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Rick, check this out:

 

Steve G's latest...

 

I believe it is just another way for him to "market" the same system he has been trying to push for the past few years just using a different angle to explain it. He's also trying to sell Intellicharts with his own proprietary indicators by saying MT4 is no good for trading forex.

 

His Harmonic Wave Convergence indicator is simply an RSI-3 from the 5-min timeframe transposed onto an RSI-3 from the 30-min timeframe. Its meant to be traded off live candles from the 30-min timeframe using a fixed set of targets that consist of Camarilla lines, fibonacci sequence values based off crossing of EMA62, fibo grid lines, and a few others. The charts are so cluttered with lines that any market turning point has a good chance of turning around on or close to one of the lines. He always talked about "lifestyle" trading (not being married to the charts), but all his systems require extensive time at the charts to catch the moves since entries are off live candles.

 

FYI, I was once affiliated with him and part of a trading team he put together. I no longer trade any of his strategies for the reasons you've already pointed out. I literally wasted 1-1/2 yrs trying to learn & trade with him. Wish I could have that time back.... He also owed me money which I finally wrote off several years ago after I cut my ties to him. Steve was also originally part of FX-Trainer which in my opinion scammed many people, including myself, out of thousands each. I don't think Steve was actually involved with the scamming, but he had grown a good size business from his dealings with them. I don't hold a grudge against him, I simply cut my losses and moved on.

 

Here is a link to his original Power62 trading system based off the 5/13/62 model by Booker. The system is broken down into parts on the left hand side of the screen.

 

 

 

BTW Rick, there is a good chance we may know each other ;-).

 

A message to anyone reading this: STOP looking for the holy grail and learn to read the market, then trade price action and stick to your plan. You'll actually have a shot at success that way.

skid

 

Everyone should make a little pause and read ten times in a row the sentence I put in

BLUE

 

I keep saying those things but I could not say it better. Thank you Skid.

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"A message to anyone reading this: STOP looking for the holy grail and learn to read the market, then trade price action and stick to your plan. You'll actually have a shot at success that way."

 

I would not stop looking for the holygrail....

For me the holygrail is the only dream and i would never stop dreaming....

Then i can't keep moving without dreaming....

"You Ain't Seen Nothing Yet!".
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I would not stop looking for the holygrail....For me the holygrail is the only dream and i would never stop dreaming....Then i can't keep moving without dreaming....

 

Me too, sorry Freddy but I have found it a number of times already!!

 

When my internet is reliable I will be trading it too!!

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I would not stop looking for the holygrail....

For me the holygrail is the only dream and i would never stop dreaming....

Then i can't keep moving without dreaming....

 

Me too, sorry Freddy but I have found it a number of times already!!

 

When my internet is reliable I will be trading it too!!

 

 

I did not mean you cannot have dreams.

 

Think big, dream big, try to act big.

But all your hopes and dreams, make them with your faith in yourself, not on trying each week a new supposed working strategy.

 

Make your own system (with ideas you found over internet, if you like), adapt them to your own needs and when you found your "holy personal grail", then stick to it.

 

I think it is good to learn everyday, but when you have a strategy which works for you, stay with it on your everyday trades, and all your big dreams become reality.

 

Otherwise, we can make an appointment in 10 years and you will still be looking for the new systems overhyped, promoted in you mailbox:

"the Shangai open strategy" by Bobun Dittmun or the Bombay midnight Rebounce" by Indi Poulli.

 

 

 

Have sweet dreams. ;)

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  • 3 months later...

When my internet is reliable I will be trading it too!!

 

It seems that Internet problem is worldwide... last week when i was thinking,it as the right moment for shorting crude.. while i prepared for my scalping trades... Connection gone... when it resumed after hours... crude fell from 108 to 98..:-O:-O

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