Support and resistance Question...

ProfLogic · May 11, 2004

Quote from BSAM:

Sounds honorable enough. Are you not compensated in any way by logical market trends? You seem to be coming on quite forcefully for someone who registered on 5-11-2004.

Found the site . . . time to tweek brains. Ask me questions I will always give food for thought. I will even direct you on the correct path. I will never give you all the information at once. I would prefer that you figure most of it out for yourself. You will trust what you confirm on your own over someone telling you it is correct. I also have a variation on an old saying, Teach a smart man to fish and in time he will improve on your techniques and kick your butt in a fishing contest. My compensation is in trading and the satisfaction of getting traders to think for themselves. The site charges for its Newsletter and access which works out to about $.80 a trading day per year . . . WOOO WOOO. I'm goin to Disneyworld.

dbphoenix · May 11, 2004

Quote from BSAM:

lilboy.....

Don't mean to be cruel or hurt your feelings, but if you really, really want to make money in the stock market, forget everything you think you know. Study charts for a few years.

Actually, he has a very good handle on it.

The truth of S/R is in the chart, not in something applied to the chart.

dbphoenix · May 11, 2004

Quote from ProfLogic:

BSAM . . . Absolutely nothing . . . I participate in free forums to get traders to start thinking for themselves. I want traders to start looking at the Market without being tainted by other's Methodology. I teach at a college level and get my satisfaction from seeing people use their brains for a change. Trusting themselves and not others conclusions.

I hope it's not English.

BSAM · May 11, 2004

Quote from dbphoenix:

You may want to look at the file I wrote on trendlines. As to an "exhaustive study", I've been using them for 15 years now and have a pretty good idea of what they are and what they are supposed to do.

If you want to believe that TLs provide S/R, nobody can stop you. But that doesn't make it so.

Yep, that seems pretty exhaustive. I still think you have a one dimensional view as to how to construct a trendline. (There is more than one way to draw one.) However, it's not what I think/believe. It's what I see time and again. Trendlines do serve as support and resistance. No doubt about it. This debate (to me) is like debating whether or not we're in the month of May.

Anyways......

Best Regards,

BSAM

BSAM · May 11, 2004

Quote from dbphoenix:

The truth of S/R is in the chart, not in something applied to the chart. [/B]

It can be, depending on one's point of view/approach. There's many good methods of trading. Not just one that dbphoenix would condone or that BSAM would condone.

I have been referencing the other kind. And again, db, "something applied to the chart" does exist.

dbphoenix · May 11, 2004

Quote from BSAM:

Yep, that seems pretty exhaustive. I still think you have a one dimensional view as to how to construct a trendline. (There is more than one way to draw one.) However, it's not what I think/believe. It's what I see time and again. Trendlines do serve as support and resistance. No doubt about it. This debate (to me) is like debating whether or not we're in the month of May.

The purpose of a trendline is to show the trend. If you're drawing it for some other purpose, then I suggest that it's something other than a trendline.

As for the S/R question, perhaps you could provide some examples, at least more than a few incidental ones.

ProfLogic · May 11, 2004

Quote from dbphoenix:

I hope it's not English.

I am new to Elite Trader and must bow to and respect an Elite member of thiis site. I do not make snide remarks to individuals trying to learn something as intense as trading. I can imagine that if the main concern of this site was grammer or spelling they would have named it, "Politically Correct Elite Trader" but alas they didn't.

dbphoenix · May 11, 2004

Quote from ProfLogic:

I am new to Elite Trader and must bow to and respect an Elite member of thiis site. I do not make snide remarks to individuals trying to learn something as intense as trading. I can imagine that if the main concern of this site was grammer or spelling they would have named it, "Politically Correct Elite Trader" but alas they didn't.

Actually, you've been keeping up pretty well with the snide remarks. You'll be ready for Chit Chat any time now.

As for the grammar and spelling, if you teach college, I should think that they'd be second-nature. But apparently I'd be wrong.

BSAM · May 11, 2004

Quote from dbphoenix:

As for the S/R question, perhaps you could provide some examples, at least more than a few incidental ones. [/B]

Quote from BSAM:

I wouldn't give away much, just as I would not expect you to do, either. However, I'll say this: The traditional way of drawing trendlines is not always (although sometimes it is) the best way to construct a trendline. However, again, even the traditional method often can reap profitable results. Sucks to be vague, especially with someone I respect, but.....well, you know.
[/B]

dbphoenix · May 11, 2004

Quote from BSAM:

I wouldn't give away much, just as I would not expect you to do, either. However, I'll say this: The traditional way of drawing trendlines is not always (although sometimes it is) the best way to construct a trendline. However, again, even the traditional method often can reap profitable results. Sucks to be vague, especially with someone I respect, but.....well, you know.

Not the sort of tactic I'd expect. I've given away just about everything I know about PV in my thread and in what I've written. Not that it's any secret. Anybody who wants to do the reading and the chartwork can come to the same conclusions all by himself.

But if you're now going to suggest that you have some secret method of drawing trendlines that yields superior results, then this has all been a considerable waste of time.

And people wonder how post counts get so big.