I haven´t seen any one growing an account. I´ve just read texts on the internet, not simple texts but rather complicated, about a rather complicated method. I´ve got some help with this from people I don´t know, still on the internet. To imply that I´m the kind of person that just nods all the time... well I try to be nice on the Internet, I don´t bitch to much, I don´t argue with people sometimes even if I disagree. Maybe that´s stupid, I don´t know? But in real life, I assure you that I´m quite different. Someone pisses me off like you do he finds himself looking up at me from the bottom off his slippery shoes. Out of here...
mak, i would encourage you to keep posting your findings. it is the reader's responsibility to use or bypass the information. i can not participate in the discussion due to a lack of skill and experience, but that's A-OK. it'll be archived for later review. stalker, icarus rubbed me the wrong way too, but he was right... i have a trading demon that likes to invent things...it's not helpful to me. so i'm trying to ween myself of it. Friday, i think i was successful in this endevour...i hope to be again on Tuesday. so...he's not trying to prod, poke, or make you angry (well maybe he is, but there's a purpose)...he's trying to get you to realize something about what you're doing. 1. that you don't have results and 2. that you are not doing the things that will lead you to GET results. in fact, you are doing the opposite. you are treading further and further away from the place you ought to be. your DOM inquiries may be entertaining for you, but they surely aren't helping you GET THINGS DONE. that much i DO know. hope i didn't make myself look like a fool in the process of this post, lol. i have a tendancy to do that.
I was about to say the same thing. No way everyones needs can be met. Post away and let the chips fall where they may,
I assure you this is not the case. Every participant of this thread has a different starting point, we are all learning at different paces, and we are all focused on different areas at a given time. There were posts that you made in the early days of this thread that didn't mean much to me at the time, but they planted ideas that were very helpful down the road. Please continue to share your advanced experiences.
Stalker, the message from Icarus could be called 'tough love'. It was meant as a wake-up call, not an insult. IMO, we should be thankful anytime someone who is successful in what we are trying to achieve is willing to give an opinion of the path we are taking.
No need to worry. I won't disappear. We all know that ET is addictive. You can kill alot of time just sitting in various parts. I come here because I know and experience the potential day in and day out. I don't do the Trader P/L thing for flaming reasons. So Icarus and I are a tad different in where we operate. He is a pro for sure, and the delivery system for him is simple and always remains that way. This thread is like a second go round for some. It is a first for me and I'm working to lay out what is a simple framework for varying levels of expertise. Stalker, Icarus is not a flaming person at all. He is genuine with his statements. It is not intended to flame, just to say "slow down" and crawl. Crawling alone gets the job done (ie. Point A to Point B). Alot of what you see that I post I have paid for in both time and $. The cost of learning, testing, and verifying something new to my belief is fine for me. Reason being is that when I learn that what I am doing is not true, I just step back to the verified aspects and build from there. Many refinements that I iterate haven't panned out so to speak. But because prior successes are rock solid, it is simple to step back to the rock solid successes and move from there... It really is just that simple. We're all on similar paths but at different junctures. So I'm crossing the same juncture that Grob had crossed some 50+ years ago. But, I am walking across it... Crawling will get the same job done... MAK!
Just thought I'd attach a screen shot of a tool I built yesterday to assist with STR.NEUT.SQU. There's no code behind it but it captures what should be able to get the job done... I will monitor it next week for kinks and PM you fine folks the workbook and instructions on how to calibrate it. I've always had the issue Icarus mentions (ie. translating words written in ET to RT pictures). Anyway, a peek, BA_Trader provided the insight for constructing this. Currently, it is setup for a IQFEED DDE, but should be just as simple to hook in to any DDE... This shot is already calibrated for Monday... MAK!
Hey guys -- some comments: I consider myself being a little bit earlier in the process than easyrider (that is to say easy is slightly more advanced)... and I think I am a bit farther ahead than Mak. However - Mak is much sharper than me -- quicker to pick up this stuff -- and he may skip the step I'm on completely (the bastard! ). Icarus is an old hand and probably in a place where he is deciding how far he wants to take this... or not. Nice place to be. If I could go back in time and tell myself something it would be this: Trend lines - PV relation - 5 minute chart. This is all you need. As a set you get direction, risk and timing -- for some coarse level of consideration. This is GOOD ENOUGH to make a lot of money on 10 contracts. When you add finer details you get direction risk and timing for a finer level of consideration... and you improve your timing for the coarse level of consideration. But this is just the way to get close to maximum capital extraction. The maximum is worlds away from what you need. If you can't do part 2 very well -- then just use a stop and make it wide. It's called being sloppy and this is perhaps the only point where I diverge from the gospel. Sloppy, simple and patient will get the job done. If you can't do part 1 - drop part 2 and figure out why part 1 is busted. Hint: start with your belief system and your decision making process. Why would you ever even want max extraction? Because when you forget about money you think only about time! Wealthy people think about time - and it is comlpetely opposite in nature than money. Money is a resource that you have the power to take and time is a resource that you only lose. Ever. You are losing it right now. Who thinks about time? The elderly and the rich. (although I have found that there is a subset of rich who operate as if they are "poor" to avoid the emotional punch of the reality of time). What happens when you think about time? You start to use your time in ways that make the biggest impact on your world. Of course there is a transitional period when you euphorically spend for pleasure. It won't last as long as the rest of your life. So think about this -- what a chain of events!!! Logical - predictable - simple - but not obvious. Who is left at the end of the chain... expert trader who is concerned about the use of his or her time. What does that person do with their life? 1-5 is probably a generous estimate of those who get past the first hurdle. And there is probably another small number for those who go all the way to expert... and another small number for those who go from selfish hedonist or money hoarder to change affector. I know there is at least one guy who made it all the way. Mak has shown the most potential to go all the way to change affector -- I mean he is already operating that way here and now. Ditto for spydertrader - but his wealth path is somewhat limiting at this point. Stalker did not develop his decision making process to the point where emotions are insulated. Emotion can short circuit even the brightest mind... and I'm not just talking about learnig to trade. Personally - I am spending most of my time working with a guy who is building a software product that has the potential to make a big change in how businesses operate - by formalizing accountability and making workflows more efficient. He got his beliefs straight and made something that harmonizes with how things work in reality.
Makosgu. You have made an important move. Visualization is the first step in the direction of coding. Than you can BACKTEST it, hahahaha! THEN you will make an important discovery: nearly every Jack system element is so horribly convoluted that it is untestable. This complexity leads to the inability to make decisions with it, which you realize when you code it. If it is untestable, it is probably untradeable. Mike.
BA What a great post! A lot of people get carried away by the IDEA of sct. Its such a fascinating subject but as you say there is absolute no neccessity in it. I think Jack does it because, like the mountain, it is there. He takes great pleasure in extracting the maximum potential available and I doubt it has much to do with the money at all. Im sure he has all he needs. If you make 4 times the daily range times ten contracts or 2 pts a day times a hundred contracts it comes out the same. It has never been a money thing for me. Its something I would like to do because it is the ultimate trading skill but if I never get there, no big deal.