Mike,
I've been meaning to get round to reading that thread.
You may not need it now; however, when you do read it, you will see the similarities (and differences) between the two approaches. I looked briefly at it when I first signed up to T2W, noted it as something to come back to, and then of course got sidetracked. Wish I'd read it properly the first time! Might have saved myself a packet.
Yes, I joined the private group, and it is excellent in my opinion. Certainly a little pricy, although if you really wanted to I think that you could get most of the material out of it in the first month, and go through it at your leisure. At the moment, I plan to stay for the year (at which point membership fees stop) as I've been impressed by the ongoing support.
I have been very tempted to join it, but have refrained so far. I suspect I'd get overwhelmed. I decided to go over TD's stuff again more thoroughly. Even though it's simple in principle, putting it into practice properly takes some getting into, especially if you've got used to other ways of doing things beforehand.
Having said that, if you're willing to put a bit more work in, the essential points are available on the free thread.
My trading has been changed out of all recognition since I discovered that thread. The material is simple, but believe it or not when I started trading I just followed systems, and ignored s/r and pa altogether. I wouldn't knock any approach that people want to take, but I've now gone indicator-free (well, I still keep a MACD hanging around for auld lang syne and a bit of divergence) and this has meant that I am growing my account instead of seeing it gradually bleed away. The difference has been staggering to be honest.
I can relate to a lot of this. When I started, I read of course about S&R, but I was inclined to take it all with a pinch of salt. Intellectually, I found it hard to accept that price could have a "memory" like that. I did the usual newbie thing of chasing the next indicator, and the next, etc.
Now I am indicator-free, with just J16's 365EMA (if anything), S&R pivots, and Fids, and the occasional TL. It's amazing seeing the price react to your own "levels", although I still seem to draw too many, and sometimes even then miss an important one. I seem to be ok at catching relatively short moves (working on 1H TF), but not very good at spotting the longer ones (which should be the real key to success with this method).
It's taken me 6 hard months to get to the point where I'm looking at price on charts instead of waiting for layers of lagging squiggles to line up, and there is no way I'd go back to that approach. Again, I won't criticise anybody's method - whatever works for people is great. On another forum I'm a member of, there are comparatively new traders who are consistently successful more or less following out of the box sytems. I just can't make anything like that work for me.
Never did for me, either. I get the impression that indicators, some of them anyway, would actually really come into their own once one had really got PASR (or SRPA) down to a fine art. i.e. learn the basics, flying by the seat of your pants, then add the "instruments" to add finesse. There were some postings on another thread the other day, where some experienced traders were saying how some well known successful traders do use indicators, so there must be something in them. I think the problem with them is that they are probably counterproductive and a distraction to newbies, if they haven't learned SRPA/PASR properly first. I wish I had realised this 18 months ago
I've come to realise that I have to find my own way.
Good point.
