Ghost of If You Can Draw A Straight Line

[dbphoenix]

Quote from dbphoenix:

Even though niko posted a graph of the trend channel (sixth post of the day), I did not. I've wanted to keep this as simple and focused as possible for the time being, and the trend channel seemed to be a bit much at this time. Nor have I addressed how to trade reversals here. Nonetheless, I did "call" the short on the Bride thread, and I hope someone was attentive enough to take advantage of it.

Be that as it may, I did not call it on this thread, so there is no trade posted here for today after the first short at 0500, which was, as noted earlier, a loser.

Today, on the other hand, I posted the trade before the NY open, so the count is now 7 winners and 2 losers for a winrate of 78%.

 

[tradingjournals]

Quote from dbphoenix:

Today, on the other hand, I posted the trade before the NY open, so the count is now 7 winners and 2 losers for a winrate of 78%.

Notice that in some threads it is said trading is about RR and not about winrate, but here it is about winrate!

 

[Gringo]

Quote from dbphoenix:

Today, on the other hand, I posted the trade before the NY open, so the count is now 7 winners and 2 losers for a winrate of 78%.

Don't you get too excited. Not too far in the future there there will be another person asking you to provide proof of live calls, otherwise you'll be considered a fake. It ends up going back to the same place. Hopefully with these calls there will be a chance to at least direct those naysayers to this thread.

Gringo

 

[dbphoenix]

Quote from Gringo:

Don't you get too excited. Not too far in the future there there will be another person asking you to provide proof of live calls, otherwise you'll be considered a fake. It ends up going back to the same place. Hopefully with these calls there will be a chance to at least direct those naysayers to this thread.

Gringo

It doesn't bother me. There's tons of this stuff in these threads if only they'd look it up. But they don't really care. They're just ticked because somebody is making money and it isn't they.

Look at today, for example. Plenty of guessing but not a single trading plan. And they wonder why they keep losing.

Go figure.

 

[cmb]

Quote from tradingjournals:

Notice that in some threads it is said trading is about RR and not about winrate, but here it is about winrate!

Well win rate and RR take care of themselves. I think if the win rate was 50%, one would still have a nice profit ratio.

 

[slugar]

Quote from Gringo:

Don't you get too excited. Not too far in the future there there will be another person asking you to provide proof of live calls, otherwise you'll be considered a fake. It ends up going back to the same place. Hopefully with these calls there will be a chance to at least direct those naysayers to this thread.

Gringo

who cares what others think! it's never bothered me!

 

[dbphoenix]

An unexpected test of the high. While I'd like to have earned the extra 20pts, I can at least imagine that somebody in Europe got it since it broke out at 0300. Italy maybe?

This will be an interesting day.

 

[niko]

Seems like buyers are taking a break at the same levels of late december, we are now at the recently fanned demand line.

Lets see if this line holds or if we have another run down.

 

[dbphoenix]

Quote from niko:

Seems like buyers are taking a break at the same levels of late december, we are now at the recently fanned demand line.

Lets see if this line holds or if we have another run down.

AMT suggests a reversal, or at least a return to the mean, particularly since we're hitting the upper trendline again*. But, unlike S&D, AMT is just a theory, not a law. It's based on behavior, but it's still just a theory.

*There are a couple of trendlines here that are pertinent. One is the long-term TL, and price is actually just above it. Literally. The other is the short-term TL which tracks the diminishing strength of demand. See the double charts I posted the day before yesterday for a graphic.

 

[niko]

Quote from dbphoenix:

AMT suggests a reversal, or at least a return to the mean, particularly since we're hitting the upper trendline again*. But, unlike S&D, AMT is just a theory, not a law. It's based on behavior, but it's still just a theory.

*There are a couple of trendlines here that are pertinent. One is the long-term TL, and price is actually just above it. Literally. The other is the short-term TL which tracks the diminishing strength of demand. See the double charts I posted the day before yesterday for a graphic.

I will give it a look, thanks.