The Trouble With Scribbles

[dbphoenix]

I believe his point is that he predicted where price would go.... but we all know that if one could predict where price will go, then that person would be richer than anyone in the world.

Not a prediction; just an application of Auction Market Theory. And an understanding of trader psychology. Which is much the same thing.

 

[toucan]

the price action at the time to me indicated a reason to go long, but fear prevented me from taking it.

imo, its always better to complain about missed trades than complain about losses...

 

[k p]

I believe his point is that he predicted where price would go.... but we all know that if one could predict where price will go, then that person would be richer than anyone in the world.

The problem though is that a prediction means nothing without an entry and a stop. I see that every day in my trading. Look at my first long today, I predicted price would go up, and it did, eventually, but I got stopped out and didn't get long again till much later.

His prediction was that the opening would be exciting, or not. WTF is that? When predicting without trading, its easy, and when you're wrong, its easy just as easy to say where this failed. But when you're trading it, not so much.

 

[toucan]

Not a prediction; just an application of Auction Market Theory.

well... i disagree... if you were proud of the 40 points, then you were proud of "your prediction"... but then all traders are different and the way they trade is different.

 

[k p]

imo, its always better to complain about missed trades than complain about losses...

Can't disagree with this at all.

 

[dbphoenix]

well... i disagree... if you were proud of the 40 points, then you were proud of "your prediction"... but then all traders are different and the way they trade is different.

If you see "pride" it's in the correct application of AMT, though I'd call it satisfaction.

And yes all traders are different and the way they trade is different. But this thread is about the OP's "grail" and the SLA/AMT.

 

[k p]

Oh, and one more point about these "predictions" and his mentions of 40+ points possible. This is dangerous and irresponsible in my opinion. Each trader of course has to be responsible for himself, but what is implied is that its possible to get 40 points. So the beginner thinks wow, this is what an expert trader can do. But this couldn't be farther from the truth. By perpetuating this, he's actually causing harm in my opinion. Just like traders who only post winning trades and never losing trades. It skews reality.

 

[toucan]

But this thread is about the OP's "grail" and the SLA/AMT.

thanks for confirming my point.... given that both of you see things differently

 

[Schaefer]

Nothing ambiguous about this call from DBphoenix, either go long from here, or go short below. I'm posting this for my record, and for DB's.

 

[dbphoenix]

thanks for confirming my point.... given that both of you see things differently

True, the chief difference being that he's made less than 20pts so far and the SLA/AMT has made over 160. So his argument about the superiority of his grail method leaves something to be desired.