I like the golf analogies for the discussion of systems versus expertise.
There are multiple swing techniques and you only have to read any of the multiple golf magazines to find that each coach is promoting a different slant on essentially one goal - accuracy and repeatability. There is no holy grail in golf, or any other particular skill except for learning, experience and application. discover what approach works in any particular scenario and perfect the approach.
All of the retail training companies are there for one purpose - selling training materials and to ultimately generate a passive income from subscription services, so essentially there is going to be an upsell - "join our exclusive platinum members only benefits club/group".
Some of the retail training companies may very well be successful in using their own systems, but I guarantee they make more money selling product than they do in trading. Residual/Passive income is the key (Trump / Kiyosaki).
Maybe cynical - probably not.
From all of the FF threads that start out with a "pure" approach / system, most get corrupted by a profusion of indicators which only serve to confuse and distort the approach.
All indicators are in fact lagging (historical) - they are based on moving averages based on a sample size of previous prices / L/H / closes or they are based on more complicated algorithms. There are no true leading (predictive) indicators. There are numerous examples of robots and EAs that initially work and then collapse.
At the end of the day in any trading environment, Price Action, Supply & Demand, Momentum are the only winners. Some of the indicators have a higher success rate, but blindly following a "when this line crosses that line and when this bar changes colour " will get you in a hole, unless you take the time and energy to understand what is driving the markets, what the risk is and what the probability is of any particular trade set-up.
The institutional investment organizations control billions of dollars - these are the true market makers, the retail trading market is unlikely to ever have the ability to influence a market - is less coordinated and has much less capital.
OK - I'm off the soap box now. That was my 10 cents on "systems"
Cheers - happy pip hunting.
There are multiple swing techniques and you only have to read any of the multiple golf magazines to find that each coach is promoting a different slant on essentially one goal - accuracy and repeatability. There is no holy grail in golf, or any other particular skill except for learning, experience and application. discover what approach works in any particular scenario and perfect the approach.
All of the retail training companies are there for one purpose - selling training materials and to ultimately generate a passive income from subscription services, so essentially there is going to be an upsell - "join our exclusive platinum members only benefits club/group".
Some of the retail training companies may very well be successful in using their own systems, but I guarantee they make more money selling product than they do in trading. Residual/Passive income is the key (Trump / Kiyosaki).
Maybe cynical - probably not.
From all of the FF threads that start out with a "pure" approach / system, most get corrupted by a profusion of indicators which only serve to confuse and distort the approach.
All indicators are in fact lagging (historical) - they are based on moving averages based on a sample size of previous prices / L/H / closes or they are based on more complicated algorithms. There are no true leading (predictive) indicators. There are numerous examples of robots and EAs that initially work and then collapse.
At the end of the day in any trading environment, Price Action, Supply & Demand, Momentum are the only winners. Some of the indicators have a higher success rate, but blindly following a "when this line crosses that line and when this bar changes colour " will get you in a hole, unless you take the time and energy to understand what is driving the markets, what the risk is and what the probability is of any particular trade set-up.
The institutional investment organizations control billions of dollars - these are the true market makers, the retail trading market is unlikely to ever have the ability to influence a market - is less coordinated and has much less capital.
OK - I'm off the soap box now. That was my 10 cents on "systems"
Cheers - happy pip hunting.
"To live with Passion, it takes Courage and Grace to survive"
