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[RT] Re: Micheal Jenkins



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--- In realtraders@xxxx, "Levent Erbora" <erbora@xxxx> wrote:
> Thanks for your response, Haytham.
> Well, I have been in and out of several tunnels in my 15 years of 
living and
> breathing the markets, of which the last 4 as a full-time 
daytrader, and I
> think I have a pretty good idea about the nature and whereabouts of 
the
> "light", at least the one that shines on my path :-))
> 
> About the stuff that I found lacking in merit, so to speak:
> 
> 1. The claim that every major hi/lo of a stock spins off cycles of 
that
> absolute hi/lo price's number in days, wks., months, etc.
> Not only this does not make too much sense when you really think 
about it
> (i.e. one can easily come up with situations where this makes no 
sense at
> all), I have not seen this work either with any tradeable 
reliability or
> consistency.

It does and when you solve it you are there...
> 
> 2. The big "SCALING" problem, which is the most common pitfall 
and/or
> controversy in the Gann world. Although he frequently mentions the 
scales
> for lines/angles as being per hour, day, week, etc.,
> as far as I remember, most of the lines on the example charts 
didn't fit any
> of those scales consistently and seemed like they were 
just "fitted" for the
> best visual effect.

I have posted a message before on how I calculate the scale for the 
angle or use the live angle calculation and change the scale for the 
gann lines under property.
> 
> 3. The use of "arcs", like he is doing for intraday S&P trading 
examples,
> etc. When it is "arcs" we are talking, the "scaling" problem is 
even 10
> times more severe! What exactly is the "scale" he is using? What is 
he
> basing the arcs on, how is he setting the radius, etc.? It is not 
clear at
> all, and it makes a huge difference in the end results.

The arcs are wonderful, the scale is actual problem in all the 
software except Gantrader software, the limitation of Gantrader 
software is EOD but you can analyze the EOD data and this will help 
you in knowing all what the arcs offer(S/R...etc)
> 
> 4. The way he is using 6 hours instead of the actual 6.5 hours per 
day of
> trading for his long term time counts, etc. In my experience, the 
real deal
> 6.5 hours give much better results (if any) in all my timing 
projections (of
> that kind).

I tested that and I found 6.5 is as good as 6h so I use 6.5h
> 
> These are just a few things off the top of my head. Now that I have 
found
> someone who speaks the language, I may review the books one more 
time and
> bother you again in the near future with some other things that 
puzzled me
> :-)

Rgards,

Haytham
> 
> Thru the tunnel towards the light,
> 
> Levent


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