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@jas_in_hbca: Couple of days ago I mentioned, based on my analysis of CL, that the expected target was around 61.50. Today, there is some weakness showing up (price is trading around 61.xx as I type). So, based on today's close and how the open looks like tomorrow, price might or might not test...

@Butterball: What are you talking about? :) 'Confusion' (about concepts in Math, Stats, Logic, and Finance) and surf? But .... But his wife has a PhD in Finance, and he is surrounded by Math and Stats PhDs. So, he too is an 'expert' in those subjects. Just like I am an expert in the anatomy of...

For Christ sake, stop it. I almost killed myself laughing! :)

@kut2k2: There are threads where trolling should not be fed. I am for it. However, it seems to me OP started this thread for entertainment value. Who, other than Mr. Niederhoffer himself, cares what Mr. Niederhoffer thinks or doesn't think. Really. If Mr. Niederhoffer thinks trend following...

.... and the surf comes back! He says: The premise of the book is fatally flawed. Yet, he "highly recommends" the book (to others, of course). Hmmmmm. Now, why would one do that? Thoughts surf? Enjoying this comedy; don't want it to stop!

Brilliant @Frederick Foresight!! :) :) Would be interesting to see how surf comes back on this one..... it is just comical!

@jas_in_hbca: I will have to agree that Taylor is a very hard read. I will also agree with Ms. Raschke that 'understanding' Taylor is 'worth the time'. Should you decide to re-read his work in the future, please remember this: His 3-day model is a trading strategy. He, himself, has said...

@JTrades and @Redneck: Isn't the word "information" specific to a context? In other words, in my opinion, the word "information" can only be applicable within one's model/framework. So, at no point can "information" be ignored. However, one man's "information" is another man's "noise"! Another...

@jas_in_hbca: Looks like your trading is going in the right direction. Congrats. The above quote caught my eyes, and wanted to share my thoughts. But, at the same time, I was very hesitant to write this post 'cos sharing my thoughts would mean revealing details of how I trade, which I do not...

@Redneck: If by "piss poor plan" you mean a trading plan which does not show positive expectancy, then I will have to respectively disagree with your statement -- No amount of 'sound' psychology can overcome deficiency in one's trading methodology. If that is not your definition of "piss poor...

Jim Rogers: "technicians making a living selling ideas; I have never personally met a rich technician before who made his fortune from trading." Marty Schwartz: "I always laugh at people who say, I’ve never met a rich technician. I love that! It is such an arrogant, nonsensical response. I used...

Or should we call it a "Disaster"! :eek:

@Redneck: The restaurant was in London! Out of limits for a Texan? :) -Monoid.

correction @marketsurfer. Price Action folks believe that their entries provide the lowest risk possible for a given setup/pattern. Very different from what you have stated -- no one in the right frame of mind trading the market will believe that entries provide a greater odds of success. I...

My dear @marketsurfer: If you don't believe that [what you said above], then you should not be trading period -- does not matter if its is System Trading or Price Action. What you said you find difficult to believe is the premise for speculation -- be it Quant based pair trading based on...

No harm done. Agree with you that "thats what makes market work". Now stop preaching! Regards, Monoid.

@marketsurfer: Thank you for you kind words. I will try to answer your questions to the best of my abilities. Answering your second question: Reasoned or unreasoned, the expected value of random entries is (and will always be) zero. This is a basic tenant of probability theory and no money...

@marketsurfer: Do you understand what price action traders do? In all seriousness you would not keep repeating your gospel if you do understand. I have developed automated systems (which is still deployed at a CTA), and for my individual account, I trade manually — I see certain advantages...

@k p: You don't need to see charts of trades to believe them. Ask any trader if they have losing trades and everyone will say "yes". I will give you some examples from last couple of weeks to answer your specific concerns (but without charts :)). (1) Apr 30: took 4 trades, was stopped out on...

very clever @fortydraws :) -Monoid.