Extraordinary Unpopular Delusions...

Discussion in 'Psychology' started by Arthur Deco, Jan 21, 2010.

  1. ...and the Madness of Cliques (with apologies to the memory of the great Charles Mackay for the bad pun).

    Ordinarily I can let trading foolishness wash over me, as it is as common here as rain on a summer day in Florida. But this:


    made me split open my recent hernia incision laughing. So I decided to start a thread dedicated to the extraordinary lengths some people go to to imagine order where none exists. Starting with subtracting any gap from the chart, as in the above link.

    Am I dead when I sleep? Do overnight events, both internal and external, have no impact on my life? Is it not better simply to accept that the overnight session tends to continue in the longer term trend direction, and to retrace significantly and semi-predictably against it overnight, and integrate that understanding into your regular session trading? How jingoistic and Ptolemaic it is in the present age to assume that overseas markets have no influence on ours, and that the world's economic events still revolve around New York!
  2. How'd that work out with today's gap?

    Actually, I'm rather amazed you haven't performed a more thorough due diligence. If you had, your link would have taken you elsewhere. Before you fly too far off the reservation, I thought I'd suggest to you the possibility exists someone, other than who you believe, originated the thoughts you find so hilarious.

    Either way, nice to see you posting again.

    - Spydertrader
  3. Every time I run into something Hershey-related, I get the giggles :D
  4. charts


    Intraday, market internals dominate; daily and higher, externals do. See this link.
    ... it matters to what time frame you're trading. It's like black swans, God, etc.: if you didn't see them it doesn't mean they don't "exist" ... if you don't understand something it doesn't mean it's not so ... if you're laughing too easily you may look stupid. :)
  5. All kinds of people have all kinds of views. Their combination yields one pattern and the pattern affords a precise manner for the nesting of fractals. This makes it possible to always have the answers to the essential questions in hand. Google humpy, there are some charts there. The blank one is from 1957.
  6. Yeah you've always got the answers Jack, never asked a question in your life.. you are a braggart, a blowhard and a boor, all of which could be excused if you actually traded instead of living a lie
  7. Really Jack??? LOL!!!

    <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2704833>

  8. Today's lesson on self-delusion was inspired by this thread:


    wherein we see a brilliant mind which can see in hindsight that a test of the previous high was "fakey." My advice is to learn how to backtest to see how often that really works. A helpful hint: "Oh, my! I need to find me a lucky coin!" The same goes for "tweezer" tops, where it is easy to get pinched. With apologies to George Santayana: "Those who cannot backtest the past are condemned to repeat it."
  9. Here is another good one:


    Poster wants to know what a reasonable percent loss per trade is. And he gets advice based on arbitrary statistical considerations. Doesn't anybody backtest here? Oh, yes, I forgot. First you have to have a system!
  10. It's hilarious watching Spydertrader and Jack trying to tell everyone how to trade when they have never been profitable themselves
    #10     Jan 24, 2010