The Truth about 20 Day Momentum and its variation...

Hi All,

Today I learn one truth about 20 Day Momentum. That what I have been doing is a variation of 20 Day Momentum and not the one that Courtney is sharing on the video. Thanks to Senior Eric who pointed out the truth.

Huh? Meaning? :) Meaning 20 Day momentum is to compare with ONLY the 20th Day close. If the Yesterday Close breaks the 2oth Day Close, we go into the market. That's it. It's so simple right? BUT Courtney said that this trade is NOT recommended for newbies as 60% of the trades are losing trades, hence, newbies might not be able to handle the psychological side of the strategy.

So when I told Courtney what I did, he said that there is NOTHING wrong with what I did as it is a variation of the 20 Day Momentum. In fact, there will be lesser number of trades as it has break the highest bar for the past 20 days. And more importantly, easier for us, newbies to understand :)

Hope that will help you understand.

Your Friend,
Max Tay

Weekly Stochastic Divergence

Hi All,

After losing the profits of my 2 weeks in 2 days, I have consulted with Courtney who shared with me about Weekly Stochastic Divergence.

He said that generally he uses Stochastic as a tool to determine the size of the contract. If there is a Weekly Stochastic Divergence, there is a major trend change. Hence, the opposite direction trades have more contracts e.g. based on 2% where as the same direction trades will have lesser contracts e.g. based on 1/4%.

In general, depending on the Seasonality, other than that, Risk Management should be at 1% :) BUT it's still quite hard for me as a newbie to identify the Weekly Stochastic Divergence... T.T

Your Friend,
Max Tay

I am TOTALLY *Speechless* yet again...

Hi All,

Have you ever have the feeling of falling from cloud 9? :) Well I have... in fact just this morning! *THUP* Humpty Dumpty had a great fall. Haha... Most of the trades in the end turns out sour :( I am really totally speechless yet again.

From US$900, it fell all the way back to less than $700... Which leads me to think maybe I should quit all my positions at US$900! :D But then again... A promise IS a promise ;-) Didn't we commit ourselves to follow the system?

Hence, my Senior Eric said that... that is why Courtney advises us to maintain our risk at 1% :) Lesson learnt. And time to move on! :)

Your Friend,
Max Tay

Simply Amazing...*Speechless*

Hi All,

When T Harv Eker introduce the concept of my money works hard for me and makes me more and more money, I think its crazy that it will happen... But now it really did!

At 2pm today, my current total equity (meaning some of the profits have yet to be actualized) is at a staggering $930 from a base of $500 in just 2 weeks! That's a 86% ROI! Truly amazing. And in the afternoon, I am just swimming in the pool *LOL* Just joking. I am working my Academy Business. :)

Thank you everybody for helping me. Thank you Courtney! And Thank you Universe!

Your Friend,
Max Tay

Double Whammy! Argh ):~(

Hi All,

I think I can go buy 4D or Toto leow... As I just hit a double whammy for my Inside Day :( NZD/USD pair for both my ID and MUT contracts. I think most of you will not hit that as I keyed in my orders at 5am and it filled my contract for SHORT before 8am :D

Now currently, it is on LONG contract for both my ID and MUT contracts. Greatest lost in my trading career US$28! :D But what is amazing that because all other trades are positive, overall I am still positive! :)

That's why I always try to remind myself that I am the CASINO! :)

Your Friend,
Max Tay

Verified! 20 Day Momentum Code for ProRealTime

Hi All,

The code for 20 Day Momentum have been verified by Courtney himself! :) Cheers guys! We are on the right track :)

Max Tay

20 Day Momentum and ADX

Hi All,

I just learn from Courtney that though you can enter the trade for 20 Day momentum once the close breaks the 20 Day close, he prefers to look at ADX Filter for all trend techniques like 20 Day Momentum.

Meaning, ADX must be higher than the previous day before he takes the trade. I would say because ADX measures the trendiness of the bull or bear, hence it makes sense for us to see ADX :)

Change! :) Everyone please take note ok? Remember as what Courtney have taught us on the first day, we are finding reasons NOT to trade rather than finding reasons to trade :)

Your Friend,
Max Tay

20 Day Momentum Additional Stop

Hi All,

I just learnt from Courtney that it is possible that for 20 Day Momentum we can use the last swing high and swing low as the stop to increase the effectiveness of the technique :)

This is good :)

Your Friend,
Max Tay

Why my orders have to add or subtract 3 pips?

Hi All,

The question that has always been on my mind... Why does my orders have to add or subtract 3 pips? And Courtney answered it during today's course!

His reply is that the amount of buyers and sellers at the high or low is A LOT. Hence, it is less likely that we get it at that price :) So, when we add or subtract 3 pips, the price of the order is weird. hence, very little amount of buyers and sellers, therefore we can fill the order at about the price and confirm that there is really a breakout :)

Your Friend,
Max Tay

Why Why Why?

Hi All,

A lot of people asked me why I went to learn forex under Courtney Smith and not under my friends in JF Lennon or FX1?

Let me just clarify that I didn't go learn Forex under Courtney Smith. I went to learn trading systems from Courtney Smith which can be implemented in both Forex & Futures, probably stocks too. And since, I have little capital to start with... Forex seems the logical choice to start with... and with the objective to migrate to Futures in the future :)

Currently, sitting on a ROI of close of 40% after just 2 weeks, the situation looks very rosy for incorporating this part of the trading into Cashflow Warrior Academy :) That is one of the main reason why I wanted to take up Trading System, since this is my weakest link in my Personal Finance. Don't seem so now :)

Your Friend,
Max Tay

Going into the 2nd Weekend...

Hi All,

I am going into the 2nd weekend as a Forex Trader! And today is Courtney's class again @ Copthorne King's Hotel! But I couldn't go as I am attending the Cashflow Club Leaders' Training. One of my main reason of learning trading is because one of the fastest way to grow our money is to do trading as taught in Cashflow Game 101 and 202 (Especially 202 with the introduction of Technical Analysis of Options).

Of all the paper assets, Forex remains the highest leverage vehicle - Up to 400:1. For retail investors like us, the only hope to be financially free is to have leverage as what RK teaches. Hence, this is why if my trading experience for this 3 months is good. There will be a high chance of incorporating Forex Trading into the Cashflow Warrior Academy. :)

I wish everyone have a fantastic weekend ahead of you!

Your Friend,
Max Tay

A Letter to the Google Support Group :)

Dear Tanmoy,

Thank you so much for your compliments :) Really appreciate it. The conviction of the system comes from backtesting just 1 pair of forex - USD/JYP which is the last sheet of my excel file. I went through 3 techniques - Channel BreakOut, CoFlex and Inside Day trading.

I should say I am pretty lucky in the sense that I am in my own business hence, I got slightly more time to complete the backtesting of 1 complete year data in just 3 days - Sunday, Monday and Tuesday. The ROI was rather stunningly at more than 100% mostly based on 1 contract! Hence, I started my live trading on Wednesday rather enthusiastically.

Initially I started with what Courtney suggested 5 major pairs of forex. 15mins is all I need to key in the orders. :) But learning the techniques was time consuming :D I watched Trend Analysis Video for more 10 times to really understand the concept! Then I realised that since the same methodologies can be implemented across the board, why not try with other pairs too. That is how I gone into 12 pairs of forex... Now that takes more than 15 mins to key in the orders :)

As a newbie, Risk management is very important, hence I created the excel file to calculate my risk :) As I don't have much capital, I asked Courtney what if I have low capital e.g. USD500, I couldn't just risk 1% right? That means I can't take a lot of trades! He replied that yes that's right, hence, in reality, if a person have low capital, he/she might have to take slightly higher risk. Point taken. So I decided in most cases, I should only take about 5% risk. In worst scenario, I take whatever it takes to take the trade :) During these trades, I reduce my position to the minimum number of contracts e.g. 1 :)

So every morning about 7am to 9am, I spent time to analysis 12 pairs to enter or exit the market :) Well, technically, if you do 5 pairs probably 730am to 830am is the longest you need, as 1st 30 mins is to exits all inside days, RRR and/or Reversal Bar. Next 30 mins is to analysis the charts for exits and entries to the market :) well, I am just using what Courtney taught us to enter and exit the market. *Follow the Rules flawlessly*

Luckily, as I am in micro, I made a few mistakes here and there during my learning period, the losses are little but yet the wins are more! Just like what Courtney said - losses are 1 yet winnings are 2.5 :) But ultimately I am still learning and will move on to mini account once, this account hits a ROI of 100% or 90 days of practicing, whichever is faster :)

Thanks to guidance from people like Eric Oh - A very big thank you to him. Had to privilege to sit beside him and be educated by him about certain forex basics. Thank you Eric! And of course, Tanmoy for take effort to start this google group which in fact have benefitted me a lot to understand that in this journey I am not alone ;) Thank you Tanmoy! June for collecting all the emails from everyone. And of course the picture too :P Thank you June! Courtney for taking time to answer a lot of my newbie questions. Trust me it's not easy :D Thank you Courtney!

And lastly, everyone in the group for helping and encouraging me along the way :) Couldn't have done it without you guys and gals :) Thank you. I look forward to talk to everyone on Sunday after the course. BUT I still don't know what room. And I heard from someone that there was a Webinar last night? I didn't receive any news about it T.T

Your Friend,
Max Tay
Coach

CASHFLOW WARRIOR ACADEMY - "Everyone Never Work Again!"
m: (65) 9271 8133
e: Max@MySmartMillionaire.com

Wow.... Sitting on 2,000 pips at one point

Hi All,

It's rather amazing how things are when New York market is awake.... it seems that the market suddenly went wild and I at one point was sitting on 2,000 pips of profit! :D

Well, to follow the system means I will wait until tomorrow morning closing before I do anything :) Nonetheless, the system have been working for me for the past week :) To start with a base of USD500 to tonight inclusive of all open position is USD800 is simply amazing for me. My friend who trades by the minutes in forex is even more stunning :) Though she attended Kishore's class.

I prefer more of Daily trading rather than by hour or minutes as this way is more relaxing and we can enjoy life better ;) No offense to hour or minutes traders, personal preference.

That's all for tonight. Got a meeting at 8am. Hence, I need to wake up super early to do all my trades :) Ciao~

Your Friend,
Max Tay

Doubly Mistake on RRR... haha~

Hi All,

I made a double mistake today :( Well was a comical one though. Haha.

What happen was that I was on 20 Day Momentum on EUR/GBP and the price got rejected due to the Rejection Rule. Hence, I activated RRR into the system :) However, the prices went LONG, hence, temporarily the trade is a loss.

When Courtney was online in Skype, I double confirm with him that RRR applies for 20 Day Momentum and he replied no and said he will be back in a sec. I immediately cancel the RRR trade and put in back my 20 Day Momentum trade *Now talk about immediate action ;)* To my horror, when he is back, he replied that he was distracted and after reading my question again, he said that RRR applies to 20 Day Momentum Rejection Rule! I almost fainted when he said that... =D I have already left house for breakfast....

Anyway, when I got home, the trade is a loss. Courtney said, "Always remove losses and remain with winners". Hence, I remove the trade and skip the RRR since, there will be plentiful chances for me to practice it again :) Though this lesson cost me about $11.50, but it's still a good lesson! Overall until now with all my open positions, I am proud to say the Total Equity now stands at about $680. Let's keep our fingers crossed that it will grow even more :)

Your Friend,
Max Tay

RRR with MUT without Limit *sob*

Hi All,

Newbie is a newbie :) I used RRR (SHORT) with Opposite direction (LONG) supposingly MUT on NZD/USD yesterday for the very first time. Quite proud of myself.

*ALAS* I never set the 20 pips limit on the SHORT position, hence what happen was this. First, LONG Channel Breakout and the price got rejected, as the close is lower than the breakout level. RRR comes into action. We are to get in with a SHORT position immediately. I got in without using a MUT on SHORT. On Courtney's teachings, RRR we are to set up 2 more waiting position on LONG if the prices shoot all the way up breaking the high of the rejected bar. 1 position supposingly with MUT. Hence, I set up 2 more position on LONG with 2 contracts each.

Prices overnight shoots all the way up. My SHORT position got stop out. My two positions of LONG got activated. With luck, one of position hits the limit of 20pips and got out. Hence, my loss is minimized. *phew* Thanks to MUT. BUT overall, the LONG position is also negative when I close the position. Hence, I should have set a MUT for the SHORT position to reduce the loss too! *SOB*

Anyway, this is a good lesson for me. And I will be doubly careful the next time round :) BUT the good news is that overall I am still positive - all my open position inclusive I am still at about $630! Thank you Universe! My money works hard for me and makes me more and more money!

Your Friend,
Max Tay

What a disastrous night...

Hi All,

You know now I understand why we as newbie should start Micro account rather than mini :) My current open position shoots up to 1,300 pips and crashes down to negative 100 pips in just less than 24 hours :D

This has taught me a very good lesson as how risk management is so important :) I guess that is why Courtney focus the morning session on Mindset and Risk Management. Hence, it might not be a bad thing to focus on other stuff once the trade has been set for the day.

Like what my Senior, Eric Oh, says Cast your net in the morning and get it back the next morning and cast a new one again :) And I like his analogy because this way My Money works hard for me and makes me more and more money! :)

Your Friend,
Max Tay

Daily Trading Excel File

Hi All,

I find a need to have a Daily Trading File to help me manage my risk better. BTW do note that Courtney advises us to trade only 5 major pairs.

Hence, I deviced a way to do it more systematically because the file will tell me how much risk am I taking so that I can increase or reduce the number of contracts I should do. At the same time, I conclude that what Robert Kiyosaki said is right where You make money when you buy not when you sell. Hence, entries to the system is more important than exiting. No, don't get me wrong, both are important, just that entry is more important than exit.

Therefore, I put those techniques that require fast entries and exits to the market first on the left e.g. CoFlex, 20 Day Momentum, Riding the Rejection Rule and probably Reversal Bar in the future. Then the rest of the techniques e.g. Inside Day, Channel Breakout and Trend Analysis which takes a bit of time to key in.

So what happen here is that I scan through all the pairs for CoFlex Entries and Exits first, Then 20 Day Momentum, Riding the Rejection Rule and lastly Reversal Bar. And I will scan for any exits all my Channel Breakout and Trend Analysis (Note that I usually exit my Inside Day trading at the close at about 7am to 8am to save time :) ). Lastly, setting up for all the Inside Day, Channel Break Out and Trend Analysis. And then, I will go do my other stuffs leow...

Thats' all for now. Feel free to ask me any questions so that we can improve and if you want the file, let me know and I will email to you.

Your Friend,
Max Tay

Multi-Unit Tactic

Hi All,

I just learnt from Courtney that actually Multi-Unit Tactic (MUT) can be used on any other methods that he taught! e.g. Reversal Bar, Riding the Rejection Rule, Inside Day, etc...

This is rather amazing :) of course we set the MUT to 20pips for forex and probably 20% of the trade for any others...

That would increase the profitability and reduces the risk of every trade :) At the same time, Courtney also mentioned that he would prefer to increase the contract of non-MUT rather than the one with MUT as he said, "Always give the benefit of the doubt to making a lot of money!"

Though I chose to stick to balance approach (meaning 2 contracts with MUT and 2 contracts none) in the beginning, I am gradually shifting to what Courtney teaches.

Your Friend,
Max Tay

Oh so I am not the only one...

Hi All,

I just receive a mail from Mr Chio stating that they too face the same thing in their demo account using Courtney's methodologies. It is psychologically very hard to let go the profits when you see it in the screen. I guess that is why Courtney said you don't need to see the screen for the rest of the day :)

Anyway, just to re-confirm my determination, I hereby proclaim that I will stick to my trading system no matter what happens! Why? Because I am THE Casino! :) Like one of my mentor always say, "Psychological (Mindset) aspects are always more important than technical know how :)"

Your Friend,
Max Tay

22nd July Mixed Feelings

Hi All,

You know at about 9pm last night, once again I was feeling I am a legend in my own mind :) seeing 1,300 pips in all my open positions is good BUT in this morning closing time, it is only about 400 pips. Giving away about 900 pips really makes me feels like a idiot! Thinking I should have exit then...

But like what my Forex Senior, Eric Oh have said,"You need to follow the system! That's Courtney's system." I realised that we agreed to follow the system and so we must do so. I should be glad that the system makes sure that I am on the positive side :) ROI about 16% for the past week of trading :) This is something I have never done in my entire life.

Thank you Universe!

Your Friend,
Max Tay

New Link to View the Track Record

Hi All,

Thanks to Tanmoy's suggestion. I think I figure out how to let more people view the file more comfortably :)

Please click on this link http://spreadsheets.google.com/ccc?key=tbVWLiIbrjIUIk1tvbLusGA to see the file in google documents :)

cheers!

Your Friend,
Max Tay

We are finding reasons NOT to trade rather than reasons to trade

Hi All,

I have just spoken to Courtney and he reminded me something I felt that is very important. And that is

We are finding reasons NOT to trade rather than reasons to trade!

Too many of a times, newbies like me, became impatient and keep finding reasons to trade rather than reasons NOT to trade. That's why I respect and admire Courtney Smith for being so true to his own words :)

Thank you Courtney!

Your Friend,
Max Tay

Trend Analysis Synopsis

Hi All,

I have finally grasped the concept of Trend Analysis *I think* haha... anyway, it is as follows:

First, ADX Filter rule: ADX MUST be higher than yesterday. If not, we don't take the trade.

Secondly, we identify the last 2 swing hi and last 2 swing lo.

Thirdly, we see which trend it is.

Definition of Bull: Higher Hi and Higher Lo
Definition of Bear: Lower Hi and Higher Lo
Definition of Neutral: The rest

If it is a Bull Market, we set an entry if it breaks the Higher Hi (whatever price + 3pips), we go into the market.

If it is a Bear Market, we set an entry if it breaks the Higher Lo (whatever price - 3pips), we go into the market.

*NOTE: We don't go into a trade, if it is a megaphone formation (Higher Hi and Lower Lo). BUT if it is a Pennant formation (Lower Hi and Higher Lo), we set up two entries to go into the market - One for breaking the Lower Hi & the other one for breaking the Higher Lo.

Lastly, we set the stop loss to be Last Swing Hi for SHORT or Last Swing Lo for LONG. We change the stop loss everytime there is a new Swing Hi (SHORT) or new Swing Lo (LONG). And of course, only Bishop Rule applies here.

That's all folks :)

Your Friend,
Max Tay

20th July Result

Hi All,

Can I make a confession? You know I must admit that when people talk about Forex Market making money, I said yah yah... if Forex Market is so good, everyone will be rich leow... BUT now... it is a different story...

Yesterday just basing on Inside Day Trading, the system made about 495.1 pips :) Nice one. I am pretty amazed myself too. As this are real trades and I am still in training mode, I am using Micro account. BUT I kept thinking what if I am using a mini account?!!? That would superbly nice :)

With my capital less than USD5,000, I don't think I would open a Mini account for the time being. At one point in the trades, I was using as much as USD75 for the deposits in Micro, so in Mini, that would be USD750 (assuming I am using 400:1 Leverage). Hence, I know I need at least USD2K for mini :)

Jia You!

Your Friend,
Max Tay

I AM NERVOUS

Hi All,

This is so funny. Now my pip count for the day is at about 1,100 pips. And I am feeling nervous :) Thanks to Courtney!

Now I pretty much understand why there is someone in the course asked this question that he is nervous too when he is winning. At that moment, I thought that question is funny as Who would be nervous when someone is winning!?! Now, I am in his position! :) So ironic.

Nonetheless, I decided to call my Forex Trading "Shi Xiong", Eric Oh who calmed me down saying that is normal :) It's always good to have someone to coach, guide and be your listening ear and that's why We set up the Cashflow Warrior Academy just to do that! Thank you Eric once again!

I will give you a breakdown of the results tomorrow latest by 9am in the morning :) It might go higher! :D

Your Friend,
Max Tay

London Market is really the biggest forex market

Hi All,

Though I know this already but the influx of activities when London market opens is tremendous! :)

This allows my Moo Moo Land money NZD/USD hits the 20 pips mark after almost 12 hours setting the order for it :)

For the first time (well this is really the first time I have 15 positions open), all the open positions are positive *OK I admit for 2 split seconds only* haha. Really Amazing. Thanks Courtney!

Your Friend,
Max Tay

CoFlex Stop Loss

Hi All,

When talking to our Trading Mentor, Courtney Smith, I learnt that though in CoFlex Video, he said that we use the Last Bar technique to have the stop loss. BUT he improved the method by using the last swing hi (for a SHORT CoFlex) or swing lo (for a LONG CoFlex) as the stop loss.

Yes, the gap is wide hence, the person should always follow the risk management taught by Courtney. Like me, I am using just 1 contract for the time being for all my CoFlex trades before I will increase my position in the future.

Your Friend,
Max Tay

Its Monday!

Hi All,

I work up at 516am this morning! Geez. This is not good for my health, well, because I would like to confirm the market opening at NZD market 5am :D What I saw was HORRENDOUS pip spreads! :( I still made certain calls then, but it turn out fine :) GBP/USD remains System's worst call until now. But generally it's fine.

Was very busy keying in orders in the morning. Made 6 Inside Day Tradings and 5 pairs hit 20 pips and got out safely :) I had lots of time to prepare on sat and sunday, guess preparation work is necessary :) My Ideal Business have started for 4 days and like what Courtney have said; at times we feel like an idiot - like me when I saw GBP/USD was negative 100 pips and at times we feel like a genius - like me when I saw my account crosses $600 from $500 - ROI of 25%! But I guess, we should all have faith in the system and follow the rules flawlessly :)

And fantastically, this morning, I have the privillege to talk to our Trading Mentor, Courtney through Skype. And he had answered alot of my newbie questions (I hope he don't find me annoying :P). Later I will post my learnings if I have the time.

That's it for now.

Your Friend,
Max Tay

Difference between FXCM's MarketScope Close and ProRealTime Close

Hi All,

I realised that the closes are different on these two different charts, hence I decided to listen to Courtney Smith's Newbie Webinar and realised that ProRealTime Closes is based on GMT 00:00 which is 8am Singapore Time. But MarketScope's Close is based on 2 hours before that.

Therefore the difference of time. Great! Solve the mystery finally :)

Your Friend,
Max Tay

Great Forex TimeZone Converter

Hi All,

I found a great tool for newbies like me which is Forex Market Time Zone Converter at http://forex.timezoneconverter.com/index.cgi?timezone=Asia/Singapore.

BUT it contradicts with what Courtney said about Forex Market Opening hours... hmm. let me check it out tomorrow morning and get back to this blog later.

Your Friend,
Max Tay

2nd Inside Day

Hi All,

Initially I thought I forgot to put in the limit trade, but yes I did :) EUR/JYP made 20 pips long, hence, 1 contract exit. 2nd Contract was a losing trade at -$2.70, therefore in total, this trade is a loss of $0.70.

Amazingly, Multi Unit Tactic is working as it should be :)

Your Friend,
Max Tay
Coach

Cashflow Warrior Academy - "Everyone Never Work Again!"

Joke of the Week

Hi All,

I just had the best joke of the week. My girlfriend said that Courtney Smith is a liar. Why? Because I took more than 15 mins a day to trade :P Oh no... I overworked! :D

Your Friend,
Max Tay

Weekend Lesson

Hi All,

I realised what they mean by Forex Market closes on Weekends. I can't cancel my inside day orders! And I have one filled contract for inside day! haha. learnt my lesson on Weekend :D

Your Friend,
Max Tay

20 Day Momentum Stop Loss

Hi All,

We go LONG tomorrow open if today close is greater than 20 days ago and we go SHORT tomorrow open if today close is lesser than 20 days ago.

That is essence of the 20 Day Momentum. But the question is about which technique can be combined to make the technique more profitable. Hence, Courtney mentioned in his video that Last Bar, Rejection Rule and Bishop Rule all helps this method becomes better.

Apparently, we do not use ADX Filter for this technique. Just follow the 1st statement :)

Your Friend,
Max Tay

20 Day Momentum ProRealTime Code

Hi All,

I think I figure out the codes for 20 Day Momentum. Add the indicator as the same as how we added the 55-20 Day Channel Breakout Indicator.

// Define a period
period = 20

H = highest [period]( close )
L=lowest [period]( close )

return H as "20-Day Highest Close", L as "20-Day Lowest Close"

Oh No... What should I do?

Hi All,

Apparently Forex market really rest on Weekends. And that's a good news :) A big thank you to Eric Oh to educate about the Forex Market in Weekends. Hopefully, our Trading Mentor Courtney Smith will answer my question in the forum about closing on saturdays :)

Anyway, today was really an heart pounding day as my potential losses was stretched to about US$30! but now its only less than US$10. :) *phew* amazingly, I didn't see the highs and lows for CoFlex, I just look for crosses when doing backtesting. Now I truly understand why we should trade LIVE rather than demo accounts :)

Anyway, everyone have a good weekend ahead of all you!

Your Friend,
Max Tay

Mistake in Entry found!

Hi All,

OMG! I found an error in my trading entries for NZD-USD! *Phew* hehe. Inside Day trading :) Its good to double confirm the entries. Its rather confusing as FXCM Brokerage allow us to trade half pip hence I have to take that into consideration :) if you see my excel file, you will understand what I mean.

Cheers. Seems like luck is on my side :)

Your Friend,
Max Tay

Seeing Negative...

Hi All,

For the 1st time in my trading career (seems like eternity), I have seen losses *eeks!* Feeling wasn't very nice. Like what our Trading Mentor said, feels like an idiot. :D Bearing in mind it is not stop out yet, just in the process of CoFlex and TA.

Well nonetheless, it is the SYSTEM that gives the signal, so if I incur any losses, its the SYSTEM that is the idiot! :P haha....

Anyway, I have improved the Excel File for better trading. Any comments please leave behind :) Special Thanks to Gary :) And of course, you would have realised I have shifted the excel to top for better viewing :)

Your Friend,
Max Tay
Coach

Cashflow Warrior Academy - "Everyone Never Work Again!"
m: (65) 92718133
e: Max@MySmartMillionaire.com

Emotions is the key to trading

Hi All,

I realised that trading is all about controlling your emotions rather than techniques :) I just did 3 CoFlex and emotions are running high. What if I lose my 100pips? Haha... But in the end, I remember what our Trading Mentor teaches which is to follow the system. Hence, I put in 3 CoFlex Entries and 1 Trend Analysis Order.

I am still trying to figure out Trend Analysis but nonetheless, I am on training for 1 year and I will continue this blog to report the results Good or Bad :)

Your Friend,
Max Tay

Trading Records

Hi All,

Ok, finally I figure how to publish the excel file out :) So at the end of my blog, it will have my most updated trades. Yesterday I made about 100pips! Amazing :)

Anyway, I made a few trades today :) 2nd day of my ideal business. Hopefully, the system made the right decisions :)

Side Note: Gary Goy seconded the idea, hence, we shall start a Newbie Meet up right after Courtney's Class on the 26th July? How about that?

Your Friend,
Max Tay
Financial Freedom Coach

Cashflow Warrior Academy - "Everyone never work again"
m: +65 92718133
e: Max@MySmartMillionaire.com

Newbie Help Group?

Hi All,

I was thinking to setup a Newbie group for Courtney Smith course where we as seniors should physically be there to help newbies like me to setup their computer and their brokerage so that they could trade immediately.

Some basic information is purposely omitted from the course to save time. So that Courtney can teach the most important stuff :) I need volunteers... Who is willing to spare 2 hours a week, pls raise your hand ;-)

Your Friend,
Max Tay
Financial Freedom Coach

Cashflow Warrior Academy - "Everyone never work again!"
m: +65 92718133
e: Max@MySmartMillionaire.com

How to CoFlex?

Hi All,

Alot of People asked about CoFlex. Well, after watching the video, I believe Courtney added two indicator - Moving Average 10 and TEMA 21. This two indicator will cause 2 lines to cross which is the entry point :) Rather amazing and simple technique :)

In my own charts, I purposely make it into one green and one red line :P I think USD/CHF is about to cross :) Cheers to Courtney!

Your Friend,
Max Tay
Financial Freedom Coach

Cashflow Warrior Academy - "Everyone never work again"
m: +65 92718133
e: Max@MySmartMillionaire.com

6 hours since my first virgin trade

Hi All,

6 hours have passed. As what Courtney Smith have said, it is really rather bored :P can't wait to tomorrow 8 am. haha. At the current moment, I have 1 closed position of positive 20pip, 1 open position due to Multi-Unit Tactic for Inside Day Trading.

Hence, for own my account is definitely positive :) I am still currently undergo intensive self study on Trend Analysis and Stochastic. I think I am getting the hang of it. Watching the video again after my last appointment 830pm to 10pm :)

Your Friend,
Max Tay
Financial Freedom Coach

Cashflow Warrior Academy - "Everyone never work again"
m: +65 92718133
e: Max@MySmartMillionaire.com

Finally it happened! My Virgin Trade Entries!

Hi Superb Traders,

I have finally put in my virgin trade entries! Was quite exciting and nervous experience *wink* 7 entries in total for EUR/JYP, EUR/USD & USD/JYP.

Though I am not able to do it at End of Day as planned (8am Singapore Time), but after checking the prices of FXCM Trading Machine, I am quite safe to put in the trades :) used about 30 mins because I have check my risk factor which is 10% of my total equity.

You probably wonder why such a high risk factor? Well, the capital is small, hence, as what my Trading Mentor says, I might have to take higher risk. Which I have limit to 10% of my total equity. *Remembering what Keith Cunningham have said :)*

Your Friend,
Max Tay

BIG Thanks to POSB/DBS!

Hi All,

I have finally revolve everything thanks to the fast reaction from POSB/DBS staff such early morning :) They changed my name and purge out my void transaction immediately so that I can use the card for FXCM deposit without an issue. Though I need to wait 3-5 days for the card, but who needs the card anyway :P

I have also confirmed that End of Day data for Pro Real Time to be about 8am Singapore Time (me waited since 5am this morning to confirm that).

Your Financial Freedom Coach,
Max Tay

Cashflow Warrior Academy - "Everyone never work again!"
m: +65 92718133

A Blip at FXCM Depositing

Hi All,

FXCM is really a very strict company. My Credit Card name is not the same as the one I registered with the account and it rejected my deposit. DUH! !@&*@$&(&#&$#*

So I might need to get one card that have my NRIC name on it. This is really incredible.

Your Friend,
Max Tay
Executive Coach

THE SMART MILLIONAIRES GROUP PTE LTD
m: (65) 9271 8133
e: Max@MySmartMillionaire.com
w: www.MySmartMillionaire.com
msn: max.tay@hotmail.com

2 Days after my Ideal Business Seminar

Hi All,

After 2 days of backtesting through 2008, with 3 techniques, namely Inside Day Trading, Channel Breakout and CoFlex, my ROI is 100%* (mostly based on 1 contract only). You might ask me why no Trend Analysis? Because that is a technique that I am still figuring out :) I am currently not swinging yet :P I hope that I can upload my track record up soon...

Opened a FXCM Micro brokerage account and just deposited USD$500 through Credit Card into my account. Thought I could start immediately but alas! They need about 1 working day for the money to be deposited into my account :(

Your Friend,
Max Tay
Executive Coach

THE SMART MILLIONAIRES GROUP PTE LTD
m: (65) 9271 8133
e: Max@MySmartMillionaire.com
w: www.MySmartMillionaire.com
msn: max.tay@hotmail.com

*Note: This backtesting doesn't include pips spread (i think) and slippages.

My 1st Start to my Trading Career

Hi Cashflow Warrior,

I just started Courtney Smith's Ideal Business Seminar today and one of the homework is to start My Trading Journal. That's why I am starting this blog. This blog will include all the system's trades, mistakes & winnings and of course, my feelings and learnings.

So let me now share some of the important sharings of Day 1 (morning session):

1. Different strategies for different people depending on individuals' personality and lifestyle
2. Follow the Rules flawlessly
3. I want to be the Casino - I will have some losing trades, even in a row sometimes *hopefully not*, but at the end of the month or year, We will be be in the winning side.
4. We trade with an Edge by leveraging on Channel Breakouts
5. Execute the Plan flawlessly
6. Be Consistent & Persistent
7. My Job is to make money NOT be right

Ok. Lastly, I need to read the "Why You Lose" & "Keys to Trading Success" on http://www.maxfuturesprofit.com.

Your friend,
Max Tay
Cashflow Warrior Academy - "Everyone Never Work Again"

m: +65 92718133
e: Max@MySmartMillionaire.com