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First, I would put Mark's white hammer pattern (Found on elitetrader) up against any of yours or Steve Nison's. The text book/internet patterns are not reliable. |
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OK, go ahead and prove your theory here with actual facts. I'd like to see your statistical research which shows that Mark's pattern is superior to those found from Nison's work or my candle area on this forum.
You said it, now show me PROOF.
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Second, unreliable does not mean on trade can't make 8 pts. It means for every 8pt trade there are 10 2pt losses. Not very reliable in my book. |
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Again, I will await to see your evidence of this random info you've posted. You've provided a random statistic here that is based on what exactly? I'd love to see how you can prove that for every 8 pt trade I take that I then take 10 two point losses.
You see son, it's hard to stay in business (yes, I run a business not a hobby) if you win for +8 and then lose -10 day in and day out. Kinda hard to turn a buck that way...
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You still have not shown any understanding of the Price Action. Why? |
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Not sure what you mean - I run the
candlestick section right here on TL that has more info in it than most here will ever grasp. Instead of throwing rocks, please enlighten us there CW. I have yet to see a thread or area on the forum that YOU have made that details how to explain PA. Maybe I missed it, so feel free to show me those threads. In case you can't find mine, they are
right here.
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As far as "text book" VSA, we are not all on the same level. Surely a newer trader will miss an idealized set up. Even a seasoned trader misses things every now and then. If you want to go this route, you can't say with certainty that was a hammer or a doji or a spinning top. And I bet if you put a poll on the candle thread you would get many different responses. By you definition, very little is text book where candles are concerned........... |
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You missed my point completely. Whatever you want to call that candle is IRRELEVANT. The name of that thing MEANS ABSOLUTELY NOTHING.
But I can tell that I am talking to a very inexperienced trader. For you to focus on what exactly that doji is called just shows how new to this you are. The name of that bullish candle, aka price action, MEANS NOTHING.
Until you understand that, it's hard for us to have a discussion.
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side note - is it me or is this forum just full of newbies all of a sudden? Did James take out some ads on Google or something?
