Random Line Theory - Traders Hideout | futures io social day trading
futures io futures trading


Random Line Theory
Updated: Views / Replies:69,959 / 358
Created: by Big Mike Attachments:100

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 100  
 
Thread Tools Search this Thread
 

Random Line Theory

  #211 (permalink)
Logician
Chicago, IL/USA
 
Futures Experience: Advanced
Platform: CTS T4/Sierra Chart
Favorite Futures: Futures
 
zer0's Avatar
 
Posts: 139 since Jun 2011
Thanks: 49 given, 186 received

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.


Last edited by zer0; July 19th, 2011 at 09:18 AM.
Reply With Quote
 
  #212 (permalink)
Elite Member
Edinburgh, UK
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: eurusd
 
Posts: 22 since Jan 2010
Thanks: 8 given, 15 received

similar idea here

Randomness revisited: random levels? | SMB Capital - Day Trading Blog

fun to see all the going on here

Reply With Quote
 
  #213 (permalink)
Fortitudo et Honor
Austin, TX
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: Futures
 
Posts: 882 since Mar 2011
Thanks: 128 given, 703 received



trendisyourfriend View Post
You should take these lines seriously. Some people sell them at a high price $550 for the US equity index (4) per month, no joke. To be sure, check this site: JS Product Overview

Also, this site: ToTheTick | Support and Resistance Trading - Futures and Forex

And this last one: Pivotfarm | The Home of Support and Resistance Trading

These lines are a precious commodity for some traders.

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."
Reply With Quote
The following user says Thank You to RM99 for this post:
 
  #214 (permalink)
Elite Member
Canton, OH
 
Futures Experience: Advanced
Platform: ThinkOrSwim
Favorite Futures: Index Options Credit Spreads
 
HowardCohodas's Avatar
 
Posts: 100 since Mar 2011
Thanks: 40 given, 107 received


zer0 View Post
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.

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.

____________________________________________________
If it is to be, it is up to me.
All I Know About Trading Options I Learned in Flight School
Reply With Quote
 
  #215 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,653 since Mar 2010
Thanks: 4,226 given, 25,602 received
Forum Reputation: Legendary


HowardCohodas View Post
I am a prosapagnosiac (difficulty in recognizing faces) and I wonder if that has anything to do with it.

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 ?

Reply With Quote
 
  #216 (permalink)
Elite Member
Canton, OH
 
Futures Experience: Advanced
Platform: ThinkOrSwim
Favorite Futures: Index Options Credit Spreads
 
HowardCohodas's Avatar
 
Posts: 100 since Mar 2011
Thanks: 40 given, 107 received


Fat Tails View Post
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
Reply With Quote
 
  #217 (permalink)
Elite Member
San Diego, CA USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
GridKing's Avatar
 
Posts: 3,650 since May 2011
Thanks: 588 given, 877 received


zer0 View Post
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.

If computers and others are using similar or same levels they are not random .

The trick is to find out what levels are being used the most.

JMO

http://www.amazon.com/Encyclopedia-Chart-Patterns-Wiley-Trading/dp/0471295256
http://www.mypivots.com/dailynotes
http://www.barchart.com/cheatsheet.php?sym=ESU11
http://www.fibonaccitrader.com/

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 http://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

Last edited by GridKing; July 26th, 2011 at 01:35 AM. Reason: edit :
Reply With Quote
The following user says Thank You to GridKing for this post:
 
  #218 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received

My random lines...these are drawn by an indicator.

2011-07-25_2109 - aztrader9's library

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
Reply With Quote
 
  #219 (permalink)
Logician
Chicago, IL/USA
 
Futures Experience: Advanced
Platform: CTS T4/Sierra Chart
Favorite Futures: Futures
 
zer0's Avatar
 
Posts: 139 since Jun 2011
Thanks: 49 given, 186 received

Hi.

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.






Reply With Quote
The following user says Thank You to zer0 for this post:
 
  #220 (permalink)
Elite Member
San Diego, CA USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
GridKing's Avatar
 
Posts: 3,650 since May 2011
Thanks: 588 given, 877 received


here ya go ... Is that random?

but again just experimental, interesting anyways

"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
Attached Thumbnails
Random Line Theory-fibart.png  
Reply With Quote

Reply



futures io > > > Random Line Theory

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
How advanced mathematics and gaming theory can help you as a trader RM99 Psychology and Money Management 203 February 5th, 2016 03:10 AM
Using Dow Theory indicator as a filter in automated strategies nanobiotech NinjaTrader Programming 8 March 28th, 2015 07:56 PM
Economic Theory PandaWarrior Off-Topic 10 May 15th, 2011 12:06 PM
Ryans Chewing Gum theory Ryanb Psychology and Money Management 2 December 8th, 2010 10:25 AM
GAME THEORY tigertrader Off-Topic 3 October 7th, 2010 09:16 PM


All times are GMT -4. The time now is 05:55 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-15 in 0.14 seconds with 20 queries on phoenix via your IP 54.145.16.43