The Foresight Thread
- Thread starter dbphoenix
- Start date
ES down 30 handles at its most recent low since you posted the warning 12 hours ago. But since you provided no exact short entry, stop loss, and profit target, nor did you provide lunch and an open bar during happy hour, you will get no credit from those who do not understand what was shown this morning in your chart.
I still say "Nicely done!"
I've given up on threads here. Start with the SLA/AMT. If you have any questions, you're welcome to ask them at TL. Or if you're the fun-loving sort, try the Trouble With Scribbles thread here.
2058 at time of that post and chart
Now trading at 2044
Here is accurate foresight:
Best forget about it. He has been posting all over the Internet for the better part of 20 years. You could waste a year reading all his writings and still be no further forward.
Realistically nobody is going to give out the answers in this business to anonymous strangers.
The thread title here is amusing. Foresight. Except what we have is someone boxing the market in with his own interpretation of ranges and trend-lines and the delusion that these lines constitute accurate foresight. There are no entries and targets given, so we can't see how far these hypothetical positions went offside, the risk profile, or what return is achieved. And there is little to "understand" from the posts because DB himself doesn't understand - so no hidden gems to uncover. It is like a broken clock - right twice per day.
I sent the gold trade by PM earlier today to a successful trader who expressed an interest in receiving an occasional swing trade from me.
Note posted at time of entry, with clear target. Knowledge of why market would likely get to that target. Not a trendline the day before followed by "I told you so".
I did one in public a few months back to prove a point. There are a few others in my posting history. I am not always right. And I scaled out of my position several times on the way to 1200 so made less than 18 points per contract traded today. But the knowledge to anticipate the move is there, which is in my view what is required - being ahead of the crowd and positioned to already own what they will want or need.
Truth is DB can't do this, and the few people who can aren't wasting a lot of time posting on Internet trading boards. I hate to see newbies suckered in by frauds. Though people will pay the price for nativity and laziness in any competitive environment.
http://www.elitetrader.com/et/index...re-are-only-turns.289297/page-13#post-4080970
(here was my last call - there are occasional others in post history for those who can be bothered - but those who do research aren't the ones likely to be sucked in by DB et al anyways)
Last edited: