Trading Chaos by Bill Williams

[slight]

Thanks for your explicit answer. That does sound great. I am not there yet at all. I have been trading for 3 years and your development description just fits me perfectly. It hasn't been until recently that something clicked and the mind seems to operate more and more correctly in the trading environment.
I am not at all mathematically gifted, so I guess developing my own system and calculating all day long would only yield to nothing
As you might know, I can't quite agree with you on the "order" aspect and neither on the fact that chaos is not a good name for the system. Chaos as we usually understand it, of course, a bad name for it. However, I do have a couple of videos where Bill Williams explains his system and what stands behind the name of chaos and how he implements that with the fractals and the elliott wave. Even though I am not very educated in this respect I can't really tell if he b.s.'s me, but from his explanations it all does make sense and helps me to grasp the system and how it works in actual trading much better than it would without it.

Good Trading!

 

[4xpipcounter]

Having a love for and being really good with numbers has abetted my passion for trading, and has even turned it into a hobby for me. It is not necessary to have math skills to be a good trader, but just the ability to read charts. This is what you have developed or are developing in trading the chaos theory. We don't have to agree to be successful traders. All we need to be successful trades is the ability to garner pips. If the chaos theory fits yuor niche, then stick to it. Learn it inside and out. Get so good at it that you are better than Bill, himself. Be so good that Bill will come to you for questions. The time you put in now will reap rich rewards later. Believe me.
BTW, determine if is as you put it, "bs", before you make great strides into it. The inventor of the system should be better with it than his protegees, but if it is your niche, then you can hone your skills to the point you are better than him. I am fully aware of the videos Bill Williams has. It still has to be up to the individual to decide if his system is right. What is right is right for the individual, and what is wrong is wrong for the individual. Methodologies are not a moral issue. They are a personal issue.
That is another reason I work hard at continually honing my skills. I got people who follow my thread that spot things with my S&R's that otherwise I would have missed.

Thanks for your explicit answer. That does sound great. I am not there yet at all. I have been trading for 3 years and your development description just fits me perfectly. It hasn't been until recently that something clicked and the mind seems to operate more and more correctly in the trading environment.
I am not at all mathematically gifted, so I guess developing my own system and calculating all day long would only yield to nothing
As you might know, I can't quite agree with you on the "order" aspect and neither on the fact that chaos is not a good name for the system. Chaos as we usually understand it, of course, a bad name for it. However, I do have a couple of videos where Bill Williams explains his system and what stands behind the name of chaos and how he implements that with the fractals and the elliott wave. Even though I am not very educated in this respect I can't really tell if he b.s.'s me, but from his explanations it all does make sense and helps me to grasp the system and how it works in actual trading much better than it would without it.

Good Trading!

 

[slight]

Very true. I like how you emphasize the personal and individual aspect of trading. There is no universal truth here that needs to be looked for, but much rather a personal comfort level that has to be reached.
I am in luck very much since the chaos system is the only thing I know. I don't understand plain TA or fundamental analysis. Nor have I ever attempted to create my own system. Studying B.W.'s books, videos inside and out it has made me a pretty good analyst in this respect I believe. But, as i read in your thread somewhere as well, this doesn't necessarily mean you are a good trader. But knowing what you do will probably yield to doing what you know at some point. For me, also, trading has become a passion and that will, so I believe very very much, to the final success everyone is looking for. However, there is more to it than reading a book and starting out winning from day 1. You need to live it.

I wouldn't say B.W. can come to me and ask me questions, but I have yet to find another trader who knows and trades the system as I do

 

[4xpipcounter]

Even though I get my share of pips, if I am the only forecaster I follow, and my forecasting is accurate, then it is obvious I will be a better forecaster than trader, because there is not time to trade all the pairs I forecast. The encumbersone part is deciding which pairs I want to trade, seeing there is no many opportunities.

Very true. I like how you emphasize the personal and individual aspect of trading. There is no universal truth here that needs to be looked for, but much rather a personal comfort level that has to be reached.
I am in luck very much since the chaos system is the only thing I know. I don't understand plain TA or fundamental analysis. Nor have I ever attempted to create my own system. Studying B.W.'s books, videos inside and out it has made me a pretty good analyst in this respect I believe. But, as i read in your thread somewhere as well, this doesn't necessarily mean you are a good trader. But knowing what you do will probably yield to doing what you know at some point. For me, also, trading has become a passion and that will, so I believe very very much, to the final success everyone is looking for. However, there is more to it than reading a book and starting out winning from day 1. You need to live it.

I wouldn't say B.W. can come to me and ask me questions, but I have yet to find another trader who knows and trades the system as I do

 

[milliomos]

Hello,

Do you know that what is his exit strategy?
How does he move/change StopLoss??

thanx

 

[slight]

that cant be explained just like that. it depends on the market situation and more or less what wave you are in. there are a couple of ways to do that, depending on how long you want to stay with the trend or bank profits.. reading his books should give you a good idea about that.

 

[MaxiV]

Has anyone read the book Trading Chaos by Bill Williams and successfully tried out the methods he describes?

Looks very interesting, I haven't finished the book yet but I think it involves Elliot wave BUT with a precise way of knowing which wave you are in, overall the book is saying you can accurately read the market once you understand the underlying structure

It also says that with his approach you can in ten seconds or less analyze any market and decide whether you should be long, short, pyramiding, stropping and reversing or just out.
Any thoughts or comments ?

I have read both his books. but his second book has different WISE MEN (3 of them) indicators. He seemed to have changed his methods in line with changes in the manner or ways of the markes now. A great read (both of his books), BUT seems to have big stops... i wouldn't knock it but im sure there are others sytems out there that are better.

 

[Hittfeld]

I ... i wouldn't knock it but im sure there are others sytems out there that are better.

Only I haven`t found a better one yet! And I`ve tried hard to find one.
Whenever I demo one of the better systems from FF like THV4 or Eaglets ... I have BW on my second screen in very same TF. Normally BW signals are 1 candle earlier. The very special of BW is this: You don`t scare on the screen to wait for a market order to be triggered. Instead you place stop orders (and corresponding stoploss) which might be hit much, much later. And when you are on a trend, you ride it INCREASING your position - and always moving your SL.

Regards

Hittfeld

 

[MaxiV]

Only I haven`t found a better one yet! And I`ve tried hard to find one.
Whenever I demo one of the better systems from FF like THV4 or Eaglets ... I have BW on my second screen in very same TF. Normally BW signals are 1 candle earlier. The very special of BW is this: You don`t scare on the screen to wait for a market order to be triggered. Instead you place stop orders (and corresponding stoploss) which might be hit much, much later. And when you are on a trend, you ride it INCREASING your position - and always moving your SL.

Regards

Hittfeld

True I agree. Some sytems need to be tailerd to individuals needs and then stuck to. I am a use Japanise Candlestick in my trading ( and read both of the major books from Steve Nison); but this is not my sole use in my trading. I use Richard Hills Forex Net trap... but again this tool needs to be a little tailored for my style of trading... then stick... may be you should find the same...

 

[Phenyo]

Thank you to the many of you who have contributed to this thread taking form as it has; I am reading BW book trading chaos and am indeed learning a lot and of all the systems I have come across this is more aligned to my thinking and being.

 

[barryypma]

Hi, everyone!
I'm reading the book "trading Chaos" by bill williams and find better knowledge on trade. So I decided to try and open an trading account with the "Easy Forex", as its headoffice are in London, has anybody heard this company? It is safe and reputation is good? Or what is the rank in its field now?
I have a few years trading experience and my location is in hong kong.
Pls give comment!

 

[MaxiV]

I have read both his books. but his second book has different WISE MEN (3 of them) indicators. He seemed to have changed his methods in line with changes in the manner or ways of the markes now. A great read (both of his books), BUT seems to have big stops... i wouldn't knock it but im sure there are others sytems out there that are better.

Someone PM me about the condensed version that i complied myself to allow me to understand the methods better while i used to trade the "profitunity" system... here is the pdf file.

 

[Hittfeld]

Thanks MaxiV, thats a nice compilation. Although its BW2 (NewDimensions). On Forexfactory -and other places- a further compilation of CHaos2 is floating around, 70 nice overheads.

Well done.

Hittfeld

 

[MaxiV]

Thanks MaxiV, thats a nice compilation. Although its BW2 (NewDimensions). On Forexfactory -and other places- a further compilation of CHaos2 is floating around, 70 nice overheads.

Well done.

Hittfeld

you have the link for these so i can have a look? I know BW has the 3 Wise Men system in his second book.

 

[Hittfeld]

MaxiV,
1. Here is a link: http://www.forexfactory.com/showpost.php?p=2854201
2. On page 4 , 2nd bullet I don`t really understand: I thought a buy fractal is always ABOVE, a sell fractal always BELOW the red line. Stops for entry to be placed 1 (or 2... + spread) pips BEYOND that price bar i.e. above high of buy fractal , below low of sell fractal. Did I misinterpret something?

Thanks

Hittfeld

 

[Hittfeld]

MaxiV,
you are aware of isto`s fabulous thread, aren`t you:

http://www.forexfactory.com/showthread.php?t=26044

Regards

Hittfeld

 

[Blaiserboy]

Someone PM me about the condensed version that i complied myself to allow me to understand the methods better while i used to trade the "profitunity" system... here is the pdf file.

Thanks for posting the pdf..!!

 

[MaxiV]

MaxiV,
1. Here is a link: http://www.forexfactory.com/showpost.php?p=2854201
2. On page 4 , 2nd bullet I don`t really understand: I thought a buy fractal is always ABOVE, a sell fractal always BELOW the red line. Stops for entry to be placed 1 (or 2... + spread) pips BEYOND that price bar i.e. above high of buy fractal , below low of sell fractal. Did I misinterpret something?

Thanks

Hittfeld

A great find... i nice quick rundown.

 

[The_Snowman]

Even though I get my share of pips, if I am the only forecaster I follow, and my forecasting is accurate, then it is obvious I will be a better forecaster than trader, because there is not time to trade all the pairs I forecast. The encumbersone part is deciding which pairs I want to trade, seeing there is no many opportunities.

Come'on, no one can "forecast" the markets!

 

[stok]

Hey all...can anyone point me to where I can fine Tradestation code for the balance line trades? I has to be written somewhere....in a showme or paintbar study. Thanks!