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Bronco Capital's ABCD Harmonic Pattern Journal 94 replies

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The Bucking Bronco

  • #5,361
  • May 3, 2020 2:12am May 3, 2020 2:12am
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  • #5,362
  • May 3, 2020 2:21am May 3, 2020 2:21am
fti is a genius... his idea of "Dancing the Price Dance" is amazing.
In the end it's the perfect representation of Trading Dynamics.
But one must be free minded to get the true meaning of all that.
Need knowledge and experience to see all the implications and consequences of such an approach.

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  • #5,363
  • May 3, 2020 2:49am May 3, 2020 2:49am
What kind of trading could be something based on "Wishing, hoping, and praying"?
Are you able to swallow a 3 to 5 figures move against your positions?
It becomes easy for people that trade with large, huge stops.
But, by my side, I trade with super tight stops: even 2 points.
We live in different universes.

"Wishing, hoping, and praying" break discipline's cardinal rule, bringing personal desires and convictions into market judgements
and clouding a trader's view of the market's objective movements.
These desires then mediate between the trader's actions and his reactions to the constantly changing information before him
(falsing the OODA loop and process)!
  • #5,364
  • May 3, 2020 6:01am May 3, 2020 6:01am
Quoting Jupiter
{quote} {quote}At least, please, let's use the right words. Trading is a serious profession. I'm against averaging down.
not sure if you're talking to me, but i see myself quoted, so i feel addressed. i am aware of the difference between what they call buying the dip and catching knives. (i am confident that i'm very precise with concepts - as said, it has been my profession for quite some years now. concepts i mean, not trading). also, i didn't mean to suggest one or the other, and i myself am not practicing buying dips or catching knifes, or averaging down (which can also be described as following the market with your position; which of course grows by that). just saying that there are some very successful traders here who follow this kind of approach. it's definitely not something for the risk averse...
  • #5,365
  • Edited 6:58am May 3, 2020 6:28am | Edited 6:58am
Quoting Jupiter
I am - on these pages of mine - theorising and practising a completely different "System of Thought"!
The only important thing is that it must be clear what I theorize and consequently do.
And that all the great traders of the past are against these practices and activities. Especially W.D. Gann.
As for Livermore, things are different: but he could move the market... he was more than a trader and he went through various phases.

Everyone is free to do whatever they want with their money.
But if one wants to start well, better start off on the right foot: learning how to read and follow the direction of a trend and not going backwards!
I said again. Wanna be extremely clear.
Those things are not models, here... but dangers that must be avoided.
I don't care a fig about the bottom line.
Beginners must learn how to separate impulse from correction on the chosen timeframe and how to recognise that a trend has changed!
Period.
  • #5,366
  • Edited 9:48pm May 3, 2020 9:32pm | Edited 9:48pm
Why did I wake up earlier?
To check my Overnight Trade.

Banking! DAX Ger30 m5.
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  • #5,367
  • May 3, 2020 9:36pm May 3, 2020 9:36pm
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  • #5,368
  • Edited 9:57pm May 3, 2020 9:43pm | Edited 9:57pm
Question of mindset.

Quoting Jupiter
I cannot stop to ask myself why the mass of Retailers Traders are so... at least, “naive”.
However and anyway... that's the point. What does actually happen in our mind when we are in front of our charts?
What are the requirements to properly face the Market?
Where is the hurdle and the mistake?
Of course I'm addressing a particular and defined audience:
serious people, averagely informed traders of medium level... with already a good, earnest and honest level of knowledge.
  • #5,369
  • May 3, 2020 10:03pm May 3, 2020 10:03pm
“Buy rising stocks and sell falling stocks.“ - J. Livermore – How to...
“Never average losses by buying more when your stock has fallen. "- J. Livermore – How to...
“The thing to determine is the speculative line of least resistance at the moment of trading.” - J. Livermore – Reminiscences...
“13. Never average a loss. This is one of the worst mistakes a trader can make. “ - W.D. Gann – How to... and Stock Trend Detector
  • #5,370
  • May 3, 2020 10:03pm May 3, 2020 10:03pm
Trend is your only friend.
  • #5,371
  • Edited 10:43pm May 3, 2020 10:12pm | Edited 10:43pm
But all is useless and meaningless when it comes to trading.
Learning how to trade correctly is a personal journey in an ocean of deceptive information.
In this field the Law of Darwin's Natural Selection dominates.
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  • #5,372
  • Edited 2:46am May 4, 2020 2:24am | Edited 2:46am
The prosecution of the move could be complicated.
Americans indeces have already closed their Gaps.
  • #5,373
  • May 4, 2020 3:01am May 4, 2020 3:01am
Covid-19... today in Italy is re-open day! First, partial open after the lockdown. Good luck and responsibility to all!
Hoping in people's good and conscientious behaviour.
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  • #5,374
  • May 4, 2020 3:29am May 4, 2020 3:29am
Quoting Jupiter
Covid-19... today in Italy is re-open day! First, partial open after the lockdown. Good luck and responsibility to all! Hoping in people's good and conscientious behaviour. https://www.youtube.com/watch?v=dCO0DXAc0tk
That's great! What are you going to do with your newfound freedom?
  • #5,375
  • May 4, 2020 3:33am May 4, 2020 3:33am
A walk outside, down to the river, this afternoon!
  • #5,376
  • May 4, 2020 3:37am May 4, 2020 3:37am
Scalping in direction of the main trend! Banking @500
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  • #5,377
  • May 4, 2020 4:08am May 4, 2020 4:08am
490. OODA. Always in control.
  • #5,378
  • May 4, 2020 4:30am May 4, 2020 4:30am
And they buy... buy and buy orders.
And I sell, sell, sell as a mad. And in the meanwhile scalp, scalp... and attack!
Banking here.
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  • #5,379
  • May 4, 2020 4:34am May 4, 2020 4:34am
I am staying on the sidelines today...I tried a short at 476, but then chickened out. Mindset still shaky... At least I'm on the right side now...
  • #5,380
  • May 4, 2020 4:36am May 4, 2020 4:36am
I think I have to stop doing these demonstrations in public.
I did what I wanted to do.
All is here black on white.
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