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Random Line Theory
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Created: by Big Mike Attachments:100

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Random Line Theory

  #341 (permalink)
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SARdynamite View Post
Sup guys,

It has not happened in this thread from what I remember but I do not know where else to ask.

I'm searching for a picture showing randomly generated charts. From my souvenirs, it was provocatively built by one of our "market wizards" but can't remember who and where it was posted.
I need it for documentation To educate friends.

Thanks for your help

pS: I did not find it in the "random markets" thread nor the "random entries" thread ....my guess is that it must be hidden in some random topic

PPS: thanks Mike was just seeking for immediate landscape (I remember it had a dozen charts paneled together) but will take the longer route. Cheers

There's a couple of jpgs at this Google link: https://www.google.com/search?q=randomly+generated+stock+charts&rlz=1T4GGHP_enUS...h0dzgJb&biw=1536&bih=733

This was has a few random charts

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  #342 (permalink)
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Big Mike View Post
An hour in, and look how price has "bounced" off or is "respecting" one of the lines.

Within 2 ticks...

Mike

Mike, you might have drawn it randomly but in reality price is bouncing off former resistance levels not serving as support

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  #343 (permalink)
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alizaidi View Post
Mike, you might have drawn it randomly but in reality price is bouncing off former resistance levels not serving as support

How do you know that? 😂

Sent from my Nexus 10 using Tapatalk

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  #344 (permalink)
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dalebru View Post
How do you know that? 😂

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that's technical analysis 101. prev resistance acting as support. of course if you're going to draw several random lines on a price chart many will line up perfectly with actual sup/res levels.

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  #345 (permalink)
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alizaidi View Post
Mike, you might have drawn it randomly but in reality price is bouncing off former resistance levels not serving as support

I believe you've missed the point

Mike

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  #346 (permalink)
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So trendline, trendchannel, fibonacci is alle random lines. What a joke.:-)

It,s all about frekvens.!

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  #347 (permalink)
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jta3 View Post
So trendline, trendchannel, fibonacci is alle random lines. What a joke.:-)

It,s all about frekvens.!

You have missed the point.

Sent from my phone

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  #348 (permalink)
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these einstein quotes come to mind....

  1. As far as the laws of mathematics refer to reality, they are not certain, and as far as they are certain, they do not refer to reality.

  2. Occurrences in this domain are beyond the reach of exact prediction because of the variety of factors in operation, not because of any lack of order in nature.

  3. There is no logical way to the discovery of these elemental laws. There is only the way of intuition, which is helped by a feeling for the order lying behind the appearance.

  4. To raise new questions, new possibilities, to regard old problems from a new angle, requires creative imagination and marks real advance in science.

  5. Look deep into nature, and then you will understand everything better.

  6. A man should look for what is, and not for what he thinks should be.

  7. People love chopping wood. In this activity one immediately sees results.

  8. The only source of knowledge is experience.

  9. The true sign of intelligence is not knowledge but imagination.

  10. He who joyfully marches to music in rank and file has already earned my contempt. He has been given a large brain by mistake, since for him the spinal cord would suffice.

  11. Memory is deceptive because it is colored by today's events.

  12. The only thing that interferes with my learning is my education.

  13. Reality is merely an illusion, albeit a very persistent one.

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  #349 (permalink)
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tigertrader View Post
  1. A man should look for what is, and not for what he thinks should be.


Dam that jolly old chap was good.


Quoting 
A man should look for what is, and not for what he thinks should be.

may I extend:

Economists should look for what is, and not for what they think should be.
Scientists should look for what is, and not for what they think should be.
Politicians should look for what is, and not for what they think should be.
The media should look for what is, and not for what they think should be.

Hubris is the cause - that many of the above dont.

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  #350 (permalink)
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Big Mike View Post
You have missed the point.

Sent from my phone

Some specific rules based on indicators for "S" sell signal

RSI 14 falling above 70%
CCI 20 Falling above 150
MACD 12,26,9 falling above 2
On each bar I can see the count of condition, then a threshold can be set 2 out of 3. Then a signal with risk / reward.

However I don't use this tool so much. But having these count in MarketAnalyzer on different time frame give a hint in a random world. With some simple rules it can give better probability.

A similar set of rules with lines need to be in place. And not just some random lines with out rules. That gives no meaning.

I get the point with interpretation for how you can look at a line. But in that case I can put whatever on the chart and say the same thing.

Only rules with right frekvens.

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