To Baggerlord, Electron, and the others that have their doubts or keep asking for explanations: please consider the following. Do you really expect someone to come in with a quick post or 2 to explain over 200 pages of very dense posting? I personally started with this post just over a month ago. I can honestly say I've spent well over 100 hours copying, pasting, printing, studying, studying, and restudying. I have asked others for help and received it, generously. Thank you to all that have given. Then all the time during the trading day testing out my understanding. Honestly guys, how much time have you put in to understanding this? You'll be amazed with the amount of "getting it" that comes with good old fashioned hard work. The reason I'm taking the time to mention this stuff is that I can see more than a bit of myself in the doubting thomases. And frankly, the workers here can tell from your questions who is doing there homework and who is not. To post a sarcastic comment when the answer is buried in this thread just makes someone look stupid, not smart. Print out all 800 pages (that's how long my word document with attachements is), study it several times through, and you begin to realize 2 things. 1- you'll be making progress 2- you realize Jack may know more than you about making money
I have read this thread. I started reading it when I was new to trading, and kept reading it all the way through. I make money now, and do you know when I started making money? It was when I stopped trying to decipher Hershey and follow these methods, and started listening to traders on here that can speak plain English, have solid trading rules, and actually make money. Trading is tough, but it is not complicated. It doesn't take 200+ pages to explain channel trading, breakouts, and reversals. The concepts are simple, it is putting them into action that is difficult. I think Jack is really dangerous to new traders because a lot of what he says are OK trading concepts, but he leads people to believe that any beginner can plug in their computer and start making 50k a year, just trading rockets. Well it doesn't work that way in real life, and I am now of the opinion that Jack is completely bogus, doens't make money trading, and just gets off on fooling with people. Sorry if this is a misconception, but that is how I see it. Try his methods, and when you get burned keep looking because there is a lot of great info on this site and you don't need a decoder ring to understand it. Check the poll in the chit chat forum, and you will see that as of now 72% of respondents think Jack is a complete fraud. Ecouraging, huh?
Re: Re: Re: Wash Trades -------------------------------------------------------------------------------- Quote from 1contract: To continue with the metaphor: How do you distinguish those vines that are going to swing back over dry land, from those that are going to swing you over ever deeper & deeper water? -------------------------------------------------------------------------------- You get out your crystal ball, and look reeeaal hard. There are so many possible replies coming up for most people here. The original post was a great one. It is very very important to examine your space. For making money, it is extremely important to get to a KISS operation. This takes extreme depth of understanding. I'm very sure that at swimming holes the best vines are the ones that have to be tied to the trunk after use. And probably there are kids who won't bring them back to the bank after using them. My mind centered a little on the guy who swung out in the advertizement and came far back to bash the side of a vehicle. I had lots of real memories pop up too. The rest of this is a critique. I feel that I have the right to use people as examples. It comes with the territory especially when I am made into an example that covers for something another person has to crap about. Wrong concepts and crystal balls. Many people have crossed a line in the sand. On the side they step from, there isn't much to talk about. on the other side, they recognize they are in a system that has many interrelated parts. The wash trade is a part and more important it is surrounded by other stuff of equal importance and usefulness. When you step across the line into systems analysis, you get three major facets to deal with: structure, process in a structure and results. Wrong concepts become glaringly incompatible and substantive stuff replaces crystal balls. Choosing the right vine is an iterative process of refinement. Ifyou do a deep "deep out there" vine you get to experience rapid movement the wrong way and that is a super experience. You do have to hold on longer to get to a limit. You learn that there is a limit. You learn after the limit; there is a reversal. From all this you are learning something else for expert too as you sit in beginner and intermediate space. It may seem to some that things are getting descretionary here and there. Perhaps they are not really. The pendulum is a great tool. You Will use it very effectively. And differently than you expect. When we all slalom along in a continuous trading structure that we are building, we will be in a place with all the pieces and not foreign objects nor UFO's. To shift from washing, where by a pause you get out flat (the failure is subtly reinforcing the swing back) to slaloming just takes using the same information in an offset manner. We will offset to an additional degree too to get to having scalpers "push" us. Choosing the vine is an advance look at data and a clear indication of additional intellectual depth. The crystal ball thing is a statement of having not crossed the line at all. The statement also clearly explains that the person does not personally have a bunch of things that are beginning to fit together. One of the first things that happens to any one who is designing an approach is that they look a field for stuff that is compatible with what they have already assembled. Before a person gets to assembling stuff, they usually ar predictors, tip seekers, and groupies (gropies). Placing bets on the market is not fruitful. he crystal ball is a psychological NLP symbol of a person who has not discovered that the market iIsystemmic in nature. The word nature and the words crystal ball are incompatible. Why do people get stranded in the places where they are. The applied maths guy, is a buddy person whose buddy is on a break. He is on a random walk bumping into stuff. Bad news. It is frustrating to not be welcomed in the period of time between posts making a request and the post judging everyone. So he exits with a new found buddy to post in chit chat where fruity pabbles replacement, buggerfraud, is doing an incomplete sophmoric biased poll. so far the poll is "more positive" which is their term for it is not as extreme as it will get when the numbers arrive to take it to 4 out of 5. I have an opportunity here to get both these guys to a new place. I will not spend any extra time but I am going to assign them lessons. They need to learnfirst that they are on the wrong side of the line. I do not want them in this group for sure, but they better conduct themselves to a rational systemmic place and get to work. Baggerfort won't learn because of thework requiredment. He has posted that he quits stuff and leaves a mess where he was. The applied guy has a length problem; he needs to hope harder that his buddy will get back and give him something short to think about. I went through the "one pager" epic at the WH. i didn't do them there but I will do one here for the applied maths guy. It will not meet his transference test requirement until he shows it to his buddy; then it will pass. I am handing off that test work to him to keep him out of the worker's hair here. you all noticed we are on the S level. It is not likely that a bracket in on S ever happens. It is best for you to get that after doing all the prep because we can use the prep at 13:15.
SO Jack, What is that limit? It seems like every time a tough question like this comes up you can't give a straight anwer. Why not?
Very encouraging. The concensus is almost always wrong. 50,000 a year on rockets is an underestimate, BTW.
To all who are interested in Baggerlords intentions. First he complains, then he praises, then he bashes. I normally wouldn't do this, but, well read below. This is his relpy to my PM which is directly below... baggerlord Senior Member Registered: May 2003 Posts: 190 Re: hi Boredom mainly, time to kill between trades. -------------------------------------------------------------------------------- bundlemaker wrote on 08-01-03 04:36 PM: Hi Bagger, Congrats on being profitable, I wish I could say the same! Interesting on the 72% number. Wonder how that might relate to most people being wrong most of the time? But really, that doesn't matter. I am curious though, if you're profitable and moving ahead, why waste your time on this thread with a fraud, if that's true. Regards, bundle
This Fraud has allowed me to average 10 pts a day last month in the eminis and i am only improving. Have fun with your distorted views. I am just glad i am the one out of five. As i am a lurker, i just wanted to show that i am making very good money using his methods. As i became more aware of what was going on, I got to a point where i could really answer any questions i had. Therefore, there was no need to post questions. All these questions that you new guys are going through is what every intermedaite/expert level person went through too. Keep at it.
I don't suppose you would be game to post a screenshot of a statement or trading log for the day, would you? Then I would certainly eat my words and be gone from this thread forever. 10 pts a day =$10k per month per contract, right? That is super!