Even after decades, there's zero proof of profitability for Pesavento or other "harmonic traders." If you dig around for his track record, you'll probably only find this, which doesn't sound good. Ripoff Report | Larry Pesavento - Trad Review - Tucson, Arizona But I have to say...a self-defined "Holy Grail Seeker" asking for opinions (not hard data) on mystical trading methods. Talk about confirmation bias! So much for "elite trading."
Lol, I have no idea how Larry's ideas might test out. The point was, any technical hypothesis no matter how simple or abstract needs to be rigorously tested to determine if there is is indeed a viable and tradable edge.
Ah yup. Something real ... like a guy in a red horned cap and gown with pitchfork. No doubt in the West Village.
The concept of 'the Devil' is not the cartoony Hollywood version. It's rather the bad choices, influences, misdeeds, and misfortunes that eat up your soul, personality, health, wealth, purpose and conscious. If you did drugs, hit someone, kill someone, cheat someone...how will your life feel from that point onward? Not very warm, bright and fulfilling. Versus doing good deeds, All those bad things are collectively the devil, you could say. The devil got you, society got you, bad souls and demons and people got you, they turned you.
I use intraday Planetary Hours. In my work, planetary hours provide a directional TENDENCY BIAS, nothing more. My usage NEVER uses these tendencies alone as a trade trigger. Rather, they are used as only one of several inputs for directional signal. But when inputs align... Not all planetary hour progressions have edge, just like not all planetary configurations have useful or actionable meaning. The rabbit hole does not have a bottom! WD Gann and George Bayer are two pioneers of astro cycles.
Yep, and no doubt smart people get sucked into the black hole of mystical strategies and esoteric cycles and patterns. At least guys like Gann, Pesavento, Prechter, DiNapoli, etc. found ways to make a living off them...that didn't require profitable trading. Meanwhile some retail traders spent much of their non-working hours searching for Gann's mysterious "Square of Nine" with no profits to show for it.
Yes, it’s not the concept which pays the bills, it’s the trader. And taking concept to profitability is not for the underachiever.
I can partially agree. It's possible someone can be profitable trader using a bunch of esoteric junk--but only because they're a really good, intuitive trader who follows other rules and discipline very well. But that's only a tiny % of the retail trading population. And most of the successful ones are sharp enough to use concepts that have some statistical edge you can measure.