Grob, Go ahead, tell him......If you put volume calculations into your algorithm....you will get an improved lagging indication of velocity to follow... Michael B. P.S. To evaluate and optimize a methodical bar combination with a methodical outcome of combinations will quickly exhaust todays computing power available to living room enthusiasts. For example writing an algorithm to check this long form question.....How many bars should I use to reveal a pattern that predicts the most probable conclusions to the direction of the bars (how many could be a question put here also) to follow it.
this is an entertaining enough read. I think I saw 'neural net' mentioned in one of the posts. a long time ago i had the opportunity to speak with a Market Wizard about neural nets (which were just then striking the trading world's fancy). He summed it up like this: "I think neural nets are a bunch of hooey!" Agree or not, that's a line one never forgets.
You know, I'm afraid I have to agree with the critics. I was following Jack's stuff for a while, and to be honest, there's some good points he was making... and it's not as if they're proprietary... but I can't overlook that he waxes and wanes. His posts are difficult to comprehend, and sometimes he acknowledges that and other times he's angry with the critique. But whenever he acknowledges a problem, there's a promise following to correct it. The promised correction either never comes, or is just as confusing as the original problem. Just look at the volumes of documents he supplies to enhance his teaching. He's prolific. But it didn't turn his msn group into a bunch of consistently profitable traders. Why should it here? And when he's angry about the critique, what follows is his faulting the reader. I can't overlook the fact that a whole forum on msn was created for his mentoring, and he left them, after several months, still not making money. Yes, they excuse him, mostly, because they liked the fellow, but the bottom line is that they were left individually without their skills honed, and still experimenting with this and that, still needing to figure trading out all by their lonesomes. I can't overlook that in this thread, Jack cites being unable to attend to the "volume thread" because of health reasons, while he states that excuse in a very lengthy tome of a post amid his other continuing posts. Same reason he cites for not being able to help his group on msn... but he keeps posting anew here. And I can't overlook that is he finally accomplishing anything other than exactly what others are pointing out: that here he goes again, infusing a thread with his hard-to-understand methodology, the same methodology they couldn't "get" or make money on msn with even after several months of daily tutoring from Jack, turning a few more ET threads away from its course and turning them into yet another repeat of already existing "Jack threads".
I dont care if the guy is out of his gourd I just hope he keeps posting. I am more than willing to wade through the maze. A single remark he made awhile back has made me money already. 95% of what he posts I do not understand but that 5% makes it worth the effort, imo.
Hi easyrider, Would you be so kind to give us a few of the Jack nuggets that enable you to make money? Please be precise. Avoid to be fuzzy about these points. Don't immitate the mentor. nononsense
I don't mean to interuppt......but for me graphing the volume with 2 ma's (not histograms) with "in frequency" settings was very helpful...... Also using Stochastics in the unique way that Jack illustrated was a big eye-opener. Stochastics CAN be a indicator of velocity and just not the oversold/overbought traditional use most use it for. Also....the mental state to reach to be like a sponge and grow to the next step is noted in his posts...... Jacks, unique writing style IS WHY I read his posts.... Michael B.
Nononsense I doubt that you need any help and you probably already know the things I am picking up. I dont know why Jack bothers posting at all. I think its probably ego but that doesnt matter. You obviously have a lot of experience. Why not share some of the specifics of your methods.
easyrider, Don't wiggle out now by trying to turn tables on me. I didn't ask for any help, I simply invited you to substantiate your claims. I, for first, didn't make any claims like yours. Secondly, I post not less, not more 'proprietary stuff' then what is customary at ET's. Be good, nononsense