Quote from Nutinsider responding to a Jack Hershey post on ET: I THINK you are saying "ignore the noise" and just grind the nuts and bolts, right? Actually Jack learned to write clearly while writing for the I.R.S. In writing about the market, he has been able to retain the same simple subject-verb style, and this is what has made him a master of clear, straight forward, easily understood communication. There is nothing he doesn't know, nor for that matter anything he is unable to communicate clearly. Consider for example one of Jack's most recent musings, to wit: "...the whole nine yards of trading to make money involves using what is left (the other 50%) to be able to see the pattern of the leading variable of price. by looking at this variable in terms of adjacent bars, you find out what was made public at about the same time the DOW Theory was first presented." Obviously this is the writing of a genius who has taken seriously what he learned while writing for the I.R.S. Need I say more? Need anyone?
Hey, thanks for the response. I'm curious about your aversion to colors? Regarding indicators, which indicators better suit swing/position trading as opposed to day trading?
I like to see the whole candle, while not every candle is important, coloring the candles can give you an incorrect assumption of trend since coloring is actually a lagging indicator. I actually day trade. If I was to hold for a longer term, I would look at the financials of the stock. As for longer trend, although they are lagging, a cross of the moving averages is important. For example, I think the 50 moving average going below the 100 or 200 day moving average is called the death cross, which is a bearish signal.
What do I do? I start flipping thru successive higher timeframes don't stop till I get my answer that's what I do
market trades in bell curves ,if the 642 doesnt hold then we drop to the next bell, wide spot of support is 606 area, if it does hold we retest the 667 wide spot of the present bell..you can use the candles ,tls small timeframes to pinball around on the moves between
Please, you are not supposed to understand his writing unless you are invited to his private circle. He just labelled all ET members as takers except himself. Don't fuck around with this hypocrite.