Welcome to the forums babs2000, The fractals you refer to are not taught nor employed in this technique. The YM is a medium level tool - This means it is incorporated and exploited once the trader has understood the course level tools (i.e. 5M ES, Channels, Gaussians, PT3, FTT, FBO, P/V relationship) used to implement Jacks trading techniques. Jack and Spyder mention many times that there are no shortcuts to mastering this technique. It is critical that the student put in the time to understand how the techniques and tools layer on top of each other to develop a richer view and understanding of the market and being/staying on the right side. If you are interested in reading Spyder and Jacks comments on the YM you can find them starting here: http://www.elitetrader.com/vb/showthread.php?s=&threadid=83604&perpage=40&pagenumber=21 If you are interested in the technique in general and see potential from its usage then I would strongly encourage you to spend time and read/study this wonderful journal, which SpyderTrader and others have graciously provided, from the beginning. Best wishes in your journey!
Your German-English is considerably more comprehensible than my English-German would be, so no problems. I should alert you to the fact that I am not the thread's oracle so what I have to say should be taken taken con granis salis. FTT's need not be a significant high or low but indeed they do signal change. The nonequivalence of the time fractals while at first confusing should be viewed in the context that the underlyings really are different beasts ($INDU and $SPX are not the same and it has to do with how the smart money plays [= manipulates] these instruments). Which is to say that if one compares the 2 min ES and 2 min YM they do not give the same FTT's when looked at within the framework of this trading methodology. There are a number of ways to "dissect" a bar of a given time fractal and in this method a set of "fine tools" are used to do this. I ain't there yet but do have enough comprehension of what is entailed to be able to say that these short time frame methods involving DOM (depth of market) and OTR (1 tick range) charts sont tres forts. With respect to volume it is safe to say that it is of paramount, if not singular importance for the effective use of the protocol. To get a feeling for this, might I suggest you do an ET search for Jokari Window and read a little bit about how this way of looking at the markets melds with the methods espoused here. Bottom line is - volume rules price. I hope this helps and when trying to whack your way through the mountain of material, be mindful of what you extract. In the words of the good doctor: "It should be simple, but not too simple". Regards, lj
Bottom line is - volume rules price. Sorry. I meant to say volume leads price. Some things can lead without ruling. lj
what if price taping away quickly without forming a p3 at YM? will you forgo the trade? in that case do you think RT bo with increasing volume would be better? Thank you
For a little more on this check this post and the one three posts up from it: http://www.elitetrader.com/vb/showthread.php?s=&postid=573725&highlight=early+errors#post573725 Regards - EZ