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Thursday 6 May 2010

MUST read Books.


On this page i will list free, 5 star E-books that i have found to be invaluable, enjoy.
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A magnificent piece of work. Hard to get. Used copies on ebay and amazon Selling for £300.00



Day Trading With Short Term Price Patterns and Opening Range Breakout
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The truth about day trading systems.
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an amazing insight into the frame of Mind needed for day trading.

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Wednesday 5 May 2010

Tricks used by system sellers.

I will list on this page some of the tricks used by system sellers to lure us in to believing that every thing they say is true.

(1) Real time trades sent by E-MAIL to prove their results.
Ok, a so called system teller, decides to give you a sample of the trades that he makes, so that you can see for your self at what times those trades were made. How? you would look at the 'sent' time stamp when you receive your email. Now you would think that the time which is stamped on your email is the correct time. YOU ARE WRONG, they use sophisticated software to alter the time stamp on the email. It's called " EMAIL TIME STAMP MANIPULATION"

This kind of trick has been around for a while, and is still used today. So be ware. Treat email results with caution. For more info just google, email time stamp manipulation.

(2) Trading results. I have to admit that my favourite page on the system sellers advert page is, the results page. I look at that and start thinking, WOW, even if i make half of that i will be rich soon. NOW step back a bit, and ask your self, Why should you believe these results? Have they been proved to a reputable third party? The irony is we assume that these people are telling the truth, when in fact they are trying to con us. Also watch out for " hypothetical" results, which mean that the trades haven't been traded/executed. They have just been tested on historical data. Trading results should be ignored unless they are proofed to a third party.

(3) Money back guarantees. Unless you use the top three publishers, who will give you a refund without any questions what so ever, you will not get a refund. Somewhere in their small print, usually hidden at the bottom of the page. It says that you must have traded the system on a live account and you must forward the statements to show that you have actually made the trades. So be careful, only buy from the top mainstream publishers.


(4) Testimonials. We seem to feel assured by the hundreds of testimonials on the ad page, that they are genuine, are they? Tom, Dick and Harry are all very happy they have made thousands of pounds a week. Why do you need testimonies? The biggest testimonial is "proof your trades to a third party" simple.


More to follow.


Saturday 1 May 2010

MUST visit sites for Trading Education

Over the years I have learnt a lot from surfing the web. Below are sites that I have found to be invaluable. Please note that I AM NOT AFFILIATED TO ANY OF THESE. I do not get any commissions for promoting, neither do i have anything to sell. Do not buy anything, just learn from the contents. They are a good place to learn. just click on them. I will only put up the sites worth learning from, not just any junk.











www.trading-naked.com mega for trader education.


http://www.forexisbiz.com/forumdisplay.php/8-Discuss-Manual-Trading

(the only one you gonna need for all the latest trading systems. free registration.. then just scrol half way down the page and all the threads are with systems attached to them.)








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About Me

west midlands, United Kingdom
I am not an expert. I am just an average guy. No PHD in economics. I use the trading knowledge and the knocks that i have acquired on the way to, make money trading using a slow and steady calculated approach. Rather than going for the big ones. I try and take small profits by using multiple strategies, which when added up all together at the end of the month, give a healthy monthly profit most of the times. I sometimes average a meager 45 points a month from from one of my methods. The majority would put that method in the bin straight away. But when i have 5 of those methods running side by side, I achieve my target most of the times. It is an attempt to make the newcomers see that the "systems" or methods that we discard because they don't make 1000 points a week! should be retrieved from the bin and used constructively. This is my approach. You will with patience formulate your own, in time. Thank you for following my blog. you can contact me at daytradewitheddy@hotmail.co.(uk) just remove the brackets from uk