Do you know your pattern well. Part 4. The final one.

FX:CADJPY   Canadian Dollar / Japanese Yen
Read the message on the chart carefully, mates. This information will help you to save lots of time, efforts and money. I you are new to these series then check the related ideas links to read the beginning.
Comment: If you want to get some more tip about my trading style then join my facebook group
Do you have an account that is conected to...say...myfxbook, to see your performance? It would help to decide a lot... :)
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No. I do not tell my account info to any outside services. Even If I had, I don't think it might somehow help you to decide. I've seen many fake accounts on myfxbook... What will help you to decide is real time monitoring of my performance via Daily Recap for this group members
sketchmaster PRO Alexander_Nikitin
ok, thanks
You are welcome to join the group)
Nice piece of advice. Here is a more important one. Choose carefully your mentor. Ask for win/loss ratios success rate, proof of success thru a history of a live trading account. Pseudo mentors are a dime a dozen and anybody can decide to market anything, an aspiring trader has to be a sophisticated consumer and discern hype from facts. One quick way to filter out wannabe mentors is to look at their play buttons to all their trades and get a feel of how accurate is the mentor in their endeavor. The more trades there are the better feel you get about the potential mentor. And.....that's just the first step of the raw and rough selection phase.

Thanks Alexander for raising all these raised awareness to half of the situation.
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I know some extremely good teachers that are not very good traders))). And also I know some extremely good traders that cannot explain how they do what they are doing.
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ananora23 PRO Alexander_Nikitin
Very true! Even more reason to choose wisely. So one has to be aware of who they trust their time, money and effort with!!!
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In all honesty the trading itself doesn't have to be complicated, it's not about recognizing 100's of patterns. It's doing one thing in a simple way consistently. The major aspect imo is psychology, that's where the consistency part comes into play. So your examples of 10 years of study are slightly exaggerated ;)
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Finding thousands of examples is not trading. It is a preparation to trading. Trading itself is very simple when the preparation is done. It is true that the major part of trading is psychology. But how do you aquire it? Can you stay disciplined and do the same thing over and over if you do not have a 100% belief in your pattern? You need to have a very profound knowledge of your pattern to trust. Otherwise you will enevitably self-sabotage yourself. Just remember how many time you hesitated to take a trade after a series of losses? Looking for additional confirmation, confluence, expert advise, news... And how many times you jumped into a trade too early because you have missed some winning opportunities before? Our past experience dictates our present perception. Only having 100% confidence you can withstand.
By the way. It takes 10 years of study if you only do 2-3 hours of a backtesting/research on WEEKENDS only. If you can sacrifice your time to be fully absorbed with the research, working 10 hours a day without stop the you can finish it within 6 months. I said it above.
P.S. read the previous editions more carefully and attentively to grasp the whole idea of the series.
Cheers. Have a nice day.
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