient, Mature Forex Scalper

The Patient, Mature Forex Scalper

Now, watch the video to see what really happens most of the time when trades setup. Are you sure you’re really up for trading professionally?

Yes…yes you are.

Again…do you “see YOU” in these videos? That’s my intent. :-)


Play Video (in new window)

Keep that commitment to yourself! You WILL succeed. You WILL have something that NOBODY CAN EVER TAKE AWAY FROM YOU.

-Greg


Automated Forex Robot Robbery?

Monday, August 10th, 2009

I want to start by telling you how amazed and appreciative I am for you. All of you.

In my last post Do You TRADE, or Gamble?, I asked you for your commitment. Not to me. To yourself. If you haven’t already made your public commitment (or privately in a support ticket), now is the time to take action.

I have been pleased beyond anything I had imagined. Many of you “stepped up” and made a commitment to yourself by starting a trial of the Logical Forex Indicators. That’s your first step…and a vital one. Many of you also have committed to experiencing a Private One-on-One Forex Workshop…some “right now”, and others of you in a few weeks. Again, my congratulations to you. You have done things for yourself that you can’t exactly imagine yet.

You’re actions have been recognized. I will also “step up” in my delivery of essential information that you need to become the trader you know you can be.

I will be providing some additional materials. Some will be available for free. Some materials will require you to register in special ways (I’ll tell you more later). And, some will absolutely blow you away in the information I’m going to be teaching you. In particular, I’m going to have various levels of “membership” where each level will have more and more exclusive access to my private trading information. Much of this will be delivered in videos. You’re going to love it. :-)

Now, let’s move on to a very popular topic…for those who are not quite ready to be professional forex traders…and that’s people who insist on an “automated system that draws arrows on the chart, telling them when to trade”, or perhaps even worse, those who want a system that is completely “automated”…like an automated forex robot trader.

Believe me. I know where you are coming from. I’ve been there.

Now, I know that what I’m about to show you will have an effect of SOME kind on you.

It may annoy you.

It may confuse you.

It may scare you.

It may make you think I’m crazy. (Even if I am, pay attention to the facts.)

But no matter what…it WILL have an effect on you.

If it doesn’t you’re either dead or living in a fantasy land. Maybe both.

Keep this in mind…I may be wrong. What I have discovered here could be MY fantasy. Maybe my math is wrong, or I’ve interpreted something incorrectly.

And, if that’s the case, I want yo to tell me about it. I do NOT want to mislead ANYBODY for ANY reason… and especially about forex trading and your money.

And, remember this, too…

I’m merely the messenger here. Don’t shoot me. I didn’t create the automated forex robot you’re about to see, or any other kind of automated “draw-an-arrow-on-my-chart-to-tell-me- exactly-when-to-trade” package.

I simply don’t believe that the RISK that those things cause you to take…are worth the profits that they CLAIM.

Did you hear that? The RISK is WRONG in almost ALL automated forex robot systems. In fact, it’s a killer.

Even a part-time gambler wouldn’t take RISKS like tese forex robots do (or even the “tell me when to trade with arrows” systems do, although they tend to be a bit safer). Worse, these robots and other similar packages (automated or not) often FORCE you to take trades…just to “keep the numbers right”. Ugh.

And a professional gambler? well, they *especially* wouldn’t take risks like these other systems put you in.

One last thing…before I show the nasty facts about this particular forex robot (and ALL similar software that “tells you when to trade” (automated or not)…

I DO understand why automated forex trading software is appealing. I DO understand why “arrows on your chart” is so appealing too.

If you have a full time job, you may THINK you don’t have time to trade, so you want to have things automated…and engineer-types and logical people REALLY want to believe that a “mechanical automated process” exists for trading forex. It doesn’t. It can’t.

Why?

Because the market is made of people! Emotional people!

So, you want to believe that you can have an algorithm “figure it all out for you”…and then you pile on to your belief that you don’t have time to trade.

Let’s say you DO allow an emotionless robot to trade for you. to make YOUR choices about YOUR money (I already don’t like the sound of that, do you?)

Here’s the scenario…you’ve setup a trade or “started the robot”…and you head to work.

What’s on your mind the entire time you are at work?

Do you “check in” to see how the robot is doing? (Can you even do that?)

Is this behavior ethical and proper towards your employer? (uhm, no)

Okay…so how CAN you find the time to trade?

Well..can you find 30 minutes to 1 hour to trade logically?…with YOU in control?

I thought so.

And, when you are done trading, you are done. Go to work. Go to play. But, either way, your mind will be free and you can do what you want to do or need to do.

Now, what about those who “want arrows” telling them exactly when to trade?

Do you really trust that those “arrows” work? How many times have you tried that already?

Are you just seeking another possible “mechanical” or semi-automated solution — that’s likely not to work…again?

You know what might be underlying that?

Fear. You might not be up for the challenge of really “owning up” or being responsible for your choices.

You’re not THAT kind of person are you?…seeking to dash away from your responsiblities or to blame others?

You see…if those arrows DON’T work…can’t you easily BLAME the indicators or the “semi-automated system”…and claim no responsibility because “IT” TOLD YOU TO TRADE?

C’mon. You’re better than that. You’re smarter than than.

You don’t really want somebody else making critical choices in YOUR life about YOUR money, do you?

How much control WILL you relinquish to a trading robot? a semi-automated “arrows on your chart” system?

How much of YOUR life are you going to “give away” and trust to somebody else?

Would you trust your child to a robot babysitter?

Would you trust your money to one?

Would you trust it to one that was even semi-automated?

I sure wouldn’t. Would you…REALLY?

YOU need to be in control of YOUR choices. YOU need to be in control of YOUR money. YOU need to be in control of YOU life.

There’s only one way to do that…

YOU take responsiblity for your choices. YOU become equipped to do that, using your existing skills of thinking logically and smart…and seeing patterns that repeat…and the making YOUR choices based on your experience…

That’s the way you live right now, isn’t it?

Or, would you rather give a robot control over your choices?

How about giving away your ability to choose…to something that would take MUCH GREATER RISKS to you than you would EVER do to yourself. Would you actually do that?

I didn’t think so.

Now, let’s get on with it. Pay close attention.

What you are about to learn is, well, sickening. Disgusting.

The bottom line is, you may have already been misled and be using this automated forex system “robot” or some other automated system or one that draws arrows on your chart.

If you are, and you are having success…then I congratulate you. i don’t want to waste your time. You can leave now. Oh, and good luck. You’re going to need it.

But, you better seriously review what kind of risk you are putting yourself in by using those automated robots or “arrows on your chart” systems.

For the rest of you who want to KEEP CONTROL of your choices and your life, and aren’t willing to trust a robot or system that has complete DISREGARD and DISRESPECT of YOU and YOUR risk tolerance and financial stability…

…then…watch the video.

I’m going to tell you…I start out with some fun stuff.

Why? I’m start out on a light note in the video, because when you’re seeing what the truth is about that nasty robot software , you’re going to have a very uneasy feeling in your gut about it…or any other similar thing.

I know when I really saw what the forex robot is doing, I honestly wanted to throw up. Hurl. Vomit. And…that’s coming from somebody who doens’t have a lot of emotion on most things (other than my relationships with people).

The good news is…at the end of the video, I’m going to show EXACTLY what to DO and HOW to trade by making your OWN choices…and doing it sensibly and responsibly and smartly…and your results WILL far far surpass anything any automated forex robot or “tell me when to trade” system could EVER do…and with almost NO RISK to YOU…while allowing you to trade in short periods of time than you can imagine (1 hour per day or less)… and you won’t have to draw trend lines and fibs and interpret candles…

These automated systems don’t make you do that either…draw lines and such…but the exchange for that is YOU lose control AND you will have an emotionless robot putting you at HIGH RISK for total financial ruin.

Okay…learn the truth now. and I mean THE truth.

Watch the video. Ii runs about 1 hour at a VERY fast pace. You won’t even realize how fast the time has passed, and you ARE going to use your Logical brain…AND your emotional brain…your COMPLETE BEING…and that’s what it takes to trade consistently and profitably…

ALL of YOU making GOOD choices…and you can do that FOR yourself.

You just need a good structure and process.

Any automated forex robot…or “arrows on my chart system”… ain’t it.

Logical Forex is.

But, let’s see how it all compares…

Go! Start the video now.

And…please…come back to this page and talk to me. I really want to hear your comments.


Play Video (in new window)




Do you TRADE Forex, or Gamble?

Thursday, August 6th, 2009

I am just now getting the chance to post my trade example…the trade I took nearly 10 hours ago.

Normally, I post my trades shortly after I take them. It always takes me 30 minutes to an hour to make all of the chart images, size them properly, upload them to the server, write all of the text that you read…and so on. It’s just “stuff”, but “stuff” I have to do to keep you informed and equip you to become a true professional forex trader.

Doing this “stuff” isn’t too bad. And, I enjoy the results a bit, too…but it DOES take me quite a bit of time and commitment. (Very common words these past few posts, huh? These “words” are EVERYWHERE).

But now…the past seveal days…things have changed.

I almost feel like I’ve been gambling some, instead of  trading.

Do you ever feel that way?

Some people love to gamble. I’m NOT one of them. In fact, a very impressive trader who experienced a Private One-on-Workshop with me…well…he was a professional gambler. He has carried some of his skills…the ability to trade the PROBABILITES being the most beneficial skill perhaps…into his Logical Forex trading. He is a very impressive person…and can trade very differently than I do.

But, again…for me…I really don’t like to gamble. Yet, I have had that “gambling feeling” far too often recently.

It’s coming from an odd place.

You see, I’ve made some commitments to you recently to provide some additional materials to help you become a more successful forex trader.

This has been a much greater challenge than I had anticipated (predicted?).

I have been recording videos of my trades.

This has been VERY costly to me.

I’ve explained this in another recent post…when I am recording my screen, there is a LOT of computer processing power going on…things that interfere with my trading…which slows down my trade execution fills…even on my “Big Broker”.

With late fills, caused exclusively by the screen recordings, I can’t ever really get in and out “like I used to do”.

Now, I have been experimenting with this for the past 3 weeks or so. This isn’t a “maybe thing”. It’s Real thing. I don’t like it.

So, this week, I’ve changed things around a bit. I’m taking my bigger lot trades WITHOUT ANY kind of recording of the screen happening. I simply don’t want to GAMBLE that the video recording MIGHT interfere with my professional trading. That would/could interfere with my ability to make money trading forex! Not Good!

So now, after I have completed my “Big Trade”, then I have been recording other trade setups. They are not “the best”, but they have still been EXCEPTIONAL times for EXCEPTIONAL training opportunities.

I have been able to record some fantastic “fake outs”. You’ll be able to see how I simulate how many people might trade…and I go into detail on why NOT “take the trade”…but still take it anyway…just so we can “experience it together”. :-)

The first videos that I’ll be releasing will no doubt, separate those who are seeking the Holy Grail from those of you who are SERIOUS about trading. Committed. Determined. You know who you are. :-)

The best thing these first videos will show you is to expose what many people do and how they trade when initially “learning” Logical Forex, or even after they have been trading it for a while. I show you how to improve and stop doing those things that are causing you to lose. And, you’ll REALLY enjoy it…because when I take these trades, I give you “fair warning”…that…”this will likely not work, but let’s try it”. Then, you’ll get to see how I react and handle the situation…with of course some “time for teaching”…so I don’t always show you the exact way to trade “in and out quickly” in some of these initial setups. (But, I’ll cover that, too as we progress.)

Probably the biggest challenge I have with producing these videso, is the incredible TIME that it takes me. I made a recording last night shortly after I had taken my “big trade” (which I’ll post the chart images below). So, I started my recording…and what I had hoped would be may 10-20 minutes, turned into an hour of recording. (Like I said…if you are SERIOUS about forex trading…you’ll “suffer through” watching this one to the “bitter end” — a nice winner.)

Okay…so I made the recording…spending an hour of time that I hadn’t planned on…forgive me, but I was tired as I had already worked non-stop for nearly 12 hours already…and then took my big trade which took me almost 35 minutes of “patiently waiting for the trade to setup”…and then I started recording the training video…blah blah blah.

Well, after I recorded it, I have to blur out some private and confidential details…like my account numbers, and such. (You wouldn’t want to expose your details would you?) Well, this takes 10-15 minutes minimum, but on this hour long video it took a LOT longer because of some of the trading details I show.

I could have been resting. I could have been trading. I could have been doing many other things. But no, I have made a commitment to you. Are you as commited to yourself as I am to you?

I finish with all the “cleanup” of the video, and then I have to “produce it” so that you can actually view the video. I started this process at around 4:30 am.

I have a fairly fast computer…but it STILL took nearly 7 hours before it completed. Now remember, this is my main computer…the one on which I do my trading. (Yes, I know, I could “split things out” and do several things differently to make this process better…and I will…but that’s not my Reality at the moment).

Well, during those 7 hours…as that video was produced and created so that you can view it…the program eats up almost all of my computer horsepower. Basically, I can’t do anything. I could not effectively use my computer to post responses to your support tickets. And, I certainly couldn’t trade…and this “producing the video” interfered with two of my “other” favorite times to trade. This was NOT fun. I felt, trapped.

Even with 10-15 minute videos, it STILL take a lot of time and effort to get them ready for you to view.

Now, why am I telling you this? For a couple of reasons…

Again, I have made a commitment to you, and I will honor it. I hope you would do the same for me…but more imporantly, I hope that you would do the same for YOU…that YOU will be commited to USING the CURRENT materials and resources of Logical Forex…the existing Online  Training Videos you get with your trial, the Written Supplement to the Online Training Videos, Market Replay, the trade examples on this blog, and the Private Workshop…along with LOTS of practice. (Or you can just go look for the Holy Grail in an automated robot trader or an “indicator that will tell you exactly when to click the button”.)

And then, I’m hoping that what I’m doing now by creating these new trading example videos that you’ll actually take the time to view them, learn from them, and DO WHAT YOU LEARN…and STILL be committed to yourself to “let it all come together in your brain”.

Are you TRULY willing to do that? If you are, then I’m willing to continue producing more and more detailed training materials. More things to help you. More videos. More resources that we can benefit with. More…family. Are you as committed to me as I am to you?

You know what would make me more enthusastic about doing this and maybe even “picking up my pace”? Simple. Comment below and publicly express your commitment. Or, if you’d rather stay private, just open a support ticket, and express your commitment to me. I’m as commited to you as you are to me.

And, yes, I will show you a super high probability trade in a video recording. But, I’m not going to do that very frequently. Why? You have to remember…when I do that…becaues of the slow down the recording introduces in my computer system…therefore my ability to trade…I won’t be able to take my normal “max lot” trade…and THAT will cost me a great deal of money. On the flip side of that…I will do this because I am committed to you and your success. And, as I always say…”there will be another trade setup soon.” :-)

I do ask you to be patient, too. I have several videos completed, but not the delivery method I’ll be using. There are a few more pieces that I must refine and then test…and then in the next week or so, I’ll begin releasing different videos for different types of clients…people who have only read The Secret Forex 4.2 Formula and taken no other action will have limited access to a more limited type of video. And then a client who has just a trial of the Logical Forex Indicators will see a bit more details in the videos available to them…and further, those who are regular subscribers who have show commitment will get more details. And then, of course, those who have taken a One-on-One Forex Trading Workshop, even more details will be available to them. In other words, the more you have expressed your commitment to us, the more information you will be able to access…and that means that you’ll be able to become a better trader, with more consistent profits.

Okay…now…I’m going to show you my “big lot trade” that I took. I have typed so much, my fingerprints are falling of now, so I’m not going to comment…just post the images. You’ll see why I did what I did, right?

YOU CAN ALWAYS CLICK THESE CHART IMAGES TO MAKE THEM FULL SIZE IN A NEW WINDOW.

### EUR/JPY Market Flow and Structure

EURJPY Scalping Setup Market Context

EURJPY Scalping Setup Market Context

*** TRADE #1

EUR/JPY Continuation Trade Setup

EUR/JPY Continuation Trade Setup

Exit #1

EUR/JPY Continuation Trade Setup

EUR/JPY Continuation Trade Setup




Remember, I want to hear from those of you who will commit to YOURSELF. Comment here and express your commitment publicly, or open a support ticket and tell me privately…but TAKE ACTION.

-Greg