Joe Ross, Trading Educators

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rocky121703

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Hello,

I'm new to this forum and would like to know if anyone has taken the Joe Ross Day Trading Online Video Seminar or attended any of his seminars recently, i.e., as of October 23, 2008; if so, I would appreciate your honest assessment. I'm trying to determine whether his methodologies are still relevant today and how successful anyone is using them.

Thanks for taking the time to respond back.

Rocky
 
rocky121703 said:
Hello,

I'm new to this forum and would like to know if anyone has taken the Joe Ross Day Trading Online Video Seminar or attended any of his seminars recently, i.e., as of October 23, 2008; if so, I would appreciate your honest assessment. I'm trying to determine whether his methodologies are still relevant today and how successful anyone is using them.

Thanks for taking the time to respond back.

Rocky
Click to expand...

I have never taken any of Joe Ross courses, but then I don't need to; his Ross Hook still works, as it is one of my favourite entry strategies, specially when combined with Bollinger Bands.
A few years ago Ross sent a trading manual of some 31 chapters via the net on a forthnightly basis, that is, a chapter per two weeks.
That's where I learnt about the Ross Hook and The Law of Charts.
His others products are not cheap, so I would expect the same about his seminars.
Hope this helps.

Eduardo.
 
rocky121703 said:
Hello,

I'm new to this forum and would like to know if anyone has taken the Joe Ross Day Trading Online Video Seminar or attended any of his seminars recently, i.e., as of October 23, 2008; if so, I would appreciate your honest assessment. I'm trying to determine whether his methodologies are still relevant today and how successful anyone is using them.

Thanks for taking the time to respond back.

Rocky
Click to expand...

i havent attended any Guru Joe Ross seminar but i believe that he is a sincere teacher who wants to help traders.
 
Ross Hooks and the law of charts look very mechanical and simplistic(if not primitive) tools. Therefore, it should be fairly easy to test automatically? And automaticall I tested them. Backtesting results were not encouraging. Looks more like ...hm... randomly profitable. Perhaps, somebody modified it in a profitable way. But then - why do you need Ross? Take any random signal/indicator and modify it in a way to make profitable.

Also, given a randomly generated chart I can still recognise hooks, congestions, trends, retracements.

Of course, things might be completely different on his seminars, but judging from what I've got I would expect just more talk.
Going on a seminar to get an "eye-opener" is naive at best. There isn't any objective criteria to see immediately whether a system works or not right in the classroom with your own eyes. You need statistical tests to distinguish between noise and signal, but Ross is no help in this.

Ross doesn't seem to know math/statistics/probability/signal processing/econometrics etc... I don't think trading can be done without proper statistical testing. But then you would need confidence intervals, error estimates etc...
Surely, it is very tempting to just give up your job and hope to manually on a hunch trade your way out.

Trading has to move from subjective to objective and Ross's material is childish in my view.
 
egro1egro said:
Ross Hooks and the law of charts look very mechanical and simplistic(if not primitive) tools. Therefore, it should be fairly easy to test automatically? And automaticall I tested them. Backtesting results were not encouraging. Looks more like ...hm... randomly profitable. Perhaps, somebody modified it in a profitable way. But then - why do you need Ross? Take any random signal/indicator and modify it in a way to make profitable.

Also, given a randomly generated chart I can still recognise hooks, congestions, trends, retracements.

Of course, things might be completely different on his seminars, but judging from what I've got I would expect just more talk.
Going on a seminar to get an "eye-opener" is naive at best. There isn't any objective criteria to see immediately whether a system works or not right in the classroom with your own eyes. You need statistical tests to distinguish between noise and signal, but Ross is no help in this.

Ross doesn't seem to know math/statistics/probability/signal processing/econometrics etc... I don't think trading can be done without proper statistical testing. But then you would need confidence intervals, error estimates etc...
Surely, it is very tempting to just give up your job and hope to manually on a hunch trade your way out.

Trading has to move from subjective to objective and Ross's material is childish in my view.
Click to expand...

I respect your views but things are not completely what you think. I myself studied Ross' material and now am feeling better. i am a profitable trader because of him. I watch only bar chart nothing else. Through chart i get idea about market. Anyway if you want to ask something i am here.

Thanks
Fakhar
 
egro1egro said:
What exactly did you study and how do you use it?
Click to expand...

I have studied 30min, 15min and 5 min charts and i mostly trade them. There is not one rule fits for all contracts so i have different timeframes for different contracts.

Thanks
 
I meant, what Ross's materials did you study, what technique from them are you using and how?

Joe always says: buy this book and it will change your life, you spend $$$ on a book but think how much will you earn after that!

So, my understanding of this (with all the necesary disclaimers about risk and trading and blah, blah, blah...): I buy a book, read it, start using the method described and money should pour into my account. And the only skill I will need to acquire after that is just precise and disciplined execution.

Am I wrong in my assumptions?
 
I meant, what Ross's materials did you study, what technique from them are you using and how?

I studied his book '' Day Trading ". I am not using any of his techniques in my trading. I have discovered my own.
Joe always says: buy this book and it will change your life, you spend $$$ on a book but think how much will you earn after that!

So, my understanding of this (with all the necesary disclaimers about risk and trading and blah, blah, blah...): I buy a book, read it, start using the method described and money should pour into my account. And the only skill I will need to acquire after that is just precise and disciplined execution.

Am I wrong in my assumptions?[/QUOTE]

Just not execution. He didnt mention any method in his book but he asked his reader to discover what is fit for him. There is a law. There is a pattern of the market. You have to know it and then discover your timeframe in which you are comfortable.
 
Then how do you define "he helped me to become profitable"?

So, you cannot say that his patterns work. Can anybody say that they work?

Any reason to buy a book other than to obtain information?
 
definitly it changed my life. I understood '' The Law of Chart'' and it is helping me a lot. anyways if you guys dont agree, i dont mind. If you are successful in your trading then dont try anything else. keep stick with it.
 
Actually the Joe Ross books were the first to really undertake issues of money management and trade management. And his Law of the Charts was NOT widely disseminated information when those were released. I have traded his 1-2-3 breakouts and hooks for 6 months, and they seem to work great. I also trade other methodologies, but the guy looks like a genius as far as I can tell. Whattaya think?
 
ksteele143 said:
Actually the Joe Ross books were the first to really undertake issues of money management and trade management.
Click to expand...

This is soooooo not true (about money management). And what is "trade management"?

Perhaps, he was the first in your reading list that spoke about money management, but not in the history. Try to google Kelly, Shannon, Thorp, Vince etc...

And what are Ross's rules of money management? Any formulas on how to calculate position size?
 
well egro Joe has been trading for some 40 years, and he comes from a line of traders stretching back 126 years. As you know most traders struggle with not TAKING profits as opposed to losing most of their trades. Just psychological. I guess we all want MORE out of a trade :) That's trade management. How you handle a trade once you're in it. I'll leave it to you to examine the money management rules, but they've been a great help to me.

Great tradin' to ya.
 
ksteele143 said:
well egro Joe has been trading for some 40 years, and he comes from a line of traders stretching back 126 years.
Click to expand...

40, 126 years - you just parroting his words. I have no independently verified information about it. Can you please help me find any references mentioning his family 100 years ago, 60, 50 years ago?

What I can see is that Joe Ross is teaching how to trade for about 20 years, but again it is difficult to verify since there was no Internet in 1980s.

As you know most traders struggle with not TAKING profits as opposed to losing most of their trades. Just psychological. I guess we all want MORE out of a trade :) That's trade management.
Click to expand...

Thanks for you free teaching. How could I possibly know such simple "trade management" rules. Definitely it was Joe Ross who invented first taking profits.

I'll leave it to you to examine the money management rules, but they've been a great help to me.
Click to expand...

I thought I clearly shown that I am not desperate to find yet any primitive mathematically illiterate money management system as Ross's TTE when you increase your initial risk by doubling your position first and then instead of taking additional profits to cover it you are supposed to close half of the position with a tiny profit straight away and get zero profit on another half - is that the glorified money management that Ross has invented for everybody to envy?
 
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