Making Money Trading

This is a discussion on Making Money Trading within the First Steps forums, part of the Reception category; Ok the last thing that needs to be done before I start is to credit everyone that helped me along ...

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Old Oct 27, 2007, 4:09pm   #49
 
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trader_dante started this thread Ok the last thing that needs to be done before I start is to credit everyone that helped me along the path.

First and foremost is the james16 Chart Thread over at Forex Factory. This man did more for my trading than any source I have come across in seven years. There is a huge amount of free information in his thread which taught me the fundamentals of price action and how to trade it profitably. There is also a private forum which is a paying service for subscribers. I am not here to sell that but I would like to say that I am a member and it an absolutely incredible source for all traders and an excellent value for money. There are systems and ideas on price action, money management and trading psychology in that forum that have turned many traders around. They will not be revealed here.

Secondly I would like to give credit to Phi Nell who also posts over on Forex Factory. He has several strategies that have gained a good following but I refer to his strategy called the "5m intraday system" which is the foundation of my EMA system. I have made some minor changes to it and of course trade it on the longer timeframes but credit for the idea must go to him. Since this is an actual system I have asked Phil Nel's permission to refer to it. This was his reply: "I have no problem with that. We are here to help people to gain success. You have my full permission and good luck with it. You can add this notes to the thread so that people can see you have my blessing on it - Phillip".

So I have taken these works and then added something discretionary to it. In short, I have combined them with my own experience in the market which has been fairly extensive spanning seven years.

I have done a lot of reading in that time. Some of the key books which have given me ideas / beliefs (and perhaps most importantly the peseverance to pursue this despite years of difficulty) are, in no particular order:

How I made $2,000,000 in the stock market - Nicolas Darvas
Market Wizards - Jack D. Schwager
The New Market Wizards - Jack D. Schwager
Stock Market Wizards - Jack D. Schwager
Bulls, Bears, & Brains - Adam Leitzes and Joshua Solan
Trend Following: How great traders make millions in up or down markets - Michael W. Covel
Technical Trading Online - Jerold Roth
High Probability Trading - Marcel Link
Reminiscences Of A Stock Operator - Edwin Lefevre
Jesse Livermore: World's Greatest Stock Trader - Richard Smitten
How To Trade In Stocks - Jesse Livermore
Extraordinary Popular Delusions And The Madness Of Crowds - Charles Mackay

I would recommend these to all traders from amateur to highly experienced. I am a strong believer in keeping things simple and as a result I still read books that teach the basics even though I have now been doing this a long time.

I have found that most books, even if they are aimed at the beginner will often teach you something new. It may be that little piece of information or thought process that it sets off, that will take you down a new path that could lead to profitability.
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Last edited by trader_dante; Oct 27, 2007 at 4:35pm.
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Old Oct 27, 2007, 4:50pm   #50
 
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hi trader_dante I,m a newbie to forex trading and found it very interesting reading your new thread. Looking forward to it starting.
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Old Oct 27, 2007, 5:09pm   #51
 
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Quote:
Originally Posted by trader_dante View Post

I have done a lot of reading in that time. Some of the key books which have given me ideas / beliefs (and perhaps most importantly the peseverance to pursue this despite years of difficulty) are, in no particular order:

How I made $2,000,000 in the stock market - Nicolas Darvas
Market Wizards - Jack D. Schwager
The New Market Wizards - Jack D. Schwager
Stock Market Wizards - Jack D. Schwager
Bulls, Bears, & Brains - Adam Leitzes and Joshua Solan
Trend Following: How great traders make millions in up or down markets - Michael W. Covel
Technical Trading Online - Jerold Roth
High Probability Trading - Marcel Link
Reminiscences Of A Stock Operator - Edwin Lefevre
Jesse Livermore: World's Greatest Stock Trader - Richard Smitten
How To Trade In Stocks - Jesse Livermore
Extraordinary Popular Delusions And The Madness Of Crowds - Charles Mackay

I would recommend these to all traders from amateur to highly experienced. I am a strong believer in keeping things simple and as a result I still read books that teach the basics even though I have now been doing this a long time.

I have found that most books, even if they are aimed at the beginner will often teach you something new. It may be that little piece of information or thought process that it sets off, that will take you down a new path that could lead to profitability.
As you don't mention the only 3 authors of whom any notice should be taken whatsoever, Dr. Alexander Elder, Daryl Guppy and John Murphy, I can only conclude, along with your continual postponement of anything concrete or of substance, that You Sir are a Charlatan. or in other words, enough already, post something of value or get off the pot.

Last edited by Lightning McQueen; Oct 27, 2007 at 6:39pm. Reason: removed swearing
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Old Oct 27, 2007, 5:20pm   #52
 
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Originally Posted by trader_dante View Post
I want to show you how to make money trading the markets.
trade a 21 RSI-ema x-over of the 21 RSI, coupled with a 8/15 EMA x-over, Stop Buys above last high for the next opening. that's all anyone ever needs to know.
enough already of this mystic danteism
there you go, the only money making system you'll ever need.

Last edited by Lightning McQueen; Oct 27, 2007 at 5:25pm. Reason: removed the swearing
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Old Oct 27, 2007, 5:41pm   #53
 
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Originally Posted by Magic Moo View Post
Being very much a rookie here I am looking forward to hearing more on this! One question re your returns, are this based largely on one market or a good mixture?
I'd say a good imagination. But you won't believe me because you are a rookie. There are no shortcuts. OK? But you still won't be able to keep away from this thread. It has been very interesting to see who has expressed an interest in it. Hard to determine whether it is genuine or not....can't be genuine....surely....
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Old Oct 27, 2007, 5:54pm   #54
 
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Originally Posted by new_trader View Post
I'd say a good imagination. But you won't believe me because you are a rookie. There are no shortcuts. OK?
I beg to differ. It depends what you mean by a shortcut. If anyone thinks they can learn this overnight then I think they are sincerely mistaken. However, if you don't think that someone with a good few years experience can impart some wisdom that it would take others a much longer time to naturally find out for themselves, then I think you are the one that is mistaken. Send me a PM with your email address and I will send you my account history.
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Old Oct 27, 2007, 5:59pm   #55
 
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Originally Posted by rathcoole_exile View Post
trade a 21 RSI-ema x-over of the 21 RSI, coupled with a 8/15 EMA x-over, Stop Buys above last high for the next opening. that's all anyone ever needs to know.
enough already of this mystic danteism
there you go, the only money making system you'll ever need.
You heard him people. No need to read on!

Sounds good. Perhaps you'd be so good as to extoll your systems virtues - maybe by way of your account performance? We can compare
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Old Oct 27, 2007, 6:05pm   #56
 
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Originally Posted by trader_dante View Post
I beg to differ. It depends what you mean by a shortcut. If anyone thinks they can learn this overnight then I think they are sincerely mistaken. However, if you don't think that someone with a good few years experience can impart some wisdom that it would take others a much longer time to naturally find out for themselves, then I think you are the one that is mistaken. Send me a PM with your email address and I will send you my account history.
I'm not interested in your account HISTORY. Make some LIVE CHARITY trades on your own account here on T2W. THAT will give you some credibility. Let me guess, this is the sort of system that makes it impossible to do that....

Live trade calls...nothing else matters...

At least OSCAR does that to a degree

http://www.futurestraders.com/
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