reading charts basics
- Thread starter mute9003
- Start date
No. It's just a fancy title with fancy cover. The book has NOTHING to do with "measured move" or "high frequency trading". It's just another one of them gimmicky Trading 101 books that only skims the basics of trading, with all the benefit of hindsight analysis, of course.
I've used the Livermore quote in response to OP's insistence that he must know "why" price does this and that. I don't think Livermore would even endorse this book.
you dont need to know how engine operates to drive a car.
Yes if you are an average driver,
But to be exceptional you do need to understand how entire car operates
Thats why f1 drivers and rally drivers are exceptional.
The dont call it understanding they say "i feel the car"
Which is exactly what everyone at the top of their field says.
Yes if you are an average driver,
But to be exceptional you do need to understand how entire car operates
Thats why f1 drivers and rally drivers are exceptional.
The dont call it understanding they say "i feel the car"
Which is exactly what everyone at the top of their field says.
In it's simplest form it's an auction. You either want to buy or sell an asset. If you want to buy an item you have to bid against everyone else who wants to buy that item. If you want to sell an item you become the auctioneer or sell the item to the auctioneer.
The price of the item moves based on supply and demand.
Insiders can manipulate the way the auction goes by hiding supply and demand.
The charts you are trying so hard to read tell you what has happened. You can gauge supply and demand by watching how the price and volume move.
What is it about that you found so enlightening about this book?
First, why is the author misleading the readers about "Measured move"? Measured move is not Fib retracement! But that's what he pretends it is. If you don't know what measured move is, then that's your problem.
Second, where in the book does he ever discuss anything important about HFT or Quant? None that I've found.
I've only found the most BASIC rules regarding entry and exit. This might be useful for beginner traders, but it's a complete rubbish for those whose been trading for nearly 30 years.
If you want to discuss this book more in detail, I'm all ears. Just point me the way showing me exactly where you find I'm wrong. I'll be happy to engage in a meaningful dialog, page by page if you so desire.
Jeezus, this statement alone tells me you have no fucking idea how to use a measured move. So don't pretend that you do.
Fibs and MMs are not the same!
Okay, whatever. You do whatever you want. I'll continue trading the same way as I've always done. End of the story. Just don't shove your shit in my face again.