KYSS - KEEP YOU SCREEN SIMPLE - GO WITH THE HEARD - TREND IS YOUR FRIEND
- #1,003
- Edited 1:36pm Feb 2, 2010 1:24pm | Edited 1:36pm
I'm just finishing this "webinar" right now...it's actually just a sales pitch to get people to join the 3 day webinars by the 10 advertised speakers. It's $49. My concern is that most of the speakers will be selling their mentoring/coaching services and I'm not sure if spending 3 days listening to all these guys sell themselves is the best thing for me right now.
That’s exactly what it is. You pay to get an extended sales pitch, an infomercial if you will. While these webinars are informative they give you just enough to get you interested to the “WOW” point but if you just log on to their individual sites you will most likely get an invite to their next FREE webinar. Why pay?
How do I know? I attended the one last year hosted by Compa$$FX. There were five presenters that pitched their systems. Not a bad income ($49.00 x 500+ people = $$,$$$) for the host for a few days work.
Now back to the CH method. Just look at the 15M chart, sure it looks easy after the fact. If YOU want to duplicate those possible PIPS then study, study and study PA from the 15M chart. Also remember you have support and resistance levels to look at from the higher time frames too.
Look at the chart from the past few months within the time of day you can trade. Watch pivots, fibs, S&R and news events. Most importantly watch your money management.
Why do most traders fail? Simple, poor money management and that is why this new proposed 10:1 leverage is being floated out there. Do you really think they’re going to bring it down to 10:1 leverage, NOT. At most it might come down to 50:1 but the reason that it’s even on the table is that retail Forex traders have been crying “my broker stole my money!”
Sure there are some bad companies out there but for the most part they have been weeded out in the US but know this... Big money will always push the market around. Run it one direction then dump their holdings. It’s a fact and that will never change.
Sorry for the soap box preaching folks.
Trade to trade well or get out while you still have your money because... This IS NOT a game.
JD
It's Easy To Get In;.. It's Hard To Get Out
- #1,008
- Feb 3, 2010 12:34am Feb 3, 2010 12:34am
What are these semaphores you guys are using/mentioning? I'm not seeing any breakdown of them in the thread. Are you just replacing the fractals with the semaphore algorithm? I don't get the numbers at the swings (1 2 3).
