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I never fully understood the fetish of drawing lines everywhere. People see what they want to see so it seems.... Anyway, a noteworthy exercise considering most lines' utility is a figment of the user's imagination.
Can you help answer these questions from other members on NexusFi?
Even if you assume these numbers are somehow magical, I don't really see the point in trading off mysterious numbers that someone else provides.
If he's not going to reveal how to generate said numbers, then I don't see the point. Trading/relying off them (even if they work) is kinda like operating a business with 30 employees around a single artist.
What happens when he gets hit by a bus or gets banned from futures.io (formerly BMT)? I guess people just go back to trading their own low tech, non-magical numbers and indicators.
"A dumb man never learns. A smart man learns from his own failure and success. But a wise man learns from the failure and success of others."
And then there are those of us whose brain is wired such that they don't get much value out of lines on a chart. I am a prosapagnosiac (difficulty in recognizing faces) and I wonder if that has anything to do with it.
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If it is to be, it is up to me.
All I Know About Trading Options I Learned in Flight School
The fusiform gyrus is also the part of the brain used for word recognition. How can you remember such words as prosapagnosiac, but not remember faces ?
It's not a memory problem, it's a pattern recognition problem. My memory and vocabulary are good. But my wife's face does not pop out at me when she is in a crowd. I have to remember the dominant color she was wearing, find that first and then look closely at her face. Until the Harvard study, I did not realize I was that different. Some have this condition so profoundly they don't recognize themselves in the mirror. Strange indeed.
____________________________________________________
If it is to be, it is up to me.
All I Know About Trading Options I Learned in Flight School
Even just simple moving averages , if you find the one that fits, it will work for a while , then everyone starts using it and it doesn't work anymore, find a new one that fits and so on - jmo
I think backtesting in these cases except for patterns as Bulkowski did is worthless JMO
and if evidence is needed that predetermined lines can come into play I mapped the market in advance 3 years in a row 6 months to a year ahead of time , it is in contrib section which requires a donation and I don't have access to currently - the thread is fibonacci , I also have one on McClellan , all of the charts are in my fried computer , one of these days I'll dig them up
I ended up being right , sometimes even within just a few points , but it was an experiment not a trading method and much more difficult on smaller timeframes , I think the last one I entered which was quite some time ago showed a full retrace from 2007 highs but not sure https://tickerforum.org/akcs-www
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
An even better trick is to not use any lines at all, regardless of what others do with them (or not). I certainly don't; not a single line. In fact, I don't even use charts to trade per se. I use charts as visual aids for where we are in the day. A guide if you will. However I utilize charts, I never use them to make trading decisions directly. No patterns, no indicators, and no sea shells. Now, that isn't to say that charts and the lines drawn on them are never useful. They absolutely can be useful in the right context and hands, but that's the crux, isn't it? Most, sadly, are kidding themselves with what they think they see as they scribble all over their graphics. Ever notice how professional/institutional-level trading software (save for CQG Integrated Client) exhibit a serious lack of focus on charting and related studies? Hint: This isn't an accident. You won't find institutional traders doing Elliot Wave counts, plotting Fibonacci levels, or betting on S/R prices. I reiterate: People see what they want to see, and I'll now take the liberty of adding to that, people believe what they want to believe. On the other hand, if you're shaking money out of large trees with it, don't let me stop you.
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
going on here
