Do Trendlines work?

Trend Lines work as well as the yellow lines encompassing the white lines on a highway. They look nice but are worthless by themselves. If you can't see price trending on a price chart you are in the wrong field to make money.
 
Quote from Charlie Dow:

Trend Lines work as well as the yellow lines encompassing the white lines on a highway. They look nice but are worthless by themselves. If you can't see price trending on a price chart you are in the wrong field to make money.
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Not to be a jerk but was that your idea of a contribution?
 
Quote from John Merchant:

The seven rules are conditions which slowly build up, like an orgasm, until you have to either take the trade or get blue balls. Mike.
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:D :D :D

LOL! That's one of the funniest metaphors I have read on ET. Its a "keeper".
 
Quote from Charlie Dow:

Trend Lines work as well as the yellow lines encompassing the white lines on a highway. They look nice but are worthless by themselves. If you can't see price trending on a price chart you are in the wrong field to make money.
More...


Id hate to be driving on a highway that didnt have those lines.:)
 
Egal. Thanks. I find that the greatest boon to my trading is my sexual perversity. When I watch my one second and one minute charts evolve, at critical points I involuntarily dry out "Wooo Hooo!" The market is one big screwing on all time frames. How could it be otherwise? I like what Jack calls "rockets" the best of all. "Ah jist ain't take another one!" "Oh, yes, you can!" Mike.
 
OK, Merchant u get some brownie points for this insanely perverse system. Alas, you failed to mentioned anything about stoploss? :eek:



Quote from John Merchant:

Oh, Sunny, you are still a system piggie. One day you will learn that other people's systems will not work for YOU! That is because working systems are so bizarre and counterintuitive that you can't believe them. It is very much like sex, where you have to have the insight and courage to dominate a ball-buster. As I recall them, here are the rules:

1. NQ
2. The current contract (haha! don't think of that as a rule, do you)?
3. 11:30 to 1:00 EST.
4. price is in a 2-4 tick consolidation
5. has been for at least ten minutes
6. volume is less than 5 cars per second
7. oil moved up or down by at least 50 cents during the NQ consolidation
8. NQ moved not at all in response
9. NQ moves by at least two ticks in the direction oil went
10. trade 1 car in opposite to that direction
11. Have the balls to stick with it for at least ten minutes
12. Count your blessings if you make four tick and hook 'em.
13. Otherwise get out after 20 minutes.
14. I am sure I forgot some.
15. Oh, yes, the market must be open.
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:eek: :eek:
 
Quote from tradersaavy:

Trendline for breakout

Trendline for profit target


See attached YM 5m chart
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TS-- I had a very similar trade today, except my entry was a buy stop at 31 since if you look back over the past week the R was up to 30.

Pete
 
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