The funniest thing you have heard on a trading forum?

[trader_dante]

bang on 1318 on 17th May. Went as low as 1316 and as high as 1345. 2 handles against you and 27 handles in your favour. That's not bad R:R. Support and Resistence works for those who know how to use it. This is a great example of how Support and Resistence does work.

Thanks Brett,

I agree ; you do have to know how to use it.

People will always point out that for every "support" or "resistance" level that works, there are five others that fail. They may or may not have a point but you have to know how to pick them.

As I said, on that S&P chart there were multiple levels but only one that had a high probability of holding as future support in my opinion.

 

[bbmac]

ain't that the thing !

Thanks Brett,

I agree ; you do have to know how to use it.

People will always point out that for every "support" or "resistance" level that works, there are five others that fail. They may or may not have a point but you have to know how to pick them.
As I said, on that S&P chart there were multiple levels but only one that had a high probability of holding as future support in my opinion.

 

[riadMOMO]

I'm pretty open minded to all types of trading and watching tape does interest me. The summary tape and the reconstructed tape isn't offered elsewhere at all? It does look good.

the summary tape is looking at the war from a third party and you choose the strongest ; and with cumulative delta you have become a professional trader.

 

[Phylo]

My (Phylo) post: Posted for educational consideration and by way of resonance reference to thread by Mr.Grouch.

Its decompiled code - so the consensus is it is illegal code and no-can-do.
...it's base off, at default, a 48 moving average.
The default MA mode [extern int Ribbon_Mode = 3;] equates to 48 Linear Weighted MA
(for ref: 0 = SMA, 1 = EMA, 2 = SMMA, 3 = LWMA)

Comment - personal opinion - re code:
Using oscillators based off moving averages (and so many are) is like using a pen or pencil but holding it at the opposite end to the writing point.
Words can be written but they will be untidy and inaccurate. The sensible thing is to hold the pen / pencil at the writing end.
Similarly, why not just use the MA. Its KISS utility - far more accurate and not a half useless mesmerizing shiny toy.

The below has some resonance with the above - albeit late in the day..

The humour - for us - is the individual below (a constant indicator free coding contributor) is a text book grouch who habitually berates recipients negotiating his thorny charity with mini lectures and rebuttals like, 'Don't try to be smart when you are not!.'
And it took Mr.Grouch his whole own thread of solid posting to wise up to his own words of wisdom !
It may be a case of - you'd have to have been there (know the history) to see the funny side.
We can't stop !

Awarded a Frame IT award it will duly grace our Frame IT wall of fame.

If one takes a giant mental leap the quote can be morphed into something of meaning. In the contents of the post it's just the lid blowing off !

The only way to make money in trading is to be consistent and have no ideas at all,

Thread by Mr. Grouch

(text in color purple)

I am closing this thread.
One reason is that nobody is interested.
Another reason is that all those indicators are total Bull Shit!
They tell you nothing, completely nothing!
The only way to make money in trading is to be consistent and have no ideas at all,
just take the stoploss, and take the takeprofit.
If anyone, ever tells you that indicators mean anything, they are selling you Bull Shit!

Only a few people can be successful at this thing!
So, stop fooling yourself!
You either have what it takes, or you don't.

Date: 14 April 2022.

If anyone, ever tells you that indicators mean anything, they are selling you Bull Shit!

and ....Dec 2022.
Mr.Grouch continues to code free indicators like crazy !

 

[doco]

Just wear a mask, that will solve the problem...

(I keep mine off - it's easier to smell the bullshit.)