Your chart today should have one line (on ES) -- a horizontal line across volume at 4500 on the 5 min. Notice that almost the whole day's volume is under this line. For me this means noise and noise means sideline... high concept number 2: pace. JT
...thanks very much for your thoughtful reply. I guess I am just too literal minded. As to the generational issue, the first computer I ever touched in high school was a donated IBM vacuum tube model with open air mechanical relays. The first electrical system modelling I ever did in college was on an analog computer. My educational background is almost identical to his. I should be able to understand him (My God, surely I am not Jack, a multiple personality alias disputing with itself?). Thanks for boiling the credo down to those four catechisms. Makes sense.
...I trade NQ, but I get the point. I was a sideline day. Thanks for the tip. But it was a very entertaining day for voodoos (that's what I affectionately call VDU's). You can't get much more voodoo than 1 car per minute! Possibly another indication to take the day off was that the NDX/NQ premium had few significant excursions, and they did not augur significant moves. Also the VWAP went into cardiac arrest around noon.
HA!! ya know for all of his verbose-ness he is extremely consistent. To date myself the first computer I touched was a PET computer in *elementary* school... digital system with a casette tape drive. I studied some electrical engineering in college so I have done analog circuit analysis in that setting (inductors and capacitors -- convolving, phasor domain, transforms -- UGH). Pace is still crap on ES... maybe fish will bite tomorrow. http://www.bradfordtimeline.freeserve.co.uk/g1977a.jpg JT
...with two narrow range days in a row the Toby Crable devotees will have itchy trigger fingers. That might be a good filter to test. Does two in a row make the market tumescent or give it blue balls?
...to all my aliases, some of whom I didn't even know I had, for their fine support of this thread! Bye bye!
Your effort should be in trying to understand the market. Following Jack's steps should lead you there if you take it step by step. 1.Trade fast paces only using rockets. 2.Trade slow paces using icebergs as a way to elongate rockets. Need to know #1 first. 3.Use a timeframe above and below the trading timeframe. Use pairs to make analysis and tendencies in relation to what you learned in #1 and #2. 4.Use #3s tendencies on multiple timeframes all the way up to the quarterly(migration). I probably left out a lot of stuff but this is the main jist of what I have gone through. In the end, you will probably have at least 2 accounts. 1 for iceberging and 1 for rockets and slaloming. When not trending, use the 5 2 3 to slalom. A lot of people will disagree and I can understand why. It is not easy and I still learn something new everyday. Its an ongoing process. good luck.
hypo... i wont argue - you probably know more than i do. but what have you shared on ET that works? What? Tell me one thing. So get off your moral high-horse. You're not much better than Jack in terms of contribution to ET.
Actually, you're worse because Jack actually tries to contribute some specific material (although it might be arhaic BS) but at least he tries. You on the other hand don't even try. "Stangely enough, I am in accidentally in a Jack trade now in NQ, a VDU/inside bar/BO. But for different reasons which the Great Hypostomus cannot disclose to the unwashed." Humor and doublespeak aside that *is* your real attitude. And it's rather ugly.
Not long ago, you were asking for help because you were running out of money. Are you suddenly profitable?