What I should have said... "If you know Price TA and you're paying attention... and you didn't get this trade, then you were a "bonehead" for missing it.... I mean, GEEZ... that was "flashing green light" buy. (Of couse if you don't know Price TA or were romancing your secretary at the time, you wouldn't have known.) Does that make you feel better?
. Your charts and bonehead comments are welcome contributions to the forum, always interesting and sometimes educational. Illegitimi non carborundum
More trade what you see.... sell resistance, buy support. Tops line... the 3rd (fat) arrow was the indication. The 2nd arrow might have been caught as a "matched high" that came up a little short. Support and Resistance are NOT a specific tic... they are a small zone... an "area" of support/resistance... sometimes they line up to-the-tic. Often they are a bit off of the tic but still in the "area". You'll do better if you accept that the price is "in the zone" and loosen up your parameters of risk a bit and catch more of the "turn earlies". Same notion applies to "overshoots a bit". Bottom line... matched low with Sep 27. Don't feel bad if you didn't get these... I didn't. They occurred overnight while America was asleep. Good for some European trader guys though. Which traders caught these plays or didn't is irrelevant. They were there. The objectives of "Price TA... KISS" are to "catch what you can WITHOUT TAKING ANY LARGE LOSSES". Even if you miss 2 trades then catch only a portion of the next, that's still winning. And always the potential to do better next time.
Absolutely NOT. If you offered me $100,000 I wouldn't bother. The only teaching I'd do would be for $10 Million. Who would pay that? Someone/institution to whom $10 Million was pocket change... money they could recover quickly because of their size. (Why $10 Mil? I could do something with that amount... like maybe donate it to a children's hospital and have a ward named after me, or maybe build a new "no-kill" animal shelter... I'm not interested in $1-2 Million... I already got plenty of those.. so having a couple of more won't change anything financially for me. Actually another $10 Mil wouldn't change my financial situation either, but I wouldn't want to charge more as it might seem like gouging.) So you see... when I hand out little bits of gold*, they should be valued. *My little "bits of gold" have so far been only to draw attention to the basics of "Price TA... KISS" That is, "Buy Support, Sell Resistance, Chase Breakouts, Trade With Stops". That's not MY gold... it's Chapter 1 in Technical Analysis 101.
Dam you are good That's the best pitch I have heard in a while... I'm sure there are plenty of institutions who would pay 10m plus to forecast double tops, double bottoms.....after the fact Maybe not
Like I said... "Chapter One" in Trading for Dummies. You'd be surprised how few get it. Accumulation/distribution? That concept doesn't directly apply to Price TA... whatever "they" are doing and for whatever reason... is reflected in the net buys/sells... which is displayed in the price chart... so fuggetaboutit!