There are people who are not in public, and doing good work. I met one...Himanshu Shaah. As per my understanding, Himanshu Shaah is still
quiet low profile. Only accepts students by reference. No advertisement or publicity. I came to know about him only through a friend of mine.
Prior to that I was looking at the most advertised and commercially available options. They seemed to lack substance that I was looking for.
I had read books by good traders like Alexander Elder, Curtis Faith, Van Tharp, Michael Douglas. So I had basic understanding as to what to look for in a sound trading approach. I found all of them in Himanshu Shaah's SHIKSHA system.
And regarding people who have lost, you would agree that, one can take horse to the fodder, but he cannot feed the horse.
Yes the system is quiet comprehensive in terms of how to decide ENTRY, EXIT, STOP-LOSS and RE-ENTRY. A lot has to be taken in before you can start to trade any of the numerous setups based on the system.
I am new to trading. I too lost initially, when my understanding of the system was nascent. I made mistakes not just in the system but also in placing orders. But with constant perseverance, I was able to understand the basics of the system. Backtested on historical data one of the setups that suited my temperament. In my two months of trading I am net positive in my trading account. And the returns per month are in double digits percentage wise.
One will loose big time in this market irrespective of whose system you are following, if he
- fails to maintain sound position sizing
- does not understand his entry and exit strategies
- goes beyond his emotional capacity for trading (taking too large position)
- Over trades
- force trades
- Fails to have a stop loss
- Looks for easy profits without putting in efforts
- Switches setups frequently (most likely because none have been backtested to build conviction)
- tries to trade contrary to what market wants
And most traders would agree that Stock Market trading is a game of positive expectancy. And this system does have a very good positive expectancy.