8 methods to consistent profitability

Splitlink

Legendary member
10,850 1,234
Totally agree with your first point sir. Charts (and stochastics etc, LOL) would certainly have told you what had happened and I'm sure a lot of retro-cowboys showed how they used the charts to make a killing. However, to your final point, it was no black swan as was 9/11. The Treasury spending £27bn of their reserves and it having no effect was signal enough to those watching. And watching we were. There was never a more obvious route to be taken - simply hold rather than spend foreign currency reserves and let the blighter devalue. Had they done that, the reserves would have appreciated by around £2.5bn rather than suffer the loss of over £3bn in the event. Their course of action was the only surprise, not the predestined result.

Yes, you are absolutely right. The 1992 GBP crisis caught me with a bad back and I was at home, all day, listening to the radio. There was nothing else on, except this crisis and I got to the phone in the afternoon and switched my account before the bank closed. I was so pleased with myself the next day.! That could not be called a Black Swan. I remember the trigger that made me do it. John Major and Nigel Lawson standing on some steps, swearing to defend the currency 'til their last breath. I did not trust either of them. The pound left the snake and plunged two hours later, after the banks had closed, I believe.
 

15 min tlb

Senior member
2,057 98
Totally agree with your first point sir. Charts (and stochastics etc, LOL) would certainly have told you what

There are people who know how to use indicators correctly ,there are traders using indicators for swing trading over several days , they spend two minutes looking at an indicator ,then they put their trade on.The indicator tells what they wanted to know , that is are the conditions right to enter?

If you gave a set of tools to a clueless apprentice , what will his opinion be , on how to use the tools?
 

15 min tlb

Senior member
2,057 98
Traders don't fail because they can't find methods, systems, setups, book recommendations, internet forum advice or thyroid yoga bookmarks :confused:

As far as I can make out most traders fail for pretty basic reasons and these reasons don't necessarily have anything to do with trading.

Ask a random group of people to explain probability and compounding (as I'm talking probability here best if we make it a very large group :) ). I doubt many people would be able to make a decent job of it. That already presents the average person with a trading challenge before they start. Of course many will be unaware of this gap in their knowledge. In the words of Rumsfeld, these are the unknown unknowns - things people don't know they don't know.

Like every other career there are several core competencies required to be successful, or in this case consistently profitable over time. I expect all good traders demonstrate similar behaviours in the critical areas.

If every new trader understood probability, compounding, position sizing/money management and that a 50% loss requires a 100% profit to get back to where they started I suspect more people would find they could trade for long enough to figure out what works for them. Despite all the content and advice out there I don't think I have ever seen this laid out clearly to newcomers.

How many trading books have been written on trading probabilities ?Is there any trading book you can use practically?
 

15 min tlb

Senior member
2,057 98
1)4 hour trending system ,used by most professionals
2)Trend retracement method , it is used by most professional traders
3) Intraday trendline system on 15 min
4)Key support and resistance ...used by professionals
5)Ma cross on 15 and30 min with refined low risk tight stop entries
6)High probability Breakout method based on fundamentals
7)ranging market system.
8)Scalping method based on longer time frames like 15 min , 30 min and 4 hour trendlines

There are hundreds of free systems on forums , yet 95 % lose money.Just look at them with a pinch of salt , and think before using them.They are written by amateurs , if you follow amateurs and failures , you will end up as one

Trading Systems @ Forex Factory

Another point to look at is the systems traders are using , they are the equivalent of one of the eight methods .So if u go to war with one eight of your Armour , defeat is certain.
 

the hare

Senior member
2,949 1,283
After buying these books , you realize ....same all stuff you read before , nothing new ......

Which books ?

There are a couple of books about probability of various chart / price action patterns, they are about as useful as a chocolate teapot.

There are a handful of books of practical value.

Reading a book on brain surgery isn't going to transform you into a surgeon. Reading a book on software development isn't going to turn you into a software engineer.

Why should reading a feckin book allow anyone to instantly make money ? (Unless its the t2w book of course, but hurry, only 89 left etc)
 

pboyles

Legendary member
8,072 1,303
Which books ?

There are a couple of books about probability of various chart / price action patterns, they are about as useful as a chocolate teapot.

There are a handful of books of practical value.

Reading a book on brain surgery isn't going to transform you into a surgeon. Reading a book on software development isn't going to turn you into a software engineer.

Why should reading a feckin book allow anyone to instantly make money ? (Unless its the t2w book of course, but hurry, only 89 left etc)

I disagree. Theres a book by a guy called McDonald that will allow you to make £1400 a month GUARANTEED and totally RISK FREE! Of course 8 hours work is involved in making the money which I know is not acceptable to most people here as they prefer just 10 minutes work a day.
 

timsk

Legendary member
7,612 2,383
Hi the hare,
Reading a book on brain surgery isn't going to transform you into a surgeon. Reading a book on software development isn't going to turn you into a software engineer.
Reading the Highway Code won't turn you into the next Louis Hamilton or Jensen Button - but I guarantee you that both of those drivers have read it.

Why should reading a feckin book allow anyone to instantly make money ? (Unless its the t2w book of course, but hurry, only 89 left etc)
It won't. However, I've never read a 'serious' trading book that suggests one can. And yes, that includes the T2W FAQ book. :p
But a good book or, dare I say it, T2W article or thread even, might help prevent a trader from losing money in double quick time and sow a few seeds which may enable them to make money in the fullness of time.
Tim.
 
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15 min tlb

Senior member
2,057 98
Which books ?



Why should reading a feckin book allow anyone to instantly make money ? (Unless its the t2w book of course, but hurry, only 89 left etc)

I could write you a book (edited grammar- my grammar is poor) on instantly making money ,on forex and futures , and you will get 65 % hit rate , and be profitable every year , with low draw downs.You would probably make 200 % a year on capital , start with 100k and compound it on a weekly basis.
:LOL:

Don't claim I am asking for funds , because my brother is a billionaire , just 1 phone call is all I need.Over 100 pdfs books plus 35 others in paperback , it only requires 1 book with practical instructions to be consistently profitable.
 

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15 min tlb

Senior member
2,057 98
Hi the hare,



It won't. However, I've never read a 'serious' trading book that suggests one can. And yes, that includes the T2W FAQ book. :p
But a good book or, dare I say it, T2W article or thread even, might help prevent a trader from losing money in double quick time and sow a few seeds which may enable them to make money in the fullness of time.
Tim.

Why don't you write a decent trading methods book , and save most traders a few years wasted from automation ,software , indicator crap, eas crap, signals illusion .Many people will appreciate it.Just call it save yourself years in becoming a profitable trader.

Include trading plan examples , system method plans , money management and risk management etc
 

the hare

Senior member
2,949 1,283
Why don't you write a decent trading methods book , and save most traders a few years wasted from automation ,software , indicator crap, eas crap, signals illusion .Many people will appreciate it.Just call it save yourself years in becoming a profitable trader.

Include trading plan examples , system method plans , money management and risk management etc

Seriously, because there is NO DEMAND for such a book

I was chatting to a well known US based training provider a couple of weeks ago, and he made the comment, "the customer is always right, I give them what they want".

So there you have it, you either write a decent book and make nothing, or plagerize crap and make millions. It's a no brainier isn't it ?
 

D70

Established member
839 195
Hi the hare,

Reading the Highway Code won't turn you into the next Louis Hamilton or Jensen Button - but I guarantee you that both of those drivers have read it.


It won't. However, I've never read a 'serious' trading book that suggests one can. And yes, that includes the T2W FAQ book. :p
But a good book or, dare I say it, T2W article or thread even, might help prevent a trader from losing money in double quick time and sow a few seeds which may enable them to make money in the fullness of time.
Tim.

You really think Lewis Hamilton and Jenson Button have read the Highway Code??
 

D70

Established member
839 195
I could write you a book (edited grammar- my grammar is poor) on instantly making money ,on forex and futures , and you will get 65 % hit rate , and be profitable every year , with low draw downs.You would probably make 200 % a year on capital , start with 100k and compound it on a weekly basis.
:LOL:

Don't claim I am asking for funds , because my brother is a billionaire , just 1 phone call is all I need.Over 100 pdfs books plus 35 others in paperback , it only requires 1 book with practical instructions to be consistently profitable.

My bull-****-o-meter is off the scale when you post 15min tlb dt vb ed.
Could you please refrain until you know what you are talking about.
It's like listening to a 4 year old describe why the sky is blue.
 

15 min tlb

Senior member
2,057 98
My bull-****-o-meter is off the scale when you post 15min tlb dt vb ed.
Could you please refrain until you know what you are talking about.
It's like listening to a 4 year old describe why the sky is blue.

One day you will chew your own words , when you realize Sorros2 was on t2w .Don't underestimate anyone .
 
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