TRADING IS SIMPLE ... (TheRumpledOne)

Quote from TheRumpledOne:

A must read!! THINKING FAST AND SLOW by Daniel Kahneman


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I've got that Nike golf cap. Fits great. :p
 
THINKING FAST AND SLOW - Another must read book...



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Is is EASY TO SEE that PRICE IS THE SAME when you plot the HH/LL for all of the time frames and see that PRICE is in the same position relative to the HH/LL for each time frame no matter your chart time frame.
 
Quote from TheRumpledOne:

True, I don't believe in "trend" because trend is what the trader says it is... it is conceptual in nature. However, after the fact, traders look back and point to where the trend started (turned). In each and every case a PRICE TURN occurred. Therefore, those who use "trend" in their trading should be aware of PRICE TURN and when the last price turn occurred.

You ask how it is different. Did I say it was different? Do you see a difference? The difference is that price turn tells the trader what is happening with price based on when the last turn occurred - 1) turning up, 2) trending up, 3) turning down or 4) trending down.

This has nothing to do with the horizontal line though you can use price turn with a horizontal line to decide whether or not to enter a trade, trade direction and where to enter.

Buzzard reversal includes a price turn but not every price turn is a Buzzard reversal.

Yes, a Rat Reversal includes a price turn.

"You also say in the video the reason for entering the market has no bearing on outcome" Yes, that is true. ANYTHING CAN HAPPEN after you enter a trade therefore your reason for entry does not guarantee you a profit.

"So you have a 10 pip stop, a useless entry method and no defined exit (which is what you state makes you money). " Any tool is "useless" if you don't know how and when to use it.

I see you are familiar with the EXIT PLAY BOOK.

Your "questions" have been answered. Best of luck to you. Thanks for posting. [/QUOTE

Sorry it has taken me a while to respond - I haven't logged in for a while.

TRO :)

Thanks for taking the time to respond: appreciate it :)

Can I just say from somewhere very far away that I do genuinely believe that you are one of the 'good guys' and are out there to help people. I think you are often greatly misunderstood.

Yeah my "questions", hehe. I sometimes have an odd way of putting things :)

Thanks again
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I know it's been a while but I am pretty settled in at the ranch. Back to trading and coding on a regular recurring basis. Though my focus isn't on scalping since I am not online 24/7. Looking at simple entries over longer periods of time. Emphasis on statistical trading at HORIZONTAL LINES. No squiggleys needed.

And if you are looking for an argument, you won't get one. I don't have the time or bandwidth to spare.
 
Quote from bmwhendrix:

Very good post. FWIW I totally agree, but it took me a long time to reach this point.

The only minor difference with my written methodology is that I call the 2 choices Continuation and Reversal.

Have a great year!!
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:p
 
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