Hey TDTB,

I couldn't agree with you more! Fundamentals are pretty useless for the average trader and for me news events have always been something to simply be aware of only... to read them properly would require a few PhD's anyway.

The thing is; without technical signals any news would not be actionable anyway, but technical signals without news would be... and so by default you don't really need to understand how Fundamentals work, just that they do impact and move the markets, even if it's not in the way your logic might tell you (That's why you need the PhD's).

In my opinion; technical analysis using pure price action techniques is a way to read how everyone is reacting to the news and allow you to simply join in. An evidence based trading approach basically where you do not guess but will still get faked out every now and then anyway, that's just part of the job. If you read the signs correctly then you can achieve a high win rate, but it's also important not to forget that you can still be successful with a 40% win rate if your trades employ a 1:2 risk:reward strategy. So when you get into only the technical side of trading there are a few components and you don't even have to master all of them... but it is wise to do so since there are no PhD's required for any of them.

Happy Trading,

Theo

The markets don't have much to do with the 5% success rate TDTB... The human mind does! What most traders do not want to admit is that it is their fault as to why they fail. I give a daily review of the market to my VIP members almost everyday for a few years now, the more I do this the more I am able to cement my understanding of how structured the market actually is. There really only is chaos about 20% of the time and even this chaos is visible and can be avoided, but if you did get caught up in it you can still survive on the other 80%. Those percentages are not scientific btw but you get what I am trying to say

The truth of the matter is; if you don't learn as much as you can about price action based technical analysis and trade management you have little chance, but that is only the foundation. It is a solid foundation but the journey doesn't end there. That is why 95% of those who attempt trading may succeed on a demo account and fail when they go live. In fact; even after all these years I still make stupid psychological mistakes every now and then. I am even willing to bet that every single trader on the planet has had trouble with their emotions and trading, it is those who blame the markets or their method who fail, it is those who recognize the personal problem and take action that succeed, combined with that solid method / plan of course

All this lingo is simply marketing... "I know the secret that the big boys don't want you to know, I have the secret code, Forex is simple, Forex is easy,I have a magic indicator and etc." ..  if the only interest is to sell as many of a product as possible then this would be the standard way to go about it right? I think it's very normal in this World of distractions that we live in. You certainly won't find any of that lingo here even though we do have some seriously powerful tools that we have developed. All I could ever say is that Forex CAN be simple but I have no secret code for the human condition other than daily repetition and support. This will throw most people off because they want the effortless way out ... but that's definitely not my problem!

Theo

I agree to disagree then...

people think they are paying for an easy solution, that's the whole idea and you see it in the marketing lingo.

It's much easier to pay thousands of dollars than sit down and learn something like this properly!

I don't think you quite understand the concept of evidence based trading. It only matters what the next EUR/USD trade is going to be based on the evidence provided... Location, Entry Trigger, Management... There have already been 3 profitable trades on the EUR/USD today that followed these guidelines. I fail to see the point to look any further past the next trade because then you really are guessing/gambling. And until a Location is established, retested and an entry trigger starts to present itself there is nothing to worry yourself with anyway.

Touchdowntampa said
Hello Theo, I first want to thank you for the help up until these early stages. Most of my questions are not being answered because it would involve revealing some of your paid for course. I feel at this point you can not do much more to help me. As you know I can't afford to pay you at this time. I am surely serious about trading for a living and will continue my journey. I wish you well and hope God richly Blesses you and your family with great health and prosperity. If however there is anything more you can do I will appreciate it. God Bless you Sir TDTB

You are welcome TDTB, I will continue to respond to whatever I can but with regards to not revealing much of my paid course; I am not so much bothered about the revealing anything part, it's more about the fact that I spent alot of time creating the course and videos are better than text. If I were to explain WavEFX here then I would be typing for weeks and defeating the purpose of how I have structured everything in a step by step process. 

This Free part of the Forum was intended to discuss the Free eBook mainly, the v1 Forums are there to discuss trading the v1 style and it's tools, show examples and ask questions that arose from watching the videos. The VIP Forums are then in turn for the VIP members.

This all has everything to do with me spending my computer seat time wisely.. and of course directing most of that time to my VIP members. I'm sure you can appreciate this....

and regardless after scanning back through this thread I see that ALL of your questions have been answered anyway