" I realized that 3 x ATR is in fact based on compounding contracts with each successful swing you catch.." What kind of bull caca is that 3-6ÃTR has nothing to do with compounding.3-6 daily ATR is 3-6 daily ATR because is just 36 daily ATR
@mindovermutter Truthfully 'Mind Over Mutter' - I don't think Jack actually has a system. I don't believe that anyone that has attempted to follow Jack's methodology (what ever it may be) has or ever will profit. What I was able to distill from Jacks postings has nothing to do with his system (???) - it has everything to do with how to look at and interpret the market - something that Jack seems to get (his use of fractals is intriguing). I use a simple Price Equilibrium Curve (Simple Moving Average) to anticipate price fluctuations around the curve - and I also have to decipher an inordinate amount of real time trade data. I have two models - one completely automated (the 60% return model) and a semi automated (discretionary) system that I use for scalping (200% return model) As far as the details of my system - I seriously doubt it would do you or anyone else here any good - simply because it would be difficult for anyone to replicate unless you had the same desktop trading app that I have. As far as Jack's disciples - Good Luck! ,...G
This kind of discourse about trading does the neophyte trader a huge disservice. The time a neophyte might take to try to understand the quoted passage is time that he fails to devote to finding his own way. Trading is a very personal endeavor. No one can tell you how you should trade. You must find your unique way on your own. Once you find that way, it is so simple that you can write it down on the sticky side of a postage stamp. Complex strategies like that quoted indicate either some sinister ulterior motive or a fatal lack of understanding of trading reality.
Jack writes in a way that requires more than an 8th grade reading level, which is where most Americans read at. So his posts have a sort of self selecting nature about them. People do not like to feel stupid, so they lash out at Jack.
That nutbird has been on this board for years, and he has OCD, at the very minimum. I simply ignore him on sight. He has nearly 100 aliases that I personally have banned before the mods catch up with him. Readers of JH are all over the web, and it is widely understood that the lazy do not get the time of day, which frustrates a lot of folks.
That is not the issue. The issue is that writing about trading doesn't require more than an eighth grade reading level. Nonsense cloaked in lofty language is still nonsense.