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Excellent point. More work needed there for sure. I'll cancel the yacht order for this summer. :D Re. Spyders debrief above: I thoroughly recommend everyone read and re-read the mistake and recovery rules relating to the possible Pt3 pink channel until their eyes bleed. Pure gold.

Today's Nikkei chart for those interested. AM was well behaved (like a smooth downhill race course), the PM was more technical with a lot of HVS (like moguls / bumps). Note pace change. Forest view FTT kept you on the right side all day although holding through the HVS is tough (fan from Pt1...

I've mentioned this to Spyder already: The elephant in the room is: how will you perform when real money is on the line. The detractors focus on this while we are learning; they have a point although they are also normally very close minded, damaged and negative (for whatever reason). I'm...

This is actually an intelligent motion worthy of more debate. I'll leave it up to Spydertrader, if he wishes to respond. Thread could be put back on track. :)

Come on own up: who PM'd Mr Balls? That's too funny. Or sad, I can't decide.

Last May gave me the heads up that it is good to be prepared to trade the short side. So I focus on futures.

I've just changed my chart background to eggshell. It is very calming compared to the black I was using before. I just wanted to share that with everyone. Also this: a really good FTT trade will make an observer behind you scream "You're going to do WHAT??" Try it.

Thanks I'll try that. Could turn out to be one of the more valuable posts I've read on ET. :)

Not that I'm qualified to give advice really, but remember that price action determines the channels not the other way round. Subsequently price may stay within an established container for a while but you have to allow time for the container to form (the recent memory of all that volume that...

I assume we are meant to be fooled into thinking the vertical line on the left is shorter than the line on the right? Well, the "windows" on the left ARE smaller than the windows on the right so that kind of spoils it for me: trying too hard to fool.

Hi Gerry this is just a hunch of mine as I don't know you at all, but I'm willing to bet that if someone took the time 1on1 with you to explain sct you would become one of its strongest advocates. You are so very close to getting it. For some reason you are blocking learning. Change your...

It's a funny thing, price. Some of the buyers would be shorts who were taking profits too soon. At every price level and time-frame there is ambiguity about future price direction.

Interesting choice of words. I do not see it as a fight, more like 2 camps: The amused and the confused. Anyway it is the year of the golden pig, dogs were last year. This and other similar threads makes me think of 2 proverbs: casting pearls before swine; you can't make a silk...

LOL - you're a class act Mr Pinochet, sir! Yes, you saw very clearly why these stocks are 2+ Beta.

Translation: "A gifted old school energy trader shares a similar approach to the market as Jack. While he was at GS, he had to remain within the conventional wisdom of the macro-quants." I thought you were objectionable up til now, but now I understand you are just a bit dim and harmless.

I couldn't resist jumping on this assertion you make. Cracks me up when people say they know something when the evidence suggests otherwise. So Mr Harold Balls took around 30 points in 2 trades with 25 cars using channels and the FTT. Ballsy trade! Give me some of that. Nothing to see...

Could be months before the initial TL is touched again. Did anyone take out more than the H-L range? (Too busy holding onto your hats, I bet!) Actually this is a serious question - on days like today is it harder to stick to the system absolutely and not get blinded by the P&L?

I'm not Spyder :), but the FTT on your chart looks like it formed 3 days ago (long channel) at the 44 level. You have labeled where you anticipate a break-out (short).

I couldn't agree more: early exits for a few ticks will lead to mistakes longer term. Good post I've printed this out.

Very nice. How do you decide between the Nikkei and the HSI? (Do both?) P1 PS. anyone know why the markets are moving so I can sound knowledgable to my wife?