Is support / resistance and a few simple candlestick signals really TA? It's blocks and arithmetic, not the conic sections and differential multivariate whoompow. A fourth grader could do it. Is it really Technical Analysis? Naaaa. Right, Overnight?
Where ya gonna be appearing next week, Overnight? -- I like it till something better comes along. "Do you give TA much merit?" yeah, thats the ticket. I love saving time.
sick burn man. I'm just not so sure about certain patterns like you are pushing...are they really better than just buy when rising, sell when dropping...you're the one who said don't make this complicated. Sure I obviously believe in certain aspects of TA...just not all of it.
What pattern am I pushing? Read my posts. I don't push any pattern at all. I strongly suggest benchmarking your setups before you use them with real cashola. Rules based traders: benchmark your written setup rules. Know what to expect. "Defy human nature, do the work yourself." LP The mere fact that some setups are so simple and black and white make them easy for even the simplest 4th grader to test them, like the double top for example, that setup is easy argument proof benchmark practice for noobs. But less than 5 in 100 at most do this. You're not special. You are in the 95% group. Not a rules based trader? Great! Why would your competition not like that? lol What type of method do you give much merit? Why?
are you basically saying: "why is this guy trying to reinvent the wheel on entry points when we have some pretty basic, tried & true methods already...and all one would have to do was a little back testing to prove to themselves that they are effective...but this nut bag (me) is just part of the 95% of lazy bums not willing to put in the effort and therefor will remain a sucker and continue to lose money"?
are you basically saying: "why is this guy trying to reinvent the wheel on entry points when we have some pretty basic, Here's what I said: The mere fact that some setups are so simple and black and white make them easy for even the simplest 4th grader to test them, like the double top for example, that setup is easy argument proof benchmark practice for noobs. But less than 5 in 100 at most do this. You're not special. You are in the 95% group. tried & true - methods already... That determination imho must be made by the trader himself. I strongly suggest benchmarking your setups before you use them with real cashola. Rules based traders: benchmark your written setup rules. Know what to expect. "Defy human nature, do the work yourself." LP and all one would have to do was a little back testing to There are a few pages detailing this topic on ET, some of them mine. The good ones suggest carefully selecting the best population of examples represented by a meaningful number of cases to produce a suitable resultant performance probability within parameters acceptable to the person responsible for the creation and use of each benchmarked setup/trigger. prove to themselves that they are effective... To demonstrate within a band of reliability commensurate with the setup's definiteness of detail in the written rules, effective population selection, accurate execution. but this nut bag (me) is just part of the 95% of lazy bums not willing to put in the effort and therefor will remain a sucker and continue to lose money"? ymmv. Does that make sense zg? -- They got free lunch down at the Merchant's Lunch. They do all the work for you. Talk to Brenda. She'll do your stats for you...
I'm thinkin' these guys are not trading daily candles. lol If the traders that s0mmi references in his post above are in and out of interest rate futures products, for each reversal that happens in the market, they will have opportunities to react to several Continuation entries per Reversal. Common sense. Whatever timeframe candles you settle on, With Trend Trading using Continuation Setups might be a good topic to become familiar with, Research. Where to start? Right here baby... https://www.elitetrader.com/et/threads/interesting-search-terms.365486/page-6#post-5649850
Thanks, Ill get started on those tonight. And I'm not dead set on trend trading...or any specific timeframe...I don't think that what I am doing is the best because trust me when I say this, I know i'm not shit...its just the best I am able to come up with at this point. I realize I am going to have to level up to do well.