The market always knocks three times

qazwsxedc · Feb 19, 2007

On a wild and exciting day like today

I think we have time for a question. "The market always knocks three times" is a bit of floor trader lore. Is there any quantifiable way to turn this into a tradable edge or is it just a legend?

Bez · Feb 19, 2007

Knocks three times as in three intraday tradeable moves :?:

Or Three moves on a higher time frame :?:

dc2000 · Feb 19, 2007

The market gives you two to enter three to exit the fourth will slap you hard

ammo · Feb 19, 2007

dc2000 said:
The market gives you two to enter three to exit the fourth will slap you hard

today in spus would be the 4th knock on the 1460ish resistance line connecting may hi with Dec hi although i wouldn,t count fridays exp or today since the U.S. mrkts were closed, maybe those sayings work but i wouldn't feel smart trading on them

qazwsxedc · Feb 19, 2007

Bez said:
Knocks three times as in three intraday tradeable moves :?:

Or Three moves on a higher time frame :?:

Neither. I've heard it applied to trying to break through resistance or support intraday. Bit difficult to turn into reproducible rules though, that's why I asked.

Bez · Feb 19, 2007

Oh the old Gann rule...If it fails on the 4th attempt its fatal..

Its very workable intraday with in EW patterns such as ending diagnals.....

qazwsxedc · Feb 20, 2007

Bez said:
Oh the old Gann rule...If it fails on the 4th attempt its fatal..

Its very workable intraday with in EW patterns such as ending diagnals.....

Well yes, but that's the rub: I'm looking for a rigourous way to test whether this kind of thing can provide a tradable edge. EW patterns are alwys subject to interpretation, more art than science.

TWI · Feb 20, 2007

I do not think this provides a robust edge.

qazwsxedc · Feb 21, 2007

TWI said:
I do not think this provides a robust edge.

I don't *think* so either, but then my best edge seemed counterintuitive when I first checked it out. Hence my desire to quantify it.

The market always knocks three times

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