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  #31 (permalink)
 
forgiven's Avatar
 forgiven 
ashville NC
Legendary Market Wizard
 
Experience: Intermediate
Platform: nijia trader
Broker: A.M.P. I.Q. ....C.Q.G.
Trading: ym es
Frequency: Every few days
Duration: Days
Posts: 881 since Mar 2012
Thanks Given: 290
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vegasfoster View Post
I watched the 5 day video and it was pretty good. That said, the whole 5 day concept didn't make any sense to me and I didn't learn anything new, but he pulled everything together into a complete method. I wasn't especially motivated to purchase anything beyond the free info though and I also didn't care for the hard sell I got after the fact. One thing is they kept sending me subsquent emails with lower and lower prices on their training videos. I don't know if they have the same marketing strategy, but if you are interested you might try waiting a week or so after you watch the videos and see what happens, you may be able to get it for a lot cheaper.

i did not get much out of it...most of the stuff you can get free...


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  #32 (permalink)
 
TraderYoda's Avatar
 TraderYoda 
Hampshire / United kingdom
 
Experience: Intermediate
Platform: NinjaTrader
Broker: FXCM
Trading: Forex (Spot)
Posts: 71 since Mar 2015
Thanks Given: 33
Thanks Received: 40


bnichols View Post
IMO pretty much all a beginner can take away from a discussion of this sort is that different folks use different systems, and that at some point it's up to the beginner to bite the bullet and start using one and preferably several of them in order to truly grasp whereof the others speak. The value of evaluating a number of systems for one's self lies in different perspectives provided by different approaches to a common goal. IMO there are 2 seemingly contradictory sides to the issue--on the one hand it's not possible to determine whether a system is right for you based solely on other peoples' experience or advice; whereas I also believe one system is as good as another if you're willing & able to become a disciple.

[As a sidebar I should probably point out the propensity not to accept opinion no matter what the authority until one has proven it for one's self is not a universal character trait and not necessarily a good thing even if good can come from it. In fact this trait often has a downside of which I became aware while still a toddler. By ignoring repeated commands for example not to touch the hot stove, play with knives or climb onto the roof of the house I came to learn there might be no harm in accepting one's parents' advice at face value occasionally, particularly if they are screaming].

I studied a number of systems including most described on this site more or less systematically before stumbling across BB, and stuck with BB simply because it seemed to fit me and my target market (shortish time frame spot currency) best, the possibility aside that while its cost was immaterial to me it may be a factor for some. This doesn't mean I ignore components of Fat Tails, Al Brooks, Perry and other systems (e.g. particularly when trying to estimate market sentiment or pick a precise entry) because IMO the latter made a science out of these aspects of trading. Unfortunately I'm not capable of the kind of focus required e.g. to evaluate price action tick by tick for any length of time--makes me want to tear my hair out--but don't deny that others are, and thereby make an excellent living trading relatively large dollar amounts per tick for a few points at a time. There are caveats, exceptions to the rules and some degree of hand-waving in all of the systems I've tested--none of them do the trading for us--but IMO this is simply indicative of what the trader needs to bring to the table; namely, an ability gained from experience to resolve apparent ambiguity inherent in the chosen method.

To summarize, what seems obvious to me is the market is the only given. It therefore also seems obvious a system that demonstrates positive expectancy for one trader must have elements in common with another system that performs as well for another trader. In other words, the debate over which system is superior reminds me of the debate between the blind men over the characteristics of the same elephant, in that all systems attempt to make sense of the same thing yet from somewhat different perspectives. For example, it seems to me qualitatively that Al Brooks microtrend breakouts, H/L 1&2 refer to approximately the same phenomena as BB's mini divergences in stochastics. In general it's not the difference in detail that matters as much as whether the approach strikes the proper chord in the brain of the trader, promotes objectivity within a trader's field of perception.

ETA: I want to add as an addendum that for me the process of learning a system, perhaps becoming a "disciple", has been iterative rather than a one-step process. While trading a system causes changes in the brain that reinforce original learning and improve execution I also forget things and pick up or resume bad habits that degrade performance, and a periodic review of all the systems I have some knowledge of helps determine whether I'm backsliding, often explains why profits are beginning to degrade. In addition, when reviewing the material I pick up nuances that I missed the first time through that contribute to the system's edge, and seem to come away with a deeper appreciation of what I thought I already knew. While in the early days I dismissed MACD and stochastics as beginner tools, too simple for Serious Traders, these days I'm almost in awe of them. This is as true of BB as Al Brooks' system, IIRC Brooks himself making a claim something to the effect that the amount of information in a 5 minute chart is far vaster than he can use. I'm guessing the treasure trove of info may not have been apparent to him the first time he looked at a chart


@bnichols

Excellent points /opinions!!

Thanks very much


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  #33 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
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Swing Trader
 
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  #34 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,703 since Jun 2009
Thanks Given: 33,433
Thanks Received: 102,306

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Again, if anyone is aware of copyright content within this thread, please report it to us through proper channels of a) Report Post tool, or b) [email protected] with the direct link to the post(s) so we can take action.

Mike




Join the free Markets Chat beta: Real-time Trading Insights

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
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  #35 (permalink)
 
Devil Man's Avatar
 Devil Man 
Fort Lauderdale
Legendary / Stochastic Calculus is not your friend
 
Experience: None
Platform: Ninjatrader, Python API
Broker: CQG
Trading: Nasdaq and Crude futures
Posts: 891 since Oct 2009
Thanks Given: 3,557
Thanks Received: 1,599


Big Mike View Post
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Again, if anyone is aware of copyright content within this thread, please report it to us through proper channels of a) Report Post tool, or b) [email protected] with the direct link to the post(s) so we can take action.

Mike

@Big Mike very strange you received the DMCA takedown after 8 years since the last post.....smh


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  #36 (permalink)
 
forgiven's Avatar
 forgiven 
ashville NC
Legendary Market Wizard
 
Experience: Intermediate
Platform: nijia trader
Broker: A.M.P. I.Q. ....C.Q.G.
Trading: ym es
Frequency: Every few days
Duration: Days
Posts: 881 since Mar 2012
Thanks Given: 290
Thanks Received: 604

I have noticed in the last few months , post showing up on vendor review threads that have been quiet for several years . The post are generally glowing from a past customer . When i challenged the reviews the posters had reactions unlike a normal member . I think trading course and software sales have dried up and a clean up on isle 6 is well underway . Burns has been selling his courses and software for over 25 years , the reviews across all trading forums on his work is very bad . The reviews on this forum have saved new traders millions from dishonest trading vendors . Big Mike if you are reading this , never give in to pressure on free speech .


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