continuing todays recap L 1267.50 S 1269.00 +1.50 L 1270.50 -1.50 S 1271.00 +.50 L1273.50 -1.5 Out 1275.50 +2.00 Net 1.00/contract before commission 5 rt @ $5 = 25 Net Net for today $50 - $25 = $25/contract Cumulative Total $25 I will repeat this drill as is for awhile and then add iterative refinements.
So I take it that this is just a base system on which the trader should look to improve upon? It is also one of 4? Where are the other 3? Can curiosity kill the cat? I would say from looking at the text that markets do tend to spend lengthy times in congestion, and this it would seem is a trend following approach. Therefore, I can understand the comment that this will get the user killed quite quickly - especially in conditions we have seen before the recent break. But, that is why this is a base system and needs further development. I don't understand why the trade is cut short on rule 6 where the trade is reversed. Who says markets reverse after 3x 30min bars? In a trend following system, isn't it best to let the trade run as far as possible? Am I missing something? The example of 23rd May is a good example, and such runs inevitably help us become whole again after the earlier chop that occurred on that day; and indeed other days that start in a tight range. Am I speaking out of turn before the whole picture is revealed? Just thoughts....
Just send the folks over to: http://elitetrader.com/vb/showthread.php?s=&threadid=69672&perpage=6&pagenumber=6 easyrider covered the bases with two posts on how making money in ES works six years later than the base line post you put up yet once a gain. I am not going to post here any further. There is zero chance that you are going to do any different than you have in the past. Whatever your mission continues to be, it is not desirable or necessary for me to be part of it in any way.
so in order to get this sct shit going, you need: 1. es chart 2. ym chart 3. channels 4. volume 5. market depth 6. 3 indicators 7. market pace 8. several different timeframes ... what else?? and now would anybody believe that you can mix all those elements together and get something out that speaks a clear language in terms of signals - and this 6 hours per day every single day? i mean ... - i mean - would... would you?? L M A O (here we have a 73 old retard who tells us he is doing this all the time - but not only this but also the equities thing and some other things as well - all at the same time - wow - time management !!)
Jack said he's not going to post here any more. So below please find my Jack Hershey Cliffs Notes, made almost entirely of direct quotes from Jack himself or A Team documents with minor editing. I believe these give anyone contemplating trading Jack's methods an excellent idea of where he's coming from, plus a concise guide to trading Jack Hershey Style that's just as clear as anything this is summarized from I speak from an orientation IBM made when it had 80% of the worled market. IBM assembled folks in Poghkeepsie and later Eurpoeans in Kilchberg Switzerland. I am a product of the US science search of the late 40's to early 50's and also I lived in the peculiar climate of BTL then the Darvas period of NYC and Greenwich, Conn. I was bouncing from Shockey and Shannon to Princeton on Tuesdays to Science Fairs on tesla and half lives of radio active elements. My preferred dining place in Princeton is the Princeton Inn. I played cops and robbers in the Firestone Library when it was being build (as a guest of the contractors twin children). I am not asking for snow conditions at Whistler or where you dine in NYC. For the markets I sight several data characterisics not at all familiar. I don't do edges. The B Team has it all understood and is stuck in a place that is different than my views. Franco Modigliani recently of MIT had the theory for sure. Modigliani determined, and WON he NP for a Contribution. I abide by his remedy. Therefore by my pro active behavior, I have an offer in support of the remedy. As time passes and you look at stuff like Norbert Weiner and Richard Restak you will find out how impressive the first steps are. It is not a coiincidence at all in any way what so ever that the dream team is saying things about integrating the sewweep focal points and saying the inferential things they say and that B has had a eureka on the channel overlap. This is what Barbara Marx Hubbard was suggesting in her oncept of sinergistic convergence among isolated groups that merge into larger common purpose groups. Doxiatis out of greece did the same with Ekistiks, the science of human settlements. Surf the gaussians on the lower fractals to do 4 to 7% a day. 1% a day is underachieving. You can have 7/8 winners. Non performers give you cash for performers. My best net to dat5e was 17 points on a 100,000 shares in the 30 dollar exit range. Taking half that out of the market is a normal way to operate for me. The four levels of Icebergers exist. Level IV enters on 50% crossover with divergence of the fast stochastic lines. Level Iâs enter as do rocketeers. Levels II and III enter using the rocket rules on the fast stochastic (5, 2, 3). Levels I and II exit when the fast stochastic comes out the other side of the 20/80. Level IIâs reverse into a long trade. Level IVâs reverse on the 50% where lines are divergent. Confirm your iceberg entry and determine that the iceberg is now operating at low risk. Follow SCT rules as superceding rocket rules. All the indicators are designed for integration over a spectrum of fractals. Use three MLR's and measure the rate of change of the three pairs of angular velocities generated and use something kindred to the algebra for base five as a starter. Backtesting is not a viable means for finding anything out. The reason why is fairly straightforward to determine. If you are backtesting something and you feel you have grasp the thing you are backtesting, then you have failed to really grasp what (the thing) is going on. It is not possible for a person who does not know what is going on to back test this stuff. I have stated it. And it just flows from there using boolean algebra. Lay out three ring binders with annotations to scope out and bound the PV relationship and detail the SCT paradigm. Together it will take you at least 2000 pages. Print on the left side of the binders only and do it every day at least 100 times on all fractals. Put a tab in your binder labeled CC. (compare and contrast). CC is excellent as you can read. All annotations take as much as possible out of play. You will have assembled it and you can go through it and figure out in detail all the things I did to produce the stuff. This practical method is condensed from camtasia replays where about 3/4 of the stuff is removed. Someone will get you there if you do not have all that stuff in a binder. It also has all glossary terms in bold. A walk in the park is the place to start. In the past ET has seen blank forms and filled in forms from me. They have seen me post combos as well for the $600 per contract that is where you will be operating. The record is there on this and you have seen it and and you are doing likewise I am sure. You will notice that you are now getting in gear on this.
Some people can't chew gum and walk at the same time... In an orchestra, there are many instruments who's collective sound create the rich sound that the audience enjoys. Have you ever looked at a conductors sheet music? It show's PRECISELY where and how all the music for each instrument lines up with respect to one another and the piece. A few of my friends were gifted enough to be able to pick up a handful of instruments that had widely different fingerings and then sight-read the music nearly perfectly. Skilled conductors may have the entire program of sheet music committed to memory. Some can even pick out the most minute flaw in an instruments tone (sharp vs flat) out of a chord constructed from the sound of an ensemble of more than 100 musicians... The point is, with experience, you acquire the ability to add capability over existing capability, just like playing some instruments provides easier flexibility in playing other instruments (ie. piano). Think of 1 through 8 as different instruments who play different parts of the same song. Any one of them can be taken into isolation. The difference between 1 instrument playing the song as opposed to 8 is similar to the difference between a monontonic vs polyphonic ring tone. Ironically, or perhaps not so, one is definitely richer (lol) than the other... . MAK