In the course MSJ also uses the 25 and & 75% fib levels so one can draw a fib in the angle range and draw additional intersecting lines
1
- #1,283
- Jan 19, 2020 3:02pm Jan 19, 2020 3:02pm
- Joined Mar 2009 | Status: Trader | 2,571 Posts
My pleasure I have also been drawing my angles by hand using TradeStation with stocks but stumbled on the script by accident. Having read his books and squaring charts every day It’s time to take things to the next level
- #1,288
- Jan 20, 2020 5:40am Jan 20, 2020 5:40am
- Joined Oct 2017 | Status: Trader | 12,472 Posts
{quote} Aworex, well said. Good Post. "I only discovered MSJ while researching Gann I just stopped all my old methods and read all his books I could lay my hands on. After watching his 6hr course there was no going back". Unfortunately, most of us as traders complicate matters by adding a lot of crap to their charts, just to become confused even more. If there were more readers out there to whom that were willing to pay attention to what they just read, they're financial situation would change immediately. P
- #1,290
- Jan 20, 2020 6:37am Jan 20, 2020 6:37am
- Joined Jan 2019 | Status: "Ideas stimulate the mind" | 4,203 Posts
{quote} Diamond you are right
{quote} it looks like me when I started... Lost in the space
You NEVER will be the person you could be, without pressure & discipline
- #1,292
- Jan 20, 2020 7:17am Jan 20, 2020 7:17am
- Joined Oct 2017 | Status: Trader | 12,472 Posts
{quote} it looks like me when I started... Lost in the space
newbies and dummies are newbies and dummies
I was a beginer and I was a dummie
- #1,293
- Jan 20, 2020 7:21am Jan 20, 2020 7:21am
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
Know what you trade
- #1,294
- Jan 20, 2020 7:27am Jan 20, 2020 7:27am
- Joined Oct 2017 | Status: Trader | 12,472 Posts
{quote} it looks like me when I started... Lost in the space
it is a real interesting subject about human and trading psychology
it is just the application of false common sense " the most information you have, the best decision you will take"
the same guys will tell you some chapters later in his (expensive) book " too much information, kill or drown the information"
but everybody do the same and save and add the information "just in case"
moreover no trader have the least idea about the real meaning and the limits of the indicators they use
I see that all the time with Centered Moving Averages !
- #1,295
- Jan 20, 2020 7:44am Jan 20, 2020 7:44am
- Joined Jan 2020 | Status: Membership revoke | 2,332 Posts
moreover no trader have the least idea about the real meaning and the limits of the indicators they use I see that all the time with Centered Moving Averages !
Know what you trade
- #1,297
- Edited 11:57am Jan 20, 2020 9:20am | Edited 11:57am
- Joined Oct 2017 | Status: Trader | 12,472 Posts
{quote} Alain, in 1989 I was Chief Chemist for a multimillion dollar well funded research laboratory. I was given the task to do what was termed impossible by any sense of the word. Eventually, successful results were derived and it came from simplicity, and nothing more. It became a lesson I would never forget, I today see trading as the same situation, use simplicity and nothing more.
Let's talk about Cycles and simplicity.
a) you can just observe and count - sometimes with your hand or draw bars on a sheet of paper !
if you analyze the Bovespa chart hereunder , you can count 8 cycles for 17 equal squares - here 1 square = 9 months
hence you can infer that on this chart the brazilian Bovespa shows an 18 months + cycle (17 / 8 = 2,125 months)
b) to reassure you you can also invest your time and some money to understand the Fourier Transform applied to time series.
The Fourier Transform extracts from the Time series the frequencies at work within the data you use, even those frequencies you do not notice (above all those you do not visually observe , hence you do not use (my opinion)
moreover guys involved in the field will told you that Fourier Transform is an old thing and that there are "better" and more sophisticated methods now to do the same thing.
The same guys will explain you that in spite of the excellent results about frequencies at work in the data you use generated by Fourier and co, it is safer to apply to these excellent results some filters ( I do not remember the names because here also there are filters which filter better than others.
The aim of the filters is to separate the wheat from the chaff. Because it seems that some ghost, echo, aliases, unexistent , in short unusable frequencies slipped secretly in the excellent results just to confuse you and me
All that work is done to confirm yourself that the 18 month + cycle you see with your eyes using both lobes of your brain is not a fake but a real cycle.
{quote} Diamond I fully agree ! Let's talk about Cycles a) you can just observe and count - sometimes with your hand or draw bars on a sheet of paper !
P
You NEVER will be the person you could be, without pressure & discipline
- #1,299
- Jan 20, 2020 10:41am Jan 20, 2020 10:41am
- Joined Jan 2019 | Status: "Ideas stimulate the mind" | 4,203 Posts
{quote} Marcieny, it's a trap that anyone new can and will fall into. We've all done it. By and large, 99.999% of all indicators out there today are Lagging(meaning what just happened). In My Opinion, the past has nothing to do with the future. Look at all these guys following 50, 100 and 200 MA. That is the Perfect Road to Ruin. LOLOLOLOL Great way to set yourself up for disappointment.
I also find it a waste of time
- #1,300
- Edited 11:52am Jan 20, 2020 11:01am | Edited 11:52am
- Joined Oct 2017 | Status: Trader | 12,472 Posts
{quote} Cycles, are another plain example of simplicity. Cycles repeat... most people just do not try to learn it's simplicity. Sadly, a lot of people refuse to invest in their own education. Again, this thread isn't for everybody, it's for those who want to make money. P
In his book Profit Magic (1970) Hurst has a chapter 11 (page 168 - 186) where he writes about Spectral Analysis and Fourier Transform and an Appendix 1 (page 188 - 200) where he writes about the Periodogram and Fourier Serie.
In short the Periodogram is the scientific name given to a histogram chart showing you the frequencies generated by the Fourier Transform.
Problem is that in 1970 no customer of Hurst, no reader of his book could process a Fourier Transform because access to computers was inexistant for 25 $ readers.
So why Hurst has published in an appendix results of a Periodogram.
To impress the reader ? his customers ? fellow researchers ? big investors community ?
Hi guys, I am a serious scientific researcher, I need your money.
Last but not the Least in 1975 Hurst's service Cyclitec sold a course to customers . 5.000 $ . 2019 value 24.000 $.
Again Hurst explains what is a Periodogram and the Fourier Transform nobody could perform at this time too.
BUT Hurst also published something called "the 2 Fingers methodology" where you use ....... 2 of your fingers to calculate approximatively the Period of your Cycles !
for 24.000 $ present value
