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Median Line aka Andrews Pitchfork
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Median Line aka Andrews Pitchfork

  #131 (permalink)
Curtis
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I find myself wanting to know why a Andrews fork works like it does. How can something drawn on a chart months ago still show up relevant to current price action . Why do I feel the need to know ?
Why don't I just bring into reality what I see on the chart
this is the same 20m fork from above

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  #132 (permalink)
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CRM5096 View Post
I find myself wanting to know why a Andrews fork works like it does. How can something drawn on a chart months ago still show up relevant to current price action . Why do I feel the need to know ?

Its at least not like the Gann stuff where there is no logic to it. Forks work because of the laws of physics.

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  #133 (permalink)
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reading this thread today found something

https://futures.io/newreply.php?do=newreply&p=32207


Shivaya View Post

They gave me an open check book to buy anything about Gann and paid me well to learn it. My first 34 trades were all winners and all 100% intuition using what I'd learned from the Book of Jonah. No live charts in those days. Just numbers and a charting subscription. The 35th trade was a loss because I was asking simple questions like , 'How am I doing this,? Will it continue? I was developing doubt and lost.

So yes, pure intuition works, but eventually I wanted to know how I was doing it and decided to learn everything about markets, so spent 10 years as a broker/analyst and forgot intuition. I wanted Experience!

Well now I can read a chart but when I trade off a chart with some indicators and rules I might average 50% wins. however when I trade with experience plus intuition I am closer to Gann's numbers of 80 to 90% wins.

Ganns real secret is all to do with Timing. Unless you have 10 years passion in you, it's one wierd journey. I did the journey and when the Time comes and all the indicators are swinging right it's just a beautiful moment and I load the boat and get my high % win figures. The rest of the time it's play with systems, indicators, etc.

Finally all these trades are put into a money management sheet and I always want to have a profit factor above 2.0 and compound. Increase size with wins reduce size with losses. Professional traders know if they use size correctly it preserves capital for the next sunny day.

So yes traders develop your intuition but get experience and try everything you like. As soon as your subconscious has been programmed with the traders winning paradigm,results that you want will come.

Have fun most of all.

Shivaya


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  #134 (permalink)
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Whether or not Gann was a brilliant trader is debatable. What I don't think is debatable is that he didn't formally write down his trading system. He has written plenty of garbage that is almost incoherent when attempting to read it. Gann supporters will say that he wanted to wrap his system in mystery. But there is no consistency. There are as many Gann methods as there are Gann traders - each as confusing as the next. If you don't believe me google square of nine and see if one explanation of this concept agrees with any of the others.

If I'm going to spend ten years studying something before it clicks its not going to involve astrology and sacred number theory or a book called Tunnels thru the Air.

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  #135 (permalink)
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Quoting 
If I'm going to spend ten years studying something before it clicks its not going to involve astrology and sacred number theory or a book called Tunnels thru the Air.

Mee too

here is Bio of Rodger Babson check out chapter on Action Reaction

Books of Roger Babson | News and Events | Babson College

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The following user says Thank You to CRM5096 for this post:
 
  #136 (permalink)
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CRM5096 View Post
Mee too

here is Bio of Rodger Babson check out chapter on Action Reaction

Books of Roger Babson | News and Events | Babson College

Thanks for that link - do you know which chapter is on action/reaction?

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  #137 (permalink)
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sorry got mixed up
one of the books Babson wrote was Action reactions

Books of Roger Babson | News and Events | Babson College



here is the website were Alan Andrews out lines Action Reaction lines

Original Alan H. Andrews Course Material...cleaned up and transcribed.........NQoos-TradingNaked

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  #138 (permalink)
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Traders on higher time frames


Quoting 
I find myself wanting to know why a Andrews fork works like it does. How can something drawn on a chart months ago still show up relevant to current price action . Why do I feel the need to know ?

This tells me you drew your fork in the same location traders on higher time frames (daily, weekly, monthly) are looking at. It adds weight to the importance of that fork line.

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  #139 (permalink)
Curtis
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same 20m fork as above caught the over nite low to the tic

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  #140 (permalink)
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samurai View Post
This tells me you drew your fork in the same location traders on higher time frames (daily, weekly, monthly) are looking at. It adds weight to the importance of that fork line.

just

Or just reaffirms the psychology of the retail traders (aka the lemming effect).

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