ok! Sharp, Wether I made fake records or real You do not have to be bothered. You should be on your way, why are you wasting your time here ?? Do some more analysis in your point and figure. Wether market can be forecasted or not, I did not ask your opinion. Secondline in the other thread said, if you don't like or dont think it is good enough please continue on your journey. Good luck to you and your children... How long have you been trading ?? You won't have to ever tell me again whether I should use my forecasts or not .... Because it is me who is contributing something here and not you.... So let me decide, ok !!! Thanks! Abhay
Enough said. You run a website where you want people to pay you 40-50 bucks a month to look at your charts which up to this point, are worthless!!! But I, being a decent person am willing to hear you out and see what you have to say about your styles. All I did was ask some simple questions and you come back with no real answers and just get mad. Then you want to question me. Fine. If I was selling my point and figure charts for 40-50 bucks a month I would at least be able to answer logical questions as to why or how anyone could use my them!!! Oh well, I will leave your thread alone. It's obvious that you are only here to build your ego by trying to scam the rookies. Seems if your charts were so great you would charge more then 40-50 bucks a month but that is just another one of my opinions and you don't like those anyway. The people here can make up their own minds.
Sharp, It is not a question of Ego building, but when you start alleging fraud by faking records and suggesting me what I should use and not then you certainly evoke some reaction here. You say you are using point and figure charting. Everyone else who considers himself a trader does some form of that and if you ask experienced person they will tell you 100's of difficulties with them and it is known that they are not predictive but are reactionary. There is no dout that there are lot's of traders who don't need anything and they are profitable by money management alone. if you are one of those types very good, you probably don't need to stay on any thread. If I say show me realtime performance of your point and figure chart and then I think by your standards my answer should be you better stop using those as they will not stand to your standards that you are implying here. Best you can do is watch for few days and then I will ask you if it is possible to make these charts on paintbrush or if they convey you some message. It could be my luck that tomorrow's chart may go wrong as I do not claim to be correct 100% time and I do have 15% margin of error and some signals everyday will definitely look wrong. But it is those 80 - 85% that will be correct and give you profit. But you will have to watch for few days and not just one day.... I didn't even make one suggestion here that people should subscribe myservice yet. Unless I believe I can build credibility I will not post anything here.
Abhay, Your response has made me want to post a reply. First, I never called you a liar. You stated: All I said was that anyone could post a fake trading record. That is not proof. I never claimed that's what you did. Second, my question is simple. Why or how is anyone paying for your service suppose to use your charts? Like I said my P&F give me a idea of what I think the market will do tomorrow but if I think the market is going down at the open and it shoots up 100 points I am still taking the long side trades. My trades are not based on my P&F charts. They are based on my real-time indicators. From what you have posted here and on your website your trades are not based on your prediction charts either. They are based on what is going on in real-time. Further more, it's my contention that someone trading only off the information posted in your charts would end up losing money. Why, because the real-time price action trumps your prediction charts. So, the question is a simple one, why should I pay you 50 bucks a month to see your charts? How are they going to help my trading? How should I use them to maximize my profit? You have already stated that the information on your website is outdated so what do I need to do in order to benefit from your charts? No one could benefit (in the long run) from my P&F charts. Why? Because real-time market action trumps the charts. Anyone who would pay me 50 bucks for my charts is not thinking clearly because I can not explain to that person exactly how the charts should be used, except to say that they can call general market direction. So far that is all your charts have shown as well. How does someone use your charts in real-time? That's the crux of the matter here.
ok! The simplest thing to understand is that all technical analysis is reactionary and my charts provide advantage of foresight. In reactionary situation you don't have a clue as to the trend for the day, if it will be trending or choppy and how many turns to be expected. So every time your heartbeat is pulsating and there is nothing to give you additional confirmation. Given my forecasts will not be 100% correct and some signals will be wrong (Pls dont look at forecasts literally from precise minute to minute) but just taking example of Friday's forecast : You captured most of the profitable moves and where you said I was wrong, the loss would have been minimal of just 5 S&P points whereas you captured about 20 S&P points. Do not just statistically count how many signals were wrong or right, instead see how much yuo would have profited in correct signals and how much you could have lost in those wrong signals. So in summary, my foresight helped me plan for the trade and be prepared to enter the trade and pull the tigger when indicators also supported it. Otherwise you and every trader knows that how indicators give false signals and in absence of anything else to confirm entry point, your confidence in taking any trade is always shaky. My forecasts also give you picture of the day, if it is going to be very choppy then you know what kind of strategy to adopt. Without foresight you will keep getting whipped all day. if you see trends then you know you can wait to exit... Of course it will take anyone some time to visualise how it can be used to maximise profits combining with your own methodology... These kind of questions are always welcome and interesting topic of discussion rather than accusation ...
There you go. That's a good point. Your charts could be use to try and identify (ahead of time) weather or not the day may be choppy or trending. Your chart for Monday looks like you may be expecting a sideways or choppy day whereas your chart for Tuesday clearly show a major down day. Now you're giving us something to think about. If your outlook for the day was choppy you could wait for a real clear signal to enter a trade, use smaller size, and maybe place your stops a little closer. Then on Tuesday if you get a sell signal you could go all in and wait for the trade to play its self out. That seems like a valid way to play your charts. Lets see what happens on Mon. and Tues.
Go to the yahoo astrologyofthestockmarket group and you will find this guys discussion there. He claims to use astrology to predict the market. His projections are based on planetary moment.
There you go! my friend... You got it very precisely. You will profit from that strategy and if I get time I will try to post what I think and when I make the trade...
Doesn't that guy whose name sounds like an italian food dish do the same thing? Pesto-something, Pesavaentes or something like that.
There are lot's who do the same thing : You are talkign abour Larry Pesavento There is Bil Meridian, Ray Merriman, Arch Crawford Have you heard name of Art Cashin on CNBC commentary ?? He is Vice-President of UBS Painwebber and he talks about cycles analysis often (it is the same thing and when he says sometimes what he is expecting from cycles analysts - I know what he is talking about and where is coming from) There was a legendary W.D Gann ...