Jack's methods, on a fundamental basis, reflect trading at the time of sentiment change. A trader then determines what conclusion to draw from these signals. Once determined, an action is necessary. Which action one takes depends on context. The market doesn't say, "Go long here!" or "Short the hell out of that over there!" The market simply provides the trader with signals for continuation or change. Once one has the ability to distinguish and differentiate between the two, nothing else more is needed. Good Trading to you. - Spydertrader
I think a lot of people don't realize that $10k to $2mil is only 2 pts a day (assuming always buying max # contracts, and maxing out at 100). I don't know if I would always buy max contracts, but I can say for sure that a lot of us in the hershey futures thread could do 2 pts a day with our hands tied behind our backs. So many people freak out because Jack says $X in X trading days starting from an account of $X size. My point is that if you freaking divide whatever Jack says by 10 the number is still definitely worth paying attention to. But "detractors" and skeptics can't seem to get past the phrase, "3 times the H-L" without blowing a gasket.
"I think a lot of people don't realize that $10k to $2mil is only 2 pts a day (assuming always buying max # contracts, and maxing out at 100)." Haha, only a true non-trader would write something like this.
really? most of them haven't yet even started trading at all - but without a doubt they would be able to CONSISTENTLY make more than what some experienced veterans are able to do (over the course of many years). bold. (as far as i have seen it not one single entry and or exit point has been posted so far ... nevertheless that thread stays in the journal section)
Jack and gang seem to be a bunch a dreamers,analysts with so much time on their hands that they spend writing book volumes on elitetrader Not even one single trade in the journal,that says it all LOL so they are not even paper trading And Jack claims he could make 2 to 3 times the daily range , that can only come from a FANTAST. Instead of writing so much on elitetrader, open a real live account and start trading live and then start a journal.
first sign of an amateur. Gee, I made 2 points today. times 5 thats ten a week, time four that 40 a month and SO ON. Just screams rookie.
Your talking about conventional wisdom, the JH method is clearly not that. If you cant open up your mind to see another angle of whats going on here, then you will be forever in denial. But thats ok, not everyone can reap what the market offers. Its the nature of this business.