The Trouble With Scribbles

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

  1. fortydraws

    fortydraws

    Last thing ... I've done little charts like this in the past, and those who find trouble with scribbles find trouble understanding how such exercises could possibly be useful. And yet this is the basis of how I trade: Find the range, trade only at the limits, and trade based on what the market does, rather than what I think it should do.

    Also, I was filled at 6.75 and I am now out of just over 1/2 of my position as I balanced due to my late entry. I'm going to use a - 2 tick stop loss (just below the news spike low) as a hard stop.
     
    Last edited: Apr 16, 2015
    #511     Apr 16, 2015
    dbphoenix likes this.
  2. dbphoenix

    dbphoenix

    And a little context:

    upload_2015-4-16_8-40-30.png
     
    #512     Apr 16, 2015
    fortydraws likes this.
  3. fortydraws

    fortydraws

    Another trouble with scribblers is they always want to know where the half way point of various swings and ranges and hinges are. This is because this provides them with "information" by which to "judge the market by its own actions." Sounds ridiculous to some, but not the scribblers.

    Range Study5.JPG
     
    #513     Apr 16, 2015
    Brianharvey likes this.
  4. fortydraws

    fortydraws

    Alright, now you're just creeping me out ... it's as though this scribbles method is somehow ... objective. Either that or it is some weird sort of paranormal activity or "cryptoTA" or something.
     
    #514     Apr 16, 2015
  5. dbphoenix

    dbphoenix

    And of course . . .

    upload_2015-4-16_8-51-26.png
     
    #515     Apr 16, 2015
  6. dbphoenix

    dbphoenix

    It's magic.
     
    #516     Apr 16, 2015
  7. fortydraws

    fortydraws

    Crouching tigers usually spring up ... usually

    crouching tiger.JPG
     
    #517     Apr 16, 2015
  8. dbphoenix

    dbphoenix

    One of the advantages of trading a longer bar interval, of course, is that one can take advantage of trades that occur whether one is in front of his computer or not. One may not gross as much this way, but he can't earn anything at all if he's not in the trade.
     
    #518     Apr 16, 2015
  9. Lest it goes unsaid, 40D made a real time call, explained it and executed it.
     
    #519     Apr 16, 2015
  10. Buy1Sell2

    Buy1Sell2

    Here is my analysis of the 15 min NQ chart frpm yesterday. First trade stopped out for a gain and second trade exited at closing for a gain. No shorts yesterday on the 15.
    upload_2015-4-16_9-8-32.png
     
    #520     Apr 16, 2015