Yeah, nobody doubts his brilliance ... it's just tht when you go past 4 paragraphs, everything becomes a blur. JJ
Picking trades from a completed chart and then expecting that same expertise to work in real time is something less than brilliant IMHO.
there are different kinds of traders. You fit into the category that you have chosen. As a consequence there is no overlap between what you do and what I do. I do not do what you do because I understand how you do what you do and the results it gets. That is all fine and good. Here we find a thread that is dicussing a method. Here we find that the method is a departure from the most common practice of traders. I am discussing a aspect of the method presented in this thread in a constructive manner. This is my scond commentary on a second aspect of the thread. The first aspect was the defaults of the indicator used in the Simpe Profitable method. I did this is a post that just had a simple attachment. The second and constructive commentI am discussing here briefly is when the simple profitable mathod can be used and when it can't. In particular, the people who post here, repeatedly post that they are having problems with when the simple profitable method doesn't work. They have outlined the scope and bounds of their problems when it is not working. They make twogeneral classes of comments by saying: 1. I do not know when it doesn't work. and commonly they say "this looks like a method that works for trends" 2. They say "i do not know what to do when it is not working. So this stuff is all foreign to you as you tell us. And we know your job is not to deal with Technical Analysis knowledge, skills, strategies, philosphy and trading. You are the judge of what can go on in the Tachnical analysis thread instead. You deal with protocol. Technical analysis and edge trading have relatively little correlation and strategic utility. Edge trading is the most popular trader technique. Edge trading has an abundantly described set of chracteristics and limitations. At some point, the survivors of learning to trade gradually get the idea of how to use TA to bettertheir performance and advance their skills. KISS is popular as a beginner's initial option. you are representive of the KISS orientation and limitations. When a person goes to advanced beginner, he usually is targeting the possibility of becoming a full time trader. This breakthrough of starting point means that for the first time in his life he get to monitor the markets and the whole realm of TA becomes his field of play. The simple profitable method represents an elementary step in this direction. And its OP took the trouble to explain soe aspects of is merits and, perhaps, did not make veery important some of its limitations. Their are people in ET who are making a strong and rational effort to grow and progress in their knowledge skills and experience. Why not? You have made two posts on this subject. We have been obeying you requirements of the forum of TA. I recognize that it is risky business for me to be helpful in this forum and in this thread. I have made two simple points: 1. Use the proper defualts for technical indicators. 2. Use the simple Profiable Method only durig the times that it has application. The value of these contributions is that they are focused. The contributions are focused and helpful. The contributions have twoo definite and definable effects. Better entries and exts result fom using contemporary indicator defaults. Losses are reducemarkedly when a person does not use a mehod that does not apply at certain times. further, if the person only usues the method when it apples he is building on success and he will become a better more confident trader. I do not bring up any stuff to wreck any aspect of the simple profitable method. I bring up positive imprvements that affect th method and further define it and I bring up learning attributes and drills that enhance using the method. I also brought up two aspects of trading as they relate when the method is inoperable and reprsents a high risk unsuitable application of the simple profitable method. You can' do that as you tell us and you do not do it here or anywhere else. Thee are Technical analysis issues and not forum protocol issues. With regard to forum protocol issues, flaming me is not one of those things for you to be doing. Flaming in ET is a valid occupation for members and it is supported continually in many way by moderators. Moderator flaming that you do regarding me is something that you can dispense with in the future. I cannot run a thread intachical Analysis and that is well known. It would be moderated at an approximate level of 80% flaming and 20 % other. there is no utility in having such a thread. The beneficaries are flamers and not the "working" participants. What is on topic and what is off opic can be debated but I am not going to be a debater. I feel that knowing the proper defaults is On Topi. I feel that defining the time when the method works in the market is On Topic. I feel that discussing solutions to trading in chop as it begins after the simple profitable Method stops being applicable is a possible topic and it is not a protocol issues but a Technical analysis issue. Technical analysts can best make this decision and keep the hit rate up on this thread. The over all objective of every thread in ET is to jkeep the hit raate up and at a high participation level. I do not sggest or encourage any flaming to keep the hit rat up ever. Flaming is a nuisnace to everyone except flamers; they work off each other. As far as I am concerne I have made two contributions and I have been flamed necessarily as a consequence. It would have ben nice to followup on the consequences of knowing when the limits of the simple profitable method are being reached and also to discuss how to trade or not trade the two levels of chop that the method allows a person to discern. I feel that any threads which lead to the use of market monitoring continually and trading during the proper times greatly outweigh discussions of single edges and some combinations of edges. Getting from beginner to advanced beginner can happen in this thread. There is no way threads other than those on the continuity of trading can lead to intermediat and then to expert. The comment "spiralling down into an incomprehensible mess..."" is way over the line as far as civility and fairness is concerned. Therefore I object and I do not want to see this type of flaming ever again directed at me or the principles of trading that I represent. I have spent 50 years in support of people becoming expert traders and the record is clear on that. Work is what is required to have knowledge, skills and expert experience. chosing to not work and then chosing to flame is unexceptable.
I refer to the "chop drill". It uses a completed chart. Its perfect for seeing where you shoulda made a trade.
jack has already made his points (albeit, waaaaay to lengthy, but still valid). he is attempting to disseminate decades of knowledge, and operates from a high intellectual perspective. whether that is agreed with or not, there is someting to be said, for him even saying anything. there are plenty of others who just came & went. JJ
You're confused. You think you're being dazzled with brilliance when in fact you're being baffled with bullshit. As for Hershey's "chop drill," it's flawed because it doesn't operate at the hard right edge of the chart. No wonder he thinks backtesting doesn't work.
Hahaha, OK Gents. What jack said was absolute nonsense, NOT. However, to tell you the truth, I am not unhappy that you think so. Regards, JJ
What difference a day makes! and a little volatility You know, I really hate to listen to anyone who speaks so glibly as Jack but since he joined our group I have gotten a couple things out of it. I just got good charting software a week ago but I didn't know I could scoll left and get blank space to the right of the present candle. I used to keep pivot points and trendlines separately on a printed chart and refer to that. Having this stuff right on the screen is much better. Prior to open I entered lines in space for pivot points and a Fibonucci grid from yesterdays low to last nights high. The big move down this morning went to exactly the 62% retrace. The the market trended back to near the highs and stopped only .3 pts above the R3 pivot pt. Then we got that explosive move down and guess where it stopped. Exactly 62% retrace of the last move. If you draw a trend line belowyesterdays low near closing and the low of this morning you can see where the market is hung up right now. Good stuff. I also think our discussion helped me define chop. If the markets constantly crossing and recrossing the 2 min X 9sma and trading in a very narrow sideways channel then ER2's method doesn't work. ER is smart enough to stand aside. Take a look at the narrow channel yesterday afternoon. If you had drawn trendlines to define the channel or applied BB bands. You could have set limit orders at the top and bottom and made several good trades. Print out a chart of today with the fibs and pivots in it and you could see how much influence they had. You can also see how complementary they are with the ER2 system. I have been a net losing trader for about 6 years and I have renewwed enthusiasm for trading since I joined this thread. Thanks Guys! Oh, one last thing I'm doing is taking a lot of wash trades instead of waiting to get stopped out. Reviewing some of ER2's posts it sounds like he doesn't stay with a trade which crosses his moving average very far. Lots of small losses and a few real good winners. I like it! I done today and counting my dough.