Bryce Gilmore's Price Action Manual- help please

Discussion in 'Educational Resources' started by DayTrader07, Feb 12, 2007.

  1. I saw that Bryce Gilmore is selling his manual for AUD 125. His previous books were too expensive for me to buy. I am curious why this one is cheaper- because it is sold as an e-book? Has anyone read it? I made a search in Elite Trader but could not find any posts regarding this issue or about his software.

    I have registered to eSignal recently and I am planning to buy this e-book and WaveTrader III, but I would like to get some feedback before doing that. Any help/comments will be much appreciated.

    Thanks to all who respond,

  2. test
  3. Ex1


    Hi Daytrader.

    I have the new book - it is excellent!!!!

    Have you been able to read any of his other material? This is carries on from his previous work and is top quality. It is true that this book is cheaper compared to his other books, this is mainly due to getting spread the book over a wider audience. Also the fact that it is an e-Book doesn't mean he has to go through all the worries of postage, publishing etc etc.

    As for his software, well I would be lost without it. Couldn't imagine trading using anything else. If you are looking at getting WaveTrade III make sure to look at the WT-ES as these two go hand in hand.

    I will ask Bryce in the Hotcomm room if i can post a pic or two of the book for your benefit.

  4. I bought it last week, but haven't had a chance to read it yet. I'll try to post my comments in the next week.
  5. I read through the manual quickly, and I say quickly because I could tell after the first 45 pages that this manual was not for me, so I skimmed the rest. Let me first say that I bought the manual because Bryce Gilmore’s course was recommended to me by responsible people. By all accounts, Bryce Gilmore is a profitable trader, who teaches a working method.

    However, it is much too complicated for me. Let me give you some examples. He says you need a minimum of 2 computers, and a minimum of 2 screens on one of them, but preferably 3 or 4 screens (giving a total of 4 or 5 screens on 2 computers). He has you looking at 5 timeframes, on each of the ES, S&P Cash, the OEX, and I think the Midcap 400 (though I’m not clear on that one). He uses confluences of Fibonacci numbers, Elliot Wave, Gann, Floor Trader Pivots, Opening Price, Opening Range, previous support & resistance from prior days, and several chart patterns. He recommends his 2 software packages, WaveTrader III and WT-ES Assistant that will, presumably, catch and display a lot of these things.

    I have mild A.D.D. and I tell you, if I started looking at the 10:30am bar for all these things, the market would be closed and my wife would be calling me for dinner by the time I was done. “Keep it warm, honey. I have to look at the 10:35 bar now.”

    After all this, he says they will give you a better than 50% chance of a winner (I sure hope so). Then at the end of 241 pages, he ironically says “keep things simple….the more complex you make it the worse it becomes.”

    Maybe it works. I have no reason to doubt it, but I’ll never know for sure. By contrast, I trade off of one symbol, one chart, one setup, no indicators - but I do that one thing very well, and I just do it over and over – very boring. So why did I buy the e-book ? Because it was recommended, because I’m bored, and because I’m a book and trading junky, always looking for another idea. I wouldn't have come up with my "one setup" if I had not kept learning about other people's ideas. And that might be reason enough for you to buy his e-book - to get an idea or two.

    Hope this review helps.
  6. Great follow-up post.

    Thanks for the info, thanks also for the confirmation of the KISS thinking.

    It won't necessarily get a trade everyday, but when it does setup, you're going to win a lot more than 50% of the time.

    Good trading,

  7. TYVM trader416

  8. balligil


    Just for your information:
    I don't get involved with this site anymore due to a number of reasons and most of the longer term trading community would realise why.

    Nevertheless I would like to congratulate you guys for starting a thread on the PA E-Book.

    The truth is I am now retired from trading and produced this Price Action book as a going away present. It does not create any problems in distribution as I have a helper to do all that. So I can make it available for a price that in effect is less than a parking infringement.

    The methodologies I use and explain in the E-Book are widely used practices employed by the smart money traders, large program traders and hedge fund insiders.

    Now this method of mine may not suit everyone with a thinking disability so they should stick to what they can do best.

    But if you have the inclination and want to build up an arsenal of trading methods (like a professional) that can be worked on all types of markets you should look into it.

    I don't care about your money as I have more than enough but I will eventually sell off this business and then you will have to deal with someone else when I do and they may not be so generous as I am being.

    That is how the world works.

    Now I have sent this message through a non de plume just so you can figure out if the PA E-Book is worth your attentiion. You decide as if it isn't I wouldn't have all the people I have using my method and our software.

    There is not a person in this world that could refute my methods work. The only problem for some is in trying to recognise the set up as they come to hand. Now that is a matter of skill in a way but that is what it takes to be a winner.

    I could never be responsible for the intelligence level of traders since I know that 90% of them are consistent losers.

    So you guys work it out for yourselves.

    If you decide to use my method well it is up to you - I can only give you the opportunity that is all I owe this business since it has been so good to me.

  9. Compared to the other ware's he's hawking, this price is a flea market special.

    Hey, I'm sure you will have compleat mastery of trading after his courses reveal all the secrets of the markets to you for $1999.99.

    Go for it

    Jimmy Jam
  10. IF you suckers cant see why its so cheap then god help ya in the mkts. IT is so cheap to get you interested then hooked so you will buy his wavetrader software.

    That is the only reason he is doing it. Way back in the yahoo wavetrader group days Bryce always said watch 1 mkt 1 screen and you will make a mint. Now his software has become so complicated even he cant read it any longer. Thats why he is selling his business. LOL

    He always said dont use indicators they are rubbish, yet each chart he posts these days has a stoch or a OBV indicator on it.

    Bryce has just turned into what he said he never would, a rip you off with my software vendor.
    #10     Feb 16, 2007