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Monthly Forecasts for CFDs (July 2016)

AUS200
Dominant bias: Bullish
AUS200 declined last month, reaching a high of 5393.0 and a low of 5040.0. That southwards movement threatened the bullish outlook on the market, but the recovery that was witnessed in the last several days of June has upheld bulls’ domination. Price is expected to trend further northward this month, reaching the distribution territories at 5440.0, 5540.0 and 5640.0.

SPX500
Dominant bias: Bullish
This market moved sideways in the first half of June 2014; then it broke down on June 23 and 24, halting the bullish attempt that was witnessed before then. The bias would have turned bearish, should bears continued pushing the market southwards, but price started to recover the following week, which restored confidence to bulls. The outlook on the market is bullish, as bulls would continue to push price upwards, with only intermittent pullbacks along the way.

US30
Dominant bias: Bullish
The movement of this trading instrument was essentially bearish last month, but bulls were able to recover some of their losses, as price skyrocketed by 9000 points from the monthly low of 17059.0. Recovery is in progress, for this instrument may still move north by additional 4000 points (at least), this month. So the best approach might be to buy fleeting pullbacks in the market, especially when they are followed by a bullish candle in the 4-hour chart.

GER30
Dominant bias: Bullish
GER30 experienced a large pullback on June 23 and 24, after which bulls came in to arrest further bearish movement. Price plunged into very formidable demand zones and was forced to spring upwards – an action that was followed by a smooth bullish recovery. Price went upwards by almost 5000 points last week, but it is yet to reach the high of June 23, 2016, which was 10470.8. The high of that day is the minimum target for bulls this month, because GER30 would continue to experience gradual recovery until the target at 10470.8 is reached or exceeded.

FRA40
Dominant bias: Bullish
The market price reached a low of 3919.9 on June 24, and then began a journey of recovery, which remains in progress. Price closed at 4257.4 last week, on a bullish note. The targets for this month are located at the resistance lines of 4370.0, 4450.0 and 4500.0. This does not rule out possibilities of bears’ machinations, but bulls should be vividly victorious by the end of July.

Source: www.tallinex.com

Weekly Trading Forecasts on Major Pairs (July 4 - 8, 2016)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
This pair moved upwards 150 pips last week, testing the resistance line at 1.1150, in the context of a downtrend. The outlook on EURUSD remains bearish for this week. For the outlook to turn bullish, price needs to go upwards by at least, 300 pips from here. Otherwise, the support lines at 1.1100, 1.1050 and 1.1000 would be tested this week. Those support lines were recently breached, and they would be breached again as the bearish movement continues.

USDCHF
Dominant bias: Bullish
USDCHF was essentially a flat market before June 23, 2016. It was pushed upwards only by fact of the strong decline in EURUSD. Price made a faint bullish attempt last week, but it met an opposition from bears, who checked further bullish movement, and forced the price to bend downwards (in the 4-hour chart). The bullish signal on USDCHF is in a precarious situation; which means that further bearish correction could cancel the bullish signal, thus forcing price back into the neutral territory, in which it was before June 23. This week, bulls need to keep on pushing price north in order to avoid bears’ victory. There is one big roadblock ahead: CHF would soon gain a serious stamina this month and it could bring about some selling pressure on USDCHF, while having visible bearish effects on other CHF pairs (save CHFJPY).

GBPUSD
Dominant bias: Bearish
Cable went virtually flat last week, in the context of a downtrend. There are Bearish Confirmation Patterns on 4-hour, weekly, and monthly charts, which all signal serious weakness on Cable. Apart from this, there is a bearish expectation on Cable (and other GBP pairs); just as it was in the last two weeks. While bulls may attempt to push up price by a few hundred pips at most, bears would end up as winners. In this month, GBP pairs would experience strong movements.

USDJPY
Dominant bias: Bearish
USDJPY also went flat last week, in the context of a downtrend. It would be difficult for bulls to push the pair upwards significantly because there are adamant supply levels above them, and because the outlook on JPY pairs is bearish for this week and for this month. JPY pairs are expected to assume major bearish movements this week (which could last till early October 2016). USDJPY would trend downwards by a minimum of 200 pips before the end of this week or by early next week.

EURJPY
Dominant bias: Bearish
While the major bias is bearish, this cross went upward 250 pips last week. There are supply zones at 115.50 and 116.50, and while price could possibly test them this week, bears would still continue to dominate the market, putting more emphasis on the major bias, which is also visible on higher timeframes. Just like other JPY pairs, this cross could go further and further downwards in the next few months, though that does not rule out the possibility of noteworthy bullish efforts.

This forecast is concluded with the quote below:

“About fifteen years ago, I moved to the U.S. and worked with several CTAs. This was the point in my career that I made the decision to eliminate all human emotion from my trading. I became a purely systematic trader. For me, emotion and subjectivity are the enemies. Good traders follow systems. Systems have rules.” - Francisco London (Source: Collective2.com)

Source: www.tallinex.com

Monthly Technical Reviews on Gold, Silver and Bitcoin (July 2016)

GOLD (XAUUSD)
Dominant Bias: Bullish
Gold moved upwards by over 12400 pips last month, and price reached a high of 1358.21 that month. There is a Bullish Confirmation Pattern in 4-hour, daily and weekly charts, so it is not advisable to open short trades in the market. Any bearish attempts the market makes ought to be short-lived, proffering opportunities to go long at better prices. Further bullish movement is possible this month, which would enable price to first breach the high of June (1358.21), and then go towards the resistance levels at 1360.00, 1380.00 and possibly, 1400.00.

SILVER (XAGUSD)
Dominant Bias: Bullish
Recently, the bullish movement on Silver has been stronger than the bullish movement on Gold. Since the beginning of June 20016, till now, price has gone upwards by over 3200 pips, reaching a high of 19.3600 on July 1. There is a strong bullish outlook on the market – something that is supposed to continue this week. It is also possible that sales would be temporary in the context of this uptrend, as bulls target the demand levels at 19.5000, 20.0000 and 21.0000.

BITCOIN (BTCUSD)
Dominant Bias: Bullish
Bticoin went beyond our target for last month. Price broke above the accumulation territory at 600.00, reaching a high of 775.92. The buying pressure on the market still exists, and further northward attempts would be seen this month, which may enable the market to recover the massive sell-offs it experienced within June 19 to 23. Although the presence of bears poses threats, the targets for month are located at the distribution territories at 775.00, 780.00 and 800.00.

Source: www.tallinex.com

Difficult Markets Produce Fine Results – Part 2

“If you can trade like a hedge fund without investing in one, you can replicate their big wins without having to pay their huge fees.” – James Altucher

In the first part of the article in this series, I mentioned that Mr. Caleb (a former trainee), who’s found his edge in his market, was interviewed. He’s interesting facts to reveal about trading, plus how he makes his money from the markets. Here we go:

Analyst75: What motivated you to get trained for trading in the first place?

Caleb: I was interested in trading because of its benefits. When I was introduced to a seminar, I attended it with a friend. I’ve to say that the seminar was a disaster to me, because all they could say was “you can make so-so amount of money,” “you can become financially free,” and all those marketing stuff. They didn’t show how that could be done, except to sell something they believed would work. Such was most of the seminars – useless. So I decided to explore other options. When I came across my former coach, I was encouraged again, but for a one-on-one training at that time.

Analyst75: What did you learn during the training?

Caleb: The training was an eye opener, because I was taught how the markets really work, plus trading principles that are useful. It was different than the get-rich-quickly stuff that sells you something and goes away. After the training, I practiced more and more and more. With some viable modification, here I am.

Analyst75: How do you determine when to buy and when to sell?

Caleb: I’m a systematic trader, with a large amount of discretion, however. I don’t trade flat markets, which means my candidates are usually trending markets. I follow the trend, using MACD and EMA to determine a major bias on a particular market, especially in the medium-term. I prefer hourly charts because they aren’t too big or too small in terms of time horizon. Then I use economic news/fundamental figures to pinpoint entry points. I trade mostly news that pushes the market in the direction of the dominant bias, for this comes with higher accuracy. Needless to say, some news releases don’t move the markets: I simply ignore those. On rare occasions, I trade news that pushes the market massively against the trend. This is where discretion comes in. In some cases, price action will reveal that an existing trend has reached maturity, and is getting tired.

Analyst75: What do you stops and targets look like?

Caleb: My stops range from 30 to 100 pips. I don’t set take profits unless I’ll be away from the markets for several days. In that case, my stop would be a minimum of 200 pips. Sometimes, I sustain small losses for weeks, but I’m happy as long as the losses are kept small. Huge moves in my favor often wipe those small losses away, giving me decent profits over time.

Analyst75: How long do you hold onto an open trade?

Caleb: I hold onto a trade as long as the market goes in my favor. A trend may last longer than most people think and bigger profits are present in sustained trending movements. When a trade fails to develop in the way I previously think, I’m quickly out! Sometimes, I don’t even wait for my stop to be hit before I quit a trade. This doesn’t mean I exit a trade on noises only, as mere noises would cause transient movements against my direction, this is where a little discretion helps.

Analyst75: How do you feel when a trade goes against you?

Caleb: It’s merely one of those normal things – as long as you keep the losses small. I see losses as part of business. Most business would have periods of losses, slow growth, etc. Why should trading be different? A losing streak is a good indicator that a winning streak is around the corner; and that helps me keep my chin up. I know that when I lose, some winning trades would soon materialize.

Analyst75: How do you feel when you win a trade?

Caleb: Normally I feel great. I feel satisfied whenever I’m in a winning streak. That’s part of the beauty of trading.

Analyst75: What are your favorite pairs?

Caleb: EURUSD, AUDUSD and USDJPY. To me, they’re easily predictable.

Analyst75: Do you see yourself teaching others to become successful at trading?

Caleb: Nope. I’m not good at teaching/coaching, and I don’t think I’ll ever become a coach. If there’s anybody who wants to learn trading, they’ll have to find a good coach to show them the way.

Analyst75: Do you believe in trading robots?

Caleb: Robots are good, but a little discretion helps good traders. Robots follow strict rules, which may bring disaster when the market conditions are at variance with the rules. Most trading systems are rubbish, and when programmed, they produce useless robots which might accelerate your bankruptcy. Artificial intelligence is garbage in, garbage out.

Analyst75: Do you think you might change your trading method in future, applying some flexibility?

Caleb: No-one can become a master trader overnight. Anyone can learn how to buy and sell, but trading mastery takes time. In a few days, you can learn driving, but that doesn’t make you an experienced driver. A person who’s just learned how to drive might not be able to handle some challenges that a driver has to face, like driving in all weather conditions. Trading is no different. If I discover that a particular rule might improve my trading results, I’d first try it in a simulated mode for 4 – 6 months. If the results are satisfactory, I make the rule part of my trading strategy.

Analyst75: Most members of the public fear trading. They even discourage others from trading. What do you think about this issue?

Caleb: People fear the unknown. Yes, they’re scared of what they don’t know, including what they think they know, but which they don’t really know. A novice may discourage other novices because they think they know somebody who lost their money in the markets, and so the losses in other areas of life would be an exception or a normal thing to them. Only a loss in trading is what they think is abnormal. I think the right mindset is to determine to succeed where most others fail, like trading.

Analyst75: How do you combine your day job with trading?

Caleb: I trade mostly in the evenings when I get back home from work: before I sleep. I spend less than 5 hours per week on trading. So, it’s pretty easy for me to trade while keeping my day job.

Analyst75: As far as trading is concerned, what’s your plan for the future?

Caleb: I want to be the best trader I can be. I want to be the best trader in my country. I like the joy of financial freedom trading brings and I’d like to live a quiet life in a natural environment, away from the city, where there’s too much noise. I’ll soon abandon my day job to become a full-time trader, living the kind of life I really want.

Analyst75: Would you like one of your children to be a trader in future?

Caleb: I believe each child is unique, created by the Providence to fulfill a specific destiny. This might not be trading in most cases. I’d be happy if a child of mine becomes a trader, but if they choose another course of life, I’d be happy too as long as they don’t have “I beg to apply” mentality. Becoming a trader isn’t by force; it’s by choice, although it’s a good vehicle for financial freedom. One thing I’ll surely do is that, I’ll inculcate the spirit of self-reliance and self-dependence into them as early as possible. Our parents don’t show us the way to be self-sufficient. They make a big mistake just by telling us to go to school and look for jobs, which to me, isn’t the best way of life. It’s a horrendous thing to be at the mercy of a boss. There’s a vast difference between living and existing. You’ll need to choose for yourself.

Analyst 75: Do you have any advice for traders?

Caleb: When it comes to Forex trading, patience is a virtue. Patience pays a lot. Traders should be optimistic and look forward to better trading results, even in the face of a current challenge. When you’re using a good system and facing a temporary period of loss, always look forward to a period of profit, which is around the corner.

Analyst 75: Thank you Mr. Caleb, for this great interview.

Conclusion:
This interview is concluded with a poem-like advice from an astute female trader:

I See You

I see you.

I see your focus, and I can picture what this will mean for your trading future.

I see your trading scars, and I know that some of them came close to breaking your heart.

I see your hope for the future, and I’m in awe of your potential.

I see your struggle, and I know that, like a bird pecking out of an egg, the struggle will make you strong.

I see your choices, and I recognise how you are honouring your vision.

I see your joy as you courageously take one more step and learn a bit more about the markets.

I see your deep desire to do more, be more and have more.

I see a trader.

I see you.

Let's make 2016 a terrific year of triumph.” - Louise Bedford (Source: Tradinggame.com.au)


Source: www.tallinex.com

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Weekly Trading Forecasts on Major Pairs (June 27 – July 1, 2016)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
This pair tested the resistance line at 1.1400, and went above it briefly. Price could not stay above that resistance line: It tumbled by 500 pips before a 200-pip bullish correction occurred on Friday. The bias is bearish, and further bearish movement is possible, but it may not be more than 300 pips downwards. Price might also journey upwards this week, owing to the fact that the extreme bearish movement that occurred on Friday could bring opportunities to buy.

USDCHF
Dominant bias: Bullish
USDCHF was essentially a flat market in the context of a downtrend, before the strong bearish movement on EURUSD forced it to break out upwards. Price moved upwards 250 pips, reaching the resistance level at 0.9800, and the got corrected by 100 pips. For the bias to remain bullish, EURUSD needs to continue moving south; because the events affecting EURUSD are what would determine the movement of USDCHF (which is being currently affected by inertia on its own).

GBPUSD
Dominant bias: Bearish
On Friday, June 24, 2016, Cable experienced its strongest bearish movement in recent years. Price dropped by 1700 pips, reaching the low of 1.3230. Price later performed a 500-pip bullish correction, later closing at 1.3682 that Friday. Normally, the outlook on GBP pairs is bearish, and continuous selling pressure on Cable is a possibility. However, the extreme market situation would also bring some opportunities to go long, for those who are very good at catching falling knives. The markets could open with gaps next week. While things are currently bearish on GBP pairs, recovery would gradually or smoothly return to the markets.

USDJPY
Dominant bias: Bearish
The Brexit votes outcome also had bearish effects on JPY pairs, and that was exactly what brought about a bearish momentum on USDJPY, which was consolidating in the context of a downtrend prior to that time. What happened to this market on Friday simply brought more emphasis on the long-term bearish trend, which is also visible on the daily and weekly charts. Although the outlook on JPY pairs is bearish, the 700-pip decline that was witnessed on Friday would bring about a rally within the next several trading days, as bulls seem to have reached the end of their tether.

EURJPY
Dominant bias: Bearish
This currency trading instrument dropped 1200 pips on Friday, thus forfeiting the 350-pip bullish gains it saw within Monday and Thursday. The bias on 4-hour chat, daily chart and weekly chart is bearish, but price has already encountered very formidable demand zones on Friday. While selling pressure is present in the market, we may witness some bullish attempt in the next few weeks.

This forecast is concluded with the quote below:

"Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it." - Warren Buffet

Source: www.tallinex.com

Trading Signals for GBP and JPY Pairs (June 24 – July 8, 2016)

GBP Pairs

GBPAUD = Buy

GBPUSD = Buy

EURGBP = Sell

GBPJPY = Buy

GBPCHF = Buy

GBPCAD = Buy

GBPNZD = Buy




JPY Pairs

USDJPY = Buy

AUDJPY = Buy

CADJPY = Buy

CHFJPY = Buy

EURJPY = Buy

GBPJPY = Buy

NZDJPY = Buy


NB: Every trade could be entered with a stop loss of 200 pips and a take profit of 400 pips. Only 0.5% is risked per trade. With an account balance of $20,000, a position size of 0.1 lots would be used. The breakeven stop is set after about 70-pip profit is made. A trailing stop of 100 pips is set after over 170 pips have been gained. You need to use your technical analysis to know when to enter, since you may want to trade a pair only after your entry criteria have been met.

Disclaimer: Trading signals are provided for information purposes only and shouldn’t be construed as trading advice.

Source: www.tallinex.com

Brevan Howard: Trading with the Highest Standards

WHAT YOU NEED TO KNOW ABOUT MASTER TRADERS – PART 11

“If there are people in your life who do not support your efforts to become a successful trader, avoid them. Avoid those who express negative energy on a regular basis, and vent their hostilities towards you. Wherever possible, terminate unhealthy emotional relation¬ships that cannot be repaired, and if necessary, do it immediately.” - Joe Ross

Name: Brevan Howard
Industry: Investment management
Products: Hedge funds
Website: Brevanhoward.com

ONE OF THE LARGEST MACRO HEDGE FUNDS
Brevan hedge fund was co-founded in 2002 by 5 experienced traders, although some of the founders have left the firm.

The company was headquartered in Geneva in 2010. It opened an affiliate firm in New York in July 2012, called Brevan Howard U.S. Investment Management LP. In June 2013, the company was reported to be the largest European hedge fund management firm based on its total assets under management of around $40 billion.

The company manages 11 funds and it maintains so high standards for trading success, that some traders who were dismissed from Brevan Howard have become “stars” at other trading companies.

Brevan Howard has donated generously to Imperial College Business School, Alan Howard Scholarships for Energy Futures, and the ARK Bentworth Primary Academy.

What You Need to Know:
1. According to Wikipedia, the company received $2 billion to manage in the global macro fund from Credit Suisse Private Bank. Under the leadership of Brevan Howard's founding partner, assets grew to $10.5 billion in 2006. The company generated a 25% return in 2007 and returns from their global macro fund continued to perform well during the financial crisis of 2008.

2. Alan Howard hedge fund has had many glorious years of nice profits, but not without losing years. In some years, the returns in terms of percentage were small and in some years, the losses were small. In some years, the losses were big. However, the firm has been hugely successful overall. Such is trading.

3. What are Brevan Howard investment strategies? According to founding partner, Nagi Kawkabani, the firm's overall strategy is focusing on near-term opportunities and establishing investment positions that are maintained for one to six months. As a macro hedge fund the company wants to make gains from broad economic trends and speculates on various assets including commodities and currencies.

This piece is ended with the quote below:

“I suggest, though, that no matter what percentage you choose, consider keeping it the same on all of your trades, because if you don’t you in are, in effect, starting to handicap your trades. When I cover this point in my webinars some of the attendees say to me, “I risked a higher percentage of my account on Trade A then Trade B because A looked better,” to which I respond ,” Why would you enter a trade that looked less than perfect and didn’t meet all of your trade selection criteria?” The reality of trading, of course, is that we never know which of our individual trades will work out. We only know that over a series of trades we should win “X%” of the time based on our particular trade selection methodology.” - Lee Bohl (Source: Trade2win.com)


Source: www.tallinex.com

Weekly Trading Forecasts on Major Pairs (June 20 - 24, 2016)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Neutral
All bearish pulls EURUSD experienced last week were rendered useless by bullish effort. Price did not go above the resistance line at 1.1300 last week; nor did it stay below the support line at 1.1150. The impasse between bulls and bears has enforced the neutrality of the market, and unless price goes above the resistance line at 1.1400 (causing a bullish bias), or goes below the support line at 1.1100 (causing a bearish bias), the neutrality of price would continue. This week, there is going to be strong moment on EURUSD, which would most likely favor bears. This pair is quite choppy right now.

USDCHF
Dominant bias: Bearish
This pair moved sideways last week – performing only upswings and downswings in the context of a downtrend. The support level at 0.9550 ought to be breached to the downside for the bearish journey to continue. However, further decline on EURUSD would trigger a rally on the pair, which would result in a Bullish Confirmation Pattern when price goes above the resistance level at 0.9800. A strong buying pressure is required for this to happen.

GBPUSD
Dominant bias: Bearish
This week, there would not be any unprecedented movements on GBP pairs (just like Grexit caused no special movements in the markets), save strong movements that are not more than anything that has been witnessed so far this year. Surprise movements do not usually happen when they are anticipated. What usually cause extremely serious movements in the markets are events that happen unexpectedly. Likely effects of Brexit have been anticipated, as well as likely effects of Bremain. Therefore, they would not cause any movements stronger than what we have seen on GBP pairs this year. Throughout Thursday, June 23, GBPUSD (and most other GBP pairs) will go in one direction with little or no reversal, but there would be nothing graver than normal. The outlook on the pair is bearish and further southward movement could possibly be witnessed this week.

USDJPY
Dominant bias: Bearish
Just as it was forecasted, USDJPY declined further by 300 pips last week, going below the demand level at 104.00, before things went sideways again. Price has dropped 550 pips since the beginning of this month, and the downtrend is likely to continue, as price targets the demand levels at 103.50 and 103.00.

EURJPY
Dominant bias: Bearish
This is a bear market, just like most other JPY pairs. There is a Bearish Confirmation Pattern in the market, giving a possibility of price reaching the demand zones at 117.00, 116.00, and 115.00 this week or next. The demand levels at 117.00 and 116.00 were tested last week, and they could be retested this week. One thing should be noted, bearish pressure on EUR would make it difficult for EURJPY to make any significant rally this week.

This forecast is concluded with the quote below:

“You don't have to trade perfectly. You just have to trade profitably. Put a single trade in perspective. It's just one trade of the many trades you will make in your lifetime. You may lose or you may win, but the outcome of a single trade does not matter. What matters are your overall profits across a series of trades, not just a single trade.”[b][/b] – Joe Ross

Source: www.tallinex.com

What Brexit/Bremain Will Do to the Markets

“What matters is your ability to pick up the flying gobs of money whizzing past your ears in the financial markets money storm.” – Louise Bedford

Originally, I planned to post an article titled: “Difficult Markets Produce Fine Results – Part 2.” But I can see that the media are making noises about the coming Brexit or Bremain, just like they did when the issue of Grexit was hot.

A referendum is being held on Thursday, June 23, 2016, to decide whether Britain should leave or remain in the European Union.

Since the outcome of the referendum will impact the markets, it is worthwhile to know the nature of the impact and how exactly the markets would behave during and following the referendum.

Traders want to know what the market would do, whether it would go up or down or simply fluctuate wildly without a directional movement.

What would the markets do? I’ll tell you what the markets are supposed to do, and that’d be my opinion. Everybody is entitled to her/his opinion.

If you could recall my Annual Trading Forecasts for the year 2015, it was mentioned that USDCHF would experience a large pullback in January. That was exactly what happened.

What Would Happen to the Markets on June 23 and After
The Brexit/Bremain issues would affect mainly GBP pairs (Just like the SNB action of January 15, 2015, affected mainly CHF pairs). When I mention major GBP pairs, I mean GBPUSD, GBPJPY, GBPCAD, EURGBP, GBPAUD, GBPNZD and GBPCHF. These pairs are already trending strongly; but that is their normal behavior. Please check historical data.

Whether Britain chooses to remain in the European Union or leave, there would be strong movements in the markets. The movements would be stronger in case Britain chose to leave the EU. The currency market is like a rubber band: If it moves too far in one direction, it’d soon snap back. Accumulation and distribution territories are present to check strong trends.

Nevertheless… No matter what the outcome of the referendum is, there will be no unprecedented volatility in the markets.

In my recent markets forecasts, it has been mentioned that GBP pairs would experience strong volatility this month (plus NZD pairs). This is because GBP pairs usually move strongly in June while most other pairs experience low volatility. Bremain/Brexit issues are only a catalyst that will spur the usual strong movements on GBP pairs this June.

The market has a knack for going against people’s expectation. Events that people don’t anticipate are what cause surprise moves, not events that people anticipate. People didn’t anticipate the unprecedented CHF pairs volatility that occurred on January 15, 2015 and there were surprise consequences. Another instance of an unexpected event that caused surprise movements was the last major earthquake in Japan, in March 2011, which also caused nuclear fallout.

Grexit was hyped as something that might have a serious impact on the markets. What then happened? There was nothing significant or extraordinary, as far as the markets were concerned. Even there were far stronger movements in the first few months and the last few months of 2015, than when the Grexit issue was hot.

There wouldn’t be any unpredicted movements or volatility on GBP pairs (just like Grexit caused no special movements in the markets), save strong movements that are not more than anything that has been witnessed so far this year.

Whether Britain exits the union or remains in it, the markets will simply do what they’re known for. The markets will move, presenting good money-making opportunities for astute traders. The stronger the movement, the more money we make. After all, no money can be made in a market that doesn’t move well (unless you’re a scalper).

It’s good to open trades based on what the markets are doing, not based on what you think the markets would do. Yes, trending movements would develop further – a thing that good traders are prepared for.

Final Thoughts
Please, use risk control methods in your trading, so that adverse movements don’t have an adverse effect on your capital; while a favorable movement would have a satisfactory effect on your capital.

As ever, it’s good to risk very small per trade. When a position moves against you, you should be protected by a stop, having no worries, provided your stake is also small. When a position moves in your favor, you should make a decent profit.

However, certain traders might want to stay away from GBP pairs till the end of the month, if that’s what you prefer.

Once again, GBP pairs would trend strongly this month, but don’t expected any movements that would be stronger than what we’ve already witnessed this year, not matter the outcome of the referendum.

Do not expect any surprises when the public are anticipating them. Surprises come when the public don’t anticipate them.

This article is ended by the quote below:

“I‘ve seen a lot of aspiring traders over the years, trained some of the current leading coaches/mentors, worked with some amazing authors/hedge funds and seen a lot of people make this work. The ones that don’t make it work are often the ones that think too much and try to reinvent the wheel - or be / think they are - smarter than the markets. Stop trying to hit a hole in one and start treating this like a business and look to make an average profit on a consistent basis. This will work for you, whatever and however you decide to do it.” – Phil Newton (Source: Trade2win.com)

Source: www.tallinex.com

Weekly Trading Forecasts on Major Pairs (June 13 - 17, 2016)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Neutral
For the most part of May 2016, EURUSD was in a downtrend. On June 3, a strong bullish breakout led to a bullish signal, but price was unable to continue moving up continuously in the following week, which was last week. Price simply went up 50 pips, hit the resistance line at 1.1400 and then nosedived. This has forced the market into a neutral territory, since the bullish gains of June 3 had been rendered useless by the strong bearish correction that took place within June 9 and 10 (whereas bears cannot claim any dominance until price goes below the resistance line at 1.1150). It is likely that EURUSD would continue to go downwards this week, though the bias may not turn bearish until the resistance line at 1.1150 is broken to the downside. For the bias to turn bullish again, price needs to go above the resistance line at 1.1350.

USDCHF
Dominant bias: Bearish
This pair decline 180 pips last week, going briefly below the support level at 0.9600 before closing above that support level. Since June 3, 2016, price has declined by 300 pips, reaching a weekly low of 0.9577. The support levels at 0.9600, 0.9550 and 0.9500 are the next targets for bears this week. Any movement above the resistance level at 0.9800 would put the bearish outlook in a precarious position.

GBPUSD
Dominant bias: Bearish
Contrary to expectation, Cable moved south by 460 pips last week, after testing the distribution territory at 1.4650. Prior to this, price moved upwards by 260 pips between Monday and Tuesday. It has been mentioned that GBP pairs would experience strong volatility this month (plus NZD pairs). This is because GBP pairs usually move strongly in June while most other pairs experience low volatility. Bremain/Brexit issues are only a catalyst that will spur the usual strong movements on GBP pairs this June. This week, GBP might behave like it did last week: We would witness strong bullish and bearish movements.

USDJPY
Dominant bias: Bearish
USD/JPY merely went flat throughout last week. Even the faint bullish attempt that was seen on Monday and Tuesday meant nothing when compared to the ongoing bearish outlook. There is a possibility that JPY pairs would trend downwards this week, and so, USDJPY might go further south to test the demand levels at 106.00 and 105.50.

EURJPY
Dominant bias: Bearish
Between June 6 and 7, this cross went upwards close to 170 pips, but further rally was rejected at the supply zone at 122.50. From that zone, price went down 250 pips, to close at 120.37 on Friday. There is a Bearish Confirmation Pattern in the market, and further decline could be witnessed this week. Therefore, the demand zones at 120.00 and 110.00 would be interesting to watch.

This forecast is concluded with the quote below:

“Even after all these years, I still feel passionate about trading. I love trying to find profit opportunities. It's a great achievement when you can beat the pros.” - Jay McGivney

Source: www.tallinex.com

Alfred Jones: The First Hedged Fund Manager

WHAT YOU NEED TO KNOW ABOUT MASTER TRADERS – PART 10

“There’s no way to start a business without being bad at those things. People who are good, are good because they spent ten years being bad. Note: You have to love being incompetent in order to be competent.” – James Altucher

Name: Alfred Jones
Date of birth: September 9, 1900
Nationality: Australian, American
Occupation: Sociologist, author, financial journalist, fund manager

STARTING THE FIRST MODERN HEDGE FUND
Alfred was born in Australia but his parents took him to the States when he was 4 years old. He graduated from Harvard in 1923 and then worked as a purser on a tramp steamer.

He later joined the Foreign Service, becoming vice consul at the U.S. embassy in Berlin during Hitler's rise to power. He earned a PhD in sociology at Columbia University.

He worked for Fortune magazines in 1940s, also writing articles on non-financial subjects.

After an extensive study of the markets, Alfred discovered how they worked and decided to get his feet wet. In 1949, he started the first hedge(d) fund with $100,000 (40% of which was his own money). The fund made a profit of 17.3% in its first year.

The firm became successful, and the name of the partnership was changed to A.W. Jones Company in 1970. In 1984, its fund was transformed into a fund of funds, investing its capital in other hedge funds with different areas of expertise and investment styles. Alfred was also involved in other activities like Peace Corps.

He died on June 2, 1989.

What You Need to Know:
1. Alfred had a deep knowledge of the markets. You need a deep knowledge of the markets. More importantly, the direction of the market does not matter as much as picking the right stocks to buy and sell. Like Alfred, who started the first hedge fund, you can bring new ideas into the world of trading.

2. He started what is now part of hedge fund industry standards like choosing to take 20% of profits as compensation, charging no fees unless profits are made, and opening long and short positions.

3. Alfred and his business method wasn’t widely known until 1966, which emphasizes that there are many quiet-spoken market speculators nowadays who aren’t famous, but who’re successful.

4. Your success will encourage others. One source says Alfred’s hedge fund had then outperformed the best mutual fund over the previous five years by 44 percent, despite its management-incentive fee. Mr. Alfred's hedge fund had beaten the top performer Dreyfus Fund by 87 percent. This led to a flurry of interest in hedge funds and within the next three years at least 130 hedge funds were started, including George Soros's Quantum Fund and Michael Steinhardt's Steinhardt Partners. What can you learn from this? You success will encourage others who will also become triumphant simply because they were inspired by your success in the first place.

5. The road to success is bumpy. Alfred also trod on a bumpy road. You can’t win every month (or possibly every year), no matter how good you’re. I read that Alfred Jones's investors lost money in only 3 of his 34 years. By contrast, the S&P500 had 9 down years during a similar period.

6. Alfred’s son in law joined his business and become Managing Partner in the following year. Awjones.com reveals that the family tradition continues at A.W. Jones. Alfred’s’ grandson, Robert L. Burch, IV, became a General Partner in 2003 and manages the firm with his father. Your legacy lives on after you pass on.

Conclusion: Do you want to become a triumphant trader and leave and enduring legacy for your posterity? Remember that Alfred W. Jones studied the markets for many years. More importantly, a useful advice is given below.

“[There are] parallels between trading and professional sports. Both of them need extreme dedication and mostly rely on intuitive skills rather than learning by the book. In both you need many hours and even years of practicing to achieve good state of mind to be able to reach the best possible results. There is no professional sport player achieving his success in less than few years, the same with trading. I still remember the most cited quote of Gann that he paper traded for 10 years before entering the real market. He is famous with his many years of success on wall street, more than 50 years. So basically yes, we can compare professional trading with professional sports, but the stakes are much much higher and only the sky is the limit for the reward if you are great in the financial field. Unfortunately very few of us have the courage and patience to learn consistently the market for so long. Everybody is searching for fast money these days but this is not the true path.” –– Kolyo (Source: Binaryoptionsthatsuck.com)

Source: www.tallinex.com

Monthly Forecasts for CFDs (June 2016)

AUS200
Dominant bias: Bullish
This market is in a precarious situation. While the bias on it is bullish, bears are very active in it the present, and this has made short-term bearish signals to be generated on smaller timeframes like hourly and 4-hour charts (whereas the long-term signal is bullish). Unless price goes below the support lines at 5200.0 and 5100.0, it would be safe to look for ways to buy pullbacks in this market.

SPX500
Dominant bias: Bullish
Since May 24, 2016, SPX500 has been trending upwards in a directional mode, though price has consolidated in the past few days. There is a “buy” signal in this market – it is expected that price would continue going upwards this month, reaching the resistance levels at 2120.0 and 2130.0. As long as price does not go below the support level at 2040.0, the “buy” signal would be rational.

US30
Dominant bias: Bullish
Although the dominant bias on this CFD is bullish, it is a very weak one. The market needs to go further upward in order to clear the ambiguity surrounding it, otherwise, things can turn neutral. A movement above the distribution territory at 18000.0 would reinforce the existing bullish outlook, while a movement below the accumulation territory at 17430.0 would render the bullish outlook invalid, leading to a more conspicuous bearish presence.

GER30
Dominant bias: Bullish
In the context of an uptrend, GER30 moved downwards last week, going below the supply levels at 10200.0 and 10160.0. Further southward movement, especially towards the demand levels at 9900.0 and 9850.0, would result on a bearish outlook. Right now, it is expected that price would make attempt to rally, for those demand levels ought to serve as checks to bears’ threats.

FRA40
Dominant bias: Bullish
Price has come down so far this month, but that is not yet significant enough to result in a Bearish Confirmation Pattern in the market. Bulls ought to push price north by at least, 1000 points this month. For a Bearish Confirmation Pattern not to form here, price needs to stop going south. Should price drop further by 500 points, long trades would no longer look logical here.

Source: www.tallinex.com

Weekly Trading Forecasts on Major Pairs (June 6 - 10, 2016)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bullish
This pair moved sideways from Monday to Friday, in the context of a downtrend. The downtrend was forcefully overturned as the pair shot skywards by 220 pips on Friday, closing at 1.1365 on the same day. The bias has turned bullish, but there is a great challenge for bulls this week. While the pair could go further north, there would be a serious bearish correction when USD gains stamina versus EUR. The outlook on EUR is bearish for this month. EUR could be become weak versus other currencies – and USD is no exception.

USDCHF
Dominant bias: Bearish
USDCHF tested the resistance level at 0.9950 several times last week, but it could not stay above it (let alone reaching the resistance level at 1.0000, which is a parity area). Price consolidated till Friday and then broke downwards, almost reaching the support level at 0.9750. This significant bearish breakout has resulted in a Bearish Confirmation Pattern in the market, and price could reach the support levels at 0.9700 and 0.9650, as long as bears gain upper hands here. Should EURUSD loses its strength, USDCHF would experience some buying pressure.

GBPUSD
Dominant bias: Bearish
GBPUSD first attempted to go up last week, tested the distribution territory at 1.4700, and then moved south 300 pips, reaching the accumulation territory at 1.4400, before price made a rally effort on Friday, June 3. Most pairs and crosses would experience low volatility in June, save GBP pairs and NZD pairs (for NZD also would become strong versus other currencies in June). Yes, GBP pairs would experience high volatility this month; which would be a series of bearish and bullish movements. This week, some buying pressure might be witnessed on GBPUSD, for the accumulation territory at 1.4400 has checked repeated bearish attacks.

USDJPY
Dominant bias: Bearish
This currency trading instrument went sideways on Monday and Tuesday, and began to drop like a stone from Tuesday. The bearish movement on Friday was the strongest, bringing the market to at least, 420 pips towards the south last week. Although this bearish trend could reverse this week, it is possible for price to reach the demand levels 106.00 and 105.50 before the potential reversal.

EURJPY
Dominant bias: Bearish
This cross made some effort to go upwards last week, but this effort was rendered futile after price reached the supply zone at 124.00. Since price could not break above that supply zone, a clean decline was witnessed as price came down, closing below the supply zone at 121.50. Just like USDJPY, it is possible for price to reach the demand zones at 120.50 and 120.00; even if there would be a bullish reversal after that.

This forecast is concluded with the quote below:

“My world is trading and markets. This is where I am very comfortable and extremely confident…” – Sam Seiden

Source: www.tallinex.com

Difficult Markets Produce Fine Results – Part 1

“Trading requires you to be wrong on a regular basis – in fact you are wrong more often than you are right. And this constant grind requires a certain degree of fortitude to endure.” – Chris Tate

There’s no way to become victorious easily.

You don’t become victorious by trying to be victorious. You become victorious be surmounting the challenges life puts in your way.

Trading success doesn’t come by accident. You’d attain it through hard work, humble acceptance of reality, faithful endurance under difficult challenges. What a remarkable example for many traders today! Never forget that your breakthrough is largely in your own hands.

Trading mastery isn’t beyond your ken, though you might emote that nothing good comes cheap. Where you’re coming from doesn’t matter, but where you’re going. Your dismal trading experiences shouldn’t deter you from attaining your dreams as a victorious trader.

Difficult Markets Produce Fine Results
Unlike those who become envious and sad when they see their fellow human beings making solid achievements in life, I’m happy whenever someone becomes successful in life. I’m happy whenever I come across a successful trader, just because it strengthens my conviction that it’s possible to be a winning trader. This also serves as a powerful testimony to doubting Thomases in the public.

As a one-on-one trading coach (not via webinars or trading rooms), I’ve trained many people the art of trading and I’m happy whenever they go on to become successful market players.

Some people completed their training and then abandoned the markets. Some didn’t bother to finish their training. Some completed their training and then abandoned the Golden Rules given to them, doing something else. Every strategy under the sun must be accompanied by the Golden Rules; otherwise the joy of trading won’t last long.

I need to mention this fact: Trainees simply do themselves a favor when they get coached by successful traders who’re also talented teachers. It’s common for someone to think they’re doing you a favor by hiring you to coach them. Unless the coach isn’t a successful trader on her/his own (which is very common), it’s the coach who’s doing the trainees a favor by revealing their winning systems, which took them many years to perfect.

It’s a great joy for me to see that some of my former trainees are now successful – a good evidence that difficult markets produce fine results.

One of those successful traders who happened to be a past trainee is called Caleb by name. He got coached several years ago and undoubtedly, he was practicing with the markets.

Last year, some of his acquaintances told me that Mr. Caleb had been making money from the markets. That was no big deal, for the Golden Rules of trading work for everybody who applies them faithfully, but what made me surprise was the fact that year 2015 was a very difficult year for traders, and if anyone made money in the markets in that year, then it’d be much easier for the person to make money in years when the markets become favorable.

I began to plan an appointment with Mr. Caleb because his trading results in the year 2015 were 3 times better mine (who’s his former coach). Some days later, he sent me his full account history. I was amazed to see that he made decent profits in the most difficult months of that year. This guy wasn’t a lucky gambler who used high risk to make maximum profits in a short period of time. Instead, he’s a conservative trader who goes for very small but consistent profits.

I was also amazed by these facts I discovered in his trading habits:

1. His was trading manually
2. His trading took him only 5 hour per week, for he was then working full time for an employer
3. His position sizing methods were safe and sensible
4. He used stop loss and stuck to them religiously
5. He’s one of the most disciplined traders I’ve ever seen. He sometimes cuts his negative positions before they hit his stops
6. He sometimes used take profits, but not always (a method exposing him to unlimited gains which can wipe out his many small losses)
7. He’s the fortitude and patience to endure days or weeks of losses, knowing that some big wins would soon wipe out those losses

The above list is part of his secrets. I think some of these things are what every trader should do, irrespective of their trading methodology.

One day, as I was walking beside a paved road on a campground, he pulled up his jeep and gave me a lift. We talked briefly and he gave me an appointment. I appreciated this because he was a very busy man.

That’s another point. He was able to trade his way to success despite his very tight schedule, contrary to the excuses certain people give for not trying trading (they wrongly think they’re too busy to trade). I was able to see Mr. Caleb where he lived. He told me that the trading method he used was similar to what I gave him several years ago, but with some modification.

What was this modification? That was what I wanted to know. Clearly a former trainee can become better than his coach. Mr. Caleb is a good example. He’s a bright trader indeed!

I interviewed him about his entry criteria, risk control style and money management approach. What were his stop loss and take profit levels? What factors did he consider before making trades? What about his exit strategies? Mr. Caleb took out his laptop and explained everything to me in a generous and transparent way.

The interview was an eye-opener. It would be posted in the second part of these series, so that you can gather some points that might potentially help you in your own trading too.

This piece is ended by the quote below:

“The fact that I trade my own strategy, in my own broker account, lets people know that I believe in my own work, and I'm willing to stand behind it with my own money.” - Jan Roozenburg

Source: www.tallinex.com

Monthly Technical Reviews on Gold, Silver and Bitcoin (June 2016)

GOLD (XAUUSD)
Dominant Bias: Bearish
Gold dropped persistently in May 2016, reaching a high of 1303.53 and a low of 1199.79. This has resulted in a clean bearish outlook on the market, and in spite of the present weak bullish attempt, price is expected to continuing moving downwards this month, reaching the demand levels at 1170.00 and 1150.00. It is possible that price goes beyond these demand levels. The bearish outlook would be valid as long as price does not go above the supply levels at 1280.00 and 1290.00.


SILVER (XAGUSD)
Dominant Bias: Bearish
Just like its Gold counterpart, Silver also moved downwards seriously last month, going below the supply zones at 16.5600 and 16.2900. Price reached a low of 15.920 in that month, causing a Bearish Confirmation Pattern in the market. The market is currently quiet – which is a pause in the downtrend. Further downward move would resume this month, and could potentially take price towards the demand zones at 15.4600 and 15.000. The supply zones at 16.5000 and 17.000 would try to halt possible rallies along the way.

BITCOIN (BTCUSD)
Domiant Bias: Bullish
Bitcoin essentially consolidated in the months of March and April 2016 (though there was a vivid rally in the middle of April). In May, Bitcoin consolidated again, but broke out significantly in the last several days of the month. Needless to say, the breakout favored bulls: Price skyrocketed by over 10,000 pips within May 26 to 29, followed by the current shallow correction. The correction could continue, according to the behavior of this cryptocurrency, but it would not render the ongoing Bullish Confirmation Pattern ineffective. It is expected that price would go above the distribution territory at 600.00 this month.

Source: www.tallinex.com

Weekly Trading Forecasts on Major Pairs (May 30 – June 3, 2016)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
Last week, EURUSD went downwards 110 pips, just as it was projected. There is a bearish signal in the market, which would cause its weakness to hold out, as long as USD is stronger than EUR. The pair would continue trudging south this week, unless USD shows any signs of vulnerability. This means that EURUSD could rally in case USD shows any signs of weakness. EUR might also experience some gains against certain currencies.

USDCHF
Dominant bias: Bullish
This pair trended sideways last week, and moved slightly higher on Friday. There is a Bullish Confirmation Pattern in the market, coupled with a possibility of testing the resistance levels at 0.9950 and 1.0000 (a level of parity of USD with CHF). However, it is unlikely that the price would ever go above the resistance level at 1.0000, because a probable threat from CHF remains. CHF might gain strength versus certain majors – which could also affect USDCHF.

GBPUSD
Dominant bias: Bullish
Cable moved upwards 200 pips, testing the distribution territory at 1.4700 on May 25. Price was unable to stay above that distribution territory, since bears fought successfully to halt further rally, effecting an 80-pip correction. This week, the probability of Cable rallying further is higher than the probability of it going south significantly. The outlook on the market is bullish, though constant presence of disgruntled bears is a threat.

USDJPY
Dominant bias: Neutral
This market was caught in an equilibrium phase throughout last week, with no bullish or bearish victory. Nonetheless, a closer examination reveals that bulls are still willing to push price northward; and they would gladly do so when conditions become favorable to them. In case bulls win, a bullish breakout to the supply levels at 111.00 and 111.50 might be witnessed. The possibility of a northward breakout would be in place as long as price does not go below the demand levels at 108.50 and 108.00.

EURJPY
Dominant bias: Neutral
This currency trading instrument has been going sideways for 2 weeks. The sideways phase would be in force until price crosses below the demand zone at 121.50, or above the supply zone at 125.50. Those demand and supply zones are strong, and unless price overcomes one of them, this sideways movement would remain. The longer the sideways movement is in place, the more imminent a breakout is (and the more directional the breakout would be when it occurs).

This forecast is concluded with the quote below:

“The big dogs are making an average profit over lots of occurrences utilizing modern technology and the plethora of ways that they can trade. Even so, the little guys with smaller sized accounts can complete with them and, in many cases, outperform them. That’s because they are small and don’t have liquidity issues or regulatory restraints.” – Phil Newton (Source: Trade2win)


Source: www.tallinex.com

Ottavio Biondi: Trading with Powerful Strategies

WHAT YOU NEED TO KNOW ABOUT MASTER TRADERS – PART 9

“As a trader, the brutal truth is that you only get paid for your results. There is no 'time and a half', or over-time rates. We live in a results economy, not a time economy, like people who have ‘jobs.’’ – Louise Bedford

Name: Ottavio Biondi
Nationality: American
Education: M.B.A. (Harvard University)
Occupation: Trader and fund manager

GETTING A GOOD STRATEGY OUT OF LOTS OF CRAP
Ottavio is a co-founder and managing partner of King Street Capital Management, LP, launched in 1995. He and another co-founder, Brian Higgins, manage the firm’s portfolios.

King Street tripled in asset value from 2006 to 2010, rising to an all-time high of $19.9 billion.

The firm speculates on bonds, equities, currency, warrants, and options across four funds, looking for distressed and undervalued firms, value investing, capital structure trades, spin-offs, mergers, and acquisitions. The firm engages in short and long trades.

Ottavio got married to Jamie Nicholls in 1997.

What You Need to Know:
1. King Street Capital Management has been doing well overall, though some years were better than others. The year 2011 was an example of a bad year, but the loss was only 1.2%. Compare this with portfolios that lost tens of percentage. Don’t forget that small losses are very easy to recover. In 2012, the firm made a net profit of 12.4%.

2. Please see the quote above, Ottavio Biondi made a personal income of $100 million in 2013. This is an example of payment for results.

3. Sometimes, an empty barrel makes the loudest noises. Most of traders who shout online and on the media aren’t successful in the markets; whereas there are unknown traders, who’re silent, and yet they make cool money consistently. According to Bidnessetc.com, “both Biondi and Higgins seldom appear for interviews or press meetings, since the inception of their fund in 1995 in New York. At the beginning of 2013, the firm managed $18.5 billion and it is yet to conduct an investor day. An investor day is a normal occurrence for many hedge funds, where the managers interact with prospective investors and try to woo them to invest in the fund. The co-founders believe that their primary job is to manage assets rather than mingle with the clients. Biondi’s philosophy puts emphasis on higher returns and believes a better fund performance is the best indicator to attract investors.”

4. As far as Ottavio’s King Street is concerned, results speak volumes, owing to good strategies the firm uses. For you to get paid as a trader, you need a good strategy. Unfortunately, many strategies are simply useless, while good strategies are as rare as diamonds.

Then how do you get a good strategy when majority of strategies aren’t useful? A very helpful answer has been provided below, from an invaluable website called Collective2.com. This website is where numerous winning traders use strategies that are copied by many, many thousands of astute investors. Here’s the answer in form of a short article:

The Role of Trash Cans in Developing a Trading Strategy
“When you develop trading strategies as your profession, a large portion of your work ends up in the trash can.

Almost every week I have a new trading idea. And usually, that idea seems "good" to me. So I turn it into a computer program.

Then I study the back-tested results. And usually (about 98% of the time, I estimate) - the so-called "good" strategy goes straight into my trash can.

Why? Because once you analyze a strategy over the course of several years' worth of historical data, you see the blemishes, and you realize that the "good" idea isn't actually so good after all.

Okay, what about those other 2%?

Well, next I look at the results, in the form of a graphical representation of the strategy's equity gains and losses. If the graph look like a mountain range - up and down, up and down - then it goes straight into the trash!

Okay, what next? Next, I look at the average annual performance. Is it higher than the maximum drawdown? No? Into the trash!

Next, I examine the annual gain per position. Is it greater than typical slippage and commission per trade? No? Into the trash!

So, as you can imagine, there's a lot of crap piled up in my trash can, representing hundreds of hours worth of programming, and data analysis, and study. All of it - in the trash.

To me, that's a mark of success. It means I'm selective, and I don't rush into things. I'm dealing with money, after all. One must be careful.” - Gianni Salerno (Source: Collective2.com)

Source: www.tallinex.com

Weekly Trading Forecasts on Major Pairs (May 23 - 27, 2016)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
EURUSD went downwards last week, closing below the resistance line at 1.1250. There is a bearish bias on the market, and the support lines at 1.1150 and 1.1100 could be tested. The only thing that can make this happen is continuous stamina in USD as compared to EUR; for the latter would try to gain some stamina this week, against other pairs (please watch EURCAD, EURCHF and EURJPY). Any show of vulnerability in USD might effect a rally in the market.

USDCHF
Dominant bias: Bullish
Based on the expectation last week, this pair was able to continue its northward journey. Price moved north roughly by 160 pips, closing slightly above the support level at 0.9900. There is one threat to the existing bullish outlook – the possibility of a rally in CHF. CHF might rally this week, which would affect CHF pairs, and as such, USDCHF would face some difficulties in journeying further upwards. For the pair to go upwards, USD must showcase more stamina that it has at the present.

GBPUSD
Dominant bias: Neutral
Last week, GBP gained strength versus other currencies as expected, and surprisingly against USD. GBPUSD went upwards by over 300 pips, reached the distribution territory at 1.4650, where the buying pressure was truncated. Further bullish movement would have resulted in a clean Bullish Confirmation Pattern in the market, but as bears performed a check on the bullish movement, price got corrected by 140 pips, thereby forcing the market back into a neutral territory. There would be mixed signals in the market this week, since GBP would be strong versus some currencies, while weak versus some currencies. In case of GBPUSD, further rally is possible.

USDJPY
Dominant bias: Bullish
This market went upward more than 170 pips last week, getting to the supply level at 110.50. There is a Bullish Confirmation Pattern in the market, and price might go further upwards this week, reaching the supply levels at 111.00, 111.50, and 112.00. There are demand levels at 109.00 and 109.50, which should resist bears’ machinations. The bullish outlook would make sense as long as price does not go below those demand levels.

EURJPY
Dominant bias: Neutral
The EUR/JPY simply moved sideways last week, consolidating between the demand zone at 123.00 and the supply zone at 124.00. Possibility of a breakout is very strong this week, as price may assume a serious trending mode. However, when a breakout does occur, it could be in favor of bulls. Price might target the supply levels at 125.00 and 126.00; plus bullish effort would also be witnessed on certain other JPY pairs, like CHFJPY.

This forecast is concluded with the quote below:

“When a trader sees the market as it really is, rather than what they want to see, the act of trading becomes more relaxed and they become more confident and successful. Does this sound like the type of experience you want trading to be?” – Rebecca Price (Van Tharp Institute)

Source: www.tallinex.com

Should I Ditch My Trading Method? – Part 2

“Trading can be a matter of probabilities. Sometimes you'll be at the right place at the right time; at other times you won't. That's all right. If you are consumed with perfection and finding the ultimate trading opportunity, you will often miss the trades that are right in front of your nose.” – Joe Ross

Developing a Winning Trading Method
There are repercussions to be experienced when using a certain approach. You have to think about various market conditions when creating a strategy; otherwise you would end up being frustrated. So what you need to do is to look for proven and time-tested trading setups. You would not only need to create a speculation approach that works in the long run, but you would also need to use it flawlessly in particular market conditions. This is what would let you appreciate the merit of such trading approach.

1. Your method needs to respect the dominant bias. Many veterans of the markets who have developed numerous trading strategies agree that they prefer to pick trades in the direction of the trend.

2. Honestly, it would also be helpful if the method can detect when the dominant bias would be coming to an end or when it would no longer be logical to follow it. This is the real secret behind consistency.

3. Define your entry points which stack the odds in your favor. For example, it is better to buy a pullback in the context of an uptrend or sell a rally in the context of a downtrend. This allows you to set optimal stops and targets. Buying a rally in the context of an uptrend may cause you to get stopped out before the price has the chance of moving in your favor.

4. You must always give yourself an RRR of 1:2 or 1:3. This ensures that you make money with only 40% or less hit rate. Then if your hit rate is 50% or above, how happy you will be!

5. It would be very difficult for you to sustain a huge roll-down on your account if you risk only 0.5% or 1% per trade. This also means that your losses are small and easily recovered.

6. Of course you continue to trades every new setup as long as you are winning. When your losses exceed a predetermined amount, you may stop trading for the day if you are an intraday trader, or stop trading for the week if you are a swing trader, or stop for the month if you are a position trader. This is the best way to avoid continuous losses in a losing streak. By the time you resume trading, it is probable that you would stumble on a winning streak. For example, I stop trading for the month if I go down more than 7%.

Conclusion
It is normal to become emotional after a losing streak. However, veterans remain calm in a losing streak. They believe in their strategies. They simply know that a winning streak is around the corner, and they remain faithful to their trading rules. This has become their second nature, so easy. This is not easy for noobs who tend to ignore the realities of trading. Market wizards experience losses triumphantly. You too need to use subtle approaches and recognize great trading opportunities.

According to Jack Schwager, if you asked most people to categorize good trades and bad trades, you would find the answers to be quite simple… If it makes money it’s a good trade, and if it loses money, it’s a bad trade. That’s not true at all…

His quote ends this piece:

“Any approach will give you instances of winning or losing. If you have an effective approach, you will hopefully make more money than you lose. If you take a trade that follows your process exactly (whatever that process may be… fundamental, technical or otherwise), and if that trade loses money, that was not a bad trade. It’s only a bad trade if you deviate from your process and lose money. I would go further and say that if you deviate from your process and make money, it’s still a bad trade. People have to differentiate between trades that are consistent with a winning strategy, and trades that are inconsistent. That’s the mark of good and bad trades.” (Source: Thoughteconomics.com)


Source: www.tallinex.com

The Governor of Imo State, Mr Rochas Okorocha, says for government to achieve any meaningful impact on the lives of Nigerians, there must be a reduction of its workforce.


Okorocha told Channels Television Johannesburg Bureau Chief, Betty Dibia, in South Africa that the removal of fuel subsidy and government’s announced palliatives do not necessarily mean states will earn more.

He highlighted one of the issues which he believes has affected the economy of states.

“The problem we have in Nigeria is that we have recurrent welfarism states and there is no capital aspect of the project. So what you do every day is salaries.

“A situation where you collect 2.6 billion and you have to pay 5.6 billion, so you have to look for 3billion every month (borrowed) is just not feasible.

“The number of workers in the civil service can as well go to the productive sector of the economy but nobody wants to hear this.

“We should create jobs but civil service jobs is not job creation, it is job creation on the basis of sentiment and politics.

“If we want to create real jobs, lets create jobs in the agricultural sector and the manufacturing sector. If we can take 70% of the population of the workers in the civil service and bring them to the manufacturing sector, then their salaries can go to 200,000 to 500,000.”

He explained further why states should not be asked to pay the 56,000 Naira minimum wage across the board as being demanded by the labour unions.

“I don’t believe that this salary across the board is the right thing. Lagos is a very rich state, they can afford to pay 100,000. Akwa-Ibom can afford to pay 200,000 and so many states in Nigeria

“Imo State gets about 2.6 billion Naira every month when other states get about 13 billion. So what I get in one year is what some states get in one month.

“What the entire South-East collects in one month is not up to what Rivers collects in one month. So we cannot put everybody on the same level, it should be according to their states.

“Then if we must pay that money – 56,000 – 100,000 as the case may be, we must address the issue of this overpopulated workforce,” he said.
Source: https://www.channelstv.com/2016/05/16/okorocha-recommends-reduction-in-govt-workforce/

Neteller here: www..com.ng

USE YOUR DISADVANTAGE TO YOUR ADVANTAGE

USE YOUR SETBACK TO CREATE YOUR SKILLSET

The last time I felt lucky was Friday when I overheard a woman crying nearby.

I smiled inside knowing the closest I could come to feeling her pain is in the space between understanding and wondering.

I didn’t ask questions. I didn’t want to be rude.

I heard her say, “But she’s still with us.”

Then she walked away.

I woke up as 1994 James that day.

Sometimes, I’m 2003 or 2007 James. And other bad years.

If I ever find myself ungrateful, worried or concerned with myself, I know I’ve time-traveled.

So I search for gratitude. I think about my kids or who I can help today. I write 10 ideas and improve just 1%.

That’s enough for me.

Then I trade places again.

The old James surrenders. And I choose myself.

The daily practice helps me get back to today. That’s what works for me. And I’ve written about it a lot. But here’s what I’ve never told you: there are other ways to choose yourself.

And I’ll tell you what those are in a minute. But first, let me tell you what you’ll learn from today’s podcast.

A) Follow the formula:

“My youngest son is 14. He was born with two fingers on his left hand. Despite that, he is a superstar ballplayer in our town. He’s the goalie of the travel soccer team,” said Greg Zuckerman, the WSJ special writer and author of “The Greatest Trade Ever,” “The Frackers” and his latest book,“Rising Above: How 11 Athletes Overcame Challenges in Their Youth to Become Stars.”

He wrote this one with “the two best co-authors in world.”

His kids.

His son came up with the idea for the book. He thought, “Maybe there’s some lessons here for other people.”

When I was 14, I dreamt about lips.

But I found out you have to be a superstar before you fool around with girls.

“Video games will be there later. Girls will be there later. All that stuff that distracts you will be there later,” Serge Ibaka told Greg’s kids.

Serge Ibaka is 6’11”.

And a professional basketball player.

But before that, he had to escape.

“He grew up so poor that he didn’t really have sneakers,” Greg said.

He’s from the Congo. “His mother passed away of cancer at an early age. His father was a political prisoner. He realized early on that basketball was his ticket out.”

I don’t know anything about sports. But I know how to Google. Google is a company that tells you personal information about people you’ll never meet.

Google says Serge married Keri Hilson.

He was right about girls.

Focus worked.

And if Greg’s 14-year-old keeps following the formula (below), then when he time-travels, it will only be with gratitude.

Here’s the formula: ask questions, follow your curiosity, focus/be persistent, get a teacher, and:

B) Use your disadvantage to your advantage

Together, Greg, Elijah and Gabriel interviewed 11 athletes.

“These are people who were outsiders, it didn’t come easy to them early on or even later in life,” Greg said.

They interviewed Tim Howard, the goalkeeper with Tourette’s who couldn’t stop picking up dirt and rocks as a kid.

He fought it.

But it didn’t go away.

So he used his disability to his advantage.

“When he was diagnosed, the doctor said some people with Tourette’s have this hyper-focus,” Greg said. “But in a game, his mind wasn’t drifting. He was focused more than any other kid on the field.”

Maybe you’re wondering, how can I become super focussed?

But that’s not the point. I can’t copy someone else’s competitive advantage. I don’t have their genes. Or their circumstances.

You have your own set of advantages and disadvantages.

And you’ll hear a lot about overcoming difficulties in today’s podcast. But these are the steps:
Step 1. Find out what’s different about you

I’m not saying find out your competitive advantage. I’m saying find out your competitive disadvantage.

This is the thing you suck at. This is what makes you most embarrassed to be who you are.

Say it out loud.

Name it. Know it.

Then get rid of it?

No. The opposite.

Use it. This is your competitive disadvantage.

What’s mine? I’ve lost everything. I wanted to kill myself. I wanted my kids to have the money from my life insurance policy instead of having a father.

You know how I felt about becoming a dad. I was miserable. Now it’s beautiful. My daughter just went to prom.

And she let me be there for pictures.

I felt really grateful for that. She wasn’t embarrassed of me. Or maybe she was, but we have a good relationship.

I don’t know what you’ve been through.

But you do.

And when you identify it, you’re at step one.

Step 2. Use your setback to create your skillset

I only keep good people around me.

Some tell me the truth. Others always smile.

I like both types. But it’s not consistent. Because I haven’t given any one person in my life permission to be bluntly honest everyday in a specific area I need improvement in.

My readers help me. But not always. Sometimes people give feedback disguised as love. “You didn’t use a comma here or there.” I don’t care.

If I worry about commas, I’ll worry about everything. And then I’ll have a website with nothing on it. Just blank.

But that’s how everything starts.

Nothing + fear + a disadvantage = a challenge. And how you handle that challenge is called life.

I write everyday. I do the daily practice. I do what works for me.

Jim Abbott has one hand. And that was enough for him to become a professional pitcher.

Why?

Because it worked. And he built his skills around that.
Step 3. Stop trying to figure it out

Shane Battier had no friends growing up. He was excluded.

Now he’s a professional basketball player.

But if the kids were nice, if they included Shane, and made him feel normal, would he be average?

I don’t know.

“These are the outliers,” Greg said. “You can always make that argument.”

And it doesn’t matter.

Because the “what ifs” about Shane or anybody else are useless.

I sort of wrote about this in my premium book club (an extra added-value piece). I wrote about the effects of expectations versus reality.

I said it best there.

But for now, I’ll say this:

Draw the line. At some point, stop trying to figure it out.

And just start where you are.

Will you overcome? I don’t know.

But if I were Google and you asked me that question… just know I’d say, “I’m feeling lucky.”

I said the last time I felt lucky was Friday. But that’s a lie. I feel lucky right now.

I broke my own rule. I drank too much coffee.

And my heart isn’t in my stomach.

It’s with me here. On May 17, 2016.

I’m grateful I chose myself. And get to press “publish” on another episode that I hope helps you feel your organs inside you, too.

Alive and bloody inside, full of fear and heaps of hope.

Source: http://www.jamesaltucher.com/2016/05/greg-zuckerman/

Neteller here: www..com.ng

The 10 years test.

This is one of my favorite habits that helps me deal with tough times.

Whenever I run into a bad situation, my natural human reaction is to get upset, panicked, frustrated or angry.

I'm guessing about 80% of the people in the world have this same reaction.

Our brains and bodies have been conditioned to be in "fight or flight" mode. So when we encounter tough situations, a lot of times we'll have a physiological reaction to a perceived threat.

That's why humans are so quick to react in bad situations. We stress. We worry. We panic.

When I flunked my economics test, I panicked. I thought I would never land my dream job after that. I was wrong. I bounced back and have my dream job today as a VP of Partnerships.

When one of my girlfriends broke up with me, I felt like my world was falling apart. I was wrong. I bounced back and ended up meeting the love of my life this last year.

When I got a letter in the mail threatening a lawsuit, I remembered laying in bed worrying frantically about the future. I thought it was such a disaster. I was wrong. I bounced back and took care of it in less than two weeks.

So how did I deal with these situations?

Once I calmed down, I used the 10 years test.

All you have to do is ask these 3 simple questions:

Will this matter in 10 days?

Will this matter in 10 months?

Will this matter in 10 years?

Every time I do this, I find that the answer to the last question is almost always "no."

And that keeps me calm.

Give it a try. It could change your life. It changed mine.

Source: https://www.quora.com/Which-is-the-one-habit-that-can-transform-your-world-forever

Neteller here: www..com.ng

Weekly Trading Forecasts on Major Pairs (May 16 - 20, 2016)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Bearish
This pair simply moved sideways in the first few days of last week – a result of deadlock between bulls and the bears. On May 12, 2016, the bears were pummeled and forced to give way, as price moved south vividly, just as it was mentioned in the last forecast. Further southward movement is anticipated this week, because USD is supposed to gain strength versus a number of major currencies, like AUD, CAD, NZD; with EUR included.

USDCHF
Dominant bias: Bullish
As it was forecasted before, USDCHF managed to go upwards last week, in spite of desperate opposition from bears. The bullish movement last week was not up to 100 pips. Price is now around the resistance level at 0.9750 (below our targets for last week). The targets at 0.9800 and 0.9850 are still valid: Bulls would push the market upwards, plus price could even go beyond those resistance levels.

GBPUSD
Dominant bias: Neutral
GBPUSD was caught in an equilibrium phase throughout last week, save the slight dip that was witnessed on Friday. In the past several days, price has not been able to stay above the distribution territory at 1.4500 or below the accumulation territory at 1.4350. A breakout is imminent this week, which would favor bears because USD could gain some stamina this week. However, GBP would make some gains against other currencies, especially AUD and NZD, since the outlook on them is bearish for this week.

USDJPY
Dominant bias: Neutral
USDJPY moved upwards on Monday and Tuesday, and then consolidated for the rest of last week. Since this pair, just like most other pairs, did not experience strong movement last week, the bias on it has turned neutral in the short-term. However there is a probability of tour de force this week, which could trigger a significant movement on USDJPY, driving it above the supply level at 110.50 or below the demand level at 107.50.

EURJPY
Dominant bias: Neutral
The initial bullish gains that were seen on the first few days of last week were forfeited as a result of a bearish movement that occurred in the last few days of the week. There is a considerable degree of uncertainty surrounding this cross at the moment. But a major determinant of the movement for this week would be conditions affecting Yen, for it to rally or lose strength. Those conditions would also have impact on other JPY pairs.

This forecast is concluded with the quote below:

“Too often, people fail to differentiate wins that come from the market and wins that come from skill.” - Jack Schwager

Source: www.tallinex.com

Alan Howard: A Self-made Billionaire Trader

WHAT YOU NEED TO KNOW ABOUT MASTER TRADERS – PART 8

“Try not to do something just because everyone else is doing it. Successful traders are rare. If the crowd is doing it, watch out!” - Andy Jordan

Name: Alan Howard
Date of birth: September 11, 1963
Nationality: British
Occupation: Hedge fund manager and philanthropist

GIVING BACK TO THE SOCIETY
Alan was born in UK, to a Jewish family. He attended Imperial College London, bagging an MSc. He then began working in the financial industry.

He co-founded Brevan Howard Asset Management LLP. In the year 2014, Forbes named Alan one of the 40 highest-earning hedge fund managers. In the same year, he was mentioned in the 53rd rank of the Sunday Times Rich List. This is a proof that the fund management company he co-founded has been successful. As of April 2015, Alan was worth GBP £1.5 billion.

One source reveals that Alan serves in other capacities like on the New York Federal Reserve's Investor Advisory Committee on Financial Markets and is one of a group of financial managers who on occasion advise New York Federal Reserve officials on economic policy. He’s also engaged in various charitable foundations that support Jewish causes and other needs.

He was a former director of the Conservative Friends of Israel. Alan is married to Sabine Howard and they’re blessed with 4 children. He lives in Geneva, Switzerland.

What You Need to Know:
1. Alan is a self-made billionaire. He wasn’t born a billionaire. You might not have been born with a sliver spoon, but you can attain you goal of financial freedom. Alan made his money from the markets, and you can too (though you might not be as rich as him).

2. No matter how good you’re, you’ll have losing weeks or month. Alan’s Brevan Howard Asset Management had a losing year in 2014, which made the firm forfeit some of its funds. As long as you are able to survive losing weeks, months or years, you’d be fine.

3. Veteran speculators often open more positions than neophytes; for veteran speculators follow most of their trading signals religiously while neophytes shrink from fear of opening trades that might turn out to be losers. The criteria being considered by each camp differ, since veteran speculators aren’t swayed by noises. Neophytes open big positions relative to their portfolios, whereas veteran speculators use prudent volume sizes. Although, veteran speculators open more positions than neophytes, their risk is remarkably less per position. This fact is in harmony with the notion that that equity fluctuations and market impacts are more telling on neophytes’ portfolios.

This article is concluded with a quote from Charles Sizemore:

“…My style is not right for everyone. Other people try to invest the way I do and fail, just as I often fail when I get outside of my areas of expertise and try a style that is not suited for me.”

Source: www.tallinex.com

Weekly Trading Forecasts on Major Pairs (May 9 - 13, 2016)

Here’s the market outlook for the week:

EURUSD
Dominant bias: Neutral
EURUSD went upwards on Monday and Tuesday, topping at 1.1615. Since then, price has come down by over 200 pips, closing at 1.1403 on Friday. It is clear that the gains made by bulls have been erased by bears, but the bias on the market would not really turn bearish until price goes below the support line at 1.1300. That is exactly what is expected this week: The outlook on EUR is bearish and the currency would be weakened against other majors. By the end of this week, there could be a Bearish Confirmation Pattern on EURUSD.

USDCHF
Dominant bias: Bullish
Between Monday and Tuesday, this pair dipped into the support level at 0.9450. From that support level, further dip was rejected as price assumed a clean northwards movement, closing on Friday, above the support level at 0.9700. That was a movement of over 280 pips! This week, the market area to be attacked first would the resistance level at 0.9750, after which bulls would carry their battle towards other resistance levels at 0.9800 and 0.9850. The bullishness on USDCHF ought to have become more conspicuous by the end of this week.

GBPUSD
Dominant bias: Bullish
Here, bulls managed to push price towards the distribution territory at 1.4750 – a juncture at which they were overpowered by bears. Price has come down 320 pips since then, closing below the distribution territory at 1.4450. What next? Since the outlook on USD is bright for this week, GBPUSD might have some difficulties going upwards (although that is not an impossibility). On the other hand, GBP would be strong in its own right, and it may be seen going upwards versus other currencies like EUR, AUD, and NZD.

USDJPY
Dominant bias: Bearish
This currency trading instrument simply consolidated throughout last week, though in the context of a downtrend. The possible direction on USDJPY is ambiguous for this week. We might see bears pushing the pair further southward; whereas it is a probability that could be frustrated by expected stamina in USD. The monthly outlook on JPY pairs is bearish till around the end of the May, when they might rally.

EURJPY
Dominant bias: Bearish
Last week, this cross also behaved almost similarly to USDJPY. There were fleeting upwards and downwards swings on the cross, while the bias remained bearish. This week, we could see further bearish movement on the cross, which might take price below the demand zones at 121.50 and 121.00. Since the current outlook on JPY pairs is bearish and EUR is also expected to be weakened, EURJPY should decline further.

This forecast is concluded with the quote below:

“I was born in San Juan City, Argentina. It is very close to the Andes Mountains. I have a degree in Business Administration. I've always been interested in trading, but what really forced my hand, and made me absolutely need to become a full-time trader, was a conversation I once had with a professor. When he learned I was experimenting with different automated trading algorithms, he laughed and told me I was a fool to think I could beat the market. Challenge accepted! From that moment, I became a trader!” - Maximiliano Lepez (Source: Collective2.com)

Source: www.tallinex.com

Should I Ditch My Trading Method? – Part 1

A Crucial Question from All Traders

A positive expectancy method makes you risk less than you plan to win; reverse the logic for a negative expectancy method. Therefore, a negative expectancy trading method is what you must abandon, for there is no reason for you to abandon a positive expectancy method. There is no trading method under heaven, no matter how good it is, that does not go through occasional losing streaks. How should you treat a good method that is currently in a losing streak? This piece gives factual and useful advice for all traders: whether beginners or experts.


Should I Ditch My Trading Method?
When you ditch your trading method for another one, the new method may experience a losing streak right from the start, while it later experiences a winning streak; or vice versa. You can win without even considering the economic effects on a market, for they have already been priced in. When you are using a negative expectancy method, you may want to over-optimize it during back-testing and believe it works fine in future. If the strategy works contrary to the belief, you conclude the system is bad, ditch it and buy another heavily hyped one. Please bear it in mind that if a method worked in the past (as long as it is not a negative expectancy one) it is not bad. It simply means the current market situation is not favorable to it. Is this assumption logical? Think about it. Positive expectancy.

You would know that your method works and the market favors you when you are in a winning streak. The consistent profits you generate would let you know that the market favors you. The more profits you make through a method, the more faith you have in the method. You use it more frequently and look forward to further trading setups. You cannot wait to trade further setups – sometimes making mistakes of trading suboptimal setups, which make you plunge into a losing period because there is no-one who generates profits (with no losses) for life. The losing period makes you get angry, and you ditch the method. At the time of ditching, the method is about to start making profits again (but you would never know because you are no longer using the method).

When you tell people that the method is now useless, that is when the markets might become favorable to it again. When a good method has sensible positive expectancy incorporated into it, it would not become useless forever. There would always be days and nights in succession; day after night and night after day. There would be periods when a good method would be working contrary to the markets and there would be periods when it would work in agreement with the markets. Why would you throw away your baby out with the bath water? May be you could stop using the method after you have lost a predetermined amount of small percentage or use another transient method that works in agreement with the current market conditions, so that you resume using the previous method when you sense the market is favorable to it. In a bear market, you use a method that allows you to sell. In a bull market, you use a method that allows you to buy. In an equilibrium market, you use a range trading method or stay out of the market.

It is important that you sense when a method temporarily stops working in a current market condition so that you temporarily stop using it. For instance, consider the art of following the line of the least resistance, the art is useless when an instrument is in an equilibrium zone, albeit it enables to people garner gains when the instrument again begins to move in a predictable manner. This happens now and then, year after year.

What can you do to escape this kind of pitfall when you know that your method is meritorious? How can we know whether a market condition would be favorable to it or now? Ultimately, what is most important is to realize when a method is profitable, when to stop using it temporarily and when to start using it again. Please do not ditch your method if it is a positive expectancy one! You merely need to stop using it temporarily when it works temporarily against the markets. The method might soon resume working in favor of the markets. Can you recognize this when it happens? You would need to keep this in mind and sense when the markets are favorable to the method again. The trading results would determine that.

A writer once mentioned that Richard Donchian, who was an astute trend follower for several decades, began trading in 1979 with only twenty thousand dollars. This small portfolio was increased to eighteen million dollars over many decades. While the achievement was commendable, many traders would find it difficult in reality because there were periods of losing and winning streaks. He was able to achieve the goal because he aborted his losers and rode his winners: plus he was not discouraged from opening the next order. He did not ditch his trading methodology that experienced drawdowns, alternated with gains. It was easy to blame our method rather than ourselves.

If you abandon one trading method for another and you do that over and over again, you would never appreciate how a method may survive drawdowns and recover from them. Whether the trading method is used systematically or discretionally, you need to be faithful to it. The longer you use a method, the more you would appreciate it and the more returns it might generate for you.

Source: www.tallinex.com

Simple, Putin would win. No one here mentioned that he is an 8th dan in judo. What does 8th dan mean?

Belt colors in judo are slightly different depending on which country you're in but the dan ranking system should be international. Dan means stage or step. I'll be specifically writing about dan awarded by Kodokan.

When you reach first dan that means you're no longer a junior and that you've mastered all the basics and are a decent judoka. When you reach third dan, you are qualified to teach judo. As you progress up the dan ladder, you are gain seniority and experience. 10th dan is the highest possible level. (Theoretically there are no limits but no one has ever gotten past 10th dan) That has only been awarded a handful of time since judo's inception. At the moment, there are only three living men who have attained 10th dan. All of them were born in the 1920s so they're all pretty old.

9th dan is also super exclusive. Really, you can't make 9th dan unless you dedicate all your time to the sport.

8th dan means you are, more or less, a master of judo. Add to this combat training he would have probably received as part of the KGB... Putin would take everyone out with no difficulties.

Source: https://www.quora.com/If-every-world-leader-was-put-in-a-room-and-started-fighting-which-one-would-win

Neteller here: www..com.ng

There’s no denying it, since as long as smartphones have existed, phone theft has been an issue. This isn’t a problem that’s taken lightly or brushed aside; industry, regulators and technologists have made significant advancements on addressing and curbing phone theft. As early as 2002 Europe was at the forefront, with the GSMA creating a shared database of stolen phones that could be barred on all networks. In 2004 the UK launched National Mobile Phone Crime Unit, to better police the problem. And in 2004, the GSMA created a Central EIR or CEIR to increase efficiencies of tracking the stolen phones database across Europe.

It’s not just regulatory solutions, technical advancements have been encouraged as well. In the US, the CTIA, The Wireless Association, recently announced the Smartphone Anti-Theft Voluntary Commitment, dictating that all smartphones manufactured for sale in the United States after July 2015 must have "kill switch" technology. This is a system for remotely disabling smartphones and wiping their data. A kill switch is a step in the right direction to deter smartphone thefts across the country (and hopefully the world) and we commend the continuous efforts from the industry to protect smartphone users.

Despite these initiatives, the issue of phone theft is still a massive, global problem. While there isn’t one single solution that is going to alleviate phone theft, the problem can be stifled with industry collaboration, technology, and widespread awareness for how to stay safe.

Lookout’s Phone Theft in Europe report, a survey of smartphone theft victims conducted by IDG Research, examines the smartphone theft epidemic in the UK, France and Germany. The report highlights regional differences and includes context around how, when and where phones are stolen and also how individuals react to phone theft, including the steps they take to recover their phones. (Source: Lookout.com).

The above shows that phone theft is everywhere in the world.

But what about those who steal/discover very cheap phones and refuse to return them? Isn’t that poverty? I wonder why phone stealers refuse to be faithful in very small things like cheap phone. And these are the people that would be pointing accusing fingers to government people, calling them thieves. Yet, they themselves can’t return a stolen cheap phone that can’t make any difference in their life, except to add to the curses on them.

Neteller here: www..com.ng