Change the order entry time to 15:00 GMT (10:00 EST). Instead of telling the homeless guy to flip the coin, tell him to go and buy the WSJ first thing in the morning - read it - and then say whether he thinks the market will be going up or down. Position yourself at 10:00 accordingly. These are the rules, follow them.
LOL, one of the biggest reasons of all to NOT share information on this website ... remember when TraderZones was trying to sell his system for thousands of dollars#!!#?#!??
Yeah, I almost feel bad for the guy... Not really though. Every freakin' one of his posts is about TZ's own failures... What cracks me up is that Wolinsky was asking $5mil for a pseudo pairs "system" with -33% DD and ZERO money made in the last 12 months. Hey Beau, I'll sell you this system for 100k... wait, nah, I'll make you great deal - $99k and its all yours. I'll even throw in a quarter if you buy in the next 24 hours? What d'ya think? LOL...
thanks for the schematics, Jay (ehorn).... Here is the basic pattern as given to Michael Covel as a gift last week. Your reactions to my comments are typical of a person who trades in a conventional wisdom atmosphere. Just relax and look at the 9 or 10 bars over a 45 to 50 minute period. I will show the 8 year old trading the pattern in the next illustration. Remember that she is trading P's and T's on volume and she is trading the three moves of the pattern in price that corresponds to the volume signals. As you see price begins a reversal first and goes through BO as volume first declines and then increases as it shift to dominant. Next, at point 2 a reversal takes place (a reversal is an exit immediately followed by an entry in the opposite direction) just as the retrace of the trend begins. The retrace ends at point 3 on a trough of non dominant volume and so the 8 year old reverses again to go dominant all the way to the end of the trend at a volume peak. 8 year olds would love doing this. they are trading on sentiment for price and P's and T for volume. There is a PRV indicator showing all the time. As you saw on one of Jay's (ehorn's) illustrations the Pepe stalagtites are always showing the walls of the Dom to the immediate right of the forming price bar. Walls are where turns occur and most of the time traders pull limit orders to dissolve the wall ahead of the price movement. there is one exceptioin. they do not pull enough contracts at the points I label as trading points for the 8 year old. soon the 8 year old will have enough time to look at about 7 (count them) leading indicators of the turns at the labelled points. Put you gun away and just give yourself one chance of a lifetime to think about an 8 year old dooing each of these clear and concise trades in the pattern. there is only one pattern. jusT because your mind cannot percieve it as yet does not mean you cannot grow mentally to be able to see it in the future.
I've enlarged and annotated the short pattern for you so you can see how a person annotates a trend using our symbols. they are not unsual. In fact I am often accused of using stuff invented by younger people than me who started using what I use after I began. they are all noteworthy, since they are more recent vendors and I never left the ranks of amateurs as defined by NFA when it was created after I began trading.
I like the nature of these folks. they have followed this same pattern hundreds of times. what makes it so neat is that the market follows a pattern too. they "fight" their mind's desires to trade well by getting into OCD patterns that are as reliable as market patterns. Why do these people get to such extreme non functional states. We all laugh at them in ET but it must be something to be in their shoes 24/7. the OP is a moderator and he has not grapsed anything profferred to him. Look at Covel struggle with his lack of ability to read and to view illustrations. what gives with people who get so caught in the Conventional Wisdom? Why can't they even obeserve the market's continuing offer?? I know ehorn's charts are really slick and accomplished. Isn't normal for a person to look at and appreciate the depth of work of others? 40 of us are gong to be at the Expo. We are going to be in the same room for a day. All of us have been doing the work successfully. It is going to be a BLAST!!!! people from all over the world!!!!! Man I am pumped.... I'm getting new eyes for the occasion. My third replacement is tomorrow at 7:30. Having an extra eye is fun too. I am doing some OCD programming right now.....LOL. What would it be like for these OCD's to watch our days collegual activities? Should I put up a print of 46,500 being made on one of these patterns where 40 contracts was traded? Will that just trigger step 3 of this OCD's pattern? Yes it will. It goes like this: one trade doesn't make a successful trader. LOL Of course not. How many times the daily range makes a successful trader???? LOL Doing the work and the curriculum is how to find out.
Best thread ever. Everyone I would have put on ignore in the future came here and made it easy for me.