Martin// Coffee was sent to me complementarily by a Jamaican friend, and I sent it to you through another Jamaican Friend... I was just hopeful at the time of politicians enjoying it enough, to permit importation and sale of it in your supermarkets.
Caribbean! Rafe... 08:01:47 GMT - 03/27/2021
AC// Wycoff still works flawlessly!. Contact me and I'll tell you.
haifa ac 06:36:50 GMT - 03/27/2021
I am a Wyckoff trader. My mentor was David Weis. I wrote two books on the subject (one on Point and Figure). Wyckoff has not worked in recent years because his basic tenet is that the role of THE MARKET is to provide a HEDGING mechanism to allow business and risk takers to shell some of that risk on the public. I do not think he took into account Zero interest rates environment for such a long time.Sticking to Wyckoff in recent years cost me a lot of money because I could not adjust my basic thinking. .
Bottom line is that in the end you never trade against the market but only against yourself and your own weaknesses. The reason it takes so many years to become a good and consistent trader is that it is a long, tedious and tiresome Chautauqua to learn to know all your weaknesses. Nothing works in the market all the time and to have the mental freedom to adjust to "new" market modus operendi requires mental agility and lack of EGO that many traders cannot achieve. .
Another important point about trading is that the world of electronic trading and the availability of data to so many people who never before had access to it--is rather young (New York Burse opened around 1880 --Jesse Liveremore era) and trying to turn technical analysis into "science" in such a short time is a very arrogant and stupid way to think you can master the vast world of finance. (think of the development of science from ancient Persians to Einstein--took thousands of years!!) You do not hear today about Denis'es turtles, or Prechter Elliott waves. Market Wizards do not exist and as Ed Seykota said--"good traders do not TALK-- they trade." . .
So, as the market matures and more historical evidence is being collected---you realize that the epigram: " I worked very hard to find the KEY to the market until I found it and then the S.O.Bs changed the lock on me"-- is a sad truism. . .
Again-- you only trade against your own weaknesses---try to discover and face them as soon as you can.
Gold Coast Martin 22:25:18 GMT - 03/26/2021
Rafe. I still remember the Blue Mountain Jamaican coffee you send me 16 years ago.
A short answer to your question is:Tailor make and stick with something that you are totally comfortable with.Something that covers all aspects of your trading style both mental and physical.
Everybody trades bar/candlestick charts, it the reason 95% struggle as they provide predictable gun fodder for the 5%.
Caribbean! Rafe... 20:18:33 GMT - 03/26/2021
Tomorrow on March 27, I'm celebrating... My work on the markets has made me to come a very long way, more like swimming across the seven seas without a break. Around 16 years ago I mastered and cracked 10 pointer shots. I cut my teeth on GBP/JPY and many other pairs, then went on to crack market timing on FX right to the exact minute of an hour!. 10 years ago I mastered AMT!. 7 Years ago, I had no choice but to remaster time, but now as the elders say practice makes perfect, however my thinking (always opimistically different) is to remaster and practice them till I can't get them wrong. I had no market reference books in those days as books on such topics did not exist or maybe still don't, and if they did then nobody had them, it was only all upto me. And I being all alone and by myself had to go it all alone, in extreme secrecy. The only thing I had access to was my trading bible and the charts and as many of them as I wanted, and that is what saved my life!. Now, I'm on my way to creating my own other proprietary charting style/techniques, which would tell me each and everything I want to know including Geopolitics, as I feel that I have far outgrown the simple bar charts!. My humble question to you all is, Should I?. A simple yes or no would suffice, however advice is something which I value and take very seriously, and as the rules dictate, I'd take no offense, if even one would not comment as it's off-time Friday. Last but not least, inspite of so much mischief, joking around and leg pulling, I never ran afoul of Jay... or maybe I ran into him sometimes, but he was always like go on it's okay brother... LOL...
So what say?. Should I?
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