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I've got plenty of money. I wouldn't say it came easy, but it came. I'm still trying to figure out what objective measure of intelligence makes you think that you're so smart. You don't seem to realize that you can't just say you're intelligent, other people have to say you're intelligent for...

And yet, despite these "monkeys" running major US corporations, you are not running one. Clearly your superior intelligence should have brought you to the top of a corporate hierarchy by now, no? Oh, wait, right, you don't WANT to run a major corporation and get paid far more than you are worth...

Says you. The Russians already tried this whole "the only thing that guy who's boss has is luck (or tradition or religion) on his side" and tried to replace "management" with "labor". We saw how that worked out. The only question is why are you so stupid as to think it will work this time...

While I'm definitely not the most prolific poster on this thread, I have to say please do not turn this into yet another "here's what I think the market will do if X happens" kind of thread. The entire point of ACD (and price action trading in general) is to REACT to market action, not...

How about the optimum tax rate being the rate which generates sufficient government revenue to pay for whatever benefits the "wealthy" receive from the government? Get a million bucks in government benefits? Then pay a million bucks in tax. Get a few thousands in benefits? Pay a few thousand...

The problem with this approach is that you ignore the whole "division of labor" which has only been the driver of all human progress from the time we were monkeys to today, making it kind of important. If the smarter guy spends time making his own burger when the burger flipper could be doing...

You obviously have a lot to learn about stop placement. You place your stop such that it is the only place where a stop could be correctly placed for that trade. If it gets hit, you know you were wrong.

I agree that he kind of whiffs a bit on stops, aside from the initial exits at points B and D. In my experience, the initial stops can be set the same, but the way you trail stops for longs and shorts needs to be different, so they aren't as symmetrical as the rest of ACD is. The number line...

I think those are all reasonable points, for sure. I just think that price, time and volatility can be arrayed into a trading methodology in a less subjective manner. I think that using ACD will most definitely cut down on the number of mistakes a trader makes by massively cutting down the...

If the only factor enabling the guru's trading strategy to have positive expectancy is being able to sell to his followers at higher prices after having bought before them at lower prices, that's clearly outside the boundaries of the scenario I was drawing up, so your point here doesn't...

I think knee-jerk cynicism about "gurus" giving away their methods is short-sighted (not to mention boring). Let's say I'm a "guru" with a system that I know a bunch of people will follow. All I need to do is watch as the market moves toward triggering a system trade and buy 1 tick below...

I'm about half-way through The Logical Trader now and I have to say that it's a very impressive achievement and I agree that Fisher has met the challenge of his tagline of putting "a method to the madness". I would have liked more data to support some of the elements of the method, but I'm sure...

What does price lag and how does it matter to a trader's P&L? Remember, the only thing that matters is P&L.

That makes sense. I should also note that the "trigger levels" of the parameters in the model were based on an initial hypothesis of what the levels "should" be. The fact that subsequent empirical evidence has shown that the levels where they "should" be weren't, in fact, the optimal levels...

I don't think you need to predict what will happen, you need to know how to react when something does happen. Once the market has moved down to a point where I have a bias to get long on a confirmed price signal (duh, the only way to "buy low" is to buy after a decline, so it's not rocket...

Yes, trades scoring under 30 are performing the same since I noticed that it was a cutoff point between two very different sets of outcomes in real trades. If anything, they're doing a little better than they were before.

Let's say I've got a model which scores a trade set-up from 1 to 100 based on a number of objective factors. Any price action that triggers the set-up is a valid trade signal, but, historically, only trades which score above a 30 are profitable, in aggregate. Not that all trades under 30 fail...

While I have nothing against education whatsoever and have plenty myself, the profitable trading strategy I use didn't require anything beyond some relatively simple math and certainly nothing that would require formal education in finance, engineering or any of the academic disciplines that are...

By the way, I live in Manhattan, so I don't need to ride the train from anywhere. Just the latest essay on the breakdown of the "blue state model" being chronicled by Mead, prompted by the "ticket fixing" scandal going on and a police protest outside a Bronx courtroom. Sounds like a scene out...

Seems to me like it's akin to Elliott Wave International and how Prechter has his subscribers thinking that they're never wrong, the market is wrong. Prechter also spins some convincing BS. In other words, a "cult of personality" exploiting traders who trade for "extra-pecuniary" benefits...