sminicooper
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Some of us have done just that which you describe (ie spent years learning how to do the biz) and trade quite successfully, thank you very much . So what is your point? If you have nothing to sell (thank God for that!), don't wish to divulge your secrets, and only wish to give us a lecture on your personal philosophy and moral code, then I think we will not gain much from your contribution.
It's a free world and forum here: so do carry on.
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The first of all you have to know is to master price action,others come second always,the more things you learn the better you will become,but you have to search to find them,except if someone gives them to you for free.
The other option you have is to go to prop and maybe if they know some of what i know they give it to you for free.
From my point of you from what i know only two of my methods is impossible to find and they are the most important,the ellite has made certain that very few people know these 2 methods,the others are easy to find
Becouse i am tired of seeing this elliot wave stuff bul...t everywhere i go at least in my country,thank god here you are more serious .
My point is that maybe some of you must stop trading becouse the whole thing is a hoax,they teach you the wrong staff and you expect to succed,maybe some of you will succed,but most of you wont for all the reasons i have told you.
I didht give a lecture to someone but i believe people should know that by trying to trade with most of the things they are taught they will lose money,and that explains why 95% of traders are losers
sminicooper
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You seem to be very presumptuous in your assertions and appear to have a thing about Elliot waves - it sounds like it's getting to you! If you are so concerned about the well being of UK trading humanity, why not just unload, get it off your chest and put us all to rights. It would be so much easier and just think how much you would go up in our estimation. We've only had a few "Greats" on this forum in many years that I can remember, so another would be most welcome.
I don't think this will be a wind-up, sounds genuine. I do believe Elliot Waves are a subjective way of muddying objective charts which sometimes by chance come to the same conclusion as any other method - buy in an uptrend, sell in a downtrend. I don't use off-chart indicators but the only two I might ever consider would be RSI and MACD.
Are you a elliot trader and you are offended...?
sminicooper
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No! All I'm trying to say is that if you something useful for us, please contribute. If you read the history of this forum you will see that there have been people who come here, pontificate and add nothing useful to the debate. We don't want you to be like that!
As for trading cycles and waves: if you start to slag off Hurst and all his stuff then perhaps I probably would become offended.
If anyone have tried magd and is useful,he can use it in a sustem,i havht found it useful myself and i can believe i can do the same stuff with ema,to not overcomplicate the chart.
To set the things straight here i have never said i belong to the 1% of the traders ,i only know what it needs to know to become one,when i become i will come again to tell it here :cheesy:
Anyway since i wrote this subject i will tell you some things how to distinguish top traders,so you dont pay for fake mentors.
THE TOP TRADER...
-he must have the ability to find tops and bottoms,not targets,he must clearly tell you where a bottom and top is
-he must be able to find 5 tops and bottoms out of ten
-Those at the top can find sometimes 8 in 10 tops and bottoms in high volatility
If someone dont have these 2 abilities then he is not who you are looking for
-If you want to see a seminar,you should always ask if he is trading live,if he is not then dont go to the seminar
-If he is an elliot wave trader the odds are he is not one of the best,and he uses other methods for targets which he let people believe its elliot waves,i have seen this happen
THE TOP TRADER...
-he must have the ability to find tops and bottoms,not targets,he must clearly tell you where a bottom and top is
-he must be able to find 5 tops and bottoms out of ten
-Those at the top can find sometimes 8 in 10 tops and bottoms in high volatility
If someone dont have these 2 abilities then he is not who you are looking for
-If you want to see a seminar,you should always ask if he is trading live,if he is not then dont go to the seminar
-If he is an elliot wave trader the odds are he is not one of the best,and he uses other methods for targets which he let people believe its elliot waves,i have seen this happen
---he must be able to find 5 tops and bottoms out of ten at least in high volatility,NOT JUST TARGETS---
This ability is what you are looking for if someone has not the ability to find actual tops and bottoms clearly,and even worst if he tells you that nobody can, then ...run away
This ability is what you are looking for if someone has not the ability to find actual tops and bottoms clearly,and even worst if he tells you that nobody can, then ...run away
D
Dowser
So, are you saying top traders trade reversals rather than trend following strategies? Here I disagree, but I'm not a top trader.
Reversals in high volatility is easy to find i have personally gave to friends more than 30 tops and bottoms in daily base in 6 months or so i dont really remenber,actually if you have some resistance,support systems or some target methods,the risk may be as low as 2-5%,these knowledge distinguish top traders from the others.
I am lucky of course that those who i gave these tops and bottoms back then didht lose money,but i didht gave them exact targets i only told them today will be a top or bottom
I personally believe and all top traders know that reversals in highpriced or lows areas are less risk
barjon
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I would be extremely surprised if any of the top 1% try to pick tops and bottoms. On the contrary, I believe most of them would tell you that's a fools game.
So is this just your view or have you interviewed many of the 1% to arrive at that conclusion? I guess the top traders featuring in Market Wizards and New Market Wizards must having beeen lying if what yo u say is correct. I doubt they were.
D
Dowser
Well, you could make this thread very interesting if you called out some tops and bottoms live. Just an idea.
And who told you that these people are in the top class,just becouse they are featured somewhere as pros? Someone may be consistent even if he doesht know this stuff,(if they are consistent)but these pros are these who take the stoploss to exit when with ''price action'' as they call it they keep the stocks in the top and we have their money
You see there are institutionals who dont know this stuff and others who know,these with the most money win.
Then its you the retails who dont know what i am talking about and you win by luck
But they sure have a point,you have to be expert in a market to do that,i dont go in 50 markets to do it ,altough i can,becouse is dangerous.
In the greek market which i knew it very well some times when i washt trading for maybe 2-3 days i knew the day of the bottom or top without even watching the chart.
I have stopped trading in the greek stok market and i am in transition now,i will trade somewhere else i dont really know yet in the greek forum i had found publicly 10 tops and bottoms.
I happened to find the top of 2009 in 1600 and all the moves till 1050 where i closed the position.
But surely i send the wrong message to people there becouse trading is not so easy as i made it look like,and they probably thought i was a multimilionaire :cheesy:
D
Dowser
The Greek stock market has a bottom?
Think it might be just be a lower low
Trade the trend
Think it might be just be a lower low
Trade the trend
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