@People who make money: John Person + Tom DeMark | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Tom demark Trendlines 329 replies

Anyone following Tom DeMark's methods? 2 replies

Mouteki vs Tom Demark 2 replies

Tom Demark differential indicator 0 replies

Is there a lvl2 Tom DeMark points indicator 15 replies

Attachments: @People who make money: John Person + Tom DeMark
Exit Attachments

@People who make money: John Person + Tom DeMark

  • #21
  • Jan 6, 2007 12:52pm Jan 6, 2007 12:52pm
Quoting Captain Piptastic
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?
Cap, please realize that I feel what was mentioned regarding actually being successful. I've been working at being profitable for almost 3 years in forex. And there are days I've asked the same question. With all the snake oil sold in trading, I've often wondered if there would be any trading without the snake oil? A little overboard, I know, but the question still begs to be asked. So I feel for all the unprofitable traders. I've read that less the 5% of all traders are profitable. That's a darn scarey thing. So, when the road is littered with the corpses, of fallen traders, please, have a heart for those who are really, really trying to make trading work.

FT.
  • #22
  • Jan 6, 2007 1:22pm Jan 6, 2007 1:22pm
Quoting fthomas
Cap, please realize that I feel what was mentioned regarding actually being successful. I've been working at being profitable for almost 3 years in forex. And there are days I've asked the same question. With all the snake oil sold in trading, I've often wondered if there would be any trading without the snake oil? A little overboard, I know, but the question still begs to be asked. So I feel for all the unprofitable traders. I've read that less the 5% of all traders are profitable. That's a darn scarey thing. So, when the road is littered with the corpses, of fallen traders, please, have a heart for those who are really, really trying to make trading work.

FT.
I'm being more than fair. My point is quite simple. All the "feel good" stories in the world will do nothing more than make you "feel good" for a little while. In and of themselves they won't change your trading. The "feel good" mentality is why "snake oil" (your term) salesmen are successful. One way or another they prey on your hopes and fears. Whether it is the old "I just want to see others succeed" pitch or the "In just 5 minutes a day you can make enough money to tell your boss to shove it".

BTW, don't read into that. I'm not saying everyone who sells something is a snake.

I started being consistently successful when I quit worrying about what other people (brokers, big specs, small traders, scammers, etc) do or think and instead focused on sound money management, a simple, diverse, well backtested method and consistent execution.

Focus on those things. Evaluate yourself in those areas constantly. Keep a written record of your progress. Don't worry about what anyone else does.

For the record, I have met other traders who are successful. Some sell things, some don't. We have learned from one another and I consider many of them friends. However, my success is fully on my sholders and no one elses. Likewise, they do not owe their success to me in any way.
Secret Identity: Bill Sullivan
  • #23
  • Jan 7, 2007 12:06pm Jan 7, 2007 12:06pm
What about the books out there that are compilations of interviews with successful traders? Books like Market Wizards, New Market Wizards, and Elder just released a new book of interviews with successful traders?

A lot of them aren't out there selling something, just trading.
  • #24
  • Jan 7, 2007 12:12pm Jan 7, 2007 12:12pm
Quoting Captain Piptastic
I'm being more than fair. My point is quite simple. All the "feel good" stories in the world will do nothing more than make you "feel good" for a little while. In and of themselves they won't change your trading. The "feel good" mentality is why "snake oil" (your term) salesmen are successful. One way or another they prey on your hopes and fears. Whether it is the old "I just want to see others succeed" pitch or the "In just 5 minutes a day you can make enough money to tell your boss to shove it".
Best post I've read in quite some time.
  • #25
  • Jan 7, 2007 6:15pm Jan 7, 2007 6:15pm
Quoting twinchell
Best post I've read in quite some time.

Thank you Todd. That's kind of you to say.
Secret Identity: Bill Sullivan
  • #26
  • Edited Jan 8, 2007 3:31am Jan 7, 2007 8:50pm | Edited Jan 8, 2007 3:31am
.
How you act is more important than how you feel.
  • #27
  • Jan 8, 2007 1:58am Jan 8, 2007 1:58am
Quoting bigA
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
I also just skimmed through Jim Persons new book at BNoble etc. I thought I would wait on his new forex book etc..

Like bigA- I am curious about how you get moving average from pivot points. I have been pondering this technical question every since I noticed it in his book. Please help me- I do not want to have to spend $85.00 just to figure this out.

TY
  • #28
  • Jan 8, 2007 9:20am Jan 8, 2007 9:20am
Quoting Captain Piptastic
There. Now you've met one.
Make that two. Again.

But only retrospectively.
Bob. "Hindsight trading is where it's at!"
  • #29
  • Jan 8, 2007 3:39pm Jan 8, 2007 3:39pm
Quoting BobRooker
But only retrospectively.
Keep playing with the demo account Bob, you'll get the hang of it sooner or later.
  • #30
  • Jan 8, 2007 11:12pm Jan 8, 2007 11:12pm
Quoting PipRippy
I also just skimmed through Jim Persons new book at BNoble etc. I thought I would wait on his new forex book etc..

Like bigA- I am curious about how you get moving average from pivot points. I have been pondering this technical question every since I noticed it in his book. Please help me- I do not want to have to spend $85.00 just to figure this out.

TY
It's just MA based on typical price, which is (h+l+c)/3, as opposed to the default close (c).

So basically the MAs apply for other timeframes besides daily. In his book, he shows how his MAs help. There's not too much info but it's all right.

Hope that helped.
  • #31
  • Jan 9, 2007 3:55am Jan 9, 2007 3:55am
Quoting twinchell
Keep playing with the demo account Bob, you'll get the hang of it sooner or later.
I hope so Twinchell, I really do.

The problem is, after answering all of my daily correspondance, then sending out my hindsight trade plans, it doesn't leave much time for actually trading.

I think I may have to start looking at weekly charts!
Bob. "Hindsight trading is where it's at!"
  • #32
  • Last Post: Aug 8, 2008 2:55pm Aug 8, 2008 2:55pm
For those who want to read an article about DeMark's approach to trendlines
--and it bears some similarity to Peter Crowns' DIBS system -- have a
look at the following article. (I've posted it before but I can't be bothered
to do the search for it.)
Attached File(s)
File Type: pdf FOREX - TDTL[1].pdf   388 KB | 839 downloads
HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
0 traders viewing now