Shocking final Webinar reveals correlation's Performance

With less than 100 copies left and time running out on the option to become a Correlation Code Owner, Jason thought he'd hold one final webinar this Thursday to REALLY show you what you will be test driving.

The feedback from the brand new owners has been some of the best he's ever seen for ANY trading system he's ever developed (it's really quite astounding and he will be sharing some of it with you in the webinar.)

Link

So:

If you aren't averaging 455 pips / month in under 15 minutes per day (and that's NOT EVEN his scalping trades!)...

If you are not pulling the trigger on ALL of your trades with "absolute" confidence...

If you are not taking your trades with 'laser like" accuracy...

You need to drop by for your final chance to see the Correlation Code in action, before they SLAM their doors shut for good.

Oh, and one more thing, this webinar will be different than the last, because he will be focusing more on the actual performance of the system.

He'll be showing you his "1-2 Stack" system which explains exactly how he "stacks" different trades on top of each other to "Supercharge" his performance (remember some of his trades are over 90% accurate).

Link


PS: Jason has just recorded a new video where he shows you some recent performance with his "Follow The Leader" trade that just might make you a "tad" jealous...

As soon as you register for the webinar you will be redirected to the video, so make sure to enter your email, even if you can't make it, at least that way you'll get to see his latest correlation trades.

Official Launch of FXTE Program in Singapore

Today marks the beginning of Quarter 2 of 2009. The fact is we are all excited about the official launch of FXTE Program in Singapore. FXTE is a US educational institution providing forex trading education worldwide via physical seminars and online courses.

On 25 and 26 April 2009, FXTE's Forex Trading Essential Course will be offered for the first time in Singapore at Furama City Center. Two of our FXTE instructors, Jimmy Young and Steve Nurre, will be flying 10,000 miles to the Lion City to teach this course.

What you will learn in these 2-days are

1. How the SIMPLICITY of the FX market removes the clutter often found in the stock and options markets and allows you to focus on the most important thing - MAKING MONEY!

2. That the FOREX can be traded 24 hours a day, 5.5 days per week so you can always find a time to trade - even with your busy schedule. (see - we are very honest - we know what we are talking about. Who said FX is 24 by "7"?)

3. The simple approach to trading Forex - created by a 20 year bank trader for people just like you, that can INCREASE your PROFIT potential by changing how you view the news.

4. How Forex can provide all the upside of trading the equity markets but with LESS RISK.

For further details, click this link - FXTE 2-day class

The course is being offered for only SGD188.00. There is no typo. It's really SGD188.00. You will get 2 full days of forex education. For those who want to gain exposure to the forex market for the first time, or want to learn more how to trade forex, this is a golden opportunity that you should not miss.

100 Points
by Boris Schlossberg and Kathy Lien of GFT Forex

"You guys suck," is refrain I hear often."100 points a month?! I could do that in my sleep. You should be doing 100 points a week at minimum!" Well, I try to point out we the game is a lot more difficult than you think, but the critics do not want to hear it. They proceed to tell me all about their marvelous trading exploits showing me how they just picked a turn to within a pip of the bottom and then went on to bank a thousand points in the trade as they "let the profits run."

My favorite of these demo billionaires was guy who used to write to me with the sole purpose of telling me how stupid our latest trade idea was and how trading was so easy that he was making thousands of pips week. I finally relented and asked him top show me his "portfolio of trades." The guy proudly wrote back that he was was long a wide variety of pairs such as EUR/JPY, AUD/JPY, GBP/JPY and NZD/JPY. I did not have the heart to tell him that this was the same trade levered four times the maximum risk he should have been taking. A few months after that conversation the carry trade collapsed and I never heard from him again. Another trading master of the universe relegated to the dustbin of market history.

They say that you should never watch how sausage or politics are made. To that old adage I would also add investment returns. Since most people only look at year end numbers they are convinced that trading returns accrue with the consistency of a weekly paycheck rising in a straight 45 degree angle towards ultimate wealth. Nothing of course is further from the truth. Take a close look at the audited records of any hedge fund and in fact you will see many months of losses punctuated by a few months of gains, that hopefully eke out to a net positive number at the end of the year.

Investment returns are notoriously lumpy not only on a month over month basis but even on year over year basis. Witness the two of the very best hedge funds in business -Citadel and SAC - posting double digit losses this year. Someone the other day reminded me that despite George Soros vaunted $1 Billion win in the GBP/USD in the early 1990's, a few years later he managed to lose $600M in the yen trade not once but twice in the same year. Everyone remembers the wins but forgets the losses.

One of the nice side benefits for those of you who trade with us at BK is that you get to see how investment returns are actually made on trade by trade basis in real time. As many of you can attest it is hardly a glamorous affair. The reason why trading can be so trying is that you are always operating in an environment of complete uncertainty. You can fail by making a bad trade selection (something that we all fall victim to far more than any of us care to admit) but you can also fail even when all of your analytics are absolutely correct.

K has a marvelously understated term for it. She call it market activity. Market activity can encompass anything from some large player dumping a yard worth currency during the illiquid early Asian session irrespective of price as he hurries to leave the office for tryst with his mistress, to some political official making an offhand remark (see Timmy Geithner) that gets spattered on the Bloomberg terminal a second later. All of this "market activity" can wreck havoc with your best laid plans stopping you out before your trading thesis has a chance to play out.

That's why 100 points a month is not bad at all. 100 points a month is 12% per year. Drop $20,000 into your retirement account each year and compound it at 12% and after 20 years you have 1.8M. After 30 years you have 6M. That's hardly a plan to becoming a baller overnight, but that's how real money gets made.

Official Launch of FXTE Program in Singapore

Today marks the beginning of Quarter 2 of 2009. The fact is we are all excited about the official launch of FXTE Program in Singapore. FXTE is a US educational institution providing forex trading education worldwide via physical seminars and online courses.

On 25 and 26 April 2009, FXTE's Forex Trading Essential Course will be offered for the first time in Singapore at Furama City Center. Two of our FXTE instructors, Jimmy Young and Steve Nurre, will be flying 10,000 miles to the Lion City to teach this course.

What you will learn in these 2-days are

1. How the SIMPLICITY of the FX market removes the clutter often found in the stock and options markets and allows you to focus on the most important thing - MAKING MONEY!

2. That the FOREX can be traded 24 hours a day, 5.5 days per week so you can always find a time to trade - even with your busy schedule. (see - we are very honest - we know what we are talking about. Who said FX is 24 by "7"?)

3. The simple approach to trading Forex - created by a 20 year bank trader for people just like you, that can INCREASE your PROFIT potential by changing how you view the news.

4. How Forex can provide all the upside of trading the equity markets but with LESS RISK.

For further details, click this link - FXTE 2-day class

The course is being offered for only SGD188.00. There is no typo. It's really SGD188.00. You will get 2 full days of forex education. For those who want to gain exposure to the forex market for the first time, or want to learn more how to trade forex, this is a golden opportunity that you should not miss.

Fast and Furious Trading

In this week BKT Weeks Video, Boris Schlossberg continued his discussion on the 10 pips strategy. This link (Fast and Furious Trading) will direct you to his YouTube video.

His rules are as follows:

1. Look at 5 min charts - on EUR/USD and USD/JPY
2. Sell 2nd candle close above 2nd SD Band (for Sell Trades) or close below 2nd SD Band (for Buy Trades). Exception is 00 and 05 level.
3. Trade on all sessions using EUR and JPY
4. 10 pips stop; 7 pip limit

There are some interesting observations:

1. Boris stressed that this is not a strategy that can be automated. So, he believes that if someone designs an EA on this strategy, it will fail as there is discretion as to whether the rules should be implemented.

2. This is not a Holy Grail. There will be losing trades. I have personally observed the strategy and interestingly, it is more likely than not making money.

3. In this version, Boris did not cover the use of GBP/USD although in his video last week, he said GBP/USD may be incorporated into this system to improve the equty curve of the entire system.

Winning by Losing
by Kathy Lien and Boris Schlossberg of GFT Forex

"The key to succeeding in trading is to lose well. It doesn't matter if you are a die hard fundamentalist who thinks that chart reading is akin to astrology or an unrepentant technician who thinks that all news flow has less value than celebrity gossip. Every great trader I ever met knew how to control risk which is simply a polite way of saying that they knew how to take losses.

Of course losing is not what every newbie trader focuses on. Everybody wants to win big. Everybody approaches trading as though it was a lottery not a business. I am always amused by new traders who email me for the next 10 point trade and the next one and the next one after that thinking that the FX market is like a massive ATM machine. Those traders usually have a shorter shelf life than a half eaten apple.

On the other hand, traders that approach the market with a much more cautious attitude tend to do better. They soon learn that in trading losing is the only variable that you can control. Winning is frequently a function of luck, but losing is always a matter of skill.

Everybody hates stops. What's even worse is to be stopped two, three, four times in a row. In a debate between tight stops and wide stops I used to always hear "You don't want to die a death of a thousand cuts!" Well actually I do. After years of trading I came to the conclusion that tight stops will keep me in the game. I may be bloodied, I may be hobbled but I will remain alive to trade another day. In a choice between taking many small measured stops versus a few very large ones I will always choose the former because large stops can frequently turn into catastrophic losses, and much as it is unpleasant to lose money, it is always easier to recoup a series of small losses rather several huge ones.

Recouping is what trading is actually all about. Everybody who begins trading envisions an ever climbing equity curve that builds with the consistency of a weekly paycheck. Nothing can be further from the truth. In reality trading is always the act of giving money back to the market and then trying to claw it back.

Trading is tough precisely because it is so brutal. Unlike a job that pays us even if we are sick or distracted or simply not in the mood to do our best, trading promises you nothing. You lose, you don't eat. That's why I have such enormous respect for those traders who make their living solely from the market. They are the gladiators of modern finance and the ones that survive always know how to take a stop. The rest of us must learn those skills.

The need to build wealth through trading is greater now than at any time in the past 50 years. Does anyone who is 40 or younger believe that Social Security will pay them anything? How about your decimated 401K plans that are likely to range trade for the next 10 years as stocks cycle much like they did in the 1970's? Bonds? Good luck trying to fund your retirement with 2% yields.

Bottom line is that in the next decade trading may be the only avenue left to build wealth with your savings. That's why it is more important than ever to master key principle of the game - in order to win in trading you must learn how to lose properly."

What a timely reminder to many aspiring traders who think that traders have easy life and trading is as simple as ABC. Also, this article serves to reiterate that professional traders approach trading in a completely different way compared with amateurs. Professional traders always deal with the risks and profit target is the second. In this case of Kathy and Boris, they always talk about hitting T1 and move the stop to breakeven, and let the remaining lots do what they are supposed to do. They make they make. They don't make, it's fine. At least risk has been removed after hitting T1.

That's why I subscribed to their mode of trading completely, and it makes perfect sense to me. So, if one feels that forex is an ATM machine, and he can learn the tricks by attending courses but no practices after that, he may wish to spend to money to buy me kopi instead.