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Patrick,
Having worked extensively with time based trading for 10 years (5 years
with the WaveTrader/CycleTrader 10 with Gann and Elliott,
Fourier Analysis, Astro etc), I must dispute the idea that any one can
trade with Time alone and be profitable in the long run.
What you trade when you trade is PRICE...... Quite often TIME will be right
on all counts and if you take a position you will lose money if the pattern
does not support it. While even the venerable marketer himself WD Gann
could pick tops and bottoms in advance he only had a small portion of his
capital on these ego based trades. He made his real money by following
trends and knowing how to press it and by capitalising occasionally on the
time based trend changes (Astro) Mechanical Swing method cut in. (my
source is an old guy who worked for Gann - Bob Courter - he is probably
dead now as he was real old when I spoke to him).
Price, Pattern and the nature of the Trend (mature or immature) will always
give you the probabilities of a trend change. I have seen too many great
timing set ups be ignored by the market when the true condition of the
market was not set up. We have a bunch of people in Australia who run
around saying its a "Time By Degrees Day" every 2 or 3 days. Naturally
some of these - close to 20% - will be actual trend change days - it is
just Gann's Solar degree counts repackaged. The rest is just spaghetti
soup. People in the US will have the pleasure of spending $20,000 to find
out such useless peices of information. Needless to say the people using
this do not last long in the market because they have no idea of Price
Pattern and trend when the market comes into these Time Zones.
Anyway enough diatribe. PLEASE LOOK AT PRICE IF YOU ARE TRADING ON TIME
BASED METHODS>>>
Regards
David Hunt
----------
> From: Patrick Slevin <slevin@xxxxxxxxxxxxx>
> To: knight@xxxxxxxxxxxx
> Cc: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Re: FUTR GEN: RR and the TTC / Dali Landscape
> Date: Wednesday, October 22, 1997 6:16 PM
>
> Many people rely entirely on time in trading, and disregard price.
>
> Based on his A/D oscillator, McMillan shorted the OEX last Tuesday. Price
was not the
> issue.
>
> Hank Camp, a successful trader, newsletter writer, and teacher, times his
trades to
> within 5 minutes each day before the market opens.
>
> Sloman/Wilder's work on the Delta Phenomenon looks for entry and exit
points based on
> time, not price.
>
> There are traders who prefer to trade on news, on support/resistance, on
chart
> patterns.... why not time?
>
> --PJS
>
>
> >
> > Rick,
> >
> > As far as my private e-mails go, I will say what I like.
> >
> > On this forum, I will confine myself to questions about trading.
> >
> > And I will continue to question closely any methodology that can not
> > offer practical trading application.
> >
> > This isn't a Dali dreamworld Rick. The things all of us RT'ers write
> > MUST be tradeable in practical terms.
> >
> > You keep talking "time", but at some point, that must also equate to
> > money. We are trying to take profits in one of the hardest
> > proffessions in the world, and that is why we are here. To find the
> > best ways to do that, in the least amount of time.
> >
> > You talked about some of your Hog trades. GREAT. Tell us about it.
> > Walk us through the trade from beginning to end. From the first
> > formative FDATE, to the entry, to the exit. The why's and
> > wherefores.
> >
> > You have said that I simply don't understand what you are doing. OK,
> > fair enough, maybe I don't. Rick the real mark of a teacher, is the
> > ability to convey his concepts in understandable and PRACTICAL
> > terms. SHOW me how you are applying your concepts in actual trading.
> > You aren't giving "trading advice", if you simply run through a
> > trade you did using your concepts. You are simply illustrating
> > your ideas in real terms.
> >
> > I don't even care if it's a winning trade or not. You might be
> > suprised Rick, at how sympathetic I can be when the mouth stops
> > talking, and the money starts walking. I KNOW how tough trading is.
> >
> > Whatever you post, I promise, I won't criticize it. Fair enough?
> >
> > Finally, If you Don't plan to respond in concrete or constructive
> > TRADING terms, then don't respond at all.
> >
> > Walt Downs
> > CIS TRADING
>
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