(2016-05-15, 02:08 PM)SebForLiberty Wrote:(2016-05-15, 09:28 AM)kero Wrote: I'd add to that, that it looks as the reviewer has a bad understanding of the method. It's not just about working on breakouts/breakdowns, it's about working on breakouts/breakdowns under some very specific conditions. Without considering those conditions, it's obvious that lot of trades are aborted. Which is actually what Weinstein explains perfectly in his book.
It looks like you didn't really read the review, he doesn't say it's only a breakout method.
Thank you, I know read. He says : "When you look at charts of stocks that have had big runups, you will often find a breakout from an area of consolidation. The problem is that careful examination of charts of stocks in general will reveal these same patterns, often not followed by a big price move."
Thus, he considers that looking to charts and see how often the breakout failes, is a proof showing that the method doesn't work. Which is not, because he never considers the context. Which also implies that he didn't understand Stan's point. But it looks like you didn't either.