Quote from Mr_Black:
No I use my brain to recognize various types of fractals
Was your second entry there because the previous bar closed near its low, signaling weakness? Also, was there some reason for exiting the last trade where you did?
Trend Following dying?
- Thread starter JezLiberty
- Start date
Was your second entry there because the previous bar closed near its low, signaling weakness? Also, was there some reason for exiting the last trade where you did?
I can highlight some stuff in this image that I posted.
49,50,51and 52 are a retrace or non dominant move within the container from bars 45 to 56. this is one of the many layers I was mentioning. Bars 57 to 65 are a retrace of the entire move from bars 45 to bar 70, another layer, and within bars 57 to 65 it has its own retrace with bars 62,63,64.
There are a couple of ftt's pointed out also and they are ftt's of the many layers that will continue to come together.
If you want to get into real detail there is this thread http://www.traderslaboratory.com/forums/f34/price-volume-relationship-6320.html#post70027
Well, this chart art is all pretty and nice. however, how does it help you make money? seriously, that is the bottom line in this game.
Sony E
Don't drink the Hershey koolaid! Jack's been playing pied piper on the internet for over a decade and often uses stooges to dupe the unwary.
Look at how these people from Harvard came up empty-handed after trying to decipher Jack's "teachings" for more than a year, starting in 1999:
...I don't understand why it's not possible to verify such a successful futures trading system if it is based on objective rules. My own attempts to automate the system have been frustrated at every turn by an enormous problem that is apparently only resolvable by gut instinct... I have spent a great deal of time respectfully reading and thinking about what you have written, but mostly what I feel now is frustration.
http://groups.google.com/group/misc..._frm/thread/ccc785d53a418f8a/ad6210f80809669d
I can give you plenty of more recent examples but this should give you some context.
Look at how these people from Harvard came up empty-handed after trying to decipher Jack's "teachings" for more than a year, starting in 1999:
...I don't understand why it's not possible to verify such a successful futures trading system if it is based on objective rules. My own attempts to automate the system have been frustrated at every turn by an enormous problem that is apparently only resolvable by gut instinct... I have spent a great deal of time respectfully reading and thinking about what you have written, but mostly what I feel now is frustration.
http://groups.google.com/group/misc..._frm/thread/ccc785d53a418f8a/ad6210f80809669d
I can give you plenty of more recent examples but this should give you some context.
Quote from sonyericson:
Well, this chart art is all pretty and nice. however, how does it help you make money? seriously, that is the bottom line in this game.
Sony E
@trader666
Thanks for the link. I question what kind of person would even put time into TRYING to learn a convoluted system verified by vague claims on the internet? This is that bad, its extremely clear that it is nothing but painting on a chart after the chart exists, in fact the chart can't even exist untill the price move has taken place making this type of analysis 3 levels away from the actual move that must be anticipated in order to profit or lose for that matter.
Well, one thing, Jack exposed Profile Logics system as being market profile--nothing new or different there.
Delusions abound when dealing with a chaotic system --these are prime examples.
Sony E
Thanks for the link. I question what kind of person would even put time into TRYING to learn a convoluted system verified by vague claims on the internet? This is that bad, its extremely clear that it is nothing but painting on a chart after the chart exists, in fact the chart can't even exist untill the price move has taken place making this type of analysis 3 levels away from the actual move that must be anticipated in order to profit or lose for that matter.
Well, one thing, Jack exposed Profile Logics system as being market profile--nothing new or different there.
Delusions abound when dealing with a chaotic system --these are prime examples.
Sony E
Okay I see that last exit was basically getting out on the retest of the previous swing low at the same level. Not sure why I didn't notice that before.
Excuse me hack . . . your misquoting history is at least consistent.
Jack's opinion that what I do is "Market Profile" is incorrect. We all make errors occasionally. Jack have never studied what I do. On the other hand, one need simply look at all of your posts as Marketsurfer to see truly convoluted posts.
One also only need to look at one of my hundreds of posted charts on ET to immediately see that what I do has nothing to do with Market Profile but . . . you the blind hack couldn't find fact if it were stapled to your shiny fat forehead.