no need to apology, finn. differing interpretations of the data is what makes the market work. may i suggest "practical speculation" by niederhoffer and kenner for further insight of the ideas i am talking about. best, surf
perhaps the next one will be "how to be ranked number one in the world after blowing up". don't think anyone else can lay claim to this success in the annuals of the market.
I have to agree strongly with this - it is pretty tough to look at say a weekly or monthly chart of pretty much any market and not be able to define a trend as "generally moving up (or down) over time - making higher highs and higher lows". But since there are so many 'trends within a trend' depending on your timeframe traded, it is pretty hard to objectively test.
This goes for everyone contributing here: Feel free to speak/debate about trends and their attributes. That is part of the reason I started this thread. At the same time, please do not argue and get off topic. As for the journal update: Two positions are still open, ESCL (+1.95%) NRPH (-0.12%) *percentages indicate change from my entering price. I am still using stops at -3% and taking profit at +3%
thank you, runtrade. sure, one can see trends on a price chart. however, stating that higher highs and higher lows can be bought thereby increasing your odds of a succesful trade is not accurate. the odds of a percieved trend continuing after entering are consistent with randomness when tested. best, surfer
How do you test someone's "perceived trend"? I believe the variables for all the different interpretations of trend are too numerous to test - this probably accounts for the randomness.
let me know if I am understanding you correctly... If you enter an existing trend, the chances are random whether or not it will continue? Therefore, the only way statistically to be profitable from a trend is to enter before it begins?...which would mean that you would be trying to catch the knife and all data I have seen from that is that it is negative LT expectancy. How do you approach trading then?