Reversal Magic
- Thread starter Machiavelli
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Buy The Dips
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Greetings all, great thread.
Anyone currently charting RM?
If so, are the Reversal Magic Lines giving any significant reversal dates for the S+P 500 on the daily and weekly charts here coming up?
Any dates and charts welcomed.
I've read alot of the public Mike Parsons material and he says he doesnt hold positions overnight. Does this mean it works better intraday? than daily or weekly?
Thanks.
Anyone currently charting RM?
If so, are the Reversal Magic Lines giving any significant reversal dates for the S+P 500 on the daily and weekly charts here coming up?
Any dates and charts welcomed.
I've read alot of the public Mike Parsons material and he says he doesnt hold positions overnight. Does this mean it works better intraday? than daily or weekly?
Thanks.
Buy The Dips
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Ahh, I figured it out.
It's merely a variation of the Gann Box.
Combination of Gann Box with Wolf wave techniques.
Works nice.
It's merely a variation of the Gann Box.
Combination of Gann Box with Wolf wave techniques.
Works nice.
systembuilder
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Can anyone of you present the essentials of that MR-Theory? What lines must I draw, when can I apply the theory, what are the special cases?
I'm inclined to agree with LevII here ... it would be pretty difficult for anyone to do what you're asking even if they felt like it: there are hundreds of pages of the stuff, and it's not as if it's expensive, anyway. If you want a recommendation, I offer this: I was pleased that I bought it and I certainly got something out of it and considered it good value. I also found the author approachable and helpful.
JohnRandle
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How i look at the drawn charts its "only" a time-signal for turning the market.
Sorry for my bad english.
:cheesy:
Sorry for my bad english.
:cheesy:
So is this a tool to make money or a tool to interpret the markets?
I have gone through the posts in this thread and my impression is that no-one who actually bought it is using it to make money, but rather and at best to interpret the markets.
Can this be actually used for making money and is anyone successfully doing it or is it just a nice tool to see things in hindsight? If it cannot be used to make money, please tell me why.
Please advise.
TIA...
I have gone through the posts in this thread and my impression is that no-one who actually bought it is using it to make money, but rather and at best to interpret the markets.
Can this be actually used for making money and is anyone successfully doing it or is it just a nice tool to see things in hindsight? If it cannot be used to make money, please tell me why.
Please advise.
TIA...
Last edited:
Bigbusiness
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I didn't think this method worked well. Sometimes it points out a market reversal but I didn't think there was anything magic about it. If if worked a high % of the time, then I might want to trade it but I thought there were far too many times when it doesn't work. Perhaps if you have other methods for spotting reversals, it could increase the accuracy but I don't think most people would be able to use this on its own.
FetteredChinos
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well summised BB, and i agree.
in harry hindsight it looks promising, but trying to incorporate it into a real-time method, then you would have problems.
the only time i think it might work is when trading daily, or even weekly candles, in which case it is a powerful tool.
as regards intraday, then forget it. you will end up with about a million lines all over your charts..
confucius say, many lines does not a trader make.
in harry hindsight it looks promising, but trying to incorporate it into a real-time method, then you would have problems.
the only time i think it might work is when trading daily, or even weekly candles, in which case it is a powerful tool.
as regards intraday, then forget it. you will end up with about a million lines all over your charts..
confucius say, many lines does not a trader make.
nine
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If you want a reversal based technique you would probably be better looking at John Crane's work. I've got both and John's is much more precise. I used it on end of day commodities some time ago but havent been using it since I moved to intraday ... must try it and see if it works.
I'd say....
ho hum, it works reasonably well overall, but like a lot of things you realise what you THOUGHT it would do isn't what it does, but what it does is in line with what is claimed for it.... it produces turn points, and I for one think it's very interesting to see this sort of thing coming up when predicted. I'd also say you you could spend 24 hrs a day drawing lines on charts, and maybe I'm thick but I often had to print rather long period charts out to find turns in the near future.
For trading - the best use, at a guess, would be to predict the turns and then trade normally - when you thought you'd spotted an entry you could compare to predicted turns and if they coincided it'd perhaps add a touch of confirmation, making you happier to get in a bit earlier. That in itself could improve returns a fair bit.
I bought it, I have a sort of annual budget for checking interesting things out, RM is one of half a dozen I looked at this year. Do I trade using it? Naaah. Some might though, it's not without merit - I personally didn't feel compelled to follow it.
Dave
ho hum, it works reasonably well overall, but like a lot of things you realise what you THOUGHT it would do isn't what it does, but what it does is in line with what is claimed for it.... it produces turn points, and I for one think it's very interesting to see this sort of thing coming up when predicted. I'd also say you you could spend 24 hrs a day drawing lines on charts, and maybe I'm thick but I often had to print rather long period charts out to find turns in the near future.
For trading - the best use, at a guess, would be to predict the turns and then trade normally - when you thought you'd spotted an entry you could compare to predicted turns and if they coincided it'd perhaps add a touch of confirmation, making you happier to get in a bit earlier. That in itself could improve returns a fair bit.
I bought it, I have a sort of annual budget for checking interesting things out, RM is one of half a dozen I looked at this year. Do I trade using it? Naaah. Some might though, it's not without merit - I personally didn't feel compelled to follow it.
Dave
Wally,
All I can find so far is this one book;
http://www.amazon.co.uk/exec/obidos...8298/sr=1-1/ref=sr_1_10_1/202-1487003-4751813
I guess you can get it from your US site proportionally cheaper.
G-Man
All I can find so far is this one book;
http://www.amazon.co.uk/exec/obidos...8298/sr=1-1/ref=sr_1_10_1/202-1487003-4751813
I guess you can get it from your US site proportionally cheaper.
G-Man
Who Was The Real Author?
Many years ago a Kurt Amacher of New York sold an identical reversal method called The Predictor. The entire manuscript was type written and Amacher even included one whole year of Pork Bellies trades, hand written. I still have that manuscript.
Years later, I bought the Reversal Magic and to my sirprise it turned out to be the same Amacher material, including the mathematical formula, but Parson missed out a couple of minor points like calculating the approximate time of the reversal.
So who was the real author of this Reversal method?
lynx
Skimbleshanks said:
Many years ago a Kurt Amacher of New York sold an identical reversal method called The Predictor. The entire manuscript was type written and Amacher even included one whole year of Pork Bellies trades, hand written. I still have that manuscript.
Years later, I bought the Reversal Magic and to my sirprise it turned out to be the same Amacher material, including the mathematical formula, but Parson missed out a couple of minor points like calculating the approximate time of the reversal.
So who was the real author of this Reversal method?
lynx
Agisthos said:
I can't do that without infringing the copyright of Amacher. What's your email address? If you are interested in the method and already have a copy of RM, I can discuss the time calculations with you. It's quite simple, but involves a bit of daily research. Personally, I didn't find the extra work worthwhile. It's enough for me to have an idea of the reversal dates and I just look for coincidence with other indicators or chart patterns or Fibo levels or Hurst envelops etc. If you try to work this method by hand, you will run into the problem of selecting the right pivots...just like selecting pivots to generate Fib levels. Luckily, there is now a set to tools (2 in nos.) by Jan Arps that automate the date calculation. It's not the last word, but good enough to speed up the process, just like what the NexGen T-3 software does for Fib levels.
I'd say it's a tool to help interpret the markets. There's nothing in the book about stops, or exactly where to enter or exit trades. It's definitely discretionary. The method revolves around a couple of trendlines. I won't explain how to use it, but you can easily draw way too many trendlines and confuse yourself with this method.wally_ said:
