Use the 30 min for Thursday. Anyone can look at it a day late and quarterback as I am. If you were following the market on Wednesday,though, you would be looking at Thursday Am the same way. This would immediately put you on the 30 min. On the 30 min you get to see that the Thursday is a very slow paced day from the beginning. This will get to be deja vu for you after a few seasons. It takes a lot of time to gain repeated experience with time consuming slow paced narrow range insipid days. They take a lot of time to play out as you learn to stay sidelined or do long slow holds having low money velocity. On the toher hand, rockets are the easiest things to see, make money with and are the least risky. i bet alot of people here are not using a 10 point scale on the 5 min. If they did and they looked for a tape channel and went to the 30 minute, they would see that being in the market right now is not a good idea. The best thing to do is accept that there is congestion and volume is running at 10k which is not a potentila rocket level. What follows congestion is convergence and centering. At 13:15 on a Summer Friday going into centering, there is a good chance that the next event is the weekend. It takes seasons to get this down because the topic takes time to experience and it is not always there as a repeated frequent example. I will have version II of the months knocked out soon. At that time you will have some good time compressions. I have figured out an illustration plan as well. I am going to make an atlas of the market's operation. Then I will go back into the journal and link it all up. When the spin outs of the bolds are written I can also refer to the atlas. This will ameliorate the seasons problem for most people.
I can't wait. In spite of my recent whining, forcing myself to take rocket trades at a beginner level is making me see the market in ways I never have before. Oh boy, did I fight it. It's also forcing me to just trust, something I desparately need to learn.
What you are doing is very very important. You will make more money in the future as aconsequence of this than any other thing almost. waht thei will lead to, absolutely, is slaloming in active markets (non Summer). Going to get very smooth at this. It is like feeling numb almost when the market is dull. The market is not going to be so dull most of the time. We are in a place right now that is setting the climate for the future societally and culturally speaking. The saying that "it can't get any worse" is trite because it usually does. This limbo is going to take us into Labor Day. I am trying to nail down 12 hours a day on this edit to congeal stuff. There are some really terrific contributions here. The people going through this process get one thing: an experience. That experience makes it possible for them to be able to use what I will produce 6 to 9 months out. That will be a cogent "guidebook" for experts in SCT. Not long but very very deep. A twin strategic strategy is required for SCT. You move your indicators to the pace; you read sequences (flaw detection, primarily) and you, at market C&R to stay "pushed" by smart money. Read dawg's posts. Some people here are surfacing in ET who trade large capital in indexes. Search the word "zone" for some posts I have made on thier turf. Money management comes up when you have money to manage. We are headed there. For smart money lurkers here: we will address all forms of risk management in zero sum strategies. We will move up to full contracts at some point and esp the T&S and the subsidiary derivative indicators.
i know you do not like the length of this. Version I is shorter Version II is going to be shorter as well. I will pare version II to a greater extent. I find when I take this stuff to word to work on it sometimes it is 10 point type. By saving it into another place you may be able to save space with type face margins and page length. I am shooting for Laobor day to have stuff worked through.
Uh, O.K., I'll put that right next to Jack's statement that beginners trading rockets should make 90K/yr/contract.
No, I asked where you got the idea we're in a period of "very low volume". I'll bet it's the same place where you came up with the idea I'm a woman.
I guess you get to blame Jack for that too jack hershey Elite Member Registered: Feb 2003 Posts: 759 02-23-03 01:08 AM Re: Attempt at "Fast Trades"
See Trendy, That's the value of actually PRINTING the posts. You get to pick out all kinds of details. The answers to all your volume questions are there, truly they are Regards, Oddi