Secret of trading (3)
16
January
The holy grail is in you
No mentor or course can give anyone the holy grail to the success of trading in the markets.
The main inventors of technical analysis such as Charles Dow with his Dow theorie, R. N Elliot who introduces elliot waves, W.Wilder with his known RSI (Relative Strength Index), ADX and other indicators such as MACD, Stochastic, etc are all important development of technical studies.
And then there are some swear by the accuracy of candlestick, reversal patterns, pivots and fibonacci numbers.
I went to a course teaching a holy grail by applying common indicators with his magic parameter. And then I went to another course which said he has predictive moving average line. And those courses are not cheap despite only a few hours long. I dumped aside the manual after attending the courses as all of them are bullshitting. I used those courses with the intention to measure myself to know how far I’ve moved ahead of others instead of looking for new holy grail.
Many books are written and multi million dollar courses are earned just to make author or course leader rich. The attraction to the riches are so great that it’s simply too easy to say that suckers are born each day.
The market is like living organism that learns to adapt to different events. It simply reflects the behavior of participants engaged in the market. Sometimes friendly and certainly are out of sound mind most of the time.
So the available technical studies are only tools to measure as closely as possible possible outcome of many unsound minds in the market.
So how do you read the unsound mind as a medical doctor? Some have suceeded after years of practicing but most of new doctors will fail to recognize what the mental health people are telling them.
Being a sucker myself I came to the realisation only after thousands of dollar lost, years in wasted time spent and spoken to the real trader that has amazed his millions from the market I stop seeking the holy grail tools of profiting from the market as the holy grail is in you.
1. KH Tang | April 7th, 2010 at 5:33 pm
Good afternoon, Tapereader
By synchronicity,I read one of your post on the ShareInvestor forum, found that your recommendation does provide high probability on winning… and thus follow on to read some of your stuffs. Thanks for sharing.
To my experience, most trading books and courses are only able to provide very basic ideas which are almost all avaiable on the web today, and most brokers are basically middleman just to collect commission, while trading firm care only their profits rather than clients profits. So, it is good to find someone that is having an Intention setting out to help clients making money! Cheers.
Bless You
KH Tang
BTW, I had also done quite some research on the Tape Reading, and have an article on my blog:-
http://blessedfool.blogspot.com/2009/10/stock-market-tools-5-tape-reading.html