Why Is The Obvious Not So Obvious?

[themickey]

Thank you.
Very interesting perspectives/observations.

Imo, patterns, eg h&s, triangles, wedges, channels, add to clutter.
Cut out the clutter!
Scat and others mention KISS.
Never a truer word is spoken.
From another thread......

I think - we - as traders - ME included - tend to make trading - way too complicated. In the past - I used to use several indicators on my chart - thinking I needed all that information - to make good trades. At one point in time - I had maybe 5 or 6 indicators on my chart - and was having more losses. I finally realized - the more indicators I had on my chart - my Winning Percentage went DOWN. I had one of those - "duh" - moments - started getting rid of Indicators - started making money again. WE - meaning TRADERS - can be our own worse Enemy.
Look at this chart below - it has Support and Resistance lines - NOTHING else. I could trade this chart all day - it is an old setup of mine - after I got rid of all the other Indicators. And guess what - I really don't even need my Algos - and neither does any other trader. Now - that is a good sales pitch.

But I would dispute; "I really don't even need my Algo".
Maybe if just trading 1 instrument an algo is not required, but I trade scores of stocks and track hundreds of instruments, an algo does the math for me and speeds up decision making.

 

[themickey]

It is very difficult to code patterns.
Think again, if mkts are run by algos and patterns are difficult to to code, then maybe algos don't need to read patterns.

 

[ironchef]

Imo, patterns, eg h&s, triangles, wedges, channels, add to clutter.
Cut out the clutter!
Scat and others mention KISS.
Never a truer word is spoken.
From another thread......

But I would dispute; "I really don't even need my Algo".
Maybe if just trading 1 instrument an algo is not required, but I trade scores of stocks and track hundreds of instruments, an algo does the math for me and speeds up decision making.

Thanks a million.

I was going to buy another Al Brooks' book but I am getting a great education from you instead. And it is free.

 

[themickey]

Thanks a million.
I was going to buy another Al Brooks' book but I am getting a great education from you instead. And it is free.

Yep, I have a bone to pick with Al Brooks and many traders on ET, they over complicate.
If I had a willing student who was prepared to listen and obey, in 1 day I could teach them how to trade, in actual fact only a few minutes, but like a house, you see the building but there needs to be a foundation taught otherwise the smart ass student will think it is all too easy.

This sort of thing is total bs.

 

[themickey]

I'm very confident the market hasn't seen bottom yet, or let me word it a little better, markets are going down again, this is not the beginning yet of Santa rally.
However I'm expecting markets in interim to rise another ~3% before it heads down, that's just enough to sucker in more sheeple.
Crypto I'm bullish atm.

 

[Onra]

View attachment 326744

Crypto behaves technically, easy to trade, moves fast.
Here it is behaving perfectly atm, no surprises.

Are you referring to the 30.000 reaction?

 

[themickey]

Are you referring to the 30.000 reaction?

No. It's within this area....

 

[Ricky Roma]

View attachment 326744

Crypto behaves technically, easy to trade, moves fast.
Here it is behaving perfectly atm, no surprises.

Where is crypto going next then, if it's easy to trade?

 

[themickey]

Where is crypto going next then, if it's easy to trade?

Do ya read my posts or not mate, Wot.
From the crypto thread....

I'm expecting a soft pop, meltup from here, a type of increased acceleration over the next day or two.
Let's see how the call plays out.

 

[Ricky Roma]

Do ya read my posts or not mate, Wot.
From the crypto thread....

Ah, you have your historic posts hidden in your profile..didn't see it..will go look