Thursday, May 06, 2010

A in TA, D in trading

I couldn't trade today after early morning due to other commitments. Is a pity since today market did all the pending "work" we were signaling in our posts since February. If you remember ( or wish to dig in the archives, since 1086 ES we were saying it was a fake move, and it was so fake that only took an hour of real market action to wipe it out completely.
Just to quote a couple of those posts and see how they "sound" now:

plz check that same chart now updated:




However I have to admit I was wrong about expecting a retest of certain levels before the big drop ( now is even funny to talk about it uh ?).  So my trading plan was wrong regarding the retest part and wouldn't have made money today, which is not that bad , BUT.
How much could have made a good trader who followed this (his own)  T analysis?

This is the chart I posted back in late April as overall IT  map:
And this is the same chart and TA as of today:




Again: How much could have made a good trader who followed this (his own)  T analysis?. Sadly, I didn't follow it as I should have
Next steps are clear: improve this aspect


This is the big challenge now, follow your own analysis once it has become reliable  


So  new focus is + and better  trading and less TA. Therefore:  I will likely not post charts.


In addition to this, I have found some copies of  my charts and/or charting style elsewhere and regardless of the value public may assign to it, It took me effort and time to learn it and it is not nice to see it carbon copied elsewhere by other people who even claim to be its authors.



So this is a farewell to public TA - charting.


Hope you profited from todays  historic action.