It's the circle of life for triangles, something I understand quite intimately.
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I'm trying to figure out a way to do this without creating custom composites, but more so with already existing daily composites or smaller. I think if you took out the whole custom aspect you might have something really special here that everyone could use.
Last edited by Itchymoku; May 20th, 2015 at 01:29 AM.
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I've read the whole thread about a miracle system with no explanation even after reading the infamous post #32 where user ecmf claimed you can predict 100% the price randomly posting useless charts - yes I said it, they are useless as any constructive question is dismissed, ignored or vaguely mentioned or answered usually by "it's not market profile" or "it's not time based". Then suddenly the millionaire owner inventor shows up (who is over 70) and who has nothing else to do but to check up on his students just to take over the entire thread and posting every day (even multiple times) - thread starter mutes (is blocked what I heard).
Then when people are teased without any constructive information and would like some real info or confirmation it's not a sales pitch or vendor ad we are told it's the westerners thing to doubt and it's a cultural difference not even by John who just takes offence and said thank you good bye.
Don't get me wrong, I'm not profitable and had huge hopes with this thread when I found it, but I now tend to read it because it's just weird and entertaining. I tend to believe in action, reaction and balance (equilibrium - whatever you want to call it) and thermodynamics use in financial markets and again so wish anything in this thread was more useful. What I tend to think is if it was a 100% prediction it would be more popular and we would have more experienced people more interested in it like BM, Tiger etc.
Disclaimer: it's my opinion, my perception, no offence or disrespect intended if so I apologise, I'm not attacking anybody I may be just too backwards to understand it - as I said I'm unprofitable and wish there was something useful here.
You yourself @sharmas have been reading this thread for a while, may I know how has it changed your trading?
all the best
Consistency over time
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I had the same (raised by reading some blogs and the words of a friend) hope that this system would be something special. After seeing the euro charts of John and having done some analysis with excel and market profile I came to the conclusion that it's just market profile read in a different way (most of the numbers in his charts were already on mine with mp analysis). Found no real value in predicting where price would go, just random calls "My prediction is that EU would hit 1.20 and 1.00 but it is not important when because the system doesn't take time into consideration" and then post back with edits when the target is finally hit. Maybe it can point some resist & support areas in a clearer way, but you can do that with other tools too.
Unfortunately without proper explanation of the system by its creator it doesn't look like a system at all. And if the creator was indeed interested into sharing (that's the reason you post a system on a forum isn't it? the other is to promote snake oil), he wouldn't ask people to go buy his $200 book but he could give out some helpful information.
Last edited by sakisf; May 21st, 2015 at 06:03 PM.
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No dog in this fight... but @John Chen posted a version of his book right here in this forum. If you read this thread, there is not a single, solitary solicitation from Mr. Chen - anywhere. At no time was he trying to "sell" anyone on anything other than his unique discovery about how price can be forecast. Ironically, in his book he even posts unabridged trading statements from an Interactive Brokers account. Please... I know that doesn't prove anything. However, I've seen tons of requests for people who spout off about "how to trade" to show a trading statement. I can tell you flat out that the majority of those folks never show anything other than ego and immaturity. When they are prompted by @Big Mike to play by the rules, they pout their way into obscurity. Don't worry though, the ego is strong and false prophets are attracted to naive followers like bees to honey.
Bottom line, why pick on Mr. Chen? If you don't like his approach, you can always use something else that works better for you. I agree that most of the posts are not easy to follow - but then again, if I was typing this in something other than my native language, no one here would understand any of it.
Too bad Mr. Chen has moved on. I believe he was an asset to the forum and I enjoyed his posts.
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My intention was not to pick up on him or bash him in any way. I am not even asking for proof of money earned. I am genuinely interested in the system as I am still trying to match it up with what I am doing, even trying to replicate it in MT4 following what I understand from his charts and some vague references from a friend but there is really no true explanation of what he is doing other than throwing charts here and there. If I make a trading journal I am gonna put my system in depth if I want to get people to understand what I do. I am mostly annoyed from the random posting and lack of analytical explanation.
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