Where are the chartists' yachts? _____________________________________________________________________________ Forbes list - richest people in the world - ranked #308 of all billionaires on the planet. Started of as a grunt floor runner supporting a cotton futures trader. Self made technical trader - classic chart/pattern swing/discretionary. There are many of them around - try reading the original market wizards.
Dude, that's ancient history-- PTJ no longer uses TA like he did in the 80's, can you find anything other than ancient history in the wizard books? Markets are radically different now.. by the way, let me let u in on a secret--- truth is, PTJs heralded chart call of the CRASH OF 1987 was over a year too EARLY-- no one talks about this FACT. HOwever, he did still make a killing on it, regardless of the terrible timing by Pete on the chart--- Dont misunderstand, charts have their place in finding the context/visulazing the market or stock in a macro sense--- but they are worse than useless when it comes to actually making entry/exit decisions or predicting on a real time basis.
I don't see anything what you write about how to manage before you take a trade and yet you want to know direction, you have to look first to the LEFT of now or current price bars. So what I am asking, what should you look at that would stop you from taking trades? ROFLMAO OMG this is funny, dig into internet and check out Wheat charts from 1890s, except for price levels, you could not see any difference. Unless you are fairly new a trading, you just not traded long enough cause nothing is new except price levels and speed of trading, but the chart patterns are very much the same.
I miss Surfer, he was fun, the best provocateur I've ever known. Shame his entries were mostly mistimed, got stopped out a lot.
Dude, that's ancient history-- PTJ no longer uses TA like he did in the 80's, can you find anything other than ancient history in the wizard books? Markets are radically different now.. _____________________________________________________________________________ PJT is fanatical about TA - Heard this on an interview on 'chat with traders' from another top trader that worked with him recently. 2012 Forbes – #82 (wealthiest in the world) James Simons – 11.0 Billion Everything’s tested in historical markets. The past is a pretty good predictor of the future. It’s not perfect. But human beings drive markets, and human beings don’t change their stripes overnight. So to the extent that one can understand the past, there’s a good likelihood you’ll have some insight into the future. – James Simons