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rat89
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Posts: 7,015
it's cool, because we can follow in the machines' footsteps
Originally posted by jimkane
To me that's what happens when you have no human traders left (essentially), no market depth, nothing but machines.
Originally posted by rat89
comes up to the area 4 times, breaks through and then sits there.....too funny
JI
jimkane
Rep: 3,058
Posts: 33,089
That's what I find so funny. No claims or anything, but to me the machines are, essentially stupid. They are easy to figure out. roofer was the first I saw to really explain this concept to the masses. I think the masses still don't get it, which I suppose is essential.
Originally posted by rat89
it's cool, because we can follow in the machines' footsteps
Originally posted by jimkane
To me that's what happens when you have no human traders left (essentially), no market depth, nothing but machines.
Originally posted by rat89
comes up to the area 4 times, breaks through and then sits there.....too funny
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rat89
Rep: 0
Posts: 7,015
exactly....they are always a couple of days or weeks behind....the market exists to shake as much loose change out of as many pockets as possible....
Originally posted by jimkane
That's what I find so funny. No claims or anything, but to me the machines are, essentially stupid. They are easy to figure out. roofer was the first I saw to really explain this concept to the masses. I think the masses still don't get it, which I suppose is essential.
Originally posted by rat89
it's cool, because we can follow in the machines' footsteps
Originally posted by jimkane
To me that's what happens when you have no human traders left (essentially), no market depth, nothing but machines.
Originally posted by rat89
comes up to the area 4 times, breaks through and then sits there.....too funny
RA
rat89
Rep: 0
Posts: 7,015
thanks jim.....we may discover that yesterday was a major inflection point in aapl and gld....even though there are the obvious levels down there....at least we're having fun
Originally posted by jimkane
Nice charts and commentary today, rat. Great stuff.
JI
jimkane
Rep: 3,058
Posts: 33,089
It is a nice ABCD all right, but the issue I have is that if you look at a daily chart for say the last three years or so, it's not uptrending, it's basically flat. It's in a range. So, playing this ABCD is a lot tougher because it doesn't necessarily have a strong trend behind it. There is also a price flow line coming in right at the high, which is potential resistance. So, the 'context' is not great for this one.
Originally posted by Barkley
What do you guys think about light sweet crude? /QM I am not too successful with these longer term ABCD's...
Click image for original size
JI
jimkane
Rep: 3,058
Posts: 33,089
Okay, I'll wrap the week up with one of my silly little thingys that I do. Some may take it as arrogant, but if one knows me nothing could be further from the truth. I'm about the least arrogant person in existence. Being humble is an important lifestyle choice for me, a philosophic decision I've made. Some don't understand this and misunderstand where I stand.
For example, to me, one can be humble but also recognize abilities or skills one possesses. This is not arrogance. Arrogance is when you say because of those skills I'm a better person than you, I'm more important than you, I'm above you. Saying I am a better golfer than you doesn't make me arrogant. Saying I'm above you because I am better at golf does.
So, that being said, I was musing today about how great this forum is, the stuff being posted is just fantastic. I think this is the best forum out there, barring none. That's just an opinion. Some of it is because of the material I have made available, but a good chunk of it is the hard work and other material from the people in here.
I was also thinking how, despite how good I think the books are, I estimate that they only cover perhaps 10% of what I know, of what I have discovered. Only a small fraction of what I know is shown in this forum. A lot of that is because of how much I've advanced the craft since the last book was written almost eight years ago, especially in the last say two or three years. I've 'went parabolic' ('exponential' would be more mathematically correct) in my own learning.
I have one student, and he's just a madman with this stuff. We've taken it to a level I never thought I'd get to with any student. He's a hedge fund manager (and has been for quite a few years), so he has a lot of trading background, and can devote full time and more to it. The stuff I am showing him, the things we are working on, it's just insane. I am breaking new ground almost daily, and we are looking at things I am sure no one has ever looked at, or even thought of.
I don't say this in a way that should make anyone feel bad, but I had gotten to the point where I was pretty sure I'd die and never have been able to show some of this stuff to anyone because it was basically incomprehensible to anyone. I'm not saying that you, the reader, just can't handle it, that you aren't smart enough, what I'm saying is you'd have to work with me full-time for years and years and years to get through all the steps to be able to do it.
It's like say a physicist, and he develops all this new stuff. You are good at physics. So, you say to him, just tell me all you know, all of what you've learned in say 42,000 hours of work. Can he just tell you in a few hours the sum of his life's work? Of course not. He'd say let's hit the blackboard and after a few tens of thousands of hours maybe you'll understand what I've done.
What I've come to realize about market action, the things I've learned, they are just so much more now than 'what do I need to do to find trade setups'. They lean towards understanding the order in the market, and to me, every day that goes by I see more order. The level of order boggles my mind. I have reached a point where I simply can't comprehend what I have been discovering. One of my latest discoveries is so bizarre, so ordered, that I have nicknamed it (no blaspheme intended) 'The Mind of God'.
So, as I was pondering all this, seeing things unfold today in line with my theories (for lack of a better term), I started singing a song from Carly Simon. Maybe it was previously on the radio I had on low in the background and I didn't realize it, but picked up on it subconsciously, and I couldn't stop singing it. I looked at the work being posted in the forum, looked at my charts, and was mentally preparing to work after the close with the above student. And the song just kept playing in my head.
Now, remember what I said about arrogance. If I choose to be amazed at what I have discovered, I'm just marveling at the order, the beauty, of the universe, in this case how it is expressed in the market (the famous mathematician Ramanujan once said "...an equation has no meaning for me unless it expresses a thought of God."). Anyway, I'm thinking about all those people out there, selling seminars, making posts, talking about how their setups hit 90% of the time, and on and on. And I see what it is I know, what is in this forum, and the song kept playing...
Keep in mind, this is from someone who, until I hooked up with this last student, has been going nuts having all this inside with no one to talk to...
"Nobody does it better
Makes me feel sad for the rest
Nobody does it half as good as you
Baby, you're the best...
...And nobody does it better
Though sometimes I wish someone could
Nobody does it quite the way you do
Why'd you have to be so good?...
...There's some kind of magic inside you
That keeps me from running
But just keep it coming
How'd you learn to do the things you do?
And nobody does it better
Makes me feel sad for the rest
Nobody does it half as good as you
Baby, baby... you're the best"
Now we see if everyone can take this as I meant it, or if they think I'm trying to be a braggart.
For example, to me, one can be humble but also recognize abilities or skills one possesses. This is not arrogance. Arrogance is when you say because of those skills I'm a better person than you, I'm more important than you, I'm above you. Saying I am a better golfer than you doesn't make me arrogant. Saying I'm above you because I am better at golf does.
So, that being said, I was musing today about how great this forum is, the stuff being posted is just fantastic. I think this is the best forum out there, barring none. That's just an opinion. Some of it is because of the material I have made available, but a good chunk of it is the hard work and other material from the people in here.
I was also thinking how, despite how good I think the books are, I estimate that they only cover perhaps 10% of what I know, of what I have discovered. Only a small fraction of what I know is shown in this forum. A lot of that is because of how much I've advanced the craft since the last book was written almost eight years ago, especially in the last say two or three years. I've 'went parabolic' ('exponential' would be more mathematically correct) in my own learning.
I have one student, and he's just a madman with this stuff. We've taken it to a level I never thought I'd get to with any student. He's a hedge fund manager (and has been for quite a few years), so he has a lot of trading background, and can devote full time and more to it. The stuff I am showing him, the things we are working on, it's just insane. I am breaking new ground almost daily, and we are looking at things I am sure no one has ever looked at, or even thought of.
I don't say this in a way that should make anyone feel bad, but I had gotten to the point where I was pretty sure I'd die and never have been able to show some of this stuff to anyone because it was basically incomprehensible to anyone. I'm not saying that you, the reader, just can't handle it, that you aren't smart enough, what I'm saying is you'd have to work with me full-time for years and years and years to get through all the steps to be able to do it.
It's like say a physicist, and he develops all this new stuff. You are good at physics. So, you say to him, just tell me all you know, all of what you've learned in say 42,000 hours of work. Can he just tell you in a few hours the sum of his life's work? Of course not. He'd say let's hit the blackboard and after a few tens of thousands of hours maybe you'll understand what I've done.
What I've come to realize about market action, the things I've learned, they are just so much more now than 'what do I need to do to find trade setups'. They lean towards understanding the order in the market, and to me, every day that goes by I see more order. The level of order boggles my mind. I have reached a point where I simply can't comprehend what I have been discovering. One of my latest discoveries is so bizarre, so ordered, that I have nicknamed it (no blaspheme intended) 'The Mind of God'.
So, as I was pondering all this, seeing things unfold today in line with my theories (for lack of a better term), I started singing a song from Carly Simon. Maybe it was previously on the radio I had on low in the background and I didn't realize it, but picked up on it subconsciously, and I couldn't stop singing it. I looked at the work being posted in the forum, looked at my charts, and was mentally preparing to work after the close with the above student. And the song just kept playing in my head.
Now, remember what I said about arrogance. If I choose to be amazed at what I have discovered, I'm just marveling at the order, the beauty, of the universe, in this case how it is expressed in the market (the famous mathematician Ramanujan once said "...an equation has no meaning for me unless it expresses a thought of God."). Anyway, I'm thinking about all those people out there, selling seminars, making posts, talking about how their setups hit 90% of the time, and on and on. And I see what it is I know, what is in this forum, and the song kept playing...
Keep in mind, this is from someone who, until I hooked up with this last student, has been going nuts having all this inside with no one to talk to...
"Nobody does it better
Makes me feel sad for the rest
Nobody does it half as good as you
Baby, you're the best...
...And nobody does it better
Though sometimes I wish someone could
Nobody does it quite the way you do
Why'd you have to be so good?...
...There's some kind of magic inside you
That keeps me from running
But just keep it coming
How'd you learn to do the things you do?
And nobody does it better
Makes me feel sad for the rest
Nobody does it half as good as you
Baby, baby... you're the best"
Now we see if everyone can take this as I meant it, or if they think I'm trying to be a braggart.