Sloppy looking fractals. It just seems like using the word fractal embellishes the reality of sloppy market patterns generated by flocking behavior, which tends to repeat itself, but not very well, at least not as well as a real fractal.
Jack, I very much appreciate the time you take to explain all of this to me. I don't know you, but so far you are speaking in a very complex way that seems to make what is simple into something that is harder than it needs to be. You remind me of a guy in a mIRC chat channel that I used to go into during the forex trading day. He based his beliefs off of some sort of "in-the-moment" Buddhism where he would only try to think in present terms so that no emotions could distract him and when he would look for a trend he would squint his eyes so that he would see with his mind and take away the noise of the market. He was a great guy, very patient, and a lot of help. From the picture I see what you mean as far as "nested" and by "fractals" I had to look it up and see what it meant, but it makes sense in a way. I'm not really sure that I can comprehend how to always be in the market, but that is ok because I am developing my own strategy that gives me only a few setups a day and I am ok with that. I also want it to be known that although my first post here was only a few days ago, that does not mean my education or knowledge in the financial markets began a few days ago. My experience started in 2003 when I was introduced to the stock market. I bought stocks on tips or opinions from the person who introduced me. It just so happened we were in a bull market and I made some money on all of the stocks I bought, but not enough to really make it worth anything. In late 2004 - early 2005 I started foreign exchange trading. It didn't last long as the forex markets were generally slow moving and I got bored of it. I then took a break for awhile, getting into some mutual funds and a Roth IRA. In 2007 I went to start trading futures, but withdrew the money after a month of not trading even 1 contract and didn't want to pay the Tradestation fee. Now, having quit my full-time job a few months ago and not knowing what I want to do with my life, I am making another attempt at trading giving it my full-time effort. The art of daytrading is particularly new, but the concepts and ideas behind charts isn't. My biggest problem is the trading plan and how to find high probability trades while trying to take out all of the guess work. The guess work right now are my exits and that is my biggest problem. I will end this by saying that today I was 2 for 2 in profitable trades ending with +4 points ($200 before commissions on a simulation account). On my first trade I micromanaged the stop after price moved 1 point in my favor. It just so happened that I moved my stop to 3 ticks away from my entry beneath a low and price never returned to that spot instead going to my target for profit. I could have taken 2 other trades, 1 that was not exactly my setup, but one that made sense to my subconscious, and another that I found on the 15min and bounced exactly on the 5min where a perfect entry would have been and that actually worked out exactly as I expected. Both ended up going to target. I don't like to play the "woulda, coulda, shoulda" game, but I think I'm starting to "get there" in some way when I stay disciplined and confident.
================ Jack hershey, I was absolutely fascinated by your dialogue of fractal concept as related to trading, but I am very hesitant to ask some basic questions especially in front of the most skeptical audience here. Is there any link you could suggest for me to read on to become familiarized with the terminology and fundamental concept? Thank you!
try this http://www.elitetrader.com/vb/showthread.php?threadid=203194 A must to read here http://www.elitetrader.com/vb/showthread.php?s=&threadid=113310 and . . . http://www.traderslaboratory.com/forums/f34/price-volume-relationship-6320.html#post70027
Your best bet would be to "google" spydertrader. Then review the ET threads which have millions of hits/year and/or go to active threads on other websites. Usually, there is an archiving effort going on somewhere. At these places you can download hardrive book quantities of info (detailed stuff) on video, audio and documentation. I am an amateur by NFA standards but not a 501 (c) (3) by IRS standards; this means I give away everything and do not pay taxes on anything. Long ago during the floppy era before ET, there were ATS's available (See places like MSN, misc invest. Worden Bros has (had) an ATS with a Sharpe Ratio for equities that is over 60. Raging Bull has a lot of live trading calls for high beta type stocks; most are before ET existed. This thread did a nutshell version for a person who I thought had the potential to grasp opportunity. Asking questions here is not a good idea sincw it qould divert the OP from his current tasking. It is not a good idea to "take over" a thread by going in a different direction. Edit: See the post above for starters.
Or it could be that it seems over your head because it's nonsense. I recommend skiping any posts by Jack Hershey if your time is worth anything.
It is a shame you don't ready the journals whose sites are posted above. Jack Hershey's methods definitelywork. It is logical and geometric. Thousands of people from all over the world follow his methods. You have to study and do the work, though. If it were easy, everybody would be doing it.