ES Journal - 2021/2022

Stopping out traders left and right here I'm sure. There's a bid in this market, though. And an upside bias for the day. But probably not the day to get greedy on the long side. I'd be happy with 66.
 
When it comes to TL's I have two words - Tom DeMark. His technique is mechanical, reproducible, not arbitrary but is rules based, including qualifiers when to trade them and when to fade them.
 
Me think the market just wants a green day, as long as it is green to break the five day losing streak, it is a thanksgiving level all over again, nothing significant.

Just got 7 points this morning on the long green bar, no trading since.

BTW, new issued 4 week T bill rate is the lowest in a month, knowing the fed will hike 50bps next week, the market is rotating to safety anyway.
 
SunTrader said:
When it comes to TL's I have two words - Tom DeMark. His technique is mechanical, reproducible, not arbitrary but is rules based, including qualifiers when to trade them and when to fade them.
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If it were that simple, everyone would be raking in money, since his materials are in public domain. Or have I missed something?
 
vanzandt said:
Just a reminder...

There are 3 distinct aspects of getting lucky.
1) Touch (The subtle hand on the knee or perhaps a drunken kiss)
2) Bar Closes (time to call Uber)
3) Penetration (sometimes called 'the shag')

For many, the bar closing carries the most odds of accepting a broader weight analysis.
And of course, if one bar closes and it not produce the adage "the girls all look prettier at closing time", an after hours club might be applicable.
In all cases, it is important to consider visual width and dim lighting placement, reality does not always match the precision of actual sunlight and the associated hangover.

Party On.
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@vanzandt has been swigging eggnog and smoking mistletoe!


Laissez Faire said:
Generally, for me, it's not a precision tool. In a way, a trend line/channel is nothing but a measured move. I prefer to use them only as a supporting parameter and when it can be drawn cleanly and fairly accurate.

It can be a hard science, though. Just define rules for how they're drawn. The problem with that is that those rules can really limit you and you'll run into many edge cases. At least in my experience.

But I'm still learning and certainly don't have all the answers. I think it's a major tool in tiddly's toolbox and I'm sure he knows how to use them.
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Fact is, no matter what trendline method, and regardless of who developed it,
the line is just a line on YOUR screen. Nothing more, nothing less.
It is 100% dependent on the user of the line to bring meaning or not.
A line on YOUR screen is just a line on YOUR screen.

Eggnog, mistletoe... and lines!
 
schizo said:
If it were that simple, everyone would be raking in money, since his materials are in public domain. Or have I missed something?
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That can be said about many of his (any other trader) techniques. I've been trading TD Sequential profitable for 20+ years. And I'm surely not the only one.
 
schizo said:
Sorry, but explanation ain't my thing. You just wait and see what happens. :cool:
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Damn, Schitzy, you get your own theme song tonight! Hot damn, that is in the affirmative of your direction! Yes sir!


May fortune favor the foolish into the PPI print!
 
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