The Hindsight Thread.

[dbphoenix]

I am here trying to find out how you define a breakout confirmation around S/R levels, a simple basic technical question, and I cannot get that little bit from you.

Because you haven't listened to anything I've said.

Hope you enjoy continued success.

 

[Autodidact]

Because you haven't listened to anything I've said.

Hope you enjoy continued success.

I don't need to, I just wanted to prove a point. You see I knew you would not give me a straight answer even before I approached you. In fact, I told a good friend of mine, look how he will evade it.

The truth of the matter is without this answer your method is more incomplete than most religious prophecies out there.

 

[fortydraws]

Is a tick s/r line violation considered a breakout in your case ?

yes, a "violation" of R is a breakout. That's how a breakout is defined.

If it's a tick above/below determined S/R, "tick fakes" will destroy you. Trader Vic 2Bs will absolutely crush you and if you keep reversing and a range form, unless you have limited number of losses (even if you using proper stops), they will hurt.

Which is why I said that you have to decide for yourself how many ticks past R you want to see price move before you enter.

I am here trying to find out how you define a breakout confirmation around S/R levels, a simple basic technical question, and I cannot get that little bit from you.

What difference does it make how I define it since the confirmation of a breakout will be different for each trader depending on his risk tolerance?

All I can say is that anyone who actually trades based on price as it is taught by Wyckoff, Livermore, Schabacker, Raschke, Sperandeo, O'Neil et. al. can understand exactly what DbPhoenix is saying and why he is saying it. If you do not understand the difference between a breakout and defining the conditions under which you, the individual trader responsible to you and you alone will risk agaist that breakout, then you have no business trading. If you don't follow the thread of reasoning in the quotes above, then you have not done the very least that is required to follow what DbPhoenix is talking about - which is to read his SLA/AMT pdf. It is free. It will take a person of average intelligence little time to at least read the text, study the charts, and familiarize yourself with the terms retrace, range, breakout, reversal as well as the all important "dog didn't bark" set up. Frankly, beyond that he has no obligation to answer to anyone, much less someone who demands all answers but doesn't even know how to frame the questions.

So many fucking idiots think that DbPhoenix made this shit up. For crying out loud, if you don't like DbPhoenix, that's fine. I'm sure he'll still somehow sleep tonight. But don't act like this is some strange formless nebulous voodoo. This is how professionals (except for the "pros" in marketsurfer's circles) trade. Do you think institutions moving 1000's of ES contracts between the bells are playing with their MACD's and making sure they line up across twenty-three out twenty-five bar intervals? C'mon. I'll say it again, you would not find a real successful trader - a Raschke, a Sperandeo, Schwartz asking these questions. In fact, they would likely read DbPhoenix's pdf and say, "well, duh, of course that's how it works ... tell us something we don't know."

 

[dbphoenix]

I don't need to, I just wanted to prove a point. You see I knew you would not give me a straight answer even before I approached you. In fact, I told a good friend of mine, look how he will evade it.

The truth of the matter is without this answer your method is more incomplete than most religious prophecies out there.

It's incomplete until the individual trader determines what for him constitutes a confirmation. Only someone who cannot think for himself at all would want somebody else to tell him what to do. And even then he most likely wouldn't take the trade anyway because he'd be afraid to. Or, if he did, and the trade didn't work out, it would be somebody else's fault. A real recipe for growth and eventual success.

You talk about me to your friends? Oooookay.

 

[dbphoenix]

I'll say it again, you would not find a real successful trader - a Raschke, a Sperandeo, Schwartz asking these questions. In fact, they would likely read DbPhoenix's pdf and say, "well, duh, of course that's how it works ... tell us something we don't know."

If you ever have a slow evening, Vad Graifer and I got along nicely. He is, of course, not here anymore. His name was Threei. It doesn't search well, but if you search for Graifer, you can find them (only 373 of them).

 

[fortydraws]

You talk about me to your friends? Oooookay.

lol

This where the internet really gets a bit creepy lol.

I think autodidact ought to look for a different teacher. The one he's using isn't doing him any benefit

 

[Laissez Faire]

Do you think institutions moving 1000's of ES contracts between the bells are playing with their MACD's and making sure they line up across twenty-three out twenty-five bar intervals? C'mon. I'll say it again, you would not find a real successful trader - a Raschke, a Sperandeo, Schwartz asking these questions. In fact, they would likely read DbPhoenix's pdf and say, "well, duh, of course that's how it works ... tell us something we don't know."

How long has dbphoenix been trading? 20 years? How many lots do you think he's trading by now?

Anyone with half a brain knows that dbphoenix isn't a trader. He wouldn't be spending all this time on multiple forums if he were. It doesn't add up.

As for Linda Raschke and Schwarts, they both used the MACD and other indicators as well. I don't know about Linda, but I'm pretty sure Swartz have done a 1000 lot more than once.

 

[Humpy]

In hindsight I wish I was a fly-on-the-wall at the meetings of the Swiss bankers that unpegged their currency and had a million to invest.

 

[dbphoenix]

How long has dbphoenix been trading? 20 years? How many lots do you think he's trading by now?

Anyone with half a brain knows that dbphoenix isn't a trader. He wouldn't be spending all this time on multiple forums if he were. It doesn't add up.

As for Linda Raschke and Schwarts, they both used the MACD and other indicators as well. I don't know about Linda, but I'm pretty sure Swartz have done a 1000 lot more than once.

And how do you know that Raschke and Schwartz are "real traders"? Have you seen their P&Ls? Since she's given you permission to call her "linda", surely she's shared that information with you.

 

[Laissez Faire]

And how do you know that Raschke and Schwartz are "real traders"? Have you seen their P&Ls? Since she's given you permission to call her "linda", surely she's shared that information with you.

I don't know anything about Linda, to be honest, but I have no reason to doubt that Swartz are a real trader.

"Buzzy Schwartz is a winner. We know because we clear for him. All else is nonsense."

Ace Greenberg, chairman of the board, Bear Stearns & Co., Inc.