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Beginners: What Really Matters: Market Geometry


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Beginners: What Really Matters: Market Geometry

  #31 (permalink)
edward40
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Nice action today and again more confirmation that my analysis is justified.
Enjoy.

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  #32 (permalink)
 
xplorer's Avatar
 xplorer 
London UK
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rassi View Post
Some might say my Mrs is a minger but I think she’s the most beautiful woman in the world.

I've had to read this twice but now I get it

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  #33 (permalink)
edward40
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Sort of impressive.
Modified Schiff is more common than the Schiff.

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  #34 (permalink)
edward40
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wldman View Post
I will give it one try, but only one.

To asses geometric patterns of ANY kind, simple or sophisticated, you MUST have square scaled charts. That is to say that the x and the y axis have to be valued in the same sized (square) increments. Time and price must be equal measures.

A few guys have tried geometry before you. One that you might want to consult is W.D. Gann, a contemporary in this field that I have enormous respect for is Earick Bean. Both of those guys will provide you with mantra and nuance in the field of geometric patterns. When you are well immersed in their work, then consider price action as a psychological response to visual stimuli and you can decide what to develop into your actual trading.

That phrase "actual trading" is also a critical point of focus. Consistent with the spirit that our host @Big Mike intends I want to encourage you without being too harsh. BUT the harsh real world of the last bastion of true capitalism...trading financial markets... will rip your balls off and leave you to die if you insist that you know anything about this vocation based on a theory that you developed back fitting lines to a price chart.

Past that, and yes there is more. You would help yourself if you understood most of the common logical fallacies that trick honest folks into ruin. Google "logical fallacies chart" and run your trading logic through a short course that includes confirmation bias and anecdotal false cause.

All of that said, I do believe that geometry can be a valid and prosperous approach to trading when guided by a skilled hand. To be a skilled hand requires a bit more than jotting some lines at 3am. Learn what you are talking about and then become skilled through thoughtful application of actual trades.

Last, your response to this will indeed, signal a tremendous insight into how respected, thoughtful and experienced traders will form opinion and response to you.

Dan

Three different charting platforms are all working well with simple drawing tools. I appreciate exactness more than life, but so far so good. If I get bored, I am breaking out the graph paper and a ruler, old school.

Gann goes deep and right now, I want K.I.S.S after seeing all the whiz bang $$$ indicators discussed here.

I am interested to look into Earick Bean for sure and some Gann. Thank you.

Yes, I am back drawing AND forward drawing lines. I did not mention I have thousands of hours of screen time with delayed / live data in the past. Not replay either. I also have read/watched/learned from many who are very smart and absorbed some of the material.

I am excited as you can tell in the posts because I thought geometry too boring, old school, or voodoo like. In the end I am excited I WAS WRONG and I am learning something. Not the holy grail, but certainly nothing to ignore depending on trading style.

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  #35 (permalink)
 
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 wldman 
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People here, contrary to how you might feel about it, are trying to help you. I want you to do well, to trade well and to be happy. To continue down this road with you is not productive for me. I took my shot. Down the road, if you tag me, I will try to help you or I will answer you that your question is beyond my knowledge or experience.

If you are impressed by the lines you are using wait till you see real Gann geometry on a square scaled chart or Earick's Fib Vortex...you're going to blow a gasket. Find what works for you, TRADE it, and be well.

Dan

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  #36 (permalink)
 
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 xplorer 
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edward40 View Post
Yes, I am back drawing AND forward drawing lines. I did not mention I have thousands of hours of screen time with delayed / live data in the past. Not replay either. I also have read/watched/learned from many who are very smart and absorbed some of the material.

I am excited as you can tell in the posts because I thought geometry too boring, old school, or voodoo like. In the end I am excited I WAS WRONG and I am learning something. Not the holy grail, but certainly nothing to ignore depending on trading style.

With due respect, until such time you put real money on the line, no matter how many thousand hours you have accumulated on screen time, all of that will be worth as much as a spectator studying and commenting about their favourite sports team for years. They will be the best commentator but they've never played.

Similar to having studied all there is to read about riding a bycycle but never actually having ridden one.

You get the point hopefully. If you have heard of Reminiscences of a Stock Operator there is an apt quote from it.

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  #37 (permalink)
edward40
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YM - levels still valid

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  #38 (permalink)
 
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 wldman 
Chicago Illinois USA
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post a pic of my actual XOM P/L today and my /ES, but I thought, what's the point. We don't know much about each other or how real time passes in the other guy's life.

I'm just grateful in everything that has come to pass and what I've been fortunate enough to learn along the way. In the markets, a great deal of benefit came from brilliant mentors that poured into me all they had without any hope or promise that they would ever get a thing in return. That, plus the pain of each loss demanded that I come to discipline and learn how to make my way. Everyone's path is different AND almost nobody makes an actual living trading the markets or investing the proceeds.

Trade well and Be well.



xplorer View Post
With due respect, until such time you put real money on the line, no matter how many thousand hours you have accumulated on screen time, all of that will be worth as much as a spectator studying and commenting about their favourite sports team for years. They will be the best commentator but they've never played.

Similar to having studied all there is to read about riding a bycycle but never actually having ridden one.

You get the point hopefully. If you have heard of Reminiscences of a Stock Operator there is an apt quote from it.


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  #39 (permalink)
edward40
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xplorer View Post
With due respect, until such time you put real money on the line, no matter how many thousand hours you have accumulated on screen time, all of that will be worth as much as a spectator studying and commenting about their favourite sports team for years. They will be the best commentator but they've never played.

Similar to having studied all there is to read about riding a bycycle but never actually having ridden one.

You get the point hopefully. If you have heard of Reminiscences of a Stock Operator there is an apt quote from it.

No problem. I am sure all analysts trade right? So if I knew an analyst and they did great charts but did not trade at the moment, then they know nothing right? Their firms traders could be making money day in day out, but their analysis is worthless. Ok, no problem, sounds like a reasonable theory. The thread was about getting people involved in geometry, but it's devolving into a typical internet forum. So the world's best coach, could never have been a so so player? Enough already with the "real money on the line" dollar store comment. I have traded live. I have lost 50% of an account. I have traded that money back into the account and won it back over time. I have been there done that. I know what that's about. So far this forum is so typical, bash, bash, bash. I will stop short at using the word "trolls".

I love your bicycle quote and I actually have an answer for that. From the age of 11-12 I read everything I could about motorcycles. Later that year when I got my first motorcycle and my father took me out to teach me how to ride it. I got on, kick started it and rode away like I had been doing it my whole life. He was shocked. Whoever wrote that quote is ummmm....wrong. I am sure there are many other stories of people doing similar things in life.

  #40 (permalink)
 
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 wldman 
Chicago Illinois USA
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take a moment to examine yourself and how you are responding. It seems to me that you don't actually trade because you can't be wrong. Be wrong man it's the ONLY way to learn. Because everyone does not come to heal and praise your work does not mean bash. You are making some mistakes that WE ALL have made. Guys are frustrated that you ignore what a lesson cost them. Everyone I've seen post in this thread is trying to HELP you.




edward40 View Post
No problem. I am sure all analysts trade right? So if I knew an analyst and they did great charts but did not trade at the moment, then they know nothing right? Their firms traders could be making money day in day out, but their analysis is worthless. Ok, no problem, sounds like a reasonable theory. The thread was about getting people involved in geometry, but it's devolving into a typical internet forum. So the world's best coach, could never have been a so so player? Enough already with the "real money on the line" dollar store comment. I have traded live. I have lost 50% of an account. I have traded that money back into the account and won it back over time. I have been there done that. I know what that's about. So far this forum is so typical, bash, bash, bash. I will stop short at using the word "trolls".


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