<<Yet there has to be a math to what IKEs doing--even if it's an internal math that's not in equations. I use equations, not graphs. >>
I wish I could come up with a great theory, but I don't use maths or anything exotic my stuff is what is known as market conventional wisdom and experience. The inadequacy of its intellectual basis is oft repeated on my thread, the only thing I have seen that it works whereas the exotic stuff makes me prisoner of my calculations. I use plain charts and FA, I interpose my analysis on charts and find my levels, I watch a lot of action in the pits and look at other developments during a session. My thinking is based on fluidity of thoughts and I believe that it is freezing of mind that is most harmful. If markets could be traded by equations, IBM big blue should have been the best traders and IBM main computers the best timers of the market.
The wicked nature of human mind is what is at work in the pits, to chart it with maths is impossible (for what I know) and those who do it find it out at their peril, the futility of the exercise. I do it the KISS way, something that works. On these pages nearing four years my daily posts are available I assure you that targets expounded have all seen the day light but it has been a simple way and it comes when one follows what market is planning to do. The problem with exotic stuff is that one tends to take the market on his side and that is a wrong strategy. Market gives you signals every level taken out is a pointer to the mode of the market, I just try to track this mode, it is not easy but market so far has been nice to me. May be it is all a fluke and lets see when bear market sets in, but I just wanted you to know the banality and very basic thinking I utilize in my market profiling.
I envy those who use more bigger and grander theories, for people like me Gods have left some beauty in the ordinary thing we just try to partake a little from that little left for we commoners.. I assure you that I really know that there is not much into it and I want make this clear, many a theorists and great heroes rarely survive the time honored tests and rigors of the market trading, for me that is the only test I subject myself to every day. Once again reaffirming my modles inadequacies I remain,, your most faithfully...best regards and hoping to see your posts on this thread .. |
