I have not seen this posted on this thread (apologies if I missed it) but there's another median line expert : Patrick Mikula.
He runs a website (unfortunately, it focuses more on Gann and planetary stuff) but I enjoyed reading his book "The Best Trendline Methods of Alan Andrews and Five New Trendline Techniques" and strongly recommend it.¨
EDIT: I also have an ebook containing 14 of Tim's best articles, sent by traderinterviews.
The title is "14 Lessons and Strategies of a Millionaire Trader", it's free (just google it)
but I don't think it has any new material. The articles were already published on moneyshow.
Last edited by Venoom; February 6th, 2012 at 11:44 AM.
would you mind elaborating on this? It would be interesting if you could tell me more.
I personally read a few median line books.
- I found Tim's book very basic, there is more value in his articles, imo. If you read all his articles, you don't need his book.
- I read Greg Fisher's 2 books. Both interesting. (one is free)
- Patrick's book was the one I liked the most. It explained much of what one would want to know about median lines, and introduced some new techniques. There was enough in it so that a beginner could experiment the methods for few years. (but I'd agree if you say that Tim's articles have more value and more advanced techniques)
- I also tried to read Mircea Dologa's book and gave up after few chapters. I found it unreadable, not very well structured, and filled with small charts cluttered with lagging indicators like MAs and BBs. Did anyone on this thread read it?
I personally use trendlines and I am trying to incorporate median lines.
Takes knowledge and experience with Andrews fork , been watching forks and median lines for about 6 months. The trick is to learn to set the fork and then watch the price action for couple of weeks to months. I have been using a fork on a 20m chart and watched the same fork for months. It is hard for me to belive what i see how price responds to the lines that were drawn weeks ago
I also have forks set on 60m, 4 hr , weekly charts
Do some research on Rodger Babson he made more than a fortune with median lines and founded Babson Collage
Patrick's book takes some liberties with Alan Andrews' original course. His discussion of trigger lines and min-median lines doesn't come from Andrews course material. He also doesn't trade using median lines. He uses Gann techniques. This doesn't mean that there isn't some good information in his book. I guess I mainly find the title to be misleading. I would recommend that anyone thoroughly test any technique in this book (or any book) before applying it to their own trading.
Dologa's book is hot garbage in my opinion. He has taken a trading technique which is beautiful in its simplicity and turned it into hieroglyphics. I found this book totally incomprehensible.
Personally I would recommend that anyone interested in median lines to read all of Tim Morge's articles. There is enough material there to become a good trader. Its the practice that we all need to get good at this tool. If you have a little bit more money to spend I would recommend his premium membership on marketgeometry.com. Its around $150 a month. I consider this dirt cheap to learn trading from one of the largest currency traders in the world.