Denise Shull Says Tape Reading Art is Real and Alive

Quote from marketsurfer:

When I say TA, I'm talking about chart reading, patterns and making decisions based upon the chart and price/volume patterns. Isn't this style if TA what you and your successful friends practice? I never heard nod:ji say she reads the book or DOM-- or Jack H post anything other than price charts. Stop changing and diverting the topic. I have made this very clear many times.
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I don't tweak TA term as you just did. When I say TA i say TA (using market data to make trading decision). I use charts, volume, volume delta, DOM... everything. Also use fundamentals to certain degree, but don't include them here, cause it's not TA.

So who of us is diverting the topic? :p

As for my question: what are pre-trade kinds of market data besides order book and fundamentals?
 
Just give up, Cornix.

The heart of the matter is that marketsurfer wants to be special and takes great pride in telling people he does not use technical analysis, when he in fact does.

I don't think he got the answer he hoped for from Brett. Suddenly his new stance was that technical analysis was viable for generating hypotheses, but not conclusions. Now he admits that his only quarrel is with charts and not data. Again, charts are visual representation of data, but he seems to ignore that obvious connection.

Quite frankly this is beyond embarrasing.
 
Quote from Laissez Faire:

Just give up, Cornix.

The heart of the matter is that marketsurfer wants to be special and takes great pride in telling people he does not use technical analysis, when he in fact does.

I don't think he got the answer he hoped for from Brett. Suddenly his new stance was that technical analysis was viable for generating hypotheses, but not conclusions. Now he admits that his only quarrel is with charts and not data. Again, charts are visual representation of data, but he seems to ignore that obvious connection.

Quite frankly this is beyond embarrasing.
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Yes LF, you're right. But I find Surf's words deluding for people who may read him and have an impression that trading is something only few who have access to some extraordinary resources can do and that generally trading is the game of "big guys" only, totally impossible to win for retail person. Which is obviously not true. Hence the argument. :)
 
Quote from marketsurfer:

no worries, man. I am use to being the dumbest guy in the room. ALL my friends are either PhD's, hedge fund honchos,and/ or really really wealthy. heck, even ms. surf has a finance PhD.

So, I am use to being dumb even at home in the kitchen!

surf
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Like I said earlier, I'm the dumbest and least experienced guy in the room. Even in my own bed. Noise traders are clearly informed and are consistently profitable. I'm use to being dumb, please noise traders keep the info flowing...





As one of the threads on elite states: do you believe in forex?

LOL!



:D
 
Problem, Surf, is that you believe exactly the opposite. That you are one of adepts who possess the "real knowledge" and everyone else is just amateur knowing nothing about trading. :)
 
Quote from river:


If the open is "long" tomorrow what is the reason to wait for 12 to 30 seconds and what, exactly, are you waiting/watching for? Why not just enter at 9:30:01?
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Quote from jack hershey:

I feel that being a little late in an opening trend is like the scribble and erase tasks I asked Mr. Nate to do. I do not like the tinges of the CW emotions in my space.
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I, too, would like to avoid the tinges of the CW emotions as I transition from entering at Point 3 of a channel as my first trade of the day to entering on bar 1. Hence my original question.

After giving your answer a fair amount of thought, I still don’t know what to make of it. Entering at 9:30:01 in the direction of the “carry over” from the previous day generally gives time to wash, if necessary, but doesn’t eliminate the CW emotions at all. Volume doesn’t appear to give a clue-- in the first 30 seconds of bar 1 volume (PRV) will be substantially higher than bars 80 and 81 of the previous day regardless of the context. Are you watching changes in the rate of change of PRV? Are you waiting for the extreme of bar 81 to be taken out in the direction of your “carry over” before entering? What if the other extreme is taken out first? What if….? What if…? What if ….?

I’m not asking for a complex decision tree of how you enter at the open or anything like that, I’m just hoping you choose to elaborate on your thought process here for these 12 to 30 seconds on bar 1 before you enter the first trade of the day.

-river
 
As promised, another pretty chart for the surfdoodle.

Did you see the continuation of the FBO from yesterday at the open?

What do you think about my prediction? Are you gonna wait until after the day is done to see if it was "right" or "wrong"? Did you see the volume fall off sharply after the heavy volume the first hour? If you get your calc out instead of just sitting and waiting, you can see that the PRV is coming in LESS than yesterday's

What does this mean for the FBO continuing? It won't without INCREASING volume.

Zoom in and see that the intraday is a lateral (FBP) after the initial move at the open. If you had the owner's manual, you would be alerted to the irregularity of today's AM.

What does all this mean? There is no more money to be made on the FBO from yesterday! The interday sentiment is still long despite the daily bar falling back inside the horizontal channel and the fanned RTL.

The market is in centering. Look that up in the owner's manual. It says only one thing follows centering. Keep up with the PRV.

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When you are ready to move beyond magical thinking, charting the past, and whatever that stuff is posted above with the secret words, pretty pictures and circular logic--- its time to


Be interested in the "name" behind the thread-- Denise Shull's work--- you can find it here:

http://www.marketmindgames.net

Good stuff!

surf


Denise Shull’s gem of a book is long overdue. I just wish that Alan Greenspan, Ben Bernanke and Henry Paulson had read this book instead of Ayn Rand’s Atlas Shrugged or Milton Friedman’s Free to Choose.
I was trained as both a neoclassical economist and classical philosopher, however, in recent years I have turned into a behavioral and neuroeconomist. This has led me to recognize the primacy of emotions and the unconscious over rationality in all decisions, both life decisions and economic decisions. So I say, “right on” to Denise. Her book has made the ability to analyze and overcome our unconscious biases and prejudices available to everyone.

Dr. Donald T. Wargo, Department of Economics, Temple University
Denise Shull’s Market Mind Games is iconoclastic to say the very least! Whether you are seasoned financial professional or a novice this book is easily read and will change your perspective on how to approach and think about the markets and your life!

Michael J. Levas, Founder, Senior Managing Principal & Director of Trading, Olympian Capital Management, LLC
Denise changes the way you look at yourself and investing. The insights and methods contained are necessary to succeed in the markets, period.
Backed by extensive real-world research, Denise Shull in Market Mind Games offers a new school of trading psychology. -Truly an important work that needs to be on the book shelf of every serious market participant.

Mike Bellafiore, Author, One Good Trade
Masterful explanation of not only why emotionless trading is a myth, but how we can take advantage of our natural wiring to gain an edge.

Derek Hernquist, Chief Investment Officer, Integrative Capital LLC
Denise’s book details how emotional overlays developed from our childhood, for example: being made to feel you are not smart enough, can unconsciously block your trading decisions. In a storytelling manner that is enjoyable to read Denise takes you through a process of uncovering your emotional patterns. She details ways to learn how you "feel" before you "act" so that your buy, sell or hold decisions become more successful.
 
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