Does technical analysis work or not?

[timsk]

Since we are helping tim with trading techniques . . .

I know I'm negating my post, above - but it's only fair to let you know Joe that I think one of us is away with the fairies. I expect you'll say it's me, which is fair enough, given that your post may as well have been written in an obscure foreign language for all the sense it made to me.

Thanks for trying to help all the same, lol!
Tim.

 

[userque]

Hi Joe,

A couple of questions:

1. Can there be more than one bank?
2. Are any of the banks at an angle, or are they always horizontal?

 

[EnlightenedJoe]

Hi Joe,

A couple of questions:

1. Can there be more than one bank?
2. Are any of the banks at an angle, or are they always horizontal?

There might be 20 banks for all we know. But what difference would it make ? They would not take money from each other, gentlemen's agreement and what not. Their presidents and owners probably swap sons and daughters for marriages etc. Besides, retail joes' money is way easier. You can take joes' money and they would blame their own psychology and then would come back for some more. Taking another bank's money would be serious fight and not really worth the damage.

Banks go sideways, upways, leftways, rightways, so long as there is a small chance of dislodging positions. They go to where the positions are.

 

[userque]

There might be 20 banks for all we know. But what difference would it make ? They would not take money from each other, gentlemen's agreement and what not. Their presidents and owners probably swap sons and daughters for marriages etc. Besides, retail joes' money is way easier. You can take joes' money and they would blame their own psychology and then would come back for some more. Taking another bank's money would be serious fight and not really worth the damage.

Banks go sideways, upways, leftways, rightways, so long as there is a small chance of dislodging positions. They go to where the positions are.

Thanks. So the banks have characteristics similar to support and resistance levels/lines? If I buy at strong support, and sell at strong resistance, I essentially traded inventory, or no?

 

[forker]

There might be 20 banks for all we know. But what difference would it make ? They would not take money from each other, gentlemen's agreement and what not. Their presidents and owners probably swap sons and daughters for marriages etc. Besides, retail joes' money is way easier. You can take joes' money and they would blame their own psychology and then would come back for some more. Taking another bank's money would be serious fight and not really worth the damage.

Banks go sideways, upways, leftways, rightways, so long as there is a small chance of dislodging positions. They go to where the positions are.

this post wins the nonsense of the week award

 

[EnlightenedJoe]

Thanks. So the banks have characteristics similar to support and resistance levels/lines? If I buy at strong support, and sell at strong resistance, I essentially traded inventory, or no?

The bank can punch through your positions with the same strength they punch through the support resistance levels. Positions at those levels gives you no more advantage than where you are now without additional understanding of what is going on.

Inventory comes from study of the bank's business. It has nothing to do with the lines I drew. Those are just for my convenience to see where the bank is at relative to where I am at.

If you want something that works better than what you have, you have to understand the bank's business, how they go about making a profit. In any case a good start would be to watch forker closely. He doesn't understand the stuff he says, but those are from the bank's standard handouts, usually looking good on the surface but is designed to give the bank an advantage. Just do exactly the opposite of what he advises.

 

[userque]

The bank can punch through your positions with the same strength they punch through the support resistance levels. Positions at those levels gives you no more advantage than where you are now without additional understanding of what is going on.

Inventory comes from study of the bank's business. It has nothing to do with the lines I drew. Those are just for my convenience to see where the bank is at relative to where I am at.

If you want something that works better than what you have, you have to understand the bank's business, how they go about making a profit. In any case a good start would be to watch forker closely. He doesn't understand the stuff he says, but those are from the bank's standard handouts, usually looking good on the surface but is designed to give the bank an advantage. Just do exactly the opposite of what he advises.

LOL...I was just curious and seriously trying to understand what you've been talking about.

I'm up 170+% so far this year trading NUGT/DUST with subscribers to my system on C2. Thanks, but no.

 

[EnlightenedJoe]

LOL...I was just curious and seriously trying to understand what you've been talking about.

I'm up 170+% so far this year trading NUGT/DUST with subscribers to my system on C2. Thanks, but no.

170% is very good. But understanding the bank's business will making 1000% quite ordinary. I'd never have subscribers to my system. There wouldn't be any point, and they would just make me a bigger target for the bank to aim for.

 

[userque]

170% is very good. But understanding the bank's business will making 1000% quite ordinary. I'd never have subscribers to my system. There wouldn't be any point, and they would just make me a bigger target for the bank to aim for.

Thanks. 1000% is even better. My algo is based upon price action patterns, so I don't think this elusive banks-business could help me there.

 

[EnlightenedJoe]

Thanks. 1000% is even better. My algo is based upon price action patterns, so I don't think this elusive banks-business could help me there.

True enough. By necessity, inventory action has to go opposite to price action.

 

[metrader]

[/quote]

banks go sideways, upways, leftways, rightways, so long as there is a small chance of dislodging positions. They go to where the positions are.

.

 

[EnlightenedJoe]

Trouble with retail joes is that they can only see the atm but blind to the bank behind it.

 

[userque]

True enough. By necessity, inventory action has to go opposite to price action.

If I could download historical 'inventory action' data, I could then plug it into my algo and trade it.

 

[EnlightenedJoe]

If I could download historical 'inventory action' data, I could then plug it into my algo and trade it.

Just call up the bank and ask: hey bud, what's your inventory like at the back ?

Last time I read, Deutsche banks run most of the atm's for retail joes. They would make a good starting point for you.

 

[babyjake1961]

What a load of BS in a hijacked thread this is.

 

[userque]

Just call up the bank and ask: hey bud, what's your inventory like at the back ?

Last time I read, Deutsche banks run most of the atm's for retail joes. They would make a good starting point for you.

LOL...the previous posts made you sound nuts, I just wanted verification. I wish you continued success your elusive inventory system. Whatever works for each of us!

 

[EnlightenedJoe]

LOL...the previous posts made you sound nuts, I just wanted verification. I wish you continued success your elusive inventory system. Whatever works for each of us!

Success is yet to be seen. Continued, definitely, especially when it pays 2000-3000% interest a year. Even if I am not greedy and just take 0.5% a day for the account, I'd beat all the algos out there on the internet, and I don't even need to plug in anything.

 

[babyjake1961]

It is sad how traumatic trading experiences can be - to the point one becomes utterly delusional.

 

[EnlightenedJoe]

It is sad how traumatic trading experiences can be - to the point one becomes utterly delusional.

You should ask tim to verify the numbers. I think he fancied taking my old job of being the official statements checker on t2w.

 

[babyjake1961]

Why would I ask someone I don't know to verify something about someone else I don't know?