Not into the "awards" thing but the following combination in my opinion gives the best charting value: Stock Watch Pro/eSignal. www.crontech.com/swp www.esignal.com Happy charting.
SPIKES after the 2 pair, the price continues to move away from the "extreme value" at the end of money making. If the 2 pair doesn't end this way, there is a resume of the trend. you have then usually seen a hitch, dip or a multi bar stall. all of these are latral moves within trends. Spikes that occur end traverses at SIDES of channels. you reverse on spikes because you know how P, V works and are not restricted to "edge" trading handicaps. Therefore, you see that a spike occurs on the third tick pair back from the extreme and it follows directly after a 2 pair ends by moving further from the extreme tick pair. All spikes forming are fun to watch. after a while you will combine all data gathering to "know" stuff. Try to provisionally "accept" these write ups. This lets you have possible beliefs. I tell those I mentor where they are. then I work to deal with their improving situation. I try to provide time with them to reinforce all these "provisional "acceptances". At some point, like on three occasions this week, a person would say something. I then reply to confirm that they have replaced something with that which they had made "provisional". Seeing a spike on ten sides of channels gets a person to have a beief about CHANNELS. The provisional belief that channels work (including the new point 3 requirement) becomes permenant when a person makes 10 prifits by doing spikes ten times as they occur on edges of channels. The end of trend aspect of a failure to traverse on a spike also counts because they are coming to a belief that pt 1 of channels occur in the prior channel. I lock beliefs into those I mentor. They work along becoming more efficient. This is because of the "process" of working day after day. My first effort in ET lead to over a 1000 pages of posts.(mid FEB to Mid August) 75% of it was pure bull$hit from pervasive detractors. These B types all were unable to "get" anything whatsoever. It is frustrating, of course, to have to edit a 1,000 pages down to 200 pages to allow a focus on the concept of "process" for learning to be a millionaire. I did that and posted it. My next pass on it to crossreference all of it, is not going to be completed until later because i have to refrainform doing complete tasks. My first millionaires came about from work between 1957 and 1960 in equities stuff only. PRV, 2 pairs and spiking on DOM is a learning experience that locks into place prior the more coarse concepts. A coarse concept is a basic one upon which refinements (iterative) may be built to improve efficiency. Taping is a coarse concept, for example. I call them "rockets" because of their money velocity. New point 3 allows people to understand market pace and all about channels. All of this leads to understanding "market pace". Market pace locks in the P, V relationship once and for all. you see cheese commenting on the "process". He faciously says after he gets a look at the magnitude of the market's potential to deliver profits, all i have to do is....."just tell someone". Well, he did get to percieve that "process" was on the table, perhaps. Those super days when trends 1, 2, 3, and 4 that occur daily each yield three passes over each price value, is something to josh about for everyone. I josh about it from the viewpoint that my beginner prints show those passes. If I am discussing trends with those I mentor once this is understood, there ia also the "segmented account" discussion where parts of isolated accounts are used to trade different periodicity trends concurrently with targets set per rollover period. What happens to "process" to get there? Currently my values (goals) are 200 points for LT position segment; 25 points times ten cycles (250 points) for IT position segemnt; and optimally 3xtimes H/L daily times 90 for intraday segment. I use 8 points for H/L. A person goes through developing provisional beliefs. Those beliefs become beliefs from the experience of making money. Those beliefs while monitoring are not at play. Sensing is at play while monitoring. Accompaning each kind and mode of sensing is a paired emotion. Having quality beliefs that are, in fact, true allows all emotions to be in balance individually and collectively. as beliefs become more comprehensive, a person has less emotions that come up by surprise. Those that surprise us are not in balance and are, in fact, detriments to making money. This is the PNI topic. As failure occurs the PNI condition asserts itself. as shown in the Nobel Prize pairing, the profit/fear pair and the losses/hope pair are not healthy but, in fact they are the modus nowadays. profit and loss is a trading coarse measure. The two emotions that relate to sensing, are not emotions that a successful trader summons as he monitors. The seige from February until August was 75% uncontrolled emotional commentary from people who were reading (sensing) and "getting" emotions that were theirs to either summon or be surprised by. They "shot" the messenger for 192 pages of posts that printed as over 1,000 pages. The ET guardian Nitro, who posts at the greatest amont and possibly frequency, says he is protecting novices in ET from my crap and snake oil. This is not a good picture. He has posted a couple of times saying he has understood something I said. He wants to have it both ways as of late. will he either "get" "process" or will he lapse by sensing stuff that summon once again inflamed emotions. The prognosis is not good. 2 or 3 out of many many is not a great track record. The ET pace here vis a vis "getting" "process" may be picking up a little. When we get some people posting trades of over 10 contracts that they have accumulated starting from rockets, then there will be fewer detractors regarding getting rich by going through developing skills and efficiency by acquiring a belief system that is true for that person. It is a relentless thing that is working for more and more people....
Thanks again Jack for two more generous contributions. I know it takes effort to snapshot a screen, put it into Paint, draw lines and comments, and then put it up on the web. I do relate to the belief thing...the importance of it. It does help that you are willing to repeat some things over and over again. This can reinforce a provisional acceptance/belief. I am probably typical in that once something is heard three times, it solidifies. Marketers are hip to this phenomenon. It was once put this way: Tell em what you're gonna tell em. Tell em. Tell em again. Tell em again some other way. [So they don't know you are telling em again] Tell em what you just told em. It does appear advantageous to develop provisional beliefs for the following concepts: Money velocity changes The leading indicator of smart money The tape extreme [once a channel is identified] A 2 pair A spike New point three Failure to traverse Pro-rated-volume [Price/Volume Relationship] Point one in previous channel The amount of money available once these concepts are understood, synthesized and made into actual beliefs. Indeed, if I took profits ten times in a row at the extremes of channels , I'ld be a believer in channels and edges of channels, and whatever it was that let me know I could take profits. And so on... Acting on provisional beliefs, I'm interested in getting set up. I already have an IB account. Practically speaking, how do I get DOM for ES from IB? I see the following three options for the United States: 1.) Non-professional US Securities and Commodities Exchanges (USD 10 if monthly commissions < USD 30) Free 2.) NYSE OpenBook 50.00 USD 3.) NASDAQ Level II 20.00 USD Do you read DOM in IB's TWS [Traders Work Station], or is there another program that presents it for you? I think I need to see this in order to comment/question further on the pairing and spiking you refer to. I have a full day in the field tommorrow so I am not able to drill down this evening like I want to cause I gotta sleep. If you make the effort of another narrative of a section of your trading day, I will definitely make an effort to analyze it with a view to understand every part of it...as well as these that have already been posted. Regarding last years' February to August effort, I am well aware of it and how it transpired. I had begun myself to edit it into Word, removing the 75% non-essentials, but got sidetracked. This is the second time I've heard you say you have got it already into Word, down to a 200 page document when printed out. I was not aware that you are trying to continue editing, as in linking things up. I mammoth task indeed. Why don't you let me take a look at it and see what I can do. But if I am not mistaken, the methods were a consolation to those who liked/insisted on using stochastics. Some concepts discussed there, such as channels, points 1-2-3, failure to traverse, etc. are currently being discussed here. It seems to me that the concepts I listed above are the purest of your methodologies, the way you yourself trade/think. I would sure like to see you continue to expand in this mode. For those interested, here is a reference to the 5's theory in Thorp's "Beat The Dealer" JohnnyK
Jack. Is it better(best) to use OHLC bars in order to 'see' (form a picture)? FBPs, FTPs etc.I've been using candles almost since I started as OHLC seemed 'dead'.Am I likely to be missing things (placing emphasis incorrectly) by using them?I'm playing catch-up at the moment and may have some remedial questions - should I post them here?
Somehow Jacks stuff is riddled in the way he writes. The gold is their, it is just how to understand it. At end of trends the smart money takes out their money at the most advantageous times. This would occur at the end of a trend. Lots of times the ends of trends are on volume spikes(smart money taking money out while slow money losers putting money in) att he left side of channels. The greatest exchange of the smart money and stupid money at the most opportune time of the end of a trend(volume spikes) can be logicaly telegraphed by the indu/ym spread......neutral is on my mind =) thanks Jack.
Attached here is an edited version of this thread as it pertains to Jack's methods. It contains all the charts and documents Jack has attached to his posts. I ran spell check on it. It is very readable, 23 pages, and "Print Ready". Great for those catching up, or for a fast way to digest the most salient points with few (fewer) extraneous elements. JohnnyK
I use IB and the TWS for DOM. From the center out I put contracts, price, cum contracts, and av price. This way I can watch the the continuation stuff as translation on DOM and the left ends of bars extending everywhere under either stretch (short holds) or squeese (long holds) all confirmed on MACD and STOCS. When there is a higher potential for flaws, I look for hitches, dips, and stalls on price and INDU/YM04M. I also look for IF1 on price and then possibly an IF2. (SCT stuff). When I get closer to taking a chunck of profits, I am seeing 2 pairs, APA's maybe, and finally I sense for potential spiking. Throughout the all P, V stuff is pointing my attention to these things above...and is confirming the status. When I mentor, I gradually go through the process og getting the person to monitor properly. first we try to use four sessions to settle down with the set up. They have been paper trading. I only visit their residence or they set up on my screens for the length of a movie. Then we are debriefing etc and just paper trading from going to the sidelines. 20 hours gets them to first 60% profits on capital using a max of one contract. (bfore eminis it was DJXX and using my drafting board for coloring 30 min bars in two concurrent series overlapped by 15 min (google powr girl to see old charts and the blank grid). Next they hear me deal with what "anticipation" means in the context of focusing on few items from 20 or so item. they learn to focus. Focussing on what is possible and not on what is not possible is a first religious experience. Way past the "aha" stuff. At this time they have provisional beliefs. Such stuff causes "growth". ET demonstrates abundantly, repeatedly and deeply that people often want to be "right". Being "right" comes from a long period of living. Living is a thing that has limits that are determined by an assimilated temperment and character. Going through learning to trade well involves a religious experience or two. One aspect of that is dealing with what is important. Well what is important? The 28 questions, for me, are important. Why? It is because they apply generally to anyone with any kind of approach that get them from the starting line to the finish line. If I were to state it carefully, I would say that it is the outline to follow to write the book that describes your excellence in trading. So, after making a beginning, a person who is mentored here, gets to deal successfully with what "being right" means. It finally means doing their best and learning how to "get" correct beliefs for making money. They learn to "know how to know". They test themselves by becoming better and better. More and more right. After several things "fall in line", I can mentor thoroughly. What I means is, you are making comments that are crystal clear and functional. You have found out what is important and you are "working" on it. Look at the posts here in this thread. People are on the ball. CHANNELS REALLY WORK!!!!!!!!!! This is a small example that simply comes from busting ass every day to draw accurately and appropriately every channel (and formation it turns out) that came up. what triggers it I mentioned. It is the fact that all the other stuff going on occurs and in reflection channels are drawn in advance and the super places where price chart pictures are completed definitely relate to these lines. The best religious experience usually comes at times when IT is under consideration. The daily preflight check gears persons to what the day holds. And ten times a quarter there is an IT focus. You will see, then, no less than three sets of channels become congruent for ending and simultaneously changing. The IT, the last traverse within the IT and one of the four intraday trends (see daily W or M four formations) channels ending at, thirdly the last traverse of that channel. This is an odd harmonic "roll over" caused by three harmonics. You have used several fractals to plot these channels. Most becore the day opens. You have the LT and the IT within it. Then on onitoring charts you enscribe the four intraday channels as they occur and, also, you, most frequently, note the multi bar traverses and the last failure to traverse. At this point in mentoring when the religiously based exclamation points occur, I go into "anticipation" mode. The "right" belief about channels is in place... I narrate the market by using only what remains that is possible. I focus, as an EMT (I was one in trauma) would, on stasis, never mentioning what is no longer possible. When I might say: "I can no longer get compression", it is a report on my failure to perform; it leads to remedies promptly. For trading I say: "we have............ beginning" and it means look for............. I establish that "knowing what to look for" is important. We look. We find. We keep repeating. We get to looking for "continuation". Trends "continue". What if we find what we are not looking for.. gather, analyze, decide, act. When you get what you are not looking for, you have a stasis that is terminal for making money. A flaw stops a trend. Period. So "anticipation" deals with "continuation" and "flaws". Later when this settles into the picture successfully, we recognize trading is boring. There is usually nothing to do. No action to take except to continue to hold. I go through four levels of slowing down the person I mentor. When they get to "belief in channels" and state it as a belief, I have "processed" them to an NLP picture. They "slow" down because there is, in fact, less uncertainty. As uncertainty diminishes, less energy, thought and time is spent addressing uncertainty. Each erradication of "uncertainty beliefs" is a disposal that occurs when and if something is there to do the replacement with a provisional understanding.* Coarse, medium, fine. When coarse is A okay (in continuation) then there is no medium nor any fine. It is there, of course, and it is reinforcing. always, even with continuation, you are monitoring (with the pair composed of sensing and a summoned emotion). You strive, at all times, for provisional beliefs. As you sense and emote, you get confirmations. Your temperament and character are propelling you to higher ground. Making money and adding it to your account as "price change" occurs further confirms provisional beliefs. I do address provisional beliefs as I mentor. I work pro actively and creatively. It is true that concurrently, other beliefs are going away. They leave when something better comes into view. The 28 questions provide a CPM which allows a person to get to any place he wants with what he chooses in a short time. As I mentor, I provide the efficacy for what is on the table vis a vis the market. Simply because I had the same training as Seykota and Soros, I was able to compose a reasoned path as a contemporary of Darvas. The 28 questions, just cut to the chase and allow anyone who wants to get his personal answers. i post my personal answers as well. I post when someone in ET brings up one or more of the questions. * you can see how persistant some ET'ers are with their uncertainty directed at my beliefs. They are absolutely certain in their beliefs that nothing I say can be considered, even provisionally. My posts are "riddled" with stuff that is not believable. Heck it is "babble". Believing what I say is "babble" is kewl. Keep kewl. as a matter of fact, it is hard for most people to consider, even provisionally, anything that is abrasive to their contemporary beliefs. When I post a print, it is definitely "unbelievable" and appears as crap ( a filtering terminology, perhaps) as seen through the beliefs some people have.