The Trouble With Scribbles

Buy1Sell2 said:
How far does it go Romik?
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Far as in target? Preliminary target is a conservative 19,000 as I grabbed that one at 20,000 (with stop posted in real time).

I look at histogram mostly and that last up thrust registered just 1 bar in histogram above 0 line and back under, now that is one of the most obvious patterns suggesting end of oscillation. That was present at time of the flash crash, so I don't buy that the Hound of Hounslow was solely responsible, it was meant to happen.
 
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All past tense. Still no rules. Still no risk management. Still no trade management. Still nothing more than Guess&Hope. Which is why the SLA will always outperform it.

Enjoy NeverNeverLand, kids.
 
Markets aren't mechanical, so I am afraid your mechanical system is also based on guess&hope. Or maybe you got a crystal ball? Lol.
 
romik said:
Markets aren't mechanical, so I am afraid your mechanical system is also based on guess&hope. Or maybe you got a crystal ball? Lol.
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No, it's based on rules. No crystal ball is necessary. In fact, bias is a distinct disadvantage.

Having rules does not mean that one is a mechanical trader. The trader without rules is simply gambling. And given that the SLA has far outperformed the "grail" method, and will always do so, the benefits of a rule-based system are self-evident. Which is probably why all professional traders, i.e., those who are financially independent, have rules.
 
romik said:
Short 2093.25, stop 2096 (tight stop) based on 10 minute chart
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Like what you've done here in adjusting time frames to find signals. May or may not work, but I like the approach. Yes 1 tick above HOD is tight, but you can always re-enter if stopped.
 
romik said:
Short 2093.25, stop 2096 (tight stop) based on 10 minute chart
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Ok-- It didn't work, but here's the good news--You put yourself out there for others to see with no worry about whether or not trade would be a winner. You risked an incredibly small amount of money--You now have a clear mind to re-analyze and decide if there should be new move. -- You used a very small stop most likely due to the still oversold 60 min chart which lends itself well to bounces.--Really good work here. The scribble folks don't post real time calls and that is a huge concern.
 
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romik said:
Short 2093.25, stop 2096 (tight stop) based on 10 minute chart
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You appear to have the same unerring (not) sense of direction as your friend.

Ever consider putting together a viable trading plan? One that would help you distinguish between up and down?

I know of one. But it involves being able to draw a straight line. Think you're up to it?
 
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