I have no idea how you could consistently 'easily' identify a H&S but not be able to back test it? They are the same thing!
Anyway, Bulkowski has (as usual) done the hard work.
http://www.thepatternsite.com/hst.html
Google 'bulkowski head and shoulders' to get a better listing of bottoms/tops/complex stuff.
A head-and-shoulders pattern can easily be identified and traded. Backtesting is near impossible. That's the sort of thing I'm talking about.
So why do you spend so much time and effort on VSA as opposed to just using a simple MA to find opportunities?
The time and effort as in all analysis I consider.
Chart reading
Support resistance
VSA
Elliot.
Pattern recognition.
Has taught me to instantly "see" a setup which requires further time spent on it and or an exit setup which needs to be monitored.
The APPLICATION of what I see to execute a buy or a Sell is what your after.
What makes me pull the trigger.
Frankly I just dont have the time or inclination to walk you through the process.
It would take around an hr to mark up a chart and make notes on it.
Then Id have to answer questions and sometimes it would be 3 times in a day or 3 times in a week!!
Perhaps when I retire Ill disclose my trading accounts to those who want me to teach them and who have the $10000 + its worth to educate someone.
So why do you spend so much time and effort on VSA as opposed to just using a simple MA to find opportunities?
It certainly does not. Its called expertise.You're saying you analyze a chart using 5 different and quite complex methods, however you instantly see the trade set up and pull the trigger? That statement contradicts itself.
LOL, I'm not an idiot!!
when all you need is a simple MA?
You're saying you analyze a chart using 5 different and quite complex methods, however you instantly see the trade set up and pull the trigger? That statement contradicts itself.
And then you can do it in an instant, but it takes $10000 and many years to teach someone else???
Thirdly, why use 5 relatively complex methods when all you need is a simple MA?
Pffff!!! Try again my friend.
No.
Anyone with a reasonably decent intellect can become a surgeon or engineer, and make good money guaranteed. The same is not true for trading. In fact the opposite is true.
Race driving is physical skill + memory.
I read your threads on vsa and I see pavillion and a few others flapping around trying to follow what you're on about. While I believe you make money, I don't for one minute believe that you could teach it successfully, even if given years and thousands of dollars.
Oh dear. Whats the diff between a trained surgeon or engineer and a wannabe trader?No.
Anyone with a reasonably decent intellect can become a surgeon or engineer, and make good money guaranteed. The same is not true for trading. In fact the opposite is true.
Race driving is physical skill + memory.
I read your threads on vsa and I see pavillion and a few others flapping around trying to follow what you're on about. While I believe you make money, I don't for one minute believe that you could teach it successfully, even if given years and thousands of dollars.
Answer the question please!
If you were TH-University Incorporated, what units of study do you teach in years 1 to 6? Let's make it comparable to our surgeon or engineer. What methods do you teach and more importantly...why? If you teach method x over method y, you must think or have some proof that x is more valuable/profitable or at least easier to use.
If it's just a matter of "watch the depth for 6 years", then that's not the same as learning a huge number of facts as you would with a bachelor degree.
Answer the question please!
so tech, how can you make a decision when:
Fib retracement says BUY
S/R says HOLD
Trendline says SELL
... along with ten other contradicting signals? I have studied a lot of different methods myself and find they they will often strongly contradict each other.
So my decision was to pick one, which I believe is marginally better than the others. Otherwise you will be obeying S/R on one trade, then denying it on the next. How could you develop a confidence with that way of working?
Maybe you could try looking at the answers as well? Like your last few threads on scalping, taking 2 tick profit, where it was pointed out the ten thousand problems with your approach yet you ignored them all.
Now we have another thread, because I assume your scalping methods have gone t1ts up, where it seems all you want in it is an easy one, two, three steps to success in 5 days.
At my Tremblers University the curriculum would be very similar to a medical degree structure actually.
Basic fundamentals of the market,
How each parts interact with each other,
Broad observations and play with as ALL approaches,
Picking of specialisation
Setting out paths to learn that specialisation.
etc etc
This is the basic prop shop model. Hell its all been said before. Here is a post from a Doctor explain how he trains traders,
http://traderfeed.blogspot.com.au/2008/09/introduction-to-trading-learning-how-to.html
Geeeeeee
Never heard of confluence before?
http://www.trading-naked.com/Confluence.htm
IF S/R says hold, fib says buy and trendline says sell and you put equal weight in all signals then
S/R: +1
Fib: 0
Trendline: -1
Total = 0. Decision? Hold.
What about if (like in the above picture)
S/R: +1
Fib: +1
(Untested) Trendline: +1 (* 0.5 since untested) = +0.5
Total = +2.5. Decision? Buy.
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