My Life as a Currency Trader and I thought I would never say that

Today I want to write a post which has a more personal tone than the other posts you may have read on my website in the past. A few people have asked me about my daily routine and if trading actually leaves room to "free me" from the 9 to 5 life style and provide me with the ability to spend a lot of time with my friends, family, etc. Within the next few paragraphs I will tell you the story of my everyday life so that you can see how my life around automated trading woprks and if this is the type of life style you would want to have. I have to warn you that my life doesnt include monthly cruises to the Caribbean or driving a Porsche out of my drive way but I can assure you that it has many negative and positive aspects, like any other life style has.

I am a big believer in early mornings and I usually wake up sometime between 5 and 6 a.m, usually with the first ray of sunlight. After doing this I usually check my email and answer whatever questions, doubts or inquiries people have sent me during the night, this usually takes me about half an hour although I can get even 25 emails every day which require thoughtful and precise answers (I am a fast typer by the way !). After doing this I like to spend an hour checking on the markets and the systems currently being traded, I check on all my personal, asirikuy and third party accounts and I send emails to anyone who has an account with a problem in order to correct it ASAP (most of the time there are actually no problems). Then I like to watch an old time movie - probably in the style of Indiana Jones or Independence day - or an old episode of Seinfeld (my all time favorite show) while I do my daily 40 minutes of cardio (youre all doing this too right ?).

After this I cook my breakfast and depending on the mood I either spend the rest of the day working or I take the day off and go out to have lunch and spend the afternoon with my girl or my family (which includes hers). I usually work more than 60 hours every week (no kidding), making and preparing videos for Asirikuy, writing the weekly newsletter, designing new systems, researching commercial systems, researching systems developed in forums, testing systems, analyzing data, etc. I often tend to think that the fact that I dont have a 9 to 5 job is actually detrimental to my life in the sense that I tend to over-work a lot, since there is no 9-5 span of time which limits when I work... I just sometimes work all the time !

I do have to say that there are several things I like about my life style, one of the things I like the most is the freedom to cook :o). I love cooking and I have to say that I spend about 3 hours every day preparing meals for myself and my girl when she is home. I am by no means a great cook but I am improving and hopefully in the future Ill be able to eat delicious meals everyday, courtesy of cooking skills developed over years of training. It seems that most chemists end up being good cooks, hopefully I am not the exception !

Now there are other aspects I hate, and the most important of this is that I have no control over when I can be or not be available. Trading - either manual or automated- demands a great deal of focusing and control, it is not an option but mandatory to have a 24/7 internet connection you can use all the time and you cannot simple "get lost" as there are many people (in my case) which count on you and your expertise everyday. So I actually do not work 9-5, in a few ways I work 24/7 .

Maybe I am just a hopeless workoholic but I like what I am doing and I think (at least hope !) that I am making a difference in the sense that I am providing an honest and transparent approach to automated trading without hoping for any massive reward. The earning I get from Asirikuy and this website are quite small (I would have to charge about 50 USD for the subscriptions if I wanted to live from this !) but I think that all the work is rewarded in the sense that I get to live from trading my own systems, I get to improve them as time goes by and I get to do all of this without having to be dishonest, unethical or scamming any poor soul. Will I ever get burned out from doing this and decide to just live from trading and leave the stress of handling my small -yet very time consuming- business ? Hopefully with all the good feedback I get and the satisfation this generates me this wont be the case :o)

If you would like to learn more about my approach to profit from automated trading and how you too can learn to get realistic profits using sound trading strategies please consider buying my ebook on automated trading or joining Asirikuy to receive all ebook purchase benefits, weekly updates, check the live accounts I am running with several expert advisors and get in the road towards long term success in the forex market using automated trading systems. I hope you enjoyed the article !

Diposting oleh Unknown 04.32 0 komentar

The PID SP4 SP5 expert advisor a review Why I never bought this ea

A small while ago there was a lot of hype about this new expert advisor called P.I.D SP4. People were getting mass returns on this expert advisor and so many more people began to converge on this ea and start to trade their capital using the expert.

I have to say, I warned them ! Expert advisors that offer mass returns on some months are very or more exactly extremely prone to lose all their money and even more. As I have said on an earlier post, in my experience, profitable consistent expert advisors seem to have at least a 30-40% draw down of every 10% consistent profit they get on the account. This is simply the balance demanded by the market and the reason why top fund managers almost never get more than 20% profits a year, they are extremely conservative because they know the inherent risk that comes with high profitability.

I never traded P.I.D myself but saw it trading on many friends accounts. The results were just like I expected, this correlation based ea found a point of divergence and the whole account got wiped out. Then, a second version, P.I.D SP5 was released, which although promised to be much more stable than the ea before it, wiped the entire authors demo account less than a month after its release. I dont think the author realized how dangerous and prone to catastrophe his strategy is by design and I dont think he purposefully deceived people into buying something he knew would fail. I think this was just a consequence of a lack of understanding of what the market demands for what the market gives. A consequence of trying to find a holy grail. If you would like to read more about profitable expert advisor, how to find them, etc, please buy my automated trading ebook or subscribe to my weekly newsletter were I analyze current experts I am testing each week (you also get investor access to live and demo accounts).

Diposting oleh Unknown 09.00 0 komentar

Too Good to Be True Why it is Never True

Yesterday while I was searching some forums and reading the comments of the posters I came across a conversation about the very traditional saying "if it is too good to be true, it probably is". As I read more I saw some very interesting aspects about the way in which the conversation was being carried out, specially the opinion of one of the debaters who was against the hypothesis claiming that is was nothing but mediocre and destructive to a person with an "achieving" personality. Today I want to write a post about my opinion about this "too good to be true" issue and how I feel it is a very valuable piece of common knowledge based on hundreds - or even thousands - of years of human experience. In particular I will discuss its relationship with automated trading and why it is extremely importance in this field
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First of all, we need to understand the nature of this timeless phrase. Why does it exactly mean and what is the power behind it ? What do people mean by "too good to be true" ? Generally this sentence speaks about the overall human experience in the sense that it reflects the expectations of the general public. When someone tells you that a certain endevour sounds "too good to be true" it means that you may be drastically underestimating the efforts or the actual real possibilities of doing what you are intending to do.

As a clear example, imagine that you lived in the 19th century and you told someone "I will be building a machine to fly in one week". They would tell you that it sounds too good to be true and the actual truth is that you would have found the endevour much more time consuming and difficult than what you originally thought. It is worth noting that the saying does not necessarily limit the possibilities of what can be done but generally the manner in which things can be carried out meaning that if something that was "too good to be true" could be done in that way, you wouldnt be the first person doing it and it wouldnt be too good to be true after all, because it would be true.

So how does this all apply to automated trading ? It applies in a very simple way. If it was possible and so simple to turn 500 USD into 1 million in 5 years, then it would have already been done and it wouldnt be considered too good to be true. However, since achieving this extremely high capital returns isnt something which is being done by the worlds top traders or trading organizations (or anybody else for that matter... if you have an example in automated trading I would absolutely love to hear it) then it simply falls within this category with very good reason.
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Is living from automated trading too good to be true ? The fact is that if you are thinking about placing a robot on a trading platform and letting it to work like an ATM for you then it certainly is too good to be true. Othewise dont you think that the thousands of people who have learned about automated trading would be living from it right now? The reality is that most of these people are actually not making any income from automate trading but they are losing money trying to achieve the situation which is just "too good". However - as I implied before - this does not mean that living from automated trading is impossible, it merely signals that the way most people are following is just wrong. Living from automated trading is possible but the truth is that it will require a LOT of study, a LOT of work and MUCH more capital that what you have been told and - not surprisingly - it is not something everybody can do; it is a long journey filled with frustration and hard work which - alike most non-luck based roads towards wealth- is simply not travelled by the vast majority of people.

In my mind, I dont think that the "too good to be true" saying is intended to be discouraging, mediocre or destructive - on the contrary - I think that it is meant to be protective as it certainly points out that the roads towards wealth exist but they are not short and they are not easily travelled. In the end there is nothing special about you or about me and if the easy ways to achieve massive riches in automated trading were really a reality, we would have both achieved that goal without any effort a long time ago (and therefore it wouldnt be too good to be true either !). In reality the best thing you can do for yourself is to find out what can be realistically achieved and put all your hard work into. Forex automated trading - as I have said several times - is not a gold mine for you to avoid work and sit on a beach to drink Margaritas all day. The journey is far harsher and demanding than your average 9 to 5 job, but so is the end much more rewarding.

If you would like to learn more about my perspective in automated trading and how you too can build systems with realistic profit and risk targets which use sound trading tactics to profit from the market please consider buying my ebook on automated trading or joining Asirikuy to receive all ebook purchase benefits, weekly updates, check the live accounts I am running with several expert advisors and get in the road towards long term success in the forex market using automated trading systems. I hope you enjoyed the article !

Diposting oleh Unknown 03.46 0 komentar