His statements are those of someone who clearly spent a lot of time studying price action and developing a plan around it. Like Rask, my trading also uses a signal time frame and a smaller entry time frame (thanks RN), trades off "pivotal moments" (thanks, Austin), utilizes stop and reverse under certain conditions (thanks Al Brooks for failed failures and failed failures that fail, lol), and takes advantage of the momentum that occurs off patterns that trap traders (and thanks Brooks and Volman for traps and double pressure). It's all textbook stuff if the textbook you're reading is Brooks' or Volman's, or if you spent thousands of hours figuring out for yourself what kind of price action surrounds tradable price swings more often than not.
I can vouch for NoDoji's helpfulness and knowledge! That is for sure. She knows price action VERY WELL. Most helpful person I have ever spoken with regarding trading for sure.
This is one of Nodoji's favorite ET posts to send noobs to, TA done in real time. http://www.elitetrader.com/vb/showthread.php?threadid=148752
not one of the TA crew have stepped up to the plate to prove their claims in real time. including NoDoji-- there is only upside if what she can do, matches with with what she does ahead of time-- upside for everyone-- yet, still all I hear are excuses. Ask yourself why. surf [/B]
Are we going to talk about the wisdom of finding a trading system using 1-minute bars again? Why walk newbies along THAT cliff's edge. Whoa the prior 1-min bar broke the low! All in! All this failed failure stuff seems very Hershey-like. FTT. Analysis paralysis. Is Al Brook's even profitable? Maybe with books with a list price of $75 and mentors readily available on every trading forum. Show me a super scalper 1 min bar trader who is successful. (Not DOM.) I write and rework strategies most days. On the list is to write a system that proves it doesn't work if the L[0] > L[1] and if O bar > O bar of prior bar and prior 2 bars greater than high blah blah blah. The thing is, the secret sauce is this: Nothing works all of the time and somethings work some of the time. Some strategies get out-of-sync with the market. You re-optimize or throw a MA on the equity curve so you know when to start/stop trading (trade the slope). i.e. stop staring at the 1 min noise trees and look at the forest.
I absolutely approve; however, I do not know lilbit, so s/he is not my student. Our only contact was a few PMs centered around Geez' old journal. I don't think lilbit trades futures, so if s/he will act as my proxy I need to either find out if lilbit's trading style is similar to mine or provide a crash course in how I trade Austin is a pure technical trader who appears to have stepped up to the plate. Are you writing him off for some reason?
You keep saying "only upside" but it's only downside for those of us who enjoy anonymity and do NOT need funding. You are just being a broken record here.
As is Maverick74. ACD is reading price action and volatility based on prior price behavior, measured by price history in <i>charts</i>. It's been documented in plain sight here, and it's got real solid logic to it. Mav, like you, deserves an overwhelming amount of credit for what he's done, aside from his own personal integrity. But I'll say it again, Goodboy will ignore all evidence to the contrary, because his objective here is not a rational discussion about whether past price behavior can be used to take positions with positive expectancy. He has no choice but to ignore how Maverick74 or austinp trades.