Break-outs and pullbacks

Discussion in 'Technical Analysis' started by fatrat, Jan 18, 2007.

  1. nkhoi

    nkhoi Moderator

    oh ok, he is documenting his 'millionaires in 100 days' method for the book so you can wait for it then. I just though some ETer might want to skip the wait and get an early edition but like I said I might be easily excitable. :)
     
    #31     Jan 22, 2007
  2. hustler

    hustler

    Please, Nkhoi, could you describe what's in the files, I'm on a slow connection and the files were rather large. Thanks!
     
    #32     Jan 23, 2007
  3. PLATER

    PLATER

    Still downloading it will get there eventually.

    To the author of this thread, maybe look at breakouts from resistance or support, reversals around significant price levels etc. Daily highs and lows, intra highs and lows. Watch your market realtime and get some hours under your belt. If you don't do the work you'll get nowhere. This alone will keep you going for months.
     
    #33     Jan 23, 2007
  4. I find the best breakouts are on strongly trending stocks, news related, with a shallow pullback at the highs/lows. Just before whole numbers are even better.
     
    #34     Jan 23, 2007
  5. bluedemon77

    bluedemon77 Guest

    Exciting is not an adequate description for a 1000% return in 100 days if it can be done consistently. But it sounds like a typical infomercial to me--"lose 50 pounds over a weekend!" I'm still waiting to hear from somebody that actually did it. Then, I'll be excited too.
     
    #35     Jan 23, 2007
  6. Trapper

    Trapper

    One good thing is, the info in this commerical is free.

    Best regards,

    Trapper
     
    #36     Jan 23, 2007
  7. hustler

    hustler

    Could anyone who has downloaded these movies comment on what they are, since NKhoi does not seem to bother although I 've asked twic, and he was so eager about getting comments on the material..

    Presentations? Live trading? What?
    Thanks!
     
    #37     Jan 24, 2007
  8. bluedemon77

    bluedemon77 Guest

    It's a 1 hour and 50 minute presentation by Jack Hershey that is meant to illustrate how somebody can increase their account size tenfold in 3 months using his trading method. However, it only covers one day of trading where he made some very nice trades. There's a huge leap going from one successful day to doing this EVERY day to get a 1000% return in 3 months. Also, he doesn't explain his method in this, so unless you're already familiar with it, you'll have no idea what he's talking about. If you're interested in that, you'd be better off reading Spydertrader's journals on the subject.
     
    #38     Jan 24, 2007
  9. hustler

    hustler

    Thanks for clearing that out bluedemon77!
     
    #39     Jan 24, 2007
  10. http://www.elitetrader.com/vb/attachment.php?s=&postid=1331958

    Yes, your analysis is wrong.

    In fact, what you saw are not Japanese Candlestick patterns.

    They are unimportant single candlestick lines.

    The reason why they are unimportant is because the prior price action is either ignored or did not support the single candlestick line that produced your analysis.

    There are a few decent free resources online and cheap candlestick books to help understand the basic of Japanese Candlestick Analysis (I will mention one free resource here at ET as my last comments in this message).

    My point, the fact that you mention your analysis based upon Japanese Candlestick along with saying that's how your seeing this...

    Are you taking trades yourself based upon Japanese Candlestick patterns or lines???

    If not, why mention it?

    By the way, I talk a lot here at ET about the difference between Lines and Patterns.

    I also talk about the truths and false info concerning Hammer patterns

    http://www.elitetrader.com/vb/showthread.php?s=&threadid=52880

    The Trading Hammers (revisited) thread at the above link is stuff Nison and gang failed to mention and stuff you should learn prior to your next Japanese Candlestick analysis or trade via Hammers.

    Mark
    (a.k.a. NihabaAshi) Japanese Candlestick term
     
    #40     Jan 24, 2007