George Lane successfully using the stochastic

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George lane in December 1996 noted the 47-year trading, but is still actively working. After many years at the grain exchange in downtown Chicago, lane has shifted to screen trading, "gone to rest" and moved to a small village located 80 miles South of Chicago. However, the "care holidays" for different people mean different things: lane was on his feet until two in the morning, engaged in the trading of Italian bonds on the eve of the conversation with your correspondent. Lane said, "I had fun!.. It's better than to earn a living!"

In his youth, lane was going to become a doctor like his father. But one day I was walking in the evening in Chicago. I went in one building to buy a cigar and heard a terrible noise upstairs. I got up and saw all these people standing around and shouting. Suddenly I was intrigued, and medicine was neglected, recalls lane.

While initially lane worked as a broker, he said that "it was not particularly successful, because as a broker you are required to give customers advice that would be in their best interests. Sometimes what you think, contrary to what he thinks the firm". In the late 50's lane for $ 25 bought a membership open trading on the Chicago exchange (Chicago Open Board of Trade) and started trading in grain. Open the Chicago Mercantile exchange, now known as mid-America commodity exchange (MidAmerica Commodity Exchange), was founded in 1868. At first, recalls lane, "I have nothing worked. One of the veterans of the exchange as at the end of the day approached me and asked how things were going. Every evening after the auction we went to a local bar, and if I placed him some whiskey, he taught me everything he knew about the markets. He introduced me to the method of Taylor, who is a three-day cycle of trading." Lane began to understand the rules of trading and achieve success in the stock room. He later became President of the Investment Educators Inc. "I worked in trades all day, and we met in the evening", says lane. Here he invented 64 the provisions of the stochastic, this widely used momentum indicator.

"Stochastics measures the momentum (momentum) rates," explains lane. - If you can imagine a missile launched into the air, before it starts to fall down, speed it necessarily decreases. Momentum always changes direction before price... This is a very complex instrument". According to the book of John John. Murphy's "Technical analysis of the futures markets, stochastics "is based on the observation that as price increases, the closing prices tend to the upper limit price fluctuations. Conversely, if trends down, prices at the closing want to get closer to the lower limit of the range. In the stochastic process uses two lines: %K line and %D Line %D is more important, because according to the main signals.

"we had %A and %B, we have twice taken the whole alphabet, designing a system. Then we opened the %K, and then and %D, and this whole damn thing work. After that we scored the study and began to walk each day in the exchange hall, earning a living," says lane. He considers himself a purely technical trader. "I read baselines, but it is not necessary to conduct trading. The technical side is much more profitable." However, according to lane, "if you're going to become a trader, then get ready for hard work: have to look in the computer from five to six hours every day."

currently, while in "retirement", lane makes from four to twelve transactions daily. His time frame is 45 to 75 minutes, with average yield in "150, 350 and 750 dollars from the transaction." "They all add up in the end. You can earn per day 5000, trading one lot", says lane. From your screen lane leads trading in the three-minute, 15-minute and 30-minute charts, relying on "stochastic, volume and trend lines". Recently, lane was engaged in trading in a futures contract, the S&P 500 at the Chicago Mercantile exchange. He sticks to liquid markets, avoiding fine contracts, such as a forest or futures on pork belly. Lane is not limited to American markets: according to him, 20 % of his trading extends to foreign futures markets. "German bonds and Italian bonds actively go on auction", notes lane. At the same time, lane says that never leads trading, not to protect its position stop laskovym the order: "This is the secret of making money on goods - control the size of their losses".

lane recommends beginners futures read "three books of John hill (John Hill) about the fundamentals of scheduling. Well if you know how to make graphics, the graphics themselves will tell you all".

"we can learn to do yourself," says lane. Brokers are traders. Never listen to the advice of the broker. Because otherwise, you acknowledge that you do not have enough brains to make independent decisions." On the question of what is a key success factor in commodity trading, lane replied "Greed. Trading is fear and greed, but if you have a strong enough desire to lead a successful financial life, then you will succeed".

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