The money comes from having an edge and the will to follow a plan that utilizes it. There is a shortage of disciplined traders, not edges. The person that complained that Jack's method could not guarantee a no-loss trade did not have the discipline to utilize the method trough several trades constituting a trading day. That same person complained that the 5-minute bars were numbered throughout the entire day. Obviously, they didn't get it. ET should make milk and cookies availble to the traders who cry.
Excellent and so correct. No big secrets required. It isn't intellectually difficult. Its just hard to do, over and over. I will make a small donation to the milk and cookies fund (happy to match yours wolfy).
The Australian batsman Slater was taken to watch the English women's cricket team.While he was watching,a batswoman tried a reverse sweep and missed.He told her the reason she missed was that she hadn't touched the knee of her trailing leg to the ground.
Obviously The fact that her overall technique was crap or that she had no hand-eye co-ordination, or that she was thinking about last night's robust shag/lickalodapuss plus 9 Coronas never entered the equation? Hmm... Or maybe she was too busy drawing trendlines on the pitch... (I said pitch) Yeah yeah... Bo sELEkTah!
Man, it's getting more time consuming finding trendline info here. Anyway, here is YM 5m chart as of 11:00 today 5-25. These are just current/intraday lines. No larger timeframe lines are shown. Only trade that I personally have seen so far was a break of yesterdays low, but I did not get it cuz didn't really see a "safe" entry. As in a good place to get in where my stop would have some kind of price action protection that wasn't too far from entry. We'll see if the attached chart current trendlines provide any clues today. Of course these lines can/will be updated and I'll try to post them. Hopefully I can post something other than a triangle (like all of the other ones that I have posted)
So to get done with building the bridge, I am going to set up a construct that defines the relationship of you and the market. The construct is based upon risk. See below to find it. By having a construct, several things become apparent. They are: A person can discover what is missing. A system emerges that, in effect, scopes and bounds the entire opportunity. There becomes an opportunity to delineate the responsibilities of each player: you and the market. Outside of all of this is a person's life experience that has built his character, etc, etc. This is an asset in some ways and a liability in other ways. A person arrives at trading from the outside of trading. By getting to SA (systems Analysis) there is a major discovery available to entertain. It is that is is also possible to be systematic about going about how to become excellent. The key is to carry out a PROCESS in the context of learning. I mentioned that my alma mater has 3 foot high robots who read, books, take tests and discuss why they gave the answers they did on tests. This is based uponthe understanding that "pondering" is the key element in reading to learn. The task at hand is very different. Our task is to learn in order to get very rich by doing some simple things. The category of effort is kind of like what fifth graders do successfully. The key life style liability is how people who do not have money think about and regard money. B people fit into this classification as we all have found out by their continuing AGM's where they speak as "have nots". They do not have x, y, z nor A, B and C. The construct is going to operate on six levels and it will classify x,y, and z by the associated risk. This is new stuff for ET it turns out. New in the sense that the topic previously addressed did not soak in anywhere. The parts A, B and C are "DOing" things so, in a sense there is a risk of doing. I will, for this reason, use the same associated risk categories. Low, medium and high are the ways I will work regarding risk. Binary was too simple and would imply on and off for risk. So the construct is a cross between low, medium and high risk and the six elements: x, y, and z; and A, B, and C. I will use a generation breakdown (think mil spec parts lists) on six levels to get to finer and finer details (I will mention specific items from 35 books plus many other info sources). You have ordered and purchased one book so far, maybe. So it is possible that you are not completely fluent with all the details of this construct at this moment. The construct is a common one that I use in each field of expertise that I study, research, consult, speak and write in. Now, the bridge. (On the construct, make risk horizontal and the other axis is x, y, and z and A, B and C.). The bridge is the key for utilizing the construct. To learn to trade as an expert and be very very rich a person utilizes a personal capability. Because of who I am, I have been tested by various organizations that want to find out what is going on. The generic question is "Who the hell is Jack Hershey?" I have a flat response across the spectrum of stuff related to what a person might be good at doing. The flat level is at the limit of relative facility I am told. So I am a lousy example for anything. the personal capability that you will be using is something that is acquired and is NOT something that has to be built into you. This is because of the low level of perfomance that is required to be capable. To "get" the capability, is what the bridge is for. I operate from a BE DO HAVE orientation while often it is convention for people to trhink in terms of HAVE it (Take a course you buy), DO it (paper trade for a while), BE a trader who either goes broke or makes some money. So BE means (get the capability internally), DO means experience the capability and HAVE means you are very rich financially speaking. I will give you the construct and its contents by operating the bridge. A PROCESS will be followed in a way to learn. Learning, then, is a step by step thing where the effort is to fill in a construct in one specific and very special manner. Because the operating result is on a fifth grade level; it can be understood clearly that this is not a difficult thing to go through. Whether this can be done depends mostly on one thing: if the person can have a high enough priority to do it as compared to that person's other life style percieved needs and moreso that person's behavioral wants. For example, if your major overriding want is to tell others of your nature with regard to relating to fat ladies, you will do that repeatly as you interrupt and prevent yourself from, say, helping others out or completing any intellectual thought. Now, since this is a matter of developing a personal capability it clearly is not a case of following a set of rules or anything like that at all. Rules are in software programs and people who want to have others use their method give away or sell software. My stuff has been turned into software since software building capability was available. The capability a peson needs finally manifests as a sports memory trading combination of four things. This synthesis is achieved by using the bridge to build a personal capability. Obviously this is a minimalist PROCESS operating strategy to have an expert capability to do the least necessary, automatically in a real time performance situation. Personnally, when I tutor I often state that at a given moment I am adjusting internally the offset I have between where the market is and where into the future I am regarding how it is actually going to go along. For example, one of the regular blow out guys in ET just announced a new set of failure symtoms he has spent time acquiring and after a two week break from trading he is becoming conscious of. The combination of the three paragraphs just above makes a point. What the bridge is intended to do is build your mind properly. If I can get you to make this a priority (A first for you, making priorities suggested to you) then, if you understand the concept (read three books that I have suggested in the past to you) then you will go through a massive resorting of three types of mind trace sequences. During the day, you will be trading and making several times the money that you so far have been able to make. By making this money, you will get to a place where you no longer can lose money and then to a place where you have more money than you can use to trade simply and more money than you have to have to deal with your needs and wants. So it took reading four books at first to get to ground zero for this. Having that out of the way, figuratively speaking, I can finish up by presenting you with a complete set of truths that you personally verify using your newly acquired personal verification process. I will cover about 35 books that simply save me typing. Without exception most of this content arrived in print after others were using it for quite a while. There is a value in a person pursuing what is needed but by foregoing all of that and getting some other things achieved it is a good tradeoff. If you have a lapse and get that old feeling that you are compelled to prepare a "response" or you feel you must ask me questions to clarify whatever, you have then once again made what I am suggesting not a priority but you will be chosing to "do what you want" instead of rcognizing I am helping you get knowledge, skills, and experience and I am helping you display data, annotate that data in a usful way determined by you, and trading in a chosen manner from many possibilities to become very rich. I caution you to put you continuing selfish interests first and destroy the possibility of doing some very excellent learning that no one will ever be able to take away from you. You, from this point on, can use what detractors pronounce here as a lesson in what it is to be a stupid person in the face of an opportunity. what we are about is leanring how the mind wrks for a few minutes and then using that knowledge to acquire what we need (by critically assessing it to add it to our molecular brain in such a way to create an operating mind that can at some point go to sports memory locations in the brain to operate with a facility that, in real time, is almost seemingly unconscious. This is a fifth grade project.
Uh, Jack, was there a trading system buried in that post? I passed out before I got to the end. I could have made a nice little scalp in the time it took to read it.