Denise Shull Says Tape Reading Art is Real and Alive

Quote from jack hershey:

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.
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I see you are in the QQQ's
 
Quote from river:

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?

Exactly. Very cool contribution.

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?

LOL.... rather go for 9:25:12...... seriously, brokers can still be spilling coffee on the IBD's and WSJ's. If you boutique trade and have permission to use the desk, then it is a messy time. This means you are setting your commiss's and bones, etc... (coattail pressure causes talk time when you want to OBSERVE....) As surf says, he is the dumbest in the room.... but if you are not the dumbest....

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.

I have the dasboard set, etc........ but .....lol......

Sad to say, my most frequent dashboard lock ups are on open..

-river
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Quote from themickey:

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?
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This is getting pretty cool.

All of trading is about.... what else ..... making money.

So every second then every minute, then every event an expert is taking the market's offer.

Expert traders know that you have to be in the market to make money. Read "One Shot One Kill" (out of print and double the new price, used). Jon Netto is not a writer, he is an expert trader.

Tharpe is a work in process. He has gotten to hypothesizing. So he is explaining how all NOW information can be hyp'ed about. This is what "knowing you know" means as a replacement for BETTING you know.

BETTING YOU KNOW is sucky. That is how famous people make a NET of 20 to 25% a year. Also, they do risk and DD's.

As you say, predicting the future is a bullshitty myth.

The alternative is to have a defined system whereby you know you know all of the events of the operation of the market.

Time is replaced as a variable. What replaces it are events.

All of the kinds of events have names.

If you program in some platforms, you already know what happens after you do a "save" for the definition of an EVENT. A box appears telling you to type a NAME. f you use long names, you can't link them with operators after a while because the "wrapping" of 50 or more characters could be verboten.

"wrapping" is done with gizmos that face each oher and are not alpha-numeric. Here are some: ( ) , [ ], { }.

Besides HOLDING analysis, there is WAIT analysis. you can be WAITING inside a HOLD. Knowing this is knowledge. Doing it by naming these events is a skill.

Learning to learn is a skill, too.

You are thinking. This means you can meet the present challenge your mind has raised.

You are cuious about having to quit predicting and trading by BETTING. This is a BIG deal. You are leaving the emotional world of anxiety, fear, and anger all below the neck.

It may be possible for you to get into the cognitive where long term memory is built using the PERCEPTION EQUATION.

The lengthy task of naming all the possible events is at hand. There are only a finite number of names.

I keep them in libraries and export them to people. These people import them and then use them.

You are quitting predicting.

You are quitting betting.

Also Hoping is something that automatically disappears. Their is no hope for you any longer.

All you do is have events hppen in the present.

They are wonderful since they follow an order as a trend moves forward. Notice there are Wait events in trends when trends are not moving forward. (Don't Tell Covell and his like kind).

As you think from now on and go forward, you get very very rich.

This is your triple fork in the road.

You quit using pitch forks.

All your CW OODA "wrongs" some think will "evaporate or even vaporize.

Ignore vaporizes ET members.

Good luck. Mr Nate got screwed by not doing drills. Begin to do naming drills for all the events in trends.
 
Nah, I don't see any benefit for me. Thanks for the invite though, captain. :)

Quote from marketsurfer:

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! :D
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Quote from marketsurfer:

Do you work for a broker? This seems like its directly out of the " how to extract max vig" broker handbook. Ok, Johnny, each trade has a random outcome but keep on trading ( and burning thru commissions) eventually the trades will lien toward profit.
Geeeez!!!
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No I don't. Never in my life worked for anyone, but myself. And live trades I showed you, were using two different brokers. Time will come I may show you something else, like regulated, exchange traded instrument.... if I want to... :p

Now as for my last questions (you probably overlooked them):

1) What is "breadth" applied to the market?

2) When Dr. Brett said "volume" did he mean past volume (trades already occurred), correct?
 
Quote from marketsurfer:

Dude! thats from 5 years ago! I was a TA true believer for years also--just look at my early posts here-- Gann and everything! We all eventually evolve out of the "chart mind" and look back and laugh at how naive we were. Some folks just keep on losing, particularly if they have another source of income or wealth from a business or whatever....others learn how the market really works and discard childish things like charts when trading.

I can't speak for Dr, Brett, but I do speak to him directly, lets just say we are in agreement regarding TA and its use in trading. I also believe the gist of his statement posted earlier says all you need to know about where he is in his education as a market player.

surf
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So 5 years ago TA worked, but not anymore? Come on, Surf! :D
 
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