In other words a retracement to a Fibonacci level, I'm assuming that's how you're gauging the pull back is over? Some would argue Fibonacci is too subjective and inconsistent, for every 'correct' entry there's an incorrect one. If it works for you then great, seriously, and if it's free then also great because it certainly wouldn't be worth paying for! It's a bit like re-inventing the wheel though isn't it....
I don't recall him ever referencing Fibs. http://www.sierrachart.com/userimages/upload_2/1257184426_73_UploadImage.png Move Stop to 1035.0, the top of the last bar.
LOL. this thread got funny. started out good. Any fool can show one chart that they pick and explain in hindsight how this lead to that and this was exactly how you could have made money...yada, yada. fibs are great because they show a nice chart on a significant percentage of charts... but there are usually 3-4 retracements, so you only need one to fit. then after looking at say 20 charts i'm sure you can find one that looks good for a book. the is one of the biggest problems for new traders, they drink this kool-ail without thinking it might be manipulated to sell them stuff. give me any chart..i will show you how a certain method would have worked exactly.
lol, me too, MA's are particularly good in hindsight! Here, anyone want to buy my MA-crossing strategy?
I 'know' from putiing in somewhere between 5000 to 6000 HOURS of screen time. (I really don't "KNOW"; it is a probability bet). Joe does not reference Range Bars either: I adopted that concept for myself. That speaks to the universal character of 'charts' whether they are Time, Volume or Range based. Joe Ross offers his insights for free and they are as applicable as any ideass that I have gotten from courses, books, software, seminars and personal coaching. I've purchased things from Larry Williams, Bill Williams, Robert Miner, Alexander Elder, Jack Berstein, Larry Conners, Linda Racksle (sic), and MANY others. THEY ALL SAY THE SAME BASIC THING IN DIFFERENT WAYS. Joe Ross says it as briefly and clearly as anybody and I've never paid him a single dime. Like I said in an earlier post, I really wish some people who attended his daily personal coaching gig ($1,500 per day) would speak up, good or bad. My main point to you guys who are blasting him too ignore him and this thread if don't agree with it.
haha. Of course, it's good to know what newbies look at so you can assume when they got in and where they put their stop. sometimes this opposite herd mentality works. on the other hand, IF the program trading dwarfs all the retail clowns, then maybe it's a waste of time. i like to look for failed H&S, but that's just me.
Ok fine, but I thought you said it was a 'Joe Ross Law of Charts and Trader Trick entry'. I have nothing against Joe Ross personally, he might be a real stand-up guy, I just enjoy exposing snake oil sellers who tout their questionable wares on trading forums for what they are and as far as I'm concerned they're all snake oil sellers until proved otherwise! Joe Ross is no exception. One surefire way to avoid the scams is to ask to see a few trades in real time, that shouldn't be too difficult.
I don't know if you are referring to my chart but the chart was posted in fairly real-time. The trade was executed before I went out to learn how to post it. Doesn't matter: my account is 11 pts. higher and guaranteed to net 7.0 pts. if the 1035.0 gets hit. All of this while you guys are dissing something that you've never read.
i'm up over 42 ES points today. and i might just hit this market just to make sure 35 doesn't get hit.