GEORGE LANE

Many traders can only dream of stable trading in the financial markets for years. Everyone understands that a trading strategy will eventually outlive its usefulness and begin to generate losses, and it's very difficult to determine at what point this occurs, leading to significant losses.

After reading many successful stories, you realize that every trader should have a certain ace up their sleeve—a versatile approach that will keep them in the saddle for years to come.

George Lane's story is very similar to the stories of many successful people: an unnoticed young man who didn't even know the stock exchange existed, who rose from rags to riches, as they say.

George Lane grew up the son of a successful physician and dreamed of following in his father's footsteps his entire life. To that end, George even graduated from medical school, but a simple accident changed his life forever.

One evening, George, returning home, decided to pop into a store to buy a cigar. However, he didn't find a store, but rather the stock exchange, where he saw crowds of handsome men squabbling and arguing with one another.

Having inquired about this establishment, he quickly realized that it was a stock exchange, and the spirit that reigned in this building attracted him to this place.

It was this day that changed George Lane's life forever, so he decided to 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 give up his medical career, George began independently studying stock market literature and delving into the intricacies of the exchange. To solidify his knowledge, he took a job as a broker, but the internal moral conflict between trader and broker simply prevented him from remaining in his position for long.

George believed that a broker was simply obligated to help its clients earn money, give sound advice, and try to teach newcomers something. However, as you know, a broker only earns a commission on completed transactions, and it doesn't matter whether the client wins or loses—the broker always makes a profit.

This heartless company policy simply killed all of George's potential, so he decided to trade independently on the Chicago Open Market.

Features of stock exchange trading.

George Lane chose grain as his stock market asset. And then, for the first time, George felt the bitterness of defeat, as at first he suffered nothing but losses. After the end of another trading session , George left the trading floor devastated by yet more losses, and his disappointment was sensed by a successful trader who approached him and asked how he was doing.

One chance encounter, however, turns George's life upside down. In the evenings, he invites a permanent new mentor, where, over a couple of shots of whiskey, the mentor, revealing his secrets, begins to share the truth about his success. These meetings greatly helped George get back on his feet, and within a short time, his success surpasses that of his mentor.

George not only traded actively but also conducted scientific research. For his success, he became president of Investment Educators Inc., and during his research, he created the famous Stochastic Oscillator.

Incidentally, few people know that Larry Williams' %R indicator is essentially a reverse stochastic oscillator 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 was devoted to his creation, the Stochastic Oscillator . He used it for 60 years, and in an interview with a renowned trading magazine, he said that, in his opinion, the indicator's strongest signal is divergence near the 20 and 80 levels.

It was this signal that brought George a steady income for 60 years. Sadly, George Lane died in 2004, but his work and inventions remain relevant today and have found a new application: the forex market.