God help you if you are taking guidance from Jack Hershey. (Although I'm laying odds that you ARE Jack talking to himself.) If you can't explain your own trading approach or system in 30 words or less, you are on the wrong track. Complexity is your enemy.
Yep. I am completely lost again. I searched some the the terms. Rolled them around 'upstairs' for a bit... Modrian?
Don't worry for now. Jack just gave you an outlook what is still to come and I just jumped ahead. At the moment he wants you to be able to log the bar formations. Look at his log example. Can you say for each bar if you are allowed to measure volume? If you think based on your knowledge that the bar you log doesn't give you permission then put a "wait" in the appropriate column. If you think you are allowed to measure then... for now I will not add more because maybe Jack wants to explain this to you. Post one page of your log so that Jack can comment on it.
Let me answer that question. Notice the Modrian table has eight panels and they are in color. Modrian did a lot of art in the form of boxes filled with color. There are four types of trends. Set A, B C and D The Modrian table accomodates all four Two sets (A and B) are imcomplete trends. Two sets are complete Trends (Set C and set D). I have unsuccessfully explained all of this. Write Set names on the white space above the four columns. Put the incomplete on the left and the complete on the right. 100% of traders only know of one kind of trend. this is the set C color panels. I call this a complete normal trend. french fry posted his "take" on a trend. "The Pattern"shows the trading cycle and it is composed of two opposite complete normal trends. A normal complete trend begins. Geometrically it goes through three moves. Pt 1 to pt 2 is a move. Pt 2 to pt 3 is the second move. Pt 3 to FTT is the third move. So a trend begins at the FTT of the prior trend. All of the above is the making money variable meaning the variable is the dependent variable. for making money this three move expression is "contained" in a parallelogram. Point 1 and pt 3 set the trend slope and the Right Trend Line. A parallel line segment begins and is parallel to the RTL at point 2. FTT stands for Failure to Traverse and this wording means price leaves pt 3 and fails to go as far, while going from right to left, to get to the line originating at Point 2. (the LTL). I have written the above about a million times. If a person draws this 50 times he will have committed it to memory. now you look at the third column of the Modrain table. At the top of this column is an orange panel. At the bottom is a dark blue panel. If you go to my posts on the contents of these panels you see the n -1 and the n collection of EE's side by side. Orange is filled with the failsafe stuff. dark blue is filled with the routine stuff. You are in a normal complete trend as the market unfolds. So you use the Set C column with the orange top and the dark blue bottom. This is a data source you are using. We are doing RDBMS. You see the turn between the completed second move and the beginning of the third move which ends the normal complete trend. This is the n -1 turn. It is designated as a b, ND to D turn since that is what the turn function IS. As you look at the name of this turn as determined by volume measures, it is either orange or dark blue or it is missing from the n - 1 list. To be in orange it has to be a failsafe gizmo. There are two such gizmo's. One is BM, REV the other is BO, T1. The routine names are found in the 10 EE band lists; there are 35 names, collectively. Only a few are found in the n -1 column of the dark blue panel. There are exactly nine and I posted these recently. The Conventional Wisdom world has little information. what information there is, is not organized to any extent (the last 400 years of effort). A doji is a name that is 400 hundred years old. It has a function and that function is NOT on any list I use. the defining values in a doji do not deal with values found in trending analysis. So you have been given the contents of the 8 panels. you have been given where each panel fits into the four types of trends. you hae been given the definition for each type of trend and the types have been put into two categories. This means that you can do this automatically using the Algebra that the market has said it wants used. Getting to the appropriate panel is dictated to you by the market. As we all see all of your minds are working. Your minds (the open ones) are asking for help. When the mind gets these words into it and you sleep for a night, then your mind works for you as a team player. Today the net was 42.5 points per contract from the market's offer. A normal margin of 30 points doubles your capital at settlement after the end of this day.
Mndrian table is the same as Johari window I guess,JH applied the Johari window(Mondrian table) technic to the market to interrelate the market pieces.Colors are used to get a better grasp,sort of visual aids,but not everyone is a visual. 56 pieces JH uses,56 pieces in Johari window technic.Cool!Jack Hershey is amazing,isn`t he?No one i`ve hed of will go that far.
Immediately after reading the words "incomplete" and "complete" it made "click" and some of what you wrote came back to my memory. Thanks for the explanations! Let's try to advance jered in his understanding. Don't overload him with too much information. Just little chunks. Step by step.
Jack,there are no parallelograms on your attached,i only see sort of the regressions there.You don`t use parallelograms anymore?Also,i think it`s a bit too early to introduce Mondrian table at this stage.Why don`t you keep it for the last 3-5 days of this training process. sincerely
My advice to Jered at this stage would be: Stop asking JH,and start to annotate sub-BBT(get the JH method vocabulary) channels bar by bar EOB basis with certainty so you can never get wrong about the right side of the market. With sub-BBT, you can build BBT and then Tape, etc. I have shown you some common Sub-BBT annotations with the ten cases on the attached picture. It is not exhaustive.Start doing it over weekend manually,so you can concrete the 10+/-11 cases entirely.Next step would be to get understanding of the Pattern which you can construct by using Sub-BBT - bar-by-bar annotation. The "Pattern" is in the attached. p.s.If someone have a complete JH method vocabulary,please post it here.
Jered,you are very far from the correct 10 +/-11 cases Tape annotation,you won`t be allowed to move further at this stage.Take the weekend to get the job done!
Important! When annotating,keep in mind that every bar formation(8 cases),except of the XB and XR,have a one bar value.That means you`d only need the first bar of the formation for the volume annotation,later on.treat every formation as one single bar.Same principle applies for drawing lines and channels.