Back to the Future – My Freewheeling Journal

So... How to discriminate between relevant and irrelevant stuff?
I can only speak about me... and my personal experience.
My reference is this, very simple:

Does this thing (principle/technique/tool etc...) help me in reading and understanding a chart?
Do I find in this thing a better explanation about price behaviours and dynamics?
Does this respond to what I see everyday on the battlefield?
Am I trading better with it in my toolkit? Do I see prices in a clearer way?

Easier said than done. I know.

Am I having a relaxing week-end?
“Relaxing my foot”... “Relaxing my aunt Fanny”... as I heard many many years ago in England.
It is Sunday and... as yesterday, I have been doing and I am doing my homework on my charts and books!

Take markets at home. This is my uncommon suggestion.
Multiply the hours of exposition to the Price Behaviour. Internalize all you can. Be one with your charts.
Infinite nuances... shades... subtle variations in the patterns.
A joy for the eyes and the mind...
Yes. When you are not in a trade!!!! ROFL

Where is the trouble? You must know what are you looking for!
So... things run in circle, a “vicious circle”. And we are at the “Start Point” again.
Knowledge. We need knowledge!

The Bible(s) of Technical Analysis.

The "TRUE" Livermore... (and everybody reads "Reminiscences...", instead! )

And as you know... I love Bill Williams!

Dancing with the market
is moving with the flow of the market up, down, or sideways
with a feeling of harmony, trust, gratitude, and yes, even love. (Bill Williams)

An incentive, stimulus, incitement for advanced students only...

Study & Practice.
Build YOUR OWN "(Personal) Mental Road Map".
Conviction, Discipline & Determination.

So... to give and offer a list of books it's not at all an easy task.

Candlesticks... Nison, of course, and Bigalow
Patterns... Bulkowsky (candlesticks), John Hill (Scientific Interpretation of Bar Charts)
Indicators and Technique... W. Wilder
Waves... Elliott and Pretcher
Swing Trading... A. Farley (very good), Linda Ratschke, Al Brooks, Lance Begg and D. Landry
MA... J. Kennedy (as an introduction!)
Wave 34... Raghee Horner
50 sma... Steve Primo
Technique... Bryce Gylmore, Taylor, Crabel
Traders... Darvas and Schwartz... Schwager: Market Wizards - New Market Wizards

Wyckoff... The Course
Gann... his private courses
Krausz... Gann Treasure Discovered

Psychology... Steenbarger
Global Vision... Kaufman - Trading Systems and Methods


P.S.
> As I already said and now repeat again: every book would need a specific review about what to retain and what reject.
> The fact that this path is perfectly comparable to an University Program of Studies was - more than abundantly - already discussed.

Oh yes... Instead of study the instrument for ten, twelve years in a Conservatory,
one could go to the kiosk and buy something like “All Guitarists in Three Days!”

End of the usual rant... with something very quick.
Some ideas.
Some conversation themes. Starting from the first Brooks' line: "There are no rules." Are you sure?

Now... this is Thursday plus Friday on a DAX m5.
The Bears' desperate fury... against the Bulls' determinated Force.
Any trouble in seeing it?

I was a buyer all the day long and concluded my day with the ambush at 450 in the afternoon!
I think that the reason why is now clear enough...

During the same period: a perfect (textbook) Ascending Triangle on H1.

Successful Trading is NOT impossible.
QED, quod erat demonstrandum.

Thanks for the rant and the suggestions
I do not als everybody this question but i decided to ask you because indeed you are different

I tried to answer (my way) to a nice question that I think useful for everybody.
Of course it is my “not impartial” view... filtered through my beliefs and education.

Dear Jupiter,

i found your thread only few days ago. and i would like to thank you. i agree with your point of view and i like it. trading is simple but not easy. many traders fail to manage their ego and beliefs. trading is not for everyone. it means years of sleepless nights to find all pieces of the puzzle. and yes. it is possible. market is readable if you pay attention.

although i have not joined the conversation yet, i follow your screenshots and try to do my homework first. questions may come later - in case you will stay here and continue to post your views.

your pyramiding is just awesome. it inspired me to rethink how to participate in markets.

the last but not least - ideas in pdf's you posted are very deep. unfortunatelly many traders will not see what is written there. but there is no shortcut

wishing you all the best!

Welcome here, st1.
Thank you.
I'm just trying to speak clearly and frankly. With my heart in my hands.
Please: contribute and participate to the conversation.

This words are offering to me another chance to go deeper ...
This post could be a great post or a disaster. OK. I'll try.

Study & Be Prepared, WAR is an ART! Yeah! That's my message. Fti's message as I read it....
The reason why, naturally as usual, was well expressed by Sun Tzu.
"A kingdom that has once been destroyed can never come again into being...
nor can the dead ever be brought back to life...."
Yes. The Retailers and their accounts, in the first place, due to their ignorance.
But what about some good big traders too? (Starting by Jesse Livermore himself)
Or some rogue Traders?
And the Banks' crisis?
Some Brokers gone, as well?
Or some epic battle as George Soros against the Bank of England?

Market are, at the end of the day, REAL Battlefields for ALL the actors on that stage!


Sun Tzu- Laying Plans
26. Now the general who wins a battle makes many calculations in his temple ere the battle is fought.
The general who loses a battle makes but few calculations beforehand.
Thus do many calculations lead to victory, and few calculations to defeat: how much more no calculation at all!
It is by attention to this point that I can foresee who is likely to win or lose.

I meditated for a very long time on this amazing lesson coming to us from the past!
For centuries Generals and Commanders – during their education - have been trying to figure out its meaning and consequence.

Battles are won or lost before they are started.
There is much in the way of preparation and planning that is required.
If you are prepared for the many possible actions of the enemy and the fickle hands of fate,
then you may take advantage of opportunity and avoid the horrible surprise of being outplayed by the leaders on the other side.

What am I talking about (adapting this lesson to trading)?
> General Knowledge: Trading History, Methods and Systems... Market Structure... Price delivering... Actors and their rules... etc etc
> Specific Knowledge about the battle your are going to fight in the NOW: main Trend, S and R, retailers stop losses position... etc etc

The Five Factors are in post #10!
The Seven Considerations/parameters/criteria are in post #745

As General Dwight David Eisenhower said, “Plans are nothing, but planning is everything.”
We can discuss until the cows come home. Do retailers want to understand or not?
Just some points... (but I could really go on for hours and hours.)

Planning Error #1: Relying on Plans Leads to Failure. (You must adapt whatever you’re doing to the circumstances truly at hand.)
Planning Error #2: Lack of planning leads to failure.
Planning Error #3: Oversimplifying Reality Leads to Failure.
Planning Error #4: Not Trusting Your Scouts/Men Leads to Failure
Planning Error #5: Lack of a Clear Commander’s Intent Leads to Failure

One of the most difficult problems which confronts any commander who has committed his forces in accordance with a well-developed plan
is to alter this in the light of changing circumstances.
Sun Tzu recognized the inherent difficulties, both intellectual and physical, and repeatedly emphasized that the nature of war is ceaseless change.
For this reason operations require continuous review and readjustment.
Incorporate sufficient flexibility to adapt strategies and tactics to make constructive use of unforeseen events, both favourable and unfavourable,
as an inherent element of all plans, strategies, and tactics.

If one does not consider alternative scenarios he may be surprised. The unexpected could always happen!
If one does not build resilience and readiness, he may be defeated by more agile competitors.

So: be prepared.
“Abandon all hope ye who enter here". (Hope, ego and opinions... )
I never promised you a rose garden.
If someone did it... he was lying.

Just one thing: after years and years I changed my view. Trading is neither easy nor simple.
We are just navigating on the surface!
There's much, much more about the Complexity's idea...

Trite meaningless talk? Not so fast.
These are not -in my intentions- stupid, empty, useless motivational speeches. I'm talking of practice! Build your Mental Road Map.
Find your balance (internal and external).

If... Then...

Your thread is back... so glad.

Alex