The NickB Method 2010
English | DVDRip | AVI/XviD, ~427 kb/s | 480×272 | Duration: 02:20:49 | MP3, 160 kb/s (2 ch) | + PDF Guides | 2.16 GB
In the world of Forex trading most traders are continuously searching for the holy grail of systems that will make them a millionaire in a week. Like the search for the Fountain of Youth that system has never been found. Here is a hint why; IT DOESN’T EXIST!
Searching through forums like a crazy person looking for the magic combination of indicators is the short road to failure. If you are reading this e-Book looking for a system to make you an instant millionaire then hit that little red ‘X’ right now. If you are reading this eBook looking for a method of trading that will make you a successful, consistently profitable trader then keep reading. Trading is not a get rich quick scheme; it takes hard work and dedication.
My method is not a system, I do not use any indicators, and there are hardly any set-in-stone rules. My method is based on candle patterns and support and resistance lines. These are not to be confused with pivot points or Fibonacci lines. The best thing about my trading method is you are not tied down to one specific style. You can implement certain aspects of it, and add others, to tailor make your own trading style.
I know that not using indicators sounds crazy, but I have been doing it for 4 years and I am still around. It is up to you to make the choice. Are you going to embark on the futile search for the Holy Grail trading system? Or are you going to learn how to really trade?
Keeping it Simple
The foundation of my method is to keep things simple. I am against over complicating trading. In my opinion, the simpler your method is, the more effective you will be. Making something extremely complicated is only going to waste time and add stress. That is why I try to keep my trading as simple as possible. Over complicating something that works very well is counterproductive. All I need are a few lines on my chart and I can make 100+ pips per week with ease.
Some methods you see are just a mess of indicators; so many that you can barely see the candles. This is not the way to trade. If you can be consistently profitable keeping it simple, with just a few lines, then that is obviously the better option. So as you read on, and find out that my method is just a few simple lines, do not run away. These simple lines have been making me a lot of money consistently for 4 years. That is more than can be said for 99% of the trading methods out there. Simplicity is a good thing, not a bad thing.
Another foundation of my method is adaptability.
A system is limited in that it gives you a very constrained method of trading. You have rules that are set in stone, and they do not change when the market changes. Thus, a system works amazingly well some months during the year, and fails miserably other months.
I do not have a system. I have a method based on the analysis of candle patterns and support and resistance lines. The most important thing about my method is that it adapts to changing markets. A huge part of my trading is analyzing current market conditions and trading accordingly. This may sound hard, but when you learn the basics it becomes second nature. One look at your charts and you will know that you need to tweak the way you traded last week to suit the market this week.
Candles are perfect because in any market condition they still perform the same task, they show you price action. Support and resistance lines are basically just showing us where the price action is stalling and where the market is shifting direction.
Anyway, what I am getting at is that I do not have a system. I can’t simply say, “You put lines here and enter on crosses”, or, “You target 100 pips every time.”
I do not have a system that can be summed up in a few paragraphs. The method gathers together a hundred different aspects to form an extremely effective and adaptable style of trading. It is something that will take you time to learn.
Scouring forums for Holy Grail systems is not your answer. Like I said, systems are limited to the market conditions that spawned them. Systems do not adapt to changing market conditions. There is a tool however that allows traders to adapt to changing market conditions.
Can anybody guess what it is? It is your brain!
Those new to Forex trading, who have spent time on multiple forex websites, expect me to have some kind of generic, crappy, enter-when-this-crosses-that system. The reason they expect that is because that is usually what is offered. This is not what I am offering you. I expect you to be an active participant in trading; using your mind, and making good trading decisions.
My system involves the use of your brain (every trader has one), and that is why after 4 years, my method is still profitable.
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