Why Is The Obvious Not So Obvious?
- Thread starter nysestocks
- Start date
Quote from The Oracle:
PS has spoke..and it no joke
the chart u see..is where it be
but when u look..into the book
u must be know..what make it so
if u but stare..u will see glare
and think of stuff..that really tuf
but know u this..it is all piss
for time will show..when money flow
TO has spilt..lifted the quilt
tis easy see..as ABC
the trick it be..that u must see
inside minds eye..where chart will fly
now think of this..next time u piss
how much u see..where bowl do be
willy not know..where piss will go
and just one glance..might wet ur pants
some will seem..like lazer beam
and others fire..like busted tyre
those in haste..with no real taste
no shake will do..and wet the shoe
the moral u see..in case not be
is LOOK before..u shoot to score
for if u think..that in a blink
the cash will flow..then YOU are SLOW
I am slow
Is the flow connected to simple market dynamics like time of day - open, close, etc
Or unique to price?
In a word, no. The reading I've found on the net all relate to measurements made from some type of reversal formation or some type of pattern. All using RTA. It appears to my untrained eye that the move TO is using is based on a previous "push up/down", for want of better description. That is then attached, at the same angle, to the next push up/down. This would give a rough price target and time target.
Regards
The Bogan
I use a filtered T&S that also assemblies trades after the CME break it up, still a beginner (will always be) but it has definitely helped me avoid losing trades and slightly better timed entries.
Think TE mentioned ages that it is not an absolute requirement (like L2 is not totally necessary) but i find value.
Only thing is it take months and months just to get an inclination of buying and selling pressure (as befoe this is my experience others might pick it up a lot quicker)
Think TE mentioned ages that it is not an absolute requirement (like L2 is not totally necessary) but i find value.
Only thing is it take months and months just to get an inclination of buying and selling pressure (as befoe this is my experience others might pick it up a lot quicker)
The Obvious pre-requisite to trading any market is to understand the basics of how that particular market works.
Quote from The Oracle:
there are 3 things that might help..see if u can work them out..sure it would be lazy if i told u
R..... ............ ............ ... ......... ... .......... .... ..... .........
S
C
S = size
C = charts
Random ............ ............ ... ......... ... .......... .... ..... .........
Mysteron and TO posted a couple good charts, a few pages back.
AB = CD.
In the chart the TO posted, it's used to catch a reversal level. In the chart, the first dominant wave is measured, then applied to the 2nd dominant wave, to project a short entry price target for the end of the uptrend = beginning of downtrend.
In my experience, it can be helpful, especially in rangebound markets, where price continually makes 1-2-3 reversals. Problem is, highly trending markets, where each dominant wave is measured, applied to the next, whereupon, price breaks through and keeps trending. The converse also holds - measured retracements. Problem there - rangebound markets where price reverses after the 3rd wave, which the trader expects to be a retracement. Mysteron posted a good chart that illustrates both.
This stuff works great. The key - once a reversal is caught, sit, wait and let the move develop. Being the ADD type, I continually try and catch reversals, even after having caught a good signal, shortly prior. Also, like everything else, it's not "tick-accurate". But provides an acceptable reversal range, usually around 10 points.
MN will know the answer
in hindsight..everything works great..one must be able to adapt to the current circumstances..and not THINK that something will or will not happen..but i do agree A28..targets are a must..as without them there will be no structure to the trading plan..and a sound plan is a must for consistent profits
i have been playing with the excel file that TE sent me..and i must say it is very good for seeing real time action to the smallest detail..i will catch a few screenshots for discussion..small bit of work to be done on the colors..should be easily sorted with a little bit of conditional formatting
TO