The Trouble With Scribbles

dbphoenix · Apr 7, 2015

marketsurfer · Apr 7, 2015

fortydraws said:
QUOTE="Buy1Sell2, post: 4106030, member: 45994"]There are no stop outs listed on this chart ... the first thing that should be done is to establish stop loss areas and this chart still needs that done. The focus here is on being right instead of trade management. It's ok to be right, but I would make a recommendation to look at potential loss first.

If only you would take the time to understand what it is we are doing, you might actually know that the Scribbled Line Approach is designed to let the trader know where to enter, where to stop out, and when it is time to exit.

You also might find it helpful to use the legend this individual includes in every single post. We call them exits, rather than "stops" and "profits" because most of us understand that "exit" could be with a loss or a profit, but in either case, it is an "exit."

Others who have a more expansive and open intelligence than you no doubt wonder in concert with wrbtrader:

Remarkable to me is that you are obviously so angry with one individual proponent of this approach, that you would continue to make yourself look more and more ridiculous as you wage war on the concepts of support & resistance, simple trendlines, and the facts of supply and demand. In the end, that is all we scribblers are applying to our analysis of our charts.

And they are facts: price stopped rising here, it stopped falling there, this trendline tracked supply until its break indicated that demand had taken over and vice versa. Whether anyone can use this information to trade is the subject matter of our threads. If you do not wish to find out for yourself, that is fine with us. But why this crusade of yours to make us stop? Is this no longer the free world?

You fail to see so much. For example, do you not see that the only ones liking your posts are your fellow trolls, blind followers of your arbitrary methods, or those who, like you, are so pathetic in real life that they have developed a toxic hatred for a particular anonymous internet presence. At this time, I would wager that most here at ET following this pathetic soap opera have come to the same conclusions about you and other DbPhoenix persecutors as wrbtrader and myself:

The reason is what is being stated may "sound" correct and logical-- but those with a real understanding of the markets can clearly see the silliness and ridiculousness of what is being taught.

Therefore, some people are entertained by pointing this out. Destroying self proclaimed verbose gurus who parrot and dont have an original thought is a must to save the naive.

fortydraws · Apr 7, 2015

marketsurfer said:
those with a real understanding of the markets can clearly see the silliness and ridiculousness of what is being taught.

marketsurfer, what, in your opinion, is "being taught"?

marketsurfer · Apr 7, 2015

fortydraws said:
marketsurfer, what, in your opinion, is "being taught"?

Read any of the guru's posts-- a very naive yet seductive but incorrect method to view the markets. Heck, the guy even uses "free" charts from investor.com for illustrations. Do u even know or care where this @data comes from??

Or is it such a good feeling to think you understand ? This is in general to all the followers and not directed at you.

fortydraws · Apr 7, 2015

marketsurfer said:
Read any of the guru's posts-- a very naive yet seductive but incorrect method to view the markets. Heck, the guy even uses "free" charts from investor.com for illustrations. Do u even know or care where this @data comes from??

Or is it such a good feeling to think you understand ? This is in general to all the followers and not directed at you.

I've read a few of DbPhoenix's posts

. What, in your opinion, is incorrect about the method? I guess a better question might be for me to ask what is your understanding of the method in question here? Having been trained as an attorney, you would know that saying it is "naive and seductive" wouldn't be acceptable as "expert testimony" in a court of law. You say it is "incorrect," but then you leave us hanging as to how it is incorrect.

FWIW, I do remember a post by DbPhoenix from his earliest thread about his method where he explained he was using data freely available to anyone so that even someone without a trading account could look into the method to see if it would make sense to them. So, to be fair, marketsurfer, his use of free data in an atmosphere where he is constantly accused of being a stealth vendor can hardly be cause for criticism, right? Isn't that better than him telling people they need to buy the SLA_Oscillator for Multicharts with owndata3 for a lifetime license of $2997 or lease it for $99/month?

dbphoenix · Apr 7, 2015

As I posted to TL this morning:

Another range.

Where are you going to enter?

Where are you going to exit?

If you don't know or you're afraid to take the trades, you shouldn't trade today.

marketsurfer · Apr 7, 2015

fortydraws said:
I've read a few of DbPhoenix's posts . What, in your opinion, is incorrect about the method? I guess a better question might be for me to ask what is your understanding of the method in question here? Having been trained as an attorney, you would know that saying it is "naive and seductive" wouldn't be acceptable as "expert testimony" in a court of law. You say it is "incorrect," but then you leave us hanging as to how it is incorrect.

FWIW, I do remember a post by DbPhoenix from his earliest thread about his method where he explained he was using data freely available to anyone so that even someone without a trading account could look into the method to see if it would make sense to them. So, to be fair, marketsurfer, his use of free data in an atmosphere where he is constantly accused of being a stealth vendor can hardly be cause for criticism, right? Isn't that better than him telling people they need to buy the SLA_Oscillator for Multicharts with owndata3 for a lifetime license of $2997 or lease it for $99/month?

First this isn't a court, and second DB is not on trial---- he is just the parrot, and one of the last ones, for a long outdated and fatally flawed belief that "repeating" stock chart patterns can be used profitably over the long run. As well as classical hindsight confusion/bias being propagated as real time truth. DB is the leading proponent of these myths, my issue is not with him at all, he could be a great guy-- I have no idea-- my issue is with the method and he just happens to be the one preaching it.

He may not be a stealth vendor of product or services, I really have no idea--- but he writes like one but this may just be the years of brain washing by reading vendor material and dreaming about trading. who knows, I really don't care.

A crank really believes what he is preaching, while a charlatan doesn't really believe it but preaches it to make money or create fame/followers.

The bottom line is, when these methods are tested, even in the the most rudimentary form, its shown not to be any different than random entries. Like it or not, dats the truth. surf

Money Trust · Apr 7, 2015

In so many words, this guy just described his REAL issue with the SLA approach and his problem with SLA is the fact that no one is showing readers how to micromanage their trades. At least ONE person has admitted to it.

fortydraws · Apr 7, 2015

marketsurfer said:
First this isn't a court, and second DB is not on trial

True, true, not a trial. Though the behavior of the OP of this thread, at least, boarders on persecution, imo.

Have you tested DbPhoenix's method yourself? Do you have a link to someone who has tested it and found it to be no more reliable than a random entry method? I'm not looking to create animosity, marketsurfer. I think you're a smart guy, and I'd like to discuss this with you freely. If others have tested this approach and found it wanting, I'd be interested in reading their study results, and I'd be very interested to se exactly how they defined that which they were testing. Thank you.

fortydraws · Apr 7, 2015

Money Trust said:
In so many words, this guy just described his REAL issue with the SLA approach and his problem with SLA is the fact that no one is showing readers how to micromanage their trades. At least ONE person has admitted to it.

By "this guy" you might want to actually say which guy. I am suffering from a pronoun reference problem with respect to you post.