I guess he could add a couple zeros to those hypothetical figures. Would it really matter? I'm more interested in the content anyways. The only relation between us is that I have learned some concepts that are applicable in reality, unlike rockets and ftt's and amazingly annotated yesterday charts.
Not to me. To him yeah, otherwise why would he be bringing it up to justify trashing a competitor who supposedly lost $300K+? What does "four-figure" mean anyway? $1000? $9000? $12.50? Regardless of the amount, are the two guys really all that different? They're in the same industry vying to extract from the same group of customers. You learned some things from him that are applicable in reality. Good for you then. Carry on.
In any given Jack`s posts i see "annotate","you see","examine'',"log","wait for.." etc...etc.. Jack when to enter and when to exit/to reverse?
07-29-10 03:14 AM Quote from orion: jack, can you explain, why after B2B, - the 2R2B(a non dominant leg followed by a dominant leg) did not show up ? thanks there was a thread a while back that ran for a year as a syllabus; it was named "Iterative Refinement" The beginning month extended to two months focused on annotating thoroughly. As shown to you above, there was a VE of two bars and price closed in the zone on each bar. An ftt also occured on the faster fractal. This is where the green bookmark line came from. We build FFF (Faster Fractal First). See FXwave for the opposite building process. At an ftt and FTT in this case, a person gives attention to the limits of the container of the paradigm. It is a parallelogram as explained in the syllabus a while back. From a point 1 of a parallelogram an annotater seeks the next points on all the nested fractals and he plays by the parallelogram rule and its limitations. You go to point 2 apparently since you noted the B2B, the first leg. You reversed long on the ftt and FTT point 1. I widened the box to include all of these points. When trading SCT there are no losses involved simply because the trader is always on the correct side of the market. At point 2 you can stay long and trade to the FTT which follows the last FTT you reversed on (bar 33). Some people trade point to point since it makes more money and sometimes they use leading indicators to pick up extra ticks carving the turns. From point 2 to point 3 you are in a non dominant short of a dominant FTT to FTT long. I know one watches the "unrealized profits" part of their trading platform. If they did they would have seen a peak of profits at point 2 and a falling off of profits as the GREEN bookmark was approaching. The bookmark is there because of the parallelogram limiting case. And coincidentally it is where a wash trade occurs relative to the last FTT reversal. Coming to the bookmark signals a lateral parallelogram with black dominant and rd non dominant. going past the bookmark signals that a long parallelogram is no longer possible. MORE IMPOTANT, FOR NOW, IT SIGNALS THAT THE PRIOR PATTERN COULD BE EXTENDED TO INCLUDE, BY FANNING THE PRIOR POINT1 AND POINT 2. Since it does, then you are looking for a new point 1 to begin the next parallelogram long. This point will be at the end of the volume, price move from point 2. This trip Is a r2r 2b 2r fast fractal that was on bars 36, 37, 38 and 39. So where is the skilled trader operating? He is able to read the market and see the nested fractals. A learning trader is doing the work to get his mind filled with "whats" that fit together "where" they belong. For this episode on the 10th you were on page 5 or so of your log. The V, P order of events was just a run equal to a 25% increase in working capital. Nothing very significant. My post is an exact repeat of a post about two posts back. When I post, the reader prints it and punches holes in it. He uses a hi liter. He gets out a blank log sheet and does a log as he reads my sentences. He annotates a chart right along side the log he is doing. Lets say he is like covel or babak or the three T's. None of these people can read. They cannot even read slowly or repeatedly until they "get it". There is NO referential place in thier minds with respect to ANYTHING I say. Please get one thought that I post. then you can put other thoughts around that first thought you got in your long term memory. Here is a thought. From bar 33 to bar 39 a person can increase his working captial by 25%. This is not 10 CDS's insuring one lousy defalting mortgage. 30 points per contract double your capital. An 8 point discussion is 1/4 of 30 points. There is NO need to watch 4 points per contract come into your account and then see 4 points per contract go out of your account. Here are a few n00bie suggestions: Look at this chart. See if you can see the correct side of the market. Find it by drawing a line to the right of the price bars. See if you can figure out when price is going through any of these lines you draw. Make a list of such trades. How long does it take to make 30 points per contract? Would it take you 8 hazardous years to write a book on trend following? Why is 20% a year the standard? Spend two months learning to annotate thoroughly. Learn to get to a point 3 so you can draw a parallelogram. In the infinite scheme of things, those 8 points do not matter. What matters is beginning to learn how to learn. Drills are how you learn how to learn. We can always tweak here and there. The basic thing is the PATTERN and how you nest the fractal patterns. You stay in the market on the correct side of the market. Occasionally, you do a wash trade simply because it happens to you on the fractal level you are trading. Washing betweem bars 33 and 39, cost 35 minutes of your life. Here is a test. How many rows did you fill in on your log from bar 33 beginning to bar 39 ending? If you filled in the glossary term B2B in a cell did you fill in b2b, 2r, and 2b in the adjacent column. Did you fill in r2r, 2b 2r before you came to bar 39? Are you messing up volume? Are you meesing up the log? Are you messing up the price? Use up paper. Make messes. Debrief in a different color. Your mind wants the work out. Thank the person who wrote Little Black Sambo. ________________________________________ it was a simple question..
I pointed out two instances occurring on the same day (Fri) when his rule 8 failed. Hershey always avoids responding when confronted with the facts. It is rather boring. The other freak, the spydertrader, was a bit more creative. He came up with two radical twists: "telling people what they need to hear, instead of what they want to hear", and the "subtle differences" rebuttal. The former was used on newbs and the latter on the old time followers who were beginning to catch major inconsistencies in his bullshit. Usually worked like a charm stopping them dead in their tracks and making those miserable idiots spend the next 6 months looking for those "subtle differences". There is something definitely wrong with these people who "iteratively" perpetuating the same crap over the years. There also should be a special entry in the Diagnostic and Statistical Manual of Mental Disorders for the enablers like icarus. Look at him casually mentioning that he knew to hold through 1100-1105 retrace on Fri. That hold would be predicated on belief, whether explicitly articulated or not, that FBO's can be reliably used as point 1 for a new sequence. That belief has absolutely no rational justification at all. Simply glancing at the charts is sufficient to conclude that he is just as full of crap as hershey or spydertrader.