Why Is The Obvious Not So Obvious?
- Thread starter nysestocks
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Quote from nysestocks:
Question No.2
What is this chart of?
Chart two closely resembles the ES on 3/13/2009. I'd guess the P&F chart is of an index or an equity.
Quote from AllOrNothing:
Chart two closely resembles the ES on 3/13/2009. I'd guess the P&F chart is of an index or an equity.
Kudos AllOrNothing! Can't see how you can get closer than that!
Also, thought that I'd add something that is "obvious", but has not really been mentioned much during this thread. Charts like this and various other indicators are, for the most part, simply tools for displaying MARKET SENTIMENT. My initial reflex to the question, âWhat is this chart of?â might be a âchannel upâ or âcup with handleâ. But why do so many of us believe that we gain an edge when correctly interpreting these visual displays?
To answer this, I think we should all agree that the market is basically schizophrenic! How could it be falling one moment so dramatically, then rising the next, if it wasnât suffering from some form of a bipolar disorder??? And of course the market is schizophrenic because traders are schizophrenic! So to the extent that a trader can proficiently utilize these tools to diagnose this enigmatic head case called the market, they will enjoy success! Perhaps this sounds a little crazy, but maybe with all of our charts, indicators, news feeds etc., all we are actually doing is asking the perennial therapeutic question, âSo Mr. Market, how are you feeling today???â
Quote from NERVESASTEEL:
Also, thought that I'd add something that is "obvious", but has not really been mentioned much during this thread. Charts like this and various other indicators are, for the most part, simply tools for displaying MARKET SENTIMENT. My initial reflex to the question, âWhat is this chart of?â might be a âchannel upâ or âcup with handleâ. But why do so many of us believe that we gain an edge when correctly interpreting these visual displays?
To answer this, I think we should all agree that the market is basically schizophrenic! How could it be falling one moment so dramatically, then rising the next, if it wasnât suffering from some form of a bipolar disorder??? And of course the market is schizophrenic because traders are schizophrenic! So to the extent that a trader can proficiently utilize these tools to diagnose this enigmatic head case called the market, they will enjoy success! Perhaps this sounds a little crazy, but maybe with all of our charts, indicators, news feeds etc., all we are actually doing is asking the perennial therapeutic question, âSo Mr. Market, how are you feeling today???â
Sir.
What do you think a chart really is
You also say the market is schizophrenic (ever hear common sense is not so common)
90% lose, 10% win - consistently
I wonder if these are related in any way - Yes Sir - I just wonder
Redneck
It is "obvious", that a chart displays MARKET SENTIMENT, which as I said has not really been mentioned much during this thread ... perhaps because it is sooooo "obvious". What is not so obvious is the answer to the question, "So, Mr. Market how are you feeling today?" Perhaps the 90% that loose in the market incorrectly perceive the answer ... or incorrectly perceive that they can answer the question ... or lack a strategy that can make them a winner regardless.
Why Is The Obvious Not So Obvious?
Is this a trick question?
How clearly can this be stated . . . It's all obvious !
Why are there overweight people who don't want to be overweight?
All that is need to be known is known. Only after many trial and errors (some people call it "experience") will you know what you need to know and know what you don't need to know to accomplish certain things - lose weight, trade successfully, whatever . . .
If this is not obvious to you, then you only have one thing to do . . . keep forging ahead until it is. It's all obvious ! Trust me.
Keep trading.
Is this a trick question?
How clearly can this be stated . . . It's all obvious !
Why are there overweight people who don't want to be overweight?
All that is need to be known is known. Only after many trial and errors (some people call it "experience") will you know what you need to know and know what you don't need to know to accomplish certain things - lose weight, trade successfully, whatever . . .
If this is not obvious to you, then you only have one thing to do . . . keep forging ahead until it is. It's all obvious ! Trust me.
Keep trading.
nysestocks
Guest
Quote from rcn10ec:
nysestocks,
Noticed you have not posted anywhere in a while... sure hope all is well.
Yes, rcn, all is well - thank you.
I am but an average person like most, but I really do not like it when others think that they are "experts", when the facts show the exact opposite!
This pullback from the 810 level was expected, although many were expecting a further follow thru!
Look at the volume since 10 Mar!!!