Time for a review on real TA price drivers that 1) drive PA in the correct direction and 2) move with the duration expected. Let's get a reminder on what surf asked TA to do in this specific set up (hence my posting it here) and how it compared with his price drivers... ====================================================== What is your chart telling you about Monday? You TA folks speak in riddles that can easily be interpreted after the fact to mean anything. Please be specific. My Price Drivers are signaling bullish for Monday. I maintain, once TA shows it, its too late or of negligible value in MOST cases. Enough so to negate the value of such an approach. Clearly, it can be shown in a very small number of circumstances to have value-- such as the daily candle in JCP-- but its not repeatable enough to be of interest. surf It is telling you the welcome mat has been replaced by the trap door. It's not talking about Monday, it's talking about now - take profits and reverse short. You hold that short until you get a buy signal and that might be on Monday. It might be in a week or a month as this has the potential to roll through a lot of time frames. This is a dangerous position to be long imo because of the roll over potential. In any event bank profits, sell short and wait for the buy signal. Xspurt ====================================================== Shortly thereafter surf discovered his doubled up long long trade was price driving the wrong way, but what about my TA call that this 2 hr set up was indicating the potential to run from intrday into daily and from daily into the weekly bars? That would be of great value if a price driver not only gave correct direction immediately but that tiny intraday set up was also pointing for a hold right through into the weekly charts. To answer your question surf, as can be seen from the attached chart, PA did indeed roll through the time frames into the weekly charts. Friday closed on critical support and in an election year when they manipulate everything they can to support the market the plunge protection team will be on hand. However there are a few things to note: this is a very negative chart pattern calling for much lower prices when the support breaks and Fri 19th is the anniversary of the Black Monday crash of '87 and there is a history of panics repeating. Friday late closes need to be watched. The action now is either to take profits or better still, go into the same mode of analysis as started the move and look for a reversal up to catch the pop or if the support breaks continue holding. (Chart left is the 2 hr set up and mid chart is the daily, both charts posted in this thread and right is the 2 week chart)
Yup, it's basic trading 101. But perhaps the price drivers were aware of this and he just interpreted the numbers wrong...again
Obviously, the PD's were 100% wrong on the move-- the system is still being tweaked, its not going to be correct all the time. By the way, shouldn't you be back managing your "clients" on the stealth vendor thread? You do know that advertising here for free is against the rules, why not pay for your marketing? <b>uote from MillieJ: that is correct!!! i am following you with one of my demos, and i like your trading, meaning losses do occur but if you minimize them like 2 or 3 pips, notbody do take notice the 4 bucks loss when you think about it. actually it is all about discipline! Thanks. After some experimenting break it seems I have found a solution. Hooked my "CornixForex II" (http://www.zulucom/TradeHisto...aspx?pid=118228) provider account to my own MT4 account via order/trade copy EA and now everything is done with a single button for me, my clients hooked directly through Alpari UK and Zulutrade (as long as EA works well). As for little slippage et cetera for some users... well, one better choose brokers with tight spread anyway, no need to feed greedy ones who still have EURUSD spread @ ridiculous 3 pips. </b>
Read or write? is this metaphorical? Real traders lose, and they lose a lot. Remember, sometimes one's entire year is made or broke by just one trade or series of trades. These "churning monkeys" who claim never to lose or suggest that, then refuse to publicly demonstrate are either sneaky salesmen, or poor deluded souls who have found a place to shine where no one questions. surf
A stealth vendor who is on elite fishing for clients for ZULU trade LMFAO! Another multiple system operator who only "shows" the winners after the fact. the programs that fail are not exhibited to the public. He can not compete in public, on the Combine, since there is no room for subterfuge or chicanery.
Nah, I can take losses in trading. I am just tired of stealth vendors working the surf reports for clients and followers. Clearly I was wrong about the directional move arriving in the stock. Time to move on...
I don't think his comment was about taking a loss, but more about the very basics of knowing when major mkt moving news is about to hit the stock one is trading. When I'm trading the SPY, occasionally I'll get a trade setup 15 mins or so before a FED announcement and I'll bypass the trade because of the proximity to major market altering news. My rule is 30 mins prior to major scheduled news, I do not take a trade. The only exception is 9:30-10 when the rule is 10 mins before a 10am number. This is something that I learned the hard way long ago, like I'm sure most people do at some point in their trading careers.
I see you got really insulted by my remark about blind gambling aka directional trading right into earnings. Now seriously. Your accusation is absolutely illogical, because even if I have some other systems, the track record I show is continuous, public, live, third-party provided etc. In other words it's REAL and impossible to fake. And you simply cannot deny this fact... Well, actually you can, but once again you will deny reality. As for being stealth vendor, Surf, you are not ET owner. You are just another member, nothing more. So let Baron decide what is against or not against the rules, I think that's much more fair. Whenever moderators warn me about violating any rules, I try to correct my behavior in order to meet them. But not mentioning my own trading would simply mean I have nothing to post but in chit-chat section. By the way your statement about the "stealth vendor" is especially funny since it was YOU who told me this: "Better yet, why not enter one of the numerous FX dealer contests, open up a collective2 account or other 3rd party verification site??? Show me the results from this, and I'll take a closer look... surf" http://www.elitetrader.com/vb/showthread.php?s=&postid=3594096&highlight=Collective2#post3594096 Or probably you were hoping that I piss my pants and try to avoid the offer? No Surf, not this time, you met the guy from Siberia, you can run but you can't hide. P. S. All in fun brother, I have no real negativity towards you and wish you success by all means. P. P. S. I also started trading live account for one quite old ET member and soon start managing money for a few more, so there are real people who can confirm everything I say about trading.