Discussion in 'Technical Analysis' started by easymon1, Sep 2, 2019.
"Trading an Engulfing Candle at Support & Resistance provides greater conviction."
10 Ways For Traders to Take Profit
range charts, easier to see head and shoulders pattern
If you are looking at every perceivable method...and they all fall short...does it not bring you back to examining the individual bars and how they play out in the swings...price is moved by orders...how do you see that in the charts when a price stops moving lower or when a bar stops moving higher. Once you can see the orders then it is simple to put a target in place by the swings
All models are wrong but some are useful.
Since all models are wrong the scientist cannot obtain a "correct" one by excessive elaboration. On the contrary following William of Occam he should seek an economical description of natural phenomena. Just as the ability to devise simple but evocative models is the signature of the great scientist so overelaboration and overparameterization is often the mark of mediocrity.
2.4 Worrying Selectively
Since all models are wrong the scientist must be alert to what is importantly wrong. It is inappropriate to be concerned about mice when there are tigers abroad.
"Cunningly chosen parsimonious models often do provide remarkably useful approximations."
"Remember that all models are wrong; the practical question is how wrong do they have to be to not be useful."
"Modelling in science remains, partly at least, an art."
"A map is not the territory it represents, but, if correct, it has a similar structure to the territory, which accounts for its usefulness."
"Everything simple is false. Everything which is complex is unusable."
"A model is a simplification which fosters understanding."
"Scientists generally agree that no theory is 100 percent correct. Thus, the real test of knowledge is not truth, but utility.
“The basic trouble, you see, is that people think that “right” and “wrong” are absolute; that everything that isn’t perfectly and completely right is totally and equally wrong."
erin, yes, every method known to man and beast.
def provide a link to the essential nuts and bolts of your method when you get a chance. Thx
There is none - it is a basic understanding of how and why bars form - orders. From that knowledge you can start seeing how the market is moving. So here is bitcoin again - we had a bar that was going to potentially close below the buy orders - we know these are buy orders as that bar stopped going lower - it hit buy orders. When price closes below the buy orders...those are overlayed with sell orders - this is why we saw bitcoin decline - bears took control - or we had more sells then buys at this point. I was reading the article you posted, entries are not overrated they are the key to successful trading. I did like the swings but it missed on a couple key areas.
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