The Trouble With Scribbles

[fortydraws]

Logging out. I'll check in later if/when I'm settled in to a trade after the bell.

Last thing ... I've done little charts like this in the past, and those who find trouble with scribbles find trouble understanding how such exercises could possibly be useful. And yet this is the basis of how I trade: Find the range, trade only at the limits, and trade based on what the market does, rather than what I think it should do.

Also, I was filled at 6.75 and I am now out of just over 1/2 of my position as I balanced due to my late entry. I'm going to use a - 2 tick stop loss (just below the news spike low) as a hard stop.

 

[dbphoenix]

And a little context:

 

[fortydraws]

Another trouble with scribblers is they always want to know where the half way point of various swings and ranges and hinges are. This is because this provides them with "information" by which to "judge the market by its own actions." Sounds ridiculous to some, but not the scribblers.

 

[fortydraws]

And a little context:

Alright, now you're just creeping me out ... it's as though this scribbles method is somehow ... objective. Either that or it is some weird sort of paranormal activity or "cryptoTA" or something.

 

[dbphoenix]

And of course . . .

 

[dbphoenix]

Alright, now you're just creeping me out ... it's as though this scribbles method is somehow ... objective. Either that or it is some weird sort of paranormal activity or "cryptoTA" or something.

It's magic.

 

[fortydraws]

Crouching tigers usually spring up ... usually

 

[dbphoenix]

imo, this too is a BO, as it broke below yesterday's BO high, which, in my experience should have been the presumptive lower limit +/- 2 to 3 points depending upon volatility/time of day/proximity to long term mean. imo, this was short around 11 with 13.25 being the danger level, i.e. the level at which the BO trade is threatened as the market may be staging a reversal (but, admittedly, could merely a retracement in what is to become a much larger decline). I did not take it as I was unavailable at the time. I would have had I not been driving my daughter to school.

One of the advantages of trading a longer bar interval, of course, is that one can take advantage of trades that occur whether one is in front of his computer or not. One may not gross as much this way, but he can't earn anything at all if he's not in the trade.

 

[bmwhendrix]

Lest it goes unsaid, 40D made a real time call, explained it and executed it.

 

[Buy1Sell2]

Here is my analysis of the 15 min NQ chart frpm yesterday. First trade stopped out for a gain and second trade exited at closing for a gain. No shorts yesterday on the 15.