Surf's Special Situation Journal

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Quote from cornixforex:

OK let it be street signs... What makes you think you interpret them correctly? What if they mean not what you think they do? :)
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Car = technology... a machine... TA = interpretation... the way you would with a sign... You "read" TA but you operate "drive" a car...

I think they're in different categories....

There are defined patterns to TA... You can pick them up from most TA books... So the definitions are already there for you... Why do you think that I didn't interpret the "cup and handle" correctly...?

If you look at the chart above... there's now a "bear flag" forming on the USDJPY... It's a bearish sign... How do you interpret it...?
 
Quote from Tonkadad:


Honestly not having a stop loss IMO, is nothing more than the buy and hold mentality.
Let's see I was bullish on NFLX back in February and bought at $120.00 and being true to my system and not wanting to degrade it's performance I didn't put a stop loss in. Feeling good now.
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You missed the point....I was referring to MECHANICAL stops....like the Chandlier stop, etc. Every position needs to be evaluated for volatility, key price points, price action, as well as your remaining open capital. Also, what type of stop to use is critical. For instance in some trades a trailing stop really sucks, in others, it's perfect. I think it's really difficult to embody all of that into software.
 
Quote from CoolTraderDude:

Car = technology... a machine... TA = interpretation... the way you would with a sign... You "read" TA but you operate "drive" a car...

I think they're in different categories....

There are defined patterns to TA... You can pick them up from most TA books... So the definitions are already there for you...? Why do you think that I didn't interpret the "cup and handle" correctly...?
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I never said you didn't interpret it correctly. I asked what makes you think you interpret them correctly? :)

Looks like the answer is "looked in the books", right?
 
Quote from cornixforex:

I never said you didn't interpret it correctly. I asked what makes you think you interpret them correctly? :)

Looks like the answer is "looked in the books", right?
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Yes...

But I'm not really sure where you're going with this...!?:confused:
 
Quote from CoolTraderDude:

Yes...

But I'm not really sure where you're going with this...!?:confused:
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Thanks. Now where I am going with this:

Let's suppose you read a book on karate. Tricks are shown in color pictures, very clear and in details. You read it. Does it make you karate master immediately as you start to practice those tricks with your sparring partner the next day after reading the book?
 
Quote from CoolTraderDude:

UPDATE ON THE JPY TRADE:

Stopped out at 79.67.... It did get as high as 79.98 before reversing and stopping me out...

Does that prove TA doesn't work...??? No... But we all know that it's completely unreliable... I was up 14 pips at 79.92 or about 1:1 R:R had I taken profit.

The "cup and handle" pattern did breakout but then it completely reversed in the middle of the breakout!
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Did you consider the fact that "doesn't work" and "doesn't work some of the time" are two different concepts? Or how about the fact that your definition of "work" and a professional trader's definition of "work" are quite different.

TA is a tool and risk management is a tool. You can't turn a pile wood into a solid shelter with just a pile of nails and no hammer or with just a hammer and no nails. And the shelter isn't all that sound without a solid foundation holding it in place; it will blow away in the next big storm. The trader's foundation is based on study and planning for how to identify technical patterns and how to determine when they've failed in your chosen time frame.

TA doesn't work without risk management (where to stop being in a position). It absolutely doesn't matter if some cup and handle patterns fail to produce enough price momentum to hit your desired profit target because if you're able to interpret the pattern, you know where to stop holding your position; you know the definition of "pattern failure" in your time frame.

Do you guys really expect particular patterns or indicators to produce your personal desired outcome magically 100% of the time in order to admit this one tool works?
 
Quote from cornixforex:

Thanks. Now where I am going with this:

Let's suppose you read a book on karate. Tricks are shown in color pictures, very clear and in details. You read it. Does it make you karate master immediately as you start to practice those tricks with your sparring partner the next day after reading the book?
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You and NoDoji are hustlers...

Typical answer from the peddlers... My crap works, you just haven't mastered it...! Between marketsurfer and myself we have more market experience than all you guys combined...

We've told you... That crap doesn't work. You think I'm not a TA "master"..? Oh please... Spare us that crap.
 
Quote from NoDoji:

Did you consider the fact that "doesn't work" and "doesn't work some of the time" are two different concepts? Or how about the fact that your definition of "work" and a professional trader's definition of "work" are quite different.

TA is a tool and risk management is a tool. You can't turn a pile wood into a solid shelter with just a pile of nails and no hammer or with just a hammer and no nails. And the shelter isn't all that sound without a solid foundation holding it in place; it will blow away in the next big storm. The trader's foundation is based on study and planning for how to identify technical patterns and how to determine when they've failed in your chosen time frame.

TA doesn't work without risk management (where to stop being in a position). It absolutely doesn't matter if some cup and handle patterns fail to produce enough price momentum to hit your desired profit target because if you're able to interpret the pattern, you know where to stop holding your position; you know the definition of "pattern failure" in your time frame.

Do you guys really expect particular patterns or indicators to produce your personal desired outcome magically 100% of the time in order to admit this one tool works?
More...

BS that doesn't mean anything... I can't make a trade off of this crap...

Here I was thinking that you guys were going to elighten us... BUT.. NO... Just more nonsense and incoherent babbling with useless analogies...
 
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