OK, I looked over the link that Nkhoi provided. Now I'm waaaaaay more confused than ever. Jack talks about adding/subtracting 2 and 7 from something. He talks about numbers ending in 0 or 5. He speaks of trough/peaks (that sounds like pivot points to me) and then also says to take reading every 7 1/2 minutes. My apologies to those that "get this" for asking the same thing again. My sincere question still stands: can somebody explain in precise, unambiguous detail, exactly what a stop log is, how you determine what you log, and how specifically you use it. I have really worked hard to understand this stuff. I've spent scores of hours printing and editing and thinking. Every new post and I'm more confused than before. Can anybody help?
So I am not the only idiot??? Thank goodness! Come on, where are all the translators? I have picked up for myself that Jack is basically plagiarizing Bernstein's stochastic pop in The Compleat Daytrader. Good book, by the way...
No one can help.. because Jack himself is bogus. I read his first post.. then I knew who I am dealing with. You are probably no better off using numerology, astrology, tea leaves etc. This whole thread is a pure waste of time. If anyone can actually make sense out of how to trade based on Jack's methods.. they are only kidding themselves. Pruit from Futures Truth said it himself... no indicators work. The only things that work is support, resistance.. supply and demand. Pruit tested everything under the sun the past 20 years. Just using something like a simple breakout strategy w/ proper money mgt.. will probably outperform any of Jacks BS.. in the long run. Do you honestly think the best traders in the world think as clearly as Jack Hershey? --MIKE
Oh, okay, difference in vernacular, I thought there was something I missed. Nothing good in the afternoon, there was an EOD rocket for a couple of points, but that's all I saw.
Thanks a lot Jack. This has been a great and fun experience. I just had a few questions and thoughts about today. What do you mean by IT trem fractal considerations? I am guessing that IT trem means intermediate trend. What signals should we be looking at for low volume trends. Todays stoch sequence for low volume trends = fast line stoch entwining the slow stoch 3 or 4 times above or below the 50%line. Next time when i get that point 3 on a low volume trend, i am going to just do it and enter and wait for that flaw to pop up. I have noticed that during slaloming, prior to the vdu, price makes a push to support or resistance for a failed BO and is accompanied by a big volume spike(1 min chart, buyers and sellers switching hands at failed BO point). I have been using the volume spike as the cue(signal instead of vdu) to take the reversal slalom. I usually get a better print and the vdu usually comes within the next few minutes after the volume spike. Is this incorrect thinking since vdu seem to be the key?
I do not fully understand it either but i think we have to take things in strides. Therefore, I started with a more basic approach. I have started to just monitor the highs and lows every 7 and half minutes. After monitoring for a couple days, it seems that the market seems to make its pushes or fails to make pushes every 7 and half minutes. Hope this helps.
Thanks for the flaw card. I saw the point one, and the slow up trend, with point 1 in the middle of the old rocket, but I wasn't sure what to do. No more freezing at VDU
nwbprop, Yes, thank you, actually it does very much. My post obviously shows some bit of desparation. I made the mammouth error of blowing off this thread early on last February. Only a month ago I started reading the whole thread through and was shocked by the results some were achieving. Been trying to play catch up ever since. A big thank you to all who have helped, there have been several.
I use seven fractals. They are spaced roughly as multiples. I determined what I use as a trade off between making money (personal performance) and the potential yield of the market on that fractal. I figure the market yield from getting signals and stuff. there is an excel spread sheet I made up partly to let people play with their efficiency and the market efficiency to see breakevens relative to the potential. The fractals are the columns and the rows show diferent periods of examination like days, weeks, months, quarters, and years. There is also a leaning aspect to things to consider as you point out. Use the daily on the ES03U. Set up the channel. You see that one hold is up about 150 points. This is in a way a guide to performance for the two quarters. Go to the 5 min and see four channels that got 19 points to day. It is a line on the daily. the line is shorter than the 19 points. You can make a coeficient for any fractal's H/L range to get a possible yield in points. The coefficient is above 1.00 I use 5 min and 1 min for expert trading on futures indexes. I use 30 min and 5 min on equities except for analysis; there I use dailies in several web sites. I am efficient in both places and I am able to realize most of the potential of the market. I believe it is difficult for people to intuit the compound interest formula output. If you look at the trade off of more cycles vs more profit, you are optimizing by using a minimization technique against a maximization technique. This is not just something that intuition gives you the answers.