So far I learned that I have to look for "set-up" markets on weekly charts. The set-up markets alert me that we are approaching a top or a bottom. When I identify a "set-up" market, I then look for entries on the daily chart (using one of his entry techniques). Determine protective stop. Look for places to exit (using one of his exit techniques). To sum it up: Find a set-up market (on weekly chart). Look for trigger to enter (on daily chart). Predetermine protective stop. Look for places to exit.
look, i know i am not very patient, but after 6 pages, you still haven't got to your point: Fading a Guru. Just tell us which guru you are fading. Get to the point, don't waste our time, ok? Is it Nodoji or Investvision? I would go with Nodoji, she is the most guruian on ET.
If you go to "your account", "edit options", "thread view options", "default posts per thread"... select "20 posts per page", then click the "submit modifications" button. If you did that, you would only have had to read two pages.
He has it right. You can't just fade a loser to come out a winner and his reasons cover enough the major drawbacks to your plan that from his post alone you should realize your experiment is doomed.
you never said you would FADE Larry Williams. you said you would pick up a strategy from him. The verb "FADE" never came together with the object "Larry Williams." by the way, who is Larry Williams? brother of Serena Williams and Venus Williams? I still think you should fade Nodoji, she is the mother of all gurus.
You may be right. But I still would like to develop a trading plan and take trades that fade losing traders. I bet that alot of people that attend Larry's seminars and trade his strategies are losing traders.
It is an interesting intellectual exercise. As long as you realize the limitations you should both have fun and learn some things. Have no doubt there are plenty of dead loser gurus. Like pretty much all of them!