So you're not going to respond to the question I posed to you?Yes, it doesn't give you a PRICE TARGET.
Worthless.
Fib
Posted 12 June 2014 - 09:04 PM
So you're not going to respond to the question I posed to you?Yes, it doesn't give you a PRICE TARGET.
Worthless.
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
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Posted 12 June 2014 - 09:34 PM
Think about this Tom...how would you explain how I was able to give price projections so precisely in the SOX, that were far above current levels at those times, while others didn't have any confirmations that those numbers could even be reached because their pivot points still hadn't been met to make such comparisons?Everything you need to know is locked up in price volume and time....
You never gonna get that out of an A/D analysis, that's all price behavior.
We all understand what we can comprehend...it doesn't mean it doesn't work if one doesn't see the parallel line that goes along with it.
Fib
Posted 12 June 2014 - 09:45 PM
No...I simply used the Semiconductor Bullish Percent Index chart...nothing else.I gave price projections too, Identified precisely the resistance level the SOX respected for weeks...
I do it every day.
You didn't get those price projections off your indicators, you used ordinary Fibonacci price projections.
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
Technical Watch Subscriptions
Posted 12 June 2014 - 10:17 PM
It looks like NOBOBY is short EGO!
Posted 12 June 2014 - 10:34 PM
It looks like NOBOBY is short EGO!
You are the best !
Allow me the freedom to disagree on a couple of things. Market forecasting and trading are two entirely different aspects. One can be a successful trader by just following the price without having a specific forecast or what the technical target is. In fact, in my limited 15 years of trading, i have found using targets to be counterproductive, more than useful. Technical targets are an excellent way of cutting one's position early or late (waiting for the target to get hit).
FOLLOW THE PRICE. RESPECT THE TURN !
Posted 12 June 2014 - 10:42 PM
Posted 12 June 2014 - 10:59 PM
It looks like NOBOBY is short EGO!
You are the best !
Allow me the freedom to disagree on a couple of things. Market forecasting and trading are two entirely different aspects. One can be a successful trader by just following the price without having a specific forecast or what the technical target is. In fact, in my limited 15 years of trading, i have found using targets to be counterproductive, more than useful. Technical targets are an excellent way of cutting one's position early or late (waiting for the target to get hit).
FOLLOW THE PRICE. RESPECT THE TURN !
Nav, I have become convinced over the years that you are good at this. The follow the price approach works when everything else fails.
Edited by NAV, 12 June 2014 - 11:04 PM.
Posted 12 June 2014 - 11:07 PM
Posted 13 June 2014 - 05:47 AM
Indicators fail. Models fail. Waves are unpredictable. Cycles fail. I have seen certain indicators/models fail for years. I have seen good traders sticking to failed models for years and not giving up on it. But the message of the price is always the same - irrespective of underlying cause or environment. It either goes up or down. The only thing that changes is the volatility. Keeps the model simple with one degree of freedom - PRICE ! All one needs to adjust is varying the position size with volatility.
But most don't have a clue about price following. It's often confused with buy and hold. There are many great TA approaches to price following worth researching - Pure price breakouts, Moving averages, Donchian channels, Keltner channels, Supertrend, Volatility breakouts based on ATR, Ichimoku cloud etc. All these methods recognize a turn when the price turns. No ifs and buts - gives traders a specific entry, stop and exits, which is what real money trading is all about. The rest is all noise.
But message board folks are always obsessed with making calls, gravitating towards methods which are price forecasting based (e-wave and cycles being most popular).
Like Semi said, to each his own. If it works for you and you are really making money, stick with it. I am just saying what works for me after researching/trading various TA methods. I have un-learnt about 90% of the TA, i have wasted my time on over the years.
Edited by mss, 13 June 2014 - 05:49 AM.