Next Step-by-Step Discussion Webinar

Hi All,

I am working towards to have a webinar this friday evening. Hopefully I can work out my schedule by today.

Cheers

Max

Last night Discussion Webinar

Hi All,

this was the 2nd time I have ever run a Discussion Webinar. I was pretty uptight about it as I don't know whether how good it will turn out. Nevertheless, it turn out well.

Some key things I could have done better was that the capacity of the room is only 16. there are some other people who couldn't come in. I sincerely apologise for that. Not intended but I will try to improve on that. Another thing was I have to mute all :( Wasn't intended that way but rather the distraction sound from some parties are just simply too distracting, hence for the benefit of all. BUT they still could type in the questions and we can discuss along the way :) Just that I become the narrator of all questions, hahaha.

Please keep your feedbacks coming so that we can improve the whole process better :)

Max

Shall I or Shall I not?

Hi All,

Everytime I myself see a profitable trade and the next day see another signal to enter based on the same technique, I always ask myself this question. Should I pyramid?

This question I answered myself yes in so many times but yet come out injured :D Hence, after several occasion of unsuccessful pyramiding, I told myself to keep my ass out of pyramiding :) I guess it is the same thing when I asked Courtney that I saw a CoFlex signal 2 days ago, I just started trading, shall I enter the trade using CoFlex now? Courtney always reply wait for another signal :) The same reply came out is "We are always lookings for reasons NOT to trade rather than reasons to trade."

Hope this helps :)

Max

Yesterday Webinar notes.... (See Disclaimer)

Hi All,

Got notes from a very diligent student to share with all of us yesterday webinar :)

Some interesting points on forex and techniques:
(all quoting Courtney of course)
1) Mkts are currently going sideways.
Volatility will increase in Sept.

2) EUR-JPY
Wasn't trading this pair much currently, as it is going
sidewards.
But expect a major breakout on the up/down side
soon. (refer to weekly charts in 2008 to see trend)

3)EUR-USD
Should try to short.
Courtney broke some rules on this pair by entering
TA etc when ADX was down, becoz he thinks
weekly SSD is very impt signal. Lost money...
At the moment, Long on coflex is the correct
position to be in.

4)AUD-USD
Pay attention. Weekly SSD in W24 n W30.

5) Whenever a breakout fails, pay attention.
Differentiate between a premature breakout
and a false breakout.
Former goes back to expected direction.
Latter fails n keep going in opp direction.

6)GBP-USD
Very important pair. Watch closely! SHORT this.
Switch from shorting EUR to GBP, as this looks weaker
now.
Watch for ADX to move up (soon)
Can hv many trades using differ techniques.

7)USD-CHF
Corr. not trading

8)USD-JPY
Watch!
Has potential to be profitable on short side.
Has rising ADX while others hv decreasing ADX.
Possible to short using TA, 20D, CBO n
Conqueror.

9)Sept is a good mth, since Jul n Aug is dull. about
to enter into a trending period.

10) Don't trade ID if mkt is not volatile.
Check ATR for volatility. (eg.16 is low)
The less trending the mkt, the more double-
whammies.
Can trade ID in:
EUR-USD
GBP-USD
CHF
JPY

Disclaimer: The minutes-taker cannot be held
responsible for any discrepancies. Read at
your own risk. Listen to webinar recordings.

Conquerer's Indicator

Hi all,

I did the programming of the 2 Indicators required for Conquerer in PRT.

10 Day Ago 10 Day Moving Average

period = 10

MA = Average[period](Dclose(period))

return MA as "10th Day Ago MA-10"


40th Day Ago Close

period = 40

C =close [period]

return C as "40th Day close"

Hope this helps :)

Max

What is more important? Strategy, Discipline or Psychology?

Hi All,

Today I was asked a question by one of my Mentor that continues to baffle alot of people.... Which is more important? The Strategy, Discipline or Psychology?

If I haven't started trading, I don't think I would have chosen the right answer. :) Yes, the answer is Psychology. I was discussing with Roy Phay about trading system and both of us agree that there is no perfect trading system and probably most system made money. BUT the key question is how many of us will have the mindset to continue using the system when we are not making money like now? :)

Max

P.S.: My Mentor answer is 1% Strategy, 19% Discipline and 80% Pschology :)

Max Tay's Weekly Stochastic Divergence detected!

Hi All,

Though today yet again marks the lowest of my Total Equity, but my feeling about it is so much better. Hence, a Weekly Stochastic Divergence was formed :D Lame but I guess it is just part and parcel of a Trader just like what Eric told me in the afternoon. :)

Gam Ba Teh~

Max

I am blessed to have you all...

Hi All,

I think its really fantastic to see the comments left by KinLiang, Andre, Jane etc... When I went through the trading again, I realised that there is always few months of ranging market in every pair of forex. And I kept asking myself did I analyse wrongly, the answer was mostly no. Can I do better? Definitely! And that is why as much as possible I been talking to Courtney almost everyday. And that is how mainly I kept my confidence up :)

Nonetheless, I know I am with the right Trading Mentor and market will prove that the techniques work! :)

Max

I am getting used to it :D

Hi All,

after so many days of sliding down, I kinda getting used to losing money *OMG* is that good or no good? :D

I was talking to Dr Chua Ley Suang yesterday and she was feedbacking that she trust the system completely and just getting papercuts all over while waiting for a trend to form *ouch* She in her bubbly matter told me why did she signed up Courtney Smith's class. She said that she have read about the Turtles before! In addition, the person next to her at NWA have heard about Courtney before and told her that Courtney is a legend and did lots of amazing things in the industry.

It's rather interesting to see that newbies like me are so ignorance of things. Nonetheless, I am glad that I was shown to the right Master to make things happen. Let's pray hard that a trend will form soon :)

Max

Sian....

Hi All,

Today marks my lowest Equity Chart of my trading career... To say I am not affected by it is lying :D For the past 2 days, I couldn't even get myself to do my own Equity Chart. It is rather dreadful... hahaha

But I told myself that I promised myself and everyone that I will do it to give a truthful picture of what I have went through instead of just selling a rosy picture :) Hence, today I did it out finally after much resistance and reluctance of showing the truth...

God Bless me and my trading :)

Max

What a loss to the Local Forex Trainers Community...

Hi All,

this morning I received one news that I think is definitely a loss to the Local Forex Trainers' community... Founder of a local Forex training company left. I was speaking to him about Trending and Ranging market's strategies and he broke out the news to me. He is a person whom I respect ever since I was in Training Industry. But overall, I know he is definitely no regrets about it.

Nonetheless, as an experienced Forex Trader, he said that for the problem with Trending strategies (e.g. Courtney Smith) is you get lots of paper cuts during Ranging market and of course vici versa. And most retail traders, especially newbies like me :P, couldn't accept small losses and expects the strategies to win all the time. They didn't last long enough in the game and what counts is at the end of the month and not everyday! That's why the recommended trading time is about 1 year. (Sound familiar?)

Now, I fully understand why Courtney emphasises so much on Risk management. So that we can last through the paper cuts until a Trend is form as most of the time, the market just trade sideways!

Max

BUG Fix: Daily Trade Tracker version 090818

Hi All,

Someone feedback a bug on the stop for CoFlex. It doesn't tick the Last Bar for its stop. Hence, I have fixed that up and and now downloadable under Traders' Tools :)

NOTE: You can don't download the new one, as this is NOT a major Bug Fix release. But of course, if you prefer to see the tick you can download the new one :)

Thanks to all who feedback! :)

Your Friendly Coach,
Max

Cashflow Warrior Academy - "Everyone Never Work Again!"

The Day that I broke Rules on 2 pairs at one go... So does my Mentor & Ms P!

Hi All,

yesterday night was an exciting night :D I saw the effects of our excellent analysis of charts going into full swing :) Power of Weekly SSD!

Pretty amazing after 5 weeks of Bull Rally for GBP, Weekly SSD once again predicated ahead of time that a major trend change will come :) And Courtney sees that now it's the time to break the rule as Principle always (ALWAYS) wins the rule :) Hence, despite EUR/USD's ADX is trending down, he went in an order of TA! :)

This was then I realised that how powerful and important Weekly SSD is when comes to when to break the rule! :D And of course, I copied his trade though 10pips later :( as I took notice of his TA only at night. But better late than never ^^. Anyway, thanks to Ms P, I was highlighted a Weekly SSD for USD/CAD. Similar situation as EUR/USD, ADX is trending down, but I went in an order of TA since there is a higher high and a higher low.

To round up, I think this week will be a rather exciting week where we are seeing a revival of USD, I will be shorting AUD, EUR/USD, EUR/JPY, GBP and longing CAD :) Let's keep our fingers crossed!

Side Note: Ms P confessed that she broke some rule too... this is what she said,"Today mark the first day i broke rule without Courtney's approval!" haha so funny ;)

Your Friend,
Max

Cashflow Warrior Academy - "Everyone Never Work Again!"

Daily Trades Tracker is OUT!

Hi All,

Finally I found time to make it happen! :) Thanks be to god! Anyway, the Daily Trades Tracker will automatically remind you of what stops should the technique have and calculate the amount of risk you are taking with each trade :) Coupled with the Checklist, it should be a bleeze to trade now :)

Download here - https://www.yousendit.com/download/YkxLQ3R3Q3RVVGxjR0E9PQ (8mb)

I will probably come out a short 10 mins video to explain how to use it :)

Your Friend,
Max

Cashflow Warrior Academy - "Everyone Never Work Again!"

Checklist to make sure you only use 15 mins a day!

Hi All,

finally it is out~ the checklist that Courtney he himself approved :) In my humble opinion, will make our lives so much easier :)

Here is the link: http://docs.google.com/fileview?id=0B4DieVaB-kziMzkyYWE3NzQtYzg3My00MWY2LTg5MTQtZDAwZWU4YWZhZjgw&hl=en

Do feedback :)

Your Friend,
Max

Cashflow Warrior Academy - "Everyone Never Work Again!"

Paper Cuts Paper Cuts Paper Cuts *OUCH*

Hi All,

I have asked Courtney Smith why are we having so much paper cuts for the recent weeks. Guess what he said? "Recent market have been sideways for 7 pairs of Forex... hence, the market is giving us paper cuts now and then."

I guess that is why keeping to our 1% rule is so important :) Anyway, we have now 2 Newbie Traders' tool which is the ProRealTime Setup video and the Checklist. I will be uploading a 9mb Excel File for keying in orders for checking of risk automatically soon.

I am using the spare time from my trading to do it. Hence, it is quite limited *15mins a day*

Your Friend,
Max

How to put in CoFlex Trades

Hi All,

after looking Courtney's trade, he did something that rather amazing. Instead of keying into the trade immediately, he actually wants to give some pips away to determine it is confirmed a sell signal by put into an Order to Sell if it breaks the low of the bar and using the Last Bar concept for the stop.

That would be better risk management. Using instant gratification principle, if we don't earn money from the start, we don't do the deal. Hence, the stop is the Last Bar.

Kewl!

Your Friend,
Max

This is where we went for dinner before we leave KL...

This is Courtney Smith's Ideal Business Seminar SGD "Siao-On" Team :)

Setting Up ProRealTime with All Indicators

Hi All,

If you need help to setup your ProRealTime, please click on the link to download a video of me setting up ProRealTime.

https://www.yousendit.com/download/Y1RwanZqMGM1UjVFQlE9PQ

*Note: This is the 1ST time I am creating a video. It is not perfect. Do feedback :)

Your Friend,
Max

Cashflow Warrior Academy - "Everyone Never Work Again!"

New Happenings~

Hi All,

It's a rather exciting journey as I just created a video regarding setting up the ProRealTime and with a very very amazing lady's (who chose to be anonymous) help, We too managed to complete a Courtney Smith's Trading System Checklist to help us as newbies.

I should be able to set it up for everyone to download and use. Please bear with us before we send it out :)

Your Friend,
Max

Channel BreakOut Codes

55 Days High & Low Channel BreakOut Code

// Define a period
period = 55

H = highest [period]( high )
L=lowest [period]( low )

return H as "55-Day Channel Highest", L as "55-Day Channel Lowest"

20 Days High & Low Channel BreakOut Code

// Define a period
period = 20

H = highest [period]( high )
L=lowest [period]( low )

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

CoFlex Enhancement

Hi All,

Today we are going to talk about CoFlex Risk Management and application of Weekly SSD on CoFlex.

As Ash from KL brought up a very good point in the KL Course, that if CoFlex is a trend following technique, how does ADX Filter applies in this technique? The following is what Courtney said. He said. Basically CoFlex works when the 2 lines crosses. TEMA is on top we go LONG and if Moving Average is on top we go short.

However, using this technique will create lots of paper cut. Hence, he looks at ADX Filter to increase or decrease the number of contracts for Risk Management. If ADX Filter trends down, he will put in a smaller position. If ADX Filter trends up, he will put in a normal position. (ADX measures how strong is the trend)

And regarding about Weekly SSD, when it happens, Courtney is always looking for reasons to go inline with the Weekly SSD direction. CoFlex is always one of the main reason in there to make it happen. Oh he also added he might break the rule of Reversal Bar to go inline with the Weekly SSD direction even if there is no confirmed trend :)

Hope this helps.

Your Friend,
Max

A Great Lesson Learnt about Weekly SSD

Hi All,

This week I finally understand why I was at USD900 for my total equity beginning of last week and this week I am at USD587.52.

Because I didn't heed myself to weekly SSD and that was a killer. I saw the weekly SSD but I just continued adding more contracts e.g. EUR/USD and GBP/USD. In the end what happen? Both got killed :) I lost probably more than USD100 this time round, most of them got stopped out :(

Application of Weekly SSD is rather "chim" (deep) and I guess we just need to go through more often to make sure that we know what's happening.

Your Friend,
Max

What to do if I got trades in and then Weekly Stochastic Divergence appears?

Hi All,

Today I learnt a very important lesson about Weekly Stochastic Divergence (SSD). I asked Courtney that what if I have trades in and Weekly Stochastic Divergence appears? What should I do since I know that probably 1 to 5 weeks, most likely 2 to 3 weeks time, the market will change direction?

He replied it would be good to combine all the trades into 1 trades, meaning lock in the profits for the 2 smaller ones and leave the biggest profit on the table for the market to move, hence reducing the risk further :) E.g. I have now 3 contracts of EUR/JPY on LONG, but since there is a weekly divergence, I closed my 2 smaller profits contracts and leave the largest profit still open. And combining the 3 contracts based on difference techniques, I am only taking a 0.33% risk now per technique. And I didn't put in a CBO Order but using that existing to be my CBO Order if it ever breakout - then I will be taking only a 0.25% risk per technique. Bearing in mind to change the stop to the tighest one of all which is the last bar of the CBO Order.

Vici versa for losses trades, I just closed my EUR-USD trades. I have too 3 contracts on LONG, but since there is a weekly divergence, I closed my 2 bigger losing contracts and leave the smallest loss still open. And combing the 3 contracts based on difference techniques, the risk is 0.33%. Changing the stop loss to the tighest one which is my TA Swing Low.

The understanding of Weekly SSD is so important as it have to deal with Risk Management and Profit Increment. Meaning we take a smaller position (less than 1%) when there is a weekly SSD and going into opposite direction (predicted to go SHORT but system show signals to go LONG) and taking a bigger position (maybe 2%) when the weekly SSD is going into the same direction (predicted to go SHORT and system show signals to go SHORT).

Your Friend,
Max

SG Traders' Gathering - 16th August 2 to 5pm

Hi All,

It is confirmed that we will be having our 2nd informal Newbie Support Gathering this coming Sunday. Details are as follows:

Date: 16th August 2009
Time: 2 to 5pm
Venue: TBC

Please RSVP before this wednesday 12th August with Nigel at nigelnick@singnet.com.sg so that we know where to get. And if you want to offer your place, please contact me directly.

Look forward to see you all this coming Sunday.

Your Friend,
Max

Our Traders' Pledge

Hi All,

After we came back from KL Course, we have came out with the Traders Pledge (just change Singapore to your Country). This is the draft :)

We the Traders of Singapore, pledge ourselves as Profitable Traders, regardless of market conditions, emotions or techniques to win as much as possible based on Courtney Smith's System so as to achieve happiness, prosperity and financial freedom for all of us!

Any feedbacks? :D

Max

© Copyright owned by Cashflow Warrior Academy - "Everyone Never Work Again!"

Enjoyable First day of KL Class

Hi All,

it's a rather enjoying trip to KL with a bunch of fantastic people like Denise, Nigel, Andre, Shirlin Medelynn, Shan Shan and Clareesh! We had lots of fun together and really happy that we made it together to KL. These people is super on coming to making money through trading! We even had a small tutorial class before the class started!

Just finished the 1st day of Courtney's KL Class. Was reminded of several important psychology of a profitable trader :) thanks Courtney! Lots of people were amazed by Courtney's methodologies and wanted be to part of our Google group mailing list! Courtney also commended me in the class for helping him out to answer questions on the forum and make me so pie say (embarassing).

Well, the main reason why I decided to help out is because as a newbie, I really needed lots of help in which I got it from those seasoned traders and Courtney who are so willing to share about basic trading terminologies and the techniques itself. And since now I got the answers, I can give this set of information to others so that Courtney wouldn't be so tired answering the similiar sets of questions that I have asked him before :D

Once again, I really want to thank all the people who have helped me in this trading business such as Tanmoy, Eric and of course, Courtney he himself!

Max

Yesterday We Lost a Battle

Hi All,

I am writing this in KL as we are going to Courtney Smith's KL course. We are very happy that we were able to meet up with Eric Oh and June Yau. They are absolutely one of the best person you can ever find on earth!

However, yesterday we realised that we have lost a battle. One of my very good friend & trading partner got a margin call AND until now I still can't login into my account to see my account status. :( This week have been very topsy turvy for all of us. To tell you the truth, I am very worried for my friend. Maybe I am indirectly responsible for the incident as we trade more pairs than necessary. Let me talk to my friend and I will get back to you what should we do.

Though we may have lost a battle, BUT we will not lose the war! Press On

Your Friend,
Max Tay

My Mind Blanked.

Hi All,

When I saw all my hardwork went down the drain, my mind blanked. If you see my Total Equity Chart, the drop is like Financial Crisis! I started questioning myself, have I done this technique correctly? Did I analysis it properly? this and that and this and that..... until it just blanked.

I decided to close the application and sleep. *LOL* I woke up at about 4am and saw that it stablised at about 600 plus and answered a few questions on the forum and went back to sleep... Until my alarm woke me up at about 730am, my total equity is still at 600 plus, my mind started to work again...

I started to see something... new higher swing highs are created! Without the down, technically it also created a few new higher swing lows :) Higher highs and Higher lows. They are signs of Bull Market. Well, I guess that is difference between Backtesting and actual trades. In backtesting, I am training my technical skills. In actual trades, I am training my emotional skills.

And in this 17 days of trading, I realised that emotional skills and Risk management is more important than technical skills. And that is why Courtney doesn't want us to do Demo Accounts as it doesn't train us emotionally as a trader :)

Your Friend,
Max

CASHFLOW WARRIOR ACADEMY - "Everyone Never Work Again!"

My Total Equity Chart just went into a Megaphone Formation

Hi All,

What do we get if we got a Higher High and a Lower Low? A Megaphone formation. :) My Total Equity Chart just created a lower low after creating a higher high :(

This week have been so volatile that I am utterly confused of what has happened. I believe I am not the only person who suffered from this ups and downs. Nonetheless, I shall persist on. I am dropping GBP/JPY and contemplating to drop a few more pairs e.g. GBP/USD in the process.

Nonetheless, let us head to KL and discuss with Courtney regarding about it. I will keep blogging as there is free internet access in our hotel :)

Jia You!

Max Tay

Cashflow Warrior Academy - "Everyone Never Work Again!"

Yes I broke the Rule and got Punished... T.T

Hi All,

yesterday I tried to do something Courtney taught us to do - when to break the rule. Yes, you heard me - Break the Rule. And backfired, got punished - Stop out. *HAHA*

It was a Channel Breakout for EUR/USD *almost* hence, I used the high of the bar instead of the 55 day high. And what happen? Double Whammy and all my trades were stopped out T.T I guess I am still not ready to break the rule yet :D Well, I shall talk to Courtney about this and get back to the blog where I have gone wrong breaking the rule... for now, I will just follow the rule :P

Your Friend,
Max Tay

Double Whammy * 2 Yet again... *BORING*

Hi All,

Let me summed up yesterday market, copying what my trading partner, Nigel Nicholas said - "CHOPPY". Yet in such environment, following Courtney's trading system, after 16 days of official trading, I am getting 50% ROI for my trading (From USD500 to USD760.49)!

Rather amazing :) Well that's the only good news I can think of yesterday *HAHA* Because both of my Inside Day is losing money. In fact, EUR/USD is a double whammy and both Long and Short contracts (including MUT) got stop out *yet again*. Nonetheless, I guess we are pretty fine with that as we are still profitable newbie traders *HAHA*

Don't feel just good BUT I am pretty proud of myself when I limit the EUR/USD Inside Day loss to be 1% rather than the usual 2%. And that deserved a pat on the back :D

Your Friend,
Max Tay

1% Risk Management

Hi All,

ok. I have finalised myself regarding ID and the 1% risk management. As Courtney have said 1% risk per pair per technique meaning there is 4% risk on each pair if I used CoFlex, 20 Day, TA and CB together.

So for ID, it should be 1% on all the contracts that we will be doing. That includes MUT and ID contracts on both Long and Short. Just like all other techniques :)

Case Closed.

Your Friend,
Max Tay

2nd Double Whammy!

Hi All,

Today I experience Double Whammy yet AGAIN! Eh? This time round, both MUT and ID contracts didn't profit at all for both Long and Short. Didn't Courtney said it's kinda rare :D well, with 5 pairs probably so BUT then I am dealing wth 10 pairs now :D So I guess my chances of meeting Double Whammy doubled.

BUT I must say I am very proud of myself :) I kept to myself that per trade is 1% risk of my Total Equity. Hence I lost about 2% here. Which leads me to a question. Should it be 1% for the entire Inside Day meaning for both Long and Short or 1% for Long and 1% for Short?

Well, I will clarify with Courtney and get back to the blog :)

Your Friend,
Max Tay

Lesson Learn from Newbie Support Group Gathering

Hi All,

I learn something very valuable from the gathering and I commit myself to doing it. And that's Risk Management.

Courtney mentioned that he followed a very simple method - BUY on the next day open if it is a bull market and SELL it off if it drops $0.10. He never short the market so he didn't earn any money in a bear market. He was a profitable trader using this method! He explained that because of Risk Management and that is why he is a profitable trader.

It have jolt me to remember what Courtney said in Never Work Again and the Iron Clad Rule when comes to investment for Warren Buffett - "Rule No. 1: Never Lose your Money! Rule No. 2: Always refer to Rule No. 1!" With the incident of EUR/USD - both MUT and CoFlex contract was negative 200 pips each, I realised that I threw the 2 Rules out of the Window. As what Courtney have said, we are suppose to grind it out bit by bit until the BIG one comes :)

So I commit myself to use 1% of my total equity for all position, unless the 1 position takes more than 1%. Meaning 1% risk per instrument per technique. :)

Your Friend,
Max Tay

1st ever Newbie Support Group Gathering

Hi All,

Today marks the 1st ever Newbie Support Group Gathering! The venue was at TCC Circular Road. And *ALAS* we didn't take pictures!!! BUT Courtney, yes he came, took a video of us :) Maybe I can go grab it ;) Anyway, A very BIG thank you to all who came and the staffs of TCC Circular road for making this a BIG success.

All of us were quite surprised that Courtney came :) And he really gave in all his best to educate us on trading! With that, all of us gets to understand about risk management, trend analysis, coflex and many more even at a deeper level.

Thanks Courtney for supporting us all the way! :)

Your Friend,
Max Tay