Well here we go again. Another Hershey Drill. Instead of posting his "log", maybe he'll show us all how its done and post his "prints" to the P&L journal as he claimed he would do. Wonder why he never shows real executions? Hmmmm.
Since Spydertrader is doing well I have to believe that there might be some merit to the futures system too but it is strange that no one will give any results when its so easy to take a snapshot of the IB execution page.
When constructing a home, common sense requires a strict adherence to the architectural design. Hammering nails and pouring concrete without regard to location insures failure. Rather than point your finger outward seeking the source of blame, I recommend glancing in the mirror. You have incorrectly drawn more than half your channel lines. No wonder most of your trades resulted in a loss. Unless you believe that Jack's failure to post execution reports in the P&L Thread somehow keeps you from drawing channels correctly, I recommend reviewing trendline construction. Otherwise, you come across as a carpenter who can't hammer a nail straight blaming the architect for his own shortcomings. Good trading to you. - Spydertrader
I believe a shot of Jacks execution sheet with 20-40 actions on it would do more to inspire people to take up the study of his methods than a hundred of his posts. If he showed a multiple of todays range I would become a believer in a hurry.
According to Oddiduro, the channel drawing method I layed out in another thread exploring that issue was in fact correct. BTW I am referring to 2 bar channels, the fastest fractal and the grey ones to which JH refers. To which channels are you referring , perhaps a longer term ? <image src ="http://www.elitetrader.com/vb/attachment.php?s=&postid=1098624"> And you are welcome to post your successful version/interpretation of the drill here as refutation.
Again for clarity sake. I did not say, "Jack posting execution reports would fail to inspire people to follow his methods." I did say, "Jack's failure to post execution reports doesn't prevent anyone from learning to draw channels correctly. Again, for clarity sake. I did not say, "The methods you described to Oddiduro in another thread were incorrect." I did say, "You incorrectly drew in your channels." Since you described your own efforts as "two bar channels" in the attached chart, do I really need to post a screen capture of how many channels were not constructed by using two bars? Compare your own nicely constructed white sheet with your own posted chart. Good Trading to you. - Spydertrader
There are no mistakes. Not every two bar channel is every two bars. But go ahead and post what YOU think are the mistakes.
O.K., fine by me. It's your money; not mine. I'll refrain from contributing to your thread in the future. - Spydertrader