If you want to fail as a trader, study TA

Discussion in 'Psychology' started by The Expert, Apr 27, 2010.

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  1. BTW, elliot waves are rubbish, just in case anyone was thinking of going off and studying them after reading about wave 8:eek: :D

    GOD FORBID, we will have gann mentioned next, and who knows WHO else:D

    TE
     
    #581     May 14, 2010
  2. Is that green puke I see:D
     
    #582     May 14, 2010
  3. What were the low risk entries for BDX, and WHY:confused:

    TE
     
    #583     May 14, 2010
  4. Please show us the BOB in the BDX chart:confused:

    TE
     
    #584     May 14, 2010
  5. Traduk

    Traduk

    T.E.,

    With BDX your lines fantastically delineated both areas of sideways action. Without knowing how those lines are arrived at a four year old could click\click and place lines that would look equally as good.

    You have never made a call in advance of any move and any charts shown are always not only after the fact but as usual devoid of detail.

    Why do you keep showing BDX. It is\was a $75 stock that has moved a huge $3 and spends most of its time going sideways in moves that would drive a daytrader to the point of losing the will to live. It is a useless candidate for daytrading and runs totally contrary to your often mentioned time=money.

    There are an awful lot of things that a trader would have done if as you have done, aim to seek an audience. It is nearly three months since you appeared in a self proclaimed fanfare and in the interim you have done nothing to even hint at worthiness for your handle.
     
    #585     May 14, 2010
  6. I see no good entries, probably because I don't have a clue what to look for.

    Jumping in at the open would have been great if you were psychic and put a random stop loss in since there was really no point of reference as to where to put one.

    I have no idea what those horizontal lines are. Tried correlating them to something, but it's just not happening.
     
    #586     May 14, 2010
  7. Re. horizontal lines, I'd hazard they're just plain and simple consolidation ranges.

    Actually this thread is getting pretty big now, including the original thread at the site TE doesn't like to mention. It would be nice to get down to some substance for once.

    Good to hear from you Traduk...

    TE, I'm going to take a guess at your method:
    Range break outs based on accumulation / distribution... so, pretty much Wyckoff...
    Do I get a silver star?
     
    #587     May 14, 2010
  8. Lets see how many traders will actually apply this.:)
     
    #588     May 14, 2010
  9. odlareg

    odlareg

    Look at BDX today, notice anything

    I believe the most noticeable fact is: yesterday late it fell out the earlier range, a new range.

    Let's assume this last range of .25 to be considered the risk. The price is entering uncharted territory. However this is partially true. I see demand at € 73.66 (closing price) on weekly chart. Demand level Intraday might be different. Cannot see however.

    Maybe the following is not relevant: I noticed the opposite a few times, I mean out of range to the upside at he end of the day. Other stocks at the end of day. Kind of pointing the possible direction for the next day?
     
    #589     May 14, 2010
  10. I assume the Prof is recommending a fixed method or system of analysis.

    When I wait for my regular set ups I tend to do well, whereas if I start taking trades (usually out of boredom) based on other analysis methods (you could say randomly) I tend to not do so well.
     
    #590     May 14, 2010
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