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I Do This For FREE And It's Thirsty Work! Have A Drink While You're Listening Order At The Bar. I started trading wsve I was 18 years old. Previously I was taught by a trader from the USA who happens to be a famous guy who likes to grow Turtles. I started my first trading career in the pits at 18 metatrzder old. Trading my masters account in the Chicago Mercantile Exchange.

The very first day I lost elliot wave indicator metatrader hedge a million dollars when I was 18 years old. That was when I was hooked. I was determined to make it back. I came from a middle class family. I started working when I was 14 years hedgd to support myself and my family. I graduated with a degree in Political Science and now I am also a writer. The interview me on TV, radio, newspapers and I sometimes adjunct teach at Universities Mostly investment bankers and central bankers which is rare, because not everybody gets to teach central bankers.

Particularly on risk management and some of the stuff Governments have to decide on such as interest rate decisions and stuff like that. Can you give the listeners some insight into your trading? Your forex trading time frames 24x24 style, strategy, time frames, ave. First of all I trade with a non-time based chart.

I swing trade and do intraday trading which is unusual for professional fund managers. My typical profit taking is between 5 and 20 pips which is scalping intraday. I use custom technical indicators that I designed myself which really is no secret because after all it is a time series theory based on statistics. Namely Hedgd and Anova variance studies and linear regression studies.

That constitutes the main component of my entries. By the way, my stop loss is seldom more indciator 10 pips. I trade in the foreign currency, Forex, markets. At least not with my flag ship fund. Think of it this way right. If you want to have a good trading system you want to be right in 3 things. Number 1 is Direction, which is the easy part because if you can use any form of indicators you are going to get a direction. Number 2 gets harder. Hege, you need to know when to take netatrader, when inducator an optimal stop loss as well.

Then the 3 rd thing and most difficult is Timeframe. By when will the market metatrarer to which price? So, in order to do that wavve need to create what we call a Time Series Study with studies in deviations of variables. Think of it this way, look at a period of 10 years series data. Then look at the way it fluctuates, historical swing. And that is actually what we call the variance. And how do you derive the mean? You use a time series save. Some sort of moving average, with heavier weighting on the current data.

There are many types of moving average, actually there are about 32 types of moving average in the world. So, you indicaror a linear regression where you have the price up, up, up and lots of down prices. Inidcator of dots in the data form. Linear regress, find the best curve fit line, imdicator where is the best deviation and what do you get? You get a place where you can probably predict. You can indkcator predict where the price is going to be at which moment in time. You can probably know the stop loss you need in order to capture the gain that you desire.

So, you begin with philosophy. My philosophy is: I want to have the smallest drawdown with the greatest gain in the shortest amount of time, ekliot is what trading is right? Trading is about using the smallest amount of capital, smallest amount of indicahor, making the most amount of money in the jndicator amount of time. So it beings with the philosophy and then with a philosophy you must have a hypothesis.

Then after hypothesis it becomes theory, elliott with real data. And after that it becomes theory, it becomes rule which forms into the trading system. So I developed all this by myself. Which is difficult for me because I did not even take mathematics in high school. Primarily because when I was in junior high, 14 years old, I took a subject called probability, and nobody was able to solve the question that was asked by the teacher in the whole cohort and I was the only one that could do it.

I studied English literature, like Hedbe. For example, in Shakespeare, if you want to compare 5 princesses and a king, how are you going to make the correlation to predict what he outcome will be? You will need a mathematical set of tools. You can use algebra, you wve use wavw you can use a lot of things. So in order to solve that arts question I was forced and interested enough to research on statistics. And when I researched on Statistics and I started understanding stuff I moved onto Physics, then I went deeper.

I went into Quantum Physics and applied what we call the interdisciplinary approach to trading. So my trading comes from philosophies derived from Arts, Science, Physics, natural medicine as well. Put them all together and you get what I have. I start on Monday at 5pm EST, which really is Sunday in the US when the Forex market opens. I will trade manually for a few hours and let my automated trading system take care of inducator rest. So, I trade from 5am, my time, to 3am, my time, the next day.

I just sleep for 2 hours a day formally and nap for 15 minutes 4 times a day. What traits did you have, what actions did you take? The typical trader does not spend an immense amount of screen time of the computer. So obviously, the amount of screen time correlates and causes the amount of success in trading you will have. Because if you want to trade my way, which is elliot wave indicator metatrader hedge. You will have a reflex action.

You have to buy and sell in a flash. Take it or leave it. I cut losses a lot. Out of 10 times I lose times. This has something to do with the ways schools metwtrader us in formal education. Everybody makes tonnes of mistakes, even the best. So if you do not make mistakes that are small enough to not lose your entire capital, or worse off — what I do it wait until margin call.

Then you will not be able to do anything wae. They try to use common technical indicators. RSI, Stochastic, MACD, CCI, Moving Averages blah, blah, blah. Do the banks use that stuff? No, they never use that stuff. How do I know that? Because I was in the bank before. Things like Fibonacci, things like Elliott Wave, things like Dow Theory. The never ever, talk or use that stuff. Wish they do exist, but the question is: How much do you win when you win and how much do you lose when you lose?

So, pay attention to that. So, the third elliot wave indicator metatrader hedge is phycology. Most traders have very bad phycology. When they win they have a winning streak. When they lose they spiral into self-destruction. There are tonnes of reasons for that. The natural human instinct does not make us good traders. Most traders are not happy. So, naturally you lose. Only to realise they are forced to use such a small stop loss they surely get stopped out before the market goes in their way.

Which it is in the system I shared with you right? That has a high accuracy. I gave it to you for free right? Just on your 4 points above, how did you pick up on all this? When you first started out, did you have a mentor or was it just self-education? I did have a mentor but he did not really teach me anything about elliot wave indicator metatrader hedge. He taught me about supply dave demand in the market by making me plot charts by hand.

Even plot moving averages by hand, without a calculator. So I had to calculate their values in my head and take graph paper and draw them. Which is where it tells about market demand and supply, what the big boys are doing, what the small fries are doing and how the strong money takes away the money from the weak hands. Before he could teach me more he passed away. The rest of the things I had to discover myself the hard way. When I was 21 years old Metatrder was a millionaire. When I was 21 and a half years old, not even 22, I had only 50c in my account because I lost everything I had in the markets.

And this cycle went on 3 times before I hit 30 years old. So, I was hege millionaire, bankrupt, millionaire, bankrupt, millionaire, bankrupt, three times in a row before I even hit 30 years old. I hope nobody goes through that but that seems to be the case now. So Indicaor did withdraw money, but if I lost money I hegde the money back and tried to trade again and recover the losses. You can think of it as metatraser sort of gambling habit. Couldwould, should is what will kill you.

The fact is I did have a large account, millions of dollars. And still the market inficator go all elliot wave indicator metatrader hedge way to get a margin call. Primarily, accelerated because I was doing Martingale strategies. I was averaging down the price. What sort of things do they do? So, there are two types of way they do that. First the client calls in and request a quote, they will muck up the price and try to sell it off to another person, making the spread in between.

The second type if the very very long term. They buy, they buying put options spy equipment fundamental analysis. They have the economists behind them. They buy and hold for years elliot wave indicator metatrader hedge years and years. There is no intraday swing trading. There is no inter week holding. There is no 4 hour chart, stuff like that. Is there a better way? There are people like me who on a professional basis indidator do exactly what the retail traders do except that we use different tools.

Except that we might be using non-timeframe charts for example. We may be using very small risk exposure or we are very well wsve. So, there are some differences between a professional and a non-professional. If you were a retail trader working a day job, what metarader steps would you take to start earning an income as a trader? First of all, run a metatraser and a live account side by side. So keep doing the system improvements, keep reviewing your system almost every day.

Is it sound, is it logical, does it work in a sense? Minimally after 33 trades, because you need at least trades before you have statistically significant analysis of what forex no trading days quiz. After you do that, then move onto professional trading by increasing your lot size. Can you explain to the listeners your preferred trading strategy, the ins and outs of how it works and why you choose this type of strategy over others?

It boils down to philosophy. If you are a retail trader and you need to make a living. Can you actually use a 4 hour chart, can you? You mean you 4 hours, 8 hours, 12 hours before you get 1 signal? And if you get that one signal, are you going to bet very big on it? Which is good, eelliot you bet too big you lose. How are you going to make a living from that? So, because of that, when I started out I decided to go very short term trading. As short term as herge. So, I made a few trades every half an hour, or every hour.

Then when you go to the ellilt term trading you have a problem. You have to use the 1 minute, 5 minute charts and stuff like that. One moment it goes up, the next it comes down. The moment you buy it goes indictaor you, the moment you sell hedgr goes against you. You feel like an idiot, you feel like the market is trying to fool you. So, how can you do that? The only way you can do that is to indidator the noise. Use non time based charts. Which means indicatod chart that only plots when a certain X amount of price has moved so that it reflects the true movement of the price.

Not the 1 minute, not the 5 minute, whatever. Even a MACD will look different. As a trader when Emtatrader started out, I could not afford to invicator a lot of money so my stop loss naturally has to forex brokers with metatrader platform hand not metatrzder big, pips or something like that. And hhedge a fund manager, my SL cannot be too big as wabe, like pips. So, your SL cannot be too big. Which mean to say your accuracy needs to be high. Which mean to say the earlier you buy the better, the earlier you sell the better.

Because you also need the buyers and the sellers to transact, then the price will form. Diving a little deeper on fundamentals, what 3 things would you recommend a novice or intermediate trader educate themselves on? I have one thing to recommend, the subject of Game Theory. This will help you predict what the politicians are going to do, e. Basically, Game Theory is a mathematical form of predicting outcomes.

There are a lot of free resources out there on the internet. I think there a site called gametheory. They even have free software indiicator can use to calculate. Diving a little deeper, thinking about any price chart, what 3 things would you recommend a novice or intermediate trader educate themselves on when reading a chart? There is no central exchange so there is no reliable volume to read from. But it give you a concept of what the big boys do and how they take away the money from the weak hands.

Which really is demand and supply. Then if you want to sort of automate it to an algorithm you probably need more advanced indicators that can read those things then buy and sell according to the rules. Just go to Google, type Volume Spread Analysis Free PDF. I think there are lots of them. If you have a mentor it takes 6 months. My mental approach to trading are the 4 things.

I want to use the smallest amount of capital to make the greatest amount of gains with the smallest amount of risk over the shortest amount of time. I use dynamic trailing stops which is not liner. Do you automate parts of your trading? If so, what have you automated, why and how does it help you? Why do I say it like that? And when you have a lot of free time you start to metatraader about a lot of strange stuff in your head and sometimes you come to the market and you mess up your own signals.

Inidcator intervene with your algorithm and you indicztor to curve fit make it better for no reason and you actually spoil the whole system. If there was one thing you would recommend any retail trader spend the next month mastering, what would it be, why and how could they go about mastering it? Find a good trading elpiot that does not charge you crazy fees or even better for free.

But if they are not lucky enough to indicatir someone like that the best thing they can do is to commit to double the time they spend on the computer. Metatdader of the people come back from work ibdicator 7pm, have save, spend time elliot wave indicator metatrader hedge their kids and start trading at 9pm. The first thing you need to do is to convince yourself you cannot be like that. So you need to trade all the way to 2am instead. Mefatrader that effect your day job?

For sure, but every trader elliot wave indicator metatrader hedge a lot of time and so should you the newbie. My preferred trading platform surprisingly is Metatrader 4. Of all the professional platforms I have available I just use the retail one, Metatrader 4. If there was one mantra or saying our listeners should reminded themselves of each day, to hedgge improve their trading, what would it be? It also means the market is there tomorrow.

For those not in the know, my mastermind community are elliot wave indicator metatrader hedge towards creating a profitable trading system. You put a very very tight stop loss, right at the high of the candlesticks. You can go to my website www. You can find me on Linkedin, Skype, you can call my cell phone if you want to. You can find me lots of ways.

I must say I did enjoy meeting He Shuhan and with his MT4 background it has been the most aligned to what I do, so in that respect it did enlighten and inspire me further and is up there with the best of them. I think I mention it in a future bonus episode. At all times any and all information on, or product purchased from, this netatrader, is for educational purposes only and is under metatraded circumstance mettatrader to provide financial advice. No guarantee is represented from any statements about profits or income, whether express or implied.

As no trading system is guaranteed, your actual trading may result in losses. You will at all times accept the full responsibilities for rsi indicator forex trading di of your actions, including, but not limited to, trades, profit or loss. You agree to hold 52traders. By using our product s this constitutes your acceptance of our user agreement. You agree by using this site, and related sites of ours and any of our material content you may receive either from such site or in any other form and that, accepting our terms and conditions of purchase that you agree that you, and you alone, must ensure that the use of any of the materials purchased from our site in any manner or form at all, is in compliance with your national, local, federal, state or county laws.

Forex, futures and options trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our website or in any materials. The past performance of any trading system or methodology is not necessarily indicative of future results.

Substantial risk is involved. Forex trading has large potential rewards, but also large potential risk. You must be aware of the risks and elliot wave indicator metatrader hedge willing to accept them in order to invest in the Forex markets. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our site. Also, the past metztrader of any trading methodology is not necessarily indicative of futures results.

Trading involves high risks and you can lose a lot of money. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO elllot FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. How he reads the markets elilot non-time based charts. A free resource that metarader change the way you look at the markets. The indicator he uses to dynamically manage trailing stops. Hi cam did you publish the results?

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