In the present downturn in the markets, I predict that one class of trader will survive and prosper: the geriatric set. Why? For three reasons. First, they have been trading so long that to stop trading is to invite death. They live to trade, not trade to live. Second, they have more money left than other traders just because they've been alive longer. Third, young punk traders have already broken their piggy banks to "buy at the bottom", and are now out of the picture competitively. So it is my great pleasure to share with my fellow gerries a new system I call Senior Concentration Trading. Catchy, yes? The chief benefit of this new system is that it matches the ability of seniors to attend to the market, what with frequent need to piss through swollen prostates, to take their Senokot, or to change Depends. Ten minutes is the ideal bar period to match bathroom breaks. It has the further advantage that there are only 39 bars in the normal futures trading day. So with shoes and socks off and a full length mirror, even the most senescent among us can count to thirty-nine, allowing for the odd toe or finger missing from gangrenous gout. And there is no need to guess at tricky trend lines or interpret fickle volume Gaussians (or Poissons or Rayleighs, for that matter). Just watch the scary horizontal lines. Price is afraid of them. If you see price shy away in terror from one of those lines, you simply trade in the direction of the anxiety relief (the market gets the runny shits just like you do from the least little start), until price gets scaredy again. What could be simpler? So join me in a Metamucil cocktail, shove that dreamy laxative up your ass that you smuggled past customs on your return from Paris, and trade SCT with me!
that's a Hypo calling card, LOL. <img src="http://elitetrader.com/vb/attachment.php?s=&postid=2105637">
IMO what you offer the gerrie set is far too complex for minds beset by early onset dementia, or late onset adolescence. My Ternary Decision Theory system (red light stop, green light go, yellow light go very fast, to quote Starman) is far simpler to comprehend and act upon. It is especially felicitous for those who find the frenetic pace of the five-minute bar entirely too stressful. Then, too, ten-minute charting allows ample time for rambling garrulous incoherent loquacity in ET posting. And should one croak in mid-bar, the leisurely chart pace allows the happy heirs to unravel the position at leisure.
It's a good word, look up it. But now you've ruined my punch line. I was going to mutate it into lowquackery in a sentence about an ET luminary (other than myself).
Merchant's stuff is crap. Compare mine to yours. No guessing. No ex post facto line drawing. In fact, no thinking at all. Red. Yellow. Green.
Shut up, Doaks! It's cold thin porridge for you tonight! Sevenfirs, can you tell me why, of all 156 horizontal lines on my chart, you chose to put your second short at only one? Sheer chance, one supp-hoses. Means nothing. Nemmind.
Merchant, you old fool! How many times do I have to tell you that the failing of smart people as traders is that they overcomplicate everything. You gave them 156 choices in your chart. I gave them THREE!