GEORGE LANE

Many traders can only dream of stable work in the financial markets for many years. Everyone understands perfectly well that sooner or later a trading strategy becomes obsolete and begins to bring only losses, and it is very difficult to understand at what stage this happened, which leads to large losses.

Having read many stories of successful people, you understand that every trader must have a certain ace up his sleeve, namely such a universal approach that years later you can remain in the saddle.

The story of George Lane is very similar to the stories of many successful people, namely, an unnoticed young man who did not even know about the existence of the stock exchange went from rags, as people say, to riches.

George Lane grew up in the family of a successful doctor and dreamed all his life of following in his father's footsteps. For this, George even graduated from a medical university, but a simple accident changed his life forever.

One evening, George, returning home, decided to stop by the store to buy himself a cigar. However, he did not end up in a store, but in a stock exchange where he saw crowds of stately men quarreling among themselves and proving something to each other.

Having asked what kind of establishment this was, he quickly realized that it was a stock exchange, and the spirit that reigned in this building really attracted him to this place.

It was this day that turned George Lane’s whole life upside down, so he decided to forever give up his dream of becoming a doctor and immediately decided to try himself as a trader.

The beginning of a trader's journey

After deciding to refuse to be a doctor, George begins to independently study stock exchange literature and delve into the intricacies of the stock exchange. To consolidate his knowledge, he gets a job as a broker, but the internal moral conflict between the trader and the broker simply did not allow him to remain in his position for a long time.

George believed that a broker simply had to help his clients make money, give good advice and try to teach newcomers something. However, as you know, the broker only earns a commission from completed transactions, and it doesn’t matter whether the client loses or wins, because the broker is always in the black.

Such a soulless company policy simply killed George’s full potential, so he decides to trade on his own on the Chicago Open Trading Exchange.

Features of exchange trading.

George Lane chooses grains as an asset on the stock exchange. And here for the first time George felt the bitterness of defeat, because at first he suffered only losses. After the end of the next trading session , George left the trading floor devastated due to yet another loss, and his disappointment was caught by a successful trader who directly approached and asked how he was doing.

One chance acquaintance turns George's life upside down. In the evenings, he invites a permanent new mentor, where, over a couple of glasses of whiskey, he, without hiding his secrets, begins to tell the whole truth of his success. These meetings greatly helped George get off his knees, and after a short period of time his successes surpassed those of his mentor.

George not only conducted active trading, but also conducted scientific research. So, for his successes, he became the president of Investment Educators Inc, and in the course of his scientific activities he created the famous Stochastic oscillator.

By the way, few people know, but the Larry Williams %R indicator is the same stochastic in reverse and was invented by George Lane. George himself said that Larry Williams simply attended his seminar and brought his idea to life.

George Lane's Strategy

George spent his entire trading career devoted to his creation, namely the Stochastic indicator . For 60 years, he traded using it, and in an interview with a well-known stock exchange magazine, he said that, in his opinion, the strongest signal from the indicator is divergence near the levels of 20 and 80.

It was this signal that brought George a stable income for 60 years. Unfortunately, George Lane died in 2004, but his works and inventions remain relevant to this day and have found a new area of ​​application, namely in the Forex market.