[thalestrader]

Originally Posted by daedalus »

While I'm in no ways a trade guru...

I wish I had thought to express that idea in those terms myself. That is an excellent, excellent post, daedalus - one of the best here in a while (and that's including anything I have had to say, that's for sure. This is one of those posts that ought to create a few "a ha" moments out there. If we still had the Post of the Month system here, I'd have nominated this post of yours.

Thank you for your effort. This thread will stand or fall based upon the efforts of good folks like you stepping forward and offering your thoughts and insights.

Best Wishes,

Thales

[Gabe2004]

Originally Posted by daedalus »

Take a look at the following example... just todays chart in the 6E on a 233T chart. If you were a trader long in this market where would you be trailing your stops? Its easy to spot the EASY setups when you can wait for them to appear. Wouldn't you rather be waiting to play that textbook LH opportunity? Its when you go looking for stuff, when you start shotgunning the approach at every wiggle on the chart you set yourself up for failure IMHO.

Hopefully this rambling tirade makes sense to at least one person out there. Off to shovel more snow!

Cheers!

Thanks for your post daedalus.
For the sake of clarity I changed some of your lines. Is this what you meant?

Gabe

[thalestrader]

Originally Posted by Gabe2004 »

Thanks for your post daedalus.
For the sake of clarity I changed some of your lines. Is this what you meant?

Gabe

Gabe,

Go back to daedalus's post, and read it a few more times.

Best Wishes,

Thales

[Gabe2004]

Originally Posted by thalestrader »

Gabe,

You should delete your version of daedalus's chart, and then go back to daedalus's post, and read it a few more times.

Please delete your version of daedalus's chart.

Best Wishes,

Thales

Out of courtsey I did but I thought that we learn by asking questions and not by censorship.

I think that the black lines were inconsistant.
An explanation rather than a request to remove a chart would have been more helpfull.

Gabe

[daedalus]

Gabe - I understand what you were saying with the lines. Please note that in my picture the lines with the bubbles attached to them are not to the exact level... (the trade platform wouldn't let me move the anchor point) but they would be at the orange horizontal lines I drew at each stop placement. (1 Tick below that level that is).

[thalestrader]

Originally Posted by Gabe2004 »

Thanks for your post daedalus.
For the sake of clarity I changed some of your lines. Is this what you meant?

Gabe

Gabe,

Really focus on this thought from daedalus's post - everything follows from this concept:

Originally Posted by daedalus »

Take a second to consider the underlying logic behind what we are attempting to do and what makes this method work.
[LIST][*]- When we are entering the market the trades that work the best are the trades in which we enter into others failure.

Simple yet profound in its implications. Get this, and you will be more likely to get "it" as the saying goes.

Best Wishes,

Thales

[Gabe2004]

Originally Posted by thalestrader »

Gabe,

Really focus on this thought from daedalus's post - everything follows from this concept:



Simple yet profound in its implications. Get this, and you will be more likely to get "it" as the saying goes.

Best Wishes,

Thales

I don't understand why are the black lines not pointing all to the bar that the orange lines originate from? (my chart tried to correct the inconsistancy)

I understand the idea of trailing stops of a trade at the marked places and the idea of entering a short at those points because when the stops are hit a move in the direction of the stops will have a tidal wave effect.

Gabe

[thalestrader]

Originally Posted by Gabe2004 »

Out of courtsey I did but I thought that we learn by asking questions and not by censorship.

I think that the black lines were inconsistant.
An explanation rather than a request to remove a chart would have been more helpfull.

Gabe

My concern was where you added blue lines above each high and wrote that "by the same logic each of these is a long entry." 1) That is not the case. Each new high is not necessarily a good entry point, e.g. some highs occur at prior brak down point, and I wouldn't want to initiate a new long at a prior break down point; 2) your note distracts from the logic that daedalus's version shows.

If you just want to line up thearrows along the swing lows, that is fine, but you added additional annotations that were not correct and did not accurately convey the same logic that daedalus's post did.

I did not give an explanation because I wanted to hurry up and ask you to delete your chart before it would have been too late to do so.

I think I have shown that I am not a thread dictator and I am not a censor (other than I ask for no profanity as my daughter does read this thread).

I didn't mean any offense. I just think daedalus's chart is an excellent tool for folks learning this approach, and I wouldn't want folks to be confused by your additions. Sort of like I wouldn't want someone to draw a moustache on the Mona Lisa.




Best Wishes,

Thales