HAMA PAD - A Simple Trading Approach - page 135
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That too, FerruFx
My own personal twist on the acronym. Unofficial but nonetheless true.
Patience Analysis Discipline refers to the psychological side of trading.
Peace,
F.F.L.That wasn't a correction, only for remember to the new HAMA members that the PAD (doesn't matter yours or the official) is very important in trading.
FerruFx
PS: sorry for not coming as many times as i want in the trading room. I am really busy.
That wasn't a correction, only for remember to the new HAMA members that the PAD (doesn't matter yours or the official) is very important in trading.
FerruFx
PS: sorry for not coming as many times as i want in the trading room. I am really busy.Point well taken. Hope you can make it in the room sometime soon. You absence has been noticed.
Nice Trade
I just want to post my todays trade and give thanks to FX for sharing this great system he developed. I am up 135 pips so far and as you see from the trend steps it isn't over yet.
PayPal Link?
Has the Pay Pal link been sent out yet? I am eagerly awaiting. I know this is a long marathon and not a sprint, but I am still stuck waiting for the gun to go off so I can start my marathon. Thanks
My trades for today. Image speaks volumes. Using T-Step and TMT dots on H1 or H4. Gotta love that Step cross and BB (Band Break(more aggressive)) or ZLB (Zero Line Break(surer trade)).
Hi Fxcruiser,
I have placed the Z3 Golden eye on a 4H chart on the aud/jpy and looks pretty good.
But what was the stoploss rule again ?...
regards....iGoRNice shot iGoR and glad to have you visit us again. Yeah, 4H has a lot less noise, almost nil, and it does look very pretty and good. Initially, use your eye for stop loss plus or minus your risk tolerance (which likely you will need for any of the Yen counters), then trail as you wish.
Now, you don't have to say "Am I desperatly looking for a trend because I want to trade...or am I taking a trade because the trend is there...(iGoR)"
But mind you, still be watchful of minimal false moves coz you will still find them along the way. You know what I mean. Just make sure you validate the convergence for a GO trend.
BTW, your T.S.R (actually any system) will trade easier with it and for more consistent pips. In the meantime, just keep the eye to yourself for now (I haven't made all my beer money, yet
). Visit or call whenever you can squeeze the time from your busy schedule. Next time you visit, I will make sure we have some iced cold beers and Cuban cigars. Before I forget, in case you really make all those pips profit and money on the eye, please look back and remember to give back to the HAMA Youth Educational & Charitable Foundation, S.A.
ENJOY!
fxcruiser
P.S. Oh, iGoR, I almost forgot you may want leave that other thread (you know which one I am referring). Let them figure out the drawdown themselves.
I think DD is now sinking in and reality FX is knocking. Again, just my suggestion.
Hi Fxcruiser,
I have placed the Z3 Golden eye on a 4H chart on the aud/jpy and looks pretty good.
But what was the stoploss rule again ?... ;-)
regards....iGoR
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I know you all want to see charts, profits, indicators, etc. But, here is another "Beyond Systems & Indicators" with excerpts from Trading Wisdom provided by neuropsychological trading coach Dr. Janice Dorn, M.D., Ph.D.
"You can have anything you want if you want it desperately enough. You must want it with an exuberance that erupts through the skin and joins the energy that created the world…" Sheilah Graham (U.S. columnist, 1904-1988)
OK, I fudged the title from the TV sensation "So You Think You Can Dance?"
Having been a dancer since age 5, I actually thought I could dance! That was before I watched these amazing young dancers battling it out week after week, one by one falling down, getting up, getting safe and getting booted. The field continues to narrow until, one day soon, the winner will be chosen. These people have talent, training and experience. So what separates the winners from the losers? Passion. Pure, unbridled passion. That is what separates the winners from the losers in dancing, life and trading.
Why do so many people think they can do something with confidence, courage and competence when they cannot? The so-called overconfidence bias and other heuristic biases are topics for another day. Today, I would like to focus on the Learning Ladder of Trading.
One day, you get up and realize that you are in a dead-end job and just sick and tired of being sick and tired. Your buddy has been trading the markets for a few years and doing OK…not great...but getting by. Your buddy's buddy just set up a trading account, paid thousands for software, books and courses, but is not making any money. In fact, he has lost half of his initial stake. Yet, you hear others touting returns of 100% to 1,000% gains a year, and the siren call of greed—coupled with the idea that if they can do it, you can do it better—is too tempting to resist. I mean, how difficult can it be? You just buy the right books, get the best software, go to the right seminars, subscribe to the hottest newsletter, and—with the click, click of your mouse—buy low and sell high, buy high and sell higher, or sell high and buy lower. No problem. Piece of cake.
So, you announce to your family that you are going to quit your job, become a full-time trader, monies will flow effortlessly into your account, and everything is going to change. It all seems so easy, and the seminar people are doing it, so why can't you? You are just as intelligent as the next guy.
This type of thinking borders on the delusional. Just as you cannot wake up one day and, without any formal education or training, start practicing law or medicine, you cannot become a proficient trader overnight. Get over yourself, because it just isn't going to happen.
No matter how many bells, whistles, indicators, seminars and books you surround yourself with, you have to pay your dues. You must learn that that piece of cake needs to be converted into humble pie, and that the most successful traders got that way by first getting a Ph.D. in losses at the School of Hard Knocks!
Trading is simple, but it is not easy. Successful trading and investing are skills that combine both art and science and take time, patience, perseverance and courage. In order to achieve and master these skills, one must progress on a path that is mental, emotional, physical and spiritual. For many, this is the most difficult journey ever taken. Start where you are, and understand that it is about the process, that time takes time, and that the rewards are worth it if you just keep going with passion. Without passion, why bother?
"There are no secrets to success. It is the result of preparation, hard work, and learning from failure…" Colin L. Powell
Every trader must climb the four rungs of the Ladder of Learning, and must do this one step at a time. You cannot skip a step, but if you let your guard down and do not continue to study and practice, you can and will fall down a step or two.At HAMA Traders Lounge, I make every effort to work with those active participants in our trading room with "Beyond Systems and Indicators" approach to trading and beyond. Get a positive mindset and the positive pips will follow.
ENJOY!
fxcruiser
Nice shot iGoR .....
BTW, your T.S.R (actually any system) will trade easier with it and for more consistent pips. In the meantime, just keep the eye to yourself for now(I haven't made all my beer money, yet
). Visit or call whenever you can squeeze the time from your busy schedule. Next time you visit, I will make sure we have some iced cold beers and Cuban cigars. Before I forget, in case you really make all those pips profit and money on the eye, please look back and remember to give back to the HAMA Youth Educational & Charitable Foundation, S.A.
ENJOY!
fxcruiser
.Always watching over someone 's shoulder to see if they wouldn't charge to newbies for something that can be found for freeon the internet or on a forum....
regards...iGoR
PS. Your knowledge about beers and cigars is impeccable...don't forget to spare some time in your bussy "visting scheduele", so you can teach people in your room.....