It’s What You Believe. . . and Act Upon

I saw this posted in an FF thread and thought I would comment. The poster referenced the book  RSI: The Completed Guide by John Hayden.  My comments are below each “lie.”

The 10 RSI Lies that Traders Believe:

1. A bearish divergence is an indication that an uptrend is about to end.

Bearish divergence on any oscillator is simply an indication that the current momentum is weakening, not the trend.

2. A bullish divergence is an indication that a downtrend is about to end.

Bullish divergence on any oscillator is simply an indication that the current momentum is weakening, not the trend.

3. The RSI will generally “Top Out”  somewhere around the 70 level. At this point we want to start thinking of getting short or at the very least exiting long trades.

The 70 level is an alert that momentum is beginning to reach an extreme range and the market might be overbought. We know that price can continue to move higher, but the 70 level signals us to look at other factors (S&R, Harmonics) for possible set-ups and potential retraces. These levels are nothing more than a cue to look further.

4. The RSI will generally “Bottom Out”  somewhere around the 30 level. At this point we want to start thinking of getting long or at the very least exiting short trades.

The 30 level is an alert that momentum is beginning to reach an extreme range and the market might be oversold. We know that price can continue to move lower, but the 30 level signals us to look at other factors (S&R, Harmonics) for possible set-ups and potential retraces. These levels are nothing more than a cue to look further.

5.  Whenever RSI is above 50, it is a bullish indications. If not long, find an excuse to get long.

Above the 50 level is commonly thought of as bullish bias, not a definitive indication of bullish momentum as the RSI can be above the 50 and flat which would indicate neutral bias. The fact that traders may act upon this observation can validate the inference that bullish bias exists. There is never any reason to “find an excuse to get long.” Acting on an excuse is trading suicide.

6. Whenever the RSI is below the 50, it is a bearish indication. If not short, find an excuse to get short.

Below the 50 level is commonly thought of as bearish bias, not a definitive indication of bearish momentum as the RSI can be below the 50 and flat which would indicate neutral bias. The fact that traders may act upon this observation can validate the inference that bearish bias exists. There is never any reason to “find an excuse to get short.” Acting on an excuse is trading suicide.

7. A failure swing is a significant event.

This is makes no sense to me at all.  A “failure” swing in price action still inevitably creates a swing high or low. 

8. The RSI is unable to indicate trend direction because it is only a momentum indicator.

Clearly when the RSI exhibits steep angles of ascent or descent, we can infer that current momentum and trend strength/direction will correlate.

9. The RSI is unable to indicate trend reversals because it is only a momentum indicator.

When the RSI resides in the extreme ranges,  we can infer that current momentum and trend strength tend to exhibit extreme limits and might weaken. Nothing is certain. Again, these observations are clues to look further, nothing more.

10. It is not possible to use the RSI to set price objectives.

Is might be possible, but why would you? You certainly could choose to use it, and with back testing, decide if using the RSI provides a positive expectancy along with other rules. There are many other better options, so using RSI would not be at the top of my list.

For most of us, RSI (among other oscillators), is just a tool to supplement other conditions incorporated into our rule set. The above list makes statements I find to be inaccurate. Speaking in absolutes always makes me want to play Devil’s Advocate. Posting this kind of list as if it were sacrosanct is not helpful and does not compel traders to want to read the book. Furthermore, the poster thinks he is helping the thread participants, but gives no context or connection to the system outlined in the thread. Just another blurb added to a clutter of confusing and irrelevant information.

RSI is typically  just one component of other trading rules and tools and this list implies over-reliance and overstated importance of the RSI. I didn’t write an entire book specifically about RSI and don’t claim to be an RSI expert, but I am an expert trader and use the RSI with great success as part of my trading arsenal albeit in many of the ways the author claims I should believe are lies. Acting on those beliefs (lies) has done well for me – so I guess I’ll keep the faith.

Rick 

 

 

 

 

 

 

 

 

 

I Give Up!

Traders,

I CAN’T TAKE IT ANYMORE!  Do you see why I spent the first 10 minutes to my workshop explaining why you can’t learn to trade of Forex Factory and why “sharing” is a lost cause?

Is it any wonder people are failing miserably?

These are some of the posts this week within 2-3 pages of the same thread in FF. These are direct quotes . . . I can’t make this stuff up!

And here they are . . . (My comments in italics)

I am teaching myself on making the big picture. Here is my try. Please guide me on it. (You just keep teaching yourself and I’ll just keep paying myself with your money. I do a WTDA free very week and you’re still on a thread?)

For planning the big picture in the monthly chart how much back should we go? Is it same for all the pairs? (Is this really an attempt to formulate a plan? – asking someone else the most basic questions about what YOU should do?  I say go back at least  5 years – why not 10 years? Who knows, it might effect price today! Jeez!)

I plan to use the weekly and the monthly pivot points so that can swing trade accordingly. I use the pivot points provided in the indicator autopivotindicator_ver5.   (Great . . . another strategy and indicators that have absolutely nothing to do with the thread.)

Can you please post that support and resistance indicator?  (A support and resistance indicator? The most basic concept in trading now needs an indicator? Seriously? No danger here of getting rich.)

Guys what is ADR? Where can I get it?  (He doesn’t even know what it is, but has to have it? Unbelievable!)

Is it possible to forecast the direction of breakout?  (If it was, don’t you think we’d all be rich?)

Today I saw a thread that I think is a good sample for those are searching to realize the meaning of Supp/Res and also Channeling better.  (Thanks for sharing. That’s what we need, another clueless trader sharing another thread after asking the most basic beginner questions.)

Let’s start a chat room – I’m 21 years old, started trading 8 months ago, have now quit my job with my main income coming from trading, I’m not as good as others though. (Hmmm . . . I’d like to know what your monthly expenses are that you have been trading 8 months and are now making a living, but are not as consistent and other traders on a FF thread. Good luck with your chat room. I’ll just keep doing what I’m doing.)

And here are the experts trying to get these guys on track . . .

Did you learn everything on http://www.babypips.com/school? That’s really well explained and a complete teaching program. There’s probably a good explanation about s/r levels too.

Just figure out what works for YOU and stop confusing yourself asking so many questions and trying too many things.

I suggest you don’t not add anything and forget about using any pivots on your H4 charts until you have a deep understanding of this trading method.

Isn’t this almost verbatim what I described the workshop? This all happened in just a few hours! Did I nail this crap or what?

I am losing my mind! Needless to say, I have tried and tried, but can’t get through. I will do my best to no longer go to FF for anything other than news because it is just too painful. It would actually be humorous if it wasn’t so tragic.

The good news is that these folks are paying me to give them a real world trading education by learning the hard way. I will gladly continue to take their money as long as they are willing to just hand it over to me and other pros. Believe me, there is plenty to go around.

I hate to act like such a jerk, but I have lost my patience with the whole damn thing. I am resolved that I can’t help those that can’t help themselves and this model to help beginning and struggling traders isn’t working for me anymore. It’s just too damn much work!

Let’s look at it from a purely business perspective . . . There are about 20,000 traders on Forex Factory, If only 10% are making money, say 2,000, that means there are 18,000 traders losing money.  Let’s say they lose an average of just $10 per week. That’s $180,000.00 per week. I am more than happy to take home $3,000.00 to $5,000.00 a week if they are willing to hand it over so effortlessly. Do you see how easy it is to become financially independent in this business if you have a clue? And that’s just the losing traders on FF! There are thousands more globally!

I am going to focus on a very private client group of traders and investors that want to make real money and rise above the bottom of the trading food chain.

I’ll keep those interested posted as things progress.

Sorry for the rant, but this is f**king ridiculous and I’m not getting any younger!

Rick

Join Us LIVE!

Don’t Forget we’ll be LIVE this Saturday July 12th with more on Chart Analysis, Trade Set-ups and answering all of your questions.

We’ll get started at 7:00 am CDT U.S.

Tell your friends and fellow traders it’s FREE and to join us!

Here’s the link: http://tradingeducation.omnovia.com/ptnetwork

See you Saturday!

RIck

FREE Live Session – Chart Analysis 6.28.14

Hello Traders,

This Saturday, June 28, 2014 at 7:00 am CDT in the U.S., I’ll be hosting a FREE Live Session where we’ll spend a couple of hours doing some intense chart analysis.

Make sure you tell you friends and fellow traders to attend.

Here’s the link: http://tradingeducation.omnovia.com/ptnetwork

There is no password requried.

See you on Saturday!

Rick

Right Place, Wrong Direction

I wanted to share a recent string of emails I received and responded to beginning on May 7th and concluding on May 24th. I shared these with the traders in the first PTN Excel Course Live Session as well. These emails are really not that unique. What is unusual is that they are all from the same trader. My goal in sharing is to make you further aware of the state of the trading product industry and the general mindset of the majority of traders – the 90-95%. Those of you that know me are keenly aware that I first try to empathize as I have had many similar let downs and break downs early in my trading journey. However, I was much more humble and did not try to telegraph my impatience as is quite common in many of the emails I receive. I think this trader is somewhat askew in his/her perceptions and expectations, but I’ll let you be the judges. See if you can identify with this trader’s situation/apprehension and my impatience and please let me know what you think. This is not to criticize or disparage anyone, but more to emphasize that I make this information readily available for FREE for those willing to take a few minutes to explore the blog and review the workshop and course preview material. I would be very interested in your comments/feedback on topics that may be unclear or where I can improve. Thanks – Rick

My responses are in Bold, my commentary in Italics.

Rick – Can I please get straight to the point?
– do you tell me your entry, stop and profit rules?
– do you discuss your technical analysis?

Your impatience tells me you are not interested in learning the skill of trading. I don’t give away rules. That won’t help you trade.
Good luck.

I’m certainly not impatient however nothing in the videos is new to me. This information is not new to me. I’m more interested in understanding your set up etc.
What exactly is in the excel course?

(The material in the videos is not new to him/her? Then why are they not trading successfully? Furthermore, clearly this trader has not listened much to what I have said or presented. This question comes after he/she has watched the first 3 Workshop Videos and has not figured out that there is an entire course preview and trade system preview.)

Watch the preview. There is a link at the bottom of the Workshop videos.

Thanks Rick. This will be my last email. I promise.
Please specify whether you discuss trading strategies such as entry, stop and taking profit?
After listening to your videos, I feel it’s more of background information about fx trading which is great but I’m not looking for this.
Please correct me if I’m wrong.

The course includes two trading systems where you must still perform the back testing. They have entry signals and stops, but you have determine profits. It also includes advanced pattern trading.

Ok thank you very much.

( . . . a few days later . . . )

What is the best price you can sell the excel course for?

I have priced this course ridiculously affordably and the content is worth 100 times the cost, so the best price is the current price.

Sorry to keep asking these questions. Please understand that I have spent a lot of money on systems in the past.
Can I please confirm that once I study these strategies that I would be able to start making money? What is the win/loss ratio, rate of return?
Will there be any other systems after that which I would need to purchase?
Again sorry to be repetitive and I’m not trying to be disrespectful. I just sick if paying for systems that don’t perform.
Thanks

(I can totally empathize with this.)

I cannot guarantee anything. You want certainty and that does not exist.
You have seen my blog, you have seen my workshop and you have gotten a preview of the course.
If that’s not enough for you to make a decision, let me help you – don’t get the course.
I have hundreds of traders emailing me every week telling me how much my blog and course materials have transformed their trading.
What I do is open their eyes to what it takes to be successful; they are the ones doing the hard work and getting the results.
It’s about your commitment and willingness to make the necessary changes to be successful.
My course can help, but it will not make you a winner if you are looking for someone else to be responsible for your success,.
It’s all up to you.
Good Luck.

Thanks Rick. I am willing to put all effort and back testing. I have been doing this for the past 10 years. But what I won’t be able to do is create my own system.
Will you be giving this to us? That is the set up entry and what to look out for?

(This said it all to me – doing this for over ten years and displaying this state of mind? This was not a good sign.)

Yes

Also, will there be unlimited use to the excel course or is it restricted after certain time.
Is there anyone in Australia who has used this?

Yes and yes

Last question, I promise. How long does it usually take to master the strategy?
Also is there a forum available to ask questions if I get stuck with any terminology.
I am really interested in purchasing the program.

I don’t know how long it will take. It varies per individual. My best clients/students are up and running independently in 60 days, some take 90-120 days and some never do anything.
I do 4 live sessions for Q&A.
As you know, I can always be reached by email.

There was a question in your FAQ
“What are your rules for entry, stops and targets? The blog is designed for you to learn what professional traders do for consistency and profitability through analysis and execution along with the psychology required. It is not similar to a chat room or forum where indicators and trading systems are given away. My rules and trade plan are designed for my trading personality and experience level. You must formulate your own rules and trade plan, do your own back testing and practice diligently so you can execute YOUR trade plan efficiently. Knowing my rules and plan will not improve your trading.”
What do you mean by: you must develop your own rules and trade plan?
How is the different to giving me your entry, stop and exit level?

(Here is where I simply lost it. After all of the information on the blog, in the workshop and in the course preview materials, this person can’t seem to understand my message – processes are the key to individualizing your own trading system and trading personality. This is the only way to establish your independence.)

No two traders trade the same. You will impose your own biases on any trading system, no matter what I tell you. You do not have the experience or discipline to trade the way I do, so it is a waste of time to tell you how I trade. Seems to me like you need to subscribe to a trade signal service. They can give you entries, stops and targets. Just Google it.
I teach people the skill of trading, not just how to trade. I show how pros trade and how to develop a system that best fits the individual by sharing two trading systems.
It’s all been explained and laid out. I am not interested in spending time convincing anyone. My work and results are documented.
This will be my last response. I have too many other traders that are decisive and committed that need my attention.
Good luck

( . . . after some thought a few minutes later . . . )

Also, please do not buy the course. I fear that working with you would be too frustrating and time consuming for me. I do not engage with traders that indicate they will be too high maintenance.
I don’t have the time or the interest.
Thank you.

I wasn’t asking you questions to convince me Rick. You weren’t very clear in your emails compared to what you have stated online. I wanted to simply clarify whether you teach trade signals rather than what fx is all about.I have spent years learning various topics including pivot highs and lows, money management, how to trade daily, weekly and intraday etc but what I was looking for is simply trade signals (entry, stop loss, profit targets etc). You obviously don’t do this or interested in sharing this information with me so I will not bother you again.

High maintenance!!!! Wow how arrogant. People are plain stupid to even give you the time of the day. How negative. I wouldn’t like to be associated with someone like you anyway.

Again . . . I would be interested in your comments.

Thanks again!

Thanks again to all of you that participated in the Forex Traders Workshop and purchased the PTN Excel Course.

Lots of positive feedback and very encouraging progress from so many of you in such a very short time!

I am leaving access to the Forex Traders Workshop and Excel Course on the blog indefinitely, so if you know any traders that might benefit from the information, please let them know it will be here for them.

The link to access the workshop and course are in the “Excel Course” tab in the middle of the blog home page.

Good luck to all and stay focused!

Rick

Guest Post . . . Akil the Awesome!

Traders,

It is a great privilege to have Akil Lateef, an awesome trader and a good friend, share some of his thoughts and insights with us here at the Pro Trader Network. Akil is a true success story and worked very hard to achieve that success. Here is his post . . .

“One Trade At A Time”

Before I start, I wanted say that I appreciate Rick and The Pro Trader Network for allowing me to share my thoughts. I’m a blogger/educator myself and I have recently fell in love with this site. I think that the posts are very thoughtful and discuss the topics that truly make you a better trader, which is psychology. Having a strong trading psyche was the key to turning my trading around and it all started with a single word.

Kaizen: Japanese for continuous improvement and the change for better. This philosophy was implicated by many Japanese businesses after the Second World War. “By improving standardized activities and processes, kaizen aims to eliminate waste” by improving efficiency. To put it in short, the Kaizen philosophy believes that they key to achieving your ultimate goals is to improve little by little, rather than trying to go for the whole thing at once.

When I was first introduced to the Forex market (like many traders) I spent the majority of my time surfing the web looking for any and every bit of information I could find on trading. purchased DVD sets, hundreds of YouTube videos, read many books and articles, joined trading forums, etc. Since technical analysis was new to me, I believed every bit of information that I saw and thought that each new technique I learned was my holy grail to success. Fast forward two years and the main item that stuck with me has been a singles word; Kaizen. I’ve learned a lot throughout my first few years of trading and currently I’m at the point where I can attack the market using numerous strategies and tactics However, despite having all of the knowledge in the world the Kaizen philosophy is what allowed me to get to the position I’m at now.

It was not even two years ago when I began trading full time. A lot of hard work, disappointment, kicking, screaming, and even depression happened before that point in time, but I’ll save those stories for another time. Anyway, after an incredible education through a Pro Trader Course, I felt as if I was more than prepared to trade the markets live and begin my path to becoming a professional trader. I had a trade plan written out, completed back testing, I even a client that trusted me to trade his money. In my mind I was all set and ready to make millions. I vividly remember taking the train home from New York City (after meeting with my client) and having a quarter million dollar check in my pocket saying “this is it Akil, this is way to do it.” By “do it” I meant become a millionaire by the time I turn 30 which was one of my goals from when I was in middle school. Long story short, after having a profitable first two months of trading I ended up having a psychological meltdown which resulted in me almost blowing my full account along with over $50,000 of my clients money. After cutting ties with the client do to disparate viewpoints on trading, I took long look at myself in the mirror and told myself “something has to change.”

This change began and ended with me when I realized that if I wanted to become a successful trader, and a millionaire, it wasn’t going to happen overnight. It was going to take hard, consistent work over a period of time. This is when I first began adapting the Kaizen philosophy to my trading. I knew that I was still rather inexperienced in the field and that I was still going to make rookie trader mistakes so my goal wasn’t to become a perfect trader overnight. Rather, it was to become a little bit better each day, week and month. Just as the Kaizen philosophy says,, small, continuous improvements. In order to do this I began taking detailed notes (and pictures of the charts) every time I made a trading mistake. Whether it was something as little as trailing stops too soon or something more major like missing a trade entirely. I would force myself to remember each “dumb move” as I called it and try not to make the same mistake again. This was rough at first as I constantly made mistake after mistake after mistake, but over time I found myself making less and less. After a few months of sticking with this approach I could feel myself slowly improving and becoming a more efficient trader. Yes, I was learning more about the market and was able to understand it better strictly due to the time I spend watching it. But as I went back through my month to month results, I noticed that the amount of mistakes I was making was significantly decreasing and this had a direct affect on my winning percentage and the profit I was taking in.

Today I hold the position of Live Room Moderator with the same group that originally educated me on the market. It’s such an honor to feel that the company entrusts me with the responsibility of working with a room full of traders looking to learn or turn their trading around as well. I still don’t like to call it a success story yet because I personally feel that I am very far away from my ceiling and overall trading goals, but I do recognize that I made it over the first hurdle. Do I owe it to a magical system, a secret money management strategy, or simply being a better trader than others out there? No. I owe it to one thing, and that’s the will and desire to get better. Having the mindset that trying to become a little bit better each day in the market will eventually allow me to achieve my long term goals as a trader has helped a lot and I recommend that you give it a try whether it be in trading or another aspect of your life. I’ll end this article with a quote from the first page of my trading plan. “…I believe that people only fail because they give up before they have the chance to succeed.”

Thank you for taking the time to read this, and big thanks to the Pro Trader Network for allowing me to share my thoughts.

Thank you Akil! We all benefit from your valuable insight – Rick

 

LIVE Training Room FREE Trial – IMPORTANT UPDATE

Hello Traders,

I’ve scheduled a FREE Live Training Room this week to work with you during the London Market.

IMPORTANT UPDATE: DUE TO BRITISH SUMMER TIME GOING INTO EFFECT THIS WEEKEND, WE WILL BEGIN AT 1:00 AM CDT U.S. on APRIL 1st.  –   NOT 2:00 AM

I’ll show you:

– A solid pre-trade routine to choose best currency pairs to scalp each day.

– Market Analysis for Swing Trade set-ups.

– Information on the Trade Copier I’ve been working on.

. . . and lots more.

Come and spend the week with me starting on April 1, 2014 at 1:00am Central Time U.S. for 3 days in a row of training and trading during the London Market.

Here’s the link to sign up:

http://protradernetwork.kajabi.com/sq/37608-live-training-room

All are welcome so spread the world and invite all of your fellow traders to join us!

I’ll see you Live during London!

Rick

 

More than 100 and counting

After a harrowing four weeks of computer nightmares and tech glitches, I’m almost back to normal. One thing that really caught my eye once I got back online was my inbox. I was checking the emails I missed and sifting through other correspondence when I came to a disturbing realization – Most of the emails I got were from trading marketers.

I was trying to keep track of just this week’s emails – from other guys selling trading systems, indicators, and other information I could not live without. I stopped counting at 100 – and that was only from last Sunday through Wednesday.

I talked about this before, but I think it’s worth repeating . . . people are buying this stuff ad nauseum and as long as it sells, we’ll keep getting the emails. I’ve also come to the conclusion that I each time I attempt to unsubscribe, instead of being removed from the list, I am added to 10 more.

I guess I am in awe over the sheer volume of stuff people are trying to sell that really follows the same idea –“buy this and you won’t have the learn anything or put forth any effort.” As we know, nothing could be further from the truth.

I have also received my share of emails from people who have said they benefited greatly from the blog, but once I offered a course that costs money, somehow I sold out. Their perception is because of that, I am no longer the exception, but part of the hucksters so despised. I never think of myself as a competitor in this realm because I am not developing a line or group of “products” or aligning myself to sell other stuff. Currently I am only updating what I have already done and adding what I think is more content and more value.

My response has been simply this – the essentials course was borne out of requests from traders and associates to put together something that was complete, based on MT4, and that came from the perspective of a real professional trader. Keep in mind the cost was minimal, content rich and provided and actionable trading system and a thorough trade plan development outline designed to actually teach you the skill of trading. I have only offered it once and after my expenses (storage, website, support and production costs, I netted just around $2,000.00. Not the best scam going by any stretch.

I am not looking for any support here, just letting you all know that I take pride in only sharing things of relevance and value. I feel it is my responsibility, as well as my goal, to educate in a meaningful and professional way that will benefit you and make you a totally independent and self-reliant trader. I have the testimonials to prove it, but this is not about my ego – it is about yours.

Also, I will never apologize for asking for traders to pay for something at a fair price that actually works, proves itself day in and day out, and gives more actionable information than 99.9% of anything else in the trading education market place. If you think I’m in this to just sell stuff, or compete with the marketers, please feel free to unsubscribe, go this alone like others in the forums and chat rooms, or buy the stuff from the other guys that are killing your dreams in $47 and $97 increments.

I wanted to vent a little (I need to now and then) because I get frustrated trying to help people that will never make it or are genuinely unhappy, and then try to make me responsible for their shortcomings. They somehow think I should be running a trader charity. You know the type. They saturate the forums and chat rooms; passing other’s work off as their own or asking for everything for free without contributing anything. I’m learning, albeit slowly, to try and get over this kind of stuff. The good news is the majority of you are engaged, focused and ask some really great questions; my sincere appreciation to you for staying in touch and keeping me motivated.

Just one more thing – and this is really something I do take pride in – I will never inundate you with emails – for my stuff or anyone else’s. You can be confident that when I send you an email announcement of any kind, it will only benefit you in a meaningful way – whether it’s new blog information or an upcoming event that will provide awesome content.

Lord knows we get enough junk emails all ready.

All the best.

Rick

Pay It Forward . . .

I am often asked why I would take the time to help people learn to trade if I make a great living trading for myself.

You hear and lots of unflattering comments made on posts and blogs about the integrity of those trying to help others – or worse, how dare someone actually charge a fee for teaching trading or selling trading products – they are somehow evil and manipulative.  I have been guilty of making some of those comments myself after being the victim (or sucker) that purchased such crap (more times than I would like to admit). The reason I got sucked in to the fray is that I was looking for a shortcut or even a free ride. That’s my fault and not the fault of the slick and sleezy marketers.

What needs to be examined is the experience and motivation behind the teaching, product or systems being offered and the track record of the person or group behind it.  I, for one, don’t think anyone needs to apologize for selling an awesome course, trading system or trading psychology book that talks the talk and walks the walk. In fact, without these folks, I would not be where I am today.

In the trading game, unfortunately, to ultimately find the diamonds, you may have to dig through some deep dirt. It can really be a crap shoot to find the good stuff.

I was fortunate to finally find such a group and what I got in return was infintely more than the cost. The only thing asked of me in was to help others with the same integrity and generosity I experienced.

I will be sharing much about my own personal trading experiences as well as those of other professionals. I think you will be surprised at the number of challenges we have in common.

So that’s how this blog came to be (among other reasons you will discover.) I was asked to pay it forward and will do my best to keep that commitment.

Some say “those that can’t do . . . teach.” Here we have the best of both worlds. We have pros that are both awesome traders as well as phenomenal teachers.

Although I will be the primary author and contributor, we (our group) spend(s) a lot of time researching, writing, reviewing, testing and organizing material we think will be valuable to serious traders – material that has helped us and others become better traders. I will include as much of it as I can. Most importantly, we trade – day in, day out – we live and breathe the markets.

Because repetition is the mother of skill, we will be revisiting many of the most important topics several times.

At the moment, regular posts are scheduled for Sundays and Thursdays at noon CST. If any thing relevant or interesting comes up between thsoe times (which I’m sure it will), I will be sure to post and contact everyone ASAP.

Always remember, at one time we were just like most of you – excited and enthusiastic, but perhaps having limited or no consistent success. We discovered were our own worst enemies.

You will find that we emphasize the psychological aspects of trading because this is the “make or break” part of trading that separates the winners and losers. It is the most difficult aspect of trading to master.

I am excited and privileged to be a part of this awesome group and welcome you to spend as much time here as you like. We taking trading seriously, but also like to laugh at ourselves and have some fun as well.

We have lots of really great stuff planned for you and we are looking forward to meeting some more great traders.

All the best.

Rick