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as i have read your post, i was stuck with this phrase "I particuliarly like the fact that he told all of the beginners that 90% of people who attempt trading 10% who have been successful. And i believe that you are a great trader, can you please tell me some good things to start when you are just starting with this? thank you so much. i will be waiting for the reply!
Can you help answer these questions from other members on NexusFi?
I had explained that it is a displaced SMA(3) as you confirmed above. Displaced moving averages were widely used 10 or 20 years ago, and they still are excellent trend filters. For example Joe diNapoli used them as well, for example
3X3 -> a SMA(3) displaced by 3 periods, would be the MomDots further displaced by two fields
7X5 -> a SMA(7) displaced by 5 periods
25X5 -> a SMA(25) displaced by 5 periods
These are useful trend filters or stop lines. Trigger lines - which are moving linear regression indicators or the SuperTrend, which uses both direction and volatility are other alternatives.
The chart below shows trigger lines versus the three displaced moving averages.
I think people have shared experiences in this thread already. You can also try @cunparis, I believe he used to be a member of this vendor's trading room.
nobody really shared experience about his paid trainings or training courses, only about his free blog and he doesn't have trading room. Thats why I'm asking, during year or so of this thread existance non of his students spoke up.
I believe the reason that 90 % of people fail that attempt to trade is.......that they don't respect trading......they think because they have been successful in some other endeavour in their life that they will conquer trading with the same skill set that brought them their past success........sadly...the skill set in NOT transferable to trading. You need to develop a whole new skill set....this takes time. You need an excellent education in trading......but how to get it? Ultimately....you teach yourself.....you have to find out what type of trading is suitable for YOU. What market, scalping or swing etc.
Also.......while you are learning......don't use real money.......unless you are extremely wealthy....then do whatever you want. Most people only have a limited amount of "risk" capital........if you use all of your risk capital while you are learning....there won't be any left at the end of the learning process.
Before you risk real money demostrate that you have an "edge"........then perhaps there is a chance that you will succeed.
Jeff, I d like to add a quotation from Brent Penfold, that I belive is quite true:
=> 90% of traders loose due to ignorance, gullibility and laziness. Period.
This thread has been going for almost a year and not a single person who took the ElectronicLocal training (and therefore is in a position to actually KNOW something) has posted anywhere on the WWW that I can find. Nothing. Not a word. Neither a good word nor a bad word about the ElectronicLocal trading class. Are his students all so successful now that they're jealously guarding their secrets? Or are they failures, not wanting to admit that they paid thousands of dollars and still can't trade for a living? It seems you can find out almost anything on the Internet these days, but the experience of even one person who took the class is nowhere to be found.