You're probably right Gerry, but if it helps people 'see' a chart and manage their trades, I don't care if it's called a purple chicken. I think the power of Jack/Spyder's descriptions are in the clear association between volume & price and the terminology, which helps the concepts 'stick' in the mind of people who are looking to learn.
Hi All! Is anyone having any problems with the "Earnings Date Lookup Utility"? http://www.thercproject.com/hershey/funcs.asp I am getting this message when checking against any data source: Checking 13 stock(s)... Earnings Dates Microsoft VBScript runtime error '800a01c2' Wrong number of arguments or invalid property assignment: 'getPage' /hershey/funcs.asp, line 67
whatever - just don't fall into the trap of believing that every trend change starts with such a "ftt" - or every "ftt" leads to a trend change.
You're not even close to "the power of the trade" but that's ok ... the more guys like you miss this trades potential ... the more money for guys like me... The ftt is a natural market phenomenon and therefor a tradeable unescapable edge that must always exist. I encourage you to approach it and study it from this vantage point. Guys like gerry875 always want to put trading into a box but guys like spyder and Jack are trying to get you as far away from that box as can be.
Bearbelly - sure I can and he's right about this, I can show you thousands of trades that you would have missed the boat on if you where only waiting for an ftt. Don't fall into his trap, that's NOT what this trade is all about.
Right after I posted that comment I thought of a couple of exceptions so I deleted it. Technically tho I think the next bar after the high or low of any trend could be considered an ftt.
This is ENTIRELY timeframe contextual and it's a stupid arguement and a waste of time and exactly the type of semantics gerry was trying to provoke. Now go and trade and make some $$$
Already did, Sold my NVEC for a 6%+ and GRRF for a 3%. GRRF too early but FOMC day today. I am no expert yet, but at least I am profitable. Good trading everyone gooch87