About me

<body topmargin=0 leftmargin=0 marginheight=0 marginwidth=0> <table cellpadding=0 cellspacing=0 border=0><tr> <td valign="top" colspan=2 height=90 BGCOLOR="#006699" TEXT="#080000" background="10a085a3.jpg"> <div> <FONT SIZE="5" COLOR="#FFFFFF" FACE="Arial" ><B>   Wave Trader</B></FONT><B>    </B><B> |     </B><A HREF="index.htm" TARGET="_top" TITLE=" Wave Trader"><U><B>home</B></U></A></div> <div> <A HREF="id45.htm" TARGET="_top" TITLE="Contact Us"><U>Contact Us</U></A>   |   <B>About me</B>   |   <A HREF="id58.htm" TARGET="_top" TITLE="Support"><U>Support</U></A>   |   <A HREF="id56.htm" TARGET="_top" TITLE="Recent Letters"><U>Recent Letters</U></A>   |   <A HREF="id69.htm" TARGET="_top" TITLE="Beginners Advice"><U>Beginners Advice</U></A>   |   <A HREF="id86.htm" TARGET="_top" TITLE="WaveTrader Conditions of Supply"><U>WaveTrader Conditions of Supply</U></A>   |   <A HREF="id46.htm" TARGET="_top" TITLE="Disclaimer"><U>Disclaimer</U></A></div> <div> </div> </td> </tr><tr> <td valign="top" width=210 BGCOLOR="#FFFFFF" TEXT="#080000" background="10bd2e83.jpg"> <div> <B>My story:</B></div> <div> <B>I was actively involved in the futures and stock market as a trader for in excess of  25 years.</B></div> <bR> <div> <B>The things I learnt by practical experience and studying technical analysis methods would have you exhausted.</B></div> <bR> <div> <B>Most things I thought had merit I tested for long periods of time to see the outcomes.</B></div> <bR> <div> <B>I published several books along the way, but as I went on I realised I was on the wrong track.</B></div> <bR> <div> <B>The objective of trading is not to prove which way the planets move and can  relate to a trend change  or how the ELLIOTT WAVE complexities pan out or how Gann's teaching of time and price squared helps you get an edge. </B></div> <div> <B>All these things are few and far between.</B></div> <bR> <div> <B>The go is simply to make money as quickly as you can.</B></div> <bR> <div> <B>I realised this back in 1994 after the market in S&P broke all the rules of the experts of forecasting including mine.</B></div> <bR> <div> <B>My focus was then changed to methods to make money  and keep things simple.</B></div> <div> <B>I was lucky I made money before I realised this and now I have made a lot more and been able to retire.</B></div> <bR> <div> <B>I was gifted to meet a number of people along the way that added value to what I was on about.</B></div> <bR> <div> <B>Yigit Balligil has made an enormous difference in my life as he had the ability to put things together the way I wanted in</B><A HREF="id107.htm" TARGET="_top" TITLE="WaveTrader XABCDs"><U><B> a</B></U></A><B> computer program that anyone could use.</B></div> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> </td> <td valign="top" height=390 BGCOLOR="#FFFFFF" TEXT="#080000"> <div> <I>About me</I></div> <DIV ALIGN="LEFT"></DIV> <div> <I><B>My name is  Bryce Gilmore</B></I></div> <div> <I><B><IMG SRC="53596710.jpg" border=0 width="406" height="625" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></B></I></div> <div> <I><B>   </B></I><I><B>  </B></I></div> <bR> <div> <I><B>I have been in the trading business in excess of 35 years with over 25 experience in the futures markets  and  I know the difference between good advice and the typical "snake oil" that is peddled around this industry. Anything I am prepared to tell you is well worth listening to. I would go as far as to say that if I can't teach you to be a successful trader then no one else can. That's a promise.</B></I></div> <bR> <div> <I><B>Now I am semi retired I have had time to assemble some simple rules for new entrants to the trading business to follow for success. Although I use the S&P market for all my examples the method/approach is applicable to all markets. </B></I></div> <bR> <div> <I><B>In 2007 I published my work on day trading principle under the title PRICE ACTION. The trading set ups I describe in the PA book are the "nuts and bolts" for anyone who wants to become a professional trader. The PA book contains an approach to follow with the desire to make regular short term trades with a high probability of success. The criteria I recommend is to only take trades with a low exposure to risk - all the set ups I recommend are explained in the PA book. In fact the bottom line approach is explained with an abundance of classic examples. The real test for a successful trader is being able to follow rules; with the 10+ set ups I describe in the PRICE ACTION book there is one for just about every possible market occasion.</B></I></div> <bR> <div> <I><B>Your road to success lies in accepting the need to only trade when reasonable PROBABILITIES exist and accept that if they are not working to exit  and move on until the next one arrives. If you can develop an attitude where you will wait for the right set ups to appear then you can contain your risk and just execute what you have learnt to believe will work. You will have some losing days, but they should be small ones unless you become reckless. You need to develop a mindset for discipline to only take trades that show promise from what I can teach you. There is no other way to win.</B></I></div> <bR> <div> <I><B>I have other earlier books I have written which would help your understanding of why the markets continue to follow a behavior that is predictable but for beginners I recommend my </B></I><FONT SIZE="3" COLOR="#FF0000" FACE="Arial" ><I><B>PRICE ACTION manual</B></I></FONT><I><B>.</B></I></div> <bR> <div> <I><B>There are plenty of other books available on the internet that offer insites into trading success but most of them are just scratching around the surface, maybe as an assist to my method I would recommend reading Mark Douglas (Trading in the Zone) at least his book confronts the issue of developing a winning attitude and I know that can help you.</B></I></div> <bR> <bR> <div> <I><B>It is in your interest to examine this web site if you don't want to waste years of your time finding a way to WIN.</B></I></div> <bR> <bR> <div> <I><B>The PRICE ACTION METHOD:</B></I></div> <bR> <div> <I><B>The basis of my method is to use technical analysis primarially to establish where the daily levels of SUPPORT & RESISTANCE lie. These can be identified in time frames which range from SMALLER DEGREE and up to LARGER DEGREE which gives us about 5 potential levels to work with. I have formulated rules to determine where the various levels of SUPPORT & RESISTANCE lie. From thereon it is just a matter of following the market price action and buying into support levels or selling into resistance levels. If a particular day is a strong trending day you can add to an upward trend by buying into breakouts above resistance levels or if it is a downward trending day you can sell into breakouts at levels of support as they are broken.</B></I></div> <bR> <div> <I><B>On a day to day basis the market always provides clues for you to use to determine your best course of action. There is no need to forecast what the market will do tomorrow or next week as the RULES will guide you each day to determine the logical SUPPORT & RESISTANCE levels. If SUPPORTS are breaking then you should be selling, when RESISTANCE is breaking you should be buying. When the market is in a defined  range you can execute trades by buying at implied SUPPORT and selling at implied RESISTANCE. If the market breaks out of your defined range you can STOP and REVERSE quickly and go with the new market flow.</B></I></div> <bR> <div> <I><B>Our WaveTrader software has been designed to automatically provide all the information you will need to execute trades at the correct levels. You can workout most of the levels in advance or you can wait until the WaveTrader highlights them for you as the market moves along. Lots of things will jump up that you probably didn't consider beforehand so the software is your eyes and ears for avoiding situations where your emotion has taken over.</B></I></div> <bR> <div> <I><B>The trader with the ability to use both the long and the short side of the market on a day to day basis can outperform the so called Guru's a 100 times over and with my method of day trading where you go flat each night you don't wake up to any surprizes the next day. Each day is a new day with new opportunities and a repetition of the same old things I teach. The only difference is the swings may expand or contract and the market may change direction. Nevertheless my rules cover these situations.</B></I></div> <bR> <bR> <div> <I><B>A TYPICAL TRADING DAY in the S&P500;</B></I></div> <div> <I><B>Most days economic reports are released at 8:30am and 10:00am. </B></I><I><B>The market day RTH is from 9:30am to 4:00pm EST. </B></I></div> <div> <I><B>Within that time we have 6.5 hours or 390 minutes of trading where the volume of trades in the ES eMini can top 5mil but generally 2 mill is an average.  Floor traders are active all day swing trading, technical trend traders take positions early in the day, follow their systems and exit towards the end of the day. Big hitters sit on the sidelines and exploit pattern set ups they are familiar with.</B></I></div> <div> <I><B>The days progress can be progressively up or it can be down or it can be sideways. 2 out of 5 days  the market will close somewhere close to its previous days close. The other 3 it will makes gains up or either retreat backwards. Along the way it has to hold support or break resistance to move along. 1 day in 5 the market will trend up or down basically all day with small corrections from the open until the close. Traders exploit these habits as they unfold, it is as simple as that.</B></I></div> <bR> <div> <I><B>My method is to evaluate the market mood of the day based on it's technical position at the start of the day, its opening price and the direction it is taking based on the known technical support & resistance levels. Trade opportunities may come at the beginning of the day or they may take time to evolve. There could be a GAP opening from the previous day that requires consideration. Generally my method will give you up to 5 solid entry points during the day to execute short term, low risk entries, based on the technical position at the time. When everything is in your favor you take the trade, when it is not you stand aside, just like a good poker player.</B></I></div> <bR> <div> <I><B>Another influence markets suffer on a day to day basis is sudden news reports that can effect buying or selling action in market sectors, these are things that are easy to monitor as all you need is a cable connection to the CNN or Bloomberg news.</B></I></div> <bR> <div> <I><B>I am not in the forecasting business and I am not a financial advisor, I am an opportunist using a process of pattern, trend and geometry I know that other "smart" traders will act upon to execute buy and sell orders in tandem with each other. When the majority of smart traders can identify the opportunity they will throw their money in and the market will either accellerate or reverse direction based on the signal we all see at the time. When the party is over we all start afresh.</B></I></div> <bR> <div> <I><B>The more traders who can identify the opportunities as they arise the better my method works.</B></I></div> <bR> <div> <I><B>If you take the time to investigate the difference between the winners and the losers in this business you will find that my solutions to trading are the best in the business. Our position is a clear and concise approach based purely on the desire to win. </B></I></div> <bR> <div> <I><B>Also we are the only ones providing the software and support to make it possible for the individual trader to beat the market on a day to day basis. You can try all the others if you wish to waste your time and your money but if you survive them your only choice will be to return here. </B></I></div> <bR> <div> <I><B>To win you need to make a commitment to the winning process and follow a path that is a commitment to winning. If not then you are bound to lose.</B></I></div> <bR> <div> <I><B>Now the statistics in the industry are simply this: 90 to 95% of new traders lose money and most of them never return.</B></I></div> <bR> <div> <I><B>So if you want to beat those odds you have to find a way to do it. I KNOW our way is the best and I welcome you to try it. Once you have read our PRICE ACTION manual I invite you to purchase our WaveTrader software and join our LIVE INTERNET discussions group on Hot Comm to participate and learn the finer points involved in trading to win.</B></I></div> <bR> <div> <I><B>BBG</B></I></div> <bR> <div> <I><B>Links to important information are below. </B></I></div> <div> <A HREF="id67.htm" TARGET="_top" TITLE="My eSignal Layout "><U><I><B>See my office set up</B></I></U></A></div> <div> <A HREF="id93.htm" TARGET="_top" TITLE=" WaveTrader 2007"><U><I><B>See our Hot Comm room offer:</B></I></U></A></div> <div> <A HREF="id109.htm" TARGET="_top" TITLE="Price Action Manual"><U><I><B>See our PRICE ACTION manual offer:</B></I></U></A></div> <div> <A HREF="id3.htm" TARGET="_top" TITLE="Wavetrader "><U><I><B>See our WAVETRADER SOFTWARE offer:</B></I></U></A></div> <div> <A HREF="id96.htm" TARGET="_top" TITLE="WaveTrader ES Assistant"><U><I><B>See our WT ASSISTANT SOFTWARE offer:</B></I></U></A></div> <bR> <bR> <div> <I><B>SUPPORT & RESISTANCE</B></I></div> <div> <I><B>Support and Resistance levels traders use to buy and sell from can be seen on your charts if you know what to look for. </B></I></div> <bR> <div> <I><B><IMG SRC="772fe350.png" border=0 width="510" height="309" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></B></I></div> <bR> <div> <I><B>IMPLIED SUPPORT & RESISTANCE</B></I></div> <div> <I><B>Then there is what I call IMPLIED S&R, these are levels where strict geometric sequences form between market swings highs and lows made along the way. An implied S&R could be at a RETRACEMENT level or a combination of swings that geometrically relate to prior swings and terminate on a retracement level or an expansion of significant consequence.</B></I></div> <bR> <div> <I><B>Implied S&R can be defined in time frames from 1 minute and up to monthly; to keep track of the various swing degrees requires work or a dedicated software to ensure you do not overlook anything. This is where the WAVETRADER software excells if you want to trade my method.</B></I></div> <bR> <div> <I><B>Most days the S&P500 Index (SPX) will move up and down reacting off levels dictated by the rules known only to professional traders who understand how the market flow is determined. A novice with no knowledge of these rules is basically a sitting duck to make losing trades 4 days out of 5.</B></I></div> <bR> <div> <I><B>The PRICE ACTION manual outlines the conditions and the sequences of geometric swings that provide the best opportunity to make low risk entries with a high probability of success.</B></I></div> <bR> <div> <I><B>PATTERNS:</B></I></div> <bR> <div> <I><B>Geometric patterns that form between market swing reversals or waves of similar degree could have infinite possibilities. Nevertheless there are regular patterns that repeat over and over again virtually intraday in 3 minute bars, 5 minute bars, 15 minute bars, 60 minute bars and on up. They can repeat over a 30 minute period or anywhere from an hour to a day or several days.</B></I></div> <bR> <div> <I><B>There is a fraternity of professional traders in this world who have the means to track these unfolding patterns and qualify and quantify their meaning relative to trend, daily ranges and/or the fundamental news that is constantly influencing the ups and downs each day.</B></I></div> <bR> <div> <I><B>When an unmistakable pattern comes to completion under the right technical or fundamental conditions they will flood orders into the market to anticipate taking advantage of the situation. It could be that they are betting on a reversal at that point or it could also be that they are betting on a continuation.</B></I></div> <bR> <div> <I><B>If you know and are familiar with the repeating patterns that will influence traders actions and you have a way to track them in all time frames you can be one of them. </B></I></div> <bR> <bR> <div> <I><B>THE S&P 500:</B></I></div> <bR> <div> <I><B>The S&P chart pattern is a combination of all the movements within the top NYSE 500 stocks. The S&P500 Index also has the advantage that the top 100 stocks in the S&P are represented by the OEX index. </B></I></div> <bR> <div> <I><B>Now by tracking the market flow in the OEX versus overview to the S&P and the futures vehicle, the ES,  the market IMPLIED support and resistance levels will become more obvious to you. </B></I></div> <bR> <div> <I><B>If the OEX is having a directional day and is working to my rules it will confirm situations which will influence the overall performance in the SPX and the ES futures. Those day offer extraordinary trading opportunities. By tracking all the charts forming part of the total complex you will see the opportunities to buy or sell instantly.</B></I></div> <bR> <div> <I><B>Basically speaking the daily price movement in the S&P500 moves along conforming to certain PRICE ACTION rules at certain times especially when other criteria is present.</B></I></div> <bR> <div> <I><B>Patterns evolve from day to day and out of previous days patterns in formations known as 1:1's, these can be double drives or corrections interpersed with retracement level reversals falling in larger degree 38.2, 50 and 61.8 retrace levels. Then there are the cases when you have double tops and double bottoms to contend with.</B></I></div> <bR> <div> <I><B>If you have no understanding of these things you are really playing tennis from 5 yards behind the base line.</B></I></div> <bR> <bR> <bR> <bR> <div> <I><B><IMG SRC="7737e040.png" border=0 width="894" height="516" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></B></I></div> <bR> <bR> <bR> <div> <I><B>My method is a far step from the ROCKET SCIENCE approaches used by the forecasters who cannot even get close to performing anywhere near the market averages. In fact the PA method gives you the opportuniy to out perform the market averages 10 to 100 times over.</B></I></div> <bR> <div> <I><B>Those people who only trade EOD (end of day) data are a mystery to my thinking, you only have to look at a daily chart to realise the 100's of trading opportunities they never see. My method is never focused on the wrong technical direction for more than 1 day and even then that day can be a profitable one.</B></I></div> <bR> <bR> <div> <I><B>PRICE MOVEMENT IN MARKETS:</B></I></div> <bR> <div> <I><B>Price movement in markets is not static. By that I mean it is not important if the market moves 5 points in a move 8 or 9 or even 20. What is important is how the swings or waves relate DYNAMICALLY and GEOMETRICALLY. And also how they relate to known support and resistance levels in the unfolding patterns.</B></I></div> <bR> <bR> <div> <I><B> <A NAME="i_ll_give_you_an_example_"><IMG BORDER="0" SRC="1x1.gif" HEIGHT="1" ALIGN="bottom" WIDTH="1" HSPACE="0" VSPACE="0" ></A></B></I><I><B>I'll give you an example.</B></I></div> <div> <I><B><IMG SRC="779006d0.png" border=0 width="1024" height="877" ALIGN="BOTTOM" HSPACE="0" VSPACE="0"></B></I></div> <bR> <bR> <div> <I><B>ALL OF THE WAVETRADER ANALYSIS CAN BE CONDUCTED INSTANTLY ON ONE COMPUTER </B></I><FONT SIZE="3" COLOR="#FF0000" FACE="Arial" ><I><B>REAL TIME</B></I></FONT><I><B> USING ONLY 2 COMPUTER SCREENS. You can flick through screen after screen to access ES, SPX, OEX and DJIA in 8 individual time frames without any delays.</B></I></div> <bR> <div> <I><B>For more information see our </B></I><A HREF="id54.htm" TARGET="_top" TITLE="Summary"><U><I><B>WAVETRADER HELP </B></I></U></A><I><B>section:</B></I></div> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> <bR> </td> </tr></table></body>