Could you also maybe go into this statement more. I am finding that the IT channels take precedence over many things and are very imporant to really clean up in trading. The big picture for me is to really jsut clean up on the traverses of the IT channel. The shorter time frame stuff should be excuted with the IT channel traverses in mind. Also, is a rocket the only way to break through an IT channel? I think icebergs very often are slow IT traverses or riding right side of the IT as it did today. This is somwhat relevant to Gaps as IT and gaps go hand in hand.
you know what's funny... I have found in my life that the persons who know the most about a subject can state their views and opinions in a concise and succinct form & format. Those who ramble on like you... are actually not sure what they are saying, or meaning! I think any experienced, successful trader could have said what you did in the three prior verbose posts via one short meaningful paragraph, maybe two at most!! You're a trip bro... Mark Douglas could make a career analyzing your complexity... the market ain't that complicated or complex as you "gurus" make it out to be. Anyone who needs all the crap you feed in your current and past posts under a different pseudonym are making "excuses" for their lack of trust in their own ability to execute........... by seeking out holy grail after holy grail. Period. Regards, ICe
Ice I have seen the opposite many times over the years. People who are great performers but can't teach a lick.
true... but if you're gonna preach like Jack you ought to at least retain a good speech writer..... to make what you "teach" intelligible to us mere mortals! :eek: regards, I
Well if he was charging me I might demand more. Since the information is free I figure what I get out of it is up to me. What difference does it make what his motives are? If you see a dollar on the sidewalk, you bend over and pick it up.
Well, that would cost Bill Gates money......to stop and do that.... Michael B. P.S. kinda reminds me of my wifey....she says I jump over $100.00 bills to pick up dollars hehehehe
can't argue with that... guess if I interpret his stuff as phony b.s. it behooves me to ignore it. Just get this feeling he is laughing at ET members who read and reply to his posts. Maybe I'm wrong and he is sincere as the day is long (in deep winter) I
I have read hundreds of posts from all over the internet (I know, I need to get a life) by and about Jack. You have to be willing to do the work to put the pieces together. He says he does this deliberately. Whether this is true or not I dont know, but I have found what he says to be consistent and the pieces fit together. I dont trade his methodology because I cant monitor everything neccessary, or rather I am unwilling to give up my lazy way of trading, but little pieces I have picked up have made money for me and it hasnt cost me anything but a little spare time.
It can't and it doesn't, ever. You look elsewhere at the DOM and the leading indicator of smart money. market is in congestion as an operating point. We keep our eyes peeeled. Gancing here and there for what will end the congestion. Our list contains a lot of things and, also, they are arranged in sequences of micro events. We also look for spurious stuff that wrecks what is going on. For just a moment, put yourself to my left and slightly behind me. if i am catching a ride back from the tundra or rtic circle or just whitehorse in the Yukon. I usually get to strap into a five way behind the pilot. I an yukon Jack up in the territoies and first nations. Okay i made you sit in a place for a second. Relax and I will keep saying things to you for you to look at and make decisions. You see four screens where the left two are your specific business, because your account is there. You can run the keyboard and I can edge you away from it if I want. I will write you a chack if I screw up your account. You will grow to understand the whole nine yards. we are in congestion so we both know the market cycles between up and down half cycles. If the congestion is wide enough (think very narrow with Jack Hershey picking up the tab) we are in the market always on the right side of the market. Most people get their pants taken off by whipsaws. I posted in the DAX thread about three concentric spheres. Scientist set up another thread because I was talking about ES as an example. The three items (spheres) are what provide the sequences of items. Volume picking up is not the first item. So when it picks up the trend is already determined by leading indicators of price. Volume is also a leading indicator of price. I speak cheerfully in a continuous assessment of four parts of the making money process. Data gathering, analysis decision making and action. the most common action i take is "hold". thereare no exceptions for me and no lapses as I get input (data gathering). It is a tattoo that goes ad nauseum. I have mental processes that are not impeded in any manner. I have a heart rate of 55 and I can monitor it by listening to it. You cannot do that. I can purposefully change the mental loop I am using and I can change the rep rate of the loop I am using. The market to me is a play box filled with sand and toys. All trades are telegraphed in advance. There are no surprises in the markets. There are very very very smart people trading in the market and our job is to trade ahead of this set of people. The key sequence I addressed in the three spheres stuff in DAX thread was how to stay ahead fo the very smart people. First the market comes out of neutral. The cash index moves about and the futures indexes preceed these movements although the cashmarket prevails in the place where the market is in value.. That is the pace and rhythm of the market. The offset of the pair has a neutral value every day. Sidebar. For an exercise, try noting what % of the market players know and use each of the points I make here. Start now for convenience by just using the above paragraph. Number each one. Statistically speaking, we are already in a minute group. After the offest is no longer neutral we are in a trend start uop but cash price has not moved yet as a rule. We check to see if the change in offset is sustained. The two actions so far are both "hold" or, if sidelined, "wait". Once a change is sustained, we have a "squeese" or a "stretch". i causally ask my trainee, if he wants to entry or reverse. Next we assess the DOM and continue to make sure the squ/str is maintained. Bbid/Bask is the top row and we watch the change wheter the squ/str is confirmed. we sidle over to volume and tab the prorata valuse that have been occurring. We glance at the price bar and see if the activity is at the squ/str end of the bar. we have about five hold/wait decisions during this process. All is slo mo for us compared to the market actions. We are running mental cycles at 12 times the snapshot rate of IB and we know if the snapshoots are regular or not; we know the offset of qcharts to IB by a DOM/ T&S comparison. I read IB as time passes as well. rate of news reading is about 1400wpm. (Vertical fixations instead of "being a reading typewriter) My comprehension is not off the mark usually. I restart paragraphs until I have the topic clear and I automatically dance through alliedcollateral material. I use gates eye exercise glasses daily and my prescriptions are set to 68cm so I can roate through the screens that are arrayed 68 cm's out from the axis of my seat. By the time the sustained squ/str, the DOM is cycling at a "start trend values", the volume is pinwheeling,and the action is at the corrolated end of the bar, anyone can punch the preset T on IB workstation to act to enter the trend. "wait" is over. "hold" becomes a reversal, meaning act to enter new trend. Beginners and intermediates on their own use the MACD, STOCs, volume and price. the above is beginner in the context o f"smart money" monitoring. The nice part of it is being able to push the risk issues right down to the floor. I used poor shorthand in the sentence you focused upon. I hope in the above essay, you have seen how the "offset" is a leading indicator along with the DOM and the prorata volume compared to price trending beginnings. Once in the trade you monitor it's continuation. you look at it continuing with the same stasis. Time advances and end effects show up and /or flaws appear. You orient to optimizing profits as the risk of remaining in the profit making trend continues. Smart money is a resource you have that is of very great utility..
You do the opposite with DOM that I do. You are a person who is in the Nobel prize majority set. My view is that the top line is most important and I watch the middle line and the bottom line as well. The principles of competition prevail in the marketplace. I read your statement as paying attention to those not in control. I do not care about who is not in control. I focus on where the action is at all times. I know there are other viewpoints of how the market works. I deal only with how to make money and make it continually. There are two issues here. How to address your viewpoint which is held by the vast majority. or How to use the monitoring data available to make money. Awhile back I posted on the detail of market action. the picture was a table where trades are done. leading to the table are two lines of traders, all bunched in groups that they joined. The groups go back from the table according to how they relate to the trading going on. The DOM shows this. You look at where more people are and I look at where fewer people are. In competition, the minority control the market. In markets the buyers and sellers only ever meet when they have just one and only one thing they agree upon. As nononsense found out belately, I always have to pay a price to not be in any group. He could not understand my picture because it has one more part he missed. Anyone who wants to trade using timing, strategies does not show up on the DOM. Belief me there are many people showing up on the DOM and dancing around by popping in and out of groups, etc, blah blah.... they are not making any money at any time they are doing this as a strategy. I sit at the desk and not in any group. I view the groups there and step infront of them by paying a price each time I trade. timing to me is very important. I watch to see groups used up. I make more money when more groups are used up. I do not care which side is being used up simply because I am already on the proper side as each popportunity appears. As you watch the DOM translate from one bbid/bask pair to another, I am positioned to see that I am in the market holding and watching these translations. When they do not continue to "rise" to the top on a given side, I switch to the other side as it begins and continues to rise. Each rise of the side I am on causes a big number to appear from just below when the prior value got to nothing. The new big number shrinks and it's opposite on the top line grows in value. I have other indicators that I use to corroborate this translation of the DOM. They are smooth and and predicate the strength of what is progressing. While you look at the big values on DOM and give them a credance based upon your beliefs, I do something else to continually make money all the time. how to maintain a process for making money all the time takes an effort to be properly oriented mentally. When I return to completing tasks, I will introduce the mental aspects of of trading. The fundamental subject is PNI. It is kind of like an AIDs construct. Failure in trading is almost lethal to the mind. Continued failure is almost impossible to recover from. Learning, memory and reasoning are at play for people in their lives. Some of them show up in the financial industry. All have backgrounds. Myths abound there as we know. Zoom in on the trading world part of the financial industry. Zoom closer to ET. Do you see any knotheads here? Do you see people here who "know it all" (translation do you see people here unwilling to lrean from anyone?). Do you see people here who assassinate others with words? why? Zoom into people who use words like "ridiculous" and KNOW in capital letters and edu addresses. When a person's immunology system with respect to metal processes regarding making money is busted, how do you get the biochemistry to begin to function again. Ari Kiev addresses it. Man, he does it daily for his psychiatric clients. He prescribes and he affects regimes for them too. I am requesting that people in ET conduct several necessary things to get straight and do repairs. Putting me on ignore is a very good idea for some people. You will see less bashing of me as time passes. People are often screwing themselves over by bashing me. Rethink what you are doing with the DOM. just do it as an intellectual process. keep a jounal of any emotions that surprize you if they ever do. Make it a point to continue to debrief yourself. Which BTW you are dioing very successfully right now.