The Trouble With Scribbles

Discussion in 'Technical Analysis' started by Buy1Sell2, Mar 30, 2015.

  1. Buy1Sell2

    Buy1Sell2

    Here is a chart posting from a scribble student going through forward testing via replay right now. I am not calling this chart up as a personal shot, but just as a demonstrative tool. I think that it's very telling that the horizontal scribbles on the chart ( and in the next one that I post) really don't have a lot of bearing on the trade decisions, but really take a back seat to the more dynamic diagonal lines. In fact, the horizontal probably should be totally removed.
    [​IMG]
     
    #411     Apr 13, 2015
  2. Buy1Sell2

    Buy1Sell2

    As can be seen here, as it was in the prior posting, the more dynamic diagonal lines take precedence. The horizontal scribbles do not have any relevance to trade decision making.
    [​IMG]
     
    Last edited: Apr 13, 2015
    #412     Apr 13, 2015
  3. dbphoenix

    dbphoenix

    I must have missed where any of this was pointed out in real time, much less in advance.

    Key words: "could have been".
     
    #413     Apr 13, 2015
  4. dbphoenix

    dbphoenix

    For those who are interested in comparing a rules-based approach that can be planned in advance to what the OP presents:

    upload_2015-4-13_22-56-18.png
     
    #414     Apr 13, 2015
    damnpenguins and fortydraws like this.
  5. dbphoenix

    dbphoenix

    So much for the notion that the overnight action is irrelevant:

    upload_2015-4-14_5-44-43.png
     
    #415     Apr 14, 2015
  6. dbphoenix

    dbphoenix

    Posted yesterday evening:

    No response so far, which is unfortunate since we have plunged to 4387.
     
    #416     Apr 14, 2015
  7. dbphoenix

    dbphoenix

    An update on last Thursday's chart:

    upload_2015-4-14_6-5-26.png
     
    #417     Apr 14, 2015
  8. Wow, these folks truly believe that thry can make money by looking at past price charts most traders outgrow this notion early. Some never learn, i guess.

    Maybe there are a few intuitives that can do it. I have no idea. They do seem obsessed with showing the world they can do it with non- stop claims, charts, and posts.

    An easy way to show this working is to post a video of the chart as the trades are taking place. This is a simple procedure done with free software--- this would at least show that the proponents of the auction market theory and or price action can do it.

    We will never see this because what is being posted is pure fantasy supporter by wordy psychobabble.

    Come on, prove the real trading world wrong. Let's see a real time video of this method in action for just a couple of hours..... Here come the personal attacks, excuses, and all sorts of cop outs.

    The Likely excuses--

    1. The critics should do it not us

    2. I dont have the time.

    3. I dont make claims.

    4. I dont know how to do it.

    All truly weak excuses.

    surf
     
    #418     Apr 14, 2015
  9. dbphoenix

    dbphoenix

    Which has been done, which few people pay any attention to, which are soon forgotten. After 15 years, you ought to know that. Posting the trading opportunities in advance is more effective in both the short and long terms, at least for those who know what's going on. If one knows the rules and applies them, there's nothing particularly difficult about any of this, especially for a beginner.

    What would be even more interesting is for you to post exits for your "price driver" entries as well as entries for your exits. Now that would be something to see.
     
    #419     Apr 14, 2015
  10. dbphoenix

    dbphoenix

    An example of equilibrium:

    upload_2015-4-14_8-5-22.png
     
    #420     Apr 14, 2015