<i>"austinp since you have a monumental edge and obviously don't need anyone's advice to trade, why do you spend so much time posting on ET? You're not sharing anything of value to traders to make them more successful. Do you get an ego boost from boasting here?"</i> I hang out here when I'm bored. That includes times when live trades are working, times when waiting for trades, and times when I'm doing office tasks which take time to process. You're new here. Take some time to flip back thru my string of posts and see if I don't offer help wherever I can. There's a helluva lot more to helping other traders create success than offering entry / exit advice. That stuff is best left for private tutorial format. If you paw thru my posts back in time, I think you'll see efforts made toward helping others.
JJ, I read an arcticle years back in an academic publication about a professor at MIT who had a supercomputer plot every chart pattern on a 5, 15 and one hour chart on the ES for 5 years and then backtested the frequency of repeating patterns and possible trades based on those patterns. I don't think I need to tell you what the results were. Suffice it to say he doesn't trade, let alone quit his day job. You're saying that history repeats itself in the market enough times daily for traders to recognize chart patterns and capitalize from them. Research proves otherwise and so does every black box out there that has failed. That's not to say you can't win every now and then, but given the risk reward of those chart setups, the road to ruin will ultimately prevail.
Since you know where those little nuggets are and I would have to search through 908 of your posts, can you make it easier on me by posting, say 4 or 5 links that you think helped others? Thanks for the assistance.
<i>"I read an arcticle years back in an academic publication about a professor at MIT who had a supercomputer plot every chart pattern on a 5, 15 and one hour chart on the ES for 5 years and then backtested the frequency of repeating patterns and possible trades based on those patterns. I don't think I need to tell you what the results were. Suffice it to say he doesn't trade, let alone quit his day job."</i> Computers are stupid. I quit my day job because patterns repeat day after day in all financial markets. Learn how to measure the market, you (or anyone) can do the same. Stick with your veiled mantra of "It's impossible to profit from trading" and your time is sadly wasted here.
<i>"Since you know where those little nuggets are and I would have to search through 908 of your posts, can you make it easier on me by posting, say 4 or 5 links that you think helped others? Thanks for the assistance."</i> You just joined this forum for the very first time... and you don't have time to read archived material for educational sake? Why are you even here to begin with?
I'm not going to feed your ego by reading 980 of your posts looking for something that I have no clue what even the topic is. If you care to be helpful, you will. If not, you won't. Computers are indeed stupid, so I have a suggestion for you tomorrow. Don't look at any charts on your computer when you trade, just the time and sales and try to work your monmumental edge from PRICE action. After all, pit traders don't look at charts do they? They have hand-held devices that display the tape action.
<i>"I'm not going to feed your ego by reading 980 of your posts looking for something that I have no clue what even the topic is. If you care to be helpful, you will. If not, you won't."</i> No worries, you couldn't possibly feed my ego. By the same token, I have no clue what might be helpful for you or anyone else in particular outside of the thread I added to. Who is asking you to read 980 posts, anyway? Go back two measly days to a thread on bear-call credit spreads where the OP asks about possible risk. See if I offered any help on that topic to him = anyone else forward in time. The concept of archived posts is for new members who've never been here before to sift thru and glean what they can. A backward approach would be having posters sift thru and offer what they think a visitor needs instead. Can you see the reverse logic in that? I hope so <i>Computers are indeed stupid, so I have a suggestion for you tomorrow. Don't look at any charts on your computer when you trade, just the time and sales and try to work your monumental edge from PRICE action. After all, pit traders don't look at charts do they? they have hand-held devices that display the tape action.</i> Quadrunners are equally stupid as computers. I just rode my 4x4 a couple of miles to carry equipment. It served that purpose well. I did not ask it to find fish, drill holes in the ice, set tipups, watch flags, reel in catches or filet the harvest. Capiche`? My computer runs charts. I do not ask it to identify patterns, measure patterns, select trade entries, manage trades, exit trades and repeat the process. My quad is a workhorse. My computer is a tool. My charts are merely a window. That's all