In context: the truth, sadly, is that most business people regard inflation as a friend - a lesson I learned some 40 years ago.
Back then as a mere teen I couldn’t understand why anyone would embrace inflation, now I understand his point.
I have just recently purchased stock for selling over the next 6 months or so. That is a risk, sentiment could diminish, sales may not be as good as anticipated, it could take me longer than 6 months to sell the stock.
The risk can be reduced dramatically if prices are increasing, I know then that my stock value is appreciating, I have an edge on the competition, I can sell cheaper than they can.
Deflation, on the other hand, ensures that there is no way that I’ll take that risk, I will not invest in stock more than my immediate needs.
Lack of investment…enemy of business, enemy of all.
Could I add, one of the mechanisms for counteracting deflation is a lower currency value, many CB’s will use this in their armoury, the market too will react accordingly.
Currently the UK has no difficulty with deflation, Japan has such a difficulty - so view the daily GBP/JPY.
I understand this rational, and a deflationary environment would cause your stock to be sold for less than previously desired.
This does come, though, with lower staff costs, lower rent cost, lower stock costs, lower bills for things like power/water/internet, and if sensibly managed you will carry far less stock - lowering a cost there.
You will also have lower costs for your personal life; including petrol, food, and other living expenses.
Many parts of the world of business are deflationary - esp in the tech sectors and I don’t see anyone complaining about that, but there are many complaints about the inflation of food and fuel prices…
All true - especially re stock levels - it is this aspect of deflation that causes it to be regarded as the bogey man by policy makers.
Deflation has curbed the Japanese economy for years - they are making an all out attempt to create inflation and it seems succeeding, this from BBC this weekend:
Yeah, there’s a wisdom within those words - they all imply one thing, an element of planning, preparation and precision.
It is extremely difficult to obtain such precision with a market entry at this time of year, a greater chance with a limit set at a specific point - weekly pp (6350) former Ny and AS level (6345) and Inst order level (6350) … and that 70.5 fib of course
Rules of the game - keep your risk low … ORE… optimal risk entry
I sent him a new years tweet earlier reminding him of all the things he promised in 2013…he replied asking me to unfollow him and kiss his ass, then deleted me from his followers list. Apparently still has trouble with public criticism.
[QUOTE=“CDHarry;583895”]I sent him a new years tweet earlier reminding him of all the things he promised in 2013…he replied asking me to unfollow him and kiss his ass, then deleted me from his followers list. Apparently still has trouble with public criticism.[/QUOTE]
Possibly you should have thanked him for all of the things he did deliver in 2013. I’m not saying he owns or invented any of the concepts, but he must have made between 25-40 videos, wrote articles etc, while trading and having a life in 2013. He is a stranger on the internet, who devotes a lot of effort to educating people, when many of them are fairly rude in return. I’m amazed he still tries.
Yeh… Rehashing material that others have presented many time before sure is valuable. We should also thank him for the entertainment he provided by publicly losing $1,700 on a $2,500 account in about a month and a half. I will always appreciate that show Michael.
He’s an attention seeker of the highest order. He proved that by his actions immediately following that sock puppeting incident soon after joining the forum.
He threw a little paddy after being rumbled (& publicly embarrassed) by the moderators for attempting to deceive members, threatening to pack up his toys & disappear.
Didn’t last long though did it, lol.
That’s what attention seekers do. His gigantic ego wouldn’t allow him to walk away from such a tempting spotlight performance.
Trouble was his offerings were no more effective than anything else being offered by a handful of other participants on here. In fact there were/are others peddling similar material packing far slicker presentation skills with less complexity.
[QUOTE=“dancat;583963”] Why would you be amazed? He’s an attention seeker of the highest order. He proved that by his actions immediately following that sock puppeting incident soon after joining the forum. He threw a little paddy after being rumbled (& publicly embarrassed) by the moderators for attempting to deceive members, threatening to pack up his toys & disappear. Didn’t last long though did it, lol. That’s what attention seekers do. His gigantic ego wouldn’t allow him to walk away from such a tempting spotlight performance. Trouble was his offerings were no more effective than anything else being offered by a handful of other participants on here. In fact there were/are others peddling similar material packing far slicker presentation skills with less complexity. He is a lot of a fuss over nothing[/QUOTE]
People use Ake as one of the examples of someone who followed ICT for a long time and lost money doing it. He’s a fairly young fellow, and I beleive that he eventually started piecing things together with his trading. He was very adement in his defenses of ICT, and when things started to change for the better (this was a year ago) he wrote some things that got him banned and it became a rough situation. Another way to look at his story, is to see it as someone who refused to quit over a period of years.
Posting Ake’s words above is meant to be an incredibly one sided view of things and is very misleading. There are certain crtiques of ICT that I think are fair things to say. However, the argument gets so one sided, that I think it’s only reasonable to point out that there are other was to see things.
I become increasingly convinced that because we are all different and learn things differently, it takes different things to bring out the inner trader that we all hope lives inside of us. Speaking for myself, I do not believe that if all trading knowledge were wiped from my brain, and then I was locked in a room with only ICT’s videos, that I would have better odds of succeeding then if I were given numerous learning tools including ICT’s videos and an array of other material. However, I feel very comfortable sitting down to perform technical analysis, and for me that started with the ICT stuff. I appreciate what ICT has done, and I do believe that he is who he claims to be. I am totally open to the possibility that I could be wrong about anything / everything, but until that is proven, I will try to be a voice that makes the conversation slightly more balanced. All that said, it’s been a year now, and the conversation is getting a little old.
Name atleast 1 or 2 out of 100s of ICT loyal followers who makes money atleast 5% a month consistently for the pass 12 months or maybe years by using ICT teaching/tools? Only worth following someone teaching if the “followers” and ICT himself makes money…
Isn’t it a waste of energy and time following someone if non of his followers making any dime? I think this thread will go on for a long time until ICT shows that he can actually trade and make money and that his followers do make money as well… He started to put on a good show/ entertainment on here so why not take it to the next level and really " show" that he can trade…then and only then the discussion will die down… Otherwise, he will just as good as making videos and making promises who cannot keep…
Hey P&R, nice to hear from you. I don’t stay in touch with ICT’s other students that much, so I really can’t say with certainty. Names like Jonnycab, PurplePatch, Sladha, Calrke would be guesses at best. I know that Chris Lorie uses similar tools to ICT, though he’s not a student. ICT’s teaching is not a specific methodology or system, but he teaches the use of tools that are widely accepted as valuable. I’ve never checked out Sam Seiden’s trading record, but I do like supply and demand zones as he teaches them, which Jason Stapleton sort of calls structure. I’ve never checked into Chris Capre’s trading record, but I did buy his price action course, and I do utilize candlesticks and patterns he teaches in my analysis. I think Murphy’s textbook, Trading in the Zone, Carney’s book on Harmonics as well as Pesavento’s are very helpful as well. I have the Elder and Dalton books, but find them a little dry, and another Pivot book that I think is great. There is a fellow named Shane Daly who made some interesting videos on Supply and Demand, and a some other folks on Youtube as well. ICT used to teach the ‘power of three’ and ‘market maker’ patterns, which are basic Dow theory. I like Boris Schlosberg’s book, and Kathy Liens which references methods that are similar to ICT’s.
There really is no debating the sentance: ‘Many of the tools that ICT teaches, are widely used by successful traders.’ They are certainly not the only technical tools out there. I will never be able to trade exactly like ICT, because I am not ICT. It’s not about who should we follow, as if we’re joining a religion, picking a favorite sports team or getting married. Different things will teach different people. My whole point with ICT has been that the tools he teaches are valuable for some people to learn, and that it takes some degree of kindness to make the effort to teach others as ICT does. I have prepared and delivered PowerPoint training to large groups of people a few times, and it really is tedious to prepare, re-read, edit and practice presentations. I just think some appreciation is in order.
Maybe people are right that ICT gets a feeling of power from all the attention, and being regarded as a leader. I think that’s human nature though. I guess this thread is getting a little played out to say the least. I hope all is going well with you P&R, and that your trading is flourishing. I am planning to go full time begining this July.
