Denise Shull Says Tape Reading Art is Real and Alive

Discussion in 'Psychology' started by cornix, Dec 11, 2012.

  1. cornix

    cornix

    Here's the good news for us all who rely on TA (which is a variation of tape reading in my view). One of the top psychologists in the industry with experience of working with some of the largest hedge-funds openly says in the interview on Bloomberg that tape-reading art is absolutely real and many good professional traders still rely on it... and, she compared it to.... market surfing. :D

    http://click.icptrack.com/icp/relay...-risk-sac-s-cohen-Hro2014MRoGhxV1tuXBohA.html

    P. S. I want to thank Surf for introducing this amazing woman to me (despite only virtually). What she does and writes about is very interesting and much correlates with my own experience as a trader and psychologist.
     
  2. interesting video. thnx
     
  3. Thanks for the name check, Cornix. Yeah, Denise is a cool lady-- I have known her for many years--- I haven't watched the video yet-- but I venture by tape reading she means what I call book reading-- perhaps combined with the tape-- but she isn't talking about charts or past price technical analysis as practiced by the proponents here.

    Book reading is a component of the market driver system-- as it's pre-transactional thus relevant prior to entry. You are almost getting it. Keep on this track and you will get what I'm talking about very soon.

    surf :)
     
  4. cornix

    cornix

    By the book you mean DOM and/or other lists of pending orders?

    P. S. I thought there's just one objective judgement of trader's abilities: profit. Regardless of method, be it the book or tea leaves. :)
     
  5. zdreg

    zdreg

    not true. if you are perceived as a rock star i.e. niederhoffer you can lose everything and still raise money.
     
  6. Yes.

    No, gamblers of all types can and do profit-- some overtime.

    surf
     
  7. cornix

    cornix

    Agree, but that's not directly related to trading already, more something to do with show business. :)
     
  8. Very true. Rock star or not. You see it again and again.

    The more you lose, the easier it is to raise more. Blow up spectacularly and money will flow to you. Grind away like some stop using, scared money, delusional chart addict and money will avoid you.

    This is counter intuitive, but so are many market facts.

    Surf
     
  9. zdreg

    zdreg

    ok, lets rock n' roll and make loot today.
     
  10. It's related to the truth of the market and how it really works. Not what makes sense to you-- like getting an edge by looking at past price on a chart, seems to make sense but once you gain understanding seems ridiculous.

    I don't think meriweather from LTCM is a showman by any stretch yet he blew up spectacularly and immediately raised another substantial sum. I could go on and on with examples. Big risk is needed for big rewards. Real investors understand this. If you can't embrace it, why not just get a job rather than trade?
     
    #10     Dec 11, 2012