OAC

Is Wyckoff for real, or was he one of those who profited from the Gann promotion by putting him in the Ticker magazine. I don't want to offend anybody, I am just using my humble common sense here.

This is a Wolfe Wave that formed since the beginning of the month as appeared on my ES 15 minute chart. Looks like it hit the 1-4 target line and died. But that point 5 was a little tricky to narrow down. As a matter of fact it has way exceeded the standard guideline for point 5 as set forth by Bill Wolfe.

THOSE PREVIOUS SUPPORT AND RESISTANCE WERE FORMED DUE TO THE LAW OF VIBRATIONS. THE TRENDLINE MERELY REFLECT THE FREQUENCY OF THAT VIBRATION. THERE IS NOTHING INCIDENTAL ABOUT IT. http://www.tradingfives.com/gann/wd-gann-interview-1909.htm

MTpredictor is good for a beginner. They also provide you with a lot of hand-holding and support But there is no way to customize the software to your liking. For professional trader, Robert Miner's Dynamic Trader is way better. As a matter of fact Steve Griffiths of MTpreditor used to work for Robert Miner.

His materal is ok, but I am also put off by his smooze. He claimed that he worked at a proprietary trading desk which make you think it is a big financial institution or something, enhence the "Insider Code". Then later you find that the the proprietay firm he was talking about consist of a handful of traders renting an office together trading their own money plus the money they raised from a couple of silent partners. Wow some insiders !

Sorry I had a couple drinks when I wrote that. What I meant was it takes practice to draw the trendline properly and more importantly it takes a master to interpret correctly. You know we moderators work long hours.

That is kvn's example , the guy who initiated this thread

Don't ever mess with the Chimp:

I guess the principle of multiple touches doesn't work for you guys then ? or at least on a consistent basis ? Ok, Ammo may be right, we are looking at different types of charts. That would explain it.

Hey, nothing wrong with that. It is just one view. This is the Technical Analysis Section and not the Wyckoff Forum. As a matter of fact, the Chimp basically agree with some of my interpretations such as the angled line and multiple touches that you guys have a problem with. And he is spending most of his time on the Banana Island nowadays.:o

I guess he can afford to live on a private island anywhere in the world ?

A three year old can see it if you add the volume histogram to the same chart ? If you want see more detail you zoom into on the next lower timeframe, another word if your chart cover one whole trading day, I would also zoom in on the Volume histogram for every single hour. I think if I remember correctly that is how Kiwi uses S/R If not, then why would people even bother to study market profile ?

Since you and Dbpheonix may have been educated in the Wyckoff tradition. You pull up a chart that shows either a spring or upthrust that had been formed. You show me where you would enter and I will show you how I would enter with a trendline.

But you forgot that any three year old can draw a horizontal S/R line, but it takes a master to draw a proper trendline.

The reason this S/R worked so well for kvn is not because it is horizontal but because it had multiple touches.

With the federal bailout of Fannie Mea and Fredide Mac, and most likely many more financial institutions to come. This means only one thing: The Fed turning up the printing press into high gear. That will provide a big shockwave to the projection and inflation figure is likely to be a lot higher.

And also why are you asking us these questions here. Since 95% of us are failures(I am not saying we are not), then there is 95% chance you will get the wrong answer. Why don't you interview the Market Wizards ?

Whether you want to admit or not, you are a grail seeker by the questions that you ask. Denial is a common human attribute, so don't take it too personally.

The first link has over 100 pages, and yet he is busy trying to upload the second link with, god knows, how many more pages. I was teasing him about jamming all that stuff down our throats. It would be nice if Dbpheonix or one of his disciples can provide a one or two page summary ,so us layman get a glimpse how the material might help in our trading before we decide if we want to pursue further.

Does VAP stand for Volume at Price ? We usually use term Volume Histogram or Volume Profile here. Also we use the term PVP for Peak Volume Price.

Since this is the Technical Analysis section, there should be other interpretations of S&R allowed other than the one that is preached at the Dbpheonix or Wyckoff school of professional trading, right ?

I feel what may be most important, besides the belief that you were borned to do this, is to be inspired by a higher power. Men through out history have accomplished extroadinary feat of achievement because they had believed that this was their calling. How do you keep the faith when you don't know how far the finish line is ? Well you must enjoy the process, which means continual of study and research and practice on your demo account in your spare time even though you have just blown your live account . If you don't enjoy the process ? Then perhaps trading is not for you. If you truly enjoy the process and you know in your heart that this is your true calling, then you shouldn't have to ask yourself if you would do it all over again. Right ?

Aha, Dbpheonix, so you are the one who has been hijacking all the threads.

This is a free site with tons of valuable information. What we have here is a newbie who is already complaining although i will bet he or she never even read any of the posting yet. He is exactly the type who will scoop up $5000 for some vendor who promise the holy grail. This thread is totally worthless, I say we should close it down !

Yes, I use quite a bit of Andrews myself. But earlier in this thread, they were harassing me about using lines that are not horizontal. :hmpf: