Some traders don’t like to trade instruments they think are highly correlated. However, there is a solution for that, just trade half your usual size on each. We are short both silver and gold, reason for short is on charts, if yu have any questions drop me a line. I usually read and  answer all emails. Good luck

 

A very good article on looking beyond chart patterns http://www.tradeciety.com/best-chart-patterns-trading-tips/#comment-15065

I am frustrated with a lot of scammers selling mentorship programmes/signals when they haven’t even made a penny from trading themselves. The reason why I have decided to post this is because I have had several emails from people complaining that they have spent thousands of dollars following these so called mentors. I think in the trading industry there are more mentors/education providers than traders. Some people struggle to save ,money and someone just comes takes it away with false promises of tutoring them to success.Lets set this right so that new traders or struggling traders stop buying useless courses online or following scammers. When looking for a mentor, follow the rules below

1. Ask for trading statements (for at least 5 years, real brokers account not excel spreadsheets), if they cant provide that or come with excuses, run with your money. I don’t see any reason why they cant show you their success…coz you are paying them  a lot of money, they should show proof that they trade successfully.
2. Not all good traders are good mentors, its difficult to tell, but shop around for ones with good reputation.
3. Have a small interview with the mentor to find out if the strategy will suit you, a mentor helps to discover who you are as a trader.
4. Some mentors know that when they mention trading for a fund or working on wall street they will attract a huge number of students. Ask for proof, anyone can make a story. If they were successful on wall street or hedge fund why are they still selling courses for $100, that doesn’t add up.
5. Gone are the days when you are shown some yachts and trading on the beach and you buy it, ask yourself if that is real and if it is maybe it is funded by selling course not trading. Still goes back to asking for proof of trading.

 

After saying all this, I am not saying that all mentors are scammers, that will be wrong, because they are some good and genuine mentors out there, but they are difficult to find. When you buy a car or a house you take your time and you shop around to make sure you have the best deal. Do the same when looking for a mentor, you are paying them thousands of dollars, so you are allowed to find out if they trade for a living, don’t listen to the bullshit of wanting to give back to the community. Charging someone $5000 for mentorship is not giving back to the community…That’s called reaping off the community !!!!!

Drop me in your comments, lets discuss what you think and tell us if you have been scammed or had a good mentor

Edited: 28 March 2016

Just as I posted last week about scammers look at this now

http://www.forexfactory.com/showthread.php?t=584527

Ok Joe you have shown us all the winners, WHERE ARE THE LOSSES….my first loss this year was the short audusd I took on 19 February…yes my first loss. I like taking a loss here and there because it stops me from thinking that I always have to win, it puts me in a good shape to trade. I am getting better and better everyday. Getting more experience in reading charts, and i still have loads to learn. You never stop learning!!!!

 

February was better than January, managed to catch a couple good trades, reached some targets and some are still running, charts as shown below, hope the explanation can help some people to read price action the way I do, hope you will learn one or two things, if you have any questions do not hesitate to ask

Eurcad Short

Before

After

 

 

Euraud Short

Before

 

After

 

Audjpy Long

Before

After

 

Audusd Long

 

Eurusd Short

 

Cadjpy long

 

2015 was a very slow year for my trend trading, most pairs i trade were stuck in a range. But i traded well because ranges tend to sting trend traders, but i managed my risk very well and stayed out when the range got tighter. Two losing months which are less than 1%. Closing shop now until 2016, have a merry christmas and a prosperous new year, coming back stronger in 2016.

Hi folks, I am still here, i have been quite because the market has been quite. This is not a market for a trend trader like myself. There is nothing much to write about, but if yu have questions do not hesitate to send me an email. If you want something explained just drop me a line and i can make an article and post it on the blog.

Happy trading!!!!!!!

Check out these two articles, learn how to read a top or bottom using price action

Dow ready to drop??????

Cadjpy ready to drop?????

Dow Before

Dow After

Cadjpy Before

Cadjpy After