Safety In The Market

[machi]

Canaussieuck,
I couldn't agree more regarding the chartist. Great value with the video charts, 4 systems,traders almanac and all the rest of the educational material.



Are you saying that more complex is better??

If so I disagree.

I like Nick's style of EW/trading.

I'll stick with the bloke who called the correction at 5400(and traded it short all the way down) live here on the forum.

You just do that man, that’s your decision and I could really not care less, just giving people my honest opinion. Perhaps it just not suit me, or perhaps I think that I am capable of better than the level it tries to teach. Dunno.

As for the XAO 5400 correction call(he actually said that was the top), it was a good one but I know of at least 2 others on this site that also made a similar calls and even more calls on commodities or stocks and they ain’t even professionals!
It’s easy for one to boast of their achievements isn’t it, but how about their failures. How about his call in the chartist for TLS to go sub $3 last year, (he was looking for $2.83), how about ZFX before the last peak @$19.04(he was still bullish) and then again last week(when he was bearish- and the ass covering thereafter)? Out by miles and there are others which I won’t list.

Every Guru has his day, they make 1-2 good calls and they are champions. Then they make 1-2 bad calls and they lose respect quick smart. Just look back into history....

 

[Magdoran]

Mag,

I spoke to the Gentleman Himself (Bill Mc) today and for the record, the was very Approachable, Humble, Decent and a wealth of knowledge from what Little my judgements could make.

He did mention his trading started back in the 60's and working on the US floor himself, which I'm sure their would have been lots to learn.

I'm still researching his stuff and leaning to a purchase of both his dvd sets.

Anyway Guys, better get back to "Safety In the Market" thread. in all fairness to OP.

Cheers
SevenFX

Hello SevenFX,


That’s impressive that you got to talk with him!

If you are going to look at the DVDs, I’d suggest doing part 1 first (the first set of 2 DVDs). This should take a minimum of around 6 months to glean, and probably a year or two to master (especially when you replay it a few times, and all those throw away/aside one liners suddenly really make sense).

The time factor DVD is very heavy going. Bill is very good at conveying the concept as simply as he can, but really mastering this is very challenging since it relies heavily on the grounding from the first set, and then takes a long time to put it all together. Many do not wish to emark on this leg, and are happy just with the first set... up to you...

I’m still working on this, and seem to find myself making break throughs progressively each year (but then Bill mentions this is the same for him – there’s always something new to learn).

Also, EW theories I have found are compatible with this style, and in fact you can kind of “fuse” the two together since wave structure is a component of McLaren’s style but not his speciality. You could I suppose embark on both at the same time.

I know wavepicker benefited from the first DVD set which helped his EW work from a pattern perspective.

Hope that helps.


Regards


Magdoran

P.S. I’d do the DVDs first rather than try to tackle “Gann Made Easy” which predates the DVDs, and to an extent was superseded, but if you have an interest in understanding geometric T/A styles, there are some beneficial sections on charting Auburn Motors and US Steel – really freaky time/price concepts embedded in there if you can take the time to work it out, but do the foundations first or it will probably take a lot longer. Mag

 

[CanOz]

You just do that man, that’s your decision and I could really not care less, just giving people my honest opinion. Perhaps it just not suit me, or perhaps I think that I am capable of better than the level it tries to teach. Dunno.

As for the XAO 5400 correction call(he actually said that was the top), it was a good one but I know of at least 2 others on this site that also made a similar calls and even more calls on commodities or stocks and they ain’t even professionals!
It’s easy for one to boast of their achievements isn’t it, but how about their failures. How about his call in the chartist for TLS to go sub $3 last year, (he was looking for $2.83), how about ZFX before the last peak @$19.04(he was still bullish) and then again last week(when he was bearish- and the ass covering thereafter)? Out by miles and there are others which I won’t list.

Every Guru has his day, they make 1-2 good calls and they are champions. Then they make 1-2 bad calls and they lose respect quick smart. Just look back into history....

You're being disrespectful now mate.

You could have put it a little more diplomatically. Everyone here will repect you opinions, provided you put them forth with respect to other members in mind.

 

[Nick Radge]

The correct accuarcy is 58%

 

[Sean K]

Gents (and maybe ladies),

Just be minful while contributing to this thread that when commenting on service providers such as SITM, or Nick Radge, or anyone, that you need to be as objective and factual as possible.

This is a public forum and any criticism of a service provider, that is not true and accurate, could stir up some trouble.

Cheers,
Sean K

 

[theasxgorilla]

It’s easy for one to boast of their achievements isn’t it, but how about their failures.

Acknowledging failures is okay...boasting about them I consider a little strange.

BTW, it's possible to be wrong and still make money. That's the objective after all, isn't it?? You might like to consider this quote from John Kenneth Galbraith:

"Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof".

Perhaps thats why so many traders are reputed to fail...they get too busy on the proof. Machi, what do you do?

 

[wayneL]

Can you post a link please BentRod.....We missed this trade

Regarding this post and the later one which you deleted:

It was called well BEFORE the fact... not posted here, but I can vouch for it.

But FWIW, I don't think Nick is into boasting about calls (someone else brought it up). It was "one trade in the next thousand" and it's your a/c balance at the end of the thousand trades that's important.

Re Radge verses Mclaren: There is no "verses". Both have different approaches and both offer sincere, good value information. It's not a contest. It's up to personal preferences.

Cheers

 

[Bronte]

I'll stick with the bloke who called the correction at 5400(and traded it short all the way down) live here on the forum.

Thank you waynel for clearing that up, so he didn't

 

[wayneL]

Thank you waynel for clearing that up, so he didn't

I'm wondering about the pedagoguery, in light of your tainted record here.

 

[Bronte]

Very funny Wayne
You yourself can vouche for some of our calls.

 

[Nick Radge]

Trading is not about making rash calls or pretty charts. Its about making money. There is a distinct difference to analysing a chart then making a trade. The markets are dynamic and one must adjust accordingly.

Post #5 and #30.

https://www.aussiestockforums.com/forums/showthread.php?t=3310&highlight=fibonacci

 

[SevenFX]

Gees,

This thread has gone so far off topic, even the moderators have got in on the action.

Can we pls bring it back on topic, and shift all offtopic stuff in new thread.

SevenFX

 

[tech/a]

Other than Radge,are there any other educators out there who are actually licienced by ASIC.

What is it with people who continually wish to label people who educate others as GURU's.

I guess it comes from those who are "Challenged" in the skills of trading.

90% of traders fail---wow I wonder why.

 

[Bronte]

Trading is not about making rash calls or pretty charts. Its about making money.

Totally agree with this Nick.
I had to leave this discussion to make some.
SITM taught us how to trade Big numbers.

It is not about how you make your money.....
We believe, it is about what you do with it.

 

[Kauri]

Totally agree with this Nick.
I had to leave this discussion to make some.
SITM taught us how to trade Big numbers.

It is not about how you make your money.....
We believe, it is about what you do with it.

Bronte....
You surprise me, judging by a photo you posted a while ago there is no way yours can be biggest. Or can it??

 

[tech/a]

I had to leave this discussion to make some.
SITM taught us how to trade Big numbers.

Oh god!
Get me a bucket.

 

[Bronte]

Hehe! Kauri / tech/a

Somewhere in the original 'Trading the SPI' thread.
We discussed Big numbers & Bias's etc in detail.

I only added the SITM bit to try and keep the thread on topic.
Sorry guys

 

[Sean K]

Come on people, let's get it back on topic. Somehow.

 

[It's Snake Pliskin]

Other than Radge,are there any other educators out there who are actually licienced by ASIC.

What is it with people who continually wish to label people who educate others as GURU's.

I guess it comes from those who are "Challenged" in the skills of trading.

90% of traders fail---wow I wonder why.

Tech,
"Guru" is Indonesian for "teacher".

 

[Garpal Gumnut]

I went to an ATAA (Australian Technical Analysis Association) meeting in Sydney many years ago. I live in rural Australia and was comforted to be seated beside an investor/trader from Quilpie in western Queensland.

His mantra which he repeated ad nauseum , during presentations and after was

1. It doesn't matter a stuff where you enter a trade.

2. You need to have good money management, the trade should be part of an overall investment plan, don't over-commit.

3. Have a top loss strategy and stick to it , whether a percentage or a support level breached.

4. Follow the trend

My question is, How different is the Quilpie advice from SITM and Nick Radge?

Garpal