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Answer Upon - Forex Secret - Enter To Trade Using Slanted Channels At Forex Market - Part I
I think most of will agree that television is the most influential Marketing tool ever created. The average family in the U.S Has 2 T.V in their home. With about 30 million Canadians and 270 million Americans that’s 300 million people. Let’s say that Of those people may be interested in an home based mlm business. That’s about 150 million households. When was the last time youn Watched television? Maybe in the last 48 hours. Most people can’t Justify doing a business opportunity presentation on T.V buying Air time.So why not do the next best Thing? Well that what I did. I went down to my copy center And talked with the manager. I set up my own business opportunity T.V broadcast on their T.V video-conferencing facility. With an 30 sec spot I generate about 200 real time mlm leads for me to work with. The price is fifty percent discounted on the weekend. Well that’s exactly the time I wanted to do a business opportunity presentation. To generate so great mlm lead to call for my business. We set up business opportunity presentations at 11a.m. Pacific time o Sunday. I broadcast this out to my organization and they became very excited about testing this concept. We all know it’s very difficult sometimes to get a guest to actually show up at a live hotel seminar. This program lasted one hour of which the first 10 minutes was a video broadcast to all of the store locations. In other words I would broadcast to all of the different copy locations from San Diego. Each of the locations watched the video for about 10 minutes about the company I’m promoting which was generating more mlm lead for me that I could handle. At 10:10 the videos were stopped and my presentation began. Kinko’s also has overhead projectors where I placed my overheads on the projector while I talked and each of the different locations were able to see the overheads. My presentation lasted 30 minutes at which time I go over the mlm leads application sign up process using the overhead and show each mlm lead how to get started that same day. We then opened the conference up for questions. In other words, in our first conference I broadcast to 14 locations throughout the U.S my copy center doesn’t have that many locations in Canada. But we’re working on that.Each of the locations were able to remove the mute button, when instructed and ask questions. Since the system is voice
b). (++) is the signal of moderate intensity. It is the confirmation at the level of “A”-line. It is a temperate position for opening a deal, directed downward
c). (+) designates a weak signal for breaking through a slanted channel against the channel in force. Judging by the chart, it is to be specified that one talks about the breaking through two levels of resistance against the trend descending initially. The position is to be opened “after two confirmations”. There occurs the 1st confirmation at the level of “A”-line. One can find the 2nd confirmation at the level of “B”-line. However, this position is weak. It is better to receive other confirmations
E. Neiman does not dwell on points of closing deals.
Criticism of E. Neiman’s technique of opening/closing deals in slanted channels.
One must again look attentively at the D1 Chart 2.14 from the book by E. Neiman.
1. Only in the left corner of the chart one can see intensive signals (+++), which is a good position for breaking through the channel upper level along the trend. Thus, making use of Neiman’s technique, a trader misses the whole (!) trend. The trader must stay out of the market to start from half of a year and up to the year (see Chart D1).
2. In all the three cases, intensive signals (+++) for breaking through the trend have resulted in the false breaking through. After this, there has taken place a spurt from the left part of the chart towards the opposite direction.
3. That is, to beginners E. Neiman recommends opening deals where they always open such deals – i.e., at the end of the movement, directly before the correction and reversal.
4. The reader should try to answer the following question. Why does not E. Neiman write about points of closing deals?
5. As well as J. Murphy, E. Neiman does not submit clear criteria of difference between a true breaking through slanted channels by currency pairs and the false one. To be more precise, E. Neiman regards all false breakings through slanted channels as true ones.
In this connection, E. Neiman himself gives the following explanations.
There are the following contradictions in trend lines and models
· Contradictions in the direction of the trend in force and the direction prognosticated in the course of the analysis (such contradictions are especially important under the condition of the trend reversal).
· Trend lines and models, developed in different time intervals, can also yield contradictive conclusions. For instance, a weekly trend can indicate itself as “bull” trend, while the daily trend can indicate itself as “bear” trend.
· When facing any of the above-described contradictions, it is better not to make deals at all and to wait till clarification of the situation.
Concluding this paragraph, it is worthwhile to mention one of the most important rules of analyzing trend lines and models.
One must not look for trend figures where they are absent. Don’t give vent to your fantasy.
Issuing from Neiman’s statements, one can make the fo
A website is a collection of information. It can contain text, pictures, flash animation, and who can tell what else in the future. It is now an accepted standard in the business realm to develop and maintain a website. Web sites make available 24/7 contact and sales ability with customers worldwide. An individual website may be compared to a book, each page of the site being as a page in a book.Websites range from very basic text representations, to sites with thousands of graphically perplexing pages. When you find yourself in the market to have website developed, there are many topics to consider. Here are some of the most common and important:- The site’s design should be determined by its content/topics. - The information presented on the site should be relevant; it should target the element of the public that the website is concerned with. - User-friendliness is key. The navigation and the interface should be simple, quick-loading and reliable. - The appearance of the site should be consistent from page to page. This is marketing and you need to imprint onto the potential consumer’s brain. - Most people are visiting a website for information. Therefore, do no make the information on your site hard to find. - An invisible site is as good as no site at all. You have to engage in techniques to make your website visible to the general public, i.e. search engine optimization (SEO).Many people find the technical knowledge and time needed to develop their own websites far too daunting to embark in. They need professional assistance. That’s why there are website developers in the world. Dolphin Promotion is a website development professional web-based company in Blackpool, England. They are there to handle all of the technical issues for you so that you can continue to concentrate on your own business.Designing the website, while very important is just one step in the road to enhancing one’s business through the use of a website. In a nutshell, you have to get “ranked” on the major search engines. 86% of all web traffic is created by visitors searching for information on search engines like Google. This promotion (SEO) is of optimal importance and is also a specialty of Dolphin Promotion.
1. The work inside the slanted channel (recoil from the slanted channel level).
2. The work on breaking through the slanted channel level. In its turn, it includes the following aspects.
a). One can work along the trend – i.e., under the condition of the ascending trend, it is the breakout through the upper slanted channel (the level of resistance). Naturally, under the condition of the descending trend, the situation is reverse.
b). One can work against the trend – i.e., under the condition of the ascending trend, it is the breakout through the lowest slanted channel (the level of support). Naturally, under the condition of the descending trend, the situation is reverse.
The scheme of presenting the materials is the following.
1. We will examine the points of opening and closing deals in slanted channels as this subject is submitted by the classicists of Forex – J. Murphy, E. Neiman, T. DeMark, Swagger, etc.
2. We will criticize these techniques. It will be explained why a trader can lose his deposit when working strictly according to advices given by J. Murphy, E. Neiman, T. DeMark, Swagger, etc.
3. It is necessary to find out the sound decision to these problems for detecting proper points of opening and closing deals in slanted channels according to Masterforex-V Trading System.
Points of opening and closing deals in slanted channels according to J. Murphy
In his “Technical analysis of future markets: theory and practice”, J. Murphy recommends for opening deals in slanted channels to start from the 3rd (!) recoil towards the direction of the trend in force.
J. Murphy considers that the trend line can be successfully used in solving a series of problems - when the third point is detected and the tendency type is determined. As regards this tendency, one of the basic principles is the following. The tendency under development is tending to continuer its movement. Consequently, as soon as the tendency takes a certain tempo and the trend line takes up position at a certain angle, as a rule, this angle is remaining the same during the tendency further development. Under these conditions, the trend line does permit determining corrective phase extremes. And what is more important, the trend line can indicate possible changes in the tendency.
Let us suppose that we deal with an ascending tendency. In this case, corrective (or intermediate) recessions either approach the ascending trend line very close or even touch it. Under the condition of an ascending trend, the future trader is planning to buy at recessions. Therefore, the trend line plays the role of the support edge (limit) below the market. This border can be used as a zone of “buy” (purchase). If the tendency is descending, the trend line can be used as a level of resistance for “sell”.
Until there does not occur a radical turn in the trend line dynamics, the trend line can serve for detecting “buy” or “sell” zones. However, in Charts 4.7a and 4.7b (see below), at the point #9 such turn does take place. It is the signal for liquidating all positions opened towards the previous tendency direction. Often the breaking through the trend line is the first evidence of a radical turn in the tendency type.
Chart 4.7a. (For view the picture see notes in end of article)
As soon as the trend ascending line is established (fixed), one can use the subsequent recessions, which reach the trend line, as zones of “buy”. In this chart, the points ##5 and 7 can serve for opening new positions - or subsidiary long ones. The trend line breaking at the point #9 indicates a cardinal change in the tendency character – probably, the tendency has become descending. Consequently, at the point #9 all long positions must be liquidated.
Chart 4.7b (For view the picture see notes in end of article)
The points ##5 and 7 can be used as zones of “sell”. The trend line breaking (the point #9) testifies the possibility of the tendency turn towards the ascendance.
Criticism of J. Murphy’s technique of opening/closing deals in slanted channels
J. Murphy recommends closing all long positions when the slanted channel level is broken through. However, this author has not explained the following aspect:
What is the difference between the false and true breaking through slanted channels?
In order to understand why a trader who works according to J. Murphy’s technique will lose his deposit for sure, one must look at Chart 2.14, copied from the book by E. Neiman. That is, there occur false breakouts not only at the encircled point but also to the left and right of it.
Chart 2.14 (For view the picture see notes in end of article)
Losses will be inevitable if one works in this channel according to J. Murphy’s technique. J. Murphy’s erroneous advices are the following.
1. One must open a deal only starting from the 3rd point of contact – i.e., the recoil towards the trend in force. To the left from the circle, there were three touches. Did J. Murphy imply these contacts when he recommended opening deals to start from the 3rd recoil? Probably, one can regard these three recoils as a single touch. Hence, what’s about the 3rd contact? That is, where is the recoil from the level of support in the ascending slanted channel?
2. In this chart, the recoil from the channel lowest border (the point of the deal opening) differs from the breaking through the channel lowest border. Under the condition of the breaking through the lowest border, J. Murphy recommends closing all positions. For instance, I have detected 7(!) breakings through the slanted channel lowest border. Notwithstanding J. Murphy recommendations to close all positions, the currency is keeping on moving along the ascending trend.
3. Why does J. Murphy recommend closing the positions after breaking through the slanted channel lowest border in the case of the ascending trend? Probably, it would be more reasonable to close deals in the vicinity to the ascending channel upper border. However, the problem is the following. J. Murphy designates the trend ascending channel just with one line. That is, according to his theory of the trend channel, the ascending trend upper border does not exist (the picture of the channel corridor is copied from the book by E. Neiman).
4. J. Murphy advices are in evident contradiction with Elliot’s theory. According to the latter, the 3rd point of the trend recoil is the trend 5th wave – i.e., the point where begins the market backward movement.
Taking all these specificities into account, it would be amazing to notice the importance attached by J. Murphy to the 3rd check point in the slanted channel.
After detection of the 3rd point and determination of the tendency character, the trader can successfully use the trend line in solving a series of problems. One of the tendency basic principles is the following. A tendency under development is tending towards continuing its movement. However, at the same very page in his book, J. Murphy presents a chart that cardinally refutes his own statements.
In Charts 4.7a and 4.7b, at the point #9 such a turn does occur. It is a signal for liquidating all positions opened towards the previous tendency direction.
For pity, J. Murphy does not explain either these contradictions or the ones enumerated below.
1. As regards a point in the chart, he writes that all positions opened towards the previous tendency must be liquidated. However, further he writes about the same point that long positions must be closed.
2. Why should one at first close long positions and then short ones?
3. Was a long position opened at the point #5 (the 3rd point in the slanted channel)?
4. What does the following phrase mean: the point #9 testifies the possibility of the turn in tendency? That is, one implies the turn or the possibility of the turn. This aspect is very important for the trader. Is it worthwhile to keep short deals open? Must one close all deals and remain out of the market? Otherwise, maybe one should open new deals towards the new trend possible development.
5. What is the difference between the point #9, where all positions must be liquidated, and the false breaking through the level? One must compare the charts 2.14 and 4.9 from the books by E. Neiman and J. Murphy, respectively. Sometimes there occurs the breaking through the trend line several times within one day (see the chart 4.9). This confronts analysts with the dilemma. Must one preserve the initial trend line if it is still correct? Or is it better to draw a new line? A compromise may be possible. A new dotted line is drawn, the trend initial line being preserved. Later on one will see which of the lines is more correct.
6. The most unexpected aspect is the following. J. Murphy confesses that he does not know the difference between the true and false breakings through the slanted channel.
J. Murphy is not sure what one must do with insufficient breakings through the trend line. He mentions that prices can break through the trend line during a day. However, at the moment of closing the initial pattern becomes developed again. Consequently, an analyst cannot be sure whether the breaking has really happened (see Chart 4.9). Must the trend new line be drawn with taking into account new data – under the condition that the trend line small disturbance is evidently of the temporal or occasional nature? In Chart 4.9, this situation is depicted. During the day prices “fell below” the trend ascending line. However, at the moment of trading closing they were above this line again. Is it necessary to draw the trend line anew? For pity, there is no unequivocal answer that could fit for all cases. Sometimes the breaking can be neglected – especially if the market further movement confirms that the trend initial line was true. As it is already mentioned above, sometimes a kind of compromise is required. An analyst can make use of two trend lines simultaneously: the trend initial line (the solid one) and the trend new line (the dotted one). There can develop the following situation. The trend line breaking can be relatively insubstantial and occur just within a day. If at the moment of closing the prices have reached a value above the trend line again, the analyst can neglect this breaking. The use still can be made of the trend initial line. As well as in many other areas of the market analysis, best of all is to rely on the experience and intuition. In many doubtful situations, they are the best advisers.
Comments. J. Murphy has become confused when dealing with slanted channel breakings. Respectively, he cannot explain the problem to readers. Really, what does it mean “one can neglect this breaking – especially if the market further movement confirms that the trend initial line is true? At the same time, one must liquidate all long positions at the point #9 in Chart 4.7a.
E. Neiman considers the breaking through the slanted channel levels along the trend to be the most powerful signal for the deal opening (In the case of the trend ascending channel, it is the breaking through the upper slanted level. Respectively, in the case of the trend descending channel, it is the breaking through the lower slanted level).
Let us trace the consequences of this approach in the real trade.
E. Neiman explains the essence of his technique in the following way. The technique of giving analysis to lines of resistance and support helps traders to follow changes in the tendency – i.e., its reversal or intensification. These levels are especially important for installing protective stop-orders.
The people’ memory is an important factor in making use of these. For instance, a trader can remember that recently the price turned from a level of support and went upward. Hence, for him it is perfectly legitimate to make a deal on ‘buy’ at this very level the next time. On the contrary, the trader can remember that the price turned from a level of resistance and went downward. Consequently, it is mostly probable that the next time the trader will make a deal on “sell” at this very level.
Chart 2.4.2. Trend lines drawn along minimum prices (lines of support). (For view the picture see notes in end of article)
Thus, Neiman states the following.
a). (+++) denotes the intensive signal. It is a good position for breaking through the channel level along the trend (opening a deal, directed downward).
b). (++) is the signal of moderate intensity. It is the confirmation at the level of “A”-line. It is a temperate position for opening a deal, directed downward
c). (+) designates a weak signal for breaking through a slanted channel against the channel in force. Judging by the chart, it is to be specified that one talks about the breaking through two levels of resistance against the trend descending initially. The position is to be opened “after two confirmations”. There occurs the 1st confirmation at the level of “A”-line. One can find the 2nd confirmation at the level of “B”-line. However, this position is weak. It is better to receive other confirmations
E. Neiman does not dwell on points of closing deals.
Criticism of E. Neiman’s technique of opening/closing deals in slanted channels.
One must again look attentively at the D1 Chart 2.14 from the book by E. Neiman.
1. Only in the left corner of the chart one can see intensive signals (+++), which is a good position for breaking through the channel upper level along the trend. Thus, making use of Neiman’s technique, a trader misses the whole (!) trend. The trader must stay out of the market to start from half of a year and up to the year (see Chart D1).
2. In all the three cases, intensive signals (+++) for breaking through the trend have resulted in the false breaking through. After this, there has taken place a spurt from the left part of the chart towards the opposite direction.
3. That is, to beginners E. Neiman recommends opening deals where they always open such deals – i.e., at the end of the movement, directly before the correction and reversal.
4. The reader should try to answer the following question. Why does not E. Neiman write about points of closing deals?
5. As well as J. Murphy, E. Neiman does not submit clear criteria of difference between a true breaking through slanted channels by currency pairs and the false one. To be more precise, E. Neiman regards all false breakings through slanted channels as true ones.
In this connection, E. Neiman himself gives the following explanations.
There are the following contradictions in trend lines and models
· Contradictions in the direction of the trend in force and the direction prognosticated in the course of the analysis (such contradictions are especially important under the condition of the trend reversal).
· Trend lines and models, developed in different time intervals, can also yield contradictive conclusions. For instance, a weekly trend can indicate itself as “bull” trend, while the daily trend can indicate itself as “bear” trend.
· When facing any of the above-described contradictions, it is better not to make deals at all and to wait till clarification of the situation.
Concluding this paragraph, it is worthwhile to mention one of the most important rules of analyzing trend lines and models.
One must not look for trend figures where they are absent. Don’t give vent to your fantasy.
Issuing from Neiman’s statements, one can make the fol
Conventional wisdom points toward customer satisfaction surveys as the best way to pinpoint what specifically draws the customer back or pushes them away. Long relied upon to explain a customer’s flitting from one company to another in search of the best experience, these surveys fall short of explaining the customer replies that pertain to the trust and respect of your employees.Studies have shown that there is a direct link between satisfied employees and happy customers, so it makes good business sense to invest in discovering what your employees need to stay loyal and satisfied. This creates an environment of positive, helpful people ready to bend over backwards for the customer. The use of employee opinion surveys along with customer surveys gives a great overall picture of a company’s strengths and weaknesses and provides a blue print for developing a strong culture of loyal employees and customers.What does having satisfied employees have to do with retaining customers? It has everything to do with losing developed or developing relationships, the reason behind almost every return customer. Companies who pay attention to their surveyed employees end up with a much lower turnover rate, which by itself saves them millions of dollars every year in rehiring costs as well as in lost customers. Seems outrageous, doesn’t it? Surely that lack of retention can’t possibly cost so much!On average, though, the loss of one dissatisfied employee will result in about 150% of his or her yearly salary between advertising for a replacement, training the new person, lost productivity, and overtime of others to compensate while waiting for the new employee to get up to speed. When the lost employee is management, the number increases to closer to 200%. This isn’t even taking into consideration the loss of valuable knowledge and insight provided to the customer by the employee! No amount of training will replace the knowledge that comes from doing the job every day.From the customer perspective, this lack of turnover means a more stable, responsive team to address their needs and concerns, something that those surveyed worry about. Customer loyalty, like employee loyalty, stems from a strong interpersonal connection to a common goal. They want to know who they’ll be dealing with when they pick up the phone or send an email. Merry-G
Chart 4.7a. (For view the picture see notes in end of article)
As soon as the trend ascending line is established (fixed), one can use the subsequent recessions, which reach the trend line, as zones of “buy”. In this chart, the points ##5 and 7 can serve for opening new positions - or subsidiary long ones. The trend line breaking at the point #9 indicates a cardinal change in the tendency character – probably, the tendency has become descending. Consequently, at the point #9 all long positions must be liquidated.
Chart 4.7b (For view the picture see notes in end of article)
The points ##5 and 7 can be used as zones of “sell”. The trend line breaking (the point #9) testifies the possibility of the tendency turn towards the ascendance.
Criticism of J. Murphy’s technique of opening/closing deals in slanted channels
J. Murphy recommends closing all long positions when the slanted channel level is broken through. However, this author has not explained the following aspect:
What is the difference between the false and true breaking through slanted channels?
In order to understand why a trader who works according to J. Murphy’s technique will lose his deposit for sure, one must look at Chart 2.14, copied from the book by E. Neiman. That is, there occur false breakouts not only at the encircled point but also to the left and right of it.
Chart 2.14 (For view the picture see notes in end of article)
Losses will be inevitable if one works in this channel according to J. Murphy’s technique. J. Murphy’s erroneous advices are the following.
1. One must open a deal only starting from the 3rd point of contact – i.e., the recoil towards the trend in force. To the left from the circle, there were three touches. Did J. Murphy imply these contacts when he recommended opening deals to start from the 3rd recoil? Probably, one can regard these three recoils as a single touch. Hence, what’s about the 3rd contact? That is, where is the recoil from the level of support in the ascending slanted channel?
2. In this chart, the recoil from the channel lowest border (the point of the deal opening) differs from the breaking through the channel lowest border. Under the condition of the breaking through the lowest border, J. Murphy recommends closing all positions. For instance, I have detected 7(!) breakings through the slanted channel lowest border. Notwithstanding J. Murphy recommendations to close all positions, the currency is keeping on moving along the ascending trend.
3. Why does J. Murphy recommend closing the positions after breaking through the slanted channel lowest border in the case of the ascending trend? Probably, it would be more reasonable to close deals in the vicinity to the ascending channel upper border. However, the problem is the following. J. Murphy designates the trend ascending channel just with one line. That is, according to his theory of the trend channel, the ascending trend upper border does not exist (the picture of the channel corridor is copied from the book by E. Neiman).
4. J. Murphy advices are in evident contradiction with Elliot’s theory. According to the latter, the 3rd point of the trend recoil is the trend 5th wave – i.e., the point where begins the market backward movement.
Taking all these specificities into account, it would be amazing to notice the importance attached by J. Murphy to the 3rd check point in the slanted channel.
After detection of the 3rd point and determination of the tendency character, the trader can successfully use the trend line in solving a series of problems. One of the tendency basic principles is the following. A tendency under development is tending towards continuing its movement. However, at the same very page in his book, J. Murphy presents a chart that cardinally refutes his own statements.
In Charts 4.7a and 4.7b, at the point #9 such a turn does occur. It is a signal for liquidating all positions opened towards the previous tendency direction.
For pity, J. Murphy does not explain either these contradictions or the ones enumerated below.
1. As regards a point in the chart, he writes that all positions opened towards the previous tendency must be liquidated. However, further he writes about the same point that long positions must be closed.
2. Why should one at first close long positions and then short ones?
3. Was a long position opened at the point #5 (the 3rd point in the slanted channel)?
4. What does the following phrase mean: the point #9 testifies the possibility of the turn in tendency? That is, one implies the turn or the possibility of the turn. This aspect is very important for the trader. Is it worthwhile to keep short deals open? Must one close all deals and remain out of the market? Otherwise, maybe one should open new deals towards the new trend possible development.
5. What is the difference between the point #9, where all positions must be liquidated, and the false breaking through the level? One must compare the charts 2.14 and 4.9 from the books by E. Neiman and J. Murphy, respectively. Sometimes there occurs the breaking through the trend line several times within one day (see the chart 4.9). This confronts analysts with the dilemma. Must one preserve the initial trend line if it is still correct? Or is it better to draw a new line? A compromise may be possible. A new dotted line is drawn, the trend initial line being preserved. Later on one will see which of the lines is more correct.
6. The most unexpected aspect is the following. J. Murphy confesses that he does not know the difference between the true and false breakings through the slanted channel.
J. Murphy is not sure what one must do with insufficient breakings through the trend line. He mentions that prices can break through the trend line during a day. However, at the moment of closing the initial pattern becomes developed again. Consequently, an analyst cannot be sure whether the breaking has really happened (see Chart 4.9). Must the trend new line be drawn with taking into account new data – under the condition that the trend line small disturbance is evidently of the temporal or occasional nature? In Chart 4.9, this situation is depicted. During the day prices “fell below” the trend ascending line. However, at the moment of trading closing they were above this line again. Is it necessary to draw the trend line anew? For pity, there is no unequivocal answer that could fit for all cases. Sometimes the breaking can be neglected – especially if the market further movement confirms that the trend initial line was true. As it is already mentioned above, sometimes a kind of compromise is required. An analyst can make use of two trend lines simultaneously: the trend initial line (the solid one) and the trend new line (the dotted one). There can develop the following situation. The trend line breaking can be relatively insubstantial and occur just within a day. If at the moment of closing the prices have reached a value above the trend line again, the analyst can neglect this breaking. The use still can be made of the trend initial line. As well as in many other areas of the market analysis, best of all is to rely on the experience and intuition. In many doubtful situations, they are the best advisers.
Comments. J. Murphy has become confused when dealing with slanted channel breakings. Respectively, he cannot explain the problem to readers. Really, what does it mean “one can neglect this breaking – especially if the market further movement confirms that the trend initial line is true? At the same time, one must liquidate all long positions at the point #9 in Chart 4.7a.
E. Neiman considers the breaking through the slanted channel levels along the trend to be the most powerful signal for the deal opening (In the case of the trend ascending channel, it is the breaking through the upper slanted level. Respectively, in the case of the trend descending channel, it is the breaking through the lower slanted level).
Let us trace the consequences of this approach in the real trade.
E. Neiman explains the essence of his technique in the following way. The technique of giving analysis to lines of resistance and support helps traders to follow changes in the tendency – i.e., its reversal or intensification. These levels are especially important for installing protective stop-orders.
The people’ memory is an important factor in making use of these. For instance, a trader can remember that recently the price turned from a level of support and went upward. Hence, for him it is perfectly legitimate to make a deal on ‘buy’ at this very level the next time. On the contrary, the trader can remember that the price turned from a level of resistance and went downward. Consequently, it is mostly probable that the next time the trader will make a deal on “sell” at this very level.
Chart 2.4.2. Trend lines drawn along minimum prices (lines of support). (For view the picture see notes in end of article)
Thus, Neiman states the following.
a). (+++) denotes the intensive signal. It is a good position for breaking through the channel level along the trend (opening a deal, directed downward).
b). (++) is the signal of moderate intensity. It is the confirmation at the level of “A”-line. It is a temperate position for opening a deal, directed downward
c). (+) designates a weak signal for breaking through a slanted channel against the channel in force. Judging by the chart, it is to be specified that one talks about the breaking through two levels of resistance against the trend descending initially. The position is to be opened “after two confirmations”. There occurs the 1st confirmation at the level of “A”-line. One can find the 2nd confirmation at the level of “B”-line. However, this position is weak. It is better to receive other confirmations
E. Neiman does not dwell on points of closing deals.
Criticism of E. Neiman’s technique of opening/closing deals in slanted channels.
One must again look attentively at the D1 Chart 2.14 from the book by E. Neiman.
1. Only in the left corner of the chart one can see intensive signals (+++), which is a good position for breaking through the channel upper level along the trend. Thus, making use of Neiman’s technique, a trader misses the whole (!) trend. The trader must stay out of the market to start from half of a year and up to the year (see Chart D1).
2. In all the three cases, intensive signals (+++) for breaking through the trend have resulted in the false breaking through. After this, there has taken place a spurt from the left part of the chart towards the opposite direction.
3. That is, to beginners E. Neiman recommends opening deals where they always open such deals – i.e., at the end of the movement, directly before the correction and reversal.
4. The reader should try to answer the following question. Why does not E. Neiman write about points of closing deals?
5. As well as J. Murphy, E. Neiman does not submit clear criteria of difference between a true breaking through slanted channels by currency pairs and the false one. To be more precise, E. Neiman regards all false breakings through slanted channels as true ones.
In this connection, E. Neiman himself gives the following explanations.
There are the following contradictions in trend lines and models
· Contradictions in the direction of the trend in force and the direction prognosticated in the course of the analysis (such contradictions are especially important under the condition of the trend reversal).
· Trend lines and models, developed in different time intervals, can also yield contradictive conclusions. For instance, a weekly trend can indicate itself as “bull” trend, while the daily trend can indicate itself as “bear” trend.
· When facing any of the above-described contradictions, it is better not to make deals at all and to wait till clarification of the situation.
Concluding this paragraph, it is worthwhile to mention one of the most important rules of analyzing trend lines and models.
One must not look for trend figures where they are absent. Don’t give vent to your fantasy.
Issuing from Neiman’s statements, one can make the fo
Design is a very subjective thing, therefore, if you ask me how to come up with a first class design for your marketing collateral or publishing mediums, it would be very unfair for me or anyone else to tell you what is a good design and what is a bad design. But there are certain elements and principles that we should look for in a design to determine whether the design and layout of the material will be able to carry the message across effectively to the readers and your potential market. The main aim of every design material related to advertising or promotion is either to sell something, promote something or brand a company.Keep the design and layout simple and clean The more cluttered or messy the layout and design is for your marketing collateral, the harder it would be for your customers to find the important stuff. So, don’t overcrowd the design of your marketing materials. First and foremost, it should be kept clean and very simple. Yes, we all want to fit as much information as we can into the design but hey, keep the purpose of the design of the marketing stuff in mind. You want to design a novel or design something that sells.Design Colors If you have a set of corporate colors (like the colors that you use on your logo, letterhead, envelopes…etc), keep to the same colors in your design. You should present a very simplistic, unique, corporate, professional, consistent image, not a haphazard one. How can anyone rely on you when you have that kind of image, right? It’s best that you not use too many colors for your design. And another important point about designing marketing materials is this; avoid using all the colors of the rainbow in one design! You’re not trying to confuse your customers, you’re trying to make it easy for them to find information, attract them and urge them to buy something from you! I would say using 2 or 3 main colors from your corporate color for the design is good enough.Fonts There are tons of free fonts (quite incredibly attractive ones at that) that you can find off the Internet for the design of your marketing stuff – but the sad news is that it’s not always possible to use all of them. Keep to one single font for the content in your design, and if you wish to, you can use a different (a bolder and louder font) for the headings and titles in your design.
4. J. Murphy advices are in evident contradiction with Elliot’s theory. According to the latter, the 3rd point of the trend recoil is the trend 5th wave – i.e., the point where begins the market backward movement.
Taking all these specificities into account, it would be amazing to notice the importance attached by J. Murphy to the 3rd check point in the slanted channel.
After detection of the 3rd point and determination of the tendency character, the trader can successfully use the trend line in solving a series of problems. One of the tendency basic principles is the following. A tendency under development is tending towards continuing its movement. However, at the same very page in his book, J. Murphy presents a chart that cardinally refutes his own statements.
In Charts 4.7a and 4.7b, at the point #9 such a turn does occur. It is a signal for liquidating all positions opened towards the previous tendency direction.
For pity, J. Murphy does not explain either these contradictions or the ones enumerated below.
1. As regards a point in the chart, he writes that all positions opened towards the previous tendency must be liquidated. However, further he writes about the same point that long positions must be closed.
2. Why should one at first close long positions and then short ones?
3. Was a long position opened at the point #5 (the 3rd point in the slanted channel)?
4. What does the following phrase mean: the point #9 testifies the possibility of the turn in tendency? That is, one implies the turn or the possibility of the turn. This aspect is very important for the trader. Is it worthwhile to keep short deals open? Must one close all deals and remain out of the market? Otherwise, maybe one should open new deals towards the new trend possible development.
5. What is the difference between the point #9, where all positions must be liquidated, and the false breaking through the level? One must compare the charts 2.14 and 4.9 from the books by E. Neiman and J. Murphy, respectively. Sometimes there occurs the breaking through the trend line several times within one day (see the chart 4.9). This confronts analysts with the dilemma. Must one preserve the initial trend line if it is still correct? Or is it better to draw a new line? A compromise may be possible. A new dotted line is drawn, the trend initial line being preserved. Later on one will see which of the lines is more correct.
6. The most unexpected aspect is the following. J. Murphy confesses that he does not know the difference between the true and false breakings through the slanted channel.
J. Murphy is not sure what one must do with insufficient breakings through the trend line. He mentions that prices can break through the trend line during a day. However, at the moment of closing the initial pattern becomes developed again. Consequently, an analyst cannot be sure whether the breaking has really happened (see Chart 4.9). Must the trend new line be drawn with taking into account new data – under the condition that the trend line small disturbance is evidently of the temporal or occasional nature? In Chart 4.9, this situation is depicted. During the day prices “fell below” the trend ascending line. However, at the moment of trading closing they were above this line again. Is it necessary to draw the trend line anew? For pity, there is no unequivocal answer that could fit for all cases. Sometimes the breaking can be neglected – especially if the market further movement confirms that the trend initial line was true. As it is already mentioned above, sometimes a kind of compromise is required. An analyst can make use of two trend lines simultaneously: the trend initial line (the solid one) and the trend new line (the dotted one). There can develop the following situation. The trend line breaking can be relatively insubstantial and occur just within a day. If at the moment of closing the prices have reached a value above the trend line again, the analyst can neglect this breaking. The use still can be made of the trend initial line. As well as in many other areas of the market analysis, best of all is to rely on the experience and intuition. In many doubtful situations, they are the best advisers.
Comments. J. Murphy has become confused when dealing with slanted channel breakings. Respectively, he cannot explain the problem to readers. Really, what does it mean “one can neglect this breaking – especially if the market further movement confirms that the trend initial line is true? At the same time, one must liquidate all long positions at the point #9 in Chart 4.7a.
E. Neiman considers the breaking through the slanted channel levels along the trend to be the most powerful signal for the deal opening (In the case of the trend ascending channel, it is the breaking through the upper slanted level. Respectively, in the case of the trend descending channel, it is the breaking through the lower slanted level).
Let us trace the consequences of this approach in the real trade.
E. Neiman explains the essence of his technique in the following way. The technique of giving analysis to lines of resistance and support helps traders to follow changes in the tendency – i.e., its reversal or intensification. These levels are especially important for installing protective stop-orders.
The people’ memory is an important factor in making use of these. For instance, a trader can remember that recently the price turned from a level of support and went upward. Hence, for him it is perfectly legitimate to make a deal on ‘buy’ at this very level the next time. On the contrary, the trader can remember that the price turned from a level of resistance and went downward. Consequently, it is mostly probable that the next time the trader will make a deal on “sell” at this very level.
Chart 2.4.2. Trend lines drawn along minimum prices (lines of support). (For view the picture see notes in end of article)
Thus, Neiman states the following.
a). (+++) denotes the intensive signal. It is a good position for breaking through the channel level along the trend (opening a deal, directed downward).
b). (++) is the signal of moderate intensity. It is the confirmation at the level of “A”-line. It is a temperate position for opening a deal, directed downward
c). (+) designates a weak signal for breaking through a slanted channel against the channel in force. Judging by the chart, it is to be specified that one talks about the breaking through two levels of resistance against the trend descending initially. The position is to be opened “after two confirmations”. There occurs the 1st confirmation at the level of “A”-line. One can find the 2nd confirmation at the level of “B”-line. However, this position is weak. It is better to receive other confirmations
E. Neiman does not dwell on points of closing deals.
Criticism of E. Neiman’s technique of opening/closing deals in slanted channels.
One must again look attentively at the D1 Chart 2.14 from the book by E. Neiman.
1. Only in the left corner of the chart one can see intensive signals (+++), which is a good position for breaking through the channel upper level along the trend. Thus, making use of Neiman’s technique, a trader misses the whole (!) trend. The trader must stay out of the market to start from half of a year and up to the year (see Chart D1).
2. In all the three cases, intensive signals (+++) for breaking through the trend have resulted in the false breaking through. After this, there has taken place a spurt from the left part of the chart towards the opposite direction.
3. That is, to beginners E. Neiman recommends opening deals where they always open such deals – i.e., at the end of the movement, directly before the correction and reversal.
4. The reader should try to answer the following question. Why does not E. Neiman write about points of closing deals?
5. As well as J. Murphy, E. Neiman does not submit clear criteria of difference between a true breaking through slanted channels by currency pairs and the false one. To be more precise, E. Neiman regards all false breakings through slanted channels as true ones.
In this connection, E. Neiman himself gives the following explanations.
There are the following contradictions in trend lines and models
· Contradictions in the direction of the trend in force and the direction prognosticated in the course of the analysis (such contradictions are especially important under the condition of the trend reversal).
· Trend lines and models, developed in different time intervals, can also yield contradictive conclusions. For instance, a weekly trend can indicate itself as “bull” trend, while the daily trend can indicate itself as “bear” trend.
· When facing any of the above-described contradictions, it is better not to make deals at all and to wait till clarification of the situation.
Concluding this paragraph, it is worthwhile to mention one of the most important rules of analyzing trend lines and models.
One must not look for trend figures where they are absent. Don’t give vent to your fantasy.
Issuing from Neiman’s statements, one can make the fo
Did you know that in 2002, an estimated 32% of Internet users were non-English speakers? With the phenomenal growth of computer usage and the spread of the net fever, especially in the third world countries, the figure would have multiplied manifold in the past 4 years.In fact, the Internet is fast becoming the basic and fundamental source and dissemination of information, purchases of goods and services worldwide. In addition, those computer and Internet users are increasingly from non-English speaking countries. This figure is constantly rising. In response, businesses have quickly become aware of the benefits of making their websites relevant to the native languages of the target audience.Marketing is all about speaking the customers’ languageThere is no denying that the rest of the world outside of English-speaking countries is coming online faster than never before. What is the state of affairs, and how does that impact businesses worldwide? How serious is the impact of everyone "going global"? And, more importantly, what needs to be done with our Websites to fully take advantage of this wave of non-English-speaking people coming online?Whether or not a person speaks English has really nothing to do with the responsibility of a Website to communicate in the language of the target markets. Indians read English just fine, and yet they feel comfortable to surf in their own language. They live their life in their own language, not in English. If you want to attract their attention, your site has to go where they are, and speak to them in their own language.Outside the seven countries where English is native, and India too, there is no form of marketing in any country that happens in English. If someone doesn't believe this, they should visit Europe, Asia or South America. People live their life in their own language, and your marketing better follow, whether the media is newspaper/magazine ads/articles, radio/TV, billboards... or Websites.Enter Website TranslationTranslating a Website is a viable answer because you then make an existing website accessible, usable and culturally suitable to your specific target audience. This requires both programming expertise and linguistic/cultural knowledge.In the majority of cases it is the lack of linguistic and cultural input that lets a website localization pro
Comments. J. Murphy has become confused when dealing with slanted channel breakings. Respectively, he cannot explain the problem to readers. Really, what does it mean “one can neglect this breaking – especially if the market further movement confirms that the trend initial line is true? At the same time, one must liquidate all long positions at the point #9 in Chart 4.7a.
E. Neiman considers the breaking through the slanted channel levels along the trend to be the most powerful signal for the deal opening (In the case of the trend ascending channel, it is the breaking through the upper slanted level. Respectively, in the case of the trend descending channel, it is the breaking through the lower slanted level).
Let us trace the consequences of this approach in the real trade.
E. Neiman explains the essence of his technique in the following way. The technique of giving analysis to lines of resistance and support helps traders to follow changes in the tendency – i.e., its reversal or intensification. These levels are especially important for installing protective stop-orders.
The people’ memory is an important factor in making use of these. For instance, a trader can remember that recently the price turned from a level of support and went upward. Hence, for him it is perfectly legitimate to make a deal on ‘buy’ at this very level the next time. On the contrary, the trader can remember that the price turned from a level of resistance and went downward. Consequently, it is mostly probable that the next time the trader will make a deal on “sell” at this very level.
Chart 2.4.2. Trend lines drawn along minimum prices (lines of support). (For view the picture see notes in end of article)
Thus, Neiman states the following.
a). (+++) denotes the intensive signal. It is a good position for breaking through the channel level along the trend (opening a deal, directed downward).
b). (++) is the signal of moderate intensity. It is the confirmation at the level of “A”-line. It is a temperate position for opening a deal, directed downward
c). (+) designates a weak signal for breaking through a slanted channel against the channel in force. Judging by the chart, it is to be specified that one talks about the breaking through two levels of resistance against the trend descending initially. The position is to be opened “after two confirmations”. There occurs the 1st confirmation at the level of “A”-line. One can find the 2nd confirmation at the level of “B”-line. However, this position is weak. It is better to receive other confirmations
E. Neiman does not dwell on points of closing deals.
Criticism of E. Neiman’s technique of opening/closing deals in slanted channels.
One must again look attentively at the D1 Chart 2.14 from the book by E. Neiman.
1. Only in the left corner of the chart one can see intensive signals (+++), which is a good position for breaking through the channel upper level along the trend. Thus, making use of Neiman’s technique, a trader misses the whole (!) trend. The trader must stay out of the market to start from half of a year and up to the year (see Chart D1).
2. In all the three cases, intensive signals (+++) for breaking through the trend have resulted in the false breaking through. After this, there has taken place a spurt from the left part of the chart towards the opposite direction.
3. That is, to beginners E. Neiman recommends opening deals where they always open such deals – i.e., at the end of the movement, directly before the correction and reversal.
4. The reader should try to answer the following question. Why does not E. Neiman write about points of closing deals?
5. As well as J. Murphy, E. Neiman does not submit clear criteria of difference between a true breaking through slanted channels by currency pairs and the false one. To be more precise, E. Neiman regards all false breakings through slanted channels as true ones.
In this connection, E. Neiman himself gives the following explanations.
There are the following contradictions in trend lines and models
· Contradictions in the direction of the trend in force and the direction prognosticated in the course of the analysis (such contradictions are especially important under the condition of the trend reversal).
· Trend lines and models, developed in different time intervals, can also yield contradictive conclusions. For instance, a weekly trend can indicate itself as “bull” trend, while the daily trend can indicate itself as “bear” trend.
· When facing any of the above-described contradictions, it is better not to make deals at all and to wait till clarification of the situation.
Concluding this paragraph, it is worthwhile to mention one of the most important rules of analyzing trend lines and models.
One must not look for trend figures where they are absent. Don’t give vent to your fantasy.
Issuing from Neiman’s statements, one can make the fo
It can happen to anyone. there's a change in the organization and -- suddenly -- you find yourself working for the boss from Hell. Arrogant, demanding, ignorant, bullying and insensitive. Do you leave right away? Do you fight back? Here are some tried and tested ways of coping with impossible bosses -- and coming out on top.1. Find ways to boost your confidenceThis is the single most important indicator of success. Asshole bosses typically work to undermine your self-confidence the whole time. Don't allow this to happen. Recite your strengths back to yourself. Keep notes of accomplishments. Celebrate every success.2. Don't colludeStart looking for the subtle ways you hold yourself back by colluding with the asshole boss. When you find them, stop them at once. It's too easy to accept the negatives and try to avoid pain by selling yourself short. Don't do it -- EVER.3. Establish a "territory" and control entryMake sure you show your job is important. The establishment of a "territory", part physical, part psychological shows others that you see your job as important. Treat it that way yourself and make sure others do so as well. The aim is to make others take you seriously as someone who does something important -- even vital -- to the future of the organization and it's business.4. Be your own advocateDon't explain your ideas to your asshole boss and let him take them to the people who matter. You can be sure he'll imply he thought them up himself and will take all the credit. Make sure you present your own ideas. Try informal meetings at first -- invite a few people (plus your boss) to "help you" with something you're trying to sort out. Make use of opportunities of formal meetings as well. Don't try to undermine or obviously bypass your boss. Just come out with the bones of the idea and make sure people know it's yours. If he tries to stop you, say you were getting feedback before bringing the completed idea to him. You know how busy he is and don't want to waste his time with something that may turn out to be impractical.5. Use informality to let people see your abilityUse informal meetings -- say after work, where people just chat -- to talk casually about your ideas and what you've achieved. If they exist, make a point of going.
b). (++) is the signal of moderate intensity. It is the confirmation at the level of “A”-line. It is a temperate position for opening a deal, directed downward
c). (+) designates a weak signal for breaking through a slanted channel against the channel in force. Judging by the chart, it is to be specified that one talks about the breaking through two levels of resistance against the trend descending initially. The position is to be opened “after two confirmations”. There occurs the 1st confirmation at the level of “A”-line. One can find the 2nd confirmation at the level of “B”-line. However, this position is weak. It is better to receive other confirmations
E. Neiman does not dwell on points of closing deals.
Criticism of E. Neiman’s technique of opening/closing deals in slanted channels.
One must again look attentively at the D1 Chart 2.14 from the book by E. Neiman.
1. Only in the left corner of the chart one can see intensive signals (+++), which is a good position for breaking through the channel upper level along the trend. Thus, making use of Neiman’s technique, a trader misses the whole (!) trend. The trader must stay out of the market to start from half of a year and up to the year (see Chart D1).
2. In all the three cases, intensive signals (+++) for breaking through the trend have resulted in the false breaking through. After this, there has taken place a spurt from the left part of the chart towards the opposite direction.
3. That is, to beginners E. Neiman recommends opening deals where they always open such deals – i.e., at the end of the movement, directly before the correction and reversal.
4. The reader should try to answer the following question. Why does not E. Neiman write about points of closing deals?
5. As well as J. Murphy, E. Neiman does not submit clear criteria of difference between a true breaking through slanted channels by currency pairs and the false one. To be more precise, E. Neiman regards all false breakings through slanted channels as true ones.
In this connection, E. Neiman himself gives the following explanations.
There are the following contradictions in trend lines and models
· Contradictions in the direction of the trend in force and the direction prognosticated in the course of the analysis (such contradictions are especially important under the condition of the trend reversal).
· Trend lines and models, developed in different time intervals, can also yield contradictive conclusions. For instance, a weekly trend can indicate itself as “bull” trend, while the daily trend can indicate itself as “bear” trend.
· When facing any of the above-described contradictions, it is better not to make deals at all and to wait till clarification of the situation.
Concluding this paragraph, it is worthwhile to mention one of the most important rules of analyzing trend lines and models.
One must not look for trend figures where they are absent. Don’t give vent to your fantasy.
Issuing from Neiman’s statements, one can make the following brief conclusions.
· If in future the trend slanted channel will be confirmed, this will confirm “the correctness and importance” of this instrument of giving analysis to Forex.
· If in future the trend slanted channel will not be confirmed, one must not look for trend figures where they are absent.
Thus, one must estimate “the usefulness” of Neiman’s advices concerning trend channels.
· To miss an intensive trend in D1 chart – at least 1000 points as it is depicted in Chart 2.14.
· Simultaneously to manage three times “to catch” stop-losses at intensive signals.
· Finally, one has to listen to “the classicist’s” advice “not to look for trend figures where they are absent and not to indulge one’s fantasy”.
Making use of the slanted channel and oscillator according to Ch. Lebo and D. Lukas
In “Computer analysis of future markets”, Ch. Lebo and D. Lukas state that the secret of the recurring entrance into the market consists in the following. First, one must wait till the end of the temporal correction. As soon as one can understand the principal trend direction, one must buy quickly. Surely, it is too long to wait till there will arise a new peak in the market. However, one must become convinced that the correction is really finished. A sufficient intensity testifies this fact. Here one deals with a point of great nicety. This matter requires careful considerations. Besides, one needs a sensitive and reliable indicator.
One can find a very sensitive indicator of the recurring entrance into the market. For this purpose, it is recommended to use the method of supershort oscillator. For instance, one can take the 3-day relative strength index (RSI) as the recurring entrance starting signal (see Chart 1.7). (For view the picture see notes in end of article)
Thus, Ch. Lebo and D. Lukas submit a method that combines advantages of the two instruments of giving analysis to the market:
1. The slanted channel indicates the trend direction.
2. The oscillator depicts the trend recoil. It is necessary in order to open a deal along the trend issuing from the recoil but not at local peaks (as E. Neiman recommended).
Notwithstanding all the advantages of this method, there is a problem that cannot be solved with the help of the oscillator. Under the condition of the trend recoil, the oscillator does not “distinguish” this reversal from the correction. Consequently, the traders who use oscillators in their work need an additional instrument of the market analysis. This instrument must indicate the trend reversal at the beginning but not at the end of it. Combined with such instrument, the oscillator can be used for the successful measurement of recoils when deals are opened in the opposite direction.
See continuation of this article under name “Forex Secret. Enter to trade using slanted channels at Forex market. (Part II)”
Note: Full text of this article and pictures of examples you can see on http://masterforex-v.su/002_006.htm
If you wish to be trained on Trading System Masterforex-V - one of new and most effective techniques of trade on Forex in the world visit http://www.masterforex-v.su/
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