He PERSONALLY answered an email that I sent to him last year and, aside from his genius, he has my respect for that I'll tell you!!! And guess what: he did not try to sell me anything at the time either (which is more than I can say for one or two other well known gentlemen who have been around all these years)!!!
Anyway: I'm hoping he sees my posts i.e. maybe he'll consider making me a beneficiary (although I'd rather have him alive and kicking to be honest)!!!
Anyway: the point of my last post on this thread really was to say to be careful of NOT getting 'the big picture'. As another example: there are many websites that actually detail Bill Williams' trading systems but again you'll find that there is a lot of missing information that's only detailed in his books and this information is the difference between 'trading life and death'.
And Wilder's ADX: that indicator can tell you SO much more than one is led to believe (even IF you're not actually using it to place trades).
I'll give you another example:
How often have you read that Wilder's RSI is to be used this way:
If it's over 70% the instrument is overbought and if it's under 30% it's oversold and it's therefore time to expect reversals???
Well let me enlighten everyone: when RSI is above 70% it means that price is making new highs and when RSI is below 30% it means that price is making new lows!!! That's not 'reversal territory' but a continuation of the current trend!!! I know of people that will sell the moment RSI moves above 70% buy when RSI moves below 30% ande then they sit and wait for the price to come back to them with disastrous results!!! Wilder only advocates using RSI to detect divergence and only THEN to start looking for a reversal. That little 'tidbit' of information is almost always left out of the trading platforms manual or help screen!!!
Is it safe to assume you made back all that money from the beginning? Either way you seem to be on the right track.
Funny you should ask!!! I was ALMOST there until about three or four weeks ago!!! For some or the other inexplicable reason I started 'messing around' with Pivots AGAIN instead of following my Wilder 'stuff' and, of course, got a hefty 'kick in the jewels' AGAIN!!! My 'Pivot Point Exit Strategy' was to hold on to trades until price came back to me or until I could 'bleed no more' and, with the volatility of the Dow, Nasdaq, and S&P last month: this was NOT a good 'Pivot Point Exit Strategy' I assure you!!!
I was actually saying to one of my clients last night: I'm seriously starting to wonder if I'm not Autistic or suffer from Attention Deficit Disorder (or maybe it's just the way the mind of a genius works)!!! (Only kidding)!!! EVERY TIME I'm doing well with my Wilder 'stuff' I start looking around for other 'stuff': NONE of which has EVER worked for me but yet I still have the need to 'prove' other systems. Inevitably: once I've 'sobered up' it's 'back to Wilder' to cover up my mess and then the cycle repeats itself!!! I'll 'master' this business ONE FINE DAY!!!