JH, why are you choosing to throw fewer life rafts to people in the future, as you say in your post? You help many people.
Most of all because I'm getting good advice persistantly. And I'm beginning to take this advice more rationally since I'm not being cut any slack any more in terms of the time I have available. Its a new experience for me to run out of gas and not know it. It turns out, it takes so long to get back up to speed again, relatively speaking. I have to begin to pace myself and be thinking through how to use the moments I have available and with whom to be spending them. The OP is just a typical person, educated and all, the juxtaposion of the Q's, etc. The payoff of a person getting to a place where he could be helpful to others is such an important possibility. So now I need to focus on expediting foundation stuff and keeping my self wired to expertise and those nuances of optimizing and coding. I need to not ever miss any quality time anymore. ET, so fortunately, provides a rapid and clear contrast of what is possible and what is likely. I know that my posting does drive a lot of people to resourses they may not have otherwise found. That is great but I can't allow myself the time to deal with assisting where it just isn't useful. The many many helpful people I associate with are very clear with me on the matter of how to spent time and they exemplify what they are telling me. Don't waste time. It is not a matter of what is said about me; I do not care. It is a matter of only spending time in useful ways. Life preservers are not useful enough anymore.
I hope that means you will still be contributing to the understanding of your ideas here in ET. PVT and SCT are on the table, but I suspect, and wonder how much more is there? How far have you taken and refined these ideas? I hope we have the opportunity to find out. How many other markets have they been applied to? FWIW, the life preservers have been much appreciated - some just didn't want them. Just the reply to my Q's on harmonics a few weeks back, it all finally came together this week and so many lightbulbs went on in my head - I had to wear shades . It just made the Channels, PV realtionship, the basics rock solid. So while that post may not have been a life preserver, I can't thank you enough for all your contributions to the learning process. Kind Regards - EZ
"Hypothetically, would it be possible to entertain syndrome/philosphy that did not deal with probability, betting, divergence, support, reisitence, etc.?" Ha! I've entertained (and still entertaining myself) with the prospect of trading without numbers. The roar of the crowd, the fear and the greed, beats the heck out of number valuations that never become reality. It's obviously part of it but can it be all of it? Just thinking out loud.
I like Jack's advice. The simplicity of documenting with pen and paper will force you to think on your own. Don't lose these papers! Pose to yourself in the form of a question;"how can I extract money from the market?" As you mature and gain experience, ask this question again and again. When looking for answers find them from the market past and present not from books or seminars. Do you like trekking in circles? Advice from newsletters and market software searches will take you on that vector. NEVER, NEVER listen to wallstreet talking heads. Later, you'll learn the joys of doing the opposite. Don't be in a rush--The markets will be there long after you and I are gone. By the same token if you 're serious you need to spend a great deal of time watching and studying how the market reacts in various conditions. Past and present. (I don't mean backtesting) Don't plan on watching much TV. Personally I watch about two hours a year. Write daily in a journal what happened and what you think will happen short and long term. Right or wrong be disciplined and write your observations down. As time goes by read your old journals, you'll learn from that too. The difference from then and now should be a proxie for your bank accounts. The correlation will be astounding. I don't know what you wish to trade or what timeline you will choose. Perhaps position trading and some minor intraday. Expand from there. Learn to operate in various time frames with multiple instruments but for now, pick one and only one and figure how and why it moves. Learn how to read charts Pick a strategy and master it. Be the best in the world with one instrument and one strategy. One chart with volume and one indicator. NO MORE. Learn without the crap! That is your starting point and you expand and succeed from there. When you're very comfortable financially you have the responsibility to pass your knowledge on. Not trading secrets but the basic knowledge of how to succeed. Make this commitment now.
i feel gratitude that wise people from this forum took the time to write lengthy answers to my questions you have no clue how much I appreciate this i will print them out and read them periocally maybe some will find it entertaining, but I have prophetic dreams before each trade, it is me and the crowd and sometimes they are there before me, sometimes I am there before them this is a gift which I have used to protect my family and friends from bad happenings or do the right thing when I treat people (my profession is a medical specialist). and there I recognize some of the advice I got from you guys: I just feel what feels right and what feels wrong and act on it, only later can I explain it. if i had followed the instincts instead of the indicators I would have made big profits by now. again, my deepest gratitude for the advice, I will let you know if trading works for me
the best advice i ever received from a trader when i started out ,with a lot of wide eyed wonder on what to watch ,what's important, he said the big picture is your acct dummy.if you trade only the setups you'll be bored but you won't be giving money back as often ,that's discipline .if you know mrkt profile ,that's a great tool.i call the point on those profiles the nipple.when the mrkt moves up or dwn in a pretraded area it stalls at those nipples so you can use those for exit points.it doesn't work near as well as the catching every move thing that jack's doing but it might make you enough money to keep you alive while your trying to learn jack's system '