Marty Schwartz
- Thread starter martys
- Start date
All indicators based on price and volume is clearly lagging if you watch them unfold intraday. Whether they work or not depends on whether there will be follow thru or trend. Few traders including Marty watch the waves at the beach. I notice it stop at the shore line when there is no more water to propagate it. You need crowd emotion to fulfill the indicator prophesy.
What do you mean? Market displays fractal behavior and iterative function (stuffing the result back into the formula iteratively to generate a series of number) generates fractals. I found "THE" iterative function that would take a past price and calculate a future price. I will sell it for $10000. Just kidding!
I can't keep my big mouth shut. I have never met Mark personally but I am pretty sure Mark is a great trader. There are various versions of his intraday TICK strategies (see the back of Pit Bull) out there. The idea is to fade (going against) the move when the NYSE TICK (number of stocks ticking up vs. number of stocks ticking down) goes to extreme level because the buying or selling pressure has to return to normal level. But you can get burned by fading a strong move because even though the buying or selling pressure did "eventually" return to normal level, but the price did not retreat far enough and then proceed to continue the trend. If you invest into other people's strategy, you must spend the time to learn it in entirety and paper trade it to see if it fits your risk parameters and personality. I know people said paper trading is not the same. But if you can't make money paper trading, you probably will lose money in real time.
Anyway if anyone wants to play Mark Cook's TICK strategies, maybe it is a good idea to pay him a visit.
I agree... I am still having relapses from time to time. I think my brain is not treating the monetary loss same as pain as in touching the hot stove. Maybe my head thinks protecting my ego is more important (miswired). Now I just try to remember what happened. Anyway I don't want to turn this into Mark Douglas' crap (never read his book but tried to listen to his tapes and still haven't finish them - hope he can help someone else)...
Mark Fisher (author of The Logical Trader) said it - he is running an insane asylum (his trading firm).
I notice your signature: avoid painful forced awareness - accept reality now. What does it mean...? I am a failed Buddhist turned day-trading junkie. If I remember, good meditation requires both awareness and acceptance, i.e. do not try to make your meditating mind better but simply rest in the recognition of the innate natural awareness. Of course forced (manipulated and not relaxed or natural) painful awareness sounds bad. ZZZZ