Perhaps I was naive as Jack did apparently do as he was asked and posted a statement of his trading, but I didn't check the details. Its easy to see why many get frustrated with Jack as his posts are often very long and lack clarity, with numerous spelling mistakes. If his intention is to inform and invoke interest in his trading methods then he is not being very successful due to his vagueness. On the other hand if he is simply intending to wind up people and take delight in causing confusion then he is succeeding very well. Personally I don't know which is the case or whether he is successful at trading or not.
Here is a Sunday afternoon sleuth homework for anyone. Compare Jack's posts to traitor786's in the bitcoin thread. They both have the easily distracted, rambling , confusing style, where they are jumping from one topic to the next for no apparent reasons. I say if they are not the same person they are at least father and son!
Jack(s), surely you remember the origins of NLP, where Bandler and Grinder discovered that the uber-therapists they modelled were not doing at all what they believed themselves to be doing? I think that's you(se). I would say more, but I am busy averaging down on gold, feeling for a bottom, and hoping not to get stinky fingers.
You may be unfamiliar with how the processing of daily trading information works. FF 1 was intended to show an account system that was primed and ready to go. The accounts were filled with money trasferred from equities accounts into new futures accounts. This is called sweeping. The shot was on Friday before the weekend began. The buying power is 100,838.56 and that is 102 contracts. You also see the % that will be used for trading is 94% (at the top). FF 2 was a snapshot taken on Monday. It was after the opening trade. You see the decline in buying power from 100,838.58 down to 100,454 58. You also see a "closed P&L" column with 4,550 in it and a column Total P&L with the same in it. This is the gross profit of one trade that lasted 14 minutes in a 6 1/2 hour trading day. FF 2 shows how actual trading works and how snapshots of screens "tell the story". FF 2 shows the commissions are taken immediately and the P&L IS NOT MADE AVAILABLE FOR COMPONDING AT THE TIME THE PROFIT IS MADE. This is trading 101 and it is unfamiliar to you so far in your trading career. So it goes. Tuesday arrives and the account is shown again before open. overnight settlement has occurred. The buying power is now 105,004.56 and the contract value has increased to 105 contracts. One settlement has now occurred and the account has grown. 1 day and 1 trade and a change has occurred. As days went, by I wanted to show how adding more trades, doing reversals, and letting the money ride to compound, worked. AS was shown in two prints, you found out that you cannot trade the profits you made on that same day unless you do something. The something to do is run up the 94% to a high % that adds the 4,550 to the buying power. This could not be explained in any dialogue simply because readers do not know how prints speak or what prints say. In FF 4 I showed more of the print picture. Here you see the moment of the open short entry: 9:31: Xx seconds. It was late for me. The short was covered at 9:37:XX. This is chicken feed in profits ($2500). The second trade was long and had a 1 point advantage over the prior cover. I sold at a tick more than the cover on the short. This is treading water in a range called chop. trade 1 made 2500 bucks; trade 2 made over 5,000 bucks and the P&L shows 8,225 dollars on the P&L. The print is called "Balances by account" prior prints were just "order entry" prints. So monday made 4,550 and tuesday made 8,225 or about 12% on capital in two days. Wednesday started at 114,000 and XXX contracts buying power. The conclusion I read and commented on shows I do not know how to trade or make money. So be it. At least you now have the variables to plug into the compound interest formula. 1.12 raised to the 50th power will do it quite nicely for a person trading 1 trade on each Monday and two trades on each Tuesday. Take that answer and multiply it by the 100,000 initial capital to get annualized ROI. Then take out taxes. and commissions (No can't do that it is aready in the formula.) Obviously, this cannot be an incentive to do work to learn to trade. It can't be an incentive for making life style changes. A person read the whole tread and concluded I can't trade; I conclude he told me he can't read or do arithmetic, either. Now all of you get to go through the rest of the litany you do to prove what you want to prove. Have fun. Read Gary Smith's book . His one day net got to 900K. And he is self taught; it took 12 years to get profitable for him. I spent 40 days to get profitable at about 25 years old. Now I'm over 80 and all those profits I made by my courtesy to others are for free. arithmetic can go further. What if I traded more than just monday and tuesday? Waht if I did 6 trades in the AM? as you see I just did chop for all of those trades. What if I traded a whole trend? what if a traded 6 trends in the AM and six trades in the pm? What would an annotated chart look like? What would a completed log look like? I have posted my annotated charts and my ompleted logs for years and years and years. That is what it looks like. But do I really trade? To compound you would have to use bigger numbers. 1.12 would be times 4 to get 12 trades a day and the 50 would be 240 for the days in the year. So, who are full time traders? They are people who have not learned how to trade as yet. They are people who post their P&L everyday in the ES thread. At least we found out Pekolo doesn't know how to read prints. Neither does Lucrum apparently. I asked a lot of people what they wanted to see. Frenchfry just took the trouble to say nothing so I did it anyway. My prints were really quite funny but no one could even figure out I was demonstrating trading in chop and going in correctly right on the open. But who gives a fuck anyway? thanks Joe......
What do you mean by "say nothing"? What did you want to hear? You pretended that you don't know how to prove that you a) trade and b) do it profitably. I just played along and gave you what you wanted to hear. But it is true, I don't care about your track record or account status. What I rather wanted to see was a chart and log that actually uses the terms in the volume log that you once told me to create. On the charts I see PPs which are not in the log, I see bands, etc. none of this is in the log (the columns contain only 11 volume elements). In addition I only see a lot of T1's and but never any of the other 11 volume elements.
There are posts that had charts or logs attached. All of the End Effects and the volume determinations appear in a column entitled "EVENT" on the log. Take out a log I posted and that you printed. Read it vertically and see the progression of a trend segment on volume. Then look at the volume pane that corresponds to the bar numbers on the log. There you see volume has "rays" that begin and go to the right. As events pass more and more rays run along in parallel. You may notice the pink ray is the P1 ray. You may notice that I label T1's with boxes (blue) with T1 inside and a vertical arrow pointing down to a volume bar. I did a chart to correct your "band chart" Get those two charts out and look to see how that trend segment went. For a while in ET I request help on what to provide that would adequately show my trading efforts. Your help was not forth coming. So I got some prints together and scissored away to make illustrations. I labelled them FF 1, FF 2, FF 3 and FF 4 to illustrate a lot of aspects of compounding trading capital. Pekelo did not understand the illustrations and made a comment. They were intended to illustrate that using a system of how the market operates does make money. Many people concluded I was not making money. They read the whole thread to figure that out. I worked through, very thoroughly, the test procedure for volume measurements with you. As you say you have never seen anything that I talk about. I believe you. From my viewpoint, I have posted a lot of illustrations. Collectively, they happen to show every part of the SCT annotating and logging. ET has had some recent struggles. A few things I posted are now gone forever for ET members. You could have these items if you used your printer or computer to save them. I have them since I keep electronic files of my posts as fodder for my publishing type writings.
You know guys what the saddest part is? That we have been trying to teach Jack for 5 years, how to post a chart/picture/statement, and he still doesn't know it... http://elitetrader.com/vb/showthread.php?threadid=131273 I mean seriously, who the hell print the shit out then scan it??? Even taking a picture of the monitor with a cellphone would be a smarter way....
The saddest part is that you guys can't give him respect for printing out his account statement like you requested and are bitching that he did it upside down. The saddest part is that you guys are complaining that no ones gives you their edge for you to learn, but Jack does it for free, but most of you are too stupid or lazy to read the 300 pages of notes. Now I am not directly referring to Pekelo since I believe he has his own system to trade. The only thing I would say that Jack does not mention and he should is that an edge is only 10% of trading. I have an edge based system, but sometimes I hate to lose and revenge trade or for some reason I make stupid trades that are not based on my trading plan. Being able to control ones emotions and not over trade, plus good money management are extremely important. For those of us that don't use automated systems, the 1st thing one needs to do when he or she wakes up is draw lines, and determine what type of short term frame the market is in. For example, for the very short term in futures we were in a slight range when I woke up. I was fairly certain I could do a profitable scalp, and I was successful except I could and should have taken a few more ticks of profit. I also need to remember when I have a losing trade, that the next day is new and I have a chance to make it up instead of fighting when the market is spiking up and down randomly. Also, Jack unlike some other posters who I shall not mention is smart enough not to let an oil futures 10 contract trade go against him with no stop for 5 massive points before giving up.