[Book Discussion] Thomas R Demark - New Science of Technical Analysis - Chapter 1 | Forex Factory

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[Book Discussion] Thomas R Demark - New Science of Technical Analysis - Chapter 1

  • #1
  • First Post: Edited Nov 6, 2006 11:52am Nov 2, 2006 9:12am | Edited Nov 6, 2006 11:52am
Hello,

After long wait for days i found many ppl are have same interest with this book and have same problem with it, therefore we are going to discuss it here, for a remainder we only focus the discussion for chapter 1 only.

And these are Focuses of this disscusion:

  1. Selection of TD Points and Construction of TD Lines & TD Lines of a Higher Magnitude
  2. Refinements to TD Point Selection
  3. TD Price Projectors
  4. Revolutionary Breakthrough: Validation of Intraday Price Breakouts (TD Breakout Qualifiers)

I hope anyone who interested with this speak his/her mind.

Thanks,

  • #2
  • Nov 2, 2006 9:13am Nov 2, 2006 9:13am
reserved for later use if this threads permits.
  • #3
  • Nov 2, 2006 10:31am Nov 2, 2006 10:31am
There are aspects of my targeting system in this book by DeMark. I haven't read the entire book, but I have thumbed through it and read the first chapter. I know that there are some valid observations in this book. Does it outline a complete trading system? What are the performance characteristics of this trading system? I don't know the answer to these questions, just that deMark is on to something.
  • #4
  • Nov 2, 2006 10:48am Nov 2, 2006 10:48am
Yes!! good to have this thread for discussion. Anyway I haven't finish reading charpter 1

QS


Quoting Ricx
Hello,

im here want to discus the book, can i do it here?


thanks.
"Invest With The Insiders, Not The Masses" George Muzea
  • #5
  • Nov 2, 2006 11:47am Nov 2, 2006 11:47am
I should think we can discuss a historical importance of the book, not more
Prof Herman
  • #6
  • Nov 2, 2006 12:04pm Nov 2, 2006 12:04pm
Quoting Leader
I should think we can discuss a historical importance of the book, not more
how about the system behind it? im thinking thats the goal for this discussion... how about that?
(maybe we can build a system usin this book, not just a system but understanding the system it self)
  • #7
  • Nov 2, 2006 12:16pm Nov 2, 2006 12:16pm
I've just read this book. I love his work, although his descriptions are many times difficult to understand and one needs to go through it a few times at some points. He could have written it with less complicated words. But altogether a very good book!
  • #8
  • Nov 2, 2006 12:51pm Nov 2, 2006 12:51pm
I have finished the book, and must say Demark brings up noteworthy information. In my opinion to really understand his book, one has to go back and backtest his methods manually.

In my brief observations, TD Seq has some merit, while TD countdown has not been seen on the dailies at all.

It seems that the info provided in his book is not necessarily a system, but several building blocks to build your own system of your observations.

Paul
  • #9
  • Nov 2, 2006 1:55pm Nov 2, 2006 1:55pm
Quoting pasha_02

It seems that the info provided in his book is not necessarily a system, but several building blocks to build your own system of your observations.

Paul
I also think that Demark does not provide a system. He provides some guidelines to build your own system. And I also think that his writing style is a little difficult to understand. Those concepts could be explained in less words and more clearer.
The trend isyour friend untilis about to end...
  • #10
  • Nov 2, 2006 2:34pm Nov 2, 2006 2:34pm
I agree..the idea is to use the book as a base for your own system, the combo is very intresting, but I must agree the books are very hard going and I need to read them several times.

A system for thought and to be used in conjuction with other indicators.
  • #11
  • Nov 3, 2006 3:16am Nov 3, 2006 3:16am
It is a pity the money spent for this book

Much more it is a pity to me of time spent for this useless for trade book
Prof Herman
  • #12
  • Nov 3, 2006 6:37am Nov 3, 2006 6:37am
Quoting Leader
It is a pity the money spent for this book

Much more it is a pity to me of time spent for this useless for trade book
Did you read the book? Can you explain why it has been an useless book for you?
  • #13
  • Nov 5, 2006 9:54pm Nov 5, 2006 9:54pm
so... seriously guys is this worth it or its not worth anything to discuss this book?

it seems many found difficulties in understanding it. so do i, how about if we do something about it.

anyway is this worth to do?
  • #14
  • Nov 5, 2006 10:10pm Nov 5, 2006 10:10pm
I should get that book from Amazon some time this week. I will read it and summarize it for you. Or you can just go see Mouteki niche forum and take a look at the system that came out of this book. I earned enough money from Mouteki method ... which is based on Demark's idea ... so why not waste it on his book?
  • #15
  • Nov 5, 2006 10:15pm Nov 5, 2006 10:15pm
Yes i agree with you. Even i have difficulties to understand his method (english not our mother toungue). Sometimes i read more than 5 times to understand BUT his method is the best. I like all his method especially daily range projection, trendlines and Seq.
"Invest With The Insiders, Not The Masses" George Muzea
  • #16
  • Nov 5, 2006 10:38pm Nov 5, 2006 10:38pm
Quoting Qu|cksilver
Yes i agree with you. Even i have difficulties to understand his method (english not our mother toungue). Sometimes i read more than 5 times to understand BUT his method is the best. I like all his method especially daily range projection, trendlines and Seq.
So did it help you become a better trader? If so, you should sell signal service to lazy people! =o)
  • #17
  • Nov 5, 2006 10:46pm Nov 5, 2006 10:46pm
Sell signal to lazy people? Who are there? If they are lazy so don't bother with them. Lazy people who always fail and they want to fail!

We want to become a better trader, we learn we think we seek information everyday. If everyday we successfull, every month we will be successfull. If every month we successfull then every year we will be successfull.

QS.

p/s: soory poor english
"Invest With The Insiders, Not The Masses" George Muzea
  • #18
  • Nov 5, 2006 11:10pm Nov 5, 2006 11:10pm
nice thank you man, but dont let this be your trouble.
well the main reason i want to understand completly (not just only my own understanding of this book) is to get more inside mouteki system, even he never finish the system, many ppl searching for filters (this bug me) and in order to do search for filter i felt i should know the basic of mouteki system, then i realize his system is based on this demark. thats why i dont think this book waste of time. (maybe we can complete/figure out mouteki system usin this book)

i'll be waitin. Thanks again.

Quoting nitman
I should get that book from Amazon some time this week. I will read it and summarize it for you. Or you can just go see Mouteki niche forum and take a look at the system that came out of this book. I earned enough money from Mouteki method ... which is based on Demark's idea ... so why not waste it on his book?


Im ready to get into discussion for this chapter since i read it many times and i really like if ppl disscus it with me here i just hope therese ppl have the same interest like i am, and if this post generally waste of time for most ppl i dont mind to step off from this discussion and let it be just book and back to my old system.
  • #19
  • Nov 5, 2006 11:12pm Nov 5, 2006 11:12pm
the trouble with the Mouteki method is quite simple. It is based on Tom Demarks methods however the Mouteki method leaves out some very important filters. and that is why so many people find the Mouteki Method returns 50/50 .

There are many threads in the forum from people struggling with the mouteki system...

I belive the secert with the TD combo is the number sequentence and there is the diffuclties with the TD method.
  • #20
  • Nov 6, 2006 12:04am Nov 6, 2006 12:04am
Quoting glenn5t
the trouble with the Mouteki method is quite simple. It is based on Tom Demarks methods however the Mouteki method leaves out some very important filters. and that is why so many people find the Mouteki Method returns 50/50 .

There are many threads in the forum from people struggling with the mouteki system...

I belive the secert with the TD combo is the number sequentence and there is the diffuclties with the TD method.
i find it hard to trust the td seq numbers, but apparently, the pros are using it . What is the basic rules to counting the seq. number?
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