Yes..but trading is not like "normal" things..so we can not apply normal ways of thinking..even if it is "pointed out" to someone..the chances of them actually making use of it are very slim..why..simple..because of "emotions"..or to be more precise..unable to control ones emotions! Successful trading is all about emotional control..one has to learn how to get rid of bad habits..which is far harder than it sounds..hell..I still struggle at times..and when I do..I stop trading and just walk away..as..I know if I stay I will just throw away money..I might walk away for a day..a week..a month..or several months..and it is very easy know when it is time to get back in..as you will feel relaxed and have no "perceived" issues..or problems. It was said by someone that "trading is but a reflection of your current life situation"..and this..believe it or not..is actually correct..for..how can it be any other way! The box is much more than joined levels..it is the "sum of all fears".
I will let you mark up this one yourself..that is if you are interested of course! A "reference point" can not only make things clear..it can save you a fortune..and also help you make one..if you are really smart! There is one "obvious" thing that I am not saying here..but if you sit back and look..it should be as clear as day..as it is the most fundamental "thing" of all financial markets..like Mr Pelt said..once you see the arrow you will never look at the FedE->X logo the same way
If I understand what he is talking about correctly, taking the time to type out the calls and not pay attention to the charts will cost you.
The reactions that happen at those reference points happen very fast and in the time that he would go on ET and type out the message he can miss the chance to book profits or reverse. I may be totally off but this is what I am starting to see and understand after scratching my head and thinking about what is in discussion here. It would make sense to ask for trade blotters instead but there is no reason for him to actually post those.
This is one of the classic arguments against posting live calls. But live calls are extremely important in order to filter out the bad info.
You can take the info presented here and see if it applies to the markets you trade yourself. I guess it takes time to understand all the riddles and puzzles but that is half the fun in my opinion.
He's using charts of a time frame that would be easy to post live trades, yet only posts hindsight analysis. This don't feed the bulldog.