[sebbb]

I attended the webinar after having read the book last weekend. Here's my "trip report"

I didn't learn anything that I didn't read in his book (Japanese Candlestick Charting Techniques). However, in the book you have to read all the examples to pick up some of the information, so it was good that he insisted on some points.

A lot of it was just explaining what candles were and the main patterns.

Some of the points he mentioned that I remember:

- candles + western methods+ money management= the nuts

- don't forget to look at the trend before a candle signal (i.e. a bearish signal such as a bearish engulfing pattern after a downtrend should be ignored)

- always look at risk vs reward. Just because you see a bullish signal doesn't mean it's worth it, especially if you have to buy way above the support.

- he gave a few trading principles, I think one was " don't make a trade when you know numbers are coming, cos you dont know which way it's gonna go"


I think the only particularity of forex trading was that period n's close= period n+1's opening, so engulfing patterns are not engulfing on both sides.


That's all I remember for now. I took some notes, so maybe I'll see something new when I look at them tonight.


Oh, and of course the guy was doing it for free, so he had something to sell obviously, ie DVD's

His marketing technique was:
1) insist on the importance of learning/ talk about a big secret he will reveal at the end
2) Show examples where candles can save you 1000's
3) Show random testimonies where people say now they are trading with confidence
4) show a first slide with the DVD's selling at $950, then talk about something else
5) finally show the special offer, $480, only 12 left, buy before noon tomorrow.

I'm a bit allergic/immune to those techniques, so I felt it affected a bit his credibility, but whatever.