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[wozdan]

Who is Joe Ross?

I've read some rules of trading that he formulated. Very insightful and true, some of them. But I really was surprised by some. I've started this thread to hear your opinions on the ones I do not agree with. Here they are:

"7. Trading systems that work in an up market may not work in a down market"

Maybe for stocks, but forex??

"8. There are at least three types of markets: up trending, range bound, and down. Have different trading strategies for each"

How the hell should I know what kind of a market there will be? If i did I would be a billionaire just from trading options wouldn't I? I think the strategy must be universal.

"18. The first and last tick are the most expensive. Get in late and out early."

Can't agree. I suppose that "late" here means when you get confirmation. Yet usually once you get the confirmation the move is nearly over...

Any opinions?

[bbjit]

Originally Posted by wozdan

Who is Joe Ross?

I've read some rules of trading that he formulated. Very insightful and true, some of them. But I really was surprised by some. I've started this thread to hear your opinions on the ones I do not agree with. Here they are:

"7. Trading systems that work in an up market may not work in a down market"

Maybe for stocks, but forex??

"8. There are at least three types of markets: up trending, range bound, and down. Have different trading strategies for each"

How the hell should I know what kind of a market there will be? If i did I would be a billionaire just from trading options wouldn't I? I think the strategy must be universal.

"18. The first and last tick are the most expensive. Get in late and out early."

Can't agree. I suppose that "late" here means when you get confirmation. Yet usually once you get the confirmation the move is nearly over...

Any opinions?

Wozdan ask a guy called surebet he knows who Joe Ross is...

[Maji]

Originally Posted by wozdan

Who is Joe Ross?

Joe Ross is a vendor peddling "trading education".

[Truville]

Joe Ross gives advice that sounds good, but is so general it can apply to any situation.

Joe likes to say things like, “Know yourself before you trade”. Which is great advice, but really, it’s great advice before you do anything. Know yourself before you get married. Heck, I bet you could change his advice to marriage counseling without any real modification! Let’s try it.

Here is his latest post here:
Statistics and society may predict, but you alone determine whether you will succeed or fail. You alone are in control. You alone must take responsibility for your performance and your life(You alone must take responsibility for your marriage). There are always tremendous opportunities in the markets (There are always tremendous opportunities in a marriage). It is not what happens; it is what you do with what happens that makes the difference between profit and loss(makes the difference between staying together or divorce) -- between success and failure as a trader.(between success and failure as a partner)

Yep, it works! Joe missed his calling, I think.

[psytrader]

Originally Posted by Truville

Joe Ross gives advice that sounds good, but is so general it can apply to any situation.

Joe likes to say things like, “Know yourself before you trade”. Which is great advice, but really, it’s great advice before you do anything. Know yourself before you get married. Heck, I bet you could change his advice to marriage counseling without any real modification! Let’s try it.

Here is his latest post here:
Statistics and society may predict, but you alone determine whether you will succeed or fail. You alone are in control. You alone must take responsibility for your performance and your life(You alone must take responsibility for your marriage). There are always tremendous opportunities in the markets (There are always tremendous opportunities in a marriage). It is not what happens; it is what you do with what happens that makes the difference between profit and loss(makes the difference between staying together or divorce) -- between success and failure as a trader.(between success and failure as a partner)

Yep, it works! Joe missed his calling, I think.

Right on Truville,

I only know one person making money in marriage counseling. He's a lawyer.
LOL and after 6 years of school, I get offered 18k per annum for an 80 hour a week gig.

Good for Joe. Wish Id have thought of it first.

[crabbydog]

Originally Posted by wozdan

Who is Joe Ross?

I've read some rules of trading that he formulated. Very insightful and true, some of them. But I really was surprised by some. I've started this thread to hear your opinions on the ones I do not agree with. Here they are:

"7. Trading systems that work in an up market may not work in a down market"

Maybe for stocks, but forex??

"8. There are at least three types of markets: up trending, range bound, and down. Have different trading strategies for each"

How the hell should I know what kind of a market there will be? If i did I would be a billionaire just from trading options wouldn't I? I think the strategy must be universal.

"18. The first and last tick are the most expensive. Get in late and out early."

Can't agree. I suppose that "late" here means when you get confirmation. Yet usually once you get the confirmation the move is nearly over...

Any opinions?

On the last one, almost all trend following methods and systems expect some form of confirmation, and its accepted that in general you wont consistently get more than 1/3 to 1/2 of a trend move.

As tp Joe himself, he claims to be a trader but there have been some who deny he is a successful trader. I don't know one way or the other, but his methods seem sound enough, or at least have possibilities. His methods are much more specifc than the quotes suggest (eg his 123, ross hook, traders trick and ledges methods).

[Deserwest]

"his 123, ross hook"


That says it all right there. Bait, hook, reel in. Gone Fishing.