Knowledge is of more value than gold

[bobcollett 10]

Hi, WMCK is a family code, meaning behind the code is "we are all guests in our life", 6167 is "wish you prosperous". I am not good at market analysis, but I like to make some friends here. Cheers.

 

Hi wmck (we must cut kosts)

I have been thinking about your comment

We all come to TL to learn a bit and make a friend.

Both are not easy.... it takes years.

And often the" friend" is trying to sell you something. :doh:

Watch out for Patuca.... snake oil salesman :haha::haha::haha::haha:

This thread is not for you.

I'll come back to you.

kind regards

bobc

PS Wheres Sugar Land..... Cuba?

[SILVER 10]

This might become a good thread guys:)

 

The easiest way to get a feeling for Gann is to STUDY his case-studies on US STEEL and AUBURN MOTORS.They show ideas that are easily comprehended and dont need any life-time study of extra-curricula.If you are in to see real Gann you cant avoid studying things that basically dont have any direct connections to trading.This is where I see Gann as unique genious-how he transformed even the strangest of ideas to something trading related.

[tradingwizzard 10]

Hi tradingwizzard,

You have to be a real wizkid to understand this :confused:

regards

bobc

PS mitsubishi . Do you understand this? Or am I just a slow learner?

 

not a wizzkid....just a curious one....that was in the past and holds true to this day

[tradingwizzard 10]

Your pyramid shape triangles and the idea behind them are very familiar...wouldn't you say Bob? It looks like wiz here has just pulled an old rabbit outta the "Beyond Gann" hat.

You really are a wizard.Quite a feat converting your handle to green:shocked:

Can you lay on a jaw dropping emoticon because mine is beginning to ache now-should be a cinch with your newly revealed powers...

 

I'm completely subscribed to your planned thread..... have I entered some kind of parallel universe?

 

have to admit I did not look over the "beyond Gann", but it's not late....already posted earlier that I do not say I understand all of Gann's work, however, I did pick what I did understand and looked at things under my own approach, things I found interesting at that time, and still do...astrology in trading, time in trading, etc........

 

as for the colors, mits, ......what can I say...like the rainbow....depends the angle you are looking from........it is visible for some.....not the same for others.....I know you know what I mean

 

glad to hear you're on board with the new thread....just a proposal......let's see first if this eurgbp 1h chart attached earlier touches the d wave around the price and time level.....and then move forward.....we'll have some time to chat some more till then....plus confirmation/invalidation of specific levels/targets

[tradingwizzard 10]

This might become a good thread guys:)

 

The easiest way to get a feeling for Gann is to STUDY his case-studies on US STEEL and AUBURN MOTORS.They show ideas that are easily comprehended and dont need any life-time study of extra-curricula.If you are in to see real Gann you cant avoid studying things that basically dont have any direct connections to trading.This is where I see Gann as unique genious-how he transformed even the strangest of ideas to something trading related.

 

hi silver,

 

not familier with any of the cases you are quoting above, but would love to hear some more...so any info regarding the subject will be highly appreciated

[tradingwizzard 10]

Hi TW

You see , when I suggested mitsubishi comment, I knew there would be more than one page . You owe me.

And you can see how excited he is.:roll eyes:

If you have time , perhaps go and read "Beyond Gann" :missy:

You can also see that there is not a big readership of Gann Theory from the few comments.

Thats life

 

Now for for the million dollar question

Do you trade with your theory?

What market?

kind regards

bobc

 

hey bob,

 

it's not a million, it's not dollars, and definitelly not a question that cannot be answered

 

yes, I do trade it

mainly for currency market, but for ALL the pairs

and it is part of a system

not appears often, but when it does, the opportunity is there.....will expand the concept under a new thread, later...

[tradingwizzard 10]

Bob,have had time to look at the wiz's chart.Begin by ignoring all the angled lines,focus on the horizontals-you have 3

1st horizontal marks the high of the rally © 2nd is drawn from b,the low of that rally.3rd is the mid point between b and c.

The verticals are drawn thru b and c and are marking time Now,the verticals are divided into equal time segments (but the 2nd vertical (there are 4) then could only be drawn in hindsight since you need to have c in place before you can mark that 2nd vertical.

You now have a grid there of horizontals (3) and verticals (4)

Next,all the angles are drawn corner(s) to corner(s) diagonally

Finally,where the diagonals intersect,the grey rectangles mark potential future reversals,though there appear to be 4 missing rectangles within the central pyramid.

Also (possibly) the angles maybe indicating direction ie angle drawn top left to a bottom right corner may indicate declination of a cycle,or in plain English -lower prices.

 

That's all I can discern so far before wiz tells us more/corrects me.

My instinct for this approach should I be experimenting with it is that the model is attempting to predict too much.Personally I have found that the answers are simple not complex,just very difficult to find..For me,anything like this should ultimately relate back to trading 101..support becomes resistance etc.In other words,somebody using very traditional methods could get a similar result in terms of recognising probable turning points in the market.

If that is true,then why bother going down a more esoteric route in the first place? A reasonable question.And the answer I think is that you can "see" much further into the future,like chess,more than one move ahead,and hence some people have been able to make pretty stunning (and documented) predictions.I recently saw a list of guys i'd never even heard of that did that each using very dfferent methods..I'll post a link later.

 

A typical example of where the esoteric often has an edge is where price blasts through a level you would think had a good probability of holding.And the reason is (my theory/conclusion) is that time is not yet up.(Real world explanation is big money working their plan)So,the wave count/pattern has not completed.When it does complete it will coincide with a predicted price target.Price and time are connected but I just don't think it's

a) mystical and Gann like

b) or price/time =1 unit

c) nor can a prediction be cast in stone "must happen or my theories are wrong"

 

As I said before,when a wave completes and a new wave in the opposite direction begins that is,in effect price and time being the same thing.So if I have a wave pattern complete at a price calculated in advance from the low of a wave I have a highly probable turn.

 

If some of this sounds a bit too far out there for some,it's simply one step beyond using EW and traditional fib ratio retracements/extensions.I believe they will work often enough for a skilled trader.Personally I have found a much more simple and reliable way of quantifying waves and Fibonacci.And I would not have got to that point had I not had an interest in the more esoteric ideas around.Hence i'm very interested to see what others are doing and wiz's material.

One thing i'm a looong way from is making Gann like predictions for way into the future.

("you don't say":roll eyes::rofl:)

 

mits,

 

mostly right in your description here.....however, I am looking at the counfluence areas not as turning points, but rather targets where price normally should come

 

they should be treated with a grain of salt, as seldom price goes exactly throuhg the intersection, hence the rectangle there, but it allows you to have a nice educated guess

 

posted one nzdusd hourly chart on the Live trading the currency markets thread to justify my long position taken there.....please feel free to look at it

[tradingwizzard 10]

Have you heard any of these guys names before?.....

Traders Can't Time The Market - Business Insider

 

FORECASTING GIANTS OF THE PAST

 

1. Major L. L. B. Angas began forecasting the New York and London stock markets after World War I. He was substantially correct in forecasting the booming markets of the 1920's, the 1929 top, the 1932 low, and other major swings in the stock market during the period ending just before World War II. He also made a series of correct economic forecasts as well during this period of time. After almost three decades of unusual foresight, his analysis became much less accurate.

 

2. Hamilton Bolton started the "Bank Credit Analyst" in 1949, in part using ideas which had been developed by a now-obscure analyst named Harding. In the early 1930's Harding developed a theory of tracking the flow of money and credit in the banking system. Between 1949 and Bolton's death in 1966, his service correctly predicted all of the major bull and bear swings experienced by the stock market with but two exceptions: being bearish in 1951-52 during a basically flat, trading range market, and missing the 1962 collapse. The latter, Bolton correctly maintained, was purely psychological and would be more than completely retraced. In addition, Bolton established beyond question that money and credit flows as measured by statistics provided by the banking system itself had an important effect on the general level of stock prices. Many of his ideas are now widely accepted by stock market analysts and economists. Since 1967, the basic theory has continued to "work" non-randomly, but not nearly with the precision it had before.

 

3. George Lindsay started in the early 1950's with an advisory letter, and began issuing detailed annual stock market forecasts in 1958. These were based on his unique theory of "repeating time intervals" which still stands at right angles to all other forms of analysis. These forecasts actually indicated probable dates of significant highs and lows in advance and their likely amplitude! During this time, any person who dared follow these forecasts would not have been caught substantially unaware by any worthwhile market swing. The year 1970 ended a long success streak when the dramatic March-May collapse was very much understated and given less than high probability of occurring. Mr. Lindsay is still practicing and while having made some errors has continued to compile a highly non-random record considering the type of forecasting he does.

 

4. Edson Gould began writing a market letter more than three decades ago. Up until 1976, he had correctly called all major bull and bear markets, often just a few days from their exact termination. He had no misses during this time period. Since 1976 his constant bullishness has, in fact, been borne out in the broad, unweighted price indices, but not in the Dow Industrials. Nor did he correctly anticipate the steep drops of October 1978, October 1979 or February-March 1980.

 

5. Paul Dysart - In our opinion, the ultimate crown for sustained accuracy and forecasting acumen must be bestowed upon the late Paul Dysart. Between 1945 and 1967, with only three minor exceptions, Dysart called all major bull and bear markets very close to their extremes. His average error in both points and time was very close to zero. In 1958, 1963 and 1964 Dysart recorded "false" sell signals which he quickly realized were incorrect and took them back. Unlike every other analyst we have labeled as a "forecasting giant", Dysart also had an ability to select issues for long-term investment. His compact list of recommended stocks over this twenty-two year span had a grossly disproportionate number of exchange-traded issues which racked up multi-hundred percent gains and which genuinely enriched a small but loyal band of subscribers

 

 

Read more: Where Have All the Cowboys Gone? | The Reformed Broker

 

unfortunately not.....thanks for sharing that, will look into it

[SIUYA 11]

like him and his policies or not supposedly John Maynard Keynes was a hell of a stock picker as well.

 

"David Chambers and Elroy Dimson, finance scholars at the University of Cambridge and the London Business School, respectively, have found that from 1924-1946, Keynes, while serving as the overseer of King’s College at Cambridge’s endowment fund, produced returns that beat the UK market average by 8 percentage points per year, adjusted for risk,"

 

John Maynard Keynes :: Keynes The Money Manager

[SILVER 10]

Link?

 

Sorry no link....look for ´rare writings of gann´ that contains both

[tradingwizzard 10]

I thought I should put the eurgbp chart again just for you to see where price is now....this being an hourly chart, things move quite fast

[wmck6167 10]

Hi wmck (we must cut kosts)

I have been thinking about your comment

We all come to TL to learn a bit and make a friend.

Both are not easy.... it takes years.

And often the" friend" is trying to sell you something. :doh:

Watch out for Patuca.... snake oil salesman :haha::haha::haha::haha:

This thread is not for you.

I'll come back to you.

kind regards

bobc

PS Wheres Sugar Land..... Cuba?

 

Hi, Thanks for the advice. Indeed, I was attracted by the key word "King's Solomon" to stop by. If your kitchen is using Imperial Sugar, you definitely will know where the Sugar Land is. Cheers and have a wonderful weekend.

[sergso 10]

But any knowledgeable person would take the gold and run

[bobcollett 10]

Hi we must cut kosts,

TradingWizard is sharper than he looks ..... he used to be a xxxx star.

Go to his thread "Live trading the currencies.." and paper trade his trades.

Forget about his method. Just buy when he says buy and sell etc.

And report back with your profit .

I am going to do the same.

regards

bobc

[bobcollett 10]

Hi TW

I don't trade currencies, but I read your complete thread "Live currency trading .."

I like your style

I would comment that you have not received a response on good advice given.

Is your method too difficult to follow?

Your post 40.. the latest trade, has me completely bamboozled, and I don't think you will find that word in Romania

The price action moved below your diamonds, but you never moved your diamonds.... so the bottom line you show IS NOT THE LOW.

And your wave count is always a,b,c?: confused:

regards

bobc

Slow learner in the classroom

PS Are your calls made with real money?

[tradingwizzard 10]

Hi TW

I don't trade currencies, but I read your complete thread "Live currency trading .."

I like your style

I would comment that you have not received a response on good advice given.

Is your method too difficult to follow?

Your post 40.. the latest trade, has me completely bamboozled, and I don't think you will find that word in Romania

The price action moved below your diamonds, but you never moved your diamonds.... so the bottom line you show IS NOT THE LOW.

And your wave count is always a,b,c?: confused:

regards

bobc

Slow learner in the classroom

PS Are your calls made with real money?

 

bob,

 

at point 40....it is still a correction.....wave d done looking for wave e, so the rules must be the same

[tradingwizzard 10]

Hi TW

I don't trade currencies, but I read your complete thread "Live currency trading .."

I like your style

I would comment that you have not received a response on good advice given.

Is your method too difficult to follow?

Your post 40.. the latest trade, has me completely bamboozled, and I don't think you will find that word in Romania

The price action moved below your diamonds, but you never moved your diamonds.... so the bottom line you show IS NOT THE LOW.

And your wave count is always a,b,c?: confused:

regards

bobc

Slow learner in the classroom

PS Are your calls made with real money?

 

it not always abc........just that under that approach I am looking mainly at corrective moves, as they are easy to spot and identify.......and because they are corrective, hence mainly abc''s....

[Ammeo 10]

Knowledge has its own power. I am not talking about any qualification but pure knowledge gained from self learning which i consider the best learning anyone could get.

 

Carl Icahn has a degree in philosophy but his knowledge in Financial sector which he all learnt by himself is second to none and that makes him of the greatest investors on the current era.

[tradingwizzard 10]

Knowledge has its own power. I am not talking about any qualification but pure knowledge gained from self learning which i consider the best learning anyone could get.

 

Carl Icahn has a degree in philosophy but his knowledge in Financial sector which he all learnt by himself is second to none and that makes him of the greatest investors on the current era.

 

another example trading successfully doesn't necesarily has to do with education