⭐ teeter Posted May 30, 2010 Report Share Posted May 30, 2010 Hans I read your comments with interest. One of the issues that the great diversity of information available here raises is knowing how to optimise use of time and deciding what to concentrate on. I would be interested to hear who you feel falls within that category of 5 or less trader/educators who are honest and profitable. Quote Link to comment Share on other sites More sharing options...
Guest hans321 Posted May 30, 2010 Report Share Posted May 30, 2010 @teeter There are just two traders where I am sure that they are profitable. One makes constantly enogh money to live from and the other trades FX for more than 10 years now with mad lot sizes meanwhile and achieved what most of us are dreaming about. Unfortunately both don’t offer mentoring. The latter tried it some time ago with a friend and said that he won’t do it again as it was way too much work (note, speaking here mentoring just a single person not like the system sellers around with 100 of clients at the same time). And ultimately success comes with screening time in front of the charts to get a feel about the market as there is no system out there where you just have to follow specific 5-step-rule based setups like a monkey (of course there are systems which work at some time in a particular market environment very well but in the long run all of these systems will fail sooner or later without exception). It’s all about learning discretion and a deep understanding what drives the market what distinguishes winners from losers When it comes to education you really have to be sure that a teacher is trader in the first place. I recently came across Chris Lori who is a FX fund manager and since a few years offers trading education too. Actually it is pretty much the same what the profitable trader does I wrote above (he has just pivots, the previous days highs/lows and some support resistance form greater timeframes on his intraday charts). Chris teachings are all about support and resistance levels and patterns and the optimal entry right at that levels. He provides also very valuable insights. For example he explains things like that banks often trade to the previous days high or low because these levels are watchd by traders around the world which generates new liquidity if price goes beyond these levels. So, if they need to trade a great amount of money, they use this liquidity to sell their positions then. You see that quite often when the London market opens and price makes slightly new highs and then reverses sharply. His course is full of such insights which definitely makes you a better trader. He tries to teach real price action, to understand whats going on behind candlestick patterns. For example if the price is declining because there is a selling pressure or just a lack of buying interest. That’s a huge difference you need to be aware of. About candlestick patterns. Chris actually confirmed what I have been thinking for some time. In Forex you can sum up all candlestick analysis to a minimum: Take care of the wicks where price gets rejected at some specific level. You don’t need to know all the candlestick patterns (Engulfings, Railroadtracks appear on a higher timeframe as wicks too). This brings me to another scammer: Steve Nison and his course Profiting in Forex with Candlesticks. His FX Course just meets the demand of FX traders, though his patterns may work well in the stock market. There is nothing valuable in his course (ok, for absolute beginners it may be valuable). I’m pretty sure that Nison doesn’t make money by trading FX. Ok, just because Chris Loris course is the best I’ve seen so far doesn’t mean it is perfect. I have a few contras: - All of his charts (exept some recorded live trades) are explained with hindsight, though it’s interesting how he interprets price action. But sometimes you know that he just came to that conclusion because he knew the charts. - Some of his explanations are contradictory. For example in a vid he says that this level would be a good place for a countertrade because of the support and the pound already used up his daily average range. And a day later he says after a 200pips move (used up daily range again) that price will go up aggressively further when it holds to the 38er fibo level. But I have to say that it was just a teaching vid about fibos and he didn’t speak about the greater picture and if he would have traded it in reality. - The course is about support and restistance levels where you may enter a trade or where you consider to take partial profit. But there was barely a discussion about the initial stopp loss. He says that his initial SL usually is the same distance as to the first take profit level. I have liked more infos and examples on that. I haven’t watched everything form Chris yet but I will and I hope some of these questions will be clarified then. And I am planning to visit his ProTradersClub to see his and others live tradings. If someone here already attended the PTC, please let me know what you think about. Another valuable teaching source in price action is in my opinion Steve Winiarsk. He worked for a large hedge fund and now is trading for his own business. His stuff is a good addition to Lori as he trades support and resistance. He started 2008 a thread at Forex Factory (http://www.forexfactory.com/showthread.php?t=86429) which became quite popular. Now he is only writing for his blog http://www.nobrainertrades.com/ educational articles and produces vids from time to time for free. Because of his professional background and the fact that he is trading for a living right now, and he doesn’t intend to make money by education the last two years although his popularity I consider him as honest and valuable. Another guy I cam across rencently is called Fetor who has a blog at forex4noobs http://www.forex4noobs.com/blogfet/ Altough I don’t know much about him my first impression is quite good as I like his way of trading (price action- support and resistance) and it seems to me well thought out. You can buy a course from him about 100$ but he says by himself that you don’t need to buy it because there is everything on his blog and there are free recorded webinars available too (more for absolute beginners). Wow, what a long post. Maybe we should make a new thread about it. Teeter and others, what are your favorites? Quote Link to comment Share on other sites More sharing options...
Guest hans321 Posted May 30, 2010 Report Share Posted May 30, 2010 (edited) @teeter There are just two traders where I am sure that they are profitable. One makes constantly enogh money to live from and the other trades FX for more than 10 years now with mad lot sizes meanwhile and achieved what most of us are dreaming about. Unfortunately both don’t offer mentoring. The latter tried it some time ago with a friend and said that he won’t do it again as it was way too much work (note, speaking here mentoring just a single person not like the system sellers around with 100 of clients at the same time). And ultimately success comes with screening time in front of the charts to get a feel about the market as there is no system out there where you just have to follow specific 5-step-rule based setups like a monkey (of course there are systems which work for a period of time in a particular market environment very well but in the long run all of these systems will fail sooner or later without exception). It’s all about learning discretion and a deep understanding what drives the market what distinguishes winners from losers When it comes to education you really have to be sure that a teacher is trader in the first place. I recently came across Chris Lori who is a FX fund manager and since a few years offers trading education too. Actually it is pretty much the same what the profitable trader does I wrote above (he has just pivots, the previous days highs/lows and some support resistance form greater timeframes on his intraday charts). Chris teachings are all about support and resistance levels and patterns and the optimal entry right at that levels. He provides also very valuable insights. For example he explains things like that banks often trade to the previous days high or low because these levels are watchd by traders around the world which generates new liquidity if price goes beyond these levels. So, if they need to trade a great amount of money, they use this liquidity to sell their positions then. You see that quite often when the London market opens and price makes slightly new highs and then reverses sharply. His course is full of such insights which definitely makes you a better trader. He tries to teach real price action, to understand whats going on behind candlestick patterns. For example if the price is declining because there is a selling pressure or just a lack of buying interest. That’s a huge difference you need to be aware of. About candlestick patterns. Chris actually confirmed what I have been thinking for some time. In Forex you can sum up all candlestick analysis to a minimum: Take care of the wicks where price gets rejected at some specific level. You don’t need to know all the candlestick patterns (Engulfings, Railroadtracks appear on a higher timeframe as wicks too). This brings me to another scammer: Steve Nison and his course Profiting in Forex with Candlesticks. His FX Course just meets the demand of FX traders, though his patterns may work well in the stock market. There is nothing valuable in his course (ok, for absolute beginners it may be valuable). I’m pretty sure that Nison doesn’t make money by trading FX. Ok, just because Chris Loris course is the best I’ve seen so far doesn’t mean it is perfect. I have a few contras: - All of his charts (exept some recorded live trades) are explained with hindsight, though it’s interesting how he interprets price action. But sometimes you know that he just came to that conclusion because he knew the charts. - Some of his explanations are contradictory. For example in a vid he says that this level would be a good place for a countertrade because of the support and the pound already used up his daily average range. And a day later he says after a 200pips move (used up daily range again) that price will go up aggressively further when it holds to the 38er fibo level. But I have to say that it was just a teaching vid about fibos and he didn’t speak about the greater picture and if he would have traded it in reality. - The course is about support and restistance levels where you may enter a trade or where you consider to take partial profit. But there was barely a discussion about the initial stopp loss. He says that his initial SL usually is the same distance as to the first take profit level. I have liked more infos and examples on that. I haven’t watched everything form Chris yet but I will and I hope some of these questions will be clarified then. And I am planning to visit his ProTradersClub to see his and others live tradings. If someone here already attended the PTC, please let me know what you think about. Edited May 30, 2010 by hans321 Quote Link to comment Share on other sites More sharing options...
Guest hans321 Posted May 30, 2010 Report Share Posted May 30, 2010 (edited) Another valuable teaching source in price action is in my opinion Steve Winiarsk. He worked for a large hedge fund and now is trading for his own business. His stuff is a good addition to Lori as he trades support and resistance. He started 2008 a thread at Forex Factory which became quite popular. Now he is only writing for his blog hxxp://www.nobrainertrades.com/ educational articles and produces vids from time to time for free. Because of his professional background and the fact that he is trading for a living right now, and he doesn’t intend to make money by education the last two years although his popularity I consider him as honest and valuable. Another guy I cam across rencently is called Fetor who has a blog at forex4noobs hxxp://www.forex4noobs.com/blogfet/ Altough I don’t know much about him my first impression is quite good as I like his way of trading (price action- support and resistance) which seems to me well thought out. You can buy a course from him about 100$ but he says by himself that you don’t need to buy it because there is everything on his blog and there are free recorded webinars available too (more for absolute beginners). Wow, what a long post. Maybe we should make a new thread about it. Teeter and others, what are your favorites? Edited May 30, 2010 by hans321 Quote Link to comment Share on other sites More sharing options...
⭐ teeter Posted May 30, 2010 Report Share Posted May 30, 2010 Hans Thank you for your comprehensive reply - it has certainly given me plenty more to think about. I would certainly be interested to hear of others opinions and agree it would be worthy of a new thread. Since my experience (which is non forex and largely based on trading e-minis and stocks) is somewhat off topic I shall limit my comments here to mentioning two traders I believe to be totally genuine and whose books I have found helpful; Gary Smith and Al Brooks. Quote Link to comment Share on other sites More sharing options...
csn Posted June 12, 2010 Report Share Posted June 12, 2010 Interesting, the course have only videos, no manual. Are we missing some manuals? Quote PM name of the WWE lady in my avatar n get a prize Link to comment Share on other sites More sharing options...
scwon Posted June 12, 2010 Report Share Posted June 12, 2010 Still waiting on someone to upload the last two parts of the course. Quote Link to comment Share on other sites More sharing options...
csn Posted June 13, 2010 Report Share Posted June 13, 2010 http://r@[email protected]/files/379181541/McDady_Setup1.rar http://r@[email protected]/files/379195834/McDady_Setup2.rar http://r@[email protected]/files/379113626/McDady_Trading_Course_Day_1.rar http://r@[email protected]/files/379214396/McDady_Trading_Course_Day_2.part1.rar http://r@[email protected]/files/379216705/McDady_Trading_Course_Day_2.part2.rar http://r@[email protected]/files/379235808/McDady_Trading_Course_Day_3.part1.rar http://r@[email protected]/files/379247795/McDady_Trading_Course_Day_3.part2.rar http://r@[email protected]/files/379252385/McDady_Types_of_Orders.rar No point waiting for the missing parts, they are gone. But I have successfully managed to download the full course from the above links courtesy Stempler. Quote PM name of the WWE lady in my avatar n get a prize Link to comment Share on other sites More sharing options...
trduraikamaraj Posted June 16, 2010 Report Share Posted June 16, 2010 new links McDady.part01.rar (95.78 MB) http://www.multiupload.com/TT9Z6DVUDK McDady.part02.rar (95.78 MB) http://www.multiupload.com/YTYO4P5XUM McDady.part03.rar (95.78 MB) http://www.multiupload.com/0LCVJVNIU2 McDady.part04.rar (95.78 MB) http://www.multiupload.com/XA4I8NLFZF McDady.part05.rar (95.78 MB) http://www.multiupload.com/6UUDDJOJAU McDady.part06.rar (95.78 MB) http://www.multiupload.com/I97986F1C6 McDady.part07.rar (95.78 MB) http://www.multiupload.com/Z7OKP9I4YU McDady.part08.rar (95.78 MB) http://www.multiupload.com/3S2OZMOA72 McDady.part09.rar (95.78 MB) http://www.multiupload.com/C2A0LMELNH McDady.part10.rar (95.78 MB) http://www.multiupload.com/875ZMS3TOZ McDady.part11.rar (95.78 MB) http://www.multiupload.com/TT1WU6JEQ0 McDady.part12.rar (38.39 MB) http://www.multiupload.com/HERPSTCJA8 ylidor, ⭐ aclient21 and marinko 3 Quote Link to comment Share on other sites More sharing options...
jayjas Posted June 16, 2010 Report Share Posted June 16, 2010 May i ask, before i download this course....are those videos just links from FX Street transcript section, or is some real course? Quote Link to comment Share on other sites More sharing options...
Ajata Posted June 17, 2010 Report Share Posted June 17, 2010 May i ask, before i download this course....are those videos just links from FX Street transcript section, or is some real course? This is his official course from his website trduraikamaraj and jayjas 2 Quote Link to comment Share on other sites More sharing options...
bankroll Posted November 3, 2010 Report Share Posted November 3, 2010 Do you actually use this strategy to make real money on your account? What are your experiences? Quote Link to comment Share on other sites More sharing options...
bankroll Posted November 4, 2010 Report Share Posted November 4, 2010 This is his official course from his website Actually which course is offered here from the tree listed on his website? http://www.spyglasstrading.co.uk/courses.html Can you use this strategy live without the special software and indicators? Quote Link to comment Share on other sites More sharing options...
global Posted April 26, 2011 Report Share Posted April 26, 2011 (edited) Does anyone have an uncorrupted copy of McDady Trading Course Day 2, Part 1 video? Please upload it if you have it. Also, are there indicators for MT4 that are equivalent to his indicators. Seems like most of us in this forum trade with MT4 so we would need his McDady Wave, Radar Radarscreen, Keylines etc. indicators but for MT4. Tradestation is too expensive plus as far as I understand you have to trade through their broker and I read some bad reviews about them. Is there a free version of Tradestation or some other trading platform that can use the Tradestation indicators? Edited April 27, 2011 by global Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.