Thanks for extremely intelligent analysis Market Surfer. You have given the exact answer for WHY Constant Volume and Range Bars (my choice) are the truely perfect tool for traders to measure price action ... all anyone with a modicum of intelligence has to do is just take your arguement and reverse its logic. Boy, I sure to love being at ET, it's a traders haven. Jimmy Jam
Given the manner in which surfer trades (I'm reluctant to call it a strategy) and given his performance (all these years and he still can't get it right), it's easy to understand why surfer not only cannot understand what ProfLogic is talking about but also that he is so envious of PL's results (envy manifesting itself as hostility). LC
Actually, any two numbers can be in a fibonacci sequence. Try STARTING the sequence with 56 & 90 instead. Run the sequence out a couple dozen times and divide the last two numbers. What do you get? Well, .618 of course. Beautiful isn't it?
The thing is LC, since he is so adamant about being this way, I honestly believe he thinks what he is doing is a valid trading methodology (ok fine, it's speculation). Furthermore, with a huge selloff like we're getting in the Dow, it's hard to prove him wrong - hell, even a broken clock is right twice (which is pretty much his track record for the year) . Jimmy Jamster
That's a pretty big word there Surf, but I'm just going to apply the simpliest concept to explain what I'm talking about. When trading, time doesn't matter and price does. Get it? JJ
im not hostile in the least.... i like proflogic, just his methods/ideas appeared flawed to me-- in addition, a cursory read of my trading history since 2002 on the surf report---with entries indicated prior to the fact--- clearly indicate a modicum of success---so what on earth are you talking about. not even mentioning the killer feb trade, and catching the big down wave presently, as documented. surf
ok, then why use charts which require time to have any meaning-- cause without time, they simply will not move as there is nothing to move thru. there is a logical flaw in discounting time when trading in the manner proflogics charts say he trades. make sense?? surf
thanks. yeah, this year has been stressful due to being early, requiring holding thru some nasty drawdowns--- but our macro analysis has proven to be right on the money( nailing two monster moves) , although the "timing" of the "price" certainly could use some improvement. best wishes, surfster
That's the whole point surfman, time doesn't have any meaning when analyzing price action. Pull up a chart and remove the component of time and you'll see price action in its purest form ... hey I don't need to convert nobody here. I'm just letting you know what time it is. JJ