Thanks so much for your post.A lot of people here could process your questions and I will do it briefly to add a little here and there for what is coming up. One important thing you tell us is that you have a terrific feel for this stuff and also you are interrelating things. The interrelationships appear more easily as a person gets the sequences listed and understood. Many of your comments show parts of sequences below. It is like looking at a partially commpleted jigsaw puzzle; the groups of pieces, like sequence segments, beging to give you a picture of what you are going to be seeing as a KISS approach. See ***'s below. thanks again for the opportunity you gave to all of us.
I've been paper trading the S&P for a year and am finding Jack's methods to be the most successful I've used so far. Thanks Jack and all the other contributors for all the valuable data. Just one question for Jack (or nwbprop or vorzo or anyone else who can enlighten me). What exactly is a bracket and "bracketing"? Thanks.
put a buy stop a little above the mkt & a sell stop a little below - so that you go with whichever way the mkt chooses
Hopefully, i will be consisitently posting my am trades during lunch. I hope that everyone can learn and we can move to the next plateau together. I am friends with cresciendo(bad spelling) and we are working together to learn this stuff. I trade off the 5 but use the 1 min to anticipate. I thought it would be more helpful to post the 1 min instead of the 5. Sorry but my time on my first alert(graph) is about 3 min fast. Trades: 9:45-- Synch- the market was strong and my 5 min macd was xover and stocahstics were approaching the 80 level. I decided to enter on the next 1 min xover or 50% macd bounce. this occured at 9:45. I was looking for this to turn into a rocket. 9:50--the 1 min macd did not really make a great bounce off the 50% line. I was more inclined to taking a failed rocket reverse with divergence of stoch as confirmation. I therefore exited my long and reversed when the 1 min macd xover. 10:00--The divergence never really occured(which also means that they started to entwine) becasue i think the market seemed to be waiting for the 10 am number. since we had sntwining i re-enterd my long on the next 1 min xover. 10:08--i drew my trend channels and the channels were broken along with stoch coming out of 80 tape. I therefore exited. I did not reverse because i only like to reverse when there is no entwining(failed rocket reversal). 10:38--volume dry up under 100k. i entered a short on the breakout down with extra confirmation by the 1 min xover. was looking for thie to turn into a short rocket. 11:00--I exited at 11 oclock which seems to me to be a premature exit. I should have waited. I should have waited until 11:11 when it broke the channel and stoch exited 20 level for antoher failed rocket. jc
In retrospect, it looks as if after the vdu BO down, i should have waited to see how price would react at the low of the day. We already had 1 failed rocket and too me it seems that more often 1 failed rocket leads to another in this market. A rangy day. It ended up creating a double bottom at 10:54. oh well something too look at.
As I was expecting sort of a "banger" day, I passed on the morning trades. One trade this afternoon as follows: Short ES 2:37pm at 983.50 observations: macd -.53, stoch fast line under 20, coming off potential double top, 1min began entwining under 20 and volume was low during the ensuing several minutes of consolidation at 2:44 vol continued to drop off at 2:45 slow line now under 20 also at 2:46 1 min break down with higher volume at 2:47 5min stoch fast and slow under 20 at 2:51 5min volume dropping on basing action at this point everything seems in gear, but suddenly the 1min stoch starts screaming up, 5min macd rounding bottom, and 5min stoch leaves above 20, so I bailed at b/e I must say, a major benefit of using this methodology is a LOT less stress. You just get in and get out. In retropsect it seems like I bailed at just the right time. Part of me wants to attribute that to mere luck, I'd like to think it was at least partially skill.
Becasue earlier i missed the double bottom and we had 2 failed rockets this morning, i was more inclined to think that their would be a failed rocket long and double top @ 2. I therefore exited my long and shorted around the high around 2:06 and covered at 3:02 when it broke my trend channels. we exited very close to eachother. Looks like you had a Great cover. jc
Some of you may have noticed that a post that contained a personal attack is no longer present on this thread. I deleted it as well as the response to it.
I see you have your views. Please stay off this board because your views are not appropriate by any standards. Your notes above do not make a case from my point of view. i know that i am stuck with your stuff here and I am stuck with the board moderator. The way you reason now is not going to get you to millionaire land fast unless you get off the stuff you unintentionally drag up as you ad lib. I am pissed to be sure for your screwing up what is what re paper and real trading. Your perception of the people here is so out of it as well. Anyone who is making a continuous and steady and time consuming effort is not going to be where you think they will be. i do not have comprehensive data on this. What I do know is how well people do when they check in with me and give me data. Moreso, I work with people. I know how they do and I watch them and I comment to them. What you say is not where it is at. I have deep obligations here. You do not as shown by what you do. I made a plea for some simple stewardship by the guy who moderates this place. You're not going to refrain as you say so i have to deal with you too. I shall. What people have to understand for their benefit is how people get screwed up and stuck in the place where they are. There is another thread that puts your stuff in perspective etc. The deal that is before me is to get on the table for experts all that I know before I crap out. All these people here will become experts. I see them as experts now, in fact. They are expert most of all in getting in the groove with what they know. The guys here who are slaloming come from many countries and they cover the landscape. whyat i know is this: you can spell it all out and people can't do it. I also know that if you go to where the person is, then they can get to anywhere. the bottom line is running profits daily that exceed the daily range by a nice coeficient. This statement is pure bullshit around here now. however, it won't be for too much longer. I have a deep obligation to others to go to where they are and bring them to their potential. I am reading and listening to find the little handles to hitch on to to both add resources and help people get over impediments. If you ever see anyone who knows the appropriate frequency of trading in a market of a specific sort, then don't lay your number on him. He has dealt with the exponential factor of the compound interest formula properly. Vorso has it. "The rain in Spain is mostly on the plain." He has it. All he has to do is understand that he can start anytime he wants to go down the yellow brick road. We are not dealing with "edge" bullshit here. By filling in the yellow brick road excel sheet using the efficiencies you want on the duration you want, you will get there. Your stuff on profits and paper/real is a myth that you experienced and that I did not ever. Here we are going to "know" and "see" and "seek". Your characterization of ET is a pain in the ass.
If you look at two paths A and B. I prefer that people use B. A. go to a place and learn a whole method by paper trading. Then go into the market with real money. B. Go through levels of learning where the levels are arranged so you can make money oneach level. do not go from one level to the next until you make money according to a goal first. My goal here is three times inital capital. and the level first done is rockets only using one contract max. Lets say you are already a trder and you have some stuff going for you. That includes most people here. Well add stuff that helps. If you find out that you can drop something (like your hair trigger exits) then do that in favor of the improvement. When we get through this.....you will have a two level tool box with the ability to trade continuously on the right side of any market. One level is for the contuation strategy and the other level is for the change strategy. you will see the market operating point as the center of a tic tac toe board that move about a biggr matrix. you will see flaws in sequences as "blockers" between the operating point and the eight adjacent tictac toe cells. you will see the blockers set you up for the next move of the operating point to the only place it can go. Your tools will aways be used in accrdance with the whole nine cells of the tic tac toe. What everyone is in for is a KISS mode of operation where you have an excellent view of the playing board. Making a multiple (above unity for sure) of the daily H/L range is the daily money velocity target regardless of anything else. You are going to find out what the word real means. If you think anything you are presently doing is meaningless; get that out of your head right now.