I want to thank all that donated during 2008. I appreciate your support. Many traders made suggestions for new indicators and enhancements to old ones and we all benefited. At last count, I sent out over 340 indicators to those who donated. If you donated $50, that means you received each indicator for about 15 cents, That's not a bad deal at all!!

The slate will be wiped clean for 2009. Also, in 2009 I will be upping my game. I am no longer an MT4 "rookie". The 2009 indicators will have HELP and NOTES built in. I will be working on some other features like dragging to position the indicator on the chart.

I'll be changing many indicators to use these feature in 2009. If you want to start receiving the 2009 indicators, send a donation to my PayPal account with subject "2009 donation" and you'll be in the 2009 Thank You List.

Thanks again.

A baseball coach teaches his players the basics of hitting.

Some will hit better than others. Some won't hit at all.

Is it the coach's fault that some can't hit?

Some hitters will succeed against certain pitchers and fail against others.

Some hitters will have streaks and some will have slumps.

Some hitters will knock the ball out of the park regularly and some will rarely hit a home run.

Some hitters will swing at just about every pitch and some will be more selective.

No hitter bats a thousand over the course of their career.

Most hitters get a hit about 2 to 3 times out of 10 at bats.

So what does this have to do with trading?

1. It's up to YOU and not the coach.
2. There may be some things you can't trade well and some that you can.
3. It's up to you to decide what to trade and when to trade.
4. You don't have to be greedy and try to make a killing on each trade.
   
5. You do not have to win every trade to be successful.

PLAY BALL!!

WAIT.

Since trading is about waiting, one must learn to wait.

A rule of thumb regarding waiting:

Look at the time it took PRICE to make its last HIGH and LOW swing. Wait that long before you enter a second trade in the same direction.

Example:

Assume one minute (M1) chart.

You enter long off a low. You exit for a profit but PRICE keeps going up. Price reverses back down. It took price 17 minutes to make the swing from low to high. You must wait at least 17 minutes BEFORE you enter long again.

You will miss some winning moves but you will also miss some losers.

This rule of thumb helps prevent OVER TRADING!

How much do you have to make in a day before you call it quits?

Over trading is a costly mistake.

All it takes is one or two profitable trades a day or week to have a nice profit.

HOW MUCH IS ENOUGH?

Slapfish

"My best understanding of the basic premise of TRO's methods is that I am supposed to trade based on what the price is doing right now, not what I think it might do next. His indicators give me various points to enter a current movement and be statistically confident I will gain 5+ pips.

I thought I was doing it right when last week i had an epiphany. I was sitting there waiting for the price to drop back down so I could get in on a retrace because I had missed the original entry. I was waiting, waiting, waiting..... the next think I knew, I'd missed THREE buy zone entries that could have netted me 20+ pips. What was I doing? I had my mind locked on the trade I wanted (on the past) and I missed the ones right in front of me!

That's why he boils it down to "seeing". You see what is in front of you instead of predicting (or trying to). If you look outside and SEE that it's raining, do you grab an umbrella on your way out? or do you think "it will be sunny later I better use sunblock"?"

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Way to go, SLAPFISH!

A++

The majority of trading gurus say that the EXIT is more important than the entry.

I DISAGREE!

I focus on finding entries that STATISTICALLY give me a better than 50/50 chance of having an opportunity to take profit. Notice how I worded that last sentence. It was written that way on purpose.

I get asked about SL and TP all the time. Some people get downright nasty and harshly criticize me because I don't conform to what they believe to be proper. To me, SL and TP are part of the individual trader's money management and risk management strategies and have NOTHING to do with my entry triggers.

It does not matter why you entered a trade once you are in it. Nor does it matter what your indicators say. PRICE is the ONLY thing that matters once you enter a trade. And after you enter a trade is when your money management scheme kicks in. You will either exit the trade with a profit or a loss. How much of a profit is determined by the market and your greed. How much of a loss is determined by you. It is up to the individual trader to decide when to say "when".