Why Is The Obvious Not So Obvious? in my humble opinion. because we are looking for what we want to see. fear and doubt can cloud reality. one must learn to believe and trust one self. we get what we focus on.
'Just make sure use the box, to keep on your socks' I've been trying to make sense of these posts by nysestocks, but things are not clear - which seems to be the intention. What box is being referred to here, something like as illustrated in the picture, anyone got a clue? If I've got this right then put a box around recent accumulation area. For long position enter when/if price goes near the lower part of the box near the red line, exit for a loss if price drops below the box, or exit for profit when/if price goes significantly above the box. Similarly for a short entry with obvious changes.
sounds like a box setup. I got my first exposure to the box from Darvas. From some observation, currencies work well with this setup because they can trend nice from sideways action. This poem reminds me of some Gann type writing, where the purpose is to make the read a challenge because the writer does not want to give Pearls to swine, similar to Jesus' use of parables.
also Constance Brown in her read Fib Analysis describes that multiple fib ratios can create what I had coined "IronBoxes" These are key fib areas that represent entry signals and stop zones. if the price actions comes Up out of the box the bottom of the box is the stop area. if price action fall through the bottom of the box, the top is the stop area. use multiple fib lines. measure from the same starting point to multiple break outs or break downs and notice where the lines converge.
Thanks for taking the time to reply, it is appreciated. But what you say doesn't seem correct to me as looking at the posts of nysestocks, The Expert and Mr Charts, they don't mention fibs and dismiss the conventional TA stuff. These/this guy/s seem to be different facets of the same diamond - perhaps the same person. The darvas box you mention maybe right, but its still not clear to me.
I dont know nothing, however this is a little tip. You all have the obvious inside you. Stop trying to see how others see the market, what works for them, what doesnt, what may or may not. Figure out what the market is; and means to 'YOU'. Look at it from afar, look through basic eyes. Get rid of all the B$%#S$%^ you have learnt not only about the market but about how you have lived and learned to percieve things in this time you have spent on this planet. See the market through your eyes, keep it simple and add the technical java latter. For some it may take time for others it may be challenging, however i promise you if you stick to it. You will find what makes most sense to you. Find it. Test it. Trade it. Ps. remember everybodies way is just the way they see it, or have learnt to see it, even pro's have learnt from others how they see it. Instead of you trying to learn from someone else, Learn from yourself. And only when you start to go down this path will answers to the questions you start asking show. So keep asking questions, and keep finding answers to those questions, cause all answers will lead to the next set of questions. How far does the rabbit hole go.
Your mention of the Darvas box caused me to do a google search as I was ignorant of such things. That search produced some images that reminded me of a picture that I saved years ago from the thread 'The chArt of Deception'. The picture was intriguing as I didn't know how the lines were constructed, but it now seems likely to be the Darvas indicator. http://www.elitetrader.com/vb/reply.php?s=&action=newreply&postid=2547034 So it appears that MrCharts et. al. were at some time interested in that type of box. However you were the first to mention Darvas in this thread so I expect that the type of box being referred to by Nysestocks is something else.
+1 maybe I am misunderstanding some things, however, the market is not about YOU. Like humility, we must take ourselves out of the equation: Be "in the now" no predicting, no past, just in the now. When we bring ourselves into the market, we now have "illusions" which disconnect us from the market and prevent us from "perception" of the price action. Yes. make the plan and work the plan.
Made a mistake, this is the thread/messages in ''The chArt of Deception' that was being referred to (the image no longer shows up there but I had previously saved a copy): http://www.elitetrader.com/vb/showthread.php?s=&postid=2547034#post2547034
Yes, make your own method and Darvas is a good example. From what I've read about his method a critisicm is that it worked well in the bull market of the 1950s for investing and swing trading, and that it may not necessarily work well today. Also his method did not seem to be well defined in the sense that there is room for interpretation of his approach, resulting in a number of modern day variations. He himself didn't use charts apparently and communicated orders to his broker via telegram from locations around the world where he was performing as a dancer. Its astonishing really. However the classic method of trading where you enter on a pull back in an upward trend and exit at a higher level is clear enough. Regarding the use of the 'box, to keep on your socks' in this thread and also in the thread 'If you had a choice to pick a box that would make you money trading, would you pick a' its just puzzling and intrigueing as to what is being alluded to. If the OP was kind enough to state precisely what he had in mind I doubt it would make any difference to most, for myself its just a fascinating puzzle. These posts are in a similar vein: http://www.elitetrader.com/vb/showthread.php?s=&postid=2400134#post2400134 http://www.elitetrader.com/vb/showthread.php?s=&postid=2401025#post2401025 With reference to 'Sons of 7' Could 7 be something like the red bar here and the 'Sons of 7' the following bars: