Skip to main content

Do you know the system inside out but still not making money?

If you are one of those who know their system but still either consistently lose money or not making money you might want to read this.

You may be suffering from two inter linked things. Fear and Procrastination. They are both the main reason for failure. It is the opposite of decision and Lack of decision making skill is on the top of reasons for failure as agreed by many scholars and writers around the world.

The ability to quickly and effectively arrive at a definite decision is the difference between successful and non successful traders/people. Hence the 10second rule.

Do you think you can take a setup within 10sec? If not procrastination might be the cause.

The fear of trading is what gives birth to procrastination. Its the killer of all opportunities.

How to cure Procrastination:
There are many books on this very important topic. I sometimes suffer from this and all the "coulda, shoulda, woulda" kill me afterwards. Bill Williams was asked what was the worst thing that could happen to him and he pointed towards procrastination. I would put in words like so, "If I were to see a setup and not take it that would kill my trading"

"Procrastination is always based on a dysfunctional world-view, such as that "short term relief or pleasure is better than sacrifice for long-term rewards," along with irrational disregard for negative consequences. The procrastinator fails to engage in the appropriate course of action either due to a distraction of some sort or an inadequacy in their own behaviour. Various distractions and incompetencies that can cause procrastination include, but are not limited to:
  • Addiction
  • Anxiety and fear
  • Arrogance, pride
  • Aversion
  • Bad habits
  • Discouragement
  • Disorganization
  • Distraction
  • Family problems
  • Fear of failure
  • Feeling overwhelmed
  • Frustration
  • Illconceived goals and unconscious motives
  • Indecision
  • Lack of awareness
  • Lack of morals
  • Lack of time management skills
  • Low ambition
  • Low frustration tolerance
  • Low self-esteem
  • Low tolerance to stress
  • Objective conflict
  • Paranoia
  • Perception of difficulty
  • Poor attitude
  • Poor self-control skills
  • Poor study skills
  • Rebellion
  • Resentment
  • Self-centeredness
  • Self-deception
  • Uncertainty"    ( 

In later posts I will share how I deal with Procrastination problem and what is my Mind Exercises routines. They help me stay in control, relaxed with sharp focus and happy.

Popular posts from this blog

Count Elliott Wave within 10 Seconds

After Reading this material you should be able to do the following:
Objective 1. Understand Elliott WaveObjective 2. Count Elliott Wave within 10 SecObjective 3. Learn how to use AO
Objective 1

What is Elliott Wave? 

We believe the market has a structure. That structure is Elliott Wave. We also believe that the structure also has a structure and that structure is shown to us on our charts by using our indicator AIMS Levels. EW consists of impulse waves and corrective waves. We are interested in trading the impulse waves and avoid the corrective waves.

Which wave is most profitable and easy to trade?   

Wave 3 is where we make money. Our strategy puts us right into the impulse waves, where the money is made.

Hypothetically, this is how Elliott Wave looks like.

Within each Impulse wave there are 5 waves.  of which wave 1,3,5,  are again impulse waves whereas wave 2 and 4 are corrective waves.

An impulse wave consists of sequence of 5 waves starting from 1 up 2 down 3 up and 4 down an…

Count Elliott Wave in 10 Sec

Example of Setup 1 and Setup 2. In the Chart below the blue arrow that point to the Red Dot is the spot which we Call Setup 1. The next AIMS/Fractal Level immediately after it broke down is what we call Setup 2. At the Red Dot alligator was sleeping. While at the second break Alligator mouth was open to the downside. 
Updated 11:00 BST

How to Trade Wave 3 Make HUGE PROFITS

The most important thing I learned few years ago was that the market was a wave. Well not the market, but the charts that we look at. It always moves in waves. Someone actually named them after themselves but we don't really need that lovely name (Elliott Wave). Because we don't need to complicate things.

When I talk about waves, I don't mean the popular Elliott Wave. I mean the WAVE we have on the most beautiful indicator called, ahem it has many names, AO, The Awesome Oscillator, The eWave, AIMS Wave etc.  It helps us see the market in a smooth wave going above and below a certain Zero Line. .. It helps you ignore the going up and going down of the price concept. For us technical traders, we don't have an up and down as such specially in forex. All we see is eWave turning Red or Green.

Assuming you already know a bit about the wave. I know most of you will want to know the answer this fantastic question. How to trade the third wave?

They all ask that question, and s…