I thought I'll share some examples of discussions from our Skype Live Trading Group. While it is possible you may get some nice trading signals during your presence we think that it is not important. Because as they say,
So you get more than just a fish inside the room. We share what we have learned about the fish and the pond. We know which fish taste good, where to catch them and what are the perfect times for catching one. We also know the different tasty recipes of cooking the fish in several different ways. So how do you like your fish?
"Feed a man a Fish and you've fed him for a day, Teach him how to Fish and you've fed him for life"
Frank asks a Question which basically meant this,
"Is there a way that we can find more accurate information about the instrument we trade, so we can make more informed decisions than we already have so that we can increase the chances of hitting more winning trades".
So I thought I'll share my answer here with you.
[16:03:16] Immy AIMS: why would I need that?
[16:04:11] Immy AIMS: I'm not sure how that will help me in trading when I only need to know, whether there is a signal to buy or sell.
[16:11:18] Immy AIMS: more knowledge means more fear
[16:11:26] Immy AIMS: in trading, knowing less is MORE.
[16:11:40] Immy AIMS: in life knowing less, more specific knowledge is better for life overall.
[16:13:25] Immy AIMS: e.g. if you are an engineer, know about your stuff, do it perfectly and elegantly in most efficient manner, helps you achieve more than trying to learn everything about all engineering world. you'd lose focus. If trading dax on m1, knowing when there is a signal and major economic events is better than knowing when will BMW release its data, i'll have to keep a track of 30 companies. on m1. bloody hell.
[16:14:17] Immy AIMS: I'd rather join NASA as an astronaut :)
[16:14:31] Immy AIMS: ok out of the shorts and done.
[16:15:11] fran87wonneberger: maybe you are right,man
[16:15:22] Immy AIMS: The Fruit Strategy does not even get you in trouble within choppy markets. A few tries and you know its chop so you stop. if not a chop just take fruit and SAR and you'll be ALWAYS in line with the trend.
[16:15:54] fran87wonneberger: 15:54 y took short fruit gmt
[16:16:24] Immy AIMS: The first thing that a typical trader does, addressing "the Problem of losing trades" is to "gather more information about the market".
[16:16:39] Immy AIMS: it makes perfect sense in common life. you want to solve a problem, gather n trading, though, it is the worst mistake. because Losing is not a problem
[16:16:59] hthang140873: I wish I can thing and do like you but I cant at the current
[16:17:24 | Edited 16:17:38] Immy AIMS: I repeat, problem in trading, if you're not making money is NOT, I repeat NOT losing trades.
[16:18:04] Immy AIMS: let me rephrase, your problem is not the face that your are making losing trades.
[16:18:20] fran87wonneberger: i carry big fx baggage
[16:18:45] Immy AIMS: let me rephrase, the problem that stops you from becoming a consistently successful trader is not that you gather losing trades.
[16:18:56] fran87wonneberger: the good thing is that i am doing well since i trade the dax now i see fx mkt differently as well
[16:19:54] Immy AIMS: but the mind thinks losing is a problem and it needs to be fixed. so you go out in search of more information, better information and more "accurate" information.
Sadly though you'll be Greeted by all too clever marketers who KNOW that you're in search of holy grail so they sell you dreams and you want to believe them.
> because you're frustrated,
> you are too tired of losing,
> you so eagerly want to win.
> you want to make millions out of trading just like the hundreds of city boys whizzing around in their brand new ferraris.
> You want to have that life of luxury and carefree, "all-bills-paid-no-worries" "money-no-problem" Life.
The marketers present these "Carrots" to you or presents to you known and common trading "problems" and then gives you the carrot. You are ready to fall for it.
[deleted irrelevant message here ]
[16:21:45] Immy AIMS: The result once again you fail and you're disturbed, even more frustrated, even more eager to find the "solution. At this stage most of the traders give up. But some are not like that, some are like you, constantly learning and improving. So you continue the search.
[16:23:36] Immy AIMS: Sadly for most, it could be years later that you find out, that even a system with a very small edge could make you money. Or may be you were lucky and you found a really good place where you learned the real answer. Such as iTradeAIMS.com such AIMS Stress Free Trading. (hehe)
but the problem is not "how to stop losing money" the problem is not, "how to stop making losing trades". the problem is not even how to make winning trades, neither it is how to find perfect entry, exit and money management plan.
[16:23:47] Immy AIMS: The problem is = How to be a consistently successful trader. And the answer to that is, Patience and Discipline. You then ask a question, "How to be disciplined". "How to make consistency part of your trading personality".
[16:23:59] Immy AIMS: and the answer to that is INSIDE YOUR MIND.
[16:24:12] Immy AIMS: The mind is the problem as much as it is the solution.
[16:24:22] fran87wonneberger: i agree on that 100%Immy
So this is what we discuss in our Skype Live Trading Group.
By the way, if you're eager to know what is the answer to the above Question. You're lucky because we have written an eBook specifically to answer this question. Previously only available to AIMS Premium Members.