(See beginning of this article under name online forex trading system . Forex Literature As A 90-95% Of The Traders Loose Their Deposit. (Part I)
B. Williams quotes 5 bullets killing a trend, whereas I exemplify their insufficiency and I add up 11 more thereto, not denying the above 5 of them.
B. Williams idealizes the Elliott wave theory, whereas I show that the combination of fives and threes is none the idealizable, otherwise a mankind 100-year development project could have long been elaborated on the basis of Elliott waves pattern, leading to exasperation at the fact that humanity progress does not follow Elliott and Williams. The other thing is that nowadays brokers have mastered the job of manufacturing more waves out of the 5 initially.
The aforesaid is applicable to each of the 20 problems of Forex.
A portion of my live Forex trading methods are to be found in this book, while the other portion thereof is forwarded upon request. Those eager to continue training under my supervision as well as to trade live, please, feel free to contact me on my e-mail address below.
It all could be funny unless it were sad. But IT IS sad, because the above examples are scaring in number. Bearing it in mind, do, go again through excerpts from distinguished scholars books:
– Awesome Oscillator (AO) serves us keys from the Wonderland;
– Accelerator Oscillator (AC) gives us with significant superiority over other traders;
– using AO is similar to reading tomorrow’s “Wall Street Journal”, while using AC is reading of the day-after-tomorrow’s issue thereof;
– by using AO solely, one may attain profits even without any knowledge of current rate; should the oscillator turn down, one may merely ring one’s broker and say: “Sell at the market price!”.
As You have guessed, these are extracts from B. Williams’s “New aspects of Exchange Trade”. Have You read the thing? And now, please, give a glance to the a foregoing figure, depicting the way, the vaunted Williams’s indicators may entail an abyss of losses.
But what truly makes my blood boil is as follows. B. Williams is a professional psycho therapist and his narrative style is none of an incidental one. This is a suggestive method by virtue whereof he attempts to demonstrate the exclusive, correct and faultless nature of his trading technique. The “faultlessness” is to be discussed in an individual chapter, and my only claim here is that I can easily draw hundreds of examples, where one can bump into loss by way of following Williams’s indicators.
By myself, I am an advocate of theory of chaos. But this theory is disclosed by Williams in a very primitive and a superficial manner, which fact results in his blind follower losses. As to the author, he resorts to propaganda methods instead of providing a clearcut distinction between the cases, where the above theory is 100% effective and those, where it is not.
Williams could have explained to his admirers directly, that in these certain instances the theory is to be relied upon, while in these instances it is not to. The difference is in this, this and this. In the former instances one should necessarily enter, whereas in the latter instances one should abstain from entry. But the guy haven’t done the job (due to either not being desirous or to not having sufficient knowledge).