Denise Shull Says Tape Reading Art is Real and Alive

[marketsurfer]

Quote from R. Raskolnikov:

So LMFAO!!

Happy Holidays Brother!

Happy Holidays to you too man! hopefully you get up the nerve to attend the surf fest this year---- i have been told I am a really nice guy in real life-( particularly to chart reading TAers) - and there just may be some folks there you should meet. - don't be afraid!

 

[marketsurfer]

Quote from icarus618:

Surfdaddy, we have a FBO on the chart. Did you see the volume coming in?

Since you like predictions, I'll make one for tomorrow: Tomorrow's volume will exceed today's. I know what you're thinking: you can't make money off that prediction.

I'll post a chart later.

I appreciate your prediction--- lets see what happens~!

 

[jem]

surf...

let me pose a question to you...
Do some hedge funds trade profitably using stats?

Can stats not be shown using Charts.

Hence a series of hypotheses... for each chart...This happened frequently enough in the past...I am willing to bet it will happen frequently enough in the future.

Now charts... could be relative strength charts.
Reversion to the mean charts.
Intermarket analysis charts.
Breakout
Fade

Whatever is happening... right now. You can use them for data mining for to find strategies which are working right now... (hint I know what I am talking about when it comes to funds and this subject).

T/A covers just about anything but unreported and well hidden insider trading.

I can tell you that if some funds make their money by vol pumping a group of good traders or good systems...I could make a chart of that using equity curves.

So please the idea that T/A does not work is really the same as saying the only way your buddies create alpha is by cheating.

 

[jack hershey]

carry over for tomorrow.

The open is long tomorrow.

Go in long between 12 and 30 seconds of the open.

This comment is the result of a system in operation.

It is TA based. TA does not include prediction.

Intraday traders who trade near "all in" (I trade @94% of margined capital) so I have to exit prior to bar 78 where the day magin stops and the nite margin begins.

This means I continue my money making again on the open. Since I was in a trend that is continuing when I went flat, on the open I take up my position again when the day margin is then in effect.

The ratio of day to nite is 1:2 in margin requirements. This is an example of market owners and egulators and brockers concluding that it is, for CW folks, twice as "risky" at nite compared to day "risk".

For those who have been able to see markets in operation for a while, you can remembe when the margin last changed.

 

[icarus618]

Quote from icarus618:

* * *
I'll post a chart later.

 

[jack hershey]

Quote from icarus618:

thanks.

I had 11 trades today.

One lengthy lateral.

 

[river]

Quote from jack hershey:

carry over for tomorrow.

The open is long tomorrow.

Go in long between 12 and 30 seconds of the open.

Nice "anticipation" for this morning's (Wed) opening trade.

For tomorrow, after going long where would you place your bookmark? At the low of today's bar 80? Elsewhere?

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?

-river

 

[themickey]

Quote from Laissez Faire:

"In finance, technical analysis is a security analysis discipline used for forecasting the direction of prices through the study of past market data, primarily price and volume."

Quote from marketsurfer:

....although I do believe that past price really never had much predictive ability-- even less now than ever...

The first statement 'quoted' by Laissez Faire is incorrect and the second statement by Surf is correct.
The correct use of T/A "SHOULD NOT BE!!!!!" about predicting price movement.
So if it's not about predicting what else can it be?

 

[icarus618]

Quote from jack hershey:

thanks.

I had 11 trades today.

One lengthy lateral.

I had it lateral until PM, then ES and YM broke out about the same time. Yup, a light day for me on the ES. I swing the Qs as well, if you're wondering about the charts.

 

[jack hershey]

Quote from icarus618:

I had it lateral until PM, then ES and YM broke out about the same time. Yup, a light day for me on the ES. I swing the Qs as well, if you're wondering about the charts.

I was glad to see that the role of hypotheses was mentioned today.

It is an interesting stage of trader development to measure.

Not all people get to have the theory and then skills to do hypothesisization.

Fewer still go past this intermediate trader stage. It is measurable when "reading" folks. As we saw, Tharpe is still in that stage and not far into it at all.

Before DOW Theory, the market thinkers had wrapped up the HS. I like the measures of "completeness" that the thinkers introduced as the provisos.

The beauty of the requirements of markets measures in systems is so intreguing. This is another way to observe the status of a potential trader in the intermediate skill range.

If a person cannot get to or face dealing with HS theory, then he can never get to PM''s of markets.

Most people who have financial contractual responsibilities, get to a place where they have problems before they leave to take up another "job" or different paying skill set.

Years ago there was some discussion about various people who made the trip into, through and out of the FI. I have two fav's since my path entwined with theirs until they left the trading world.