8 methods to consistent profitability

[Splitlink]

Figure of speech , he hurt the bank of England .The important point is he used support and resistance levels on erm , trend and fundamental information .He did not use the garbage offered to traders.

He did not hurt the BoE by himself. At that time, I had an account with a money fund.

I asked myself "What have I got to gain by being in Stirling?" phoned up and switched to the DM. I did not have a fortune- was just using a currency account at that time so anyone trading forex must have made a killing. I was, simply, protecting the capital that I had there.

But it was so easy! This pounding of the pound ( good pun) was going on all that day and it was being held in the European snake so, until it left and floated, it was a no brainer for everyone, I should have thought. I did not need half a Viagra to see that!

 

[15 min tlb]

He did not hurt the BoE by himself. At that time, I had an account with a money fund.

I asked myself "What have I got to gain by being in Stirling?" phoned up and switched to the DM. I did not have a fortune- was just using a currency account at that time so anyone trading forex must have made a killing. I was, simply, protecting the capital that I had there.

But it was so easy! This pounding of the pound ( good pun) was going on all that day and it was being held in the European snake so, until it left and floated, it was a no brainer for everyone, I should have thought. I did not need half a Viagra to see that!

In those days you had the stochastics indicator ?It still does a damn good job today , despite several thousand new indicators.

 

[Splitlink]

In those days you had the stochastics indicator ?It still does a damn good job today , despite several thousand new indicators.

But that day was a special day. I don't think that anyone needed anything except something between their ears.. I went for a safe haven. What was better than the DM in those days?

The government was pouring reserves in to defend the currency. The snake was keeping it in place until it went and when it went, it was like lead. What was there to lose by trading GBP/DM when both were in the snake? If the GBP had been saved the exchange rate would have stayed reasonably steady and the loss to the trader would have been insurance expenses.

I don't think that a situation like that had anything to do with charts anymore than the Twin Towers attack did, in New York. They were Black Swans.

 

[15 min tlb]

But that day was a special day. I don't think that anyone needed anything except something between their ears.. I went for a safe haven. What was better than the DM in those days?

The government was pouring reserves in to defend the currency. The snake was , keeping it in place until it went and when it went, it was like lead. What was there to lose by trading GBP/DM when both were in the snake? If the GBP had been saved the exchange rate would have stayed reasonably steady and the loss to the trader would have been insurance expenses.

I don't think that a situation like that has anything to do with charts anymore than the Twin Towers attack did, in New York. They are Black Swans.

These occurrences happen regularly in the currency , but not as sudden and in as short a period of time.

 

[Predicabo]

But that day was a special day. I don't think that anyone needed anything except something between their ears..

[...]

I don't think that a situation like that had anything to do with charts anymore than the Twin Towers attack did, in New York. They were Black Swans.

Totally agree with your first point sir. Charts (and stochastics etc, LOL) would certainly have told you what had happened and I'm sure a lot of retro-cowboys showed how they used the charts to make a killing. However, to your final point, it was no black swan as was 9/11. The Treasury spending £27bn of their reserves and it having no effect was signal enough to those watching. And watching we were. There was never a more obvious route to be taken - simply hold rather than spend foreign currency reserves and let the blighter devalue. Had they done that, the reserves would have appreciated by around £2.5bn rather than suffer the loss of over £3bn in the event. Their course of action was the only surprise, not the predestined result.

 

[Splitlink]

Totally agree with your first point sir. Charts (and stochastics etc, LOL) would certainly have told you what had happened and I'm sure a lot of retro-cowboys showed how they used the charts to make a killing. However, to your final point, it was no black swan as was 9/11. The Treasury spending £27bn of their reserves and it having no effect was signal enough to those watching. And watching we were. There was never a more obvious route to be taken - simply hold rather than spend foreign currency reserves and let the blighter devalue. Had they done that, the reserves would have appreciated by around £2.5bn rather than suffer the loss of over £3bn in the event. Their course of action was the only surprise, not the predestined result.

Yes, you are absolutely right. The 1992 GBP crisis caught me with a bad back and I was at home, all day, listening to the radio. There was nothing else on, except this crisis and I got to the phone in the afternoon and switched my account before the bank closed. I was so pleased with myself the next day.! That could not be called a Black Swan. I remember the trigger that made me do it. John Major and Nigel Lawson standing on some steps, swearing to defend the currency 'til their last breath. I did not trust either of them. The pound left the snake and plunged two hours later, after the banks had closed, I believe.

 

[15 min tlb]

Totally agree with your first point sir. Charts (and stochastics etc, LOL) would certainly have told you what

There are people who know how to use indicators correctly ,there are traders using indicators for swing trading over several days , they spend two minutes looking at an indicator ,then they put their trade on.The indicator tells what they wanted to know , that is are the conditions right to enter?

If you gave a set of tools to a clueless apprentice , what will his opinion be , on how to use the tools?

 

[15 min tlb]

Traders don't fail because they can't find methods, systems, setups, book recommendations, internet forum advice or thyroid yoga bookmarks

As far as I can make out most traders fail for pretty basic reasons and these reasons don't necessarily have anything to do with trading.

Ask a random group of people to explain probability and compounding (as I'm talking probability here best if we make it a very large group ). I doubt many people would be able to make a decent job of it. That already presents the average person with a trading challenge before they start. Of course many will be unaware of this gap in their knowledge. In the words of Rumsfeld, these are the unknown unknowns - things people don't know they don't know.

Like every other career there are several core competencies required to be successful, or in this case consistently profitable over time. I expect all good traders demonstrate similar behaviours in the critical areas.

If every new trader understood probability, compounding, position sizing/money management and that a 50% loss requires a 100% profit to get back to where they started I suspect more people would find they could trade for long enough to figure out what works for them. Despite all the content and advice out there I don't think I have ever seen this laid out clearly to newcomers.

How many trading books have been written on trading probabilities ?Is there any trading book you can use practically?

 

[15 min tlb]

1)4 hour trending system ,used by most professionals
2)Trend retracement method , it is used by most professional traders
3) Intraday trendline system on 15 min
4)Key support and resistance ...used by professionals
5)Ma cross on 15 and30 min with refined low risk tight stop entries
6)High probability Breakout method based on fundamentals
7)ranging market system.
8)Scalping method based on longer time frames like 15 min , 30 min and 4 hour trendlines

There are hundreds of free systems on forums , yet 95 % lose money.Just look at them with a pinch of salt , and think before using them.They are written by amateurs , if you follow amateurs and failures , you will end up as one

Trading Systems @ Forex Factory

Another point to look at is the systems traders are using , they are the equivalent of one of the eight methods .So if u go to war with one eight of your Armour , defeat is certain.

 

[the hare]

How many trading books have been written on trading probabilities ?Is there any trading book you can use practically?

Not many
Yes

 

[15 min tlb]

Not many
Yes

After buying these books , you realize ....same all stuff you read before , nothing new ......

 

[the hare]

After buying these books , you realize ....same all stuff you read before , nothing new ......

Which books ?

There are a couple of books about probability of various chart / price action patterns, they are about as useful as a chocolate teapot.

There are a handful of books of practical value.

Reading a book on brain surgery isn't going to transform you into a surgeon. Reading a book on software development isn't going to turn you into a software engineer.

Why should reading a feckin book allow anyone to instantly make money ? (Unless its the t2w book of course, but hurry, only 89 left etc)

 

[pboyles]

Which books ?

There are a couple of books about probability of various chart / price action patterns, they are about as useful as a chocolate teapot.

There are a handful of books of practical value.

Reading a book on brain surgery isn't going to transform you into a surgeon. Reading a book on software development isn't going to turn you into a software engineer.

Why should reading a feckin book allow anyone to instantly make money ? (Unless its the t2w book of course, but hurry, only 89 left etc)

I disagree. Theres a book by a guy called McDonald that will allow you to make £1400 a month GUARANTEED and totally RISK FREE! Of course 8 hours work is involved in making the money which I know is not acceptable to most people here as they prefer just 10 minutes work a day.

 

[timsk]

Hi the hare,

Reading a book on brain surgery isn't going to transform you into a surgeon. Reading a book on software development isn't going to turn you into a software engineer.

Reading the Highway Code won't turn you into the next Louis Hamilton or Jensen Button - but I guarantee you that both of those drivers have read it.

Why should reading a feckin book allow anyone to instantly make money ? (Unless its the t2w book of course, but hurry, only 89 left etc)

It won't. However, I've never read a 'serious' trading book that suggests one can. And yes, that includes the T2W FAQ book.
But a good book or, dare I say it, T2W article or thread even, might help prevent a trader from losing money in double quick time and sow a few seeds which may enable them to make money in the fullness of time.
Tim.

 

[15 min tlb]

Which books ?



Why should reading a feckin book allow anyone to instantly make money ? (Unless its the t2w book of course, but hurry, only 89 left etc)

I could write you a book (edited grammar- my grammar is poor) on instantly making money ,on forex and futures , and you will get 65 % hit rate , and be profitable every year , with low draw downs.You would probably make 200 % a year on capital , start with 100k and compound it on a weekly basis.


Don't claim I am asking for funds , because my brother is a billionaire , just 1 phone call is all I need.Over 100 pdfs books plus 35 others in paperback , it only requires 1 book with practical instructions to be consistently profitable.

 

[15 min tlb]

Hi the hare,



It won't. However, I've never read a 'serious' trading book that suggests one can. And yes, that includes the T2W FAQ book.
But a good book or, dare I say it, T2W article or thread even, might help prevent a trader from losing money in double quick time and sow a few seeds which may enable them to make money in the fullness of time.
Tim.

Why don't you write a decent trading methods book , and save most traders a few years wasted from automation ,software , indicator crap, eas crap, signals illusion .Many people will appreciate it.Just call it save yourself years in becoming a profitable trader.

Include trading plan examples , system method plans , money management and risk management etc

 

[the hare]

Why don't you write a decent trading methods book , and save most traders a few years wasted from automation ,software , indicator crap, eas crap, signals illusion .Many people will appreciate it.Just call it save yourself years in becoming a profitable trader.

Include trading plan examples , system method plans , money management and risk management etc

Seriously, because there is NO DEMAND for such a book

I was chatting to a well known US based training provider a couple of weeks ago, and he made the comment, "the customer is always right, I give them what they want".

So there you have it, you either write a decent book and make nothing, or plagerize crap and make millions. It's a no brainier isn't it ?

 

[D70]

Hi the hare,

Reading the Highway Code won't turn you into the next Louis Hamilton or Jensen Button - but I guarantee you that both of those drivers have read it.


It won't. However, I've never read a 'serious' trading book that suggests one can. And yes, that includes the T2W FAQ book.
But a good book or, dare I say it, T2W article or thread even, might help prevent a trader from losing money in double quick time and sow a few seeds which may enable them to make money in the fullness of time.
Tim.

You really think Lewis Hamilton and Jenson Button have read the Highway Code??

 

[D70]

I could write you a book (edited grammar- my grammar is poor) on instantly making money ,on forex and futures , and you will get 65 % hit rate , and be profitable every year , with low draw downs.You would probably make 200 % a year on capital , start with 100k and compound it on a weekly basis.


Don't claim I am asking for funds , because my brother is a billionaire , just 1 phone call is all I need.Over 100 pdfs books plus 35 others in paperback , it only requires 1 book with practical instructions to be consistently profitable.

My bull-****-o-meter is off the scale when you post 15min tlb dt vb ed.
Could you please refrain until you know what you are talking about.
It's like listening to a 4 year old describe why the sky is blue.

 

[15 min tlb]

My bull-****-o-meter is off the scale when you post 15min tlb dt vb ed.
Could you please refrain until you know what you are talking about.
It's like listening to a 4 year old describe why the sky is blue.

One day you will chew your own words , when you realize Sorros2 was on t2w .Don't underestimate anyone .