To continue my tirade, when you read here, and I shall not name names, that you need to find some market parameter which leads price, know that the writer has not the wit to understand what price is doing NOW. He fancies that he needs lead time to get himself accustomed to the reality of the situation. If further he says to you that you need something to confirm price, he is in fact telling you that Price is his Medusa, and that he cannot bear to look directly at it out of intense fear. He needs to see price in a mirror to slay it, as did Odysseus. You know who you are.
A Gift to Hershey Futures Traders
- Thread starter Joe Doaks
- Start date
from The Usual Suspects
"Keyser Söze was truly born, however, when rival smugglers working for the Hungarian Mafia invaded his house while he was away, raping his wife, and holding his children hostage, killing one of them when Söze arrived to show him they were serious. They then threatened to kill his wife and remaining children if he did not surrender his business to them. Rather than give in to their demands, he shot and killed his family and all but one of the Hungarians, whom he spared knowing that the survivor would tell the mafia gang what he was planning to do. After burying his family, Söze went after the Mob, killing dozens of people, including the mobstersâ families, friends, and even people who owed them money, as well as destroying their homes and businesses. He then âwent undergroundâ, never again doing business in person and remaining invisible even to his henchmen, who almost never knew who they were working for."
Keyser Söze
I have attached a chart of Friday as I saw it. If you wish to, please point out the areas of confusion. Or, if you have a properly annotated chart that you would like to use as a reference for those areas which created confusion for you, please post it and people can get a discussion going. Who knows, Jack and Spyder may even show up and provide some guidance and clarity to the concepts which you are struggling with.
What this is about, Jtnet, to extend the classical analogy, is that ET is to you as the Sirens were to Homeric mariners. Brokers coo to you of great profits to be made. Chatrooms promise wealth through collective action with the guru. Data vendors tout fantastically complex analysis tools. Attention whores post ambiguous systems to get you to stroke their egos. ET members are the proverbial thousand monkeys with typewriters. Fill your ears with wax!
I cannot comment on Pre-market trading, as I do not trade pre-market. Perhaps someone else familiar with the basic principles of Price and Volume can comment on those specific times. Do you have any areas during RTH in which you perceived whipsaw action?
The chart I posted was the chart I annotated on Friday. There are many charts in the Iterative Refinement thread which are annotated and posted in real-time, and recently, many of the charts are posted in a very timely manner to indicate to the community where areas of CHANGE are occurring. A brief study of these particular postings will uncover the fact that it is volume (correctly annotated using Gaussians) which signal the upcoming change in price.
Best wishes in your trading
1. Thank you for the thoughtful gift. I can honestly say few people would think to provide a .jpg as a birthday gift. Much appreciated.
2. Can you post the entire day?
3. Do you plan to toss about the code which created the colors, or did Hypostomus render such things proprietary?
- Spydertrader