nyctrader posted this here:
http://www.mypivots.com/board/topic/7333/1/es-thursday-3-29-12#99014

Originally posted by nyctrader

After recently watching a vendor calling out ES trades (pretty accurately) based on some mysterious calculations, I decided to seek out some info without paying the $3000 - 4000 fee he was asking for. I found it right here on this thread. Thanks to Bruce, Paul, Monkey Meat and all other participants for this great series of posts. I'll be putting in some study hours in the next week or two.

This isn't the first time we've heard this and many have said that vendors come here and get their systems from here.

Do you think we should sub-title this site: MyPivots - Where vendors get their systems from.

(That is said with tongue in cheek of course.)

If those vendors understood the systems that they take from here and traded them they wouldn't have to be vendors... Is that a fair comment?

I'm all-in on that DT. It would provide a forum with information that would be useful to all and help folks by saving them from fee-for-training (or info) gigs where that info is here in spades. Anyone who has followed the topics/threads on mypivots for more than a month or few will recognize this. Just a Monkey's thoughts.

Just getting a system is not enough. Getting the psychology behind a trade is more important. Stop losses will be hit; sometimes more than one can imagine. No system is perfect. Market can do anything. How does one handle it..............? Run to the vendor........Help!!! Help!!!

Most traders use a variety of indicators to assist them when they enter and exit trades. Indicators like Stochastic and MACD are talked about frequently when traders get together. I hear it all the time -it's typical to hear someone explain why they use a certain indicator and they usually describe one or two times the indicator made them money. But as all worthy traders know: one or even a few times an indicator is successful will not carry you through a lifetime of successful trading. You never hear the draw down stories or the bust outs - never.

No system works in all markets well - none, period, end of story. No system can accomodate bull markets, bear markets and consolidating markets at the same time since they all react and act differently. You need many tools in your trader toolbox. The systems and tools that are simplistic and not complicated tend to work best over time. Additionally, the hottest trending software and systems are the last thing you want to put money into or follow. Use a trading journal, review it over the weekends and after sometime and introspection you will be on your way to trading for a living successfully.

I look forward to reading the forums here in the hopes of gaining great knowledge from everyone. As a new member but a long time trader I am always curious as to the tools others use.

Trading is a matter of statistically stacking the odds in your favor, for that in and of itself is the path to profits, a.k.a. your edge.

Recently in one of the forum posts I read about the misfortune of a trader who had blown his account. I feel sorry for him/her and emphasize the importance of Stop Loss at least in a 1:1 ratio. Also keeping track of one’s trades with regard to entry price is important. Sometimes the price that broke your S.L will return the money on the way back and vice versa for a profitable trade. If you are new the Fx market is an excellent place to learn as one can trade with as little as 1 unit. Demo accounts are good for learning the platform and getting the feel. Real money teaches you discipline. As you grow in experience Futures could be the next step. This is only my opinion and some traders may differ from it.