Haven't read this book but read some of the others in his suite. At first, I liked them, but now has changed my mind a lot. Every book he accompanies with words "it will change your life" and suchlike, yet all books are written in a way to promote other books, seminars and personal training. Perhaps, if you take personal training you will get something really useful, but everything else...I don't know.
Judging from the books that I have seen all his methods are VERY VERY SUBJECTIVE. It is impossible to blame Joe Ross for anything because he can always say one of the following: a) you applied the method to wrong market or wrong TF b) you used wrong stops (and nobody in the world can say where exactly they should be), c) you need to read another of his books or go on training, d) your psychology has spoiled everything, e) you were under-capitalized....
Surprisingly, very few people give their opinion on this or any other forum...
Judging from the books that I have seen all his methods are VERY VERY SUBJECTIVE. It is impossible to blame Joe Ross for anything because he can always say one of the following: a) you applied the method to wrong market or wrong TF b) you used wrong stops (and nobody in the world can say where exactly they should be), c) you need to read another of his books or go on training, d) your psychology has spoiled everything, e) you were under-capitalized....
Surprisingly, very few people give their opinion on this or any other forum...
I guess, one can find the source... but I am not very concerned with it anymore.
I have always tried to formalize what I see and trade, perhaps, write a computer program of some sort to test ideas or at least logical consistency and Ross's patterns are very ... stubborn at it... to say the least.
And his "trader's trick entry" is a very dangerous way to manage capital unless you are backed up by really high expectancy of your trades, which is difficult to check for the reasons given above.
I have always tried to formalize what I see and trade, perhaps, write a computer program of some sort to test ideas or at least logical consistency and Ross's patterns are very ... stubborn at it... to say the least.
And his "trader's trick entry" is a very dangerous way to manage capital unless you are backed up by really high expectancy of your trades, which is difficult to check for the reasons given above.
dbphoenix
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Or you leave out support and resistance, which is regularly done. This leads to a near-obsession with counting "bars" and such. Silly.
Thanks for the info guys.
I like the idea of spread trading due to it's possible low(er) risk. I'd be interested in learning the basic concepts ot it. I've never heard of Dunnigans one way formula.
Is it a price based system or something more seasonal trend perhaps?
Cheers
C
I like the idea of spread trading due to it's possible low(er) risk. I'd be interested in learning the basic concepts ot it. I've never heard of Dunnigans one way formula.
Is it a price based system or something more seasonal trend perhaps?
Cheers
C
