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Below is a post I made in another thread. I am posting it here as it highlights using an Advanced Get study to monitor market action. What I am about to share comes out of a "Ahh, now I get it moment. "
If I throw out all the technical indicators and studies, what I am left with is monitoring a market for supply and demand. If a study adds to my understanding of supply and demand then use it. If a study or indicator makes me more confused then I don't use it. I say this as I fight against the "spell" of indicator fascination. This battle for awareness is a battle I sometimes lose.
For all of us speculators, Marcus posted a series of old Advanced Get Newsletters. [URL=http://forum.esignalcentral.com/showthread.php?s=&threadid=6281]http://forum.esignalcentral.com/showthread.php?
And, a few of the articles were by Mike Quanbeck. Mike is a trader, trading coach, and former Get Seminar leader. If you get a chance this weekend review these articles. What MIke is attempting to share is what Jessie Livermore attempted to communicate in "remanence of A Stock Operator." The markets move on the basis of supply and demand. Advanced Get has put together a number of studies and concepts that follow in this of reasoning: "Whose in Control," Andy Busak's Online Seminar, XTL, etc.
What they are all trying to communicate is look to the market structure to measure supply and demand. In a final analysis does the increased complexity of some indicator or study add to your market understanding? If, yes- great: if not - don't use it.
Here is how I will be using an Advanced Get Study to build awareness on Monday.
harndog
Alex:
Thank you!
FYI, here is what I am thinking about for Monday - monitoring the False Bar with the XTL study.
For example, if the I have a False Bar and an XTL Blue signal, then I should have an edge. By edge I mean the floor is no longer in control of a market as something is causing the market to NOT be mode bias. When price is trending as an off-floor I have edge as the floor is off balance. By off balance I mean prices will have to move higher as the floor attempts to rebalance their inventory.
We will see if this new efs and XTL will help identify supply and demand imbalances.
Thank you for your efforts and will see how it works on Monday!
Harndog
If I throw out all the technical indicators and studies, what I am left with is monitoring a market for supply and demand. If a study adds to my understanding of supply and demand then use it. If a study or indicator makes me more confused then I don't use it. I say this as I fight against the "spell" of indicator fascination. This battle for awareness is a battle I sometimes lose.
For all of us speculators, Marcus posted a series of old Advanced Get Newsletters. [URL=http://forum.esignalcentral.com/showthread.php?s=&threadid=6281]http://forum.esignalcentral.com/showthread.php?
And, a few of the articles were by Mike Quanbeck. Mike is a trader, trading coach, and former Get Seminar leader. If you get a chance this weekend review these articles. What MIke is attempting to share is what Jessie Livermore attempted to communicate in "remanence of A Stock Operator." The markets move on the basis of supply and demand. Advanced Get has put together a number of studies and concepts that follow in this of reasoning: "Whose in Control," Andy Busak's Online Seminar, XTL, etc.
What they are all trying to communicate is look to the market structure to measure supply and demand. In a final analysis does the increased complexity of some indicator or study add to your market understanding? If, yes- great: if not - don't use it.
Here is how I will be using an Advanced Get Study to build awareness on Monday.
harndog
Alex:
Thank you!
FYI, here is what I am thinking about for Monday - monitoring the False Bar with the XTL study.
For example, if the I have a False Bar and an XTL Blue signal, then I should have an edge. By edge I mean the floor is no longer in control of a market as something is causing the market to NOT be mode bias. When price is trending as an off-floor I have edge as the floor is off balance. By off balance I mean prices will have to move higher as the floor attempts to rebalance their inventory.
We will see if this new efs and XTL will help identify supply and demand imbalances.
Thank you for your efforts and will see how it works on Monday!
Harndog