dawg, where you been? i look forward too the daily journal but have seen an absence lately. Hope everything is going well. baggerlord, icebergs are exactly the same as rockets. the only difference to me is in the width of the channel. Therefore, when you have created pts 1,2, and 3 without the 80 or 20 being taped. You essentially have an iceberg. Slaloming is riding each traverse in the wider(iceberg) channel. You could from a theoretical point of view, slalom the rockets, but rockets are so fast that the money made slaloming from the left channel to the right does not warrant it. Everything that i have said has been posted in prior posts. If you go through them thoroughly(>4X) and do your research(let the market show you through *******SEQUENCES), you will come to the right conclusions. I was hoping that soon we could maybe focus a little on how experts slalom the market. More importantly, Just looking for those sequences(deeper detail) in slaloming. jc
What is the assessment of the current IT channel in play ? Looking on the 30 min chart, I have a long channel drawn in using 7/1 morning , 7/7 morning and 7/10 afternoon as points 1,2,3 respectively. I noticed that the trend failed to traverse to the lt line 7/14 which started a narrow (intermediate term) IT channel using 7/14 afternoon and 7/15 morning as points 1 & 3 repectively. 7/16 the long channel rt line broke. (what happens on a microscopic level happens on a macroscopic level too - kewl)
As i was thinking(probably too much), i realized that Jack layed out exactly what i should be doing now. I am not going to swing the bat any harder, i am going to deepen my reasons for what i am doing. Therefore, Jack, please disregard my requests to focus more on slaloming. The sequences will lead me there. Thanks. jc
Looks like a good day to enjoy the sunshine and start the weekend early. Have a good day and weekend.
Ok, maybe I've been confusing stop logs and C&R. I thought they were the same thing. Does this sound about right: record in the stop log continuously any and all important price points (like pivot highs/lows or tops/bottoms of bases). This is done on the trading fractal (usually the 5) and as you get better take the readings off the 1min. I seem to remember Jack's word "copiously" being used to describe this. Then, every 7 1/2 min (or whatever you determine the 1/2 cycle time to be) do a C&R based on the stop log value. The value used depends on the pace, circling a value so many back. For example, in a rocket, circle 2 values back. Any specfic comments on how/why you determine the exact frequency to C&R would be much appreciated. I wouldn't keep beating this stoplog/CR to death, except that I recall Jack suggesting this process is critical to performance.
This is a very excellent and powerful commentary. The mecahnics is right on except for the 7 1/2 minutes stuff. I was using a highly mechanical example when that was written in support of an alternative to the poor scene at Misc.invest. futures. The focus on ES emini is to periodically update (C&R, (cancel and replace)) your protective stop. There are two factors: how often to do it and how tight to make the stop. You look at formations (mini ones) to see the cycle or peak or trough frequency. Use that to move (C&R stops). Slow medium or fast. I am not being too helpful in some ways. I am asking (forcing) you to "see" these paces. And most important to develop a personal rythm which always matches the market. We know that during a day the market pace changes from faster to slower to faster. Thses are the three parts of the day. It is a trifocal thing where you do not see two demarkation lines among the three zones of focusing on pace. You "see" the pace; you maesure the timing; you write across the landscape columnar sheet the times for C&R; further right you may have to erase and widn the durations between C&R; then later you may have to erase and shorten again. I use two to three landscape pages a day. Slow is 4 back for circling. Medium is 3 back and fast is 2 back. People here suggested that you pick a duration and count the peaks in that duration to get slow, medium or fast. that is terrific too . Logging stuff relates to about three major things: Protection; sequences; and your "personal situations". If you find any more important things in making money let me know. Therefore, you have to recognize how important it is that you take the time to do the series of posts you have done on this topic. It is hard to think of anything more important to do. When I compliment people you will see it is rare. I do want to be procative and creative. to be able to keep quality communications moving along for many months comes about by one singular thing. Work. People here work and work and work. This is a process. Now we are at apoint where there are people pulling down a good portion of the market potential. we are sometimes approaching half. Several early whiners were stating that backtesting stinks, getting 2 to 3 points a day (50,000 a year per contract) was a moon shot. Lots of other noise too. The fact is that people who have worked, now have the capability to trade multiple contracts (five is very comfortable number) and sometimes bank 10 more or less points (500 bucks per contract). There is no doubt in my mind that we are getting to the half way point and for 5 contracts it's 5,000 dollars a day. At ET there are at least five other methods rolling here that pull more than this. I can, song and dance, oputline those just as well as this stuff. One of my hobbies is tracking hot stuff and adding some bells and whistles. Here, because of other's posts, we have a broad foundation that is clearly articulated in the words of many people. This powerful effort has taken months. You will see that many many quality snippets are all around that can be blended into quite an assortment of good basic approaches. This is only possible because people stay at the plate; swing at the pitches with a variety of strategies; and most of all they deepen their understanding of each and everypart of what they are conscious of. They work. Work is a process founded on increasing xonsciousness and knowing that you are learning correctly. This is an asset that can never be taken away from anyone. People here over and over give to others. these gifts are given to help other achieve results in their work. Everyone here is at a point where you have the capability to begin to add a wealth building stream to your family life cycles than approaches your professional capabilities. A year from now I will have set up a way for people to do all of their family life cycle planning in a way that is at a level of excellence that will eliminate family dissruption in every way possible and at the same time will build wealth in an optimum manner. I have studied family life in US, France,Italy ,Germany, and England. I conclude that 70% of families have dissruptions and their average lifestyle decline is 40% as a consequence ofdissruption.. I also conclude that that the dissruptions may be handled and that no decline in life style is required. All that is required are comprehensive ways to dealing with protection, savings, and growth of wealth. ET stands for Elite something or other. My orientation to this place is that people here represent an elite cadre of people. I believe you get to elite by BE DO HAVE. I know how to make millionaires. 30 intervals of compounding done over time get little comparable result in the first 10 intervals. the same is true of the second 10 intervals. The last 10 are where the action is. what you have seen here is getting the first 10 out of the way with rockets and flat wash trades. Icebergs work for the next 10 quite well. When we go to the last 10 we have everything going for us. I am expressing the concept of accelerated money velocity. In a year of so you will deal with about 30 financial interrelated considerations that totally define the economic systems of the countries above cited. Itis not sufficient to deal with LOC's (lost opportunity costs) and tax stuff. I am going to take you to a lpce that every dollar that gets on the table automatically becomes worth several present value dollars. and we will apply those dollars as if they had been compounded for 2 10 unit increments and they are going into the third 10 unit series exactly when they appear to be available. I know from experience how to institutionalize change. It is done with elite people who are proactive and rich. Being elite comesfrom within and it is an attitude that conveys excellence of character. Here we are enjoying presently, a critical mass of elite type people contributing to the well being of others to learn to make money just using the ES mini in a market place. Once you are nailing 5,000 bucks a day for 6 months using all there is to use. You will notice that there is a braoder picture in life. With multiple contracts and rockets you can nail 5,000 a day. With icebergs its better. When I set you up with the economic skills to handle accelerating money velocity in every aspect of protection, savings and growing wealth, then you are going to be very contagious. The world is going global. As dissruption is eliminated, the quality of family life cycles is going to be greatly enhanced. I do not like the idea of reservists having their life plans messed up. THe next year or so is going to fix some stuff, through the word of mouth type phenomena that the global electronic system affords us at this time of the world. In a while after this is really canned on the expert level I'll introduce the concept of accelerated money velocity. then we can start fixing stuff all over the place.