Break-outs and pullbacks

Quote from bluedemon77:

... I have no doubt that he believes what he is saying about changing the world through trading. I'm just not sure his system actually works.

...
More...

oh ok, he is documenting his 'millionaires in 100 days' method for the book so you can wait for it then. I just though some ETer might want to skip the wait and get an early edition but like I said I might be easily excitable. :)
 
Quote from hustler:

Could you please give a little background info on this, what is this? Thanks!
More...

Please, Nkhoi, could you describe what's in the files, I'm on a slow connection and the files were rather large. Thanks!
 
Quote from nkhoi:

oh ok, he is documenting his 'millionaires in 100 days' method for the book so you can wait for it then. I just though some ETer might want to skip the wait and get an early edition but like I said I might be easily excitable. :)
More...

Still downloading it will get there eventually.

To the author of this thread, maybe look at breakouts from resistance or support, reversals around significant price levels etc. Daily highs and lows, intra highs and lows. Watch your market realtime and get some hours under your belt. If you don't do the work you'll get nowhere. This alone will keep you going for months.
 
I find the best breakouts are on strongly trending stocks, news related, with a shallow pullback at the highs/lows. Just before whole numbers are even better.
 
Quote from nkhoi:

oh ok, he is documenting his 'millionaires in 100 days' method for the book so you can wait for it then. I just though some ETer might want to skip the wait and get an early edition but like I said I might be easily excitable. :)
More...

Exciting is not an adequate description for a 1000% return in 100 days if it can be done consistently. But it sounds like a typical infomercial to me--"lose 50 pounds over a weekend!" I'm still waiting to hear from somebody that actually did it. Then, I'll be excited too.
 
Could anyone who has downloaded these movies comment on what they are, since NKhoi does not seem to bother although I 've asked twic, and he was so eager about getting comments on the material..

Presentations? Live trading? What?
Thanks!
 
Quote from hustler:

Could anyone who has downloaded these movies comment on what they are, since NKhoi does not seem to bother although I 've asked twic, and he was so eager about getting comments on the material..

Presentations? Live trading? What?
Thanks!
More...

It's a 1 hour and 50 minute presentation by Jack Hershey that is meant to illustrate how somebody can increase their account size tenfold in 3 months using his trading method. However, it only covers one day of trading where he made some very nice trades. There's a huge leap going from one successful day to doing this EVERY day to get a 1000% return in 3 months. Also, he doesn't explain his method in this, so unless you're already familiar with it, you'll have no idea what he's talking about. If you're interested in that, you'd be better off reading Spydertrader's journals on the subject.
 
Quote from bluedemon77:

It's a 1 hour and 50 minute presentation by Jack Hershey that is meant to illustrate how somebody can increase their account size tenfold in 3 months using his trading method. However, it only covers one day of trading where he made some very nice trades. There's a huge leap going from one successful day to doing this EVERY day to get a 1000% return in 3 months. Also, he doesn't explain his method in this, so unless you're already familiar with it, you'll have no idea what he's talking about. If you're interested in that, you'd be better off reading Spydertrader's journals on the subject.
More...

Thanks for clearing that out bluedemon77!
 
Quote from IronFist:

There was almost a hammer right after the first big red candle. Good thing you didn't enter long there.

And, there was an upside down hammer (shooting star?) right after your point 3. Good thing you didn't short there.

I probably have these candle formations wrong, but that's what they looked like to me.
More...

http://www.elitetrader.com/vb/attachment.php?s=&postid=1331958

Yes, your analysis is wrong.

In fact, what you saw are not Japanese Candlestick patterns.

They are unimportant single candlestick lines.

The reason why they are unimportant is because the prior price action is either ignored or did not support the single candlestick line that produced your analysis.

There are a few decent free resources online and cheap candlestick books to help understand the basic of Japanese Candlestick Analysis (I will mention one free resource here at ET as my last comments in this message).

My point, the fact that you mention your analysis based upon Japanese Candlestick along with saying that's how your seeing this...

Are you taking trades yourself based upon Japanese Candlestick patterns or lines???

If not, why mention it?

By the way, I talk a lot here at ET about the difference between Lines and Patterns.

I also talk about the truths and false info concerning Hammer patterns

http://www.elitetrader.com/vb/showthread.php?s=&threadid=52880

The Trading Hammers (revisited) thread at the above link is stuff Nison and gang failed to mention and stuff you should learn prior to your next Japanese Candlestick analysis or trade via Hammers.

Mark
(a.k.a. NihabaAshi) Japanese Candlestick term
 
You must log in or register to reply here.
Back
Top