Think Like A Trader Blog

Wednesday, 26 October 2016

NEW Feature - Blog Posts From Beginner Traders - The T Model Trader

Today we continue on with the new blog feature, whereby I hand the proverbial mic over to beginner traders and let them share their experiences. Rather than having me simply post every week, I thought this would be a good way to let you see that as you strike out on your own trading journey, there are also others walking the same path.

Trading can be a very solitary endeavour and especially when times are tough, the disquieting voice can often chirp up and whisper 'you can't do this,' or 'just give up.' I hope these blog posts help you, even if only in a small way, to continue to strive toward your trading goals.

This week we introduce the second trader who will be contributing to the posts. Due to a wish for a certain level of anonymity, this trader has styled himself as the T-Model Trader.

I hope you enjoy the post and I hope you've all had a great trading week!

T-Model Trader Blog Post 1

It is not my intention to offer technical support here as I am in all honesty, not the person you want to listen too in this regard. Every day, as a subscriber to Decisive Trading (DT), James offers up a wonderful platter of technical appraisals and insights, so I will leave this area well alone. I will instead set off by dusting down the trading journal at chapter 1 and speak about the enormity of facing that vertical wall to ascend where I could potentially say… “I am a trader”, with all the connotations of success that go with it. Am I at that point yet? Well, no. There is still some distance to go.
I do not want to just produce articles about trading either and talk about the hottest pin bars (or the like) in the latest hip zones to be seen at, nor a “you should have seen the set up on this chart….woo” sort of thing. And given that my “curly toped galactic black hole star bar” global trading system is still a few light years away from being perfected and released publicly, I am hoping, this might also give you some indication as to where my technical prowess may take you!
I will introduce myself as a “progressing beginner trader”. This offers up the acknowledgement that much has taken place in my learning this year, whilst still bowing humbly to the fact that there is far to go in my development. I have at times quietly paused with a growing sense of joy upon the realization that I have indeed shown signs of evolving as that trader. Yet, unfortunately, that pause can often feel like the precarious balance upon a thin white line separating the motoring mayhem during an ill- timed road crossing. If I can get to Xmas without being run over, I believe that I will have done well for the year, albeit bruised, but certainly a tad wizened.
It is thou, truly wonderful to say that I have experienced the delights of having strung together winning trades. So very cool indeed. But before my trading modesty begins to slip inappropriately and reveal a touch too much bravado, I also know the feelings of despair regarding the dusky clouds of dud trades. For many reasons, I have gathered way too many entries on the now heavily laden loss column of the ledger. However, in these 9 months, the machinations of the DT methodology have slowly begun to make greater sense to me. I do ask you here, to seriously note the significance of the word “slowly” and the use of the “present tense” in that last sentence. Maybe I could call myself the T-model trader, a slow horse indeed.
Given my work in the past as a counseling therapist, I am now seeking to turn the spotlight back upon myself here and do a bit of digging and a spot of probing. Just as my complete lack of hand eye (or eye foot) co-ordination left me as the perennial drinks carrier at sporting events, I feel trading must have a close genetic resemblance to that of bat and ball, as it seems every bit as challenging.  What I allude to, is that parts of my trading haven’t been a dream journey.
As I am southern hemisphere based, trading the Ftse 100 is for me an evening affair. When I turn off the computer at night from trading, it is usually to head to bed and sleep. I would willingly take a polygraph, confessing to you the truth when I say that I have taken much trading trauma into that sleep and continued to trade well into the realm of the mythical with candle stick nightmares, where the demons of the dud trades have returned for a second bite. It can be hellish I tell you.
I also have a background in what I call “creative construction” as I have been a sculptor, designer and artist. There is a connection between these two lines of work and will delve into this over the course of these blogs, illustrating how my previous experiences and work have had bearing upon my trading.
What I didn’t realize at the time was how confronting trading would be for me. There is something about it that has challenged me to the core week after week. I have surged forth, recoiled back, zig-zagged one way then the other, tumbled, rolled, wept and sat staring blankly at times out the window wanting to be a cloud on a windy day and just disappear over that trading horizon.
I once heard the description called a “crocodile trader”. It is about having the patience and skill to set up a trade as the croc does in a hunt for food. I kind of get that. I like the analogy too. However, for much of this year all I could see was me being taken as easy prey by the crushing jaws of the market and put into a death roll. The crocs, I am sure, all had a good giggle when they saw me dipping my toes into the charts. Somehow I don’t think that was the underlying intention of the meaning.
As I have a large thick tatty eared trading journal to trawl through by my side as a write, I hope to condense all big black arrows pointing to big black capital letter words, much of which is seriously unfit for publication, into a coherent review of what has occurred this year. I have several important trading experiences that I want to speak about over the series of this blog. I am sure that I won’t be the first or last to have had these “trading woes”, so in blog 2, I will start to tuck into and clarify the main issues that have been my trusty (or should that be crusty) trading companions this year.

So, as I sit here finishing up this introduction to the opening blog, an intense weather front has blown in from the expanses of the southern ocean bring driving rain and winds. This has got me thinking as to where the readers of this blog might be living in the world. For us south of the planetary waist line, it is soon time to get out the swimmers and prepare for the heat that will surely come our way. For those of you in the DT community, north of the equatorial bulge, I am picturing that you are out chopping wood, finishing off the harvest and preparing to bring the livestock into the barn for the arduous winter ahead (ok…I fess up to having watched way too many seriously stereotyped and homely movies as a kid). And for those of you in between….well… doubt that you are watching the market, swinging in your  hammock whilst the tropical breeze gently drifts on by (lots of South Pacific movies too)
So, from the urban tree tops of some great city to the countryside and everything in between on this planet where you may reside, I wish you well and a successful journey in your trading development.
I also want to acknowledge James, in creating this community and education and for all the effort that he has made in assisting me from falling off the edge of the trading world into whatever it was that was supposed to be over that brink  (the mythical remains of many dud trades no doubt).
Till next time….
The T-model Trader (I just had to use it).

Sunday, 23 October 2016

Forex Price Analysis Aud Usd For The Trading Week Ahead 23rd October

In this price action analysis video we again look at the price squeeze on the daily timeframe. I take you through the areas to watch moving forward.

Price Action Analysis For Trading Week Ahead Ftse 100 23rd October

In this weeks price action analysis we look at what I am considering the pivot point in the current price action. We also go over the main trading areas to watch for clues as to where this market is heading next.

Friday, 21 October 2016

Live Price Action Trade 5 Minute Timeframe FTSE 100 - Zone Trader 20th October

The latest live trade using the Zone Trader methods. This trade is from the 20th of October before the ECB rate decision.

Forex Pair Aud Usd Pre Market Analysis and Subsequent Trading Opportunities 20th October

In this Forex review video for the Aud Usd pair we look at the key zones in the market. We have seen a false break on sloping support and I identify the likely next bearish move for the market. The video then takes you through potential Zone Tarder setups for the day.

New Feedback - Consistency Follows on From The Hard Work

Some nice feedback received yesterday from a Zone Trader. It really just shows that if you're willing to put in the work and stick to it, the rewards will follow. 
''Hi James
Just took the 14:15 Piercing pattern, targeting the MA200 and it worked a treat!!
I marked the zone in as a key zone using the green arrows just like you do in the mornings. There were a lot of sell signals but resisted based on your morning advise.
The morning subscription service is amazing!! Keep up the good work.
I’ve doubled my initial trading investment since February using zone trader.
I hope that one day I can shake your hand in person and buy you a drink!!!
Michael Hurst''

Thursday, 20 October 2016

NEW Feature - Beginner Trader Voices - Blog Post 1 by Craig Sanders

 Hello Traders.

Today we start a new feature. Two beginner traders will be posting blog posts to The posts will be completely unedited by me and will allow you to step into the mind of a beginner trader. You can see the ups and the downs, the mindset and the goals they set themselves as they move forward. Hopefully it will also let you see that you are not alone in what you are doing and trying to achieve - trading can be a lonely business and I hope these blog posts will shine a light on what it is that you are striving for and help you along the way.

Our first post is from Craig Sanders. He will be a regular contributor to the blog, as will 'blogger two', who will be introduced next wee.

Below is Craig's first post and introduction (I think we can all agree that he suits the hat!)

I hope you have all had a great trading week!

James Orr

Blog Post 1 - Craig Sanders

Hi guys, my names Craig Sanders, I'm 31 years old, originally from the Midlands in England and have been residing in Australia for the past 7 years.

Originally back in 2009 i arrived in Australia on a 1 way ticket with the mindset of attempting to be a carefree backpacker with an unknown view of what to expect for the year to come.

I managed to travel around for several months doing all 'backpacker' type things, like  party, live a care free attitude and much much more. Then 1 day reality hit me in the face early one morning whilst waking up from yet "another heavy night out" in a filthy hostel in the city of Brisbane, in eastern Australia. The hangover, from what I recall was so sickening painful that I recall being laid in my bottom bunk reminiscing about what i should really be doing in life or will eventually go on to do, as I knew at that point that i no longer wanted to carry on living life on the edge and feeling this way on a daily basis.

That following lunchtime I remember checking my bank balance and seeing I had $45.00 left to my name. Here I am, an english guy on the other side of the world in a city I hardly knew my way around and feeling terrible yet sorry for myself from "another" chosen heavy night with the added realty check whilst standing in the stinking hot sun with a $45.00 digital balance staring me smack in the face. "Craig, what are you going to do"  It was at this point id decided get my act together and begin to search for some form of employment and seek some "normality" again as I knew it. (Get a job, save money, survive).

Dropping out of the travelling scene and finally securing employment after several months of being in Australia seemed to give me some sense of identity back to which I remember from my life in the UK. Get a job, work hard, save, repeat.

From that point on up until 2016 I had worked for 2 Mining companies in the outback of Australia on business sponsorship agreements which enabled me to earn a salary better than id ever been exposed to before in the UK and also the opportunity to choose anywhere I wished to live on the eastern side of the country due to the nature of my job.

In a period of a 1-2 years in the above position, I had pulled my finger out and saved extremely hard most of my income in order to buy some rental properties back home in the UK and take care of my own pension at the same time. I figured this was a smart thing to do at the age of 27 years old and remember to this day thinking "ahh ill enjoy myself after thats achieved" return to work and not worry about the future .... little did i know then, until of course afterwards that it would give me the drive and hunger to seek bigger and better goals once this had been accomplished!

fast forwarding .............................................................

Back in Oct 2015 - last year, I was on a domestic flight back out to the desert in the middle of Australia on my way to start my roster with work again, yay not!
Whilst sat beside a work college at the time who happened to be sat working different percentages out on his iPhone calculator in the seat next to me. I remember asking him what it was he was working out and winding him up about his age and retirement. Little did i expect for him to turn to me and say he was working out where to take his family on holiday with the profits he had gained from his trading account.

(This is the point ill always remember the "alarm bells" going off inside my head and where my curiosity & introduction to trading finally started.)

I guess my initial interest was in property investing and always wanting to be and do better in life than just work, sleep, work sleep. This type of mindset I believe is what lead me to the initial interest in trading and once introduced as I learned I thoroughly enjoyed it, what was involved and the opportunities it could potentially create for myself.

Initially when I began trading and actually started understanding it in more detail, I had the instant image in my head of how nice it would feel if it were possible to gain a secondary income of any value at all and then to add that to my primary work income and compound my overall earnings. Then this would of course allow me to either save more for investments, in turn making it a faster turn around and having the cashflow for when an opportunity arises or begin to plant some roots down in Australia and finally buy a home to live in myself with a lot more ease.

My current aim within this next year is to continue with reaching my goal I set 'daily' which is "to be a consistently profitable trader".  No matter how small this profitability is, as long as its consistent and continues this way then I'm content for now and will continue to keep learning and progressing forwards.

My hope in the near future around year 2-3 of my trading journey would be to be well on my way of striving forward and growing my trading account and hopefully being able to withdraw a small enough income whilst also continuing to grow my knowledge, skills and of course account at the same time.
As time does progress and the years slowly pass by my overall aim is to be continually improving my trading. This meaning, rectifying any errors I make that could have been avoided and always working on turning any error into a consistent rectification moving forward. By year 5 I desire to be well on my way with trading success and for that ultimate moment of being able to acknowledge and say "I am a full time professional Trader" with that silent grin inside :)

Wednesday, 19 October 2016

Forex Live Price Action Trade Aud Usd 5 Minute Timeframe 18th October

The latest live trade using the Zone Trader methods. This price action trade is on the Aud Usd Forex pair.

Pre Market Ftse 100 Price Action Review + Subsequent Opportunities 18th October

In this Ftse review video we look at the market before the 8am open. I take you through the key areas I am watching for the day, those that line up with my trading plan. At the end of the trading day we then break down the ftse 100 and look at what price action is suggesting moving forward.

Wednesday Quote Hour

This weeks dose of inspiration.

Tuesday, 11 October 2016

Aud Usd Forex Pair Approaching Identified Levels

Forex pair Aud Usd is now fast approaching key support levels identified as likely market target in the Sunday analysis video.

Friday, 7 October 2016

This morning's analysis

Key zones identified in this morning's subscriber analysis for the FTSE 100:

Bullish - 6994 to 7016
Bearish - 7065 to 7083

A great way to go into the weekend. Happy Trading!

Thursday, 6 October 2016

It's not always about the charts. Nothing like a good ride on a sunny evening.

Roadblock Ahead!

 Reading Time - 4 Minutes

Roadblocks. We all face them. You can be chugging along, thinking everything is fine and dandy, ‘boy, I sure am making good time!’ and then along comes another hurdle.

I thought it would be fun to share my most recent, in the hope that if you’re facing your own, you can smile (in that knowing way) and keep right on through it, or take the necessary diversion to get around it.

Before we have a look at my most recent, let me lay out some of what I have been working on so you can see the full schedule that didn’t leave a lot of scope for a roadblock!

-       I am hard at work on my Swing Trading methods. This involves countless hours at the charts and is a lot of work – although I enjoy it, so the time isn’t an issue for me.

-       Working with subscribers, making sure they have all the relevant information each morning to set them up for success in the markets. This involves very early mornings setting everything up, but again, I love it.

-       Working on the new stop for Zone Trader. This is very near to completion also. The stop is the one part of my trading that I brought over from something I was taught as a beginner. The stop is effective, but I have never been fully happy with it. I always thought there was a better option out there, and so I set about doing what I always do… figuring it out myself. The stop is intended to increase overall profitability by making a simple change.

-       I have recently had the Decisive Trading website updated so that it includes all of the relevant information and is an easy to navigate space for beginners to find whatever they need. There are still additional aspects being added, and I am in close contact with the designers regarding this.

-       Lots of talking regarding seminars. I have been asked about potentially speaking at a couple of events, so the logistics of this is being discussed through what seems like an infinite number of emails!

-       Adding the AUDUSD to the review videos on YouTube as well as to the subscription service.

-       Regular testing of methods. I do this on a full time basis. I am always testing new methods and I do this through live trading. Basically I use the IG account as a means to test things. I find that trading live gives a much better insight into things than simply paper trading or backtesting. What I do is trade the new theories or methods as I think about and implement them. As the IG account begins to drop down, I start taking Zone Trader trades (at a higher £ per point) to build it back up so I can start all over again.

-       Small account trading. This has been part of the YouTube channel and something I have been running with for a number of months.

-       Actual, normal trading! Yes, at heart I am a trader and I do trade full time. This is my main passion and where it all began. I love it and wouldn’t change anything about it for the world.

-       Living some sort of a life outside of work! But alas, where is the time for such unnecessary things?

Ok, so that’s about sums up what I am doing and working on.  So where is the roadblock?

We can put the EU and my hosting website next to each other for this one.

Basically, the EU has implemented a law whereby VAT is automatically collected for any and all online content sales for anyone living in the EU. That is fair enough, and I have no power over it so I simply accept it. My simple solution is to cut the price of courses by the same 20% as the VAT, so effectively Decisive Trading is swallowing the extra tax. 

The new regulations have recently been rolled out and added to the hosting website…

The only issue is, their implementation of this, and contact with me in regard to it has been an absolute shambles. Couple to the situation that it is very difficult to get in touch with them (likely because they are receiving lots of complaints!) and I have my nice, large roadblock.

So what do we do when we find these roadblocks in our path? Flap and panic and get royally p**sed off? Well, sure, that’s allowed. Go ahead and have a good old fashioned rage. I certainly did. But then after that, you need to find your path around it.

For me that is going to involve a heck of a lot of work. I will need to cutback on some of the things I already do to accommodate this. It is simply the way it is.

How do you do that?

You need to prioritise.  Slide some things out of the way so you can see the light. For me that means I will need to shelve a few things:

Seminar discussions will need to wait. The regular testing of methods will need to go on hold. Small account trading will need to be shelved. 

Now I should point out that writing that down was easy. But cutting them wasn't so easy. I spent a long time deliberating over it. In the end what I decided to do was prioritise what was important to both me and subscribers and worked around it that way. Anything else could be put on hold.
Life likes to throw us all curveballs at the least expected times. Feel free to share your most recent ones. For now, I’m off for a trader’s best friend at times like these… a coffee!

I hope you’ve all had a great trading week!

James Orr

Monday, 3 October 2016

Monday Club Trade

Subscriber morning analysis - ''Key levels are at R1 today and I do expect the ftse to make an attempt to get up there.''

This morning we then seen a very large bullish spike up at the open. Exit for a cool 1:1 RR and finished work for the day by 8:12am. I love the Monday Club!