the mans following his system i'm sure if it didn't work , he would have blown up by now since his last journal was 3 years ago
thank you, cool. as a note of clarification for the allegating dow theorist earlier -- i don't trade the YM dow emini with the system, but rather the DIA. furthermore, the DJIA has not hit 10500 since the projection was made on 10.18. holding shorts here into the open. best, surfer
First, what I stated was not an "allegation" (allegating is not a word). The great part about those that want clarification is that all they have to do is read all your OWN comments in this thread. I appreciate your clarification on your "prediction" but the two Markets are alike on movement, just vary on range. The current top on the DJIA is 10434.70 where the YM is 10456.00. The bottom on the DJIA is 10156.46, where the YM is 10178.00. You make it sound like the Markets are diametrically opposed. The DJIA will pull back at some point here in the near future but don't take credit for a wonderful "prediction" when you sat through a 100 point drawdown to get there.
I have followed Dave's strategy for 6 or so months now, and it is profitable, when he sticks to it. He has actually a very good quality and that is to make it purely mechanical. When he does that, he is doing fine. This last time when he went short at 10297 and got caught in a big rally, he simply overrode his system based on a feeling or what. That was clearly stupid, but he had the patience of waiting it out, (and luck too) and although the market ran against his position by 120 points or more, right now he is back at breakeven, if he really left it open, and I don't doubt his word. Now about Dave's predictions. They are a different matter. Charlie is right, and Dave had a few bad calls. But that is completely different than his trading strategy. I posted as an advice to him, trade the market, not your expectations. As somebody pointed it out, if Dave system hadn't worked, he wouldn't be around for 3 years. So Dave should stick to his proven and profitable system and keep his predictions to himself...
The Good Man.I have lot of different things I could be pursuing on the trading front, but I am here for a reason.I have been following Dave since Clearstation,a long time ago, because I have and continue to witness his custom Gann Channel do 95% plus accuracy.Frankly,the biggest blow-ups I have seen here is NOT with the use of the Gann Channel but when it is deviated from.When Dave does that I tend to vacuum the carpet,update and run computer spyware updates and perhaps tidy up the garage,that sort of thing because I can't bear to watch.Remember when the bubble bust and there was a 2-3 year bear market when most of us where roasting on a bear campfire?This system was hitting short triggers all along the way at channel bottom!If you are new here,focus on managing the position after you enter it and not weather the system works or not.DOW just bounced off bottom channel.
thanks, pekelo and peter. OH YEAH !!! the shorts turned positive today and the expected retrace is continuing. holding shorts here. surfer
VICTORY ! total retrace of tuesday DJIA rocket upride. Decision has been made to hold overnight into friday morning. surfer
doubters owned. hahaha losers Its pretty obvious, even if you or I don't trade like market surfer, I'm sure he knows what he's doing Good trade surfer!