Charts Patterns are not correct

Quote from BSAM:

Trend, you seem real intelligent. Do you believe that people can't make money trading off a chart?
More...

Just so I am not assuming anything...can you clarify the exact meaning to you of 'trading off a chart'? Been around for a while...and definitions and terms are not universal.
 
Quote from Trend Following:

Just so I am not assuming anything...can you clarify the exact meaning to you of 'trading off a chart'? Been around for a while...and definitions and terms are not universal.
More...

Looking at the chart of an instrument to make buy or sell decisions.
 
For clean charts I suggest rolling your own from scratch in excel with closing or last prices only. I use a REDI+ addin and check closing/last sales with yahoo for a double check next day.

Its not for the lazy though. I have 10 issues with several time frames that I adjust every morning manually. Takes me 30 mins just to get proper color for the days setups. However, the manual process gets in your blood. I cant foresee a days trading without watching those levels move as I add and remove data.

Its much more organic than simply turning your software on imo. And after a few months you are truly one with your data and numbers.

Also less noise without candles, ohlc..etc is a plus for some people.
 
Quote from BSAM:

Looking at the chart of an instrument to make buy or sell decisions.
More...

Are you predicting what happens next when you look at a chart?

Trend following doesn't do that.
 
Quote from Trend Following:

No apologies for the research done on this end, who I have been exposed to for the last 15 years, or providing research and education to clients - a range of clients from very large funds to new traders starting out.

If any of the cycle/prediction folks were serious (or credible) we would all sit down and tape a debate. Real people, real names and in a real room (not the digital fake land) with a real audience and the focus would be on content -- not just personal attacks. None of the cycle/prediction characters will dare take me up on that.
More...


Its a deal Mike. I for one know that chartists do well. So well as to want to stay under the rocks where they dwell. So I am out from under my rock and we will have that debate. I will begin to feed you data from my own findings over time. Who knows, maybe I could learn something.
 
Quote from Trend Following:

Are you predicting what happens next when you look at a chart?

Trend followers don't do that.
More...

Yes. Do it all the time.

So, may I assume that you don't believe that people can predict a profitable trade via use of a chart?

Please answer yes, no, or state that you prefer not to say.
 
Quote from marketsurfer:

Great, please use an actual tradable instrument that follows the index-- since the index itself cant' be traded. SPY, ES, or whatever. Remember to post the entries as you make them or before and the exits. Looking forward to your journal!!
More...

I do not trade the ES, I trade the Euro, and like you I will not give away precise details, but the index will do more than enuf to show that trends exist and can be used.

I will give numbers where I would go long, and where my stops would be. Money management is of course, classified.
 
Quote from marketsurfer:

I'm confused, RCG. You stated the S&P 500, hence my suggestion to use an actual tradable instrument so your entries and exits can be tracked. The Euro is good also, what do you trade the spot or the futures? Once again, please list your entry either in real time or as close as possible and the exit. I dont' need to know the WHY, just want to watch a chartist at work, in real time without being subjected back dated charts marking entries.
More...

You shall have that Surf. I use several timeframes to trade the Euro. I will not and cannot post all of that. The SnP will suffice that a chartist can identify an probable entry and exit based on trends, or hindsight data. That is what this is all about right? Any stocks will do also, would you rather I use GOOG?
 
Quote from BSAM:

Yes. Do it all the time.

So, may I assume that you don't believe that people can predict a profitable trade via use of a chart?

Please answer yes, no, or state that you prefer not to say.
More...

Prediction does not work.

Not my opinion alone, but a view passed down over the years (backed by much substance and data) from some of the most profitable traders of the last 40 years. Real people. Real names. Nothing generic or anonymous.

Further, the question of success is a slippery slop when the primary focus is on entry. There are 5 critical issues mentioned earlier -- and entry is at the bottom of the list.
 
Quote from Trend Following:

Prediction does not work.

Not my opinion alone, but a view passed down over the years (backed by much substance and data) from some of the most profitable traders of the last 40 years. Real people. Real names. Nothing generic or anonymous.

Further, the question of success is a slippery slop when the primary focus is on entry. There are 5 critical issues mentioned earlier -- and entry is at the bottom of the list.
More...

1. Oh my.

2. When you put on a trade, if you put on trades, you are making a prediction.

3. Have fun little brother.
 
You must log in or register to reply here.
Back
Top