There are three "T's" they are not conventional as you suggest but they do fit in nicely. ST is Short Term IT is intermediate Term and LT is Long Term When you get into trading and investing you will find the LT is a break point in txation stuff that politicians thought up for some reason or other. Get a new search engine as well.
Thanks for the charts txuk! Could anybody explain this for me in simple words, it comes from the preflight check: B. Volume is/is not scalloped and working for yesterday. If not didn't get am/pm side of scallop yesterday. All market indicator volumes were _________ ysterday. Expect today to be like _______with ______volume start up. Note news driving volume: The word scallop makes it impossible for me to comprehend, I´ve looked it up in a dictionary but I still don´t get it. /stalker
One great effect of listening to the tapes is seeing how relaxed Jack is about the whole thing. In the past I was trying to overcomplicate the prv thing. I have switched to Jacks simple calculations every 30 seconds. Nothing to it. Stalker I have not read the post your quoting I guess as I have not seen that term used. Scallops are delicious but not sure how they apply to trading. Can you give me a link to your source.
I think I got it from listening to one of the tapes. When jack talks about scallops he means the formation of volume between am- dryout - pm. Is Jack actually trading mini-sp500 on the tapes? I just listened to two of the tapes from september together with the charts from txuk, and they didn´t match. Easyrider - have you tried to have a 30-second chart up that shows volume only? I prefere to use a timer, but you´re used to look at more finetune stuff and it´s very simple to just multiply the values with ten from a 30-sec chart. Made me too jumpy though so I don´t know, just an idea...
Here's what I believe scallop to be, the portion under the red highlight is the scallop. To me it means everyone is present and it's business as usual, when scallop is not present it means you should be on the ball. The link is how I figured out what it meant. Look at the picture first then the link. http://www.dehavenconstruction.com/Kroy/index5.htm
I wasn´t sober when I said I was gonna post charts with my trades, but I guess I have to keep a promise. I´m gonna trade most days this month, sometimes half the day, sometimes the whole day. I trade my dads account, so don´t worry about my economy, but mentally it hurts the same. If my old man says stop or if I feel that I can´t handle real money I will switch to the simulator but continue to post charts with papertrades. I hope that people in this thread can comment on what I do wrong, it would be helpfull for me and probably for others to. Especially comments from people who follow the markets live and see things that I miss. I´m only gonna trade retracements. That´s it. I study a lot of stuff that Jack teaches, but I´m only looking for 0-4 trades a day. Traded AM only today. This morning I saw two retracements. Unfortunately I was on the phone with grandma when the trend resumed at 10.20 and missed that trade. The second retracement was taking much longer time, but volume was falling and I thought the bottom from last week was gonna be tested again so I entered at the 11.10 bar at 1253,75. Turned out I was wrong and my entry was at a new point 3. Out for -1,25p. The market moved so quick so I wasn´t able to wash, but maybe I hesitated a little too long. I can usually spot what I do wrong, but here I´m not really sure. Maybe I should have waited a little longer, was my entry to aggressive? Thanx, Stalker