Quote from ElectricSavant:
(you really do not need to find the tops and bottoms with a scaling approach...actually you can be quite wastefiul and sloppy and still come out smelling like a rose with the thorns removed
That is something I will seriously look into.
Quote from ElectricSavant:
Map your cycles...draw horizontal lines of tops and bottoms in your chart if you must
This is a very interesting approach.
Its recently occurred to me a lot of profitable strategies implement different metrics and theories, yet each pinpoint many of the same market turns.
Its similar to a collection of artists who each paint a different perspective of the same object. While each perspective or facet may be incomplete to describe the totality of the object/event, their individual interpretation is enough to adequately *communicate* the true object being portrayed. I'm sounding like Jack Hershey here (a good thing?
I briefly drew s/r horizontal lines on the graph under the 'always in' paradigm you described above, as you suggested.
Its funny, because many of those same turning points, ie "ONE OF THOSE LINES WILL WORK" correspond exactly to the time windows where my strategy piles it on. Many of them.
It seems a lot of turning points exhibit technical similarities that can be measured from many different angles; yet each measurement likely sufficient in itself to hit a number of those points to churn out $$.
Your running circles around me.
Sage advice. One of my limitations is full time work. Which explains why i trade systems exclusively. During my early period of studying the market, I never would've even flirted with the idea to trade trendlines - too unscientific, i thought. But trendlines work great. Trading the bounces, fades, multitude frame. Very lucrative stuff. But im a novice programmer and profitably exploiting trendlines requires a powerful program beyond my engineering ability or the human brain.
I trust the market will throw me enough curveballs to keep me on my toes. If one strategy lacks, another will have to be made to compensate. Necessity is the mother of invention.
Its a labor of love, though. Like you, I love studying the markets. Mass human psychology manifesting itself in price action. Its great.
