ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Well, I would like to make a mission statement, so nobody missunderstands my goals:
I want to demonstrate that the markets are not random and it is possible to predict them with a high success ratio. Not for everyone and not all the time. Repetitious patterns emerge regularly and one can take advantage of them. The same patterns and rules work across different markets and different timeframes.
I also believe in the Keep It Simple Stupid (KISS) principle thus less charts, ideas, monitors one uses, the better. There is no need for overcomplicating things.
An example:
OK, it is 4 days today but we just had a 774 LOD....
I want to demonstrate that the markets are not random and it is possible to predict them with a high success ratio. Not for everyone and not all the time. Repetitious patterns emerge regularly and one can take advantage of them. The same patterns and rules work across different markets and different timeframes.
I also believe in the Keep It Simple Stupid (KISS) principle thus less charts, ideas, monitors one uses, the better. There is no need for overcomplicating things.
An example:
OK, it is 4 days today but we just had a 774 LOD....
In downturns, bullish divergences are still tradeable, but in general they are only good for bounces. Of course, one of them will always turn out to be the real thing, but which one? --It's better to trade with the trend and bypass the bottom fishing until the trend reverse. Does it lag? Certainly, but who cares?
pekelo
triple 7's looking good
Now if I can just wake the t day crew and get them up around 10:30
triple 7's looking good
Now if I can just wake the t day crew and get them up around 10:30
SO WHICH IS IT COUNTERTREND OR NOT ?
You have shown multiple examples of both in the journal.
Nice bounce off the 52-wk low. Just cashed in my shorts, now I can buy some new boxers.
Success!
Success!
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