How to use Support and Resistance Effectively - page 71

Wayne Ovenstone
857
Wayne Ovenstone  

Here's my 5c on the matter, stolen from a book I really enjoyed reading.

Chaos is not dangerous until it begins to look orderly.

Irving Fisher, a distinguished professor of economics at Yale, made a bundle on the stock market. Impressed by his combination of impeccable academic credentials and practical investment savvy, people flocked to him for advice. "Stock prices have reached what looks like a permanently high plateau," he announced in September 1929, just before he was wiped out by the worst crash in Wall Street history.

It just goes to show you. The minute you think you see an orderly design in the affairs of men and women, including their financial affairs, you are in peril.

Fisher believed he had beaten the market by being smart, when what had really happened was that he had been lucky. He thought he saw patterns amid the chaos. Believing that, he believed it should be possible to develop formulas and strategies for the profitable exploitation of those patterns -- and he believed, further, that he had in fact developed just such formulas and strategies.

Poor old Fisher. Fate let him ride high for a while so he would have farther to fall. For a few years his illusion of order seemed to be justified by the facts. "See!" he would say. "It is as I determined. The stock market is behaving just the way I calculated it would."

And then -- whomp! The bottom dropped out. Clinging to his illusion of order, Fisher was unprepared for his streak of luck to end. He and a lot of other misguided investors went tumbling down the drain.

The trap that caught Professor Fisher, the illusion of order, has caught millions of others and will go on catching investors, speculators, and gamblers for all eternity. It awaits the unwary not only around Wall Street but in art galleries, realty offices, gambling casinos, antique auctions: wherever money is wagered and lost. It is an entirely understandable illusion. After all, what is more orderly than money? No matter how disarrayed the world gets, four quarters always make a buck. Money seems cool, rational, amenable to reasoned analysis and manipulation. If you want to get rich, it would seem that you need only find a sound rational approach. A Formula.

Everybody is looking for this Formula. Unfortunately, there isn't one.

Lewis Evans
59
Lewis Evans  

Nice! Of course, the writer is quite right, and one of the things I always tell people to guard against is the idea of setting rules in their heads when they trade. We have a fluid situation in trading - both on the charts and in our heads! There are patterns, and they are fixed, but they are fractal in nature, and we have to have a way to see which fractal applies at any time. In order to do that, you have to be clear and present, but when you are used to looking at them, and can identify particular situations, you can also know precisely where they are going either in the short or long term, depending on the size of the fractal that applies. Check out my videos for some examples.

YouTube - leftbraintrader's Channel

Walander
576
Walander  

I would love to actually have a live debate with you here in Forex-TSD with you, because it seems that most of the wording you choose is right out of books.

You claim in your first initial post that your framework is "Fixed" and because of that they have relative strength. No, I will already disagree with you on that, and I will always disagree with anyone on that, there is no such thing is "fixed" "static" and or "permanent" in Forex- and if you believe so, then your idea is based off stupidity and is used in vain.

My personal opinion, after watching some of your helpful "youtube" posts are all based after that fact- is lovely how all you commercial sellers do videos based off NON real-time examples. Do a live Video, show people LIVE results- or is that only in your 800$ Course?

So out of curiosity, you know in 2005 when you came up with this "BRILLIANT" idea, by any chance did you Read WD Gann's work then decide to evolve it as a majority of the public don't actually know what WD GANN was doing? Your Fibonacci Framework looks like a kids attempt to plagiarize someone's life longs work by changing up the numbers. Somebody look up SQ of 9 for me, and replace it with Fibo Numbers

So what part should I pick at next? Your background as an Artist? The fact that "just" because you've published in 2005 doesn't mean you actually have any experience as a trader? Just because you have this "supposed," after judgment, 3 years of experience, does not mean any any way you're credible? Larry Williams has been trading just as long as you and you both seem just as fraudulent.

Why?

You don't admit your flaws of your system, and much of your posts here originally were most likely to develop your tools in you $24 package of yours. Once that work was done, here and everywhere else, you have yet to fail to leave "Absolute Fibonacci Framework" somewhere in your posts.

You claim you're here to help, there are other ways of helping, especially on this very well established thread. Your FIBONACCI FRAMEWORK is not needed to improve anyone who uses this thread properly, and the only use of that word is for marketing purposes.

So, Lewis, Let's not get ahead of ourselves baby Einstein, because in relative strength terms, you're about as relative to a fraud as a fraud is the pope.

If you're here to help, why not dispel some how you're learning that were not used and or needed to the creation of your suppose theory. Why not actually critic? You're not here to help, you're here to sell. Do you think I'm stupid? You're like every other commercial garbage. Your site being no better, and your posts being a LEADING INDICATOR of garbage.

I don't need Fibonacci numbers to know how many people you ripped off. You sort of remind me of FXPrime on ForexFactory- maybe he learned from you, maybe you learned off some generic website on "How to make money through affiliates" or "How to make money off the internet"

You have no trading history, so don't boast around like you do. What you have is a publishing date, a supposed date that YOU use to establish a trading history. No, don't mislead the public Lewis, we all know that isn't your true trading date. You're an artist, maybe a con at the same time. Ha, get it? Its a pun.

Lewis Evans
59
Lewis Evans  

Look, you obviously decided that for some reason or other you don't like me and you don't believe what I am talking about. that's fine with me. There are plenty of traders who don't take such a hostile stance, and who benefit from this daily. I get emails all the time from those who use it and do the course (which is under-priced, by the way though I don't expect you to believe that either!) and get great benefit from what we do here.

The world of Forex seems to be divided into two camps on forums - those who want to learn when they hear about something they don't know about but that may be interesting, and psychos who see themselves as some sort of vigilantes protecting themselves and/or other traders from scams. Of course, they believe that everything is a scam until they decide otherwise, but I am not sure how anyone can prove anything to those who behave so crazily. I certainly can't be bothered. Sad, really. I can only guess that they are not successful at it themselves, because if they were, they surely wouldn't bother with these kinds of posts.

As I mentioned, I discovered something, and decided it was worthwhile enough to write a short book on it to share that with other traders. Traders usually get the cost of the book back with their first trade using the technique, and if they can't afford it without thinking about the cost too much, I wonder if they should be trading. Anyone who has published a book knows that you don't get rich on it (or the occasional course), so it's more a 'labor of love' than a serious attempt to make money. You can make real money trading, if you have a good technique and a balanced mindset. The reason I wrote the book is because it's pretty well impossible to explain the technique properly on forums, and I would not be doing anyone a favour if I tried to, as they would only get it in bits. Also, I want to concentrate on my trading rather than this kind of tortuous conversation with someone who obviously isn't interested, and in whom I have very little interest. It's the others I am writing this for.

I further extend the learning with a free forum, and I regularly produce the videos are there for those who understand the technique (there is a statement explaining that at the beginning of each one - others won't understand the terminology). These help people (see the comments!) who are using the technique to further understand how to use it. All that for about $22.50. Not bad, really. Trading is a process, and you can't get it all from a book (particularly mindset), and it takes time to adjust to the new technique.

So, what great contribution to trading of yours can I go and look at? Or do you just do the usual stuff and spend the rest of your time shit-stirring?

We'd all love to know.

Walander
576
Walander  

Good job on avoiding all statements and questions.

PS. I help people, not publicly. Anyone who has ever had enough "shit"-stirring confidence to pm for help, or provide help, I invite to join me on Skype for discussion. Unfortunately, I don't accept Larry William look alikes. Besides, I don't need to give people my resources so that they could benefit from it from selling it on the internet, Lewis. I help who is needed to help, you're just a salesmen.

Final Edit:For all intensive organic google searching purposes, I will be creating a blog with these posted up for the public to read. So when they do search, Left Brain Trading, they will see my "shit stirring comments" and make a decision for themselves. Happy Lewis? I'll let the public decide.

I'll make sure there's enough link-ins, posts on youtube, and .. what else? Several posts on other forums to lead to these posts.

Cheers,

niceguy777:
Look, you obviously decided that for some reason or other you don't like me and you don't believe what I am talking about. that's fine with me. There are plenty of traders who don't take such a hostile stance, and who benefit from this daily. I get emails all the time from those who use it and do the course (which is under-priced, by the way though I don't expect you to believe that either!) and get great benefit from what we do here.

The world of Forex seems to be divided into two camps on forums - those who want to learn when they hear about something they don't know about but that may be interesting, and psychos who see themselves as some sort of vigilantes protecting themselves and/or other traders from scams. Of course, they believe that everything is a scam until they decide otherwise, but I am not sure how anyone can prove anything to those who behave so crazily. I certainly can't be bothered. Sad, really. I can only guess that they are not successful at it themselves, because if they were, they surely wouldn't bother with these kinds of posts.

As I mentioned, I discovered something, and decided it was worthwhile enough to write a short book on it to share that with other traders. Traders usually get the cost of the book back with their first trade using the technique, and if they can't afford it without thinking about the cost too much, I wonder if they should be trading. Anyone who has published a book knows that you don't get rich on it (or the occasional course), so it's more a 'labor of love' than a serious attempt to make money. You can make real money trading, if you have a good technique and a balanced mindset. The reason I wrote the book is because it's pretty well impossible to explain the technique properly on forums, and I would not be doing anyone a favour if I tried to, as they would only get it in bits. Also, I want to concentrate on my trading rather than this kind of tortuous conversation with someone who obviously isn't interested, and in whom I have very little interest. It's the others I am writing this for.

I further extend the learning with a free forum, and I regularly produce the videos are there for those who understand the technique (there is a statement explaining that at the beginning of each one - others won't understand the terminology). These help people (see the comments!) who are using the technique to further understand how to use it. All that for about $22.50. Not bad, really. Trading is a process, and you can't get it all from a book (particularly mindset), and it takes time to adjust to the new technique.

So, what great contribution to trading of yours can I go and look at? Or do you just do the usual stuff and spend the rest of your time shit-stirring?

We'd all love to know.

RickW00716
733
RickW00716  
niceguy777:
Look, you obviously decided that for some reason or other you don't like me and you don't believe what I am talking about. that's fine with me. There are plenty of traders who don't take such a hostile stance, and who benefit from this daily. I get emails all the time from those who use it and do the course (which is under-priced, by the way though I don't expect you to believe that either!) and get great benefit from what we do here.

The world of Forex seems to be divided into two camps on forums - those who want to learn when they hear about something they don't know about but that may be interesting, and psychos who see themselves as some sort of vigilantes protecting themselves and/or other traders from scams. Of course, they believe that everything is a scam until they decide otherwise, but I am not sure how anyone can prove anything to those who behave so crazily. I certainly can't be bothered. Sad, really. I can only guess that they are not successful at it themselves, because if they were, they surely wouldn't bother with these kinds of posts.

As I mentioned, I discovered something, and decided it was worthwhile enough to write a short book on it to share that with other traders. Traders usually get the cost of the book back with their first trade using the technique, and if they can't afford it without thinking about the cost too much, I wonder if they should be trading. Anyone who has published a book knows that you don't get rich on it (or the occasional course), so it's more a 'labor of love' than a serious attempt to make money. You can make real money trading, if you have a good technique and a balanced mindset. The reason I wrote the book is because it's pretty well impossible to explain the technique properly on forums, and I would not be doing anyone a favour if I tried to, as they would only get it in bits. Also, I want to concentrate on my trading rather than this kind of tortuous conversation with someone who obviously isn't interested, and in whom I have very little interest. It's the others I am writing this for.

I further extend the learning with a free forum, and I regularly produce the videos are there for those who understand the technique (there is a statement explaining that at the beginning of each one - others won't understand the terminology). These help people (see the comments!) who are using the technique to further understand how to use it. All that for about $22.50. Not bad, really. Trading is a process, and you can't get it all from a book (particularly mindset), and it takes time to adjust to the new technique.

So, what great contribution to trading of yours can I go and look at? Or do you just do the usual stuff and spend the rest of your time shit-stirring?

We'd all love to know.

Would you be able to post some real time trades?

I always believe that concrete proof is the best way to show that something really works.

Not criticizing, just suggesting.

Lewis Evans
59
Lewis Evans  

That's fine by me, and thanks for the free publicity. If you think you've missed any links, let me know and I'll send them to you.

If you actually want to know about LBT, rather than just making uninformed judgments and ranting and railing at me about proof (you are welcome to it, but you'll have to do some work on it before you will be satisfied), I'm happy to chat on Skype and GoToMeeting with you. I do an introductory presentation that may interest you.

Happy New Year - you seem to need it!

Walander
576
Walander  

Lewis,

If you're so serious on this, let's have a face to face discussion. I will fly down to meet you, take me up on your offer if you're so serious.

Give me a place, a time, and a date. Since "I need it". You have avoided all my statements and questions, nonetheless avoided someone elses suggestion on posting your live results.

I'm so poor, I can't even afford a ticket right Lewis? Do you understand that I'm not a child? Stop treating me like one. I will post pictures of the meetup here for everyone to see.

Cheers, Fraud.

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Which one is you, or maybe I should look up your wife Olga to give a phone call.

http://www.facebook.com/photo.php?pid=1974953&op=1&o=global&view=global&subj=657415882&id=657415882

You're not chinese, don't act like one.

niceguy777:
That's fine by me, and thanks for the free publicity. If you think you've missed any links, let me know and I'll send them to you.

If you actually want to know about LBT, rather than just making uninformed judgments and ranting and railing at me about proof (you are welcome to it, but you'll have to do some work on it before you will be satisfied), I'm happy to chat on Skype and GoToMeeting with you. I do an introductory presentation that may interest you.

Happy New Year - you seem to need it!

Lewis Evans
59
Lewis Evans  
RickW00716:
Would you be able to post some real time trades?

I always believe that concrete proof is the best way to show that something really works.

Not criticizing, just suggesting.

Thanks. Phew! Nice to be talking with someone calmly again.

I don't really know how I can do that. They would often be long and very boring videos! The videos on YouTube are the closest I can practically get. They are not rehearsed and the commentary is live. Even then I have to chop bits in the editing as they just get to cumbersome to produce and upload. I always try to show the clock if I remember, so you can see the time at least for each bit.

This thing about traders demanding proof is always interesting. For me, I think it's more important that the trader proves to themselves that their technique and mindset work. If you think about it, it makes no difference if it works for everyone else in the world, if if isn't something you can work with for some reason or other. And there are plenty of very successful traders who employ the same techniques as unsuccessful ones. I don't tell people how to trade, I just give them some tools. They use them as best as they can. It's like any educational process. Some will get it, and some won't.

My interest in telling people about what I do stems from the realization that when we started trading, most of us were looking for financial freedom and independence - and you can't get that if you become dependent on someone else for a system, signals, mentoring etc - by definition. So the Ab Fib Framework, and the powerful mindset work are designed to give traders the ability to achieve that original goal in a way that frees them from dependence on others.

So, I say again, that if I simply put on a circus act and pull a wonderful trade out of a hat live on air, it doesn't help you. It also doesn't mean that you can do it either - but you can find out how to do it for yourself, and that to me is much more valuable.

Am I making sense? (Oh dear, that's an open door for the other guy, isn't it! )

Lewis Evans
59
Lewis Evans  

Er, Dear Fraud,

Can you afford a plane ticket to Europe? When we meet at the airport, I'll be the one dressed in a suit of armour, carrying a wet cabbage to throw at you.

I don't live in Vancouver any more, (I really must update my details on Facebook) and I am sure that those people whose addresses you have posted won't appreciate it...