QUOTE]Quote from jack hershey: I first the day begins. You wait for synch. You use 5,2,3 to enter time passes and you use 14, 1, 3 to exit. You see that the next entry is 5, 2, 3 and it's exit is on 14, 1, 3. This is the way it works. When you are in, the 14,1,3 takes you out OR the 5, 2, 3 makes you REVERSE. Sometimes you have to stay sidelined since there is no 5, 2, 3 as yet to take you in. As you see mistakes are made until you have done about 50 of these consistently. I noted two things: mistakes and extensions of holds that result from several things acting in concert to prevent an action which is not certain --------------------------------------------------------------------------------- Not perfect but I have tried.
PointOne, As I said in Futures III, for me, the general purpose of a question in forums such as these is to attempt to stimulate discussion. That's all. The extent to which we can feel truly comfortable with what we think we know is, IMO, measured in how we deal with questions concerning our comfortable state. I sincerely thank you for your honest answer concerning the harmonics. It is one of the more intricate areas of JHT and that is why it is interesting to me. If and when I think I've figured it out I'll let you know (but I ain't there yet). lj
See attached. I did try to reply but the post was too long. After being informed of that I lost the post. I think I will continue to do annotations and I also will start to work in Word and attach the word documents.
Jack, thank you for your time and help. I marked 3 more charts with entries and exits but my computer crashed. When I reopened Ensign, all my work had disappeared. Iâm not giving up, I've started again. Although it is very time consuming, I believe by marking entries and exits on charts, I am learning and the subconscious part of my brain is absorbing all this information. In one of the parables Jesus says, âpeople look and look but they see nothing." How true!!! Although I had read the earlier pages of this journal many times, I hadn't connected 5, 2, 3 for entries and 14, 1, 2 for exits. I looked and read but saw nothing until last night when you posted the annotated chart, I âsaw it" then. It was an amazing experience!
Hi, callmate. Let's please discuss your chart when you get a chance. I worked on correcting my Feb 6 chart to see how we compared and I noticed that some of your entry/exit arrows were on different bars than mine. I marked these places by circling them in yellow on my chart. Could you help me understand how you were getting in or out sooner than what's happening on my chart? Also, there was an area that showed a bunch of reversals that you did not take. I'm wondering how you thought about that area and why you didn't reverse all those times. Was it due to what's happening with MACD (in low volatility land and lines sort of entwining near -1)? Oh yeah, one of my green lines was wrong so I put X's on it. You were right that the stoch crossed before that second green line. Thanks a bunch.
from 13:00 to 13:30 you need to do more annotations. I know it is difficult to juggle two rules concurrently. Be open to doing reversals to stay on the right side of the market. This happens to be the time that the settlement meetings of mutual funds come to an end and the pm trading starts to carry out the considerations of the settlements all over the place. We harmonize with this using the 5,2,3 reversals as required. whenever there is acall for an exit we interject that too. You can see that it is possible that occassionally every five minutes there is a call for action around this time of day. So you only make another point or so. You just happen to be equaling Greenspoon's performance with 25 contracts whereby he is using 400 and doing 60 turns a day. Same result: about 2.5 million bagged a year. (see prior attachment)
Padawan, it's getting late here, you will have answers to your questions tomorrow, my computer keeps crashing for some odd reason. You will note that I have taken MACD off my charts for time being. I have decided to concentrate on 5, 2, 3 and 14, 1, 3. MACD will be added later. My data may differ from yours. Don't forget that the chart you are referring to was my first attempt to annotate using 5, 2, 3 and 14, 1, 3 as entries and exits; I may have missed few trades here and there. Furthermore I was not able to connect 5, 2, 3 and 14, 1, 3 until I saw Jack's amendments; he further helped me by pointing out the reversals. Just read Jack's attachment, he is so funny; I nearly fell of my chair laughing. I think some of us are going to be one of those millionaires that he mentions; the thought is so comforting and makes me want to annotate more charts!