"Locked-in Range Analysis" by Tom Leksey

AlexaTosca

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Feb 3, 2018
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Tom Leksey is an initiator of the Locked-in Range Analysis method. LRA is the method of interpreting the price and volume chart to determine the direction of the prevailing volume of open positions, the imbalance of which will enlighten you to future market behavior.

The author is convinced that trading should be based on the reasons for price changes, otherwise it's Lucky-trading. The book describes the reasons for price changes of futures and the new cause-and-effect method of analysis.

This ebook may be published, reproduced or distributed for Free - Download PDF (0.7 MB)
 

t8936

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Dec 8, 2017
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#2
3 Main Mistakes of a Trader by Tom Leksey

1 Failure to understand who you are: a professional or an amateur
A professional has a command of trading technique which he can describe, apply and change.

An amateur can tell you how he works, but will never explain why.

2 Searching for the silver bullet*
*Silver bullet is a universal means that kills all demons

Without being a professional, the trader wants to make money on speculation, but he is not ready to master the principle of market organization and complex impacts; he always searches for a silver bullet which would allow to make money in one fell swoop.

This kind of trader periodically buys these magic silver bullets because there are so many available on the market.

3 No cause-and-effect system of trade
In trading, there are too many variables which implies a huge variety of possible approaches.

What can be systematized (Example: LRA), can be used, since the level of uncertainty can be, if not minimized, then significantly reduced.
 

t8936

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Dec 8, 2017
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#3
Tom Leksey articulated what everyone feels and understands, but finds it difficult to verbalize.:smart:

If you’re only starting to get acquainted with trading, this book will show you the market from the inside and help you to understand whether or not you really want to speculate.
 

dbphoenix

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Aug 24, 2003
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#5
If one understands Wyckoff, Livermore and, to some extent, Steidlmayer, what exactly is "new" about any of this?
 
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t8936

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Dec 8, 2017
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#7
If one understands Wyckoff, Livermore and, to some extent, Steidlmayer, what exactly is "new" about any of this?
Wyckoff, Livermore and, to some extent, Steidlmayer say nothing about the market-making system and an open positions analysis. Their information is no longer relevant after the launch of CME GLOBEX since 1992. CME Globex was introduced in 1992 as the first global electronic trading platform for futures contracts. And the rules also changed:clap:
 

dbphoenix

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Aug 24, 2003
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#8
Wyckoff, Livermore and, to some extent, Steidlmayer say nothing about the market-making system and an open positions analysis. Their information is no longer relevant after the launch of CME GLOBEX since 1992. CME Globex was introduced in 1992 as the first global electronic trading platform for futures contracts. And the rules also changed:clap:
Actually, they do. You should study their work. So far you've provided nothing in terms of trade signals and trades that they didn't address a hundred years ago.
 

lastmango

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Sep 30, 2018
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#9
Actually, they do. You should study their work. So far you've provided nothing in terms of trade signals and trades that they didn't address a hundred years ago.
I would like to see what you mean by "they do." In what ways is algo driven market making addressed by the old masters? You might be right, butI don't see it yet. Please explain.
 

barjon

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May 6, 2003
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#11
I would like to see what you mean by "they do." In what ways is algo driven market making addressed by the old masters? You might be right, butI don't see it yet. Please explain.
Have you ever heard of supply and demand? Doesn’t matter if it’s from a human being, an algorithm, or a creature from outer space.
 

barjon

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May 6, 2003
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#15
Could you consider writing a post with some useful content? Please, I'm asking nicely. The hot air in your posts is interfering with people asking sincere questions.
Apologies, I thought your question to db was sarcastic. I was trying to say with perhaps a warped sense of humour that the market is still driven by supply and demand as it was 100 years ago.