First, my title is Horrible so I will explain. I have read many post by day trading newbies asking similar question only to get hate mail.
I want to be clear what I mean by system, so please read my entire post before sending the hate mail. Unfortunately, I do not know how to explain what I am looking for in a quick manner.
In this post I will explain what I am not looking for and what I am looking for.
I and I doubt other Newbies are looking for the Red Light Green Light System being sold on CNBC. Seriously if that system worked the people selling the system would be using the system and living on their own private Island sipping drinks with umbrellas in them.
System was a horrible word, but could not think of any quick words to describe what I am looking for, maybe teacher.
When I use to work for a corporation for a living they would team up an experienced person as a mentor to a new person. It was called the Mentorship program. Once the new person learned the system, then they could start developing their own quarks and even a new improved system.
I read post here from newbies who have spent thousand on system that do not work.
And I have read many post here. In many of the post only the teacher can (self-proclaimed) make money after teaching their method. Therefore, what good is it? I understand people say you have to learn price action, which takes time. Well then the teacher should over time be able to teach price action to the student to the point the student becomes profitable.
There is nothing more discouraging than spending 100s of hours trying to learn and never being profitable. Which is why most newbies just give up. And it is extremely difficult just to start from scratch and figure it all out on your own.
I will give example of what I think is totally unhelpful after reading hundreds of post from various authors. I see authors here describing their method (maybe a better word than system). I do not mind how complicated the method is. But here is what I do mind. I see an author throw up a chart and say if you went long here or short here you made money. Anyone could throw up a chart and do that in hindsight. A lot harder to do it in Real-Time as the indicators and /or bars are being drawn with Real Money and Ask and Bid and etc. And when the student (person following the thread) post a picture where the method failed the author comes back with some insane once in blue moon answer. Like the planets where aligned at that second. It is one thing to get a clear answer that you can then apply to other trades, but sometimes the answers just seem like there is no real justification for not taking the trade, except that it would have in hindsight been a loser.
Or worst than that I read one Author who lays out his system and then when a student post a clear as day chart showing the trade failed, the author comes back and says the MA was pointed in the wrong direction and you should have not taken the trade. The problem is the picture clearly showed the MA was indeed pointing in the right direction and the author never responds to the student when they point that out. I could have accepted well that trade was a loser or a reasonable price action answer. An answer you could learn from and effectively apply to your next trade. Note I say reasonable price action answer, because giving some silly reason (planets lined up at that time) that no one can follow only supports a system that does not work and no one can duplicate.
So what I am asking is 2 things
1) Looking for Suggestion from other newbies who came to this site and tried to follow different authors. Is there one that taught his system, answered your question intelligently and after spending time, learning the authors indicators and / or price action techniques, you were able to trade it profitable for a sustained period of time including bear, bull and sideways markets with Real Money?
2) Challenge to Big Mike - I see you have had different competitions. I am suggestion a new competition. …