'No indicators' revisited

This is a discussion on 'No indicators' revisited within the Technical Analysis forums, part of the Methods category; oatman I don't think that's what Skimbleshanks meant. I got the impression that by analysing the bars it was possible ...

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Old May 27, 2004, 5:52pm   #641
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oatman

I don't think that's what Skimbleshanks meant.

I got the impression that by analysing the bars it was possible to determine that the end of the trend was nigh.

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Old May 27, 2004, 5:52pm   #642
 
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Bracke, at 1419 you didn't have an established channel. In fact you could have bought a break through 1420.
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Old May 27, 2004, 6:00pm   #643
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Oatman,
By "clear" do you mean the way the channel lines are drawn in ?
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Old May 27, 2004, 6:02pm   #644
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Channels - Try this:

Buy 2 at the bottom. Sell 1 at the top. Buy 2 at the bottom (now long 3), sell 1 at (near) the top. etc. Trail stop along the bottom of the channel.

This way you are profiting on each leg, while also holding on for the long term move with patience. If it happens you've made a lot of money. If it doesn't, you've still made some money. You build your long term position as the channel moves, while also taking a chunk home on the legs.

No waves, no theory, just intuition and jiving with the beat of the market.

Trade management and managing yourself are where you make your money. Knowing how to manage your trade according to what tune the market is playing separates the men from the boys, and something few ever seem to post about as its not widley known.

It would make a good thread, but its handed down from Jedi to Jedi on a need to know basis only. Sorry about that.


Last edited by BBB; May 27, 2004 at 6:09pm.
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Old May 27, 2004, 6:05pm   #645
 
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Hi all, apologies for any break in the natural flow of this thread, but I'd just like to say how very useful it has been for me.

I'm a real beginner and wasn't getting on too well with the plethora of indicators and systems that I was studying. There was just too much and too many. And the more assiduously I studied them, the more they managed to give me completely contradictory indications of the market's action. Of course, that may just have been my 'green'-ness in interpreting them.

However, this indicator-less trading is a real find and I want to thank all who contribute. I'm afraid my inputs will be negligible for obvious reasons. When I get to the point where I can understand 10% of what's going on in here, I'll be opening the champagne.

Cheers!!!
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Old May 27, 2004, 6:14pm   #646
 
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I don't want to cloud the issue with channels here when I'm trying to get away from them but it all depends on timeframe. The last chart posted shows a channel established on a daily basis. If you then look intraday you see several channels over this period.

If you look further you can see channels within these channels.

It is a question of time and movement I think and of course how much of each dictates profitability or otherwise. I have again superimposed on those of others.

I am trying to get comfortable with visualising these various movements as they are without this "support"
Attached Files
File Type: doc Timeframe.doc (2.30 MB, 189 views)
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Old May 27, 2004, 6:14pm   #647
 
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Chump, I didn't like the look of it. Not clearly enough defined for me. Rog's one was good. I don't like to force a pattern. It's good when it jumps out at you. Just my opinion.
It's how you want to use the charts.
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Old May 27, 2004, 6:17pm   #648
 
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Rog, that's what I'm getting at. Even if you don't use channels, you cannot fail to notice the first one you posted. The second one, for me, is not so obvious.

rogn, your last attachment hasn't materialised yet.
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Old May 27, 2004, 6:22pm   #649
 
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Sorry about the size of the attached - here it is again in more manageable form - I hope
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Old May 27, 2004, 6:27pm   #650
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Yes, I see what you mean ..thank you.
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