Have you used dbphoenix's teachings to become a successful trader?

[dbphoenix]

I am among the curious ones....what are these teachings? And,they bring about success? Interesting.

To begin, Wyckoff's course. If that requires some translation, then you can look over a primer I wrote last year. Whether or not any of this brings about success depends on the individual and whether or not he puts together a thoroughly-tested trading plan. It's clear from this thread that those who've read and studied the material are successful with it. Those who haven't, aren't. Those who think it's nonsense haven't even read it. So, like everything else, even moving average crossovers, it's up to you.

And I'm flattered by the 3000 views

Incidentally, anyone who's interested in following along is welcome to read my current journal. I don't know how much sense it will make to those who haven't read the material, but it may be enlightening nonetheless.

 

[marketsurfer]

You've got to hand it to marketsurfer for making yet another thread about him. Again.

It's a gift.

Last I checked this thread was about the mysterious and controversial dbphoenix, heck its even titled that way. Surf is just a commentator.

 

[dbphoenix]

Last I checked this thread was about the mysterious and controversial dbphoenix, heck its even titled that way. Surf is just a commentator.

In order to provide useful commentary, a competent commentator would make an effort to at least read the material.

 

[Tsing Tao]

Think of it more as DB "leading the horse to water". He can bring you pretty darn close to the watering hole, but its up to you to drink. .

By reading this thread, I have to ask - is there koolaid in that watering hole?

 

[Pigsky]

Looks like the pupil has begun to see how the guru game works..... Hahaha!!!

Sometimes this provides a great trade, like the ones pointed out by the red arrows, so you take credit for these, as if you just bought or sold assuming that price will reject at these levels.

Sometimes price goes through, and then just hovers there (green arrows). It appears to break out, so you might want to go long, but then it fails, so you might want to go short, but that fails too.

Of course when price finally takes off, you will be told that they were already in, and if it fails, they were already out and had switched sides anyway. If you don't know why, it means you haven't observed enough! !

 

[k p]

Looks like the pupil has begun to see how the guru game works..... Hahaha!!!

Wow... everyone here reads like a hawk!

 

[dbphoenix]

What happened to that great photo of the angel and the acolyte? That's the fastest deletion I've ever seen.

 

[k p]

Here are three sincere questions for Db. I don't want to post it in his thread because I doubt I'm welcome there, so I will ask here.

First, you posted this chart in your thread this morning before the open (first attached chart), and AMT would suggest heading lower... at what point would you say that changed as we clearly didn't head lower?

Furthermore, in that same post:

http://www.elitetrader.com/et/index...w-a-straight-line.287955/page-50#post-4085854

you state that the daily downslopping channel is clearly trashed. Often you aren't quick to disregard your channels because you are waiting to see the overbought/oversold conditions. So why today do you abandon the channel so quickly (2nd chart attached)? That last daily bar wouldn't have been so high today when you made that post in the morning obviously, and hence it would have just been a poke above.

Third, a comment was made in the journal today how price reversed at the mean of the overnight range at 19 (which I'm happy to say I saw as well), but you disregarded it. Why disreard it today when yesterday you gave praise when someone answered the question properly about why price reversed there?

http://www.elitetrader.com/et/index...w-a-straight-line.287955/page-51#post-4086058

EDIT: Just attached a third chart to show this REJ at 19

 

[dbphoenix]

Here are three sincere questions for Db. I don't want to post it in his thread because I doubt I'm welcome there, so I will ask here.

First, you posted this chart in your thread this morning before the open (first attached chart), and AMT would suggest heading lower... at what point would you say that changed as we clearly didn't head lower?

Furthermore, in that same post:

http://www.elitetrader.com/et/index...w-a-straight-line.287955/page-50#post-4085854

you state that the daily downslopping channel is clearly trashed. Often you aren't quick to disregard your channels because you are waiting to see the overbought/oversold conditions. So why today do you abandon the channel so quickly (2nd chart attached)? That last daily bar wouldn't have been so high today when you made that post in the morning obviously, and hence it would have just been a poke above.

Third, a comment was made in the journal today how price reversed at the mean of the overnight range at 19 (which I'm happy to say I saw as well), but you disregarded it. Why disreard it today when yesterday you gave praise when someone answered the question properly about why price reversed there?

http://www.elitetrader.com/et/index...w-a-straight-line.287955/page-51#post-4086058

And if you ever go through the process that I and others have suggested, you will be more likely to answer these questions for yourself.

Speaking of which, how's that collection of 100 ranges coming? The statistical data-gathering and analysis that Donna suggested? Any of the work that everybody else suggested? Anything? Nothing?

 

[k p]

And if you ever go through the process that I and others have suggested, you will be more likely to answer these questions for yourself.

Speaking of which, how's that collection of 100 ranges coming? The statistical data-gathering and analysis that Donna suggested? Any of the work that everybody else suggested? Anything? Nothing?

I'm going with an earlier comment you made somewhere in the past week or two about how once you observe enough, you will just know what to do. (I'd look up the post but you post so much it would be impossible for me to find! )

I have absolutely nothing to go on about why certain levels are rejected and why they are penetrated, but then only rejected 5 points later, and then even this rejection gets rejected. If anything, perhaps putting in a sell order right at R, or a buy order right at S and just seeing what happens with a 3 point stop would I'm sure produce much better results than everything I've been doing up till now.