Quote from DTK:
Thanks for the chart Grob109. I've saved it and will bring it up when I am either drunk or high so that I better enjoy the kaleidoscope that you've got going there. But hey, if it works for you, it works for you. I'm not going to $hit on someone's method if it works for him/her. More power to you if you can make it happen.
Not that DBP has directly placed any money right in my pocket (actually, his stubborn refusal to give any strategy or methodology pointers is amazing), his posts and the files he has shared have drastically improved my thinking and my P&L (& I'm no newbie to the game). I would hardly consider what he has on his hands to be a mess. How can it be? It's just a way to consider the price / volume relationship. All the other aspects of placing the trade are left to the individual.
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Quote from Grob109:
Once you have drawn all the channels, you will find that you do not have a "mess" on your hands as does dbphoenix.
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I added a few quickie notes.
I made the chart attachment at the request of David. David is used to my charts, I believe.
It is not likely that anyone is going to want to do what I do. were a person to have traded through the day and then looked at my chart, he may have found out several helpful things. were I to put these items on a list according to the biggest to smallest, from the money making pint of view, I would make the list below.
I am glad you have gotten some ideas to add to your quiver from DBphoenix. That is nice for you.
My caution is related to what no one should add to their efforts. If a person is a trader, he works practically by comparing his method to that method he has under consideration. you cannot do that with the dbphoenix stuff for the reasons that you have pointed out and which confirm all others who realize the absence of anything in that realm.
I only work in the practical money making realm on the other hand. What I do is nonsense and from a fried brain for 4 out of 5 persons as determined by polls, etc. My stuff does not work by backtesting where reseults covering the same time period vary by an order of magnitude. The most frequent poster on ET says I have 200 aliases and what I do is snake oil by his measure. It is not possible for me to have any credibility by any measure here as you can see.
It is being pointed out that no one who uses anything I suggest makes any money.
From my viewpoint the dbphoenix stuff is a "mess". That is, I have written, from my viewpoint in response to questions I raised, what I specifically find wanting in his cavalier post.
If you soberly look at what I mean by the channel and carry over from yesterday and do it yourself for 100 charts, you will get what I am talking about.
Here is the list of priority ranked thoughts anf feelings that can come of getting to a place that is the result of thinking and working for a few hours:
1. You get the feeling that the price is not going to "fall off the side of the earth".
2. You get the feeling that there are four levels of channels all operating within one another and the outer ones just happen to set correctly all the limits of the smaller more frequen lesser duration othr ones.
3. you can figure out where things are going to end and approximately when by using straight lines in a simple unchanging manner a head of he price movement that fills in the envelopes.
4. You get the feeling that things move rather slowly and steadily and make money most of the time through vertical price movement in a "left" to "right" context.
5. Channels "work" and you can trust them once you have done the "work".
The next 20 you grow to "know" are more detailed.
I posted the 20 questions that each person goes through writing up to get to expert for any method they choose to develop and follow. A way to do the writeup is to cut and paste.
