Happy Camper!!

1
Happy Camper!!
2
Oh No!
3
Is there another way?
4

• The trend is your friend
• When you trade with the trend!

5
Trend Follower

• No degree required
• Knowledgesharp focus
• Discipline
• Patience
• Not fortune tellerschoose calculated risk

6
Trend following is like democracysometimes it
doesnt look very good but its better than
anything else out there.
7
Currency Market

• Offers everyone the same opportunities
• We take what the market gives

8
Money Management

• How much are you willing to risk?
• 1000 X 2(.02)20 (1 lot-20 pip stop)
• 1000 X 5(.05)50 (1 lot-50 pip stop or 2
  lots-25 pip stop)
• If starting with less moneyyou may need to take
  more risk-as long as you understand that!

9
When Buy/Sell?

• When the trend has begun.
• KISS
• Breakouts, formations, patterns

10
Losers?

• Get out fast!
• Whipsaws are part of the game.
• Set your stops.

11
Winners?

• Let your winners run!
• No limitsfully exploit the move
• Not looking for tops and bottoms-just a chunk out
  of the middle
• Move stops to protect profits

12
Trust your trade!

• Trend following is the best way to manage risk
  and uncertainty.

13
(No Transcript)
14
GBP/JPY

• Jan. 8th
• Market buy _at_ 230.39
• Moved up very nicely, kept moving stop closer to
  protect profits.

15

• FEAR

16

• Stopped out 71 same day

17
(No Transcript)
18
GBP/JPY

• Jan. 9th
• Sell playing DT on 30 min
• ???????
• Against the trend
• -4

19
(No Transcript)
20
GBP/JPY

• Jan. 10th
• Entry order buy 232.13 (stop 231.5, limit 233.08)
• Limited out 95

21
(No Transcript)
22
GBP/JPY

• Jan. 11th
• Entry order buy 235.16 (stop 234.46, limit 237.7)
• I closed to take profit
• 124

23

• FEAR

24
(No Transcript)
25
GBP/JPY

• From 1/9 to 1/23this pair moved from 228.07 up
  to 241.51
• 1344 pips!!!

26
Good/Bad

• I bought when the trend had begun (YES)
• I had stops in place (YES)
• I placed limits (NO)
• I took profitsFEAR (NO)
• I did not trust my trade!!

27
(No Transcript)
28
GBP/USD

• Jan. 5th to Jan. 23rd
• 1.9262 up to 1.9916
• 654 pips

29
(No Transcript)
30
USD/JPY

• Jan. 5th to Jan. 29th
• 117.99 up to 122.19
• 420 pips!

31

• Simple methods of decision-making are more
  successful than their more complicated
  alternatives.
• (KISS)

32

• It took me a long time to figure out that no one
  really understands why the market does what it
  does or where its going. I have sat thru
  hundreds of hours of seminars in which the
  presenter made it seem as if he had some secret
  method of divining where the markets were going.
  Either they were deluded or they were putting us
  on. Most Elliott wave practitioners, cycle
  experts, or Fibonacci time traders will try to
  predict when the market will move. I personally
  have not been able to figure it out. When I
  finally concluded that I would never be able to
  predict when the market will move that I started
  to be more successful in my trading. My
  frustration level declined dramatically, and I
  was at peace knowing that it was OK not to be
  able to predict or understand the
  markets.Charlie Wright

33
(No Transcript)