Any successful Traders among them all?

[tradingjournals]

Quote from marketsurfer:

He has better/smarter things to do.

and how do you know? Why you do not then do what the son does rather than what the father does or supposedly does?

 

[tradingjournals]

Quote from 007Arb:

Nice insights so I obviously agree wholeheartedly. I've always felt the more indicators you use (one is too many) the further away it takes you from what pure price action is telling you. So to me there is no science or left brain thinking needed or required. Of course easy for me to say since fortunately I am a southpaw.

If what the right brain creates cannot be quantified/etc by the left it is more likely worthless than not.

 

[pemully]

there is a small book written by Livermore called "how to trade in stocks".I find it to be the best book ever written on trading.
its simple and to the point.He disowns bothering with fundamental analysis and focuses on price action only.This book was written after he blew his account.

 

[Slope Trader]

Quote from Look4aSine:
"Honestly, this really all boils down to "inspiration" for me.
It would just be nice to read a biography of a truly successful trader.
Not just another story about a math nerd who writes books and wins awards."


Have you read "Pit Bull", a biography of Martin Schwarz?

Fascinating book about a super successful trader. I wouldn't call him a market innovator, necessarily, though, which you asked about initially.

 

[marketsurfer]

Quote from tradingjournals:

and how do you know? Why you do not then do what the son does rather than what the father does or supposedly does?

Because I am not he. Is Ty bollinger his son?

 

[oldtime]

I always liked those Bollinger Bands. One time when I was really down on my luck, I developed a rules based system trading them.

So it worked out ok for a while, until Alan Greespan started talking. I mean it went on and on. One minute he was talking about rates, the next minute he was talking about "irrational exuberance" And within 30 minutes, everyone of those bands got hit (and I had them set really wide) so I religously bought and sold according to my rules.

At one time, I was down more than I had ever been in my life. A few minutes later I had made a fortune.

When it was all said and done, I ended up about even.

Back then the conclusion I came up with was, "See? those Bollinger Bands work!"

 

[oldtime]

I still like them, especially over there in forex. But if you really listen to him talk, he gets you on the right path, and insists 90% is money management, 10% is reading the market, and his bands are a consistent way to read the market, which are useful 10% of the time.