I have to agree here with these qualifiers that FeetFirst point out. This is in fact the critical difference that I struggled with between wanting to use Db's advice and wanting to use NoDoji's advice. For Db, observation, how price moves, how it behaves at a level is key, and so much of this is lost on a 1 minute chart. I tried looking to see if I could see this on a 5 sec chart, even a tick chart, and although 40D has shown some of this stuff, Db doesn't comment too much on these lower time frames. I would like to think that if the behavior is something that can be seen while watching the right tick move, then it should be something you can point to on a chart at the end of the day, and hence backtest. On the other hand, by following NoDoji's advice, you simply don't have to watch price move in real time at all. In fact, you can look up at your chart only once a minute because it doesn't matter what price is doing during this one minute bar, all that matters is what the one minute bar looks like after price has moved onto the next one minute bar (ie. how low did it go and how high did it go, and does this high and low mean anything in relation to the previous bars). This will tell you if you are going to place an order above or below this bar or not, which will either fill or wont on the next bar or the one after that. The beauty of this of course is that there is no subjectivity, and what you are looking for you can easily find in previous charts, and most importantly, you can test for this rather precisely. My reply isn't meant to say one method is better than the other, nor if one works better than the other. All I am intending to point out is that there is a critical difference between what Db and ND teach. So as ND comes to share her views about learning to trade, we have to keep in mind that her approach is vitally different from what Db shows, although as she has pointed out in the past, their entries sometimes happen at around the same time and price level.
A truth of the matter... There are technical tools to tell the past with the utmost clarity, these are things that tell you where price has been, where it was, what it did, and the current state of the market, this is what most of the mentors and traders in public forums teach or post. Now... There are also technical tools, including in price action, with predictive qualities. These are the kind that act one way, more often than not, and of this type I see very little in forums, especially in DB's threads. I suspect he does not know of them or is not willing to share, understandably so. Anyone who has not been exposed by finding them through thorough studies will claim, and rightly so, that technical analysis has no predictive or very little predictive value. ie Marketsurfer for instance Any technical trader in the know, should understand exactly what I'm referring to, others, will simply say, the person is full of it. Very rarely someone posts a golden nugget in ET but unless you are aware of them you don't know what you are reading, and you navigate the powerful information as if it was more guru stuff. Either way I thought it was important to state these very important distinctions in technical analysis. Last but not least anyone selling stuff is full of it.
Oh, are we talking about me again? How nice. As to sharing, I've been posting this stuff for nearly a year here, and longer than that at TL. Only four or five thousand posts. You must have missed them. As for "predictive qualities", that depends on whether or not the trader can draw a straight line and a box. If, for example, one has a range from 80 to 100 and price bounces off the bottom of the range, the experienced trader will understand and act upon the probabilities that price will reach the other side of the range, the box, i.e., 100. Like yesterday. That some don't grasp this represents a deficiency in their understanding and proficiency, not any lack in the approach.
Let me put it to you in plain English. I know of highly predictive stuff regarding lines and price action that you do not even begin to mention in any of your thousands of posts, therefore, I know for a fact your information presentation is incomplete. The reason for the missing information is what's not clear. You are either withholding it, to sell it behind the scenes or you not aware of it. My guess is you are not aware of it, because I would not sell any of the good stuff.
Why should I openly share what Im not even willing to sell? I am however notifying the readers your information is incomplete. For what is worth I have never sold a single thing related to trading or plan to.
Ah. Yes. Well. I see we're referring to that Super Secret Trading Plan That If Revealed Would Spell The Collapse Of Wall Street. I believe I've read mention of that now and again over the years. Didn't realize it was yours. Well you have yourself a lovely and profitable trading day tomorrow.