George Lane: Successful Forex Trading Stories

Professional trader George Lane m. D (1921-2004) was a medical doctor, professional traders, trading mentor, and author who creates a technical indicator of stochastics. Until his death, Lane keeps trading with indicator creation which is one of the most technical indicators are widely used in all types of markets.

“Stochastics measures the momentum of prices. Imagine a rocket that slid up onto the air. When will began to fall back on, his movement is undoubtedly slowing down. Momentum will always cause a change in direction before the price movement itself. For me, the stochastics indicator is incredible. “said George Lane, who is also the owner of investment company Miller, Lane & Co. with 41 branch offices.

Lane got interested in the world of trading while he still practices as a doctor in her father’s clinic in an industrial area of Chicago. When his father retired, he decided to close the clinic and full concentration in trading commodities. In the late 1950s, Lane bought membership Chicago Open Board of Trade (now called MidAmerica Commodity Exchange) and started trading seriously. “I’m having a lot of harm. A worker at the place I tried trading broker helps with teaching methods of Taylor, that cycle of price movements every three days, “he recalls.

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From some science acquired, Lane tried to make a simple method that could help him in reading the chart. “In the beginning, the trading charts are very complex, but as I understand why prices move and how should the price moves, I began to create simple indicators to recognize the momentum of the market,” he said. He then reaps the benefits gradually, along with the improvement of the indicators ‘ stochastic. ‘

“Basically, the stochastic does not follow the price or trading volume. Stochastic indicate speed or change of momentum of the market price. This indicator signaled before the price changed direction. Stochastic has made my income doubled. “he added.

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Beginning his trading career, Lane also briefly worked at a brokerage and commodity trading science teaching in individual schools called investment Investment Educators Inc. in Watseka, Illinois. At that time, it was the only school in the United States that teaches about science investments.

When the owner died, Lane took over the school and then managed it with more professional. In addition to providing consulting services to investors and financial professionals, Investment Educators Inc.also teaches advanced technical analysis methods. Lane served as President of the school until his death.

In addition to the stochastic indicator creation, the most crucial thing in trading, according to George Lane, is money management. He rarely enters the market without a stop loss. “Trading without a stop loss? How do you protect your account from the loss? It is not. It is a crime in the usual trading done by amateur traders. Try to check out what the secret of successful traders, they could manage the risk appropriately. “he said.

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Until the end of his life, George Lane that in 2012 the posthumous award of Market Technicians Association remains active in various types of trading the market with a consistent profit. Only three tools that he used: stochastic indicators, Fibonacci retracement level, and trend lines.

In an interview, Lane advised, so that novice traders learn a lot of reading chart. “If you can understand the chart, he will say it all, trading charts never lie. Don’t trust for granted on the recommendation of the broker. The broker is the seller. More Sage if you learn from the senior who is much more experienced. “

One comment on “George Lane: Successful Forex Trading Stories

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