Saturday 21 March 2015

Weekend charts

I would like to thank you all for your donations. I love charting and sharing my ideas in this blog. Your donations are making it even more worthwhile. Hope we all can learn and prosper through this process. Have a great weekend.














22 comments :

  1. Wonder if a

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  2. That's a very good question. Well spotted. I will try that on Monday and post it if it works out well.

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  3. Thanks for posting!

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  4. Tommy Lattimore22 March 2015 at 23:19

    I like your charts and discussion. What is the charting program you use? What is your method of drawing the lines you draw? Is there a method or a guru or a charting or technical analysis book that you use or follow? In short tell me more about your charting methods.

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  5. Tommy meant to say "please" at the end of all his requests.

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  6. Bouraq,
    I don't think my cocktails are that strong, so correct me if I am wrong, but on the Sugar Chart, were there two 1st Quarters in 2013, and is that a Pink Elephant crossing the street?

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  7. Mr Bouraq,


    No Sir, you are wrong! I am with you, holding my own bag of Wheat!
    I expect it to climb to between 625-650 where I will exit. I have high confidence and do not see the current pattern as a Bear Flag.


    You do great work, and are worth every pence sent your way (is that insulting? Okay, so say something bad about us Southern Californians).


    Jack in San Diego

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  8. LOL. How on earth did you notice that? Yes that Q1 was lived twice that year :)

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  9. People need manners Jack. I don't know how to answer to him now. There
    was another one on twitter "requiring" me to chart on sugar.

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  10. Jack,
    It's great to hear that at least someone is enjoying this ride. A lot of people were asking me when it started rising and I was giving them the support levels to go long. Later on they all went quiet. I guess the first indecisive choppy area scared them off. Patience will pay off. Today's gap up is a very good sign. I may even hold it much longer if it breaks the 600-620 level with ease. That would mean the downtrend is over.

    And that sentence is not insulting. :) Thanks a lot. Keep in touch.

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  11. You're most welcome.

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  12. Your charts are "simple to follow" (other chartists tend to offer more information, but that turns out to be "NOISE" for me). In this information age simplifying information is Underrated. Simply put one can make intelligent decisions based on your charts at a very fast pace.

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  13. Lambert,
    That's the idea of channeling. Trading doesn't have to be complicated. If the objective is to make money, you do not need more than a few lines. It needs a lot of practice. Simple but not easy :)
    My motto: "Simplicity is the ultimate sophistication" L. Da Vinci.

    P.S. Thanks a lot for the donation by the way. Glad you make use of my charts.

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  14. That doesn't work. they are not parallel RTC.

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  15. Okay. I hadn't tried plotting it before mentioning it, so I didn't know if it would or not. Thanks for checking on it for me, anyway, Bouraq! Have a good evening.

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  16. Yes, and when you are done charting his sugar, go over and do an oil change on his car, and wash the dishes too.


    Not like you have anything else to do.

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  17. Tommy Lattimore23 March 2015 at 21:58

    Yes I did mean to say please! Did not mean to be rude only brief.

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  18. Tommy Lattimore23 March 2015 at 22:03

    If you are talking to me i did not mean to be rude, only brief. Any info or education n your methods would be welcome. I am a long time chartist and very few people get as uncomplicated and effective as you do with your charts. If you can share anything on your methods beyond your comments it would be indeed appreciated. Thanks for your work.

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  19. Hi Tommy,
    That's fine no hard feelings. Thanks for clearing that.
    You've asked many questions which cannot be answered here in a few lines. I'm using Saxobank's platform which doesn't exist in the US.
    The method is obviously channeling and like every other method it is subjective. I have my own set of rules but they are not written anywhere. Frankly, I've learned and developed those set of rules myself after looking at several bloggers' methods. I read over 50 books on TA. I was first imitating those methods but then I found a lot of flaws in them and changed those suitable for my understanding. It's hard to explain all the rules but if you follow my charts I reckon you will start getting the idea. It needs a lot of practice and a good charting platform.
    There are many technical analysis books out there but none of them focuses on channeling. Gurus, well, I follow some of them but I disagree with most on drawing supports and resistances. Sorry, it sounds a bit cocky but that's how I see it.
    I recently started reading Greg Capra's book which was recommended by a trader friend. He told me it's pretty good so I will let you know if it's useful than any other book out there.
    Hope this helped a bit.

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  20. Tommy Lattimore25 March 2015 at 17:41

    Yes! Does help. I too have read probably 100 plus books on Trading and TA and I am no novice. It all comes down to what you are comfortable with. I love Charts but the Author that had the greatest beneficial effect on my trading does not use Charts. He ( Gary Smith) still wrote one of the best book on trading I have ever read, "How I Trade for a Living".

    Keep up the good work.

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  21. I will definitely check him out. Thanks Tommy.

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  22. Tommy Lattimore26 March 2015 at 02:33

    A word of caution or explanation. I don't believe anybody could trade now the way Gary Smith did in "How I Trade for a Living". He used Mutual Funds and did Mutual Fund Switching. One could do what he did trading using ETFs today rather than Mutual Funds though and achieve similar results. He is unique though.

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