191 Comments (page 2)

Hey Kyle, Thanks for sharing your story, insights, and method. I love reading articles that reinforce positive trading habits. Keeps me honest and builds those effective neural pathways. :) I am mostly a stock trader. Have you or anyone you know applied this technique to stocks and, if so, how did it fare? Also, I am deeply into meditation and personal development. I even keep a blog devoted to my twin interests in trading and meditation. I call it No Trader. If you are interested, you can find it here: http://www.jakeyeager.com Thanks again Kyle! Take care, Jake

Jake, I just checked your site out, awesome stuff! The technique isn't quite as effective for stocks because there isn't an equivalent of the COT reports for them. Just skimmed your site, it's cool to see you doing so much right. If you end up experimenting with the stuff here let me know how it goes. Godspeed :)

Great post! I sent an email to you Kyle as well! Would like to talk more and network. I own a successful ad agency and have since I was 27 - I am 33 now. I live in Tampa, too! I have always been interested in trading but never took the time to truly learn the business. If you would oblige me, let us chat some! You have my email I just submitted and I emailed my phone number as part of that, too.

Thank you Kyle for this great blog post! It's funny how as I read about what NOT to do...that's exactly how I started my trading journey, by doing all the wrong things and lost money doing it Haha! It's been just over a year and now I am starting to have consistent profits(with losses in there also. About 60% success rate). Working on discipline, cutting losses short, trading the naked chart so i don't succumb to analysis paralysis, and trying to stay out of the market as much as possible, until a high probable setup appears. Thank you again and keep up the great inspiring work!

Hi Kyle, thanks for all of this.... But I just dont understand No. 2.... "Keep in mind we want these patterns at a multiyear high or low." ok.. "Preferably with a gap." That I dont get....how can you have several patterns on a multi year high or low? Isnt the "high" or "low" one moment in time? How could you have more than one pattern at one time? (I hope this question doesnt make you think I'm a total idiot....but sorry, I dont get it...) "That means, for the corn chart above, we would want the price to open below where it’s current." Why? And to do what? To buy short positions on corn? Never felt that stupid.....sorry.....but I had to ask...

Hi Kyle !! Thank you for the great post. Just wondering what are your views about those forex softwares available on the internet like Joseph Nemeth's (www.4x-dat.com)

Excellent article. As I am starting trading with futures I am still scratching my head any time I hold a contract that is about to expire. As liquidity normally demands that you hold the front-running contract in most markets I was wondering if I could find any article regarding what to consider when you need to roll future contracts. (i.e. when to do it and what risks are involved). (I am looking at all markets, i.e. commodities, indices and currencies) Many thanks!

@Deep, Sorry to hear that you got burned by the forex company. When was that happen? now a days many are financially regulated, and being monitored (as they say, and as we can see)... Who was the broker company? if you like to share that info, that would be very useful for all of us... Thanks

What do you call a trader with a $500 account, who likes to bet the farm ?

Hi kyle. I just need to know your opinion on this, How much leverage is too much?

Hi kyle. Luck brought me here. Awesome, enlightening article. I've been trading spot markets but Never had a good record. This article could help. I just need to know your opinion on this, How much leverage is too much?

That is a very personal thing. I would measure it more by what you're willing to risk per trade than how much leverage is too much.

After some time trading, whether you're successful or not, the next step is to read this article. Seriously, that's what I will advise my trading comrades. Or whoever I came across. Reading your article is similar to reading Alexander Elder's book. It begs to rewire my system and myself. Thank you, Kyle!

That's high praise, Nolan. Thanks! And Godspeed :)

Cool article. I'm getting back in the game but I'm leaning more towards spot FX with a decent ECN broker. I've been working on a scalping strategy that has been running well the last few months in a demo account. I've worked hard to get the emotional side of things out of the way and I feel that is best done via good money management. I feel that your friends 2m account blew up due more ot mismanagement and greed than anything else. I appreciate your no nonsense approach and it reiterates the need for solid mechanical trading rules. I'm only going to trade two different entry setups based on my system, with a set T/P and SL so that greed and fear will not rule the day.

Hi Kyle, Thanks for the great post. Also impressed with your responsiveness to all these interesting viewpoints. I was wondering if you have any examples of trades you've made? I'm particularly interested in picking the COT move and what a "large movement toward zero" looks like? I've been burnt by gradients that absolutely look like movement to long only to bounce, usually with force. Also your insights on exit strategies for someone with only 1 contract at a time would be really helpful (assuming not stopped out, but what to look for that things are headed south). Again, thanks for the clear no BS article, the hardest thing to find in this game. Sean

Wow, you are so smart Kyle!! If I was only half as smart as you, I'd be so happy...

I've had some past experience as a trader. The most valuable information you can have at your disposal is the COT report. I've read several books on trading, and I have the book you recommended in the post. You hit the nail on the head. I think it's amazing that somebody would write this information without charging serious money. I've been victim of $40 webinars that were absolute junk. Good job sir!

Glad you enjoyed it Kevin! I'm a big fan of books :)

Hey... What resources did you use to learn about this. I would really like to know. Great article by the way!

Everything! I linked to some of them in the article, but there were a ton. Maybe this is the best place to start: http://stockcharts.com/school/

Great article Kyle! I am excited to apply this and really gain a solid understanding. Mostly been trading options so hopefully these points can also be a good application to that. Maybe ETF options? Looking forward to any new stuff you put out. All the best!

Fantastic article,Kyle,Thanks :)

Since the market is random and cannot be predicted why bother with methods from the stone age like analyzing shit. I started making large amounts of money on the stock market only after I finally understood the old wisdom: forget the fundamentals. Because they don't work. If they did, everybody who ever studied them would be rich by now. From what I recollect that's not the case. The current price of anything has nothing to do with any past performance. The best prediction for tomorrow's price is simply today's price.

I'd be interested to hear about your strategy Damien

kyle, very honest article! to me it seems that this whole daytrading game is a big risk, but having a strategy to mitigate this risk is more important than making money. I think if someone with proper preparation executes 10 trades per day with appropriate stop losses, even if they were wrong on 4-6 trades, their losses will be minimal and if the other winning trades went their way, they will make money! I personally have had more luck with position trading. Any comments on that?

If you buy a commodity share at 40 dollars a share and it goes below 40 dollars what exactly does that mean? You lost everything and you buy the difference to stay in? I am just lost on how it works.

Interesting read. I do agree. I am interested in how you set up your fund? Much like your comment on systematic approach I avoid all emotion when it comes to trading. You have you system and follow a process like any business would. I would note that there is extreme power in compounding which everyone should be take advantage of. It's a marathon not a sprint.

when was this blog/ post posted?

During your trading what broker would you recommend to trust.?? Any feedback is greatly appreciated Michael

Im 14 yrs old so I have lots of time to study the patterns,day trading and the stock market in genera.wish me luck peeps!(good luck to everyone as well.) Kyle is Chill.

and also I recommend everyone to read ``a beginner's guide to trading online`` ,novice or experienced trader

Great read. I started to trade a couple of weeks ago, on a simulator. I had started investing about one year ago, but it just wasn't getting me where I wanted. I trade only using supply and demand price action.

I am a day trader and could really relate to this column, so much so that i have signed up for the webinar, as i am sure i will learn something new. I agree strongly with the following points a) if you can't make money with a dummy account there is no point trading for real b) Trading with real money is not the same as trading with demo money, the whole dynamic changes. c) You should start small and build up d) You have to be able to take the hits. Last week i lost 7 bets on the spin, the week before i could do no wrong. e) It is incredibly hard to stick to a system. This is a contact sport, we all like landing a big punch, but can you take one right on the end of the button?

Well, help? Should I get out or stay in. Losing without stops on the Italy 40 that I shorted, only to have to top up twice with monies because of leverage. Now the instrument has gone right up and I'm still in waiting for it to come down. Oops! Real money is not much fun. Hubby would go mad? What shoul I do? It's only £500 after all

you're an idiot. they make money when you lose money

Just learn to b disciplined n take ur losses quickly rather than waiting to go in ur side, it seems u trade emotionally.. Take ur time to get a grip in the market before jumping in straight away.

Interesting post Kyle! I love how you can describe it , definitly a good read and worth consideration.

i am an African i spent $9400 trading , though made profit but i could not withdraw because of bonus policy then i employed a friend to help me from Spain to withdraw my money he did but only sent me half of all my deposit it was a hacking means , please is there any help so i can get back the remaining money from the hacker who sent me half and and took the other part , i have his email ( [redacted] ) though i was able to get part of my money

how do i email you and how do i find a bullet proof system?

I don't consider myself a Day Trader, perhaps I may say that I am an Automated Trader, because I use an EA or Robot to Find opportunities and Trade it for me. But being Fully Automated doesn't mean high profitability or assurance that all Trades are profitable because as we know the Market is a Beast and very unpredictable. I've been trading for a year now and in the beginning I am losing money as I am still trying myself real hard if Trading is for me. I prefer the FOREX market because it is moving 24 Hours 5 Days a week and I don't have to burn a lot of time just to analyze price actions. Although Full Automation works for me, I still don't recommend it because if it worked for me, it might not work for other people. For the last 4 months since December 2016, I have earned everything I spent when I started trading, and looking forward that I will have more profitable Trades over my losses. Because even if the Robot does all the effort for me, I am still there to monitor how the Robot works and I am ready to switch it OFF if necessary to cut my losses. Robots don't have emotions and doesn't care about your Equity, it will just Trade as it was being programmed to do. As of this moment, I am not wealthy yet but I do believe there is a potential for me to become one soon. That is why I continue to Trade and Learn how to manage automated trading until I will sum up all the best procedure to make the right Trading Formula that makes me even more profitable. Even if I am using Robots to Trade, I could still say that I am a Full Time Trader because I don't work anymore. Forex Trading is now my business and this is where I get my earnings to support my family.

As expected, nothing but a sales pitch.

I have 5million US dollars that I would want to put into a lucrative business or invest it with a profitable company and share the profits with the Entrepreneur. If you are interested, contact me via [redacted]

I genuinely enjoy looking at on this site, it contains good articles. "And all the winds go sighing, For sweet things dying." by Christina Georgina Rossetti.

How is it a sales pitch? What is he selling? Lol

Good info. Thanks for all the warnings about pitfalls of Forex.

You're selling something - would like to see it disclosed.

What robots do you use?

Talking of good strategies , I believe its no longer news that Mr Bailey's has the best strategy today, with more than 200 students making $10,000+ weekly . My life has never been better . This is my 3rd week and you have no idea how rich I am and how my wife and kids are all happy right now. kindly contact him for help for real men who loves doing business via baileyaart1199 at google mail

Kye do you know any broker that can give you startup funds for trading if you want to start but no funding please

I've had a rough go. I'd love to learn how to trade. Read your article...alot of good information. I wished I could just give you my money and close my eyes and hope you make some kind of magic when my eyes open.

Good, solid advice. I've been trading oil futures for several years and your post is spot on. Very helpful. Thanks for taking the time. Sticking to a basic plan that works and not getting emotional is a must. Irrational exuberance over "wins" or depression over losses will only lose you money.

Hi thanks for a well thought trading rules to go by! I've been trading stocks and now more into options and have doubled my money in 4 months. Like you said, having a set of rules are important and sticking to them until the end. It is harder to do because we're emotionally driven all the time. Keep the fire going. Thanks for your time!

Hello, great honest article, and your absolutely correct about putting the time in. I'm thankful to be single with no kids. I had to disconnect my phone and stay off of social media just so I can put 8 to 10 hours a day studying..I wanted to ask you if you ever applied a similar method for Forex Trading? Thank You

What about algos administered by the market maker of your broker's affiliate company that trade against your trades. No mention of that here or how to avoid them. Probably because there is not and that is why none of you ended up making money in the end.

YLAN, are you day trading options or intermediate swing or longer term options or hedging them?

Very solid article! I use the COT reports quite often, and it is a helpful tool. Sadly, not a lot of traders take it seriously. It is understandable, not a lot of traders are long-term speculators; everybody loves to day-trade, and for them it is useless. Again, Kudos on the article.

I recently recovered my initial investment from a scam broker. I had to resort to unconventional means to make this happen. I am open to share my experience. Feel free to reach out

i suffered so much from this and lost over 200k so far and still now learning on my own and have not made a penny back rather i still lose i feel it si door close to even regain what i have lost and i have 4 kids and old is becoming my middle name any suggestion

Do you think those techniques could be adapted to cryptocurrencies or that crypto is too volatile? Most coins don't have multiyear charts because they haven't been here for that long. What is your stance on that matter?

can i apply the same method on currency trading?...and which time charts is more suitable for this methods....

This month, I have made over $43,000 trading forex/crpto currency investment with Mr Tyree Ford amazing strategy while trading, I know as a trader you are wondering how possible this is. Well, contact him as well to enjoy this amazing opportunity: tyreeford005 @ g m a i l . c o m

Very helpful thank you.

Very comprehensive and useful write-up. Thanks

Day trading is like anything else, you need to learn and understand your craft very well. 10,000 hours are needed to be efficient in your craft. For anyone that is interested in trading look into the Wyckoff Method. It works in all time frames from day trading to long term investing. I have been using this method for a long time and make money every day. Look into these educators The Stockmarket Institute, David Weis, Gavin Holmes or Gary Dayton. There are a few others but these are the best in the Wyckoff Method. All the best to everyone!! Pro Trader

I day trade 2 chart patterns, Macd bullish and bearish divergences. I only trade one contract and never add to my positions. I make around $80,000 dollars a year. Nice sideline income. I'm totally convinced that trading is 90% mental and only 10% in how one picks trades. Trade small to keep emotions under control and get out of losing trades fast!

holy crap now I see why the guys from forexfastlane.com recommended every new trader to read this post. It's seriously refreshing to see ACTUAL INSIGHTS that are completely objective, just trying to share the info. I can't wait until I know what I'm doing! Following their trading fundamentals right now and then I'll be paper trading... and then.. profit????

Hi Kyle, Your narrative is right on! No more daytrading for me, I just don't have the discipline to handle the psychological side and absorb losses and fight another day. Too nerve-wracking for me! Thanks!

Hi Kyle - good read. Found myself wondering if knowing what you know now, you could go back to being that 15 year kid making $5,000 during class, what would you do differently (if anything)? Aside from get long $SPX, $AAPL, $AMZN etc! :)

I agree with this article as i have being a victim of these fake brokers. I invested about $590K MAGNUM option and all could do in my first withdrawal was $59k. Then my money started going down the drain till i was left with only the bonus they said i couldn't withdraw until i fund my account again. The trend continued and i lost everything.Not one dollar was left. I almost died knowing i was scammed. I was very determined to get my money back so i had to hire a wealth recovery expert (adler.frank50 AT Gmail com) who recovered 80% of my money including my bonuses to me. The moral of this story is for everyone to be very vigilant about the kind of broker you invest with and if you have lost some money don't give up the quest to get your money back.

I am too old to get into day trading, it's just a pipe dream for me. The conversations you had with yourself were funny and alarmingly familiar. This article was really interesting, thanks! And in the comments I have learned so much about wealth recovery ;-)

Tom, That is good, Could you share how much you risk per trade and are you focusing on currencies or commodities? If so which one? Or just whenever your Macd crosses? Thanks Sam

That is why trading on the CME is much better than Forex platforms, those guys are definitely crooks.

i using a strategy called "hedgestrategy1" still works good after 2 month. i can make from 2 to 25 max% per month. i don't like the indicators, i prefer the hedging.

Just curious how is the paper trading coming along? I'm going to use the recommended TD Ameritrade. Is that the one you are using?

I'm an options trader that started out with a small account 2 months ago, sticking with strategies that are best suited for weekly and monthly options (no LEAPs). What is working for me is not committing any more than 10% of my available cash to any one single trade at a time. I'm not getting super rich (I'm making an average of $500/mo profit), but I am succeeding at managing risk. And that's the most important part.

Commodities and some forex. I just get in when the MACD lines cross. As far as risk per trade i don't use a fixed dollar amount. I place my stops based on the chart, the last swing low if long and the last swing high if short. I trade gold, silver, platinum, tbonds, crude oil, s&p emini, us dollar, Canadian dollar, the pound. Check out "trading forex with divergence" by jim brown on amazon, his books are only 10 bucks and he gives the trading systems he uses. He also has good videos on utube. Highly recommended!

Thank you for taking the time to write this. Your post was very helpful. Keep up the good work, the internet needs more people like you. May your tribe increase and your children be blessed! :)

can you send a link to hedgestrategy1? Thanks,

Hi Mike, I do trade crypto with similar method. I tend to trade BTC and the inverse for MACD cross, and keep an eye on RSI and other factors. Tradingview provides charts for free for crypto for all time periods I believe. Great community on there as well.

trading on your own with your own capital is one of the hardest things I've ever done....and still doing (not sure for how much longer). I traded commodities for a big company with a very attractive bonus plan. I was making 400-600k/year for 4-5 years in a row plus capital appreciation in the company stock I owned. by 30 yrs old I had well over 1mn in cash, house paid off, zero debt. decided to quite my job and start day trading. 2.5 years into day trading has been the biggest mistake of my career. it's been a shit ton of trial and error and I feel like I continue to make progress but after almost 3 years and can't make a goddamn 150k to me is a failure.!! maybe i'm just an idiot but day trading equity markets is fucking tough!!! i'm still going thought b/c for some reason I feel like I can make this happen. but to newbies out there....be careful.;...and if you do plan and trying day trading for a living i'd suggest to have AT LEAST 2 years of living expenses saved up.....it's gonna take time for you to figure it out.!

Dude! U described me! That’s me right now. I’ve been trading for about a yr. I do love trading

god, the accuracy in the article is insane, great job! day trading is by far the hardest thing ive ever tried to do. luckily i was also young when i started so i didnt have a whole lot to lose outside of the money in my trading account

Hello! Love the post. However, I do have some questions if that is OK. Here goes: First of, do you belive CMC Markets is legit? Or are they manipulating their market so i will lose money? Here are some other questions i thought of: - How can the tradingsystem be applied more widely? (What sort of modifications?) Does it work with index and forex, maybe stocks? - Only future contracts or cash aswell? - How many years is a OK multi year low, for instance gold. Its at the highest its been since april.2013. But it was at a higher price between april.2011 until april.2013? - What kind of reversal patters do you use to exit a trade? - How does it look when the producers make a significant move in the direction of our potential trade? - What thing were omitted for the sake of simplicity? - What other books were you planing on recomanding? Thank you very much! Best regards, Oskar Tobiassen

Your never too old to start trading tony. Also I would recommend swing trading over day trading. Just week to week. Every Sunday look at the charts on Sunday. Pre place an order or two and set it and forget it. Come back next week to see if you won or lost. Limit your risk to reward to 3:1 and risk losing no more than 1% of your total account size.

This was a great read lol 11 at night after closing trades before the weekend. You know it's funny how people believe they can just put money down click buy or sell and make it big. Or the bullshit I hear often is what goes up must come down... I trade full time and I spend many hours doing analysis actually taking the trade is easy...One has to be committed and like you said you have to be drawn to this. I mainly trade currencies and at most I can 1870 pips but you have to have optimal markets conditions the proper patterns etc and even with all that you're never guaranteed a good week at all the week after that I did 521 pips, Haha, But being consistent is key. One thing newbies struggle with is this fact that trading ain't no spring it's a long-ass marathon.

there is no way to recover 590k!! Most scammers are in offshore so you have no way to get it back!!

That was the most real talk I have heard anywhere!! Thanks for forcing my thoughts back into reality. It was much needed and truly appreciated.

Wow! What a great article. Thank you! I’ve learn a lot. I’m by far a newbie to this

I'm one of those newbie traders, I made and lost 200k in 6 months, my biggest mistakes were over trading and not putting a stop loss i.e not following my rules...excellent article imo...trading is definitely a psychological game you must master your emotions!

Hi Kyle! I know nothing about trading, but enjoyed reading this so much. Very entertaining article, Kyle! You're a natural writer! <3