i tried it out myself (in my own way), i kind of like it too. and i ain't too bright. thanks lurker, i read through your prev. postings. just a matter of which way you understand skinning a cat, and then which way do you want to skin the cat. or is it vice versa? understanding the cat's anatomy makes it easier (re. the whole of jack's stuff). i'll paper trade this till i feel comfortable and then try it live. hope i don't make an arse out of myself in the process, lol. looks like the opposite of whipsaw to me.
Yea Dan. Jack has said in many places that there are lots of ways to make money. In all of the work I've done learning Jack's stuff trading manually, I've always kept another PC up with my system's trading tools. It's helpful when Icarus, BA, Easy and occassionally, Etlurker will tap us on the shoulder from time to time to show us the low-hanging fruit. It's been said already, but channels and volume are the two things that seem to prove themselves over time... and here's yet another example (from my system's trading PC).
Well darn. All this time I been bustin my butt tryin to learn sct and its really this simple? We'll all be rich shortly, I'm sure. Let us know your results Dan, please.
Examine your need for trading to be complex. Do you feel undeserving of "easy" success ? Does it sound "too good to be true" ? We're back to the mental realm.
OK. Please tell me where to place the stops and how wide they should be. Do you enter on a touch of the upper/lower band? When do you exit? If these are already noted in past posts I will be happy to go back and find them.
i'm sure you have some past annotated charts with channels drawn on them...why not overlay one of these channels on top of that and look at the similarities and differences. if it's possible to effortlessly be consistently on the wrong side of the market...why is it not possible to effortlessly be consistently on the right side of the market? that's just my personal perspective and one i have held and maintained even while being an unprofitable trader. maybe we should call it dynamic simplicity. it all comes back to MADA. channels are a mechanical framework for the most part...so is the basic PV relation...but it all needs to be evaluated dynamically, NOW, correct? i still don't believe it's necessary to have multi-point losses on a regular basis in order to make yourself available for profit opportunity. The wash trade is half of everything isn't it? the other half is making money right? to each his own i guess. everyone who succeeds carves his own path eventually...though they all go in a similar direction....say EAST, whereas losing traders are going WEST and they follow their own individual paths too. what was the point of this post? i don't know. "just do it", i guess.
If I didnt think this was possible I wouldnt be trying to learn Jacks methods. My objection was in making it sound easy. You found some problems when you attempted the 30 min. bars and you will find even more trying to trade the bands but I wish you the best in your endeavour.
what does an increase in vol. and a move of price from the mid line to the outer band look like in jack's language? what does a falling off in volume and a return from the outer band to the mid line look like in jack's language? just do a 2 bar comparison for simplicity's sake.