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GetMarketSkills

Posted by Kars 
GetMarketSkills
October 03, 2023 01:41PM
I'm trying to decide whether I should take the course starting this weekend.

I took WSB 1-5 and the advanced course lots of years ago, but I'm not sure that I want to give Gary any more money. I've read some other "reviews" on this site and see that there is some serious aggregation in these parts about these courses.

I find the whole thing annoyingly secretive.

Though I've recently spent time going through my old notes, I don't know that I'd feel confident getting back into the market in my current state.

What I'm not willing to do it some of the daily things he "required" all those years ago. I'm not going to have CNBC/Bloomberg always in my ear. I'm not willing to give all of my focus to the market. If that means I'm not successful in the market, so be it. I'll just live off my military retirement. But my focus on my family and connection with Jesus Christ are more important than allowing talking heads and financial markets to overwhelm my thoughts. That's actually part of the reason that I stopped trading years ago.

But when I read Darcy's comments (for example), I don't get the vibe that she's living her life with Jim Cramer as her personal soundtrack.

(This thread should be helpful for other people who are considering getting back in.)
Re: GetMarketSkills
October 03, 2023 02:05PM
GW's course doesn't do "INTRA-DAY" stuff any longer. No more keeping up with market news, although being aware of isn't a bad thing. smiling smiley No more 5 min plays, no more peaks & slams. No charts smaller than 233 min charts anymore.

That's probably the biggest change to his course.

All the courses are online now. As to whether you should take the new courses since you've been to the old ones, I can't really say. I took all the old stuff and the new stuff. Hasn't benefited me at all.

A few years down the road, I'm preparing myself to be a Walmart greeter, "Welcome to Walmart".
Re: GetMarketSkills
October 03, 2023 02:10PM
Thanks, RichieRick.

I hear those jobs are fiercely competitive.
Re: GetMarketSkills
October 06, 2023 01:15PM
Kars: I have not taken any classes after 1-5 and Advanced and I do not intend to do so. I took GW at his word when he said he was finished taking my money in 1-5. My S/O wanted to take Advanced not me.

Advanced class needs too much money to work. I don’t like adding more work to achieve a result I can achieve with little work. To me that is like washing my kitchen floor every day.

I decided to design how I trade that best suits me. What helped me most was Investopedia. Com. (book) Technical analysis for Dummies and (book)The Market Maker Edge. I skipped over all the information in the books that did not apply to how I trade.

For the first few months I was buying all the books GW suggested in 1-5. Then I said, “Why on earth am I reading everything about line charts, point and figure, and candle names, when I do not use them?”

I use moving averages. I still use GW’s charts settings, but I do not use all his studies. Why did I go with moving averages? GW said in 1-5…”just TURN YOUR CANDLES OFF?” DING, DING, DING went my brain. If you turn your candles off using GW’s settings what are you reading? MOVING AVERAGES. In fact when you research and study what GW taught and his design of his charts in 1-5; it is all moving averages.

Now about taking these other classes GW offers…If you do not have 1-5 down why would you or anyone move to the next stage? If you do not have the basics, how can you advance? And if you are good at 1-5 you have all you need to be very successful so why would you move to more information? I love the KISS method…Keep It Simple Stupid!



Edited 1 time(s). Last edit at 10/06/2023 01:25PM by Darcy3.
Re: GetMarketSkills
October 07, 2023 08:36AM
Well said
Re: GetMarketSkills
October 08, 2023 09:33AM
Darcy3 Wrote:
-------------------------------------------------------
> Now about taking these other classes GW
> offers…If you do not have 1-5 down why would you
> or anyone move to the next stage? If you do not
> have the basics, how can you advance? And if you
> are good at 1-5 you have all you need to be very
> successful so why would you move to more
> information?

I think I can help answer that one. smiling smiley

GW's original idea was to have the students get the information now, while it's available to be had (since none of us are promised tomorrow) and then add it in AFTER you've mastered the earlier stages.
The problem is the classes aren't really structured in that way, and there's no constant reminder that you SHOULDN'T be adding this in until you've squared away on the earlier stage info. Instead there is more like, "by the time we finish this class you should be able to" sort of mentality. Then there's this idea he sometimes refers to as "new students" and "veteran students".

As a side note there should be a 3rd group called, "Gary's groupies". Sometimes I get the feeling he's trying to build a post-world apocalyptic compound for his student followers to come live and serve the collective. Kinda gives me that creepy Jonestown feeling. smiling smiley
Re: GetMarketSkills
October 09, 2023 12:28PM
RichieRick

In 1-5 you can use simple call and puts to reach retirement. Even with a larger chart you can still do calls and puts using moving averages.

Go back and look how often candles bounce off the 20 moving average or bounce away from the 20 moving average. Use the 20 moving average as a support or resistance.

When watching the Najarian brothers I can learn how to do more trades than just calls and puts if I chose to go that avenue. I really don't want to add more work to a trade. More work is simply that more work.

I do buy stocks but I do not trade off what I have bought. I chose to do more like Warren Buffett buy and then buy more of the same. Personally, I never intend to retire because I like working.

This is why I removed all but Stoch RSI from GW's studies and added Money Flow to only 1,3, 5, 13 charts. I look at over bought and over sold compared to my Money Flow. I look for .25 to .50 between where my candles are to the 20 moving average. If the stock can move .50 to $1.00 more before it hits that moving average and indicators say it will move in that direction I buy. Today I bought 4 182.5 Put contracts on CRWD @ 10:42 placed a .50 GTC on it went to the kitchen to do my dishes and before I was done I was out of the trade @ 11;07. I saw I could grab a quick .50 on that trade simply by seeing where the stock was using my candles and the 20 moving average.

Do I often find I sell and could have made more? Yes more often than not but that's okay...I have made my money and now can go "eat cake"! smiling smiley
Re: GetMarketSkills
October 12, 2023 12:26PM
Kars Wrote:
-------------------------------------------------------
> I'm trying to decide whether I should take the
> course starting this weekend.
>
> I took WSB 1-5 and the advanced course lots of
> years ago, but I'm not sure that I want to give
> Gary any more money. I've read free website for musicians some other
> "reviews" on this site and see that there is some
> serious aggregation in these parts about these
> courses.
>
> I find the whole thing annoyingly secretive.
>
> Though I've recently spent time going through my
> old notes, I don't know zumba for beginners that I'd feel confident
> getting back into the market in my current state.
>
> What I'm not willing to do it some of the daily
> things he "required" all those years ago. I'm not
> going to have CNBC/Bloomberg always in my ear.
> I'm not willing to give all of my focus to the
> market. If that means I'm not successful in the
> market, so be it. I'll just live off my military
> retirement. But my focus on my family and
> connection with Jesus Christ are more important
> than allowing talking heads and financial markets
> to overwhelm my thoughts. That's actually part of
> the reason that I stopped trading years ago.
>
> But when I read Darcy's comments (for example), I
> don't get the vibe that she's living her life with
> Jim Cramer as her personal soundtrack.
>
> (This thread should be helpful for other people
> who are considering getting back in.)

It sounds like you're grappling with the decision of whether to take a trading course and re-enter the financial markets, given your previous experience and personal priorities. Here are a few things to consider:

Personal Priorities: You've highlighted that your family and connection with your faith are paramount in your life. It's important to maintain a balance that aligns with your values and priorities.
Trading and Commitment: Trading can be demanding, especially for active traders. It often requires a significant time commitment, constant monitoring, and dedication to staying informed. If this doesn't align with your priorities, it's worth reconsidering.
Education: Education is a valuable asset in trading. While you may choose not to actively trade, keeping your knowledge up-to-date can be beneficial. Consider courses or resources that offer a more flexible approach to learning without high demands on your time.
Financial Goals: Evaluate your financial goals and whether trading aligns with them. If your primary income source is your military retirement and trading is a supplementary endeavor, then the financial impact of not being hyper-focused on trading may be minimal.
Financial Freedom: Trading should ideally offer financial freedom rather than becoming an overwhelming commitment. Determine your risk tolerance and how much time and effort you're willing to dedicate.
Course Selection: If you're considering a course, choose one that suits your educational needs and allows flexibility in how you apply the knowledge. You don't need to adopt the extreme strategies some traders use if they don't align with your goals.
Consult a Financial Advisor: Consider speaking with a financial advisor who can help you determine the best approach to meet your financial goals within your chosen lifestyle.
Continuous Learning: Markets evolve, so even if you don't actively trade, staying informed about financial trends can be useful for managing your investments and making informed financial decisions.
Ultimately, your decision should be based on what aligns best with your current life situation, values, and priorities. It's important to find a balance that works for you and doesn't compromise your personal well-being or relationships.
Re: GetMarketSkills
October 12, 2023 02:06PM
Thanks for the thoughts, Mike. I'll keep those in mind.
Re: GetMarketSkills
October 13, 2023 10:10AM
Kars:

"But when I read Darcy's comments (for example), I don't get the vibe that she's living her life with Jim Cramer as her personal soundtrack."

No, I do not live my life with anyone but Jesus as my personal soundtrack. I followed what GW taught in 1-5 for years. I failed horribly. I pulled out the CD's and listened over and over until I could almost quote them word for word. I was buying every book he mentioned and listened about trading. I even got flash cards to learn the candles. smiling smiley S/O even bought a set for me for my birthday!

As we studied and had been practicing for several years, S/O and I learned GW never said to make sure you do not trade on MARGIN. That is a huge mistake I think GW never taught in 1-5.

Then one day as S/O and I were taking something hit us. We had popped in one CD and we heard GW say..."Just turn your candles off." DING! Why learn all we could about candles and candle patterns IF we should just turn our candles off? When we did turn them off OH MY GOSH what was left? MOVING AVERAGES!

We tore into how GW set up his way of trading and realized it was all moving averages...ALL OF IT!

That's when we started reading all we could about moving averages.

I helped my S/O in his business. We were often on the road 10-12 hours a day. That gave me time to read (out loud so he could hear). S/O liked the small moving averages and when we read Technical Analysis for Dummies S/O set his charts up for fast moving averages. I just couldn't do those, but he could.

After S/O passed I began studying the larger moving averages and the Bollinger Bands. I found, for me, Money Flow and GW's setting for Stoch RSI and moving averages and Bollinger Bands worked for me. I also only use the following charts, 1,3, 5, 8, 13,21, 34, 55. I do not even have a 233 or Daily. I trade NADAQ stocks because they move and are easier to read.

I do not listen to CNBC and really do not like Crammer. I like Charles Payne because he uses charts, but I do not get to listen to him very often. As I get ready in the morning, I listen to Fox Business and usually listen until about 9:30. I have all the books about trading I EVER plan to purchase. I also like Investopedia.com for FREE information.

Finally, I honestly believe 1-5 is enough to get anyone to the place they wish to be. I do purchase stocks after I make x amount of dollars off my trades. I do NOT leave a lot in my trading account. The temptation is too great to buy more than $2,500-$3,000 in options. What I am doing is building something for my kids and grandkids. Not that they would trade but could own some stocks to build something for themselves.
Re: GetMarketSkills
October 14, 2023 02:01PM
I took 1-5 years ago. I took Market skills module 1, 2 and 3 within the past 3 years and there are a lot of contradictions with 1-5. Now GW says never listen to anything about the market, it's all crap, to paraphrase. He also recently said, no one any good at the stock market ever reads any books about the stock market.

I put in a lot of work as he suggests, and have had a very hard time applying his teachings with any success. His answer to students like me seems to be "keep grinding" without any guidance on what to concentrate on.

I think GW made his $ in the 90's when you could throw darts and make $$ because of the tech boom. Now I think he makes most of his $ off his teaching and Alchem charts. As other have wondered, why doesn't he have a class using live charts? Is is because he can't? I may be totally wrong, but I'm done spending money on GW classes. I'm reading books and concentrating on concepts that I've heard about in here.
Re: GetMarketSkills
October 16, 2023 02:59PM
Thanks everybody for their thoughts. I just took the first class this weekend. A couple of points, in case anyone else is thinking about taking the course(s):
- The recording of the training was made in late March of this year (2023).
- GW says he has no ownership stake in Alchemcharts. He said a student created it to look just like GW wants it to. Whether you believe him or not, that's what he said.
- He mentioned, in general terms, trades/gains his son has made. I also tend to think that he still trades. Regarding the comment about making most of his money trading in the 90's, that doesn't make sense to me (though it may well be true). Plenty of people lots their shirts in that decade. I'm sure he and his family (his team) make plenty from the teaching. Anyway...
- He's very active in the private Facebook group - and there's a thread where people can list the following: which training level they've completed, the ticker symbol for the trade, the percentage gain, and the number of days in the trade. There are something like 2,000 comments in this thread (which includes responses). If those aren't motivating, well, they are.
- While much feels similar to WSB 1-5, there are significant updates that have been mentioned above by others. The approach feels much more achievable and clearer to me than what I learned previously from him.
- I know I wouldn't have been able to create my own trading system. Hats off to Darcy and others who were able to find what works for them -- and for sharing it with other.

I'm exaggerating a bit here, but the hero worship does get a bit tiring (and I say this as a career Navy guy). To each their own. He spends time on tangents, but who really cares? He's a passionate dude.

All the best to everybody.
Re: GetMarketSkills
January 05, 2024 04:33AM
MDtrader693 Wrote:
-------------------------------------------------------
> I took 1-5 years ago. I took Market skills module
> 1, 2 and 3 within the past 3 years and there are a
> lot of contradictions with 1-5. Now GW says never
> listen to anything about the market, it's all
> crap, to paraphrase. He also recently said, no one
> any good at the stock market ever reads any books
> about the stock market.
>
> I put in a lot of work as he suggests, and have
> had a very hard time applying his teachings with
> any success. His answer to students like me seems
> to be "keep grinding" without any guidance on what
> to concentrate on.
> gargoyle miniatures
> I think GW made his $ in the 90's when you could
> throw darts and make $$ because of the tech boom. tojiro knives
> Now I think he makes most of his $ off his
> teaching and Alchem charts. As other have
> wondered, why doesn't he have a class using live
> charts? Is is because he can't? I may be totally
> wrong, but I'm done spending money on GW classes.
> I'm reading books and concentrating on concepts
> that I've heard about in here.


Thank you for sharing your perspective and experiences with trading education. It's understandable that you may find contradictions and challenges in applying certain teachings, especially if there's a shift in the approach or philosophy over time.



Edited 1 time(s). Last edit at 01/10/2024 12:43AM by JamesBasej.
Re: GetMarketSkills
January 07, 2024 02:25AM
Just visiting this forum on a whim. I've been away for quite some time.It also appears this thread is stale, but here are my two cents...

I took 1-5 almost 17 years ago, followed by advanced soon after. As others before me, I did the cheap retakes a few times as well. Eventually made it to RTP circa 2008 and online DE soon after. Some things started making sense just before RTP, confirmed later that year. He basically confirmed what I was already starting to see on my own. I honestly feel like some of the basic RTP stuff should have been included in the original 1-5 if he truly intended to teach how to trade the stock markets. I'm very grateful for what I learned but too much bait and switch: take this course and guess what, I have another course to teach you more.

A few years later, he started teaching the Survial series 1-3. Given previous money spent, I was able to take those relatively cheap as well. Next was RTP retake because he was teaching "new" stuff. The following year another RTP retake for more "new' stuff. As you can tell, I had not learned my lesson so once again, another RTP retake the next year for more "new" stuff (that's 4 RTP courses by now). The final retake year, I also signed up for and participated in the online coaching.

By the time I was done, I had a solid visual picture of what a GW trade looks like, the setup. I also have a notebook filled with more than 200 examples of what a GW trade setup should be & also had a decent understanding of the thought process. The problem is that I had blown so many accounts by then that tI had developed a level of fear that you cannot have in the markets. I would not let my winners run and took profits too soon. I was able to get my losses down to mush: small loss, break even, or small gain. Then my personal and professional life both took a hit, and I had to step away. I could not trade with all that was happening in my life.

That is a lengthy intro to say, do not spend any more money. Learn the basics. The Survial Series was a good solid base. I'm not sure what he teaches now, but Survial Series is what he should have taught back around 2005. It doesn't provide everything. You still have to do work, but it covers one of the first statements I made earlier - where I was starting to "see things" before resuming the classes.

So you want to trade the GW system & not sure what you are doing wrong, GW states that it's all about the indicators. I think he's watched the markets so long that some things just jump out to him internally that he doesnt' know how to communicate. First and foremost, it's not about the indicators. The indicators don't mean squat if you dont' have a trade setup. You can have a thousand indicators all crossing but if it happens in the middle of "dead air" on the charts due to some news event, you might get lucky but have no business trading there. The indicators come are important at key locations on the charts, confirming what you already knew. The following is not based on GW teachings - I learned a lot on my own but it fits nicely into the teachings.

1. Do not underestimate the original class 1. Go back to basics, make sure you understand trendlines, support and resistance. I did not fully understand S/R until I took a course on price action around 2008.It made a huge difference in how I see the charts. Do not underestimate trendlines, support, and resistance. You do not have any reason to to consider a trade in the middle of dead air or in the direction of a stale trend. Every trade should be a pullback into some type of S/R, bouncing on support, coming off resistance, possibly breaking a trendline and/or just breaking the trendline, and backtesting the trendline to confirm.

2,) Back to price, learn ook for previous pivot highs and pivot lows. Get to know the market structure, I would suggest Googling market structure but you might end up going down a rabbit hole with ICT/SM traders. Don't!!! If you understand market structure as it relates to Supply and Demand zones, can read the charts to see current structure, & understand whether you are making higher or lower swing highs/lows, that's all you need.

3.)Once you can identify market structure and swing pivots, you can identify basic Supply and Demand zones, that's all you need.Next, start putting the pieces together, building the case, and getting as much evidence in your favor. Pretend you are a prosecuting or defense attorney. Build your case. You want as much evidence in your favor as possible to present to the judge (your justification for making the trade).

Obviusly I'm looking at some different things other than were taught but a firm believer that a trade starts with price action, not the indicators. Indicators confirm price. Once you have identified a key level that "might" present a trade, you watch to see how price reacts to that level. That's where the indicators come into play.

You want to know what a GW trade looks like. Go back and study SPY on 12/29. Pull up Weekly, Daily, and 233. Look at how all three charts are screaming, "TRADE ME"!!! That's what all of your trades should look like. SPY on 12/.29 is probably A+ trade. Multiple big charts, all coming together, turning over at the same time. At the very least, you want to trade the 233 for as much as you can get. Your infant thought process is that you are trading the 233 in context of the Daily and Weekly. They are turning over and helping to push your trade on the 233. You have a "supported" trade.

Eventually, you reach a point where you see more trades where the Weekly and Daily are trending together, Daily possibly pulled back bit, maybe a little sideways action, but the Daily indicators suggest it's not ready to turn over and still agrees with the prevailing Weekly trend. You look at the 233 that recently turned over in the opposite direction of Weeklky/Daily, 233 has now reached some level of S/R suggesting it could turn back in the direction of the WeeklyDaily. Indicators coming together, getting close, and then HRFP in the direction of Weekly Daily - that's a trade. To be clear, the 233 being a trade is not simply about producing a HRFP. It's not about the cross. Typically the 233 will be around some level of S/R (overlapping BB's with a major MA, an MA or BB overlapping with previous pivot high/low that is now acting as support or resistance). The 233 is supported by the additional supply demand zones, MA,s BB,s,etc, in addition to the fact that it is crossing in the direction of the larger charts.

In 2007, I went back 3 years to look at every major move on the big charts: Weekly, Daily, 233. Not individual charts, I was looking at bigger moves to see how those three charts looked and worked together, just prior to the move and during the move. I started seeing that most major moves had at least two big charts working together, looking similar, both getting ready to turn, both near S/R or upper/lower BB's, and turned together. Typically the smaller chart (233) turns over and the larger Daily has a few indicators supporting the trade. In the 2008 RTP, GW described what a trade looks like. I will never forget his comment. "Stock has gotten low or high, near upper or lower BB's, indicators coming together... getting close... almost there... I can see it coming... I feel it... just about there... almost... here it comes............. you're trade is typically on the next lower chart". For those that understand the definition of a "supported trade" as taught a few years back, my observations from 2007 and GW's comment from 2008 should sound familiar.

Best of luck. Just remember. I have a notebook of over 200 GW-type trades, all discussed in the advanced training. All look very similar to what was described above. Obviously, there is some more advanced thought process, but the basics are all the same. Also, the work he asks students to do helps filter out your watch list. I don't know what he teaches now, but a few years back, I had over 200 stocks on my watch list. I could easily go through that list in less than 20 minutes on the weekend to identify the 5 to 10 stocks that might present a trade in the upcoming week. He increased the watch list so that you have more opportunities to trade. Big charts do not set up as fast as small chart trades. you get good at knowing what to watch. Also watched a YT video of a popular trader that does the same. He always has 200 to 300 in his basket to quickly identify which ones could possibly present his setup in the upcoming week.You ignore the rest. If it doesn't like it can present something similar to SPY on 12/29, then you press the spacebar and move on to the next symbol. Knowing what you are looking for is key.

NCT

P.S - almost forgot. Regarding the SPY 12/29 example, not only do you have 3 big charts showing signs of turning over together, look at the indicators on each chart - beyond the fact that all are starting to turn over at the same time during a time of year that you should expect. Daily has a little divergence. & 233 has divergence on multiple indicators while making relatively equal highs - double top. No chart pattern is perfect but this is another part of the setup. Stocks do not turn on a dime. When you are trading two charts together, the smaller of the two will or should have some type of double top or relatively equal highs, head/shoulders, or at least moving sideways in consolidation while the indicators come together. V tops/bottoms typically don't happen. The double top indicates bulls have run into a brick wall, momentum is fading, and the indicators confirm what you see in price (the entire picture). The retest of the 233 high with divergent indicators, then turning over with Daily and Weekly supporting was the biggest thing that caught my attention.

As for short-chart traders, this can work well on small charts.. Big charts work better. Find you a trade where 233/Hourly seems to be trending, do your magic when the price pulls back to a trendline, overlapping MAs, supply or demand zones (confluence of S/R); indicators on those charts suggest this is a short-term pullback, but the trend will continue. drop down to whatever you trade: 3/5, 5/8, 3/8, 5/8, 8/13, whatever... You need to figure out what works for you and your markets. I would probably go with 5/13 as 1/5/15 combo is very important to most day traders.
Dan
Re: GetMarketSkills
January 08, 2024 11:17AM
Outstanding post! What you said makes sense. One thing I have spent time with that Gary said to ignore is volume; in particular the Wyckoff method. The Wyckoff method helps you understand supply/demand zones quite a bit so you don't get trapped into false moves that are just tests by the "smart" money. Particularly on short charts, what looks like a good move may just be a test and without looking at the volume it is easy to get caught by a "fake" move. I believe this is why significant moves on larger time frame charts are easier to trade.
Re: GetMarketSkills
January 08, 2024 04:17PM
NCT -

I'm a long time lurker of this forum and your post was truly amazing, thank you! I am curious why the close of the 4:00 candle on 12/20 did not scream TRADE ME to you but it was the close of the 1:23 candle on 12/29 that did. Putting 12/29 to the right edge I would have seen the time period of 12/14 to 12/15 as the first pullback attempt with 12/20 as the trigger to trade. Any insight would be terrific! Thank you!
Re: GetMarketSkills
January 20, 2024 10:29AM
Just for the record. I will always have kind words for GW, he offers a lot of solid information at a price that is affordable to most and without this I would not have started this journey that I truly am passionate about; wort's and all. He definitely had an influence in my life, as aggravating as his rhetoric was, it has and continues to be a very positive one.

I took my first class in September 2005; my GW résumé is a carbon copy of NCT per his 1/7/24 post and I just wanted to say that his post is spot on and offers truths and information for others on this journey.

I have been wanting to get this out there but have failed to take the time, until today. Two of the most lacking or maybe none existent subjects that GW failed to teach his students, (things may have changed since may last class) which are necessary for success; the mental game of trading and proper money management; you can have all the tools in the world but without the right mental/emotional disposition you will not be able to execute the craft of trading well. There are several good books to help you become better aware of your own emotional state and also teach you how to develop a better mental awareness for trading successfully. Some of my personal favorites are Trading In The Zone by Mark Douglas, Trading Psychology 2.0 by Brett N. Steenbarger and The Mental Game of Trading by Jared Tendler. The other missing piece of the puzzle is proper money management, this is the key to your financial survival while learning this craft and how to maximize your risk/reward to improve your profits once you become a consistently successful trader going forward. Not only will wise money management skills improve you bottom line it will also improve your emotional skills due to the confidence that correct money/risk management will give you, the end result is that you will execute your trades better. There are several books on this subject but the best one and true authority on this subject IMHO is Van Tharp’s Definitive Guide To Position Sizing Strategies. This one may be harder to find since Mr. Tharp passed away in 2022, but I strongly suggest if you do not understand proper risk/reward using position sizing techniques do some research and apply these principles to you trading system ASAP. How much of your trading account do you, or are you willing to risk on each trade? Does your at risk % change, if so, do you have rules to know when conditions call for a % risk adjustment. How does the amount you are willing to risk (if you actually know) change your average returns over time? Higher risk = Higher Returns and can = Trading Account Destruction if you do not understand and have clear answers to these questions.

As NCT, Darcy and others have said before, find what works for you. Find a system that fits your personality, GW has a good trading system, but it may or may not fit you well; over time you my find other things that fit your personality better, but don’t make changes until you test and confirm the fit, so to speak. That said. I do not trade the GW system, but I have only traded two systems since 2005. Do the work to get a better understanding of the strengths and weaknesses of your current trading system, what is difficult for you may not be for others, find the easy that makes sense to you, test it, prove it, and then trade it with proper risk management. And more importantly do the work to better understand your own weaknesses and how to better manage your risk so that the risk (losses/profits) do not cloud your judgement while in a trade. Know your emotional weakness so that you will know it is actually clouding your judgement in the moment while you can still take corrective actions. The book The Golfer and the Millionaire by Mark Fisher gives a great example of how risk/reward can affect your performance. Wait patiently for the trade, then execute like a Cheetah.

Trade Well and the money will take care of itself,
WIP
Re: GetMarketSkills
February 01, 2024 10:14PM
Dan Wrote:
-------------------------------------------------------
> Outstanding post! What you said makes sense. One
> thing I have spent time with that Gary said to face expression changer
> ignore is volume; in particular the Wyckoff
> method. The Wyckoff method helps you understand
> supply/demand zones quite a bit so you don't get Kobilabs
> trapped into false moves that are just tests by
> the "smart" money. Particularly on short charts,
> what looks like a good move may just be a test and
> without looking at the volume it is easy to get
> caught by a "fake" move. I believe this is why
> significant moves on larger time frame charts are
> easier to trade.

It's great that you've spent time exploring the Wyckoff method



Edited 1 time(s). Last edit at 04/16/2024 03:52AM by JamesBasej.
Re: GetMarketSkills
April 23, 2024 01:26AM
Does anyone here have direct personal knowledge of someone that has done really really well with Gary's stuff?

For example, you have seen their performance stats or you trust them enough to take their word on their performance trading Gary's method

I find it really odd that people (including me sometimes) trust that there is light at the end of the tunnel for Gary's method when Gary himself does not show his performance and the only time I hear about traders getting good results are from Gary's mouth and not the person themselves.
Re: GetMarketSkills
April 27, 2024 02:00PM
TITrader Wrote:
-------------------------------------------------------
> Does anyone here have direct personal knowledge of
> someone that has done really really well with
> Gary's stuff?
>
> For example, you have seen their performance stats
> or you trust them enough to take their word on
> their performance trading Gary's method
>
> I find it really odd that people (including me
> sometimes) trust that there is light at the end of
> the tunnel for Gary's method when Gary himself
> does not show his performance and the only time I
> hear about traders getting good results are from
> Gary's mouth and not the person themselves.

On the Market Skills Facebook page, Gary routinely lists the results of several ES student' trades and the performance is impressive. I know that this too is from Gary himself, but personally I believe he is reporting the truth.
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