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Charting: Seeing things as they really are

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Gringotts Bank

Gringotts Bank

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Contemplate this writing, then look at the chart that follows below:

"... this is how you should train yourself: Whenever you see a form, simply see; whenever you hear a sound, simply hear; whenever you taste a flavor, simply taste; whenever you feel a sensation, simply feel; whenever a thought arises, let it be simply a thought. Then 'you' will not exist". ~some dude from the ancient past.

Look at the chart but refrain from layering on top of the seeing any expectations, hopes, desires, fears, commentary, news, announcements, analysis, projection, labeling. In particular add no analysis or labels, no internal commentary or visualizations. Wait for the chart to give up it's secrets rather than forcing a solution. Just the seeing of the daily candles and no internal monologue.

Then make your bet for next week's action, and write it below. I've tried to choose a stock that hasn't been commented on in the threads lately. QAN.
 

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  • 2013-10-25 18_16_23-AmiBroker - [QAN - QANTAS AIRWAYS LIMITED - Daily].png
    2013-10-25 18_16_23-AmiBroker - [QAN - QANTAS AIRWAYS LIMITED - Daily].png
    37.6 KB · Views: 42
Hmmm, the chart doesn't seem to be available for me...
 
You shouldn't of told us its QAN due to that, the fundamentals and my hate of airlines kicks in...based purely on the chart and the fact that i mostly only work off 1, 2 and 3 year charts, ill go double bottom and call it a buy.

EDIT: Daily chart = i have no interest whatsoever.
 
So_Cynical said:
You shouldn't of told us its QAN due to that, the fundamentals and my hate of airlines kicks in...based purely on the chart and the fact that i mostly only work off 1, 2 and 3 year charts, ill go double bottom and call it a buy.
Click to expand...

I know it's hard not to see any chart without something triggering in the mind. I picked QAN because it doesn't have any particularly obvious TA things happening.
 
So_Cynical said:
You shouldn't of told us its QAN due to that, the fundamentals and my hate of airlines kicks in...based purely on the chart and the fact that i mostly only work off 1, 2 and 3 year charts, ill go double bottom and call it a buy.

EDIT: Daily chart = i have no interest whatsoever.
Click to expand...

You have no interest in a daily chart, or a chart? :confused:
 
tech/a said:
There is a short story right there.
On the chart volume or no volume.
Click to expand...

Splendid!

I love a good short story!

How does this one go?

No,no don't tell me! Let me guess!

"Once upon a time there was an enterprise that longed for profitability, but the traders shorted it happily ever after."

Is that the long and the short of it?
 
So_Cynical said:
Daily...what happens over the course of a day or a week or a month is of little to no interest to me, its not how i make my money.
Click to expand...

So asking for you to form an opinion on a chart is kinda useless then huh?
 
This is not my main method of trading (just saying, by the way). I use analysis (TA), but I have a strong suspicion that this style, if mastered, is much more profitable. I'm relatively new to this, having only practised about a year on and off.

Another way to approach this "no mind" technique is to imagine you are going to die in a month; keep looking at the chart. Maybe you'd like to make some money for your family. Now it's down to a week. Now a day. Now only minutes before you die. Now seconds. Keep looking at the chart, but relax. Now it's your last second...no time for thinking... just watch. What's it going to do? If you really pretend like it's happening, your mind becomes very clear in that last second. Use that moment.
 
Hi

I see .....

Buy at $1.35 resistance at 1.40ish and 1.55 to break into recent highs.

So

Buy 5662 shares at 1.35
Stop @ $1.17
Target $1.90
Stop Loss $1000


R/R around 3 to 1

Oh and this is speculative so risk may drop to 500 less shares same stop but larger risk/reward reward

Shaker
 
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