thanks for the pointer about volman's book, i'll check it out. i showed someone my intraday charting and they were surprised at how minimalistic it was. my charts are: price, volume, RSI (to avoid getting in when it's overbought/oversold) and a 20SMA. i'll often project the SMA a couple bars out to see where it's going, but that's it. on hoffman - it's been stated a lot on some other boards (by people who were in the room) that his blowup day wiped out at least a year's (and probably more; i'm being conservative on my recollection) worth of trading profits. doesn't matter what size account you have, if you're blowing up a year in 1 day, that's not good risk management.
So you're saying, because Austinp sells trading advice, not investment advice, that he has no integrity? I don't think that's correct. Belief in your techniques is not the same as having no integrity. You can't be a sellout if there's not enough money to sellout.
Unless the author is a magician, trading at fx bucket shops with 6 pips SL is fantasy. He would have been spiked to death via their platforms. If he exclusively trades 6E, then maybe.
I assume you can adapt his methods to any liquid futures instrument and not just to other FOREX pairs? I like Al's work but Bar by Bar in particular was hard reading. A simplified Al Brooks sounds like heaven. Thanks for the recommendation.
I used to work for a futures clearing firm and I watched a client win 48 days in a row. And I knew it because I seen his account statments in our system. That was impressive. There were a handful of very profitable traders at the firm that I worked at. Lots of HFT trading at the firm. But impressive wins non the less.
................................................ newbs lying at the side of the path with the false needle of hope hanging out of their arm. many apply, few are chosen or actually chose to be...... s
I spent some time paging through Volman's book and he seems to be the real deal. He is clearly a better writer than Al and the book is almost enjoyable. Although Al says that his sole purpose is "to take money from your account and put it in mine," I don't think that's the whole truth. Al eats, sleeps and breathes this stuff and in a lot of ways is the mad scientist of price action. He is just as interested in the strategy and tactics of the chess game of trading as he is in making money. Anyone who has spent any time reading and listening to him knows that. Al will forget more about price action than Volman knows. However, Volman knows more about price action trading than the extreme majority of us. I think his book is a valuable addition to a trading library. Mine used to include dozens of books... now it's down to 4 or 5 maximum. It's funny, Al considers himself a trading hermit but he is everywhere. Try finding something on Volman... the guy's a ghost.