I just wait for the 5m to end and enter of the hgih of the bar to keep it simple. i do not think jack ever said anything like this specifically. so far it has kept me out of a lot of losers.
Ok, I'll roll over to the June and see if this approach helps any. Sure looked like it saved you a bunch yesterday.
Dawg, Doesn't the nature of a rocket when used with a 5min 14,1,3 stoch....kinda make using the entry of the "next 5min bar high/low" methodology useless? Shouldn't you be catchig the rocket by understanding the other "hershey indicators" ? Why the 25/75 line? shouldn't you be using the 20/80 line? What about the iceberg indicator? Michael B.
FYI: Stoch(14,1,3) 11:00cst stoch(15.00, 24.55) macd hist:-0.77 and volume 5,297. Close but not right on, wonder why as this is after the close of the bar. Maybe just a bit of difference on the data feed from our providers...
Precisely the thing to do. You will be slaloming in a few weeks. Count on it. The wash trade is the most important trade in the world. From it you learn that you are in charge of everything. When you deal with it just like dring to and from a stop sign, the world is yours financially speaking. You will get to a point where you look around and you make your moves knowing everything is being done just like driving defensively. My personal feelings here at this point are that there are mant many reinforcing comments coming into the picture and a lot of you are beginning to realize the results of the stromg efforts you are continually making. These times are difficult globally. This is a severe test of market theory and it is giving us an excellent demonstration of the fundamental reliability of the context we operate in.
1. i am not using the 'next 5 min bar'....the 5 min bar that CLOSES with a reading of higher than 75 on the 14,1,3 stoch. that is the bar i am looking at. i don't enter during the bar b/c many times it is above 75 during the bar and reverses downward. i tried using the 1m. but it screws me up. by waiting and buying above the high of the bar i have avoided many losing trades and believe i am giving up very little on the upside so net net i feel i was coming out ahead. again this is just my own opinion. 2. the 25/75 reading has been suggested by jack as a way to get an early jump on the rocket. 3. iceberg is for intermediates and i am not trading that method. again i think what jack is giving us is a way of examing and getting in on the right side of the market (i.e the trend)...i don't think by waiting for the bar to close i have altered the core methodolgy in any way...i may be a half point late on a trend, but at the same time i don't enter on false trend readings....also i feel better entering this way. are you guys entering during the bar(even if it during the 1st minute of the 5 minute bar) or waiting for the bar to close and entering at the close of the bar? so the only minor change (imo) is buying above/below high/low of the bar the gave me the signal.. for example: i get a buy singal that closes .25 below the high of day and has been sig resistance i am not going to enter unless that resist is broken. i think you should look at other factors other than just the numbers (chart formations, etc.) and i think this goes along with what jack has been saying. again i am not saying my way is the right way, but i didn't think i made any significant changes.
WASH TRADES Jack H., Please get into wash trades and how one should go about "practicing" them. Usually, as soon as you buy something, if you sell it immediately, it will be a loss. If you sell too soon, you never give the trade time to go your way. So, what are we to do with wash trades? How do we practice them and how are we supposed to use them? How do we learn from them that we are "in charge of everything" as you say? If I was to practice them right now, what would I do, specifically? Thanks, FRuiTY P.
As you approach the intersection......... Okay. Seriously. You are looking at the market in a very astute manner. Our context is this: We are trading plateaux by plateaux. We get the drill down completely on that plateaux and as we look ahead we see the scramble we have to make over the talis and stuff to climb and struggle up to the next level to cruise across. The time spent on a given plateaux is the profits made, nothing else. Profits define skill. Wash trades are very significant in this measure of skill. They are powerful because they prevent erosion of prior successes. We are not going to be living in the land of win loss ratios, draw downs, consecutive anythings. macro randon this or chaotic thats. We anticipate; we have sequences. They all lead us to flawless trading. when we approach this plane of attentiveness, we discover that we can clearly see when the market pops a flaw into what is going on. The beginning of wash trades doesn't begin by your having this perception or these sequences under your belt. so you are now tuned to desiring to know how to do it. And clearly you see that you might not actually "wash" every one because of costs etc. What the drill is all about is pushing everyone to become very conscious of the telltales, and in particular the flaws that creep in. You may be saying now:"Get on with it" On the other hand some of this stuff could fill a book. I will post here an early warning system for you on this stuff. All these things that come up are extremely important and the most important thing is that you bring them up. I am starting the wash story now. For all time keep in mind that volume "pushes" the price. This means specifically that volume is ahead of price getting it to where it is going. It's a timing push. People make up the market and their consistency and numbers rule the roost. If the particular people, at any time, who control things loose their punch or are slow to maintain the group's will, there is a failure to achieve completion. Translations: We can look at a lot of this from the viewpoint of physics. There is also a rhythm of things caused by loosely connected intentions and needs. It is like war games played on several levels. Physics, psychology and war. kay we have all the fluff off the table and we focus on the market through volume (the people exercising their will) and price (what they want and control). We need to focus only on the failure stuff. This makes washing a KISS thing. Whenever we enter (using rules of a given level) it is from anticipation and with an expectation. We are putting ourselves ahead of the herd so they can drive us and our profits. The one and only thing that has to happen is that the herd keeps the push going by sustained and increasing efforts. That is it. No more is required. Now you can "see". It explains everything. I did a post for zbear's colleague in a chop session yesterday. I quantified the volume there as a way of "calibrating" the readers. All we have to do is glue to the volume on the trading fractal after we enter. We can do prorata stuff to see if it is sustained incerasing or pooping out. i havean interruption. I'll be right back
Short at 11:38 @ 861.50 no volume on Break Down. (no volume on BO -- reversal?) Cover when stochastics crossed 20 line up at 11:46 @861.00 +0.5