I have to imagine Jack would be a fantastic teacher/mentor in the proper setting, but he stated early in this thread that is not his intention here... http://www.elitetrader.com/vb/showthread.php?s=&postid=826978&highlight=teaching#post826978
Most newbies dream of making a lot of money quick when they start trading. I was not one of those fools. Stupid Stalker thought daytrading was more like a job. You learn the profession, invest some money and make a little extra. I thought it seemed like a good half-time job. I´ve been pretty successful with whatever I´ve done in life if I´ve just worked hard, so I thought the odds of making it in this business was actually pretty good. Couldn´t imagine it was this difficult. Stalker frustrated today, tomorrow Stalker happy happy sunshine again...
FOR THE RECORD! I have sat in a 1-on-1 with Jack for nearly several hours over the course of a single day. I can assure you that his health does not permit such an extended period of time. Anything more than an hour is borrowed time. His medical condition is a very serious matter and I was very reserved about having Jack extend any period of time. Rather than fire Q's, I listened the entire time. That was all that was needed. Another ET poster was also there. The session was unlike any thing I have ever had the pleasure of sitting in on. To say he cannot teach is speculative. The discussion and instructions were concise and straight to the point in laying out the spectrum of what is what in addition to the potential of what is available. SEVERAL things struck me from the session, one being Jack's M.O., no different than what you find here, second his acute ability to draw pictures cleanly upside down (he sat opposite us), and third his quick reading of knowing exactly what my questions were at particular moments. There were several great aha's that day. The first being that I had correctly understood the majority of what he has put forth in this board, and the second being that everyone is capable. When you have been refining something for as long as Jack has, you have in a sense mapped out the entire landscape of how to get to the summit. Unfortunately, alot of us want to do things on our own terms, I too am guilty at time of this fact. For someone like Jack, it is frustrating to notice individuals jump on to a percieved path that is not fruitful and/or excellent. There are a few individuals like Jack in these parts. ProfLogic was another fellow who I regard. I have sat with Prof and as a result can SCT strictly in accordance with Prof's environment. The spectrum is broad, paths many. The problem often is that we often try to rock climb to the top as opposed to taking a path of steps to the top. Rock climbing looks quick and doable since it is the shortest route. The steps just looks labor intensive and indirect. MAK!
What chart are you guys looking at?. The daily chart looks pretty rangebound to me. SPX is right about where it was in March. My own feel is bearish but its not from the charts.
easy - there are a ton of red flags up -- - yesterday was a DU day on daily ES - Left side of L-R of LT S channel. - FTT of IT long - last volume peak was red on 30 minute chart - odd harmonic cycling for 2 days on falling volume - sym pennant today on the 4.
also the book has been saying short all day - so has str/squ it's at 17 right now... EDIT - scratch that 17 - my INDU feed is busted
what do you all think of this chart? just for fun gotta be about the best example of the fractal nature of the market eh? 1-2-3