Many thanks for your inquiry concerning
HINTS & HELPS FOR DAYTRADERS, a manual I am preparing for active
traders seeking a coherent system of trading, discipline and understanding
of the financial markets.
From the beginning, I have envisioned
the “manual” as an educational project that would develop into a
complete “training” system for effective, profitable and pleasurable
trading. I have thought of this manual as being an ongoing project,
not something finalized in a book that goes on a shelf, but available
in a form that is “alive” in the sense that it would always be developing,
always growing. I conceive of it being responsive to the deepest
needs of traders: to learn about themselves in relation to trading
as well as learning effective trading methods and techniques. Most
traders fail because they do not educate themselves sufficiently.
It is this need I am responding to.
Many of you have asked: “When will
the manual be finished?” In the sense described above, I do not
see it being finished. I intend to devote more and more time to
developing its full potential in providing the active trader with
a truly beneficial and profitable education. Many of you have become
aware of the methods and other teachings I provide and report on
at Undergroundtrader.com. What I have been making available there
is only a small part of what eventually will be available in the
manual. I am continually developing techniques and methods that
will extend and deepen the methods you have come to know so far.
So the manual will become a repository of heretofore unavailable
developments relating to methods such as the Japanese candle patterns,
my “animal” patterns, the three-price break, price projection targets,
time estimation methods and the more advanced techniques relating
to price/time phenomena I am working on.
The “logistics” of this suggest,
of course, not so much a physical book, but a hypertext environment
in which both depth and extent can be developed without the constraints
of the usual physical book. In such an environment, concepts in
the manual would be linked with real-time examples. To learn certain
methods would be facilitated by the capability of linking multiple
examples under changing conditions. There would be the possibility
of responding interactively to “what-if” questions. On-gong lessons
to sharpen one's understanding and ability to apply the methods
would be possible. Interactive application of methods adapting to
real time trading situations would be desirable. And so on. All
this and much more suggests a web-based “manual” is the way to achieve
these ideal conditions.
I believe this is the way to provide
the trader with the greatest value. Quite obviously, much of this
development lies in the future.
So, the relevant question is, when
is it meaningful to provide access to the manual while it still
is in its early form, when all that is or will become possible has
not yet been realized?
I find that most traders want the
“nuts and bolts” of techniques and methods right away. The
trader wants to “do it” first and understand it later. This is understandable
and not entirely without merit. I have decided to provide access
to an early version of the manual that would satisfy the needs of
the trader sufficiently to learn the methods and techniques in their
basic form and to make use of them effectively in trading on a day
trading and/or position trading basis.
The manual project itself is envisioned
to be in four parts. The first part, Practical Methods for the
Day Trader, will be the place to describe and illustrate all
the methods and techniques.
The emphasis here will be on practical
methods and techniques you as a trader can start using right away.
The second part, Theories of Price Potential Targets and Time
Expectation Points, as the name suggests, will be a detailed analysis of the "reasons"
the methods outlined in part one work. Part three, Psychological
Dynamics of Markets and Traders, will be an in-depth consideration
of all the psychological factors involved in trading. Particular
emphasis will be focused on how to identify personal problems that
interfere with successful trading and what to do about them. Part
four, Esoterics of Number and Time, will present for the
first time a depth psychological ("Jungian") approach
to the archetypal nature of number and time and how this is reflected
in human behavior and most particularly in the financial markets.
What is available now is the initial
version of part one. This is available in a file format that you
will access and download and which you may print out. I want to
emphasize that this initial version of the manual is not complete
and is not intended to be. It will contain all that is necessary
for learning to use of the methods in their basic form. This is
necessary in any event before more advanced use of the methods and
techniques will be meaningful or possible. I will be updating this
version of the manual regularly.
It is my strong feeling that anyone
willing to support this project in its early and incompletely realized
form, deserves special consideration. Before making this project
available more widely, I will limit its availability. In effect,
you would be “subscribing” to Part I of the manual and receiving
periodic additions to it as they are completed.
If this is of interest to you, I
invite you to subscribe at this early time at a cost of $225.00.
Subscribers will receive the following benefits: (1) all updates
to Part I of the manual free of charge; (2) free email support for
questions concerning the methods and their application in trading;
(3) a 50% discount on Parts II-IV of the manual and access to these
parts of the manual in "early" forms before they are generally
available; (4) a 50% discount on the subscription fee to the hypertext
version of the manual when launched; and (5) either free or reduced-fee
access to other items of interest being developed and services I
provide (details on request), e.g., Ralomatic@Three-pricebreak software.
This investment in your education
as a professional trader represents an opportunity that will easily
repay itself many times over. There is nothing else available that
will match what I envision for this manual as I continue to develop
I want to make my work available
to others in a readily available form at a reasonable cost. I will
be devoting more time to this project and progress will proceed
apace. I am looking forward to it. I hope you will too!
As always, I will be happy to answer
any questions you may have.
Best wishes and good trading!
Russ Lockhart (ral)