Registered: Dec 2009
03-26-11 02:21 AM
Quote from Gabfly1:
Well, he has since parted company with Borish, and with that, I would like to think, maybe his goofiness about Elliot and Gann. As I recall, those long-term charts did not exactly deliver as expected.
I think the important thing is that he notes ninety-percent of any great trader is going to be the risk control. The remainder is, therefore, a matter of finding reasonable entry momentum. Therefore, as long as the 90% is the focal point, any reasonable identification of imminent or early momentum will do for the remaining 10% of the equation. And I would think PTJ has honed both variables over the decades.
He missed the crash by only four months, but he called for one in 1986. I don't know PTJ played the crash, but there was identifiable weakness before. That would make for some interesting tape.
And you are very right about risk.