I had a bunch of discussions about the bullshit being taught by incomplete zen quacks. darkhorse came in with a great analogy about climbing a mountain or taking a ride in a helicopeter. Hers is a followup he wrote later. It shows while BE is B.S. for most. ----------------------------- By darkhorse personal honesty is a powerful edge. i'm not clinically trained, but from what i've read and experienced it seems clear that the subconscious does not understand deception. it simply doesn't speak the language. end result being individuals who are not honest with themselves in their assessments are unable to constructively dialogue with their subconscious. the level of communication is more like a continuum than an on/off switch imho, w/ zero being oblivious and 100 being perfect communion with one's inner self. the more we cultivate this connection, the more ability we have to control our emotions at will and tap into them as a constructive energy source. we also gain greater and greater access to sublevel input, enabling the trader to do more with the information he or she is processing. but the reason this process is so powerful is because the personal honesty caveat makes it a two way street. simply put, if you are in the habit of fooling yourself or lying to yourself, your subconscious will know and understand that, and will act accordingly by discounting or short circuiting your conscious commands. in this case, the judgment process is wholly internal. if you are in the habit of deceiving yourself regularly, then you ARE a deceiver in your own eyes- regardless of what you say or believe on a conscious level- and your own personal guidance system will register as such. again this is a matter of internal assessment rather than objective truth... but objective truth plays a role just the same, because at some point an inability to access perceived objective truth could lead to a "judgment not trustworthy" feedback loop. this is why some people appear incredibly 'aligned' while most do not- in accepting reality as fully as they can and striving to attain the greatest degree of personal honesty possible, they open a dialogue with their subconscious and are thus internally united on levels most cannot attain due to conflict. (deluded people can move with great purpose as well, but that's a different thing imho-in which they are being driven and herded by some impetus so powerful it drives out contemplation and eventually drives them to destruction, or they snap out of it one day and feel as if they'd been possessed.) for this reason i've always been skeptical of the tony robbins/napoleon hill "what the mind can conceive, the will can achieve" type stuff. while there is an element of truth in such sentiments, the typical temptation is to force feed your mind stuff that it is not prepared to believe, food that it does not want to eat. and while the conscious level is saying "yeah fool me, fool me!" the subconscious is going "yikes, i've got to protect this guy from himself." once you have a dialogue, though, it's amazing- conscious and subconscious can call truce and stop playing tricks on each other. no more fears you don't understand (or at least a lot fewer instances of fears you don't understand). no more seeing your emotions as a treacherous deceiver. you still have fear- but only when there is good reason to have fear. it becomes a precise navigational instrument rather than a blanket thrown over your head. as i think i mentioned in an old old thread, you have to climb the mountain yourself- you can't take a helicopter to the top. this means confronting all your areas of personal dishonesty, no matter how painful - and not just once, but on a continual basis - if you want to have access to the raw power that being fully aligned via emotions and the subconscious can deliver. the greater your ability to sense conflict in yourself and others, the closer you will move to a one to one correspondence with reality. "waking up from the dream" is a lifelong journey, but well worth it- reality is so much more glorious. careful though- a journey through one's inner depths is not for the faint of heart.
Do you find the occasional call near a top or bottom to be less believable than Jack's assertions about regularly making 3 times the daily range, or averaging 4-7% a day?
I know virtually nothing about Jack's methods, but I have come across the ubiquitous reference to FTT (pronounced "Phtt?") in more threads and posts than I can remember. And, if you look at their 5-minute time frame, it would not appear that such a phenomenon had transpired by 10:04 EST, which is when Hypostomus said he entered his trade. If the Hershey gang were in, I would think that they were still long at that point. Thus the anti-Jack reference. But I am just a stander-by. Perhaps one of the principals would care to confirm or deny.
Failure to Traverse or FTT (pronounced the same as the letters in the American Alphabet) represents a change in market sentiment. While the FTT does provide a signal for change, it is by no means the only signal for change. However, I do recommend all beginner traders learn this basic market signal. Since the previous FTT occurred within the 9:55 AM bar (when the market provided a long signal for the ES), many no doubt entered long at this point. IF not (meaning they missed that signal), When Price broke the right trend line of that down channel, the market provided its second signal to head long. Using only the tools currently discussed in the Futures Journal, the next signal the market provided occurred at 10:10 AM when the market signaled to head short off another FTT (and another Point Three Down Channel). The market continued to provide signals of continuation until 10:25 where another FTT signals another change in market sentiment. Individuals who are not trading at the beginner level (intermediate) received a signal to head short near the high of the 10:00 AM Bar for the ES - specifically 10:03 AM when the STR / SQU signaled short. We begin the STR / SQU discussion next month (April 1) in the Futures Journal. Individuals trading at an Advanced level used the DOM to locate the 'Wall' which prevented price from heading higher and road price back down from that point. In addition (and irrespective of experience level) one could have simply monitored the YM for continuation or change, and applied those signals to the ES. As early as the 10:02 YM bar, the YM announces its intention to head lower. Hopefully, these answers provided the clarity you seek. If not kindly let me know. Congrats to Hypo on his profitable trade. - Spydertrader
Rateesquad. You're absolutely right. I missed the peak by five fucking ticks. I'll try harder next time. Here's the fucking execution report. You may now apologize for doubting ET's (self-proclaimed) greatest NQ trader. Yah. Yah. I know it was only one car. And thank you, Spydie, for the kind words. In return, I will stay away from ES so you can continue to make money there. And Thunderdog, thank you for not doubting me. But I am sure you realize there MIGHT be a reason I didn't show the trades that preceded that one lucky shot, hahaha! (Actually, not lucky, three different independent codes called it nearly simultaneously. I actually entered it LATE, as the codes called it the MINUTE of the peak, but I was so deafened by the audibles' racket I couln't take the trade then.)