Intuition Master

[fxmarkets]

“Guess and click” could apply to any method of trading. What’s a trading system doing? Ultimately, unless it’s wired up to a crystal ball, it’s guessing! Those guesses might be informed by a set of rules, but they’re not going to be correct anywhere near 100% of the time, since financial theorists have found that markets follow something roughly approaching a random walk.



Since you have not yet taken the course, and other readers of this discussion may not have done so, I would like to give people the opportunity to base their judgement on a fuller version of the system than the free trial allows.

I will therefore send a voucher code, redeemable for a full module, to the first five Trade2Win forum readers who email me at [email protected] , in exchange for your constructive feedback.

Ian Howlett
CEO, Faculty of Trading Ltd.
www.facultyoftrading.com

hmmm no doubt this blinkered view is obtained due to poor concentration , but again if Stephan Bisse is a "top end of knowledge" pro trader then he would know it aint random walks best served with a trading policy of guess n click and toss in the use of stochastics and the like . Why not educate traders by the use of teaching them Professional Speculation Theory then move on to develop intuition through extensive and continual practice, no guessing involved , and to be honest thats what I would expect from a top end knowledgeable Pro trader .


Agin thanks for your time , no doubt you'll obtain constructive feedback from other members with your offer.

Cheers Ian.

fx.

 

[rols]

hmmm no doubt this blinkered view is obtained due to poor concentration , but again if Stephan Bisse is a "top end of knowledge" pro trader then he would know it aint random walks best served with a trading policy of guess n click and toss in the use of stochastics and the like . Why not educate traders by the use of teaching them Professional Speculation Theory then move on to develop intuition through extensive and continual practice, no guessing involved , and to be honest thats what I would expect from a top end knowledgeable Pro trader .


Agin thanks for your time , no doubt you'll obtain constructive feedback from other members with your offer.

Cheers Ian.

fx.

FX thanx for the inquisition. I feel some responsibility for drawing attention to the site - there again, call your site Intuition Master and you've setting up for a grilling.

My initial thoughts are that you can't teach somebody to walk over hot coals by asking them to
take their shoes and socks off and walk around the garden.

The thing is that they have found a niche in the market of wannabe traders but I reckon could have done it much better. There are sooo many aspects to the mind thing that you could have people doing multiple modules from meditation to astral projection.

When George Souros makes his investment decisions his back quite literally goes into a spasm. And he's done OK I believe...

I think Ian comes over sincerely and we should give him the benefit for now and see if anyone takes up his offer.....

 

[fxmarkets]

no worries Rols..... lets see what turns up.... dollars maybe......

 

[Charlton]

FX thanx for the inquisition. I feel some responsibility for drawing attention to the site - there again, call your site Intuition Master and you've setting up for a grilling.

My initial thoughts are that you can't teach somebody to walk over hot coals by asking them to
take their shoes and socks off and walk around the garden.

The thing is that they have found a niche in the market of wannabe traders but I reckon could have done it much better. There are sooo many aspects to the mind thing that you could have people doing multiple modules from meditation to astral projection.

When George Souros makes his investment decisions his back quite literally goes into a spasm. And he's done OK I believe...

I think Ian comes over sincerely and we should give him the benefit for now and see if anyone takes up his offer.....

Rols

I have had a little look at the site now. To be fair to Ian the trial is free and they don't even ask for the customary email address.

However I do not feel that "guessing" whether the next bar is up or down, as the exercises appear to be to me, does much to contribute to either conscious analysis or subconscious intuition. I think both of these require sustained effort and experience.

The intuition naturally follows from application

Charlton

 

[ianhowlett]

However I do not feel that "guessing" whether the next bar is up or down, as the exercises appear to be to me, does much to contribute to either conscious analysis or subconscious intuition.

Did you look at modules 2 and 3? These show charts in sequence, one day after the next, and so more than just the next bar becomes important.

I think both of these require sustained effort and experience. The intuition naturally follows from application.

This is exactly what I'm saying! But for somebody new to trading, or somebody who is trading but is suffering net losses, they need to build this experience without taking years to do so. I am intrigued to find out more about your reasoning, since I honestly can't see why taking ten years to look at markets in real time is superior to using a simulator such as ours to accelerate this learning. The same skills are being used. The only difference is that rookie traders might be staking real money in a real-time environment. But since this would be pitting a novice against market professionals, which will most likely turn into a suicide mission, why is that an advantage?


Ian Howlett
CEO, Faculty of Trading Ltd.
www.facultyoftrading.com

 

[Trdr]

" My initial thoughts are that you can't teach somebody to walk over hot coals by asking them to
take their shoes and socks off and walk around the garden." Rols.

1st image, Anthony Robbins doing exactly that:
http://www.scp-inc.org/publications/journals/J2202/Rhodes.htm

2nd image, an alternative to removing 'shoes and socks' ; )
http://www.firewalking.com/bio.html

 

[Charlton]

Intuition is important but not everything and follows from hard work

Did you look at modules 2 and 3? These show charts in sequence, one day after the next, and so more than just the next bar becomes important.

I did indeed look at those modules. I would also urge anyone who is interested to do so also, because they can make up their own minds about it.

This is exactly what I'm saying! But for somebody new to trading, or somebody who is trading but is suffering net losses, they need to build this experience without taking years to do so. I am intrigued to find out more about your reasoning, since I honestly can't see why taking ten years to look at markets in real time is superior to using a simulator such as ours to accelerate this learning. The same skills are being used. The only difference is that rookie traders might be staking real money in a real-time environment. But since this would be pitting a novice against market professionals, which will most likely turn into a suicide mission, why is that an advantage?
QUOTE]
Because developing intuition and some pattern recognition is not the only requirement. Analysis is needed i.e. the application of logic based upon a reading of the charts, including volume (which I don't recall seeing on your site). It needs the kind of analysis that Mr Marcus demonstrated so eloquently recently. It also needs consideration of factors such as money management and risk analysis.

Intuition does not arise merely through pattern recognition but through application of logic via analysis.

To suggest to newbies that intuition alone suffices is, in your own words, a suicide mission. It is a part, but not the whole of successful trading.

I am not going to comment further on this - readers can make up their own minds, as you have kindly given them the opportunity of a free trial

Charlton

 

[ianhowlett]

" My initial thoughts are that you can't teach somebody to walk over hot coals by asking them to take their shoes and socks off and walk around the garden."

Some people argue that footballers (or soccer players if you’re American) may as well not bother to practice taking penalties, since the training ground can’t replicate the pressure of a real match. After England’s dismal exit from the World Cup I bet they’re wishing they practiced a few more now! Similarly, why does Tiger Woods practice his putting? He can’t replicate the pressure of a tournament final, but what he can do is to make his putting closer to second nature, so that he doesn’t have to worry about his technique when the pressure is on.

Trading is another high-pressure situation just like these sports. Nobody says that sports stars shouldn’t practice. Nobody expects Roger Federer to just turn up and win all his tennis games without ever raising a racquet in practice. So why should trading be any different?

Of course you can’t replicate real life 100% in a training environment, but you can replicate the environment enough to teach and hone the key skills.


Ian Howlett
CEO, Faculty of Trading Ltd.
www.facultyoftrading.com

 

[ianhowlett]

Because developing intuition and some pattern recognition is not the only requirement...It also needs consideration of factors such as money management and risk analysis.

We're releasing a further module on position sizing and risk management in about a week's time, since you rightly point out that this is an important requirement for successful trading.

Thanks for the comment regarding volume, it is indeed something that we are considering adding.



Ian Howlett
CEO, Faculty of Trading Ltd.
www.facultyoftrading.com

 

[brightspell]

Margin

I guess another factor in the `living on the edge' situation is how far you can lean over?! Is anybody out there buying on margin? You may recall a legendary stock trader by the name of Nicholas Darvas who made $2000000 during the 1950's when that meant a lot of dosh. He also used to earn a living travelling the world with his partner, doing professional ballroom dancing. Way back then, he was out of touch with the international markets for many days at a time. The only stock price information that he had was usually an out of date copy of `Barrons'!

This he later claimed to have played a part in his success as he was unable to `noise trade' and this also helped him to minimise his trading costs. His basic method was a meld of technical + fundamental. He used a series of `boxes' to study price action and when a share exploded out of its box he bought more and pulled up his `stop loss' behind him. In effect he invested in `rockets' like Texas Instruments and Polaroid long before they became household names. Most of his trades were carried out on 50% margin.

Perhaps he was also a little lucky that he began his adventure in the early 1950's just as the post war bull market was starting to roll. He wrote all this down in a book called `How I made $2000000 in the Stock Market' which was later verified by Newsweek magazine using his broker buy/sell notes. My copy is Pan Books priced at 3/6d but perhaps its still in print.....very inspirational reading!

Objectives: Right Stocks; right timing; small losses;big profits. Weapons: Price and volume; box theory; automatic buy order; stop loss sell order......."I would jog along with an upward trend, trailing my stop loss insurance behind me. As the trend continued I would buy more. When the trend reversed? I would run like a thief." So there you have it! take the money and run!
Cheers BS

 

[fxmarkets]

no worries Rols..... lets see what turns up.... dollars maybe......

Good heavens I must be psychic ,those sneaky sods have done it again Its a good job those finacial theorists say its a random game because thats the only thing keeping me from complaining about the fact that theres more rigging in this lark than a big ship with lots of ermmm rigging on it..... intuitively speaking of course.

Pass the Buck I mean Book New York.

SELL SELL....

FX

 

[rols]

Good heavens I must be psychic ,those sneaky sods have done it again Its a good job those finacial theorists say its a random game because thats the only thing keeping me from complaining about the fact that theres more rigging in this lark than a big ship with lots of ermmm rigging on it..... intuitively speaking of course.

Pass the Buck I mean Book New York.

SELL SELL....

FX

The Faculty of Trading has offered me a free module!

I shall report back.....

 

[fxmarkets]

nice one rols I started to type and suggest a spare for you earlier if the 5 had been snatched as you started this thread , it seemed a decent thing to do .good luck with it mate.

 

[rols]

nice one rols I started to type and suggest a spare for you earlier if the 5 had been snatched as you started this thread , it seemed a decent thing to do .good luck with it mate.

OK

I started out on one of the modules and soon realised it wasn't for me.

The module involved a daily chart of the DAX from 1994 and involved predicting the next days bar by clicking LONG, SHORT, or FLAT. For this vehicle along there are 2500 days to predict. You have a time limit of 2mins per prediction on each one. There are no indicators except price.

After clicking away for a while (about 150) and getting mentally tired my hit rate got up to 75% and I have to confess it was more to do with pattern recognition than gut intuition. I then took a break and decided to try and find some intuition and my score started to tumble and after a while I found it difficult not to just click willy nilly or react emotionally to the previous bar.

My comments are as follows.

1. This is a simulation and like all simulations has certain uses, but for me I need the reality of my own filthy lucre on the line to make every trade count.

2. My idea of intuition involves being in a live market and tuning into the buzz by observing price action and targets (pivots etc.) not being some kinda Mystic Meg who can foretell next week's price of fish. Though I do agree pattern recognition is an important aspect of trading but only part of a bigger picture.

3. I would have enjoyed the exercise more perhaps as a newbie trader but approaching from where I am now gave me a similar feeling of going to the golf driving range. When I started playing golf I went to the range every other day for a year or so. Now if I go I soon lose interest and want to get out onto the course as the purpose of the range for me was learning how to hit the ball straight and I can do that now(most of the time).

4. The most important aspect of intuition which isn't mentioned on the site is brain state. Not being in a passive receptive brain wave state and trying to trade intuitively is akin IMO to driving a car at night without the head lamps on.

I would be interested to hear of any others' experiences.