“Trading chaos”: B. Williams’s contribution and the reasons why millions of traders all over the world lose their deposits when they work according to the techniques of this author.
The book “Trading Chaos” by B. Williams is the classical edition that deals with giving the technical analysis to Forex. It is of a great interest not only to me but also to millions of B. Williams’s admirers all over the world. From the viewpoint of mine as a trader, this book is so popular because B. Williams tried to do the following:
1. To present Forex chaotic market as a system, making use of the chaos theory.
2. To depict his vision of logic of the structural components motion in this chaos: a) the strategy (Elliot’s wave theory); b) the tactics (the fractal analysis; the use of fractals and the so-called “key factor” – i.e., financial and economic instruments.
3. To submit 5 levels of the professional training of every trader. Each of these levels is clearly described and specified – as well as the corresponding goals and the instruments that traders must be capable of using at each of these levels.
In particular, the following chapters of the book in question are dedicated to the problems enumerated below:
Chapter 6. The first level – a trader- novice.
Chapter 7. The second level – an advanced beginner.
Chapter 9. The third level – a competent trader.
Chapter 11. The fourth level – a skilful (trading) trader.
Chapter 12. The fifth level – a trader -expert.
4. Besides, B. Williams enumerates 5 “bullets” that can “kill” any trend -i.e., its reversal points (points of reference). Starting from such points, one can develop new strategy and tactics of the work within the trend.
5. B. Williams also recommends making a business plan. In this “control list”, one must clearly specify “the working rhythm”, the signals from “the big finger” concerning the deal opening, “stop-loss” levels, cushion pads (suspension pillows), etc.
6. As a professional psychotherapist and trader, B. Williams submits practical recommendations to the beginners and skillful (competent) traders – see Chapters 11 and 12 from “Trading Chaos
Forex Secrets – Developing the "Anti-Chaos" Trading Strategy and Tactics at Forex Market (Part I)
Posted by admin on April 20th, 2010
Posted in Articles 
Tags: Admirers, B Williams, Bullets, Chaos Theory, Chapter 11, Chapter 9, Cushion Pads, Economic Instruments, Fractal Analysis, Fractals, Making A Business Plan, New Strategy, Novice, Professional Training, S Wave, Stop Loss, Strategy And Tactics, trading strategy, Viewpoint, Wave Theory