P&F charts suck, don't use them...

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PebbleTrader
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Postby PebbleTrader » Thu Oct 06, 2011 10:36 am

"the fractals of psychology are mutations of the previous... "

I like that...

I do something along that lines but it's not any computer coding or fractal analysis(not saying it couldn't be done, but I think it would be pretty damn hard to do), it's just discretionary comparing and combining...
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Postby Jalarupa » Thu Oct 06, 2011 10:39 am

MightyOne wrote:
PebbleTrader wrote:Newscalper,

MO has said that he DOES NOT KNOW what will happen next...


There is a way to predict the future PA using fractal pictures.

The picture can repeat in a small or large way but the analysis is so mindnumbing that most of the time I don't even bother.

& no it is not as easy as the guys on the net who are looking for exact copies...the fractals of psychology are mutations of the previous...

Anyways, we'll leave it at that :lol:


Or just bang a fib tool on your chart and aim for the skies... If you going the right way you will generally know it and then the rest is just well making sure your wave 3 extensions get taken all the way...

spa
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Postby spa » Thu Oct 06, 2011 11:32 am

MightyOne wrote:There is a way to predict the future PA using fractal pictures.

The picture can repeat in a small or large way but the analysis is so mindnumbing that most of the time I don't even bother.

& no it is not as easy as the guys on the net who are looking for exact copies...the fractals of psychology are mutations of the previous...

Anyways, we'll leave it at that :lol:

looking for exact copies has its merits, and is more doable compared with the "mutations" .. .. talking about this should be more present imho

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Postby PebbleTrader » Thu Oct 06, 2011 12:29 pm

I expected the results of the 10x2 pips to reversal (from low to high, or high to low, aka, full range of previous reversal), but the clustering in the 10x3 & 10x4 is interesting...

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Postby aliassmith » Thu Oct 06, 2011 2:28 pm

MightyOne wrote:
newscalper wrote:I'm really hopeless! Still scratching my head and puzzling with this :roll:

Image

Image

Now I know everyone looks to get wicked in on here and now MO is saying this but originally MO did not say this

Image

Now either I don't understand or there's something else because if there was a singular method as put that was profitable there would be no need to keep changing it slightly or looking at it from different angles. It is either difinitive and 'works' or does not. End of...


I believe my first post simply said:

BODY IN THE DIRECTION OF PROFIT <---

WICK IN THE DIRECTION OF LOSS <---

Followed by:

I AM NOT a MECHANICAL TRADER!

Followed by:

Discretionary means that I draw on my own experience, if you don't have experience (sux2Bu) I will attempt to program your mind to be more like mine.


When you ask for a step by step guide (mechanical) I point to the chart (the problem & the solution) and ask that you actually learn to draw information from it (comparisons).

And yes I "somehow" went long the USDCAD for hundreds of pips & some people (Alias/++) were partially privy to the information.


Ya he did go long usdcad while I was trying to short it. Altho he did say that
he didn't think eurusd would see 1.33 again as i predicted :shock: Then
shortly after he gave me some tough love because I asked to many
questions and I was forced to think for myself again. :)
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Postby PebbleTrader » Thu Oct 06, 2011 2:42 pm

Hey Aliassmith,

You message motivated me, so I took the day off and have gotten almost all of the issues worked out.

:)
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Postby newscalper » Thu Oct 06, 2011 3:12 pm

:D

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Postby newscalper » Thu Oct 06, 2011 3:15 pm

My mechanical brain sees a possible long right now on USDCAD, and a short lining up (although not yet) on GBPUSD. Thought there was a short on on EUR but the top got taken out, on that I wait another 4 hours and then see again.

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Postby PebbleTrader » Thu Oct 06, 2011 3:15 pm

I knew you guys were going to have a hard time resting your head tonight without seeing the 10x5.

Just another tool to help me build. The excessive tools which don't help me build I donate to Goodwill.

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Postby forexjpn » Thu Oct 06, 2011 4:15 pm

This may help, this may not............it may even be wrong, but I'll share what I have discovered through my observation and maybe others can add or disagree or agree or whatever.

To me, the MOMO is not always the longest/biggest bar and a long/big bar is not always a MOMO per se..........
There are various possible entry points after a MOMO............
1)the high (wick extreme) of the previous bar
2)the close (body) of the previous bar
3)anywhere in the MZ
and
4)if the MOMO is very long, the high(wick extreme) closest to the
MOMO's close is also a very common case.
and a couple more, but those are the main ones for me.

I, myself, usually use the high of the previous bar or again if the MOMO is very long, the high closest to the close of the MOMO (which could be several bars away). When, the MOMO is very long, I tend to be more cautious and wait for price to show the way, whereas for smaller MOMO's and on smaller time frames I get in right when price touches my point.

Yes, sometimes after I enter at a higher entry point, prices goes further and tags a lower entry point and sometimes it goes even further and I get out at a loss, but the majority of the time it goes as planned and I'm more than happy with that. (mind you, because of this, I would never trade directly off HTF charts)

My next step is to be able to Ride or Die, meaning I don't exactly know where to exit for those big runs, but to be honest, I don't really 'need' to. I just would be nicer if I could. For now I simply ride my entries for 1 or 2 bars or blatantly obvious Z-lines and that brings in enough pips.

If anything isn't clear, let me know and I'll try again.
And to others, if anything I wrote is incorrect, please let me know.
Thnx



newscalper wrote:I'm really hopeless! Still scratching my head and puzzling with this :roll:

Image

Image

Now I know everyone looks to get wicked in on here and now MO is saying this but originally MO did not say this

Image

Now either I don't understand or there's something else because if there was a singular method as put that was profitable there would be no need to keep changing it slightly or looking at it from different angles. It is either difinitive and 'works' or does not. End of...

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