Why Is The Obvious Not So Obvious?

The high probability low risk entry would be within the red box, but the issue is patience and recognizing this entry area in real time and then being able to act.

 

I've seen this before mentioned in the form of "bart" in the previous posts. I agree that this is a low-risk area if one were to put a stop just below the lowest point in the "bart" formation and wait for price to get close to the bottom.

My problem with "bart" is that I find price often doesn't get close enough to the low of a bart formation or it crosses over and stops out a trade (nowhere close to getting the 7:3 win/loss ratio nysestocks was talking about--but maybe that's just me).

RedNeck I believe said that he typically risks "a few cents for tens of cents" so this kind of trade makes sense--but there need to be additional factors I believe to identify a reliable bart from another.

Finally, nysestocks said "you can't see the top of a mountain if you're sitting on it." Maybe that means you literally have to wait for a bart formation to form, then place a buy order 1-tick below the lowest point of a bart formation and get in on the trade, and exit if it doesn't go your way within 3-4 ticks.

 

Couldn't agree more, I've had those aha moments, written down my thoughts, come back to it later and thought, nahh I'm a dummy that's not it. Feels a fool yet again. Haha...

cheers
Bogan22

 

That's my take on the box exactly. Paintings, can be just be colored boxes (like rothko) unless you understand the context and structure behind them. Same with a particular set up. The only way you get to know is by doing. If you flick through the Barry Rudd book you can kind of see boxes as well. Boxes seem to be good risk management tools. TE seemed to use them on higher time frames. Also when you think you should close out then maybe that's when you should also reverse.

They are definitely not talking about Darvas. In fact I would wager that TFF would consider him another peddler of tricks.

Regards
Bogan22

 

I hope I didn't ruin all 600 pages of it

 

If I recall correctly you need an eye for an 'eye', as its got something to do with a 'cunt', and your aunt having balls, who would then be your uncle.

 

Don't let your ego flatter yourself into thinking that you have had any effect at all.

 

+1

 

+2

 

Haha man theres some haters on here. I figured the obvious out. Just send $4998 to my bank account and i will tell you.