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@People who make money: John Person + Tom DeMark

  • #1
  • First Post: Dec 31, 2006 8:20am Dec 31, 2006 8:20am
For those that CONSISTENTLY make money and have read books by John Person and Tom DeMark, I'd like to know your opinions on their info.

I'm almost finished with John Person's "Candlestick And Pivots" and I want to read DeMark's stuff next, but I don't know which of his two books - DayTrading Options or New Science - I should read first. Any thoughts?

Also, I've read John Carter's "Mastering The Trade", which was awesome...


I'm just trying to build a few good, simple setups so I'm gathering info here. Right now, I'm just trading price action triggers with confluence, which works like a charm - but I'd like to expand my arsenal, you know.

Please, I'd like comments from people who know what I'm talking about and do really make money - but not off of some cheap MA crossover system that gets killed in choppy markets, haha.

Thanks a lot.
  • #2
  • Dec 31, 2006 2:26pm Dec 31, 2006 2:26pm
Quoting Skyhr
..Tom DeMark's New Science ...
Also, I've read John Carter's "Mastering The Trade", which was awesome...
Hi Skyhr, and happy New Year. I've read both of the above and reference them often throughout a given trading week. Both excellent reads.

: ) Thom
  • #3
  • Dec 31, 2006 3:17pm Dec 31, 2006 3:17pm
Quoting Skyhr
Please, I'd like comments from people who know what I'm talking about and do really make money - but not off of some cheap MA crossover system that gets killed in choppy markets, haha..
You wouldn’t happen to be referring to 4x madeeasy now would ya?
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  • #4
  • Jan 1, 2007 3:20am Jan 1, 2007 3:20am
Yeah, so I decided to buy "New Science" by Tom DeMark since it was published two years after "Day Trading Options"

I'm a little excited by the prospect of using TD indicators, I know they're complicated, but whatever. I'm thinking I should read more systems - know I won't use all of them, if at all, but I know it'll still be interesting.

The thing with some systems, in my opinion, is that they're all some form of level trading - like the Sniper channel and median combined with candlestick to determine direction and trigger, fib clusters with price action, pivot levels with price action, etc...

I'm trying to take my trading into a whole new level, though. Any comments from people who know what I'm rambling about?

Thanks a bunch!
Also, happy new year! This year's gonna be totally green!
  • #5
  • Jan 1, 2007 3:32am Jan 1, 2007 3:32am
How do you want to trade? With somone elses system or with your own discreationary or mechanical system?




Quoting Skyhr
Yeah, so I decided to buy "New Science" by Tom DeMark since it was published two years after "Day Trading Options"

I'm a little excited by the prospect of using TD indicators, I know they're complicated, but whatever. I'm thinking I should read more systems - know I won't use all of them, if at all, but I know it'll still be interesting.

The thing with some systems, in my opinion, is that they're all some form of level trading - like the Sniper channel and median combined with candlestick to determine direction and trigger, fib clusters with price action, pivot levels with price action, etc...

I'm trying to take my trading into a whole new level, though. Any comments from people who know what I'm rambling about?

Thanks a bunch!
Also, happy new year! This year's gonna be totally green!
  • #6
  • Jan 1, 2007 6:06am Jan 1, 2007 6:06am
Rules #1
- If you are making money, stay like that(Price Action)...

I'll say, if you add TD stuff to your arsenal, TD is really a good thing... But be sure to concentrate on is stuff and forget the others...

I just dont understand why people want so much to learn new stuff...
I use only Price Action with volume, recently i added OBV and MFI, since FX is more volatile.
If you make money, why get more info to get more confused...
But, its just me...

Mantra:
Learn the basic, master it, and if you need other tools, then you're not a master.
Sorry for my bad english translation
  • #7
  • Jan 1, 2007 6:44am Jan 1, 2007 6:44am
Quoting Skyhr
For those that CONSISTENTLY make money and have read books by John Person and Tom DeMark, I'd like to know your opinions on their info.

Please, I'd like comments from people who know what I'm talking about and do really make money - but not off of some cheap MA crossover system that gets killed in choppy markets, haha.

Thanks a lot.
In March, John Person's new book comes out ("Forex Conquered"). I was able to read an advance copy, and it's really, really good. If you're looking for a next read, and you've already have liked what you read from John Person, I recommend that you get this one too.
  • #8
  • Jan 1, 2007 7:45pm Jan 1, 2007 7:45pm
i read his candle stick and pivot point. how do you set up his MA ave on MT4 platform. How do you set up a MA on piviot points thanks
  • #9
  • Jan 1, 2007 7:53pm Jan 1, 2007 7:53pm
Quoting Skyhr
For those that CONSISTENTLY make money and have read books by John Person and Tom DeMark, I'd like to know your opinions on their info.

I'm almost finished with John Person's "Candlestick And Pivots" and I want to read DeMark's stuff next, but I don't know which of his two books - DayTrading Options or New Science - I should read first. Any thoughts?

Also, I've read John Carter's "Mastering The Trade", which was awesome...


I'm just trying to build a few good, simple setups so I'm gathering info here. Right now, I'm just trading price action triggers with confluence, which works like a charm - but I'd like to expand my arsenal, you know.

Please, I'd like comments from people who know what I'm talking about and do really make money - but not off of some cheap MA crossover system that gets killed in choppy markets, haha.

Thanks a lot.
Happy new year, bro...

Bro, read the new science. may i suggest u? read from back to front (chapter by chapter).
  • #10
  • Jan 1, 2007 9:42pm Jan 1, 2007 9:42pm
Quoting robbooker
In March, John Person's new book comes out ("Forex Conquered"). I was able to read an advance copy, and it's really, really good. If you're looking for a next read, and you've already have liked what you read from John Person, I recommend that you get this one too.
Somebody else has a book coming out soon that I just pre-ordered...
Mr. Trend
  • #11
  • Edited 11:31pm Jan 1, 2007 10:46pm | Edited 11:31pm
Quoting Skyhr
For those that CONSISTENTLY make money and have read books by John Person and Tom DeMark, I'd like to know your opinions on their info.

I'm almost finished with John Person's "Candlestick And Pivots" and I want to read DeMark's stuff next, but I don't know which of his two books - DayTrading Options or New Science - I should read first. Any thoughts?


Thanks a lot.
Shyhr,
You might rather want to consider reading T. DeMarker's book

New Market Timing Techniques: Innovative Studies in Market Rhythm & Price Exhaustion

Somewhat technical, but you get much from it if look for the principles behind his theory. The whole concept of rhythm and price exhaustion works well in forex.
  • #12
  • Jan 2, 2007 10:44pm Jan 2, 2007 10:44pm
Quoting laodeabdul
Happy new year, bro...

Bro, read the new science. may i suggest u? read from back to front (chapter by chapter).

@laodeabdul:
Really? Thanks for the suggestion, but why should I read it backwards? Will I understand it better?

@Robbooker (whoever you are , saw a video of you ) :
Yeah, I saw his new book on amazon, and the title is especially enticing. I'm almost finished with his 2nd book, so I'd like to know if there's any new info? Most of his info is on pivots, typical price MA, candlesticks, filtering out R/S pivot levels, and over confirmation and getting the meat of the move and not the entire thing. Well, that's my take on it. So how was his 3rd book different? I think I really will read it, but of course I don't have the early copy.

@zeozere:
I think you have a valid point, but the reason people want to learn more is to recognize opportunities, which essentially means more money in less time; of course, you will still lose money but if you focus on these setups and not the money, you should make more money - again just faster, because you will recognize more entry possibilities than before.

@kudzufx:
Yeah, I also noticed that book too by Tom DeMark. I chose "New Science" because it was published the latest.
>New Science : 2001
>Day Trading Options : 1999
>New Market Timing : 1997

And you know how sometimes authors rehash the meat of their info so I thought a revised book on his indicators would be the best option (terrible pun, if anyone got that, haha)

Thanks a lot you guys, and seriously this year is gonna be OUR year!!!
  • #13
  • Jan 5, 2007 4:25am Jan 5, 2007 4:25am
New Science wasn't written in 2001. It was written by demark back in 1994. Maybe they made a new copy, but the material should be the same. The latest one is the day trading option. Still none of his books are solely intended for forex, but I've been testing TD Seq with promising results, although the recycle theory was quite a pain.
There seems to be some newsletters or sort of written by Demark by the currency trader magazine which are intended specifically for forex market.
I am dedicating myself to learning Demark's method. It's very technical and quite hard for beginner though, nevertheless, should not discourage you from reading.
  • #14
  • Jan 5, 2007 10:24am Jan 5, 2007 10:24am
I have noticed that most of the people that say that they make money from trading are selling signals, courses, e-books, etc, etc. So what I think is that they are actually making money from selling their services and they do not trade (or trading has just become a small source of their income). They just live from their fame.

But is there actually somebody making a good living from trading Forex? I mean, their income comes 100% from their own trading, and NOT from selling their e-books, their systems, their signals, courses, etc.

So far, every guy/girl I have met, that have said that he/she makes a great living in this business always refers me to his/her website where he is selling something. I have yet to see a successful trader that is happy with what he is making from his own trading and does not has to look for additional income sources.
  • #15
  • Jan 5, 2007 7:33pm Jan 5, 2007 7:33pm
Quoting alcastro
I have noticed that most of the people that say that they make money from trading are selling signals, courses, e-books, etc, etc. So what I think is that they are actually making money from selling their services and they do not trade (or trading has just become a small source of their income). They just live from their fame.

But is there actually somebody making a good living from trading Forex? I mean, their income comes 100% from their own trading, and NOT from selling their e-books, their systems, their signals, courses, etc.

So far, every guy/girl I have met, that have said that he/she makes a great living in this business always refers me to his/her website where he is selling something. I have yet to see a successful trader that is happy with what he is making from his own trading and does not has to look for additional income sources.
Would it change anything for you if you did meet someone who made their living from trading and had nothing to sell?
Secret Identity: Bill Sullivan
  • #16
  • Jan 5, 2007 11:41pm Jan 5, 2007 11:41pm
Quoting Captain Piptastic
Would it change anything for you if you did meet someone who made their living from trading and had nothing to sell?
It would change a lot. It would give me hope that there could be a life doing this. So far I have not met the first guy who is succesful at this (as self-employed) and is not trying to sell me something.
  • #17
  • Jan 5, 2007 11:50pm Jan 5, 2007 11:50pm
Quoting alcastro
It would change a lot. It would give me hope that there could be a life doing this. So far I have not met the first guy who is succesful at this (as self-employed) and is not trying to sell me something.
Thats because the people who are trading for a living are not out self promoting, so you don't hear about them.
  • #18
  • Jan 6, 2007 12:40am Jan 6, 2007 12:40am
I see... Maybe I should've bought the DayTrading book for more detail on TD indicators - but I'm hoping since New Science is republished, it'll fill in the necessary detail gaps.

There're so many systems - *sigh*, want to take advantage of them, haha.

I still haven't tried Diallist's Knife... still trying out my confluence + trigger = trade method (not really a method, and pretty self-explanatory)
  • #19
  • Jan 6, 2007 6:55am Jan 6, 2007 6:55am
Quoting alcastro
It would change a lot. It would give me hope that there could be a life doing this. So far I have not met the first guy who is succesful at this (as self-employed) and is not trying to sell me something.
Alcastro, you've brought up a great point! Can you tell me:

what would you want to know from some of these traders? What kind of questions would you like to ask these traders? Can you list some of those questions here?

I will ask these questions to some friends who trade for a living, but who do not sell anything. They could answer those questions and then write you directly an email. They're not going to teach you what they do for free (which is NOT what you are asking, I understand that). Then, after you get the emails, I will also post their answers here and you can verify that you received an email from them as well (lest people believe that the answers are all made up). I'd prefer that the answers posted here (but not in an email to you) are anonymous because as you say, these people are not out to sell anything and they are not going to want a flood of emails -- because they're not out to sell anything and they're not going to be compensated for their time.

I have at least three people in mind that will be happy to answer any questions you have.

If you and others are interested about this, alcastro, can you send me a private message with your contact details?
  • #20
  • Jan 6, 2007 10:53am Jan 6, 2007 10:53am
Quoting alcastro
It would change a lot. It would give me hope that there could be a life doing this. So far I have not met the first guy who is succesful at this (as self-employed) and is not trying to sell me something.
There. Now you've met one. I don't have anything to sell either. So now you know that I can do it but what does that have to do with you? It doesn't mean you can or that you cannot succeed.

Anything dramatically change for you just now?
Secret Identity: Bill Sullivan
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