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[DrForex]

Originally posted by fxwiz
http://www.fxstreet.com/chat/transcripts/20050120chatsession.asp

Thanks in advance.

Excellent - he must have read BWILC

[DrForex]

Originally posted by fulcrum
Any idea who Dirk uses as his trading firm?

Fulcrum

I introduce to the companies mentioned by William and I trade personally at FX Solutions, Saxobank and Man Financial.

May I also thank those with kind words, especially William - you really make me sound almost too good to be true. In any case, I will not correct you as it is quite an apt description (not very strict intra week) - in fact I think I will use it in future myself somewhere.

The Merc is getting pretty old - you guys better start doing much more, much higher geared trades because I want to upgrade to a SLR

[email]

Hey Dirk, what color is that Merc anyway, the color of a mans car tell allot about him, LOL. By the way most people do not know what a Merc is.....Mercedes-Benz, for those that dont know.

[firedave]

Originally posted by email - By the way most people do not know what a Merc is.....Mercedes-Benz, for those that dont know.

Yes, I'm one of them until I read your post LOL

Hi Dirk, going to your site, but somehow can't find any information regarding your mentoring service. Any clue about it ?

[DrForex]

Originally posted by email
Hey Dirk, what color is that Merc anyway, the color of a mans car tell allot about him, LOL. By the way most people do not know what a Merc is.....Mercedes-Benz, for those that dont know.

Firewagon red.

[DrForex]

Originally posted by firedave



Hi Dirk, going to your site, but somehow can't find any information regarding your mentoring service. Any clue about it ?

http://www.dayforex.com/df_home.asp?...extraining.htm

The link on the left "Forex Training"

If one registers and shows interest in mentoring we send a PDF.

And I respond to emails regarding that.

Regards

Dirk

[fulcrum]

If I sign up for mentoring do you prefer I open an account with one of your brokers? I am in the US. Thanks.

[DrForex]

Fulcrum


I think direct personal "advice" of a business nature may fall outside the scope of the MTC forum's regulator's wishes. Someone (in another thread) kindly pointed out my abuse of the forum rules by posting my URL as part of my (old) signature.

This lead me to study the rules and I must tell you, I am S-C-A-R-E-D to death that I may be branded as a rebel and non-conformist and regulatory vandal.

In order to get that answer which could have been a short "yes" (or "no") you will have to contact me via the email displayed under my "profile", or read between the lines (of this paragraph).

[markb]

Being a total novice in the forex world, finding and reading Dirk's ebook Bird Watching in Lion Country was a revelation for me. There are many good opinions and options on how to trade. Dirk has written an ebook that gives you a realistic view of FX. His approach is "fundamentally" sound. I feel that my $50.00 investment(in the ebook) is a great start to my trading business. I have since contacted Dirk to sign up for the mentoring that is being offered. Thanks Dirk

markb~rookie

[milo]

Is this still offered at no cost? Clicked on the link
posted earlier and it said that page not available.

[forex777]

Is Mr. De Tiot primarily fundemental analysis trader??

[DrForex]

Originally posted by milo
Is this still offered at no cost? Clicked on the link
posted earlier and it said that page not available.

Yes.

[URL=http://www.dayforex.com/df_home.asp?boxlist=bwilcFREE.htm[/URL]

[DrForex]

Originally posted by forex777
Is Mr. De Tiot primarily fundemental analysis trader??

I call my analysis technique "relational analysis" or "real time analysis".

It is about relating Price (and price changes); Time (the time it take the price to change and the time of considering any price); and Events (any factors that may influence prices in the time frame I look at the market).

In other words, what most people call fundamental analysis (i.e. the fundametals behind price changes) is a important aspect of what I incorporate in trade decisionmaking.

However, I think of myself as a technical trader because i use technical parameters of recent and historical price changes and technical price levels to make trading decisions (in conjunction with the above).

Most indicators only serve to confuse the issues. In a clean price chart there is too much in formation to use sensibly. The moment you add all sorts of inidcator lines etc you just add to the confusion / overload of information.

You should not add to information I believe, but distill the USEFUL information and work with that. Fundamental type, information, or what I call market dynamics are VERY VERY useful to filter out the overload contained in price charts suffering under the load of subjective technical indicators off all sorts.

Although this is a historical case, all my clients reading this (and who received free Daily Briefings upon buying BWILC) this week got this lesson in market dynamics and real-time analysis:

Tuesday 25/01/2005 GMT 07:00

:drforex > gbp will be under pressure with tomorrow's GDP and BOE minutes out quite early
:drforex > and I am still prepared to think the BOE minutes will provide some upside
:drforex > atleast because any negative sentiment will be fully priced in, and there also is the possibility that they actually weren't as negative as the market discounted it to and fro on the data releases in a thin December market

:drforex > eur 1.3040; gbp 1.8775; jpy 103.00; gold 427; oil 48.60 (the prices at time of Briefing)

Wednesday 26/01/2005 GMT 07:00

:drforex > REVIEW (this is the main aspect PLANNED the previous day)
:drforex > :drforex > gbp will be under pressure with tomorrow's GDP and BOE minutes out quite early
:drforex > gbp, what ? about 150, 200 down at low?

:drforex > PLAN: (This is what i consider for the day)
:drforex > maybe a punt long gbp before the BOE minutes release ?
:drforex > if we are right we bank 100 - 150 and it will pull eur upto 1.3040, 50
:drforex > if wrong, downside wont be too bad as it was obviously factored in yesterday

:drforex > ok, eur 1.2970; jpy 103.60; gbp 1.8670

The GBP subsequently rocketed up just after 09:30 GMT - the time of the GDP and BOE data releases - to almost 1.8900, and anyone that took the "punt" (like I did) made money. In the headline noise it was said afterwards to be the result of GDP which wasn't too bad, but I think the main factor was the BOE Minutes which indicated that the market was too negative on continuous high interest rates in UK. And because that was the flavour of they day on the GBP (and still is) this was not too hard to figure out.

But you have to know what to look for, what to consider and then relate it all to recent price changes and possible future price ranges. (ranges not changes)

So it had nothing to do with technical analysis although some indicators may have shown GBP to have been a bit oversold. Adding the market dynamics, you can pinpoint the timing (timing is a much overrated concept) and make easy money

What you should ask yourself:

If the pro's make money (which they apparently do, although not as much as the amateurs ) and only 25% of professionals base their decisionmaking mainly on technical analysis, why will you, an amateur, base ALL your desicionmaking ONLY on SOME beginner technical analysis, and discard 75% of the analysis the pros use.

Don't you think it makes sense to incorporate all useful information and learn to think and analyse like a professional institution with technical, fundamental, quantative and whatever other analysts on the payroll (including risk) you can think off in your decisionmaking?

I think it does, and i have dedicated almost all my time to improve reading the market based on these other types of analysis after i have quickly decided that about the only useful technical analysis that does indeed condense / distill information is medium term, to short-medium term support and resistance levels.

A lot of money floats around between those support and resistance levels. I try to scoop up some of it from time to time.

[forex777]

Mr. De Toit,

Thank you for your response to my question. I sincerely respect you for posting a significant answer that outlines your thought process.

You are obviously successful and generate revenue for yourself and those that you mentor.

I would like to share with you that there is more than one road to Rome, as they say.

I have seen purely trechnical traders make consideral profits based on learning the indicators and fruitating understandings based on these indicators. When X+R,S,H=24 buy at X and sell at Z. If one can intelligently appply characteristics that work on a mathematically statistical basis, an almost robotic, again I say ALMOST robotic, process of successful trading can be accomplished.

With appropriate money managment and discipline to maintain the paradigm, you only have to have 4 successful trades out of 10 to continuosly generate significant revenue, money management will take care of the rest. And of course, many of us are successful MUCH more than 4 trades out of 10 working from a technical forum.

Again, I thank you for being open and honest with your ideas and opinions. I would bet that they are taken seriously and respected in this forum. At least I can say that they are by me.

In this reply I don't at all mean to try to say Fundamental is better than technical of techincal better than fundamental, etc..

I wish to state that if you, Mr. De Toit can be very successful with your method that is your own, and I can be very successful with my method that is my own that is totally different, than truly... trading is an art.

Our paint brushes may sleek accorss the canvas in a completely different manner, but if, in the end, we can both end up with a masterpiece, then this is truly an art. As is everything in life....

Technical analsysis, Fundemental analysis. In the end it all merges into one. They are just different indications of reading between the lines. Some of us will gravitate towords one or the other, or both to some extents, based on the color of our own lenses. How we see the world and how we react to it on a personal level will have total effect on which methods we resonate with.

Thank you for your fine contributions to this forum, Mr De Toit. They are a breath of fresh air in a sometimes stale environment.

Good Day...

[TraderPierre]

Dear DrForex

Please could you answer the question in this post please, it may affect how much credence is given to your posts.

Thanks

Pierre