Don is correct. L 2 is where most of the market manipulation occurs. The key answer to the key question is: smart money is doing the manipulation and it HAS THE RIGHT TO DO IT because it has the capital required. We need to go beyond the superficial thinking of 777. More than skin deep just as ticks do. We found out that reading something for which there is no mental inference in the mind is "hard to understand". We now know we have proven how the mind works. It gets filled with inference by doing drills. The mind arranges inference into a spectrum and questions appear to fill out the weak spots in the spectrum. A full spectrum is called a (fully) differentiated mind. No prediction is required at this point of trader development. Probability is not required either. Why do the rich traders manipulate the market? they do it to gain an advantage. What do we do to use them to make monney for ourselves? The answer is to have the order of events in the spectrum of our differentiated minds. I have heard some lazy waiters and shortcut people conclude just how long they need to watch me trade to be able to prove to themselves what they are trying to find out. One day is their conclusion. BUT if you ask anyone who has watched me for a day, you will find out that the recorded video tapes do not tell the whole story. Why? It is simply because to describe all that is going on in my mind would require me to speak four times faster than any human can speak or even listen. BUT they also have found out that they can duplicate my trading using their swift, organized and very sppedy minds. the market goes slower than the human mind. Ask any market manipulator who has the right to manipulate the market. for years my broker's lawyers related to me why and how the SEC was determining I was an insider trader. I had qualified on the public record as an "evil doer". What is my new name now that I have explained satisfactorily to my lawyers what I do? Look me up in Larry's book on page 199.
your description does not make any sense to any others on this thread. care to expand to include some details for others to enjoy, perhaps. thx.
My system takes half a page of TOS script. Two conditions. One is the most basic TA imaginable. The 2nd is a bit of basic calculus to figure out momentum. That's it. On execution of a trade if I'm trading at a very low timeframe I use Level 2 and if I do a limit I do it as Jack is saying there: figuring out where to put it so it will execute where I'd like when I'd like by remembering the queue at any level of bid or ask is FIFO, so don't put it at a level where there are lots of folks already on line. Kinda like being on line at the bank or the supermarket: choose the shorter line. And of course the level that's a bit closer to the price so that you in effect jump that longer line that's a bit further away. OTOH if you know from watching the action that that longer line is going to be consumed and there's not a lot of people waiting around in the shorter lines after that one, set the limit further out so that when that support/resistance breaks you get filled at a very nice price in comparison to everyone else. No need to go on and on. This stuff is very simple really. Let me put it this way: as a freshman in college taking English I used to hand in half page analyses of poems we were assigned and get an A every time. The prof, the one giving me those A's, was a bit bemused, and made me a bet I couldn't do a comparison of two poems and still do it in less than a page and get an A. That one took a page and a half so I lost the bet. Up there in the TOS script I'm analyzing a single trading instrument, so why would I want to take more than half a page of logic to get to a decision? It's not like there aren't things like stops to get me out if it turns out to be wrong. Somewhere in there Jacko said he didn't use stops, so I guess he can't be wrong either.
@jack @trefoil ....Somewhere in there Jacko said he didn't use stops, so I guess he can't be wrong either.... OF COURSE, JUST WATCH THIS VIDEO TO CONFIRM YOUR CONVICTION http://www.google.co.th/url?sa=t&rc...SDS4vPOOA&sig2=KQZ6hr7lzw1QyBiSUXKHKw&cad=rja what do you think? -------------------------- i remember well, how a private entity, walter mitty also traded without stop and prospered beyond any expectation. do you, by any chance, happen to be acquainted with his exposition? cheers.
great video!!!!! Fits perfectly with the CW stuff floating around out there. TTM has a great ad crew. You have to ask yourself about stops. Level 2 is a great place to consider this. When do you see your market trades begin to be split over more than one pair? This is a partial fill kind of question. At that time you have reached a trading operating point where you recognize two things: 1. Above a given market capacity, stops have no trading function. 2. At some point you recognize how trading market turns actually works and you use the FIFO of market type orders to carve the "anticipated turns to keep you in the market at all times AND always on the correct side of the market. For most people this time in their trading lives is never reached. The reason is that they are not able to have much much more capital than their life style dictates. Many many of the myths of trading also contribute to their never raching this point either. If you want to watch the white rabbit at sunset at La Costa, in early January, let me know. I believe in the white rabbit and he shows EVERY sunset when I'm there. For laughs, did anyone read the Billy Williams on pages 34 and 35 of this issue of Futures? How do you think this stuff got past the editors?
Hi Jack, I have problem understanding the above statement. 1. When you say market pace peaks or volume peak, is it the same thing as "Peak Volume" used by Spydertrader? The following is the definition of Spyder's peak volume: Peak Volume also needs three bars to create acceleration of the Gaussians Slope. 2. >>>Both occur on market pace peaks. Both retrace and reversal occur on market pace peaks, I have no problem understanding it [If I know what is "pace peak"]. >>> If you don't have a peak (use PRV to see it at the beginning of the bar, then the market is not going to change trend (reversal only) or just change to non dominant (retrace only) Does that mean retrace can occur without a volume peak? So, reversal MUST occur on volume peak, retrace occurs on volume peak and no volume peak. Am I correct? If the above is correct. When I see volume peak, how do I know if it is a retrace or reversal? Thanks! Happy New Year!
Walter Mitty traded without stops??? Unless he used options (on a timeframe of swing or larger, and one hopes with portfolio margining) he must have had a rough time dreaming his dreams, given how restless his sleep would have been.
Look at a chart and discern that a retrace is on the LTL (at point 2 of an annotated container) and a reversal is an FTT (and it is after point #3). Lets look at what happens after a trough. A series of increasing bar volumes follow. If you see the delta volume getting bigger, you have acceleration. On a good platform this is annotated as an annotated P automatically. So three volume bars are involved to get a P. Peaks are volume bars that are highest among the surrounding bars. The PRV was invented to tell you how a new volume bar is forming from the beginning of that bar. Naturally, anyone who is a coder can turn a manual process into an automated process. "The Pattern" is how all markets operate, since there is granularity in markets. In "the Pattern" you see specifically the arrangements of the peaks and troughs in relationship to the price events. This represents an Order Of Events. If you log 5 cycles of the market, your mind will automatically begin to have Perceptiion the sum of two things. Sensing a display is NOT Perception. Your post is a great one and shows that you are on your way to success. The questions you ask are an example of a person who is filling in the weaknesses between parts of the spectrum of long term memory inference. Suppose for a moment you are coding "the Pattern" and you are scheduled for an interview with Covel. You are going to explain to him how you set up the three peaks and the two troughs in a trend going from the exact beginning to the exact end. You will also be noting the three points and the FTT of this coded trend. Don't leave out the BO of the RTL that ends the trend ovrlap. Since you know all of this and you also are using scoring; you add to your explanation just how the scores relate to the durations when they are ineffect in the trend. After Covel spent those 8 hazardous years writing up his interviews found in "Trend Following", a joke book of some renownd (sp?) he concluded what you are saying to him is gibberish. So you smile and continue the interview. You add in that any trend observed on a chart can be seen, also, to have surrounding trend fractals both slower and faster. You also tell him that each of these interlocking trends can be in a ratio of 3:1 with respect to each other. "the pattern" also flexes in two geometric ways. It can get more volatile as a trend or it can grow less volatile before it ends. But the nonstationary is also affected. This is moreso gibberish indeed. How could it be that a new market language is appearing and has not been noticed? Lets be hazardous for a moment. Look at the principles of Behavioral Finance. BF speaks about fear and anxiety and anger. As you did, any person can be puzzled about the performance of his strategy, plan or performance. On any point of any trading fractal, there is an ftt at any point of that trend container. four ftt's in an events process that creates an FTT starting from a prior FTT. FTT's are places of change as opposed to thier counterparts, places of continuation. No probability, just a binary vector condition passing or failng to pass. By following the faster fractal's "the Pattern", you can see the three Behavioral Finance parts of a trading action: pre, action, and post. This is what BF suggests you improve if you feel anxious, fearful or angry. So we of gibberish fame and fortune (a Walter Mitty, thingy), do what we are told. We spread out the three parts into 8 parts. S L O W M O T I O N WHAT DOES SLOWMOTION DO FOR A PERSON'S EMOTIONS? It turns them away from anxiety, anger and fear to support, comfort and confidence. Since you have so much more time to Monitor and analize and you also "know that you know" the difference between a retrace and a reversal (both happening a relative peak volumes). In the long run when you have to be concerned about the market's econometrics and it capacity, then you deal with how three trading trends make up a Depression going on several slower fractals away. A few years back I laid out the new year about the time New Years was rolling through in very late December. So the next year turned out exactly that way. It wasn't the white rabbit at La Costa that told me; it was just WMCN that told me to tell my audience.
Jack,how do you match SLOWMOTION with the BO of RTL?Take a 5 min chart you`ll see a bundle of BOes.BOes dont have any significant meaning in a trend,or it has it in 5% of the cases at max.