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Hello everyone,
Most of you are two weeks into the launch of the Inner Circle membership, and I think now is a good time for me to give some comments about what I’ve been noticing so far. This is for the benefit of anyone who is serious about making a full time living with Forex.
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9 Comments
June 29th, 2009 at 9:31 pm
Hi Chris,
The main reason why I subscribe to Pip Mavens is because I can trust what you are teaching and, in general, doing, to your “students of the Market”. I have seen from the first lesson (The candlesticks madeeasy…) that …there is something different in teaching how to be a patient and good forex trader (maybe to be a share trader or a CFD trader is not so difficult as it is to be a forex trader. Don’t get me wrong: every thing request patience, even when you are seating to dinner, but… the forex trading is the most difficult and the most great job for serious traders).
I agree with what you are writing in your comment about the first two weeks membership. Personally I am not a professional trader. What I am doing is to try to educate my patience over my learning how to best trade.
Last two weeks I didn’t enter the trade short you are talking about, and I think I told you that time. Some one from our community can be thinking that I have avoid this lost. Yes, I didn’t lost this time, but I have lost many times before this time, and, in the same time I have earn many trades as well. But I am going to be a trader with a 60:40 win ratio; now I have a 51:49 or 52:48 win ratio result….
That’s why I am here, close to you, to teach and to get better experience and practice, to achieve my goal.
That’s why I appreciate what you have writing in this report. This is a good help to me. And I want to believe that many of our group could agree in same points with what I am talking here.
Thank you Chris.
June 29th, 2009 at 10:17 pm
Very valuable comment.In the past I would have been in and out several times over the last 2 weeks but am now learning restraint.Thank you for your efforts.
June 30th, 2009 at 1:23 am
Hi Chris,
Glad to read your critical analysis here. l hope you would allow me to write how l feel and my sincere comment.
l joined this site not long ago, with the hope that l am able to learn more and trade effectively in Forex. l am still very new to Forex and till now l am yet to make any money from Forex, not to mention some loss.
Chris, l know trading on H4 chart is more relax and less stressful compare to lower time frames. However, l would appreciate very much if you are able to share with us some of your winning or lossing trades (not necessarily just EUR/USD) for us to study and analyse. l might be wrong, but l feel that everyday l login this site, apart from your daily analysis, l get nothing much. l tried to join the quick chat but l feel no much interaction there as most of the time, they are chatting with their own group. It is hard for new person in Forex to join in. Chris, l am not saying negative things about your site. Actually, l like a community like this if we are able to share and learn from one another.
l tried also to go to the modules page… Is it possible to access other modules faster? l read every page of module 1…but l cant move on.. :( l believe you allow and cater for different learning styles here.
Chris, please correct my perception or my approach to Forex trading. l am very serious going into Forex trading. Infact, this is my retirement plan. l want to be successful in near future. l need money to finance my children education.
Chris, sorry if l have written anything wrong about your site.
Thank you…
Toh
June 30th, 2009 at 3:48 am
Hi Chris,
I strongly agree with you that the key word in forex trading is CONSISTENCY.
There are people who claimed to make $28,000 in a day, I believe this is true. But, the questions I want to ask are:
1 Is he consistently making $28,000 a day?
2 what is his bottom line at the end of the month?
3 Is he still around trading forex?
Allow me to relate one of my disastrous trading experiences:
Late 2008, after studying Chris’s Candlestick Analysis and Momentum, I traded EUR/USD using Chris’s Momentum Analysis, I got a shock of my life: I made more than $50,000 profits in less than one month, that is, in December 2008(forgive me , I think I am a gambler).
Alas, I became more aggressive and forgot Chris’s reminder on risk and money management. On the following month, I lost $70,000.
I have learnt a bitter lesson.
Now I fully understand that trading forex is not a get rich quick scheme, it is a get rich slow scheme. Also, I must be making profits, a little at a time, CONSISTENTLY.
Thank you, Chris.
June 30th, 2009 at 5:34 am
I agree with You Chris and certainly I’ve learned to be patience and wait
for the right moment to enter a trade according to what I’ve learned from You.Thank You Chris.God bless You.
June 30th, 2009 at 6:46 am
very good comments ist all awaiting game
June 30th, 2009 at 6:55 am
Hey Chris,
If you make losing trades once in a while, it lets me know that I probably will too and that’s OK. Just make sure we pick ourselves back up and keep having fun. Of course, it is more fun when you are winning, but such is life.
Life’s lessons are learned from the disappointments.
It seems to me that it is important not to trade on the direction we think that it is going, but on the direction that it is going in…how to determine that seems to be the trick. :-) It sounds simple enough, but evidently by all the different comments out there it isn’t as clear as it seems.
Here’s to more winning trades than losing ones.
Thanks,
Dollie
June 30th, 2009 at 11:08 am
I have been a member since 16 June and was wondering how to phrase a comment here without appearing negative and then I read Toh Poi Seng’s (no 3 comment) and I have to say he has put together a comment that matches more or less what I would like to say.
Now I undertand that market behaviour has mean’t that conditions not ideal for trading EUR/USD on 4 hr chart and it is leaving me wondering if I have the right personality and patience to sit around and wait for weeks for the right set up to trade the 4 hour charts. So I would say if one cannot develop the patience required to trade the 4 hour charts then you maybe fighting against your personality despite everyone here saying you have to have patience maybe your discovering and aspect about yourself?
It was however interesting to note a quick chat entry by Chris that implies he successfuly trades lower time frames down to 5 minutes scalping which I know is beyond the scope of what we signed up for.
For me it does give confidence that one can be profitable trading the smaller frames and maybe I just need to discipline myself to following Chris’s Candlesticks made easy ebook with high emphasis and discipline on good money management.
June 30th, 2009 at 3:19 pm
I can’t agree with Toh & Jagdish more…i was in fact very impressed with the way Chris worked on Forex Candlestick Made Easy, and that was the main reason why i have joined PipMavens. But as mentioned above, i am looking forward to see more than what we are now seeing. At times, trades/potential trades discussed in the forum are pretty straight forward to me..but it is just not sufficient for me to set up and enter a trade confidently. Thus, i hope Chris may look into Toh’s request to allow us to access to other modules faster…so that we can brush up our skills and perhaps may contribute constructively to forum here.