**Steinitz** Method Revealed Here - page 12
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hi steinitz heres the problem i have i have seen it before on these forums and it does get kind of boring already if someone is going to post an outragous statement like the one you showed i am not saying you dont have 5 million dollars or not i dont care you posted it for a reason so when someone wants to check its validity of trades you made and see where they are on chart and cant why is it so hard to explain come either explain it or why bother posting at all if your goal is to help then help otherwise what is your goal?
No here's the problem. I will repeat myself once again. I feel like I am talking to a brick wall sometimes. What don't you understand? I can't go back and explain every trade as to what TF it was since I spend about a minute on every trade using my rules.
Here are the rules again:
1. Start at the highest TF
2. Now move down TF by TF until you see a counter trend
3. Once found you enter on this counter trend in the direction of the main trend.
I am not keeping records on every trade nor is it necessary for me to do so. This is a mechanical method. The only reason this guy wants to know this is to check me out and see if maybe I can be tripped up.
I say this. Take your demo and follow these rules and check this out for yourself. Maybe I am crooked and used a paint program to jimmy the results. If it were me I wouldn't trust anybody. I live in Vegas and I have very few people I believe when boasting earn rates in gambling.
It's people like you that will always fail. People that are negative attract negative. Ever wonder why certain people have success and others fail miserably. It's the law of attraction. Go rent "The secret" It's a great CD and maybe you will watch it and learn.
I visualize myself making money and it comes. I put myself on these forums and I attracted some pretty darn smart people and I came out with this method. I can walk right now. I don't really see a need for am EA or alert. It would be cool to have one but not necessary.
I stick around to see if I can help just one guy out there as I feel blessed and have the time of my life.
Scaping method
Somebody asked me from Forex Factory which method I am using. Here is my reply:
What I find is the best for me is scalping:
1. Start at the highest TF
2. Now move down TF by TF until you see a counter trend
3. Once found you enter on this counter trend in the direction of the main trend.
That's about it. If you want to fine tune your counter trend entry just look at one more lower TF and wait till it starts to reverse. This way you will avoid being in the countertrend too lond before it comes back your direction.
There are pluses and minuses. If you wait to enter you could loose some initial PIPS. However, this confirmation wait can help with drawdown and certainly does.
__________________
listen i wasnt bashing just trying to line up you trades with the statement thats all cool down relax i understand your method you dont have to be a rocket scientist to understand it but doing just what you have said it still doesnt line up but thats ok i figured it wouldnt since as you said its mechanical in nature which means you can do what evre you want when you want therefore its up to the trader to come up with there own trading rules to trade it
Original method
And for anyone here that wants to read about the original method please go to the following link and read my word doc.
Here is the link:
http://www.forexfactory.com/showthread.php?t=21899
Fellas - Steinitz has a powerful and potentially lucrative method and he's been gracious enough to offer it up here. Let's all just be helpful and cooperative and focus on the method to refine and improve it. Bashers and wiseguys can take a hike. I personally would love to build an EA out of this and hopefully we can find the hybrid ingredients from the different variations Steinitz prescribes for trading it.
Mr. Steinitz,
Many of us here are looking for something more profitable than what we now employ; we come here with perhaps a bit of naivete, no street savvy of these forums and tend to believe more than we should. In this case we see Mr Steinitz proclaiming a near "holy grail" method and after some initial investigation we become hopeful that maybe we have finally found a simple method that we could put to use with a fitting MM strategy and achieve our goals.
I see two of these same kind of people expressing a concern over contradictory trading practice by Mr Steinitz. For followers who hang on every letter of his direction, they must feel a sense of incredulity that some of his trades are taken in direct conflict to the rules that he so vociferously explained and punctuated in post 68 about "blindly following the rules...."
Then you have that kind of a response to legitimate questions, and yes Mr Stienetz it was rude and seemingly arrogant and leads one to wonder if that isnt the reason you're no longer moderating.
And just for the record, whether you know it or not, a black jack player does employ stops - he has the luxury of asking himself each hand if he's in or out and for what amount of risk. We all know markets are not that forgiving and once you're around long enough to be hammered by a BOJ buy down or a Bill Clinton sellout ('97), you'll realize the very basic reason for having a stop.
I personally have found your method very tradable from my perspective and simple to follow and would like to continue to follow the results of your efforts and your generosity in sharing this with fellow traders. But whatever the reason, I would respectfully request that members here be treated with respect and courtesy.
I wish you luck and much success in the development and implementation of your method.
WTLet me set the record straight regarding blackjack. Having played it for 32 years and knowing almost everything there is to know about BJ I am going to defend what I said. We have no stops. We have an edge we bet it. If your bankroll is less this session then the last we adjust our bet size according to our current edge on any given count and our present balance of our bankroll. This is known as the "Kelly Criterian"
No stops. Just plug me in and let me play until the casino catches on or I stop because I am tired or had a killer shoe good or bad that caused an event. Then it's time to go.
Listen. I am here putting a lot of time into these threads to help you out and I have been helped as well. This is a symbiotic relationship. I need help with members either reading everything carefully or help out to write a word doc explaining where we are now.
This method(s) will evolve. I am no guru. I am just a fast learner with a good sense of logic and a burning desire to excel. I presently have 4 business that I run and my wife and Shi Tzu need my attention. I lost my second wife do to extensive time studying all the tracks in the U.S. and computerizing a system for horseracing.
I mention this because I am passionate about making money and looking for edges that can be exploited. I sometimes sound arrogant I admit but if you were me it would be hard to be humble. I say that half kidding.
To be a your top of your game (high limit poker) you need a bit or arrogance and style to increase your edge. Really.
I don't mean to offend anyone but I don't have the best patience and I just say it as it is. There is NO sugar coating with me. If you want to be caudled you won't get it from me. Go see your mother or girlfriend.
Having said that I am a no nonsense kind of guy. If you don't like my attitude you will not offend me to leave this thread and seek another where the moderator is more gentle, warmer and chooses not to God forbid say anything to hurt someone's sensitive side.
I am here to share information and make money. If you don't agree with how I do things then I am sure you can find other threads on here. This is what I mean I just spent 1/2 an hour on bull****. I could be doing something else more constructive.
Thank you
Fellas - Steinitz has a powerful and potentially lucrative method and he's been gracious enough to offer it up here. Let's all just be helpful and cooperative and focus on the method to refine and improve it. Bashers and wiseguys can take a hike. I personally would love to build an EA out of this and hopefully we can find the hybrid ingredients from the different variations Steinitz prescribes for trading it.
Bluto......
Thanks bud! I will count on you in the near future to help with the programming. I think we need the dust to settle and pick out 1 or maybe 2 methods most.
There are guys making real money on this right now and are as happy as pigs in s**t. Let's test this for awhile and make sure I am not just getting lucky.
Trying to be humble
Update on the trades I have so far
Just an update
Method/EA Testing Volunteer
Gang,
I'll familiarize myself with the manual method over the next few days, and try to test it. Since I travel a lot my input there will be limited.
I can, however, test the living heck out of it if an EA gets produced - no problem to run different brokers/timeframes/pairs on live demo accounts.
Just let me know, and I'll do what I can.
WB
Bluto......
Thanks bud! I will count on you in the near future to help with the programming. I think we need the dust to settle and pick out 1 or maybe 2 methods most.
There are guys making real money on this right now and are as happy as pigs in s**t. Let's test this for awhile and make sure I am not just getting lucky.
Trying to be humbleJust keep doing what you're doing.....it's a bodaceous thing!