Everybody can learn to drive. Not everybody can become a champion car racer. But still everybody can win his bread as a trucker or a taxi driver. Just know your limits, and don't try to race through the streets ... As a trader you have one more great tool: compounding! They lied to us (in school, family, media, etc.): not everybody is a winner! But everybody can be a decent man. Many people posted on this thread their positive results. What more do you expect?
I replayed the day again and tried out IF1/IF2 with APA. Stopped at bar 18. First trade was on break of first bar, after each trade went into APA mode until end of 5 min bar. PointOne, is this similar to what you have been doing? BarId 2: short 1519 (IF2) APA mode, reversals @ 1520 & 1519 (not required) 3: IF2 not triggered 4: IF2 not triggered 5: IF2 long 1520.25 (IF2) -> APA mode reverse short @ 1519.75 6: IF2 not triggered (1519.50) 7: IF2 long @ 1519.75 -> APA mode reverse short 1519.25 8: IF2 long @ 1520.00. No APA, reverse done on last 1 min bar of 5 min interval 9: IF2 not triggered (1519.00) 10: IF2 short @ 1518.75 -> APA mode (not required) 11-17: IF2 not triggered 18: IF2 long @ 1516.25 -> APA mode reverse short @ 1515.75 Selective execution of IF1/IF2+APA used with other tools from the Hershery method will definitely give much better results. EDIT: I only choose to go until bar 18. Results here do not mean to claim IF1/IF2 works or doesn't.
From Page 1 of this journal: I was hoping to learn a bit about how to implement the things we have learned over the past year. The positive results you speak of are a spattering of people pulling a couple of points here and there using setups (pt3s), a group breaking even, and a large majority cant get off the sim because there are no fake dollars being made. Perhaps I am exaggerating? Who knows. Apologies if so. This thread has been the equivalent of a book. We have now reached the glossary and are ready to trade, except that chapter was not included? I do not perceive that the intention of this thread was to be this way, but it seems this is the result. I guess my question is 'Is this the end of the road? Are the 'realtime video examples' coming?
I reiterate my recommendation: read and re-read the threads Spydertrader listed in the beginning of this journal! Also, be realistic in your expectations for what you can be given by others, and what you have to come up with by yourself in order to use profitably this method! It's not that somebody doesn't want to give us more: there is nothing more, or at least there's nothing intentionally left out. This is my experience and my understanding. The key is the mind shift(s) that each one of us has to make, and there's no substitute for it (them). Until we calibrate our expectations from this learning process we can't make this mind shift. This is why there were so many that studied hard this method for very long time, and that are still not there yet. Ask your specific questions one at a time, and try to perceive the thinking that is behind those offered answers. If they are coming from trustworthy posters (Jack, Spydertrader, and / or others), and still seem incomplete or wrong, firstly question your perception of that information and work on it. Good luck! PS: IF 1 IF 2 APA is not the solution. It's just another useful tool if used when and for what it was intended.
IMO this is a little early to say. I would like to see the green RTL tested again or the high of that current bar to be taken out (by the next bar(s). regards, Ivo
Can someone point me to the flaws description and how to spot them? I was looking at the syllabus, and it states that it should be in September but I could not locate it by going through the whole month of Sep. TIA.
Also don't forget that people tend to post just their successes. Not their failures. I am speaking for myself because I was eager to post a couple of points of profit. Right now I just decided to not post any results anymore. It doesn't help others. regards. Ivo
You can get a good start here and continue forward. http://www.elitetrader.com/vb/showt...6&highlight=flaws spydertrader&pagenumber=885