Hi,
Here's my story and my request:
I have an aquaintance who is a Forex trader. I was speaking to him last week and he told me that he has pulled 15,000 pips out of the market since January 2008. That's "raw" pips and not total pips. I couldn't believe it and I told him so. Well, he shut me up quick by showing me his trading report. Not only were there over 15,000 pips there, the winning percentage was nearly 98%. Sounds too good to be true and I wouldn't have believed it if I hadn't seen it with my own eyes. So I asked him what strategy he was using. He told me that he had 5 different strategies, 1 short term, 2 mid-term and 2 long term. So I took my chances and ask if he would be willing to show me any of them. LOL! He showed me 2 of them. They were quite simple and easy to use. I asked him why he was willing to share such "gold" with me. He told me that the strategies weren't the main reason that he was able to pull that many pips out of the market and knew that even if I did use the strategies that I would never duplicate the pips. He told me the thing that made the difference and was his "Holy Grail" was the fact that he could do a very thorough and detailed analysis of the market as a whole and also individual currency pairs. He told me that at this level one should be a buyer of a certain pair or at that level one should be a seller. He called support and resistance lines and told me when and where to get in if those were broken. He did price projections to pinpoint profit targets. He explained th e technicals and how it allowed him to see market so much better than he used. He explained how the fundementals effected the prices and how to position yourself on the right side of the market. He showed me several trades that had gone against him for over 200 pips and he stayed in them because his analysis told him that the technicals were still on his side. He turned large drawdowns into winners. It was amazing! He gave me several trades to watch over the next few days and I did. The market behaved pretty much like he called it. It's no wonder that he was trading at 98% winners. I asked if he would share any of his insight into market analysis. I asked him if he would teach me how to analyze the markets the way he did. Well, that's where the generosity ended. He clammed up. Well, I was disappointed to say the least. So that's where the story ends. I am in absolute awe at what this guy can do. So I decided that I would bring my story and my reques to the good people in the Forex Factory community. What I am looking for is anyone who can recommend a book, a web site, a course, a newsletter, a thread or anything else that might lead me in the right direction to figure out exactly what this guy is doing and how he analyzes the market with such precision. Whether you have all the answers a just a small portion of one, please let me know. If it's a course on Fibonacci extensions or a book on trendlines or a thread on fundemental analysis please share! Thank you!!
TTF
Here's my story and my request:
I have an aquaintance who is a Forex trader. I was speaking to him last week and he told me that he has pulled 15,000 pips out of the market since January 2008. That's "raw" pips and not total pips. I couldn't believe it and I told him so. Well, he shut me up quick by showing me his trading report. Not only were there over 15,000 pips there, the winning percentage was nearly 98%. Sounds too good to be true and I wouldn't have believed it if I hadn't seen it with my own eyes. So I asked him what strategy he was using. He told me that he had 5 different strategies, 1 short term, 2 mid-term and 2 long term. So I took my chances and ask if he would be willing to show me any of them. LOL! He showed me 2 of them. They were quite simple and easy to use. I asked him why he was willing to share such "gold" with me. He told me that the strategies weren't the main reason that he was able to pull that many pips out of the market and knew that even if I did use the strategies that I would never duplicate the pips. He told me the thing that made the difference and was his "Holy Grail" was the fact that he could do a very thorough and detailed analysis of the market as a whole and also individual currency pairs. He told me that at this level one should be a buyer of a certain pair or at that level one should be a seller. He called support and resistance lines and told me when and where to get in if those were broken. He did price projections to pinpoint profit targets. He explained th e technicals and how it allowed him to see market so much better than he used. He explained how the fundementals effected the prices and how to position yourself on the right side of the market. He showed me several trades that had gone against him for over 200 pips and he stayed in them because his analysis told him that the technicals were still on his side. He turned large drawdowns into winners. It was amazing! He gave me several trades to watch over the next few days and I did. The market behaved pretty much like he called it. It's no wonder that he was trading at 98% winners. I asked if he would share any of his insight into market analysis. I asked him if he would teach me how to analyze the markets the way he did. Well, that's where the generosity ended. He clammed up. Well, I was disappointed to say the least. So that's where the story ends. I am in absolute awe at what this guy can do. So I decided that I would bring my story and my reques to the good people in the Forex Factory community. What I am looking for is anyone who can recommend a book, a web site, a course, a newsletter, a thread or anything else that might lead me in the right direction to figure out exactly what this guy is doing and how he analyzes the market with such precision. Whether you have all the answers a just a small portion of one, please let me know. If it's a course on Fibonacci extensions or a book on trendlines or a thread on fundemental analysis please share! Thank you!!
TTF
LMAO