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  • #941
  • Feb 25, 2016 3:47am Feb 25, 2016 3:47am
Quoting medici
{quote} How can you make such claims? Is it your way or no way? What you don't understand is wrong or random? {quote} I beg to differ.
Then explain yourself - Why would anyone trust that line of yours? Based on what? The fact that it was respected twice in 7 weeks when every other time it wasn't? You also seem to dismiss the H4 200sma as having anything to do with it. Why? when I have conceded that it may well have been a combination of the two.
  • #942
  • Feb 25, 2016 4:10am Feb 25, 2016 4:10am
Quoting cat
{quote} Then explain yourself - Why would anyone trust that line of yours? Based on what?
That would mean a rather lengthy essay. Thousands of words. This is not the place, and I did provide a link for the curious and open-minded.

Quote
You also seem to dismiss the H4 200sma as having anything to do with it. Why?

I'm not denying that suitably chosen MAs can have predictive value. Of course they can.

Causality is a different matter. Then I'd rather go with my understanding of how the algos work. That's why I entered as the screen cap from my log states below ( I practice what I preach) and that's how I can explain the DAX bounce from 9211 at 8.25 and from 9213 (to which the level has moved) at 10.05. The latter might be broken though. We'll see.

This is the stuff I'm not sharing.
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  • #943
  • Feb 25, 2016 4:44am Feb 25, 2016 4:44am
Quoting medici
{quote} That would mean a rather lengthy essay. Thousands of words. This is not the place, and I did provide a link for the curious and open-minded. {quote} I'm not denying that suitably chosen MAs can have predictive value. Of course they can. Causality is a different matter. Then I'd rather go with my understanding of how the algos work. That's why I entered as the screen cap from my log states below ( I practice what I preach) and that's how I can explain the DAX bounce from 9211 at 8.25 and from 9213 (to which the level has moved) at 10.05....
Not sure why you feel the need to post your trade here, no one is questioning your ability, certainly not me, if that is the impression I gave. I think I'll leave it like this. This thread if for people to hopefully view a wide range of views and opinions from different traders, some more experienced than others, though that is irrelevant. People should then, if they wish, go away and see for themselves what works for them, what doesn't, what thet like and what they don't. Your line of S&R has no less relevance or importance than the H4 200sma in the wider arena, people,. if they are interested can look at it, look at the moving averages, and draw their own conclusion. If anyone reading this was unaware of either of these before this conversation of ours, then it is a positive thing, but as for proving your worth, then obviously as a discussion forum, this is not the forum for that. I have thought about starting a forum where I place live trades, to then analyze them when time permits, though for the moment, I have decided to continue with this thread with its educational thrust.

Again medici, thank you for your input, which I always view as nothing other than a complement to this thread, even though at times I seek clarification concerning what you say and post.
  • #944
  • Edited 5:17am Feb 25, 2016 5:00am | Edited 5:17am
Quoting cat
{quote} Not sure why you feel the need to post your trade here, no one is questioning your ability, certainly not me, if that is the impression I gave. I think I'll leave it like this. This thread if for people to hopefully view a wide range of views and opinions from different traders, some more experienced than others, though that is irrelevant. People should then, if they wish, go away and see for themselves what works for them, what doesn't, what thet like and what they don't. Your line of S&R has no less relevance or importance than the H4...
Thank you. Not in the slightest out to prove my worth. I've been away from forums for years because of the ego battles that inevitably occur.

It may be my misunderstanding, but this morning I found my suggested level rather harshly dismissed. As I believe I know what I'm talking about, I thought that deserved a reply, if for no other reason than the sake of veracity and completeness for the readers of this thread.

And I don't like the self-consciousness that may creep in when posting my trades. The reason for posting the trade was to validate that I found my reasoning behind the level strong enough to bet my money on.

And the entry was not on first hit, at which time I was trading DAX and entered around the corresponding 9130 level for a short-term trade exited in 15 minutes or so. The DJI entry was on last hit of the level.

Both trades backed up by my standard range trading methods. So I would have taken them regardless - the long-term chart posted earlier simply indicates potential. And this is an important point for learners: Don't hit "big" levels on first hit without other supporting methods - unless you have a wide stop, in the DJI case something like 50 point stop for 150-200 point target.
  • #945
  • Feb 25, 2016 5:16am Feb 25, 2016 5:16am
Quoting medici
{quote} Thank you. Not in the slightest out to prove my worth. I've been away from forums for years because of the ego battles that inevitably occur. It may be my misunderstanding, but this morning I found my suggested level rather harshly dismissed. As I believe I know what I'm talking about, I thought that deserved a reply, if for no other reason than the sake of veracity and completeness for the readers of this thread.
My original question to you regarding your post was only to get a response from you as to why you considered the line of S&R as reliable, though I think looking back at it, it could have been more politely put, and it obviously caused offense as your reply was equally dismissive. Never mind, we are both grown men and discussion, even abrasive discussion at times, is the spice of life. I have never doubted for a second that you know what you are talking about, which is a lot more than can be said for many people on some of the more popular interactive threads.

Let's leave it there. I think that despite the small misunderstanding, it has been a valuable discussion.
  • #946
  • Feb 25, 2016 5:32am Feb 25, 2016 5:32am
Quoting cat
{quote} My original question to you regarding your post was only to get a response from you as to why you considered the line of S&R as reliable, though I think looking back at it, it could have been more politely put, and it obviously caused offense as your reply was equally dismissive. Never mind, we are both grown men and discussion, even abrasive discussion at times, is the spice of life. I have never doubted for a second that you know what you are talking about, which is a lot more than can be said for many people on some of the more popular...
Thank you, and as a means of reconciliation, here's the 16175 level explained in a chart. Note that when I say support/resistance it is in terms of daily closes, not the level being obeyed to the tick.

I hope this makes it glaringly obvious
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  • #947
  • Feb 25, 2016 5:41am Feb 25, 2016 5:41am
Quoting medici
{quote} Thank you, and as a means of reconciliation, here's the 16175 level explained in a chart. Note that when I say support/resistance it is in terms of daily closes, not the level being obeyed to the tick. I hope this makes it glaringly obvious {image}
It does, thanks
  • #948
  • Feb 25, 2016 5:46am Feb 25, 2016 5:46am
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Another great podcast from Peter Schiff yesterday.
  • #949
  • Feb 26, 2016 2:20pm Feb 26, 2016 2:20pm
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  • #950
  • Edited Feb 27, 2016 4:34am Feb 26, 2016 2:50pm | Edited Feb 27, 2016 4:34am
http://www.forexcrunch.com/five-thin...ul-traders-do/

I thought this was really excellent.
  • #951
  • Feb 27, 2016 10:56pm Feb 27, 2016 10:56pm
Quoting pulke
{quote} amazing. How did you find out about him?
youtube, where I usually go for my pre work day play fix.
...
  • #952
  • Feb 28, 2016 8:30am Feb 28, 2016 8:30am
Struggling? demoralized? overwhelmed by the challenges of trading? Sometimes you have to take yourself away from it all to open up a fresh perspective on your life and what you are trying/hoping to achieve.

Sometimes books can do this, and this one in particular made a huge impression on me when I read it a few years ago. Most people have seen the film, but few by comparison have read the book. It is an incredible tale of human survival over adversity that I believe anyone can benefit greatly from reading.
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  • #953
  • Feb 28, 2016 5:54pm Feb 28, 2016 5:54pm
Quoting cat
Struggling? demoralized? overwhelmed by the challenges of trading? Sometimes you have to take yourself away from it all to open up a fresh perspective on your life and what you are trying/hoping to achieve. Sometimes books can do this, and this one in particular made a huge impression on me when I read it a few years ago. Most people have seen the film, but few by comparison have read the book. It is an incredible tale of human survival over adversity that I believe anyone can benefit greatly from reading. {image}
Looks like a serious read. This is probably what the movie "the pianist" used for the script.
  • #954
  • Feb 29, 2016 1:10am Feb 29, 2016 1:10am
Quoting pulke
{quote} Looks like a serious read. This is probably what the movie "the pianist" used for the script.
Not really, the film is brilliant, but the book is an autobiographical account and so a first hand account, whereas the film, although staying very close to the book, is still a film.
  • #955
  • Mar 2, 2016 3:33am Mar 2, 2016 3:33am
Last post from me on this thread as I think I and others have taken it as far as it'll go. Before I leave though, just a quick reminder which has already been touched upon a few pages back, and it is this -

Trading is a fantastic skill to learn and if done so it will be a highly valuable asset to have as long as there are markets to be traded. The learning process is long and arduous however, certainly nowhere near the quick fix for life so many people seem to think it is. Most of the professional retail traders I know came into trading after they had done many other things in their lives. I would attempt to turn anyone away from trading because I wouldn't have welcomed that when I started out, but I would advise people in their twenties not to let it become a life's obsession - there is far too much going on out there in the real world to be couped up in front of a computer monitor all day. Trading can most certainly provide a life, but never let it prevent you from doing the things you really want to do. Life is short and you are young only once. The markets will wait for you, but time never will.

Wherever your journey takes you, I hope it will be filled with joy and fulfillment. Goodbye.
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  • #956
  • Mar 2, 2016 7:09am Mar 2, 2016 7:09am
Quoting cat
Last post from me on this thread as I think I and others have taken it as far as it'll go. Before I leave though, just a quick reminder which has already been touched upon a few pages back, and it is this - Trading is a fantastic skill to learn and if done so it will be a highly valuable asset to have as long as there are markets to be traded. The learning process is long and arduous however, certainly nowhere near the quick fix for life so many people seem to think it is. Most of the professional retail traders I know came into trading after they...
Cat - Big thank you for sharing your thoughts on trading.
every Saint has a past. Every Sinner has a Future
  • #957
  • Mar 2, 2016 11:27am Mar 2, 2016 11:27am
Quoting turnip15
{quote} Cat - Big thank you for sharing your thoughts on trading.
Thank you Cat. I have appreciated your thoughts which have been an oasis for me. Best wishes from down under.
  • #958
  • Mar 3, 2016 7:20pm Mar 3, 2016 7:20pm
Quoting cat
Last post from me on this thread as I think I and others have taken it as far as it'll go. Before I leave though, just a quick reminder which has already been touched upon a few pages back, and it is this - Trading is a fantastic skill to learn and if done so it will be a highly valuable asset to have as long as there are markets to be traded. The learning process is long and arduous however, certainly nowhere near the quick fix for life so many people seem to think it is. Most of the professional retail traders I know came into trading after they...
Thank you for all you have shared.
...
  • #959
  • Mar 7, 2016 1:03am Mar 7, 2016 1:03am
Quoting cat
Wherever your journey takes you,...
  • #960
  • Sep 19, 2016 6:54am Sep 19, 2016 6:54am
This has only recently been uploaded onto youtube, so definitely worth posting it here.

Most of you will know the famous book ' Trading in the Zone '. well here is the late Mark Douglas in this series which was until recently only available on dvd.

This is a guy worth listening to provided you already have a trading system with an edge.

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