With only a very basic understanding of the method, and understanding that Jack may well have passed on some trades, I calculate a gain of 9 1/2 points on the day. This was achieved simply by taking all of the 14-1-3 signals on a five-minute chart. On the other hand, passing on about a 1/3 of the signals, and bailing early because of my own use of support/resistance, plus some second-gussing, and some disbelief, I walked with 5 1/4 points on the day. nether total is bad...
Don't start spending those winning just yet. Running Jack's "system" through a backtest over the last five years yields a juicy profit factor of .84. Nor is is fadeable since the test does not include slippage and commissions. -blueberrycake
I am going to update this thread that was started by a moderator. I also am starting a journal that I hope people read but do not comment in. Make comments to me if you wish in the thread in which I am participating instead.
You will find that in a while the slower chart (3 min) will go bullish. The 1 min chart can be used to anticipate the action on the slower chart.What is the message I am giving you here? I am suggesting that yoiu ue fractal pairs to trade. Trade on the slower and use the faster to anticipate.
Answersa As you watch on entries enter when the slow line appears. Often it will disappear and come back again. It is slow and shy. when you have been making money for a while cheat a little and use just the fast line on the 5, 2, 3 then go back to the 14, 1, 3; this will allow you to make a lot more money sooner. Since you are an accountant and a lawyer, you are allowed to cheat a little, no one will know or care. for leaving leave at the first opportunity on the 14,1,3. after a while watch the MACD (5, 13,6) if it is still on the same side of the 50% line, then hang in there a while longer until the fast MACD line crosses the slow line on the way to the center and then get out. this is another way to make more money by cheating a little.
Ditch and daniel are going to set the record for mediocracy. There are some real screw ups you can make using stochastics. I'll post some when the time comes. Too many here to break out individually.
I will use Macd for trend, channels for range (and formations to show S and R), we are using stochastics to make money temporarily.