I'm probably asking to be flamed here, but I was under the impression that the point of pursuing a strategy of this sort was that little or no interpretation is required. If that's not the case, what's the point? --Db
Tampa, I am a total newbie but this thread is fascinating and I can't help but add my own 2 cents. My interpretation of Jack's strategy is to use the 1 minute chart to see "whats coming" (my words). I looked at the 11:35 "setup" and noticed that right before your entry, my 1 minute chart (using Esignal) shows reversing candles at 11:34 and 11:35. To go one step further, I added a 20 second chart to my screen and it becomes even more apparent to stay out of that trade (IMHO). I'm not trying to ride anybody or make anyone look bad. I am liking the fact that someone is actually trying this strategy and reporting the results so quickly for all of us to see (and kibitz). Regards, Rich
Sure, OK, you're right FRuitTY P. I yam extending the hand of friendship. But are a Fruit Loops and milk fan myself. Bruce
I think you're dead on, Rich. And I missed what you pointed out. Now if I could just get IB to bust the trade, all would be well
Jack, thank you very much for sharing your ideas. Whether or not I can get your ideas to work for me, I'm learning a lot about stochastics, MACD etc. I have a couple of questions for you or anyone else here that may know: You talk in your postings about "wash trades". I couldn't find much information about them. Could you possibly explain them in more detail or refer me to a site on the net about them. While reading through your postings I noticed some talk about Don Cameron and how he is sick from cancer. I was just curious, how he is doing right now? The latest I can find is back from December.
It could have been "worse"... The post 1:00 run up would have worked out as follows... +1.25 +1.50 -1.25 So sitting here paralyzed didn't hurt too bad... 03:25 Long at 833 04:00 Out at 338 A two point loss, and a 5 point win...+3 net. Being positive is always good, but I didn't do what I should have done, so I could be happier.