Price does not move in channels. Stocks (companies) dont give a whoopee about channels or people who believe in them. Prices move to constantly adjust to market expectations, etc. For people trading them, prices move through an "infinite" space of prices, constrained by recent price level. Millions of people pull at it long and short. The market does not have channel memory. It moves to match bid and asks until it goes to the next level.
I havent posted in a bit on the thread b/c I am doing fine with the stuff on my own now. Two other posters that i know personally are basically in the same boat as me. They asked their ques, figured out what they needed and are now not really as involved with the thread anymore. One of them has been making 4 figs a day consistently, still with small lots (under 5). Probably has something to do with the volitility as well but he has been up 28 of the last 29 days so consistentcy is there too. There are probably a bunch who have fizzled away b/c they werent seeing progress, but keep in mind the other side of the coin too.
Just curious. What kind of average-win-to-average-loss ratio do you or the other two guys have, and what percentage of your trades are profitable? Ballpark.
Cant speak for the other guys' details but over the last two full weeks I've had one loss, one breakeven and the rest have been profitable trades. Two weeks ago I was 16/16, this week I was 18/20 (didnt trade Monday the 6th as I had a commitment), one being a loss (1.25pts) and one being a breakeven trade. As you know, I recently was married so I was on the honeymoon for the 2 1/2 weeks prior and didnt trade. oh, also my style is more small ball. My trades range from .50-3.5 pts on avg. I dont hit homeruns, but a good amount of singles and doubles.
Thanks, I always shoot for consistency first and I dont mind seeing others catching 10pts, 15 pts etc. Thats not really my game. I am happy though that I seem to be progressing.
There's something here. I wonder whether anyone could find trends/channels in a sequence of random prices.
No, no, no. We don't know that Spydertrader is practicing Jack's method. Just because he names it "Jack Hershey Method," doesn't make it Jack Hershey's method.