Support and resistance Question...
- Thread starter Kastro_316
- Start date
Quote from dbphoenix:
ROTFLMAO!!!
I love this chart!! This is a keeper!! What a great example of a fried mind.
When I get around to the next Trendlines file, this is a definite inclusion.
With all due respect db -- I drew nearly EXACTLY THE SAME
chart that grob109 drew and I drew this in complete isolation
from him... we are different by only a handful of minor lines. I
have the IT blue line as well as most of the minor (purple)
trendlines.
Perhaps It looks like a mess because the lines are not labeled
and mostly all the same color.
This is not a mess it is very methodical! If it wasn't I would have
something completely different.
JT
Well I honestly believe that you are simply venting emotion here
(which is not constructive -but hey)... you know as well as
anyone that people don't talk performance on ET - I don't care
what method you use. I was simply providing argument to your
"product of a fried brain remark"
A heliotrope is a plant that tracks the sun (like a sunflower).
JT
I stay on the 5 min bars to have a feeling of a process.
People here often trade on 1 min. I copied the 20 some pages of Hypo tests Jack to do a co,plete workup on hypo. two things happened as I spred out the sheets in a work area. I wanted to tie together about 50 comments that were salient and constructive. When I went back on line the next am the thrad had added several pages of OT so I dropped it. For a while I had imagined a person wanted to do something towards being really wealthy. My mistake.
Imagine for a moment that you are on a rich and abiding fractal that for 10 contracts is pumping money into your account. You can "see" the lines easily by then. I draw because I have the feeling of "s l o w m o t i o n"
Right now the person next to me is "in" and jumping ship as he put it at 13:41:02. He is logging now.
This is where the prior "carry over ended" with the slower channel ending. The channel that began at 12:30 yesterday (20MAY04). Day trading is done inside these channels.
So we are doing the first pm channel now and he left on the 2 pair and up coming spike. It was 2 bars of "fast pace". Before and after it is DU.
You may have read my prior post where I shared my plan for the pm 2 trends. I made what is referred to here as a "simple" statement based up on the 4 levels of channels that bound my money making.
What appeals to me about markets after 47 years is that they have always been doing the same thing. If I am lecturing at a B school I am in a place where I am addressing non trading stuff. If I were getting something ready for the Friday 5:00 helicopter at EOP it would be clear, concise and crisp for decision making.
ET is a place where many people can be helped out. It is not a good idea for most people to read my stuff. As you can read, it makes people angry as they judge me and how I do what I do to others who are not getting the job done.
When I vent emotion, you'll know it. Trust me.
And as for talking performance, who cares? My point is that anyone can draw these lines in hindsight. After all, there's hardly anything new about trend channels. Trading them is another matter entirely, particularly intraday, and apparently none of you can do it.
I should also point out that I was done with all this long ago. I really don't give a damn what Jack does or how he does it. Nor do I care whether anybody makes any money off of whatever it is that he's talking about.
But Jack has insisted on taking every opportunity to spread his opinion that my thread is worthless and has no substance. Maybe he's upset by how many views it's received or by how many people have benefitted from it.
But if he's going to continue to provoke these exchanges, then he's going to have to expect some response. It isn't as though he has anything to gain from them. Every time he posts something, he just makes himself look worse.