buying books

your complaining people only write about concepts, not actually how to trade and by the looks of it you read ALOT. whats the matter, not worked it all out for yourself? :LOL:
 
oildaytrader said:
Several thousand books on trading and one success.Is this a reasonable comparison?
O D T
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The statistics are very firmly on your side.

I cant think of a single book that I own that was written by a trader with an independantly audited track record. I have couple of books by traders and analysts employed by financial institutions, a book by a trader who owns a clearing firm ! books by academics and a bunch of books written by marketers (bought purely because I'm fascinated by the marketing strategies they use)

I have a book by a trader who has quite publically lost a great deal of money, and I think was even subjected to investigation by the securities exchange commission. Actually there are quite a few authors who fell foul of various government agencies, including evasion of tax on book sales and seminar profits.

I do have a couple of books by authors who are CTA's (Chuck LeBeau springs to mind) but Ive never been arsed to check out his performance
 
N Rothschild said:
your complaining people only write about concepts, not actually how to trade and by the looks of it you read ALOT. whats the matter, not worked it all out for yourself? :LOL:
Click to expand...

After 3,000 odd posts still sucking a lollipop..

I worked it out for my self , not by reading the books , by making automated experts to test all these concepts and a few of the trading strategies posted in those books.My complaint is none of them ever gave a reliable strategy that stood the test of time.


Take logical trader or high probability trading and read the examples.
 
Perhaps there isn't a system on the planet that works !!

Could be we are all chasing rainbows

The tragedy is that if there is a profitable system out there it will never get to the public at large and be buried with its inventor -
 
Pat494 said:
Perhaps there isn't a system on the planet that works !!

Could be we are all chasing rainbows

The tragedy is that if there is a profitable system out there it will never get to the public at large and be buried with its inventor -
Click to expand...

There are systems on this planet that work,but they involve huge drawdowns and risks.

Those who do not put in the effort will get what they put in ,nothing .

Why should the inventor share it ,if he did he would be cutting his own throat on liquidity.There are profitable automated systems out there ,they will never be sold to the public,and nobody will ever be able to market them.
 
Just finished Market Wizards by Jack Schwager. Good read but doesn't get to the nitty gritty of how to. Or perhaps I am missing their points. They all say they are doing well but don't they all.
Typical American boasting largely.
They would be ostracised if they admitted current failure.
 
Pat494 said:
Just finished Market Wizards by Jack Schwager. Good read but doesn't get to the nitty gritty of how to. Or perhaps I am missing their points. They all say they are doing well but don't they all.
Typical American boasting largely.
They would be ostracised if they admitted current failure.
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Pat

i READ THE BOOK AND WAS DISSAPOINTED.

how many bidis on a crrrency branch?

O D T
 
Most of these stupid books will tell readers " support is the last low and resistance is the last high "

Unfortunately that is not correct.These previous lows and highs are formed as a result of low liquidity , greed,fear.volatility responses , noise,random markets,newsreleases and other factors.

The writers of books are not real traders , but they make good money from writing and selling this illusion to poor victims of the 95% club.
 
oildaytrader said:
Hi

I have bought 30 books on trading over the last 10 years.The information I got from these books is no better than information freely available on the net.Unfortunately books are written by people who make a living from writing books, they do not make a living from trading.

95% traders lose and these authors are 95% of the club

None of the thirty books clearly explains the way to profitability.They write theories on how to make money, if only these authors knew how to , they do not know how to make money from trading.Their theories do not work.

What is your view?

My favourite and most useful book is "Trading currency cross rates "

Most of the other books were written by useless traders , and I learnt nothing from them.
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You are right dude..
In present scenario net is the best source to get information about anything....
 
What was that 70s song - it went sort of -

Don't trust the man who spreads the burning sand with water, cool clear water

might have been talking about trading or maybe a fore-warning of that phoenix Tony B liar ?
 
i haven't properly traded with real money yet but the fact is that nothing out of a book has helped me. sure they can give you rules and methods which make you money in the mean time, but don't markets change? what happens if something stops working? fine for the guy who made the rules, maybe he created them from a deep understanding of markets and so he can adapt, but for the sheep they can't figure out how to adapt because they haven't learnt anything from real experience but just from a book and so they don't understand how markets work and can't create rules from their own observations
 
TAjammy said:
what happens if something stops working? fine for the guy who made the rules, maybe he created them from a deep understanding of markets and so he can adapt, but for the sheep they can't figure out how to adapt because they haven't learnt anything from real experience but just from a book and so they don't understand how markets work and can't create rules from their own observations
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The sheep will need to buy another book, or course, or system, or room subscription or better still stop being sheep :LOL:
 
zupcon said:
The sheep will need to buy another book, or course, or system, or room subscription or better still stop being sheep :LOL:
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The scammers will plagiarize books , make clones of books, rename them and rebrand them.The sites like scamazon will delete bad reviews and only publish the lies.

The system scammers will plagiarise systems,make clones ,rename systems and rebrand freely available systems.They will appear on Zulucollective system sellers sites.

The training scammers will hang around the net offering training education.If only how they knew how to trade themselves.Why not give them a book with the game plan?
 

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oildaytrader said:
The scammers will plagiarize books , make clones of books, rename them and rebrand them.The sites like scamazon will delete bad reviews and only publish the lies.

The system scammers will plagiarise systems,make clones ,rename systems and rebrand freely available systems.They will appear on Zulucollective system sellers sites.

The training scammers will hang around the net offering training education.If only how they knew how to trade themselves.Why not give them a book with the game plan?
Click to expand...



Who's that little chappy looking all happy with his lollipop? Did his Bollingers work for once?

I remember my voiced changing and deepening when my Bollingers dropped.
 
There was once a young man who, in his youth, professed his desire to become a great trader and writer.

When asked to elaborate, he said, "I want to write stuff that traders will read, stuff that traders will react to on a truly emotional level, stuff that will make them scream, cry, howl in pain and anger!"

He trades failed trends .failed breakouts and failed strategies waiting for the day indicators stop lying.:confused:
 
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