I understand coin flipping probably better, since I've run numerous tests. Then again, I haven't exausted every possibility. Can't say I understand the nitty gritty details of all of Jack's methods. I understand only some details on less than half the methods. I just know the terms mainly from keeping up with Jack's posts. I would be happy to get 4 low risk, fairly regular, ES points a day per contract for starters. I'm looking for a way to get that. JohnnyK
Yeah.....I hear ya JohnnyK. My point is, it seems as though hardly anybody around here understands what Jack trys to say. And whatever it is he is trying to say, trading is a lot more simple than he trys to make it out to be.....IMO.
Maybe someone could sell a "Jack Translated and Simplified" type booklet for $19.95. Got any good titles for such a book? I am setting my sights on a simple method that works that I can implement. Once the money starts to flow, this is the time I might look at more complexity in order to increase the flow. I think Jack advocates this approach anyway.
It's titled, "Ungarbled Gorb", and here's the review: $19.95 might cover the first book which is the lexicon series, but the "simplified" part promises to spring several sequels that leave readers just as confused as when they started. The first sequel, "Waiting For Grob", a mystery, revolves around an eccentric senior citizen who frequents trading forums with oft times hard to comprehend diatribes, while a group of his personally tutored ex-students on an abandoned msn site struggle as they still try to become profitable using the very same methods. The book engages a messianic tone as the eccentric Grob's return, like the Christ, is anxiously awaited, and like the Christ, it will be a long, long time before he returns, if ever.
Since you want to day trade with a almost a week period, I think the ex-postings will not help you much but my posting will Use the following strategies: 1- Don't follow more than 10 stocks . Don't let the morning breakup news change your path. 2- Follow them for two weeks without doing any trade and after 2 weeks you will be more familiar with the behavior of those 10 stocks. In other words, you will feel them. 3- Usually the market goes down after 4 days of straight up and vice versa so don't buy anything after 4 days up or don't sell after 4 days down. 4- Do trades in the size that you are comfortable with. You need sleep. 5- Do trade on stocks that are relatively volatile and are traded in high volume. 6- If you become successful send %10 of your profit to me and ask for more help 7- Always have a metal sell or cover point. Don't be greedy. If you buy something and it goes up %5 in one hour it does not mean that you will get %50 in 5 days. You might end up losing money if you becoem too greedy. 8- When you do a successful trade set back and relax at least for an hour. You will always have time to do trade.
I read this thread and others in ET with great interest. I am relatively new trader, having been paying my dues during the last year, getting my feet wet in everything, from stocks to options (various spreads) to e-mini and oscillating between different time frames. From my experience (often times very painful), it is easy to hand someone a strategy of trading, but it takes a long time for him to gain some market experinece and develop the right mindset for the strategy to work. A trader has to make most of the mistakes, if not all, warned against in trading literature before he can gain some respect for Mr. Market.
I wanted to correct a post that was picked up by google - he was teaching me how to day trade the S&P emini. Then all of a sudden he pulled a bait and switch with everyone in his trading room - He wanted $5000 a month to continue with him after I had already paid $3995 for 3 months. He might make money trading but he is hard to trust. Feel free to email me for any additional info on David LaCroix