Quote from ammo:
hersh,have you applied this to daily ,weekly charts
I started out very slowly and just tore off the last page of the WSJ.
I used wingtip nuts on screws which held a quarter's worth of pages between lathe like trim wood (1/4 x 2 's).
To annotate, first I filled in an 11x17 sheet which had 6 months of daily grids for price and volume. 17 dollar range on price in 8th's.
As years went by I added charts and glued the sheets together.
One bedroom of a four bedroom house in Greenwich Rockridge neighborhood was devoted to this effort. I had an architect's drawing board to work on and storage racks for older quarters.
This was all daily beginning in the late 50's.
My first sports Mercedes was in '60 which I picked up in Kopenhagen. I was into sailing by '62 and bought a King's Cruiser (US 122) at that time on a two year loan 100% secured by stocks I was trading in street name.
This was position trading based on daily charts. I did 10% in 6 to 8 days where 10% was half a normal long cycle move.
Later I got into SSR trading where the hold was about 4 1/2 weeks. I still used daily plotted bars but a week was like a day in PVT trading. I rolled surplus money into SSR from PVT.
read the bio on W, J O'Niel as a similar example. OR read a parallel story entitled How I Made 1 Million dollars by a professional dancer. He was box trading in the late 50's and early 60's.
The fact is that in those days about everyone who used TA was getting rich fast. BUT there was universal criticism of us by the traditional types.
I stated with 300 bucks in '57 and by '60 I ws doing MB sports cars and by 62 was cruising all summer in LI sound and Block Island sound.
By '66 I was living in suburbs of Zurich, SW. Before Greenwich, I summered in Europe every year.
Nothing has changed in trading except information is abundant and we now have PC's.
I lucked out by getting profitable doing hand drawn charts at a time when few paid that kind of attention to making money.
Making money has one huge factor. You compound profits and then just take out big chunks or use your portfolio to collateralize anything you want.
The weapon of choice is your differentiated mind.
by beginning with a binary vector orientation, I simply used the 10 cases for a foundation and never considered any betting orientation ever.
When you do NOT bet and you know you know, in terms of CW, you are operating in an unbelievable place.
Futures were only "insurance" instruments a while back. So it was possible to reapply the same paradigm to growiing pools and just take out all the market offered.
No one who makes a lot of money, keeps it. Why bother? The other thing is that you do not have to spend anytime to make a lot of money.
A full time trader is a person who can't trade very well so he just works at it all day long doing stupid betting.
Today, most ET members are doing betting. They do not make money and they can't follow what it is like to build the mind.
Nicely, I become unbelieveable to this set of people.
The pattern is gibberish to them, even though I give it to them.
I tracked the inventions in the marketplace from 1790 to 1957 when I stated. It is three pages long. My applications turn out to be one pagers, each.
I was laughing the other day when I read a whiner response to the "crayola zig zag test". People are actually mentally blocked from doing a test to find out the market's daily offer.
Trading the observable on the 5 min turns out to be 20 to 40 trades a day. I will post on my next post how to judge on a chart when to do each trade to achieve each trading goal.
