Support and resistance Question...

Man.....I shore do wish I was smart enough to understand all this!?! (Trading ain't NEARLY this complicated.....Uh, if that's what y'all are talking about.):cool:
 
Quote from BSAM:

Man.....I shore do wish I was smart enough to understand all this!?! (Trading ain't NEARLY this complicated.....Uh, if that's what y'all are talking about.):cool:
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100% with you on this one. confused about trendlines...Trendlines! makes you want to talk about elliot wave and gann analysis for lighter fare.
 
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Quote from BSAM:

Man.....I shore do wish I was smart enough to understand all this!?! (Trading ain't NEARLY this complicated.....Uh, if that's what y'all are talking about.)
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Quote from Osman, the person from TradingScience, an advertiser:

100% with you on this one. confused about trendlines...Trendlines! makes you want to talk about elliot wave and gann analysis for lighter fare.

I posted some Q's for anyone to consider after dbphoenix posted the "mess" in this thread.

After your posted try at the answers, I posted a viewpoint to fill in some thoughts on what you answered. Your answers are on a novice/intermediate level and convey where it is possible for anyone to get to if they are very casual as is dbphoenix.

It is not a good idea for anyone to consider trading if they do not have to thrust of interest in "being prepared".

You have become an example for ET as you corroberate being in the kind of place where BSAM is.

As an Employee or representative of an advertiser who is posting upcoming workshops in NYC, it would be well for you to consider how you expose to others the level you are operating on. It is similar to that recently played out on the other new advertiser who sponsors the Technical thread.

I searched out the words under your name: tradingscience. Since all this stuff on the 21MAY is way off the mark as you and BSAM contribute along the same lines as dbphoenix and Nitro the guardians, what does Tradingscience espouse as a proper technique and what is it's corresponding money velocity.

My money velocity target for this stuff is 3 times the H/L daily range.

I do not expect a detailed response. and the web site I went to isn't a possible response.

The questions I asked were not tricky questions. Their intention as is this request, is to get is to get past the casual crap that you and dbphoenix and BSAM have posted so far.

What I post gives a lot of people headaches. For them, what I profer is not a good idea. The market has all kinds of people. You are presumed to be a pro. I am just an amateur and not in your league.
 
I mistakenly thought that the forum with the new advertiser was Technical.

It is not; it is Carreer forum and the new advertisor is Daytrader etc. There was a Q&A thread vis a vis DayTrader that was closed.

I am equating this Osman posting with that Q&A. He seems to be a pro from Tradingscience. They seem to be proferring training along the Larry Williams modus where trendlines are apparently out of their ballpark.
 
Quote from Grob109:

The questions I asked were not tricky questions. Their intention as is this request, is to get is to get past the casual crap that you and dbphoenix and BSAM have posted so far.
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Last night I finally figured out why Jack resents my thread so much.

You have a free ride, Jack. Say whatever you like. Doesn't make the slightest bit of difference.
 
Quote from Grob109:

What I get out of posting is not going to be understood in ET.

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Though I'm much younger than yourself, if I was to venture a guess, I'd say it's the same reason that some people who've reached high success get involved in more philanthropic activities as they move on in life, whether it's entrepreneurs, musicians, actors, etc. When you've focused your life solely on your own personal success, and achieved that point where money no longer matters, what's the next task? I can see how it would be gratifying and gives one's life more meaning to help other people, with a similar drive you had for your own career. From your efforts on ET and tidbits about other activities you're involved in, it seems you have many ways of contributing to the world. Or maybe I'm way off, LOL, just thinking out loud here.

Thanks for all your posts, by the way. When I saw the volume of info and charts in this thread I cancelled my plans for today. :) You've answered about 10 questions I've had. Another one popped up though.

You broke down the volume ranges for each pace for DU, slow, medium, fast, and extreme. You mentioned that DU is 2500 or less, and slow is 4,500 to 6,000. Also, you mentioned that fast is 10k to 12.5k, and extreme starts at 20. Can you assign the volume from 2,500-4,500, and 12,500-20k, to one of the market pace's? What would say 3,500 or 14,000 be regarded as? I ask because on my chart software (Ensign) I can color code bars according to volume. It's just a visual indicator that might help as I'm new to analyzing market pace. I'm not too good with PRV yet either (I seem to be glued to the price chart and lose track of time when I'm in a trade), so I will try a 5 MA of volume on a 1 min chart and see if that helps.
 
Jack, I had one other question that came from seeing more of your charts. You say you use MACD, stochastic, and there's a 3rd indicator on your charts. You said recently that market pace, channels and spikes should nail all trades. I have almost no experience with MACD and stoch though. I spent most of my time with indicators studying CCI, which I don't use anymore. How important are MACD/stoch to your trading decisions? Can one easily do without?
 
Quote from Grob109:

I am equating this Osman posting with that Q&A. He seems to be a pro from Tradingscience. They seem to be proferring training along the Larry Williams modus where trendlines are apparently out of their ballpark.

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Quote from BSAM:

Man.....I shore do wish I was smart enough to understand all this!?! (Trading ain't NEARLY this complicated.....Uh, if that's what y'all are talking about.)
--------------------------------------------------------------------------------


Quote from Osman, the person from TradingScience, an advertiser:

100% with you on this one. confused about trendlines...Trendlines! makes you want to talk about elliot wave and gann analysis for lighter fare.

I posted some Q's for anyone to consider after dbphoenix posted the "mess" in this thread.

After your posted try at the answers, I posted a viewpoint to fill in some thoughts on what you answered. Your answers are on a novice/intermediate level and convey where it is possible for anyone to get to if they are very casual as is dbphoenix.

It is not a good idea for anyone to consider trading if they do not have to thrust of interest in "being prepared".

You have become an example for ET as you corroberate being in the kind of place where BSAM is.

As an Employee or representative of an advertiser who is posting upcoming workshops in NYC, it would be well for you to consider how you expose to others the level you are operating on. It is similar to that recently played out on the other new advertiser who sponsors the Technical thread.

I searched out the words under your name: tradingscience. Since all this stuff on the 21MAY is way off the mark as you and BSAM contribute along the same lines as dbphoenix and Nitro the guardians, what does Tradingscience espouse as a proper technique and what is it's corresponding money velocity.
More...


1) In no way did i mean disrespect to Grob's methodology, posts or character, and no where did I refer to your charts as a mess. The furthest i went is saying that for me personally there was too much going on for me to day trade. The part where i talk about elliot wave and gann was only a crack at humor, not disrespect. If you had an issue with what i wrote, please PM me instead of carrying it over to the forum.

2) the post where i agreed with BSAM, was with the same intention that BSAM had in that we were getting much out of your posts but that it was over our heads. I've found that you use terminology and phrases unfamiliar with me and that your prose is difficult to work through. Probably because you work in Columbia University and I've only had a undergrad degree, we operate in different intelligence levels. Thats fine. But i stand behind anything i say and admit when I am wrong.

3) to ' have to thrust of interest in "being prepared" ' does not mean that everyone has to have the same interests that you do or at a level that you may take it. To me trendlines are a great visual aide, yet just another tool in the toolbelt, it is not the primary basis of my trading plan. That said, I answered questions posed with my 'novie/intermediate level' understanding. My trading is very basic, simple from the bottom up. I short resistance and buy support. My answers to most posts are simple, because most right answers are usually simple.

My definition of being prepared is to know my trading plan, know what i've got to do every single trading day and have setups to trade at that day.

I believe in KISS.

4) I am a TradingScience mentee and a very minor part of TradingScience's operation. I do not have any capacity as an instructor above showing how the market works on an operational level and teaching how level 1 and 2 works.

My fulltime job is daytrading equities.

TradingScience has helped my career immensely and I do promote it as a proud student who believes in their process.

My trading style is not 100% TradingScience, I have incorporated everything that made sense to me and my own twists. You give a system to a room full of students and weeks later you will have a room full of different systems; this is what happened here.

5) There is no answer to your question about my income expectations (money velocity) because i do not come in to any trading day, week or month with profit expectations.

Goal #1 Trade to Trade well.

Magically, my bills get paid.

6) Most posters on ET contribute to the forum's depth with their unique views and strategies, like you. I greatly appreciate yours and many others' posts in ET. But singling out dbphoenix, BSAM and Nitro in a lesser light is wrong. Ability to disagree is what drives these forums.
 
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