It's all that anano-tech stuff...the newest in TA. One uses an annotater which can be purchased at the ET virtual mail store. It has revolutionized the way we look at charts in our community. Hypo might be able to explain better.
[lech] Ah my dear, you have not had the fortune to meet a skilled and attentive Anna-tator. [/lech] Some people project lines on charts in the deluded belief that they can coax price to stay within what they call a channel. When price doesn't cooperate they just draw some new lines and pretend they knew the change in direction was coming ahead of time. Occasionally price will randomly bounce off a line and a chart annotator will almost wet himself with excitement. Annotation can also encompass adding cryptic TLAs, lightbulbs and other assorted pointers to make it incomprehensible to the uninitiated. The mantra of the annotator is "its better the spaghetti is on the screen than in my head".
its all subjective isn't it? I really enjoyed your post Pointone. By the way is there a deep and profound meaning behind your name?
Subjective? Well in that case you'd expect the charts of traders following the same rules to look very different. Do they? I think there is a body of work in higher mathematics that proves you only need 2 points to objectively draw a line and a third to define its parallel partner. A point 1 is just one of a narrow range of entry prices that by definition stays in the black until the trend ends (with another point 1). Point 3's are good too. They stick out like sore thumbs in hindsight. Most people cannot see them in real time. They're a good safe place to reverse so it pays to try and id them in real time, NUTS as that may sound in the probabilistic risk/reward convention. Talk like this inflames emotions, so I should stop now. Where's the KoolAid...
Hmmmm. Talking dirty brings in the traffic. All these visions of breathily heaving gaussians are making me sweat. The market IS just like a lover. I know she takes a lot of my money for not much in return.
As I sit here patiently waiting for the market to test my evolving codes for me (it is President's Day, and NQ is ticking over once every other minute, plenty of time to discover logic errors and debug), I am idly thinking of ET IQ tests. I thought to myself, what does ET want most? So I did a search. The results: "free" 44991 hits "profit" 37378 hits. I rest my case.
Interesting. "win" 17661 "loss" 30533 "edge" 16073 "smart" 12247 "loser" 6597 And really telling: "price" 78772 "volume" 37559 "price" AND "volume" 10780