Forum Archive Index - October 2003

[Phyllis Bergquist <phyl@clear.net.nz>]

Thank you v much.     I have always believed the closing price is the important one -  the professionals last word on the session according to several speakers whose Seminars I have attended.   I am not a Mr Gann expert - tried to read his books some time ago but they confounded me.    Probably wouldn't so much now with a bit more expertise.     I have always enjoyed and learned from Neil Costa - he has been to NZ twice (hope he comes again)  and would really like to understand more of W D Gann because I really believe he had the absolute edge on prognosis.    P.      Perhaps when I retire!!!!!!!!!!!!!!!!!!!!!!!!

 

----- Original Message -----

From: fntradingsolutions

To: sharechat@sharechat.co.nz

Sent: Tuesday, October 14, 2003 1:45 PM

Subject: Re: [sharechat] Woody

I use candles and I am more interested in the Closing price.

----- Original Message -----

From: Phyllis Bergquist

To: sharechat@sharechat.co.nz

Sent: Tuesday, October 14, 2003 6:39 AM

Subject: Re: [sharechat] Woody

Hello - Firstly   Cris - what heresy - ALL the best hotels and motels place the T/P on the overhang method -   How can you go against

that monumental tide of opinion????????????????????????

 

Next Hello Woody - may I enquire (fresh from Dan Gramaza) do you use Candles of the Eastern philosophy or Bars.    Do you base your

trades on open/close   high/low   ?????     Apologies if you have already expressed this and

 

Lastly -   What a great site sharechat is now.      I wish I was quicker in  the uptake and had more time........................

Just the same learn lots and enjoy muchly    Phyllis.

----- Original Message -----

From: fntradingsolutions

To: sharechat@sharechat.co.nz

Sent: Tuesday, October 14, 2003 8:44 AM

Subject: [sharechat] Woody

The debate does not seem to go anywhere! I get text book answers. What I am trying to achieve here is YOUR view and YOUR system of FA and how YOU trade it. So please stowaway your philosophy and put your dictionary's back on the shelf and tell me how YOU trade. I shall do the same.

 

Now I believe that all the information about a Stock, Commodity, Currency or Bond is reflected in the Chart.

 

You have Price: Which is both a Fundamental and Technical Issue

You have Time: Which is only a Technical Issue

You have Support and Resistance.

You have Cycles.

 

Price is what the Market is willing to Pay: Now all the FA traders do their research come to a conclusion and from this they formulate a Price, a value for the Market. The Buyers wont pay more and Sellers wont accept less. Now this creates a memory in the Market. This memory is called Support and Resistance. TA traders read this message and formulate from their charts that the Max Price for the Market is $x.00 and the Min Price is $y.00. So they note the Support and Resistance lines on their charts.

Now every time a price moves near a Resistance line both old and new. The Buyers hesitate the FA traders hesitate because their value indicators say DO not pay any more for this Market.  The TA traders do not need to say that they just watch their lines and they know that the Market will hesitate at the line or even stop. Now if the Majority of the FA traders decide that THIS is the Price then they will not pay anymore, so the Market stops. They TA traders are already prepared for this and place their stops there or Exit the Market. Now the FA sellers use their value indicators to tell them that this is a good place to sell, WE HAVE SOLD HERE BEFORE. ( Hence a Cycle )  The TA traders already know this from their charts in fact they can often PREDICT this price and the time it will hit this Resistance area by Simple Maths. Price and Time MUST balance out. When they do the Market rests. Hence a High or a Low. These are resting points. Volatile Markets are the result of an inbalance in both Time and Price.

 

 

SO YOU SEE FA TRADERS:  You do all the work for us we just read between the lines. YOU spend hours researching this and that so that you can create a Support and a Resistance line that repeats sometime for weeks, sometimes for months and even for years. So thank you FA traders for all your hard work we TA traders just need to spend a few minutes interpreting your HARD WORK to make a trade.

 

Woody