Writing a book with "stats" by looking at the charts is pointless. I can draw many trendlines that dont work at all to make the stats becomes a total loser kind.
Does trendline work?
- Thread starter GloriaBrown
- Start date
Writing a book with "stats" by looking at the charts is pointless. I can draw many trendlines that dont work at all to make the stats becomes a total loser kind.
Yes it's a problem Gloria, even science is hardly scientific.
" . . .It is no secret that science has come under increasingly derisive attacks in recent years. There are those who view science as being inconsistent, untrustworthy, and even unethical. . . examining what can be done to combat bad science and how good science can be encouraged and promoted.
https://www.sciencemag.org/custom-publishing/webinars/fighting-fake-science-barriers-and-solutions
Ms Gloria, I don't mean to pry, and it's certainly none of my business, please pardon me for asking, - Have you investigated other trading methods beside trendlines?
What if you were to look thoroughly into the topic of Position Sizing Strategies available to the trader?
With your tenacious nature little doubt exists that you will master that and any trade entry methods will perhaps be viewed in a new perspective.
" . . .It is no secret that science has come under increasingly derisive attacks in recent years. There are those who view science as being inconsistent, untrustworthy, and even unethical. . . examining what can be done to combat bad science and how good science can be encouraged and promoted.
https://www.sciencemag.org/custom-publishing/webinars/fighting-fake-science-barriers-and-solutions
Ms Gloria, I don't mean to pry, and it's certainly none of my business, please pardon me for asking, - Have you investigated other trading methods beside trendlines?
What if you were to look thoroughly into the topic of Position Sizing Strategies available to the trader?
With your tenacious nature little doubt exists that you will master that and any trade entry methods will perhaps be viewed in a new perspective.
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I can understand you unconditionally love TA, but I only care stuff that works. I dont draw staight lines on charts and then pray.
What a strange reply, ms gloria brown
recall, my first response was that trendline is a tale.
re: my post to which you replied,
two items.
1, my opinion is that position sizing is paramount to effective trading.
2, with no trade entry method, there is no trade.
TA is not the only way to decide specifically at which moment to put some money to work in the market, and when to exit the market. You could look at the stars, look at fundamentals, flip a coin, ask your mom, whatever, and still the main ingredient imho is position sizing methodology.
can you dig it?
I bet a dime to a donut that there are several traders in this site that could be put into ten trades based on ten coin flips at random times. Heads buy entry, Tails sell entry. And they do just fine after all ten trades are summed up. They are seasoned vets that know how to handle lots of scenarios.
the trader that i learned some building blocks of trading from specifically addressed what he called "hope mode".
His thinking which i agree with is that if your are hoping for a trade to do this or that, you are wasting time and should strongly consider exiting the trade at that point because your plan is not firmly in place.
Hope mode leads to "curse word here"-it mode. That leads to revenge trading, leads to stupid expensive trading, ... you get the picture.
as for praying for a particular outcome for a trade, i can honestly say; that, i've never done. frankly, the thought had never crossed my mind. what a quaint idea. does it work? have you ever put a trade on ms gloria? if so, how did you broach the tipping point from "i'm gonna place that trade" to "i did place that trade"? it's perfectly fine if you've never placed a trade. pleasant patience and due dilligence is not a bad way to start.
cheers
recall, my first response was that trendline is a tale.
re: my post to which you replied,
two items.
1, my opinion is that position sizing is paramount to effective trading.
2, with no trade entry method, there is no trade.
TA is not the only way to decide specifically at which moment to put some money to work in the market, and when to exit the market. You could look at the stars, look at fundamentals, flip a coin, ask your mom, whatever, and still the main ingredient imho is position sizing methodology.
can you dig it?
I bet a dime to a donut that there are several traders in this site that could be put into ten trades based on ten coin flips at random times. Heads buy entry, Tails sell entry. And they do just fine after all ten trades are summed up. They are seasoned vets that know how to handle lots of scenarios.
the trader that i learned some building blocks of trading from specifically addressed what he called "hope mode".
His thinking which i agree with is that if your are hoping for a trade to do this or that, you are wasting time and should strongly consider exiting the trade at that point because your plan is not firmly in place.
Hope mode leads to "curse word here"-it mode. That leads to revenge trading, leads to stupid expensive trading, ... you get the picture.
as for praying for a particular outcome for a trade, i can honestly say; that, i've never done. frankly, the thought had never crossed my mind. what a quaint idea. does it work? have you ever put a trade on ms gloria? if so, how did you broach the tipping point from "i'm gonna place that trade" to "i did place that trade"? it's perfectly fine if you've never placed a trade. pleasant patience and due dilligence is not a bad way to start.
cheers
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I haven't seen anyone use *only* trendlines to trade successfully. (But that obviously doesn't mean that such traders don't exist.) Have seen many traders use trendlines as part of their overall approach -- some of the traders are successful, many are not. But that can't be taken as proof that trendlines themselves "don't work" (in the case of the unsuccessful traders) or "do work" (in the case of the unsuccessful traders). Most traders fail, for a variety of reasons.
Because most traders I've seen don't solely rely on trendlines in a vacuum, there's no way to prove that they work or don't work. Used *properly*, and as one tool/filter in an overall approach, trendlines can have value imo.
Viewing any single tool or indicator as a magic bullet/Holy Grail that either "works" or "doesn't work," and demanding proof of same, seems counterproductive and maybe even fruitless. Are you looking for something like that?
Some traders use trend lines because they represent potential areas of support and resistance. Do they always provide S/R, of course not but it is the job of a trader to determine if their use provides an edge....what time frames, drawn through what points etc.. That takes work and most quit before the fog clears and like to believe that tools don't "work". It doesn't matter whether trend lines, indicators, daily pivots, point and figure, kagi bars, Fibonacci, Gann, Elliott, Planetary Harmonics or any damn thing is used....what matters is can you develop a viable trade plan around any edge supplied by your tool(s).
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mr s-trader, sir.
first of all, Please feel free to respond with a plain ol' "hey easymon, put a cork in it, pal."
That would be no problemo. no harm no foul.
i like the cut of your jib, so im stepping out on a limb here to ask you a somewhat less than diplomatic question.
Of interest to me would be traders that spend less than two days in any trade.
optimal time, and of primary interest to me would be for trades lasting entry to exit for a duration of minutes = .1 to 100 minutes. That'd be 6 seconds to an hour, rarely two hours.
Now for my rude question:
Have you seen anyone use *anything* to trade successfully?
Timeframe?
Method(s)?
Poduct: futures, stocks, options?
Got my cork right here.
Best Wishes either way you answer.
No hard feelings.
We have no problems here.
cheers