Mar 26 2008
Do I have the 4 T system available for download
David asked if I had the system available for download. At this moment I do not, however I plan on putting it up in the forum in the members section of A Traders Universe very soon.
I also thought this would be a great time to demonstrate something regarding the purchase of trading system’s as ebooks.
When I do eventually put the 4 T’s system on my forum, it will only take one post and will be quite short. This is because in reality, it is a mechanical system requiring no discretion on the traders part. Adding things to the system becomes the job of the trader and is a personal thing. So with that said, it really is just a simple set of rules….and here’s my point
I’ve seen so many systems (e-books) being sold that in general are 90-100% mechanical yet are 50, 100, 200 pages long. Why? If a system is mechanical it should only take a few pages to describe it, a few to show examples and that is it. A mechanical system does not need 100’s of examples because the rules are set in stone.
The problem is these systems being sold as ebooks are placing other material into the ebook either to fluff it up (so you think you’ve got your money worth), or are genuine, but poorly titled. For example, if you sell an e-book titled ‘how to trade profitably’ then the book may have a system or two in it, but it will also cover the aspects that make a trading system profitable, i.e. risk management, money management, goals and objectives, risk and emotional analysis, and the list goes on. A trading system and its set of rules have absolutely nothing to do with creating a trading business, because the system itself has no idea who you are.
There is one ebook that comes to mind where the author has titled the ebook appropriately, and that is Bird Watching in Lion Country - Retail Forex Trading Explained - Here is a long ebook but an exceptional example of someone who has gone out of his way to explain how to trade the forex market profitably placing more emphasis on you as a trader and how you interact with the forex market itself and the brokers you deal with. If you don’t know where you are in relation to this, no trading system and set of rules will help you.
He does offer you his trading system, and it’s not even 100% mechanical, yet he keeps it short and to the point as he should.
Another example is my friend Brian Dibbins who has taken several trading systems from a trader here in Australia and created an ebook titled ‘Learn How To Trade Profitably’, and once again, it is not just based on 3 trading systems and their rules, becasue if it was, he should call it something more suitable such as ‘the 3 XXXX systems for trading the markets’ or something along those lines.
So I just thought it important to emphasize that one should know what they are buying or are expecting when purchasing anything related to the markets and whether you need anything that deals with your personal side of trading.
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[...] Derek wrote an interesting post today onHere’s a quick excerpt David asked if I had the system available for download. At this moment I do not, however I plan on putting it up in the forum in the members section of A Traders Universe very soon. I also thought this would be a great time to demonstrate something regarding the purchase of trading systems as ebooks. When I do eventually put the 4 T’s system on my forum, it will only take one post and will be quite short. This is because in reality, it is a mechanical system requiring no discretion on the tra [...]
[...] Forex Market Updates wrote an interesting post today onHere’s a quick excerpt David asked if I had the system available for download. At this moment I do not, however I plan on putting it up in the forum in the members section of A Traders Universe very soon. I also thought this would be a great time to demonstrate something regarding the purchase of trading systems as ebooks. When I do eventually put the 4 T’s system on my forum, it will only take one post and will be quite short. This is because in reality, it is a mechanical system requiring no discretion on the tra [...]