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Traders Needed for New Book!

  • #41
  • Oct 30, 2006 8:21pm Oct 30, 2006 8:21pm
Quoting KathyLien
Hi Everyone! Boris and I are writing a new book that will be like a Market Wizards for the little guy. The working title is Millionaire Traders - How Everday People are Beating Wall Street at its Own Game.

This book will focus on the human aspect of trading like how people got started, stumbling blocks, how to do taxes, worst trade/best etc.

We need more people to interview and not just in FX, also in equities, options and futures.

You do not actually have to have made one million dollars in the market but you must be a successful and profitable retail trader with at least 2 years of consistent positive returns. All confidentially will be completely respected and your names identities and trading styles will not be revealed if you so choose. We don't care if you hold trades for a second or for a month. We want to talk to you!

Please email us if you are interested in participating or know of anyone who would be. Our email address is [email protected]
It's great to see you posting at Forex Factory. I'm still relatively new trading forex but I have heard only good thing about you.

I'm sure you can find the kind of traders that you need for your book. I don't know how big their trading accounts are but there are quite a few good traders out here.
I'll be looking forward to your new book, Kathy!
  • #42
  • Oct 31, 2006 1:41am Oct 31, 2006 1:41am
The guy taking the other side of my trades is a badass. You should interview him.
How you act is more important than how you feel.
  • #43
  • Oct 31, 2006 2:05am Oct 31, 2006 2:05am
Quoting Warmagus
The guy taking the other side of my trades is a badass. You should interview him.
*laughs - rolling on the floor*

good one!
  • #44
  • Oct 31, 2006 2:10am Oct 31, 2006 2:10am
On a more serious note...i would love to see pipcrawler's work and interviews on the new book...
  • #45
  • Oct 31, 2006 5:11am Oct 31, 2006 5:11am
Quoting merlin
has anyone mentioned narafa yet? he is an excellent fundies trader.
Thanks Merlin for mentioning my name...I don't think that I am that successful to qualify for such a thing...There are far more successful traders in this world than me...

Why do you think I am a fundies trader?? Is it because we used to debate about trade ideas from the fundamental point of view??? Actually, I don't trade based on fundamental information, so you can't say that I am a pure fundies trader, but let's say that I strongly consider fundamental information but never trade off-them...I trade using charts my friend...Maybe I am a hybrid or something but what I am sure of is that I am not a fundy LOL...


Thanks,

Nader
  • #46
  • Oct 31, 2006 7:51pm Oct 31, 2006 7:51pm
Hi Kathy,

Would you be willing to post a sample of the "Interview Questionaire"?
  • #47
  • Oct 31, 2006 9:18pm Oct 31, 2006 9:18pm
Quoting Bemac
Hi Kathy,

Would you be willing to post a sample of the "Interview Questionaire"?
I'll have my people look it over and get back to you. :
  • #48
  • Oct 31, 2006 10:00pm Oct 31, 2006 10:00pm
You may have addressed this already. However, in every field including trading, there are very many well educated "posers". People who can talk the talk with anyone, but they never ever walk the walk.


How do you propose to correctly verify that your book's subjects are truly successful and not "blow-hards"? I would very much want to read material on the subject you propose, if the traders are appropriately screened.

Good luck with your book.
  • #49
  • Nov 1, 2006 2:28am Nov 1, 2006 2:28am
Quoting KathyLien
I think what people forget is that the smart thing about using strategies is to know which market environment to use them. Certain strategies are rangebound strategies, others are trend following. Obviously, rangebound strategies will not backtest right in trending environments and vice versa. Blindly backtesting without qualifying market environment may have you missing out on some solid strategies. We have traded all of the strategies that we include in our books before publishing them.
Whilst I accept this is true, I believe this leads to the more difficult problem of devising a reliable strategy to classify mkt conditions as trending or rangebound for both testing and trading. Supposing you have devised a method tailored for trending conditions, then one would need to classify current conditions as a trending mkt before deciding to trade. To do this most techniques require a trend to be in existence before conditions can be classified and then you run the risk of being whipsawed and catching only the end of the trend before the often fast pullback occurs leaving you at breakeven or worse. Clearly the same argument would be true for systems tailored for rangebound mkt conditions but in reverse. Maybe I'm missing something but in my experience it is more of a technical challenge to devise a reliable strategy to qualify the mkt environment than it is to devise a strategy to exploit that environment once it is known.
  • #50
  • Nov 1, 2006 8:00am Nov 1, 2006 8:00am
I just have to get it out. If you say your strategies must be applied to the correct market conditions, it's fine, but then when selling a book on trading strategies you must also include your criteria for determining market conditions or you have to clearly claim that your strategies only work with discretion and experience. I read High Probability Trading Setups by you and Boris. My understanding is that a high-probability setup should succeed more often than fail without any degree of discretion. If you dismiss the value of backtesting, what criteria do you use when deciding which setups are of high probability and which are not? Is it that those setups are only of high probability when combined with discretion?

Healthy skepticism should be encouraged, not discouraged. Just because Tradermaji is new to the forum doesn't mean that he doesn't have the right to challenge anyone else. Just because Kathy Lien seems to be a highly acclaimed author doesn't mean that nobody could challenge her points.
  • #51
  • Nov 1, 2006 8:25am Nov 1, 2006 8:25am
Quoting richp
Whilst I accept this is true, I believe this leads to the more difficult problem of devising a reliable strategy to classify mkt conditions as trending or rangebound for both testing and trading. Supposing you have devised a method tailored for trending conditions, then one would need to classify current conditions as a trending mkt before deciding to trade. To do this most techniques require a trend to be in existence before conditions can be classified and then you run the risk of being whipsawed and catching only the end of the trend before the often fast pullback occurs leaving you at breakeven or worse. Clearly the same argument would be true for systems tailored for rangebound mkt conditions but in reverse. Maybe I'm missing something but in my experience it is more of a technical challenge to devise a reliable strategy to qualify the mkt environment than it is to devise a strategy to exploit that environment once it is known.
While your objection is 100% valid, I think the point she is making is that in backtesting, a "ranging" technique can be grossly over-qualified if backtested in a trending market, or a range to trend condition. As well, a trending system can be grossly under-qualified if back tested in a trend to range or a straight range condition. The vise-versa is also true.

Everything needs to be validated in it's proper perspective of market conditions as well as timeframe.

Obviously her comment will not apply to all traders across the board. Trenders have a tendency to stay in that frame of mind and rangers love the range and hate large moves. There are few, to be honest, traders who excel in both conditions. Once a system or strategy has been classified into it's proper perspective, then it can be tested or utilized in it's proper methodology. Anyone who claims that they have been using a single system ALL the time and it has never failed....is full of crap.

Now, from what I've interpreted from her comments myself, is that TOO MUCH detail to backtesting can also be a bad thing. Which I've always felt myself. I've known guys who are SUCH backtesting freaks, that they never settle on any system regardless of how much success it has proven in real life. I'm always being asked for backtesting results for the SIMPLE FOREX SYSTEM....why would I have backtesting results?! That crossover method is pratically as old as MA's themselves! I just modified it to help filter the added liquidity of the forex market Vs. the stock market where I originally learned it. You don't need to backtest strategies that have been in existence for ages UNLESS you are trying to learn them. You're backtesting results will not prove, nor disprove the effectiveness of any one system...only time will.

When the human factor is added to ANY strategy, it will either result in success or failure.

BTW, thanks MrGreen, diallist...appreciate the comment.
Capital Preservation is key to long term wealth accumulation
  • #52
  • Nov 1, 2006 10:19am Nov 1, 2006 10:19am
Quoting freebies
I just have to get it out. If you say your strategies must be applied to the correct market conditions, it's fine, but then when selling a book on trading strategies you must also include your criteria for determining market conditions or you have to clearly claim that your strategies only work with discretion and experience. I read High Probability Trading Setups by you and Boris. My understanding is that a high-probability setup should succeed more often than fail without any degree of discretion. If you dismiss the value of backtesting, what criteria do you use when deciding which setups are of high probability and which are not? Is it that those setups are only of high probability when combined with discretion?

Healthy skepticism should be encouraged, not discouraged. Just because Tradermaji is new to the forum doesn't mean that he doesn't have the right to challenge anyone else. Just because Kathy Lien seems to be a highly acclaimed author doesn't mean that nobody could challenge her points.
Hi freebies,

You articulate your points very well. And you are more than welcome to debate your topic. But please start another thread. Your post, as excellent as it is, is simply off topic for this thread as it has nothing to do with selecting possible candidates for Kathy's upcoming book.

Thanks!

Dial
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  • #53
  • Aug 22, 2007 3:12pm Aug 22, 2007 3:12pm
i see that kathy's new book is out next month -

http://www.millionairetradersbook.com/

anybody pre-ordered it?

did anybody actually interview from FF? i think the firs person they should of asked was jacko...
  • #54
  • Aug 22, 2007 3:18pm Aug 22, 2007 3:18pm
Quoting Isotonic
i see that kathy's new book is out next month -

http://www.millionairetradersbook.com/

anybody pre-ordered it?

did anybody actually interview from FF? i think the firs person they should of asked was jacko...
thanx for the update mate I would have forgot all about it...
  • #55
  • Aug 22, 2007 3:40pm Aug 22, 2007 3:40pm
Quoting turbokaos
thanx for the update mate I would have forgot all about it...
i might have to pick up a copy, looks interesting
  • #56
  • Aug 22, 2007 3:54pm Aug 22, 2007 3:54pm
Quoting Isotonic
i see that kathy's new book is out next month -

http://www.millionairetradersbook.com/

anybody pre-ordered it?

did anybody actually interview from FF? i think the firs person they should of asked was jacko...
Yes Isotonic I am in the book. I guess you missed the thread where i offered it for free to certain members and gave a description of my interview. I hope you find my section on "News Trading" interesting.

Regards,

Roland
  • #57
  • Aug 22, 2007 4:03pm Aug 22, 2007 4:03pm
Quoting Isotonic
i see that kathy's new book is out next month -

http://www.millionairetradersbook.com/

anybody pre-ordered it?

did anybody actually interview from FF? i think the firs person they should of asked was jacko...
off to the library...
  • #58
  • Aug 22, 2007 4:33pm Aug 22, 2007 4:33pm
Hmm... When ever you decide to write a new book about "A hundred way to lose in trading" Let me know and just to let you know, I am not a little guy when it comes to finding way to lose.
  • #59
  • Aug 22, 2007 5:53pm Aug 22, 2007 5:53pm
Miss Lien

Is it possible if you and your partner could come out with a book, of strategies for people who have mini accounts and only deal in one currency at a time . I relize this might be small time for you with your expertise. But alot of small time traders like myself would gladly buy a book that could show this. But showing how a small time trader can use strategies useing one currency pair and only tradeing one lot or two at a time. Plus keeping it at a good low price beside ( the book ) . Its about as simple as I can put it.

Well thank you for your time.
And it is a pleasure to meet you

Larry Liles
  • #60
  • Aug 22, 2007 6:16pm Aug 22, 2007 6:16pm
I'm not there yet.

Maybe I'll make Lien Wizards Vol 2.

Anyhow - Great job at DailyFX.

Great reads.

Lucid and always applicable.
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