Want to know how to get rich?

Hi Bomi, I know your question was directed at Yaed, and I couldn't resist the temptation to butt-in. The last high in my opinion is the BIG engulfing green candle 11 candles away. I guess its from the FOMC day.

Nice PA thread yaed.

I was wondering where you place your stops in the event of a spike as one of your charts showed. Also, how do you deploy your money management? I think the inexperienced can probably learn something if you elaborated on those two points.

I am already rich...

so..i cant give comment in here???

if u want getting rich...


SELLING THE DRUG

This is boring method....

not always works...

[/quote]...Give each high/low at least 8-32 hours....

Would you say give it 8 hours for the 1 hour chart and 32 for the 4 hour

thankx ...you are the man..

Hi nfp,If u don't mind, could u pls kindly enlighten us. What is the interesting method that will always work? Thanks in advance.Best Regards,LearnAlways

try learn how my grandfather george soros... beat the london bank..what method he used??

Regard,

NFP

Thanks nfp,

I read your thread George Soros Trading Method. The only info I find is 'INSIDER TRADING' which I believe most of the retail traders have no access to. So it's not useful to us. Sorry.

I assume George Soros doesn't look at charts when he trade. Reason being there is no need for him to do that. His funds are enough to move the markets on its own. And it would be foolish to think he would ever need to look at a chart. But all this is my personal opinion, subjective. I would be grateful if more info is available. Thanks in advance.

Best Regards,
LearnAlways

Soros used charts.but in connection with theory of reflexivity and fundamentals.Stanley Druckenmiller used charts to but again with fundamentals.In fact,the bet on pound in 1992 was a decision made by Stanley.

Hi antirobust,

If u don't mind could u pls enlighten us on the theory of reflexivity?
Sorry to yaed for posting questions on his thread, yaed pls continue. Just hope that some info could all help us to improve our trading. If I'm disturbing your flow pls let me know and I won't post again, thx.

Goggle: Reflexivity refers to circular relationships between cause and effect.

Best Regards,
LearnAlways

Ok my friends, let me answer my kind of way. This adresses a few posts. These are relevant. I stick to technical analysis ok people? Here it goes. REAL nice and clean! No bullshit! Power to the people!

That way you CAN get as little as 8. - spread. But this argues its a pretty good chance you WILL get a profit at least. On that day, 5th of march, there was a second position and that gave more then 8 so...

Probably, if it gets into a sell or buy on one pair thats going to make an effect in that direciton on the other pairs. Not sure. Have to watch it.

Not totally sure what to make of E/C for one good reason. The brokers have different times and what ever. Maybe 23 somewhere is a bit later somewhere else? Get it? Can make a difference of a day.

I see i came in a little late on the E/U trade. But its probably going to net a few pip more then that.

1. i m not a native english speaker and because of this, maybe i misunderstood some of what i have read.
2. i m not very intelligent (in fact i believe i m a step from stupidity,but with some logic ).

everything I write write here, need to be processed by you and others in reference with the two point made above by my.
in another post made by me i wrote:"Soros used charts.but in connection with theory of reflexivity and fundamentals.Stanley Druckenmiller used charts to but again with fundamentals.In fact,the bet on pound in 1992 was a decision made by Stanley."(this are facts). In Market Wizards book,Stanley says he use charts with fundametals.I think Alan Raphael (how worked for Soros) said that Soros would watch the charts 15 minutes.Some time ago i read something wrote by Soros himself, and i deducted that he used charts.(its possible that my deduction to be wrong,because my limited understanding). When i read first time The Alchemy of Finance I understood almost nothing,and i said to me that i know that i m limited in my thinking and very stupid but not so stupid.Second time it was a little better.And then i find that some of Soros managers said they do not understand the book(one of them said the book was hard to get because the writing mode of Soros) .Then i searched again and find, in some interview Soros recognized he made some mistakes in explaining his theory.Then i reread the book and i read also "Soros on Soros Staying Ahead of the Curve".

Now on Soros and his theory from my point of view and my limited understanding:

His theory is a framework that helps him to make a thesis/plan/scenario to take a trade.(i have something similar that i call "Teoria Pietelor Irationale" in english Theory of Irrational Markets and helps me to trade.)
Hold a trade for a long time, add to a positon if he is right or wrong.If he is wrong,he adds to a position only if he discover the mistake in that thesis,and the scenario that made him to take that trade is still true.
But what is most importat here is not only that he use fundamentals,but he uses his theory in a historical event.
The theory assume that people don't have all the information,because of this they make mistakes,and people open a trade with expections.In time this expectations changes.Expectations tend to affect prices,and at the same time prices tend to shape expectations.This anomaly from financial market at one point can affect the reality/fundametals or life itself in a country.
Reflexivity theory helps him to open trades in a trend or when a present trend is about to change at what he calls "inflection point". The theory descrcibe a boom-bust process (like a trend that at one point develop in a bubble and then suddently collapse ). With this theory he can open or add to a trade when he identify a bubble(you see this is contrary what majority of traders make.When they see a bubble they go short).You need to ask you self if the bubble will continue or will collapse.

Before reading Soros theory,i had a model for bubble that helped me to add at some point and to sell at the point were i think it will collapse.In developing this model i was inspired by Tulip-Mania story and that of South Sea Bubble.In fact Isaac Newton, lost a fourtune in South Sea Bubble,and i asked myself "how someone like him,very intelligent a genius can lose money". I don't know for sure why he loss ,maybe because he hasn't some models for financial market or maybe because he belived that he was a genius and he know everything like Victor Niederhoffer how is also very smart,has some Phds(or how they are spelled),was named best fund manager for some years and then blew up ,because an unexpected event.He, was selfish .He used to muck risk for that return(he used to be down 20 or 25% in a single day on a single trade,this is insane in my opinion.)You see, finally he blew up some more times from 1997.

Pound Bet:
But what is most importat here is not only that he use fundamentals,but he uses his theory in a historical event.The bet on pound in 1992 was a decision made by Stanley, but Soros was the man how increased the position on that trade,because it was a historical event.( i think,it was something like this in a simple form: is possible that the pound to leave the ERM or not,but if they leave the reward will be bigger than if they stay in ERM.)
When he bet on the collapse of thai bath (1997) it was again a historical event ,because the thai was pegged to dollar.Sure it wasn't the single assian currency pegged,but all collapsed.A simple trend following model, tested on Pound in 1992 and Thai Bath,Malaysian ringgit and others pegged currency in 1997 signaled to take a short in this.So nothing special.His theory help him to be more successful than others.

I used the word "trend" .I know that some of you don't believe in them, i don't care and i don't argue on this subject.Not because i m thinking this is the single source of making money,but because i made money using divers systems,(true be told i think some of tricks that helped/help me to make money are random and they are useless,but i know this and i risk very little and i use them only in some context/scenarios were from 10 point at one time all of them make click).After reading The Black Swan from Taleb i developed a system/strategy that opens position very rare but in different moments in market.Some of time open a trade in a trend,in range and a turning point in a trend.So you see,i used a range of metods,some of them tested,but every time i ask my signals if they are good,and i bet very little and not every day,just when the times come.The Reflexivity Theory,and my theory (that has evolved after reading Soros )just helps me to trade from a psychological point of view and to add to my open positions when i m right.

Don't forget that maybe i m wrong in my understanding of the world,life etc.In fact i think i m wrong,but i m open minded and if i find that i m wrong i will take responsibility and i will change.
1. i m not a native english speaker and because of this, maybe i misunderstood some of what i have read.
2. i m not very intelligent (in fact i believe i m a step from stupidity,but with some logic ).

Quotes from Soros:
“My approach works not by making valid predictions but by allowing me to correct false ones.”
“The secret to my success is that I know that I will be wrong. I consider it a strength to admit my mistakes. That allows me to stay in the game and fight another day.”

Actually i checked the data. I keep just these two pairs.