Bigbusiness
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trendie,
There is a big gap between types of people 2 and 3, so I would be at about 2.618
There is a big gap between types of people 2 and 3, so I would be at about 2.618
FetteredChinos
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is that a secret fib BB ? the one that 95% of traders dont know about
Trendie
I think I'm safe in saying that we all aspire to achieve the precision that SC achieves in the CDs, and there are times that I get goose bumps when I'm doing the projections (particularly intraday) and they turn out exactly as I'd projected. Yesterday was a case in point in both time of day and price - more of that in a moment.
There really is a lot to take in and the technique is multi-dimensional, requiring quite a shift in thinking. Right now I would say my knowledge and application of this method is "fragile" because it's still relatively new to me and requires so much lateral thinking. But I can definitely say I would never have spotted these positions (particularly intraday) before.
Now for some thinking out loud:
I'm assuming a long term bearish stance - but that won't satisy you hungry wolves here, I'm sure!
For now, I'll be looking at 1133/34 intraday and 1126 as possible levels of support. I've noticed that 1134 was nudged shortly after the close last night.
I still see 1155 as short term upside resistance, especially after yesterday's bounce off it.
There are a few things in my mind regarding timing but I'd rather not say what just yet...at least not here anyway! I'm anticipating the short term low in a couple of days and as we get closer to it, I'll hopefully feel more confident to say more. A break of 1126 would be serious.
I think I'm safe in saying that we all aspire to achieve the precision that SC achieves in the CDs, and there are times that I get goose bumps when I'm doing the projections (particularly intraday) and they turn out exactly as I'd projected. Yesterday was a case in point in both time of day and price - more of that in a moment.
There really is a lot to take in and the technique is multi-dimensional, requiring quite a shift in thinking. Right now I would say my knowledge and application of this method is "fragile" because it's still relatively new to me and requires so much lateral thinking. But I can definitely say I would never have spotted these positions (particularly intraday) before.
Now for some thinking out loud:
I'm assuming a long term bearish stance - but that won't satisy you hungry wolves here, I'm sure!
For now, I'll be looking at 1133/34 intraday and 1126 as possible levels of support. I've noticed that 1134 was nudged shortly after the close last night.
I still see 1155 as short term upside resistance, especially after yesterday's bounce off it.
There are a few things in my mind regarding timing but I'd rather not say what just yet...at least not here anyway! I'm anticipating the short term low in a couple of days and as we get closer to it, I'll hopefully feel more confident to say more. A break of 1126 would be serious.
trendie said:robster4,
look forward to your future posts.
I do not expect you to be spot-on every time, so I suspect you should allow yourself some leeway, by posting a potential turining point, AND a plus/minus to cover yourself.
I also suspect some trades will be more "certain" than others.
In your learning about MM, are you taught to expect spot-on figures, or to expect a degree of variance from figures ?
Also, are you taught the point at which the expected turning point has "failed", and should be closed out?
If so, what in yor experience is the success/fail ratio ?
NB: there are 3 types of people here.
1: people who will buy MM anyway, but will use this thread to re-inforce an already made up mind
2: people who are intrigued, and open-minded, and may be swayed
3: people who have already made up their minds it doesnt work. Even if you got 6 out of 6, they will expect back-tests over the past 18 years, and still wont be convinced.
good luck.
(I hope I am type 2!!)
BB
I LOVE your sense of adventure!!!
Trendie, just to be clear - we MM enthusiasts are taught to look at time first, then price. That's why the intraday data has been so helpful. Until I'm happy with time, I'm reluctant to give a price. But suffice to say that at this minute I'm looking at early next week for a low. Once I can see it materialise, then I can dig for the price.
I LOVE your sense of adventure!!!
Trendie, just to be clear - we MM enthusiasts are taught to look at time first, then price. That's why the intraday data has been so helpful. Until I'm happy with time, I'm reluctant to give a price. But suffice to say that at this minute I'm looking at early next week for a low. Once I can see it materialise, then I can dig for the price.
Bigbusiness said:
FetteredChinos
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trendie.. i think BB is going for part b...
180 degrees etc...
i recommend reading assorted "outside of the box" posts on Tactical trader. lot of useful info on there, though some of it is quite mindblowing.
CJ (a320s) posts are very informative, if you can look past the smokescreens he puts up
FC
180 degrees etc...
i recommend reading assorted "outside of the box" posts on Tactical trader. lot of useful info on there, though some of it is quite mindblowing.
CJ (a320s) posts are very informative, if you can look past the smokescreens he puts up
FC
trendie
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FetteredChinos said:trendie.. i think BB is going for part b...
180 degrees etc...
i recommend reading assorted "outside of the box" posts on Tactical trader. lot of useful info on there, though some of it is quite mindblowing.
CJ (a320s) posts are very informative, if you can look past the smokescreens he puts up
FC
the penny dropped as soon as I posted.
furiously trying to find my Gann square of nine calculator, cardinal points, et al.
FetteredChinos
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FetteredChinos
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i should stress, that pun was intentional
FC is that the website www.tacticaltrader.com?
Also I am looking into these mathematical methods and wondering whether to spend $175 on The delta phenomenon book or go all out $1999 on MM. Are there any good starting points?
Also I am looking into these mathematical methods and wondering whether to spend $175 on The delta phenomenon book or go all out $1999 on MM. Are there any good starting points?
FetteredChinos
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thats the one Verno.
a good starter would be to get your local library to order the book for you. costs a small fee. but is a damn sight less that $175
i wouldnt go for MM (not that i have read it) without learning about cycles/delta beforehand..
might end up blowing a fuse if you arent ready for it..
FC
a good starter would be to get your local library to order the book for you. costs a small fee. but is a damn sight less that $175
i wouldnt go for MM (not that i have read it) without learning about cycles/delta beforehand..
might end up blowing a fuse if you arent ready for it..
FC
Bigbusiness
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trendie said:Bb, are you:
a: implying you have access to MM
b: showing there is another (accessible and cheaper) method that arrives at 1155
c: any old equation can arrive at 1155
d: something else
I was going for b: but I think a320's idea is better.
I have tried lots of different Fib and Gann lines in excel and they look great but I find picking the areas that are going to work is a bit subjective and doing that in real time isn't as easy. I find the method in the 'Trading day by day' book, looking to go with the trend is better than trying to get exact highs and lows. Why guess the high and low when you can make money on the way to it and make some more if the turn doesn't happen?
I did read that someone who went on the Nexus day claimed that it made Delta a bit more accurate and that the turns were correct about 80% of the time but even then, it seems highly subjective, the turn might not produce a good profit and I would want to know how the trades that lose work out. It is a shame that so many people selling trading methods seem to concentrate on how often a profit is made. I am more interested in where the stop is placed and how you know when to get out of a trade.
"...and out for now..." half stake that is at 1147
original stop was at 1157 - pulled it down to 1153.5..
I couldn't resist the short at 1149...we were so over extended on the 5-min bars. Still watching closely...am pretty much in a no-lose position for a quick intraday...
original stop was at 1157 - pulled it down to 1153.5..
I couldn't resist the short at 1149...we were so over extended on the 5-min bars. Still watching closely...am pretty much in a no-lose position for a quick intraday...
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Eh?
Still watching closely, would like to see some more in this move. Now in a no lose position - is a funny experience commentating on it!
==>
Moved my stop to 1145 as we hit 1143/4 and stopped out for a 5 point intraday move. Nothing spectacular but a nice illustration.
Still watching closely, would like to see some more in this move. Now in a no lose position - is a funny experience commentating on it!
==>
Moved my stop to 1145 as we hit 1143/4 and stopped out for a 5 point intraday move. Nothing spectacular but a nice illustration.
a320 said:
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FetteredChinos
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naughty CJ...