Discussion in 'Technical Analysis' started by jyf_daytrading, May 26, 2004.
This is good one.
It is completely elementary.
If you want something that "works", change the word "choosing" to "creating".
it. (at the yime of the post).
No other pair can make that statement.
Why do newbies post this feces?
Probably because we're impressed by all the "cool stuff" on ET, and don't know any better.
It is an article from the Esignal site. It proposes several analysis factors for making use of an edge.
I think there are a lot of people who actually use this stuff. It may even be something some people "believe in".
The concept of CW (conventional Wisdom) may apply to how Esignal runs heir web site.
It could be that people actually use written materials like this to spend time to try to develop something or other.
This could be what is going on. I think it is sort of how the herd operates.
Where else would your profits come from?
I really prefer the herd to "push" my trades.
So I look at getting profits at the point where the price moves to the left side of the channels or where the right to left traverse fails.(FTT).
Who is there at the extreme of my channels, etc.
Usually is is at a lower volume 2 pair that becomes a spike just after the two pair ends.
What I think is happening is that I am being taken out by someone's protection being hit. My guess is that is it usually a stop being hit by someone who has previously entered prematurely on a trade based upon prediction.
that is a person reverses or enters on the prediction that the price is going to shift against the trade and they enter and have trailing stop that gets taken out as I reverse into the trade when the extreme occurs.
The transaltion into 2 pair and the two pair leading into a reversing spike is not anywhere near where the herd is operating.
The herd trails smart money by a long shot and they are doing targets and trendline BO's and edges and pivots etc. All of these things come well after the extremes of trend endings.
I feel I am in the next trade as they swell the trading "inside" the extremes when they discover they are doing "initiatial losses off the max potential profits and then perhaps doing "drawdown on severly late trailing indicator entries.
Most people still post charts in ET that have pre PC defaults on indicators that were designed before the advent of the PC. these are really severe lagging things. All of which "push" my trades.
I am glued to volume "acceleration" (PRV detemined) to "hold" as the herd arrives. then the volume velocity is constant within a typical variation (below a range of stat sig) and then on the deceleration I find that I am ledinto the last DOM transaltions and finally to the 2 pair scenario that leads to a spike. Often there are "resumes" that, then continue the trend (or traverse). As such they cancel out all "cautions" that came in the space. I feel alot of the stalls are based upon scalping, hair triggers, lousy targeting of poor edges and later, limitations of people's attention spans, the supply demand myths hitting, and then the "I can't believe the run up, it just can't go further.
I am in the sphere of 3xH/L daily range. I go, copiously through all the traps and stuff. I try really hard to keep being "pushed' by the herd.
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