Fellow members of the Forum:

A few weeks ago,I bought a book that improved my trading results,and helped me in building a new base of trading knowledge as to push me into asking the writer to allow me to explain several of his trade tactics.

A BOOK...Is ole good Simba crazy?(of course I am..that is what gives flavour to Life)..Well,I actually buy like 2 books or ebooks per week,most of them I discard after a speedreading of 10 minutes convince me that they are not worth the paper they are printed in(specially the ebooks )..but a few of them have either several actual "modifiable" trading strategies or give me a few ideas to test,so,I keep buying and extracting the few items of wisdom I can find there.

Seldom,like in the case of JMHURST book and courses,or Dancing with Lions by Trader x..I find a book worth rereading....well I have found a pure jewell..and I want to share it,so,I asked both the author and Newdigital,and both say ok,go ahead.

What´s in it for you?:

1-You will learn a few "pure price action patterns" that work..for free,all posted here...and we will test and discard the ones that don`t.
2-I will explain,show past examples,forward test..and livetrade a few of the setups,the ones I have chosen to share,based on my trading style,so that you can check their accuracy..or not
3-I will be the first to point out when,IMHO,a setup is not worth the risk for the reward...in Forex.
4-You will be able to decide if you want to buy the book and use all patterns or not,Not all of them are suitable for my style of trading,but they could be for you...In any case I will post,forward test and trade enough patterns for you to make an informed decision.

What´s in it for the author?:

1-The author is a professional trader,very well known,that decided to self publish a book.and consequently..he expects,though he doesn`t requests,some additional sales.(I checked with ND and asked him to allow me posting in the non commercial section,since you are not required to pay anything,if you like what you see,you can buy or not the book)...and some publicity...though he doesn`t need much since even a Market Wizard(Michael Steinhardt)supports him,his book,and his methods.

2-The author has very positive reviews,we will come later ,in the next post,about them,his trading is mainly done at indexes(SP,ES,NQ..),Stocks or Futures..he was mildly intrigued,though not surprised, when I told him his patterns worked for Forex,we exchanged several emails,and he allowed me to forwardtest and reveal ,at this forum, some of his book patterns in the Forex markets,he is intrigued,and ,since he is a very open minded guy..just gave the go ahead.

What`s in it for me?:

Just 3 things,but before I post them,I have to say that I bought and paid for the book,I have no association with the author,nor do I benefit economically if he sells 1mm books or not,I like his teachings,his patterns,and his emails..if you like the patterns and buy his book,perfect,if not..I won`t be too preoccupied.

1-I learn by teaching,,yes,reread it..any poster with a few threads on their backs here will confirm,when you lead a thread you end up knowing much more about the thread´s subject than when you started it..opening a thread about price patterns will require me to get an almost perfect mastery of the patterns..then see point 3 .

2-I like to teach,it must be obvious by just reading my threads..I believe that by sharing you get more.

3-I believe I have got a handle about digital filters,and that if I can get a handle about chart patterns,I can combine both and improve my trading to the next level..to get this second handle,I need to explain the patterns,to teach them,because this will require me to learn and adapt them.

And that is all folks..next post will tell you about the guy,the book and his reviews...Then I will start with the patterns.

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Somos mortales hasta el primer beso..y la segunda copa de vino

looking forward to it...

cl

Sounds great!!

I'm ready!

Always great to have a willing teacher - I will be reviewing this thread regularly.

Simba - will you be incorporating what you learned on digital filters as well? I am not a programmer and the discussion on digital filters (last time I checked....) was a bit over my head. Still, I am always willing to learn if results pan out from specific uses of those indicators.

Thanks,

simon

Always interested in what good ole Simba has to say:-)
Will be watching this with interest. In the meantime will buy the book as well.

The guy is Suri Duddella,full-time trader for the past 12 years....The book is "Trade Chart Patterns Like the Pros"...and the reviews..ahh,the reviews..

Michael Steinhardt : "Don`t read this book-make money with it...it does not overwhelms you with mathematical statistics and technical jargon...Instead,Suri´s "trader-sense" perspective helps you identify a pattern and apply the relevant techniques to enter,manage and exit the trade...What I can promise you is that Suri´s practical approach will give you insights that will make it harder to lose"

Joshua Silverman :"There is a famous basketball court in New York City called Rucker Park.Legend has it that the amateurs who played there were so good,they could take on the pros.If there were a Rucker Park for trading,Suri Duddella would hold court there...He is consistent and disciplined,but what sets Suri apart is his ability to find and exploit regular market patterns.Traders at that level rarely let readers have more than a peek behind the curtain,this book shares Suri`s techniques in detail".

Coming from these 2 heavyweights,the book started to intrigue me and this started the process that lead to this thread being started...If you want to check more reviews and additional info you can check,among otheres ,the following link:

suriNotes.com, suriNotes, Stock Research, Futures Trading, Emini Trading, Tradestation, Indicators

Next post ,I will start with the patterns,past applications-both successes and failures-my comments on them,and when pertinent ,some forward demo or live trading of the pattern.

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Somos mortales hasta el primer beso..y la segunda copa de vino

Thank you very much for the info. I looked through the contents and it really has all the info(and more) that I am interested in. I ordered the book, but it will take probably a week to get it.
Anyways, it will be interesting to see how we can apply those to FX.

Thanks Simba for your information ...most profitable system is pattern recognition like Suri did ..I think one of his indicator is ZUP ...

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Forex Indicators Collection

Well 8 posts deleted due to the usual visitor escaped from a mental ward..additionally,the guy,el cid aka oilyfxpro,has been banned for 1 week from the forum due to other faults at other threads..ok,let´s hope this situation doesn`t arise again,though I have to congratulate the administrators for their quick clearance action

I will try to summarize,due to that guy pointing out that my simbasystem contest version had very bad results at the past mt4 EA contest,I replied to him that this was a matter to be posted at simbasystem thread,NOT HERE...and for those of you wondering why I don`t care about contest results,I would just say here that a contest version of a system,by necessity,must be hyperoptimized and overleveraged if it wants to end up in the first 3 positions of a 3 months contest with multiple participants,so it is either cash or crash(usually crash)...If anybody wants to pursue this issue ,please do so at the appropiate thread.

Then I explained to him,and posted several results that had led me to think that there was an opportunity in using either chart patterns or chart patterns in combination with digital filters,support,resistance,etc,etc...these are the results that led me to think so..and I believe that they are indeed relevant to this thread..next post I will start by the Dragon pattern..

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Somos mortales hasta el primer beso..y la segunda copa de vino

1-mpower and prasxz:Thanks for your kind comments and for your kind words,hope that you can be interested enough in the patterns to contribute your usual trading wisdom.

PATTERN: DRAGON

What constitutes a Dragon?..check pic,a Dragon is basically defined by 1,2,3,4...very similar to a w bottom or to a double bottom with different trading rules and targets

Rules for a Dragon:

1-head

2-first leg

3-hump

4-second leg

A-SECOND LEG..34 can be anything between 0.618 to 1.27 of first leg 23..THOUGH IT IS BETTER IF THERE IS NO MORE THAN 10% DIFFERENCE between the legs
B-HUMP height 23 MUST be 0.38 to 0.5 of distance from head to first leg 12

So,first thing we do when we think we have a Dragon is to draw fib retracements for 12 and see if 23 is between 38% and 50% of 12..and then we check that 34 is between 0.618 and 1.27 of 23...once we have a Dragon we go to our rulebook(next post) to check how to trade it

Attached Images

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Somos mortales hasta el primer beso..y la segunda copa de vino