Stopped out with a 3 pt. loss. The Trader Trick entry was actually invalidated by the Red bar following the Signal bar. I had the Buy Limit order sitting there and still felt the trade was possible UNTIL the Green POTENTIAL signal bar bottom was taken out.
Someone ask if they knew anyone who has taken private lessons from Joe Ross. I know 2. One guy never did anything with it, but loved the lessons....he was just too busy in life to take on trading. So he sent his wife. She was totally green, did not know a stock from a bond from a option. Joe spent 1/2 a day figuring out what she would be good at and taught her covered calls. Since May she is on track to be up over 25% for the year on a 300k retirement account. She is at the screen about two hours a day. It is the first time this couple has had good gains in a long time. I know from experience that Joe is the real deal. There are not very many out there that are.
Thanks for the story. Very interesting that the guy sent his wife so he could focus on something else. In 2001 my wife and I spent 10 months attempting to daytrade the S&P emini and Euro futures. No luck and I had to go onto paying work: she had no interest in continuing trading. Now I'm back to trading the emini but she has no interest.
No offense Joe I'm sure your a nice guy but vendors like you are dangerous because you sell history and you really don't teach people to do much other then have faith in the past. Rule #1 Forget about looking for silly patterns and focus on UNDERSTANDING the market and learning Why, How and When price moves.
I know there are a lot of dangerous, phony, huckster's in this business. Joe is not one of them. I know this from experience with him and others who have worked with him. What he teaches is very profitable and worth wile for me. I had to UNlearn about 90% of the garbage I had about trading before I could see the simple, powerful, methods that work. I have ditched about 30 trading books, and only have Joe Ross and Marc Douglass on my shelves now. Works for me. If it does not work for you, so be it. Unless you can point out something that is true about his teaching, you are making false claims. So far it looks as though you do not know what he teaches.
6 posts and you want us to believe in your credibility ? I've read Joe's work so I'm not talking out of ignorance. I'm sure some of his stuff works some of the time but the logic of looking for historical patterns to repeat is flawed. History repeats itself but never in the same way and never with the same participants. Markets are alive and in constant flux.
This begs the questions: Why do 95% of traders lose? Why can't most fund managers beat the index? Something is missing. Something is wrong.
Fair enough. I do not post, or even visit very often (almost never) I was surprised to see Joe Ross when I did a scan. I have never once heard him speak about trading history. Only to learn to "trade what you see, not what you think"......that sounds corny maybe, but it goes against 95% or more of the market participants. Most are on a never ending treadmill of trying to understand and figure out why the market does what it does. That is the "black hole" of trading. If a guy can just learn a little more, get it down pat a little better, he can remove all the uncertainty and be able to trade without fear of what is going to happen next.......the truth is you can NEVER know what is going to happen next. Those same traders find out the more they know and learn, they still loose, so they study harder to stop those losses....Like I said, the treadmill. I am very happy trading like I do. It is pretty carefree. It was not always like this, I had as many troubles and made all the mistakes 10 times over. Hope your happy as well. We really have nothing to gain by going tit for tat with each other. Best if we let it rest.
amazing post and insight...thanks...agree, master one trading vehicle and become and expert (do not have that one down yet )... Thoughts on #6 comment... this really defines where everyone really wants to be, throwing 500 cars at the ES for 1 point gain and a $25,000 profit!...what valid arguement can combat this?