The Trouble With Scribbles

[dbphoenix]

But I will give you this much: Go back to the post you made in the Al Brooks thread about the afternoon's range, and instead of looking for a horizontal range, look for the downward sloping range off the AM session high. Draw the upper limit of that channel, then apply AMT to find the oversold reading above yesterday's high. That, imo, was the trade for the afternoon, with an entry anywhere between 5 and maybe 8.23/8.50 depending upon how one plans his or her trades according to SLA/AMT.

There are of course "life" issues that are never addressed by the gurus who don't trade, e.g., is one or is not one willing to sit for an hour waiting for his instrument to make one point? One lousy point. And if it does take an hour to make a point, what does that tell him about trader exuberance or lack thereof? Is one in a psychological position to place a SIFI trade (set it and forget it)? If so, fine. If not, then there he sits while he could be doing some of the other things that are on his pre-weekend ToDo List.

Fact is, this thing took over five hours to make six points on the long side. Scribblers generally make this in five minutes. A SIFI trade may be just the ticket. Otherwise, to hell with it.

 

[Eddiemorra]

IGo back to the post you made in the Al Brooks thread about the afternoon's range

I don't remember making a post about the afternoon range in the 'Al brooks' thread? Sorry if i'm being thick!

edit@: maybe you mean the foresight thread

 

[fortydraws]

I don't remember making a post about the afternoon range in the 'Al brooks' thread? Sorry if i'm being thick!

edit@: maybe you mean the foresight thread

I think I may have confused you with michaeljstocks. My apologies.

 

[fortydraws]

And yet BS sees fit to ridicule him for doing the work that only a handful of those who frequent this site do and have done. It is to lajax' credit that he can ignore all of that.

To be fair to Buy1Sell2, he has really succeeded only in making himself look ridiculous, imo. To be fair.

 

[dbphoenix]

It might help if he were to take us off Ignore and actually respond to some of this.

Or maybe he's just embarrassed about having thrown away over 400 ES points in order to stick to whatever his method is and make only 9 instead (speaking of the alleged superiority of his method over the SLA/AMT).

 

[Buy1Sell2]

It was a while ago, but why no short on the lowerhigh at that occured at your first pre-determined line, 40 ?

There are actually 2 other longs on this chart as well as the short you mention. Good eye on the short.

 

[Buy1Sell2]

View attachment 151219 Would have been?:

Eddie, would like you to understand that one of the greatest differences between my entry/exit system and the scribble method is that my plan identifies trades that occur outside of the range as seen scribblers. I also enter and exit trades that originate and/or end within the range described. I can do this because I am not held down to taking trades based upon arbitrary lines. I am instead taking trades based upon price action and indicators combined and I am not tied down to static scribbles. Make no mistake though, the most important aspect of my trading is the trade/risk management. This is largely ignored in the scribble method.

 

[fortydraws]

Eddie, would like you to understand that one of the greatest differences between my entry/exit system and the scribble method is that my plan identifies trades that occur outside of the range as seen scribblers. I also enter and exit trades that originate and/or end within the range described. I can do this because I am not held down to taking trades based upon arbitrary lines. I am instead taking trades based upon price action and indicators combined and I am not tied down to static scribbles. Make no mistake though, the most important aspect of my trading is the trade/risk management. This is largely ignored in the scribble method.

Testimonial from students, and especially teachers, must be provided on a regular basis to maintain veracity. The only way to achieve that is with real time calls. There is no other substitute.

Are you really ready to assume the role of trading system teacher? If so, do you plan on holding yourself to the same standard you wish to impose on the entire ET forum?

FWIW, I don't care whether you trade or not, though I really do not believe you day trade the system you hindsight posted here yesterday. But if you are going to continue with this, even your friends may start to expect you to show a bit more "transparency."

 

[dbphoenix]

Eddie, would like you to understand that one of the greatest differences between my entry/exit system and the scribble method is that my plan identifies trades that occur outside of the range as seen scribblers. I also enter and exit trades that originate and/or end within the range described. I can do this because I am not held down to taking trades based upon arbitrary lines. I am instead taking trades based upon price action and indicators combined and I am not tied down to static scribbles. Make no mistake though, the most important aspect of my trading is the trade/risk management. This is largely ignored in the scribble method.

It appears that "one of the greatest differences" lies in the extraordinary amount of money that the "Buy1Sell2 Method" leaves on the table.

I'll stick with price action.

 

[romik]

Available 400+ pts? Hindsight chart analysis is a fabulous marketing tool. Why not talk about losses that would be incurred along the way? Oh, I forgot, you don't lose