Starting it off.

Al

I know some these quotes by heart. They all come from "Reminescences of the stock operator".
Excellent book. Helps to keep my mindset right.

Originally posted by Duane

Here is one from the master :

“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!”

I KNOW that's right!!

Al

Originally posted by Duane

“The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.”

Al

the brainiest people fail in the markets. In fact, people who are smart and have been successful at other things often fail the most miserably. The markets teach humility because they don't know you're alive, or care what you think, or why. You don't have to figure out the why; that is the trap of the talking heads and the economists who use news to explain price moves. Remember: geometry leads news. The setup is always in place when the 'news' hits. Ignore the news, and try to discern the geometry. And know your timeframe. All you need to be successful is to figure out when a setup is there, the likely probable move for the setup, manage your risk, and don't forget to exit when the setup has either a) played out to its target area, or b) run into a known setup against the trade.

Originally posted by albert

I KNOW that's right!!

Al

Originally posted by Duane

“The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.”

Al

red line area is the .786 - .886 retrace zone.....note that 166.48 is the bigger .786 and the .886 of the minor swing from Friday's high

rat,
Thanks for the sound advice!

Al

Originally posted by rat89

the brainiest people fail in the markets. In fact, people who are smart and have been successful at other things often fail the most miserably. The markets teach humility because they don't know you're alive, or care what you think, or why. You don't have to figure out the why; that is the trap of the talking heads and the economists who use news to explain price moves. Remember: geometry leads news. The setup is always in place when the 'news' hits. Ignore the news, and try to discern the geometry. And know your timeframe. All you need to be successful is to figure out when a setup is there, the likely probable move for the setup, manage your risk, and don't forget to exit when the setup has either a) played out to its target area, or b) run into a known setup against the trade.

Originally posted by albert

I KNOW that's right!!

Al

Originally posted by Duane

“The market does not beat them. They beat themselves, because though they have brains they cannot sit tight.”

Al

Not placing any charts for Cable for a while.
It switched to deep overlap mode again is pretty nasty to trade.

gld then and now

by the primary count, setting up for a (3) of 3 up. See why the sellers came in at 128.70? If the primary count wins out the red median line set will go

I may be premature with the blue set, but the zone to set up (3) of 3 is there at x marks the spot, either hit here today, or a little further weakness tomorrow morning:

Just a little more on RTEC. I wanted to see the overlap between CD and cd legs from the two ABCDs.




1.128*AB=CD (1.193 meas)
fibo BCD = 1.382 (1.352 meas)
1.000*ab=cd (0.973 meas)
fibl bcd = 2 ( 1.937 meas)

Al