Hahahaha, Wayne,wayneL said:Well, errr... hurrummphhh! The dictionary itself has destroyed my hypothesis as indeed they are interchangeable
Cancell that comment! (the difference in semantics appears to be a creation of my own mind)
See! I just can't think properly during daylight LOL!
Magdoran said:Hahahaha, Wayne,
I can just see you sprinting for the crypt!
So funny!
Mag
Hello professor_frink,professor_frink said:Geez Mag,
I've read novels shorter than some of your posts
I'm not quite sure if I just accused you of waffling on, or if I've just revealed to the entire world what kind of books I read
Anyway, I have a question-
What books/educational material would you recommend for a young professor type who is interested in getting his feet wet in a bit of Gann? Which one of his books would you say is good to start with?
Magdoran said:Hahahaha, Wayne,
I can just see you sprinting for the crypt!
So funny!
Mag
Magdoran said:In defence of forecasting approaches to Technical Analysis:
But there are many who have the potential to become very proficient at technical analysis, and really develop strong capabilities to trade the market and prosper.
It is to the more serious traders and investors that I am appealing to. Those who don’t want to spend much time or effort on learning technical analysis should stick with the simpler approaches. I hope all budding technical analysts recognise the distinction being drawn here. The choice is yours!
Regards
Magdoran
bunyip said:Magdoran said:In defence of forecasting approaches to Technical Analysis:
But there are many who have the potential to become very proficient at technical analysis, and really develop strong capabilities to trade the market and prosper.
It is to the more serious traders and investors that I am appealing to. Those who don’t want to spend much time or effort on learning technical analysis should stick with the simpler approaches. I hope all budding technical analysts recognise the distinction being drawn here. The choice is yours!
Regards
Magdoran
You're almost implying that those who opt for simple trading methods are not serious traders and investors.
I assure you they are.
Proficiency in technical analysis is all well and good.......providing it equates to excellent trading results.
But the most knowledgeable market technicians are not always the most profitable traders. In fact I know some very knowledgeable TA people who've done half a dozen courses and spent years studying everything about TA they could lay their hands on. Yet they still can't trade profitably.
I know others who have limited knowledge because on my advice they latched on to just one simple method. They trade this method over and over again, just like Rex was saying his most successful clients did. They don't get sidetracked by other methods......they don't even know any other method.
They don't seek or listen to advice from anyone. They trade very profitably. In fact I'd say they're well above average in terms of profitably.
Their simple method enables them to take bites out of trends. Sometimes they get half the trend, sometimes they'll nail two thirds of it, occasionally more.
The reason I steered them towards a simple method is that I've studied and traded both simple and complex methods, and the one thing I know with absolute certainty is that no method can achieve any more than simply taking a bite out of trends. I don't care what the method is, how complex it is, what U beaut forecasting methods it uses, whether its predictive or reactive....it doesn't matter. It will not achieve any more than consistently taking a sizeable bite out of trends.
The simplest of systems can achieve this. Find a new but strong trend. Wait for the retracement. Enter when there's evidence that the retracement has finished and the trend has resumed.
Various systems accomplish this quite nicely. Four that come to mind are....
*Weinstein's system.
*Darvas system.
*Alan Hull's system.
*Elder's Triple Screen system.
Any of these four systems can be traded as a stand alone system without the trader having any knowledge of TA over and above what these systems teach.
All four of them are simple to understand, can be learnt quickly, and are easy to implement.
All four are very profitable.
Bunyip
Hello Bunyip,bunyip said:You're almost implying that those who opt for simple trading methods are not serious traders and investors.
I assure you they are.
Proficiency in technical analysis is all well and good.......providing it equates to excellent trading results.
But the most knowledgeable market technicians are not always the most profitable traders. In fact I know some very knowledgeable TA people who've done half a dozen courses and spent years studying everything about TA they could lay their hands on. Yet they still can't trade profitably.
I know others who have limited knowledge because on my advice they latched on to just one simple method. They trade this method over and over again, just like Rex was saying his most successful clients did. They don't get sidetracked by other methods......they don't even know any other method.
They don't seek or listen to advice from anyone. They trade very profitably. In fact I'd say they're well above average in terms of profitably.
Their simple method enables them to take bites out of trends. Sometimes they get half the trend, sometimes they'll nail two thirds of it, occasionally more.
The reason I steered them towards a simple method is that I've studied and traded both simple and complex methods, and the one thing I know with absolute certainty is that no method can achieve any more than simply taking a bite out of trends. I don't care what the method is, how complex it is, what U beaut forecasting methods it uses, whether its predictive or reactive....it doesn't matter. It will not achieve any more than consistently taking a sizeable bite out of trends.
The simplest of systems can achieve this. Find a new but strong trend. Wait for the retracement. Enter when there's evidence that the retracement has finished and the trend has resumed.
Various systems accomplish this quite nicely. Four that come to mind are....
*Weinstein's system.
*Darvas system.
*Alan Hull's system.
*Elder's Triple Screen system.
Any of these four systems can be traded as a stand alone system without the trader having any knowledge of TA over and above what these systems teach.
All four of them are simple to understand, can be learnt quickly, and are easy to implement.
All four are very profitable.
Bunyip
Yup, sounds great. How many people actually do this? A good chartist can, but an imposed system I would argue can obscure actually looking at the chart with nothing else. That’s where it all starts, doesn’t it? Recognising trends, and more importantly recognising counter trends, wouldn’t you agree?bunyip said:Find a new but strong trend. Wait for the retracement. Enter when there's evidence that the retracement has finished and the trend has resumed.
wayneL said:See you after sundown
There’s no point in discussing anything with you tech:tech/a said:I agree W/S.
All I see is pointless hypothesis and theory with no practical use to anyone.
Look waysolid,WaySolid said:I recently read that the reasons the arguments in academia are so fierce is that the stakes are so low. I think that nicely summed up what I see now and then on forums.
Of course trading results are important, I am very open with mine and would be even more about my methods if I was seeking kudos or started trying to educate people, I have seen plenty of systems and ideas that range from the simple to the so complex you have to laugh. And I have only been in the markets for a few short years.
Asking for a few simple stats cuts like a hot knife through butter in the end when comparing any of the two million ways to make money in the markets.
I'm more inclined to believe the main reward for trading is making money, so you can start with this and work backwards to reveal simple truths about anything related to systems trading.
Darvas's book is a top read btw, have to track it down for a 2nd read.
I’m stunned. Here I was hunkered down in my bunker with full protective clothing and supplies waiting for the Nuclear “tech/a” to go off. And what happens? Fizzle... pop... not even a “1” on the Richter scale.tech/a said:That may appear so.
But actually I would love to see some clear concise demonstration of Gann principles (Other than swing trading) by someone.
What gets a lot of people wound up is that nothing is clear.
Even a simple,ahead of time,Entry at X because of---(as Gann is predictive) and exit at Y because of-----(as Gann is predictice),seems to be beyond practitioners.
Ive even sat and watched a so called Gann expert trade.
If he had any idea what he was doing I'll eat Bugs Bunny!
You maybe very different.
You seem very forthcoming I'm happy to follow you and not give you a hard time,but I will ask questions.
I promise I wont get personal!!
Magdoran said:Hello Bunyip,
What I read from many of your current posts is a kind of love affair with Darvas (or is it Darvis???). You’d almost think you’d written it yourself and were receiving the royalties from it sometimes – just read your glowing praise for it. Interestingly, I believe you had some very different approaches in the past – does this mean that you have abandoned all other methods and only trade using the Darvas method now? If so, are you finding that it is outperforming your previous systems (even in a sideways market since the May top)?
Yours in mirth
Magdoran
bunyip said:My approach for many years has been, and still is, to find strong new trends, wait for a brief retracement, then enter the trade once the retracement ends and the trend resumes.
That is precisely what the Darvas method does......even though you seem to have yourself convinced that it's a highly risky breakout strategy.
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