TEK Fin@nci@l Tr@ding

[meek13]

Hi All,

 

It's been a while since I last made a post and I hope all you guys are well. I had an email about this seminar and found it very interesting since it was based purely on price action. Also the risk to reward he tries to go for is 1:3 with 80% profitable trades, although I don't see no evidence of this.

 

Here is a bit of what this guy sells:

 

How To Make A Living From Trading.

Earlier this year I was contacted by a man called Kyle Monie who wanted to know

if I’d be interested in his trading method. He told me he made a living from

trading and wanted to teach others how to do it.

I asked him the usual questions… What sort of pip profits do you make per

month? What is the average strike rate of your trades? How many trades a week

do you get? Is it completely mechanical or is it up to users to interpret

technical analysis? Do you use leading or lagging indicators? etc. And I also

asked him how he proposed to share his method.

This was his response:

“I use and teach a few different techniques, which are all PRICE ACTION based.

Quite frankly, I don’t like and don’t need to use indicators.

I generally find 80% of trades are winners, as I go for the most viable

opportunities and cross reference between similar markets.

In terms of PIPS per month, that depends on time spent, opportunities taken

etc. Nevertheless, it is not too difficult to make 50-100 points, per day, with

consistency (which is the most important aspect, I believe).

I have been conducting mentoring over the past few months, which has gone well,

but I am more inclined towards a training event, as I enjoy teaching in person,

and I have spoken in front of large numbers of people in a professional

capacity many times.

I would be able to focus on one or two techniques that work well in tandem and

provide a high number of opportunities that result in high PIPS totals, on a

number of different time frames (this is key, as it suits the prospective full

time trader, part time one and also amateur investor).

People think that financial markets and trading is a complicated business, but

actually, like most things in life, it’s the simple things that work. Anyone

can trade the markets with a bit of guidance.”

I was intrigued at his response. All his techniques are Price Action based and

he doesn’t use any indicators? Every trading method I’ve come across, or used,

have relied on a combination of indicators that were supposed to indicate

(obviously) which way the market is likely to go.

I told Kyle I was interested in seeing this method and asked if he’d be willing

to teach me.

Well, we managed to arrange a meeting. In fact he came to my house in London

and we sat at the kitchen table with a laptop and he showed me what he did.

To say I was impressed is an understatement.

All he did was log in to his spread betting account, Capital Spreads in this

case, and opened up five or six of the free charts on different markets. He had

them set to show candlesticks but nothing else… no support and resistance

lines, no Macd indicators, no Fibonacci, no pivot points, no Eliot waves….

there was nothing on these charts but the candlesticks.

He then asked me if I noticed anything when he flipped between the different

charts. I said that I could see a correlation between them in the sense that

they seemed to all be moving in the same direction, or opposite direction, but

apart from that I didn’t really notice anything.

Then he started pointing to certain simple patterns in charts, patterns that

were always there but that I’d never really noticed before. Once I started

looking for these particular patterns I realised they happened time and time

again, on all charts and all time frames.

He then told me to look for a specific type of candlestick formation that

occurred within this pattern. Again, this was something that I had never taken

any notice of before. But when I looked I could see it over and over again. And

every time this occurred the market moved significantly in one direction.

Once I’d understood what to look for, we started going through other markets,

other charts, other timeframes and time and time again we could see this

pattern and this candlestick formation and most of the time the market moved in

the direction we would have expected. And it moved a lot.

Kyle then showed me how this worked really well not just on currencies but also

on FTSE100, S&P500 and two Oil markets. In fact it didn’t just work well, it

worked exceptionally well.

He showed me how he would have a look over the long term charts over the

weekend and this showed him where he needed to be looking to find these trades

in the week. He showed me how this can be done at any time of day or night,

from anywhere you have an internet connection. You don’t even need to have your own computer because you can log in to your spread betting account from public computers and use their free charts to identify and place trades.

Kyle seemed to have found a way to make money from trading that was so simple

yet so effective I couldn’t quite believe nobody else had spotted this before.

Well Kyle is organising a one day seminar in Birmingham where he is going to

teach 50 people exactly how to do this for themselves. He will be showing them

how to trade this exact method that enables him to make 50-100 pips a day

trading from a simple spread betting account.

The proposed syllabus will be:

Fundamentals of financial markets – simplifying economic/political news.

Money management.

Proper risk to reward.

Price Action techniques to combat any market condition.

 

Mastering the psychology of trading.

 

Goal setting: achieving what you want.

 

Trading template: this is what I do every day before I trade, what to look at,

what to be thinking, how to approach the markets.

 

Trader type: this will help to discover if you want to be a short term or

longer term trader (I am talking about the time frames you use).

Details of the event will be published shortly but as you can imagine this is going to sell out very quickly indeed and tickets will be released on a first come, first served basis.

If you would like to sign up to the early bird notification list, enter your e-mail address below and you will be the first to know when tickets are made available.[/Quote]Here is the website link:

 

 

hxxp://tekft.c0m

You know the drill, change 'xx' with 'tt' and '0' with 'o'

 

 

Looks very interesting but hey we know how it goes right ;)

[⭐ c0py]

Hi,

 

I spent the weekend looking this up and was thinking about going. I then found something interesting which may help us determine his system(s) used for entries without needing to pay.

 

There is a list of screenshots for some of his trades here:

 

http://s936.photobucket.com/albums/ad210/tradingforbeginners/

 

Lets see if we can analyse the entries for ourselves!

[meek13]

Thanks for the link cOpy, I am surprised no one else has anything to expand on this?????

[⭐ dukeaugustus]

There is a page over at c@shmaster blog dedicated to promoting this, with some recent screen shots of some trades, and a video for q&f. I have not viewed the video. But can't see any obvious patterns from just viewing the screen shots alone yet. Some more experienced or smarter traders on II here may be able to decipher his method?

 

Here is the page:

http://[email protected]/blog/?s=tek+trading

Just remember to change "@" to "a"

[⭐ godl1ke]

Guys, to my knowledge there is no pdf version of the 'system' or anything like that. There might be something after the seminar but at the moment there isn't. How do I know this you may ask. Well, I've had some 1-1 training with Kyle. There is nothing he will teach you that isn't already freely available either here on the forum or elsewhere online - Outside bars, Double / Triple tops / bottoms, W / M formation etc. What Kyle does is show you how to pull all these together along with multi-timeframe and correlated market analysis to decide on whether you should take a trade or not. It's not a system as such, as there aren't really a set list of rules. It's more a method of trading in which you're looking at the markets in a more holistic way.

[meek13]

Guys, to my knowledge there is no pdf version of the 'system' or anything like that. There might be something after the seminar but at the moment there isn't. How do I know this you may ask. Well, I've had some 1-1 training with Kyle. There is nothing he will teach you that isn't already freely available either here on the forum or elsewhere online - Outside bars, Double / Triple tops / bottoms, W / M formation etc. What Kyle does is show you how to pull all these together along with multi-timeframe and correlated market analysis to decide on whether you should take a trade or not. It's not a system as such, as there aren't really a set list of rules. It's more a method of trading in which you're looking at the markets in a more holistic way.

 

Hi godl1ke,

 

Care to expand on how he pulls all of the methods to decide whether to take a trade or not please.

[newboy]

Guys, to my knowledge there is no pdf version of the 'system' or anything like that. There might be something after the seminar but at the moment there isn't. How do I know this you may ask. Well, I've had some 1-1 training with Kyle. There is nothing he will teach you that isn't already freely available either here on the forum or elsewhere online - Outside bars, Double / Triple tops / bottoms, W / M formation etc. What Kyle does is show you how to pull all these together along with multi-timeframe and correlated market analysis to decide on whether you should take a trade or not. It's not a system as such, as there aren't really a set list of rules. It's more a method of trading in which you're looking at the markets in a more holistic way.

Hi godl1ke he wants £2000 for a seminar with 50 people in your opinion do you think it worth the money?

For a 1 to 1 this might seem reasonable but 50 other people seems expensive.

I believe the course would be on a Saturday so you would not see him trade live....any thoughts.

Regards.

newboy

[⭐ godl1ke]

Wowzers, £2000....that is a hell of a sum of money...

 

So, do I think it worth it. Well, it's difficult to answer. As mentioned before, I don't think there is anything he will cover that you can't find for free elsewhere. It's all been covered to some extent by different people before. What sets Kyle aside is the way that he brings it all together. It's about confluence and taking a holistic view of the market which includes looking at multi-timeframes. Not everybody will see and take the same trades because it is objective - you may see a W formation, I may see it as the inverse Triple top because I'm looking at it on a different timescale and also in relation to a correlated market / pair.

 

The £2000 sounds large as a single lump sum, but then again, I'm sure people have paid more than that for the sum of all the smaller courses they've paid for. I certainly think that if you did your reading and funded a trading account with £2000 and looked on that as your payment for learning, you could certainly end up with the same ability. I guess the question to ask is do you want to spend a year doing that, dealing with the psychological aspect of accepting losing trades and struggling through, or do you want to pay £2000 to someone that you've never met, but is promising you a short cut with backup support.

 

Have I removed all the indicators from my chart....no, but then that's just me. I didn't really have a lot to begin with, and I only use indicators to help if I'm quickly scanning the chart for trends. However I do now use some of the things I went through with Kyle to increase the chances of my trades being successful.

 

Trading is a numbers game based around percentages. As such, you'll have to work out for yourself whether you think the odds of the seminar being successful are worth the £2000 risk.

[soundfx]

Hi godl1ke,

 

Thanks for the info. It's interesting that Kyle is only 22, he's spotted the secrets of trading a lot earlier than most!

 

Also interesting is that he appeared to giving a large discount in seminars in Scotland judging by this article:

 

http://www.strathearnherald.co.uk/strathearn-news/strathearn-news/2011/06/03/financial-whizz-wants-to-share-his-secrets-with-strath-residents-64054-28803909/

 

I trade mainly from price action and I find the hardest thing to do is to stop myself from overtrading. On the lower timeframe charts virtually everything you look at is a potential trade opportunity. To get a consistent amount of pips daily all you need to do is to spot the 1 or 2 large momentum moves which appear virtually each day and ride them for 10, 20, 30+ pips (as much as the market wants to give you). This means a lot of screen time unfortunately and a lot of "sitting on your hands", though the screen time can be reduced by realising that major momentum moves typically follow main news announcements (the red ones on FF). However, jumping into trades immediately after news is announced is generally a bad move. It seems to me that the bigger players who really move the markets allow a while for the news to sink in - how long this is varies, it could be 10 mins, 30 mins or an hour.

 

Provided that you can be disciplined enough not to trade weak setups and wait for the large momentum moves you can do very nicely.

[Stonecold69]

Hi Everyone :-)

 

I have to agree with soundfx and also for what it's worth, I think the amount he is looking for for what is more like a seminar than coaching is very overpriced......

 

I have been to Andy Thompson for the 1 on 1 PHD training and this is excellent but you are using definite rules and indicators from StealthFX so there is little to know room for error on a signal whereas when using Price Action alone (which I do believe is the ultimate method and my goal!!) is easy to learn 'patterns-wise' but in practice, it does leave a lot to discretion and therefore £2.5k for a 20+?? people seminar is awfully steep - You are better off looking at the courses from James16 group or Nial Fuller etc.....

 

Just my humble opinion mind you :-)

 

 

Stone

Edited July 1, 2011 by Stonecold69
messed up formatting...doh!

[wartime]

[soundfx]

Hi Stone,

 

Thanks for your comments.

 

I've just tonight, as it happens, re-discovered Nial Fuller and the free material on his website is excellent. This one is particularly good:

 

http://www.learntotradethemarket.com/forex-trading-strategies/the-anatomy-of-a-how-i-enter-price-action-forex-trades

 

It's strange how at different stages in your development as a trader you home into different things.

 

I remember James16 from the early days when all info. he provided was free. I think he was mainly trading e-minis then, though everything he said made sense and you could see it came from years and years of watching charts. Essentially it was all about pin bars (aka pinocchio bars) and confluence of fibs and S/R. All good stuff though not as clear to see as Nial Fuller's.

 

The more time you spend in the market as a discretionary price action trader, the less easily you're able to explain exactly why you took certain trades and left others alone. For example, EURUSD and AUDUSD typically are highly correlated, however if one is going up with a strong buy signal and the other is going down, I'd be very wary about taking the trade, or if I did, I'd only be looking for a handful of pips.

 

Another example...By watching the charts a lot you get used to the normal speed/momentum at which price moves. When big moves are afoot you don't need to see the massive candle at the end of the move and realise you've missed it, you can tell by the abnormal notching up or down of price very early on that this is going to be a big move. Here you could have taken a price action setup that has appeared several times already today and not given particularly good results, however with the momentum too, this gives you a really solid "edge" and will typically lead to a nice haul of pips.

 

I've not looked in detail at the PNP stuff. It all seemed well founded, though a bit too complex for my liking as I recall. However, 1:1 sessions with any pro. trader are generally well worth doing as the odd snippet of info. here and there can make all the difference between success and mediocrity.

 

Wartime,

 

Thanks for the video link. I'd noticed that one somewhere else too, though he doesn't give away many secrets ;)

Edited July 2, 2011 by soundfx

[⭐ godl1ke]

With regards to Nial Fuller, don't waste your money on buying his full course. Everything worthwhile is already available for free.