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es/pip
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Postby es/pip » Tue Apr 20, 2010 11:56 am

noone22 wrote:
MightyOne wrote:If you do not want to be a discretionary trader then why are you reading these posts?


I haven't said this.

I would like to be a discretional trader,
or technical one, or any combo in between.

Only one thing - I would like to be profitable trader.

You cannot imagine, what I have to read
in order to achieve this!

For example, check my latest reading (not too bad by the way):
"Trade Chart Patterns Like The Pros" by Suri Duddella.
There are plenty of chart patterns there with brief instructions, how to trade them. I cannot say for sure, whether it is
discretional or pure technical approach (mix probably).
It would be great (for me) to have them all programmed in one indicator!

http://rapidshare.com/files/377551509/TCPLT.zip
Password: TCPLT.zip


suri knows his stuff as far as patterns are concerned and how to trade them

however there is way better info on this site by far

you just need to get your mind out of the way

you over think everything
Bend over and assume the position for another 4 years of hope and change.

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Braathen
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Postby Braathen » Tue Apr 20, 2010 11:57 am

My guess is.. you want everything searved on a plate so u can program a super EA that will do all the work for you while u have fun on a tropical island? I wish i could get everything searved too... but i take what i get/what MO shows.. most of the time i dont even get an answer but i generally find my answer in his answer to someone else. From what i see you want a+b = c.. witch i personally doubt u will ever find
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
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cwn6161
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Postby cwn6161 » Tue Apr 20, 2010 12:24 pm

If this idea MO is trying to show us was completely mechanical, then it would eventually be absorbed by the market and become useless. But I think this could be the real "end of the road" for trading concepts because it's showing how price moves in comparison to the past. That can't be absorbed.

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newark18
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Postby newark18 » Tue Apr 20, 2010 4:23 pm

DOP is really freaky. I set up my lines just to see how the market will play out. I leave for a few hours and come back to see that price has used the channels that I set up as support and resistance. And when a support is broken, it uses it as resistance. If I used my horizontals and DOP, I could have had an easy 34 pips (not a lot for many but a good little grab for me). And I would have been efficient. Perfect entry and perfect exit. Too bad I was too busy to trade it.
Failure is an opportunity to learn.

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Braathen
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Postby Braathen » Tue Apr 20, 2010 4:48 pm

Hey newark :) Im spending as much free time as i can looking at this (not alot in the weekdays) and it is like u said uncanny/freaky.
The small bad quality pic i posted on page 53.. the 30* line i posted going into nowhere.. well it wasnt nowhere lol.. price ended up using this as support/resistance.
Anyway u said u would stop posting because noone was posting back.. well..im always reading.. just havnt got much to contribute on this subject :)
Yet!
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

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newark18
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Postby newark18 » Tue Apr 20, 2010 5:07 pm

Last week, I set up some lines at 30* and 330* to create diamond formations. At the time, price was rising along the 30* channel. After price reversed, it ran along the 330* channel almost perfectly. I wasn't expecting the reversal. I was just setting it up just for the hell of it. And then when I checked again, I was surprised to say the least.

I haven't had much time to trade but I set up the lines just to see what happens. And usually I am very surprised at the result.

From my novice eyes, horizontal lines are good at finding support and resistance and diagonal lines are good at sensing when price is speeding up for slowing down. they also can be helpful increasing the efficiency of your trades.
Failure is an opportunity to learn.

cwn6161
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Postby cwn6161 » Tue Apr 20, 2010 7:08 pm

I know the conversation has taken a new direction, but I had a quick question about one of the "older" methods MO showed here, where the previous 2 bars of a time frame were used to determine the range of the current bar. Has anyone tried this on equities? I'm looking at calculating the daily range, and I'm not sure if the weekly or monthly bars should be used to determine direction.

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MightyOne
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Postby MightyOne » Tue Apr 20, 2010 7:12 pm

So far so good 8)

Image

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newark18
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Postby newark18 » Tue Apr 20, 2010 8:43 pm

I usually collect all of MO's posts. But I haven't even thought about doing that for the patterns that he has recently been showing.
Failure is an opportunity to learn.

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noone22
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Postby noone22 » Wed Apr 21, 2010 1:16 am

es/pip wrote:however there is way better info on this site by far
you just need to get your mind out of the way
you over think everything


Could you show me this "better info", please.
If it is just in NLA thread, be more specific
on the topic, please: is it zerolines or something else?

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