Book: Kane Trading on: Trading ABCD Patterns
Q: Who's behind Kane Trading?
Q: What's different about Kane Trading?
Q: I notice you write frequently about different 'myths'. How come you
discuss myths so much?

Q: What can you tell me about your writing style? I've seen you mention
your writing style and presentation in a few places, and I wonder why
you bring it up.

Q: I've heard a little bit about your philosophy on the critical elements of
a trade. Do you have details available?

Q: Why don't you make market calls on your website?

Q: Who's behind Kane Trading?
A: Kane Trading is run by Jim Kane. I develop the products and write all the commentary. Many times, though, you'll see references on the site to 'we'. That is because it takes the effort of many people to develop and run a website, and to run a business. Kane Trading 'contracts out' for many of these services. To give credit to the many who have contributed to this effort, the reference to 'we' is frequently used on the site. For more information on Jim Kane, see the section on 'About Kane Trading'.
Q: What's different about Kane Trading?
A: There's a lot different about Kane Trading and the Kane Trading philosophy. I'm not saying everything I present will be unique, or that no other sites share some of the same philosophies. What I am saying is that the Kane Trading site and products focus on real world trading difficulties, not on hype. I present material that I hope will help traders improve their trading skills, as opposed to hyping up trading as a make a million-a-minute business that's easy to 'master', if you only buy my products.
I contend that trading is an extremely difficult business that few will succeed at, and those that do will work very hard at it. I present trading as anything but exciting or glamorous. It's hard work and can be a real grind. But, and here's the critical part, if you've already decided, before you ever checked out Kane Trading, that you want to take a shot at this business, that you want to do the work, I will do my best to offer products to help you.
I think product sellers who promise big dreams (I've seen them referred to as 'dream merchants') sell many more products that I ever will. My audience will be small and select. The truth is, very few people want to do the work. I used to be a teacher, and the most common comment I got, far more common than any other remark, was 'I don't want to know how to do it, just tell me what to write down.' If you tell people it's a long, hard road with lots of work ahead and a fairly small chance for success, you'll scare away just about everybody.
On the other hand, if you promise riches for no effort and people will line up and give you ridiculous amounts of money for the 'secret'. Since, in my humble opinion, there are no true 'something for nothing' game plans (at least no legal ones), it's all false hope. My experience is that the majority of people would rather pay big money for hope than pay small money for help on how to do their own work and put in the effort it takes. Personally, I could not feel good about myself if I sold products that I didn't believe in the merits of.
I choose to sell a lot less product for a lot less money, but have belief they have value. When I read a book, my hope is to get one good piece of information out of the book. One thing to help improve my game plan, one more piece of the puzzle. If I get that, I will feel satisfied in having bought the book. I don't expect to read a 'secret' and then make a zillion dollars overnight using it. To me, being happy with one good helpful hint, that reflects reality.
It is to those who understand exactly what I'm saying here that I have created this site and developed my products. I didn't start out saying 'What can I do to maximize the money I can make with my products?' It was more like 'I'm going to develop products that teach the things that saved me time and effort in my own education. Things I wish I could have found when I was starting out. Then I'll sell them for what I feel is a fair price and hopefully make a few dollars doing it.' That sums up the gist of the Kane Trading philosophy.
Q: I notice you write frequently about different 'myths'. How come you discuss
myths so much?

A: In my own trading education I've encountered a lot of information. I've found that a large part of this material just didn't hold water in my own real-world trading. Much of the material appeared to be written by people who didn't seem to have practical trading experience. But I didn't know this until I, personally, developed the experience to see that these things were 'myths' that were being continuously and repeatedly propagated.
Since my focus on this website is to try and save developing traders some educational time in their evolutions as traders, I feel that pointing out these myths, as I encounter them, is an important part of what I offer. One example is my free article Kane Trading on: The Myth of 'Right' or 'Wrong' on a Trade. Now in no way can I say that just because I write that something is a 'myth' that it is completely not true, or that a technique, say, doesn't work at all. What I am trying to point out is how the common viewpoint on the topic is, perhaps, not all there is to the story. I'm not trying to tell you 'this' or 'that' is wrong, I'm trying to give you food for thought and, most importantly, I'm trying to get you to think!
Q: What can you tell me about your writing style? I've seen you mention your
writing style and presentation in a few places, and I wonder why you bring it

A: I want to state right off that I am in no way a professional writer. In fact, in school I did well in Math and basically hated English. I have worked quite hard to improve my writing, in order to be able to present works that are of the quality and clarity I feel comfortable with. I am a severe perfectionist, and dislike doing anything below a high level of quality.
I have been working with a few 'coaches' who have been helping me improve my writing. I finally decided that I am not comfortable writing and producing works that my old English teachers would be happy with, or that would be acceptable to a conventional publisher. To do that, my writing gets so 'chopped up' that it may then pass the conventional standards, but it barely says what I want to say anymore. Anyone who has done any kind of professional writing knows exactly what I am saying.
So I decided that I am going to write in my existing style, and my customers will tell me whether or not they like it (or should I say my customers will tell me if they can understand my point without undue difficulty)? What I try to present is not as much a written book, in the conventional sense, as a narrative, as close as I can get it to what you would hear if you saw me do a lecture, or if you sat with me as I traded, and I explained things.
I am presenting my works to explain what I feel are my own unique and valuable trading ideas. I am not trying to win any literary prizes. I think, to some extent, this is also true with almost all self-published books written by traders. If your main desire is to get the information, and you can be a little tolerant of my 'I would be looking at…' and ' As we move ahead here we see…' style, I think you will greatly benefit from my works.
I also use a lot of charts, and I mean a lot. I do not do this to take up space in my books so I can charge more for the books. I do this because I feel the only way to show and explain the concepts that I teach are with charts. I frequently use a strategy of following a past trade example as it unfolds, so decisions and thought processes can be demonstrated as though they were unfolding in 'real-time'. This requires me to capture many charts in a sequence, adding a few bars at a time, or even one bar, and explaining what I see happening 'frame by frame'.
This is how I can best explain my methods, and how I, myself, learn best. If you do not like this style, or if you feel it's just a bunch of charts for 'fluff', then I can tell you right now that you will not like my work. For me, I pretty much only like a trading book if it is loaded with charts. I've never seen a book with too many charts. Given that, I decided that my works would have all the charts they needed. My hope is that my readers will have preferences similar to mine, and that they will be quite happy with my use of charts, and well as with my works.
Q: I've heard a little bit about your philosophy on the critical elements of a trade.
Do you have details available?

A: Yes, I've laid out the details in a free article entitled Kane Trading on: The Critical Elements of a Trade. You can just click on the title here to go directly to the article, or access it through the free articles link in the education section of the website.
Q: Why don't you make market calls on your website?
A: There are several reasons why I don't make market calls on the website. What is important to understand is the 'mission statement' behind Kane Trading. On the 'About Kane Trading' page I wrote: "My intention is to provide quality educational products for traders." I would ask that you go to this page and read it (or read it again, if you've already done so), and familiarize yourself with my philosophies and purpose.
I am trying to help traders become self-sufficient. I am offering educational material to help guide this process. What I am not doing is trying to provide a service that makes calls, so the trader can simply place trades based on someone else's say so. I'm not in any way knocking such services, or saying that they don't have value. I'm simply pointing out that I have chosen a completely different route for this website. If you want to learn how to make your own market calls, you must develop the skills to do so. That is what I want to help traders with.
If you don't want to become an independent trader, and you want others to 'tell you what to do', this website is not for you. I believe that trading is about developing an edge, which you use in your trading. You attempt to use this edge such that the net dollar amount of your winners exceeds the net dollar amount of your losers, netting you a profit. Many successful traders do this with win ratios in the area of 30%, 40%, or almost 50% winners. The idea is that the size of the winning trades is greater than the size of the losing trades, allowing there to be a net profit.
Now here's the point. Who would pay for a service where the 'guru' was wrong 70% of the time, for example? My guess is: almost no one. Yet that trader may be making money overall. I feel that most people who subscribe to a service whose main function is to make calls give up on that service when they discover that the service is hitting 30%-50% of the calls, at best. Then they move on to another service that is making great claims. And they just keep switching.
I believe that if a trader were able to make money with 30%-50% correct calls, they would have a lot of the skills that I am trying to teach with my products. But then they would also have the skills to make those calls themselves, and hence not need the service. What about if you are a beginner, and can't yet make the calls yourself? I feel that if you can't yet make the calls yourself, you likely don't possess the skills at this time to make money when the calls are only at 30%-50% winners.
So, do I see any use for such services? Absolutely. If you find someone who has a trading philosophy similar to your own, and you simply want to pay someone to do the legwork for you, to uncover the opportunities that you would uncover yourself, then I feel that there is value in that service. I have followed many services myself, and I have used them for that purpose. I have not found a service that I would use in any other capacity, but I am not stating as a fact that no such 'guru' services exist. I'm only saying that I don't believe that you can get something for nothing.
Now, as far as what I do in my market commentary, I frequently focus on things that happened that day. These are usually things that I think demonstrate some Kane Trading technique or philosophy. I may also point out things that I may be looking for in the upcoming days, if they relate to some idea or concept that I am focusing on. None of this is designed to 'make a call' on the market. It's designed to follow my mission, which is to educate.
And as far as my own trading, I play the probabilities. I look for what I consider to be an edge, and then I make a trade according to my 'Trading Plan'. I understand, and accept, that perhaps as many as 70% of those trades might not fully 'pan out', yet I may still net a profit overall. My focus is on my risk management, my stop loss, my trade management (if the trade begins to go in my favor), and a host of other things that make up my plan.
The potential trade area is but one small aspect of my overall plan. This could be thought of as the 'market call'. Since everyone will have their own unique plan that they devised specifically for them, I don't see how someone else's market call can be of much use to them. That is, unless, as I mentioned before, they have found someone who is pointing out potential trade areas that fit their specific criteria.
Myself, I don't feel the need to 'establish' the value of my techniques by making market calls, and hoping that they meet the exact needs of the person getting the market call. I feel that a 'track record' between 30% and 50% correct on 'market calls' would be quite good, and I feel that most people looking to subscribe to a 'tell me what to do' service would drop a service like that in a heartbeat. To me, that reflects a total disconnect with trading reality.
I have chosen not to get involved with a game where 'you are only as good as your last call'. To me, that is not what trading is about, and not why I have this website. My goal is to help traders who want to learn trading as a business, and who want to learn to be independent. I am not trying to 'prove' how great my 'calls' or my methods are.
If it turns out that there are not enough people out there (who want to work hard on being independent traders) to support my efforts as an educator, I'll simply close down the website and stop offering my products. None of that would change my views on trading, or change my own personal goals as a trader. I'm not, nor will I ever be, a market timing 'guru'. I'm a trader. And trading is what I teach.
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