Gut or TA

Quote from prox:

TA and pattern recognition ..

Trading off gut has no consistency unless you've been at this for a decade.
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I am one of those systematic discretionary traders... I get a bunch of signals and my gut (aka experience) tells me which ones to take... if I didnt filter out any of the signals using gut, then I would be rightly classified as a systems trader instead of a discretionary trader... in my opinion, anyone who doesnt take all of their signals is a discretionary trader...
 
i would have to consider dbphoenix one of the most insightful individuals around..... wish i had left my chair and done that several times,. can't imagine how much money i would have saved!!!
 
for a phone clerk job in the PTJ order room

and also was interviewed by RD

too bad I never fully learned the turtle rules

or ACD by fisher but I am trying to catch up now

as the book is out and the rules are out too

I am still confused by the momentum analysis

is it like the speedometer approach I once saw

in a traders website who showed the SPOOS

in a dial like a fighter pilots or speedometer dial?
 
i have to make a correction. mr. gnome has to be one of the more enlightened individuals i've ran across in a long time! i will leave my chair at once the next time.:)
 
jai,

thank you for the explanation and compliment. yes, i have been trading since 1990, see my masters interview on innerworth.com or my site www.marketsurfer.com under "dave's wave" tab. your posts really add to the quality of this site, thanks !!!

best,

surfer:cool:
 
Quote from marketsurfer:

jai,

thank you for the explanation and compliment. yes, i have been trading since 1990, see my masters interview on innerworth.com or my site www.marketsurfer.com under "dave's wave" tab. your posts really add to the quality of this site, thanks !!!

best,

surfer:cool:
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There are some "phrases and buzzwords" that only decade-old traders I have run in circles with will know and remember. Congrats again, you've earned your stripes. I'll continue posting replies on subjects of depth and meaning. "If you want knowledge and success, you give it." Many have taught me many things over the years, and I enjoy giving back. Im glad you appreciate my posts here, hope they benefit many.

It's 9:28am here, "surf's up"... :p
 
Quote from gnome:



I have only 2 pieces of wisdom on trading... this happens to be one:
Whenever you get a "gut" feeling about a trade, get out of your chair and go to the nearest door. Bang you head HARD against the jam until the gut feeling goes away.
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Interesting. My gut has made me money/saved me money more often that not. Just yesterday I bought the SPY at 99.45 waiting for big blue to report. At around 4.20 my gut told me to take profits at 99.86...looked at the chart and the TA said "UpUpandAwayweGo".....sold the SPY....IBM reported....They sold everything aftermkt. Whats works for some will kill others I suppose.
 
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