They are my trading mentors (Let's get prepared for the new week!)
Traders, especially newbies like, might find the information here useful.
In my journey of learning to trade, I benefited a lot from some of the traders in the space of Internet. Luckily most of them have a Twitter account. (Unfortunately, not Steemit.)
I always get enlightened by their post. Not really about the trading technic part, but mostly about trading psychology. I love their mindset. And I do believe that it is the mindset that makes them successful.
Listed below are some of the trading coaches that I followed.
Nial Fuller
Rayner Teo
Steve Burns
Trading Composure
So, traders, have some reading, and get prepared for a new trading week!
I'm sorry but I feel I should let new traders know that Nial Fuller isn't someone that makes money trading. Nial is someone that makes money off his teaching, not his trading.
I followed Nial for a couple years, and it wasn't till after I became profitable that I realized you can't actually come out ahead just doing what Nial tells you too.
What he does is paint a great picture of something that looks great on paper, especially to beginner and somewhat intermediate traders.
But he is essentially "trading against the house". When you substract fees, you are not going to be profitable in the long run. You may experience positive variance in the short-term, leading to wrongful conclusions.
BUT, what he is teaching is based purely on perception...not within the structure of the market, or a zero-sum gaming environment, which trading is.
Joe Ross is not on this list...and probably should be #1. He is old school, because he is from generations of proven traders. His work is a testament to the facts of consistency and patience within trading.
Just my two cents though...all the best of luck in your trading!
Glad to have your feedback. I am still very new to trading. I did learn a lot from Nial Fuller's course - and maybe you're right - its mostly about concept and perception. As a new trader, I do find it useful to some extent. But it is too early for me to tell that whether it is a good method for me.
Will keep in ming about what you say: "what he is teaching is based purely on perception...not within the structure of the market, or a zero-sum gaming environment, which trading is."
Will take a look at Joe Ross too. Thank you so much.
I was trying to think of a good word for Nial. He is a good stepping-stone tho!
Joe Ross is very popular...but he's not all over the internet. Nial is a damn good marketer tho!
With Joe Ross, I think you actually still have to buy his hardcover text books, that have to do with trading commodities such as sugar. haha. It's a bit outdated, but makes perfect sense.
Nial teaches candles, which is the easy part. I feel that 90% of what would make his trading "strategies" successful is the context which those candles lie in. This is much harder to figure out.
I stopped with Nial when the idea occurred to me...well if everyone knows how to trade these long-tail candles, and if everyone is taught to trade them the same way, ie: putting their stops and entry orders in the same place, then how is anyone going to make money? Because....who is losing money? In forex, the banks aren't going to lose money...the WHOLE POINT of the forex market existing is for the banks to create another income stream. That's it. The name of the game is "the banks win".
SO, if the banks always win, then the crowd always loses...and the crowd in this case is the people that are taught how to trade this particular long-tail candle the same way.
Which is why you see price take out the bottom of a long tail candle so often, before reversing and taking off in the original direction!
Yes, you make a good point for me to think. Actually, I just went back to reread our discussion about the chart reading last two weeks. And I think now I get your point more closely.
Nial Fuller's makes sense and logical as a "picture." But I think I still have a lot to learn, especially the "real mechanism" of the market you were saying about. Anyway, I need time to digest. Haha
Let those dots connect themselves! Good luck!