Then perhaps I misunderstood, but you said: "Can't speak to Emini But in Slugar's cased - you're an imbecile" I thought you had a typo and meant to write "but in slugar's case", which I translated to "according to Slugar". Perhaps that was a bit of a stretch, but I simply didn't understand how else to interpret this. But if its you calling me an imbecile, then this is even worse as you have always tried to defend traders on here trying to learn, so why you would come right out and say that I'm an imbecile I don't know. All I said was that I didn't find Emini's questions useful at the moment and slugar's comments as well since they aren't trading with real money for the most part. I said multiple times that I mean no disrespect, and I said that whatever they might have found useful to them might not be useful to me since this trading business is just so personal. I could have ignored their comments, but thought it was better to just address them and be honest with how I felt about their comments. So if you think that it is appropriate to call me an imbecile because I didn't want to address their comments and just stated that I didn't find them useful to me, then so be it.
I personally don't find it all that helpful to twice call someone out for not understanding something. I also don't find it all that helpful to drop a tease about having some inside information about someone on here who supposedly is posting just to stroke their ego, continue the tease by saying that it will become obvious in the near future, and not actually share if you think you actually have something beneficial to share. In this case, its almost like you're just stroking your own ego by being privileged with some important news but not sharing with others to main this upper hand.
k p, imo it's obvious redneck means no harm. He's here to help. This particular case you site is simply a case of using a shortcut to get you to reflect on the things you need to be reconsidering. It doesn't matter, what matters is if you get the message that you're judgement of the worth of slugar's post is so incorrect .....that you need to reconsider it.
The problem is that I don't want to be trading patterns. I haven't tested them myself, so I can't say with certainly which work and which don't and their respective win rate, but this is simply not the way I learned to trade so it wouldn't be very beneficial to me. My problems so far have been taking trades that I shouldn't, that have in no way been setup properly based on what I am looking at, and at the same time, not taking trades that I should. So switching to look at something else would still in no way help with the issues of doing the right thing at the right time. Just quickly looking at some of these diagrams, many areas that are good to get in I already know based on what Db has taught, so these aren't that much of a surprise anyway.
It's not a matter of adding one more thing to look at. It's a matter of getting rid of everything that is extraneous and of achieving clarity. Plotting a simple MACD accomplishes both. Defining your edge is of course important. But that's what you've been trying to do for 1400 posts. I'm suggesting that it's time to come at the task from a different direction. At the very least, just try it. Actually this has little or nothing to do with me but with Wyckoff, but since few have ever heard of Wyckoff, these patterns appear to be something new. The "phoenix" pattern, for example, is just a climax low followed by a test that results in a higher low. I agree, however, that patterns are not a road down which you want to travel. If patterns were all there was, success would be a cinch.
Here is slugar's post again: "My opinion kp is many are making this way more complicated than it has to be. Define your edge. Have an entry rule a stop you place in case of an emergency. A target of where you think the market will go. How you are going to manage your trade and a point where your edge is no longer valid and you get out. Take every trade where your edge is valid and get really good at taking small losses. You can always reenter." He sums up the entire world of trading in several sentences... how on earth is this helpful at all? I even gave a better account of the entire market where I brought into it the idea of a trending and raging market. Seriously... I never said he was wrong, I just said the advice wasn't helping and I didn't want to reply to it. Ending off with "you can always re-enter" is of course an option that covers every possible scenario. Everything that he says has to be tested and better defined, so in a specific sense, none of this is useful. His post is the equivalent of mine on how to bake a cake. 1. Buy some ingredients. 2. Mix them. 3. Put in the oven. 4. If it doesn't work out, you can always start again. So seriously, no disrespect to slugar, but to say its easy and reduce trading down to 3 lines is a bit incomplete. Once he throws money at this and is consistent for a few weeks then I am more than willing to discuss trading with him some more, but I'm sure at that point, he will also have a huge set of rules of what to do and not do and when and where, which will make this initial advice highly incomplete.
I don't get what that means in that first sentence, but I suspect if you leave ego out of this then there is something of value in those posts, particularly if there were posts I clicked the like button on. The purpose of a "dig" on someone is to get them to think, not to make them feel or look bad. It's to bring light to truth so it can be known (by you). If anyone is confused at this moment and not understanding something, then that is me. I have been multi tasking and I prefer we just move forward rather than bringing light to the truth that I don't understand so it can be known by me. But if there's something you feel I must learn then I am happy to revisit all the details that I've already left in the past. I don't have any ego in this conversation. It's important everyone learn to judge the merits and intent of others. That is the primary reason I have nothing further to say about that heads up. I have a secondary reason but it is definitely a tangible valid reason that again has nothing to do with ego. That secondary reason is something everyone gets to learn on their own for themselves also.
Oh gosh.. I just looked up a simple explanation of MACD and I don't like what I see. I don't like that the crossover of the lines is telling me to buy/sell. I mean if I can't trust myself, my own testing of when to enter a trade based on something that is in the market, giving control of this trade to two lines crossing seems misguided. It would perhaps be a much easier job of doing a statistical analysis of when this crossover results in a profitable trade but I honestly feel that its distracting to look at. I certainly like the idea of looking at this from a different direction, but I think the better course of action here is to figure out why I'm not doing what I should be doing. If its fear because I'm not sure of what to do, then I must backtest more. If its fear of losing money, then I need to test it more to prove to myself that a series of trades will result in a profit since I fully accept that the result of one trade means nothing. If anything, by being completely free and open, the fact that the trade didn't work should make me start thinking DTDB or a possible re-entry, and if I don't know, just standing aside. My two bad days, Thursday and Friday, I know exactly how they could have been good days based on the chart. Yes I didn't quite arrive at this in real time, or didn't do anything about it even when I knew, so I have to explore why. But its right there on the chart and I can explain it with confidence... I just need to learn to do this in real time.
KP, I'm not consistently profitable. I will be. I don't know if you'll listen to me, but I'll write here again because I see you going back and forth with people who are simply trying to help. Many have given you great advice. Many of the best, many of the greatest accomplishments in this world, were achieved after a period of removing one's self. They decided it was best to refocus/rejuvenate/reorganize/REST....create a new plan of attack, because the old one wasn't working. I don't think you are starving, without a roof, or clothes... The market isn't going to disappear if you relax. Should you choose this journey...a break...spend it with you...in your own head. Not here. Not looking at charts. Not trying to define a range. Nothing. If this truly is your passion/desire, a pause/break/rest will only make you stronger. It will only make it more clear. "HOW" you get there, might even pop into your powerful mind during this time. If I've learned something that's fact about this biz.....you don't always have to play. I learned this the hard way. Now I'm having to unlearn my bad habit. You've got some unlearning. Take a break and I wish you the best. -JS
There are nuances embedded within slugar's post that you're not considering. For instance how are you going to re-enter? Instead of complaining it's not defined for you, simply realize u need to define it your self. "get really good at taking small loses". You must get out of this mode where you're unable to see the brilliance in that, and then follow thru by developing rules that implement it. Please stop the rebuttals to everything that's being offered to you ... and begin ...