Yes, learning the market in the beginning is a disjointed, non-linear process. If I were to generalize my evolution as a trader over the years, then it would be as follows: 1. Learn the major areas of technical analysis. This is an ongoing process; investigate everything. Don't be dismissive of any area until you have proven it to yourself. 2. Develop a simple working system incorporating some basic technical analysis elements; I believe this is (and it was) the hardest step. That is why this thread is so valuable - it contains a specific methodology, and you will have the framework for developing one of your own. 3. Develop a suite of systems over several time frames: intraday scalp, intraday position, multi-day position, long-term sentiment. 4. Develop a flowchart of system-to-system interaction, i.e., identify when your intraday system overrides your multi-day system and vice versa. If the systems are in sync, then ride them all. If the intraday signal is extremely reliable, then don't let it just hedge your multi-day system. Reverse and re-establish the higher timeframe position at the end of the day. 5. Cross-pollinate the systems. For example, if one system is very good at identifying major support and resistance, then incorporate those levels into the lower timeframe system, perhaps using these levels as areas to take profits. PTR
Lets all take a deep breath and relax. We cannot afford to lose Jack. He is the finest educator on this board, with no ill motivations. I can see the writing on the wall, his stuff works. Let him do his thing how he knows best. If you don't understand him, reconsider that your perceptual filters may be really out of wack with what is useful. You might just be amazed at what happens if you can just decide now to let go of what you used to think was true.
This thread and forum will deal only with technical analysis and trading and all personal attacks will be deleted. No exceptions.
Thnx dgabriel. Appreciate anything that keeps jack on board. This is going to be a lot of fun and will be a great summer for learning. I was also wondering if someone could stear me in the right direction on posting my charts. I just looked at what i have been recently posting.....and the graphs all look like shit. I tried using Xnviewer because it was suggested earlier in this thread but the graphs still look like crap. thnx. jc
quote from dgabriel: "This thread and forum will deal only with technical analysis and trading and all personal attacks will be deleted. No exceptions." I am not anyones' groupie, basically just trying to learn how to make a buck. But now that I think of it, censorship here seems to be biased.......... colina
If I had a choice between moderators and Jack, I"d pick Jack regardless of supposed attacks. You see, the moderators don't teach me anything, Jack does. Unfortunately, because you choose to delete this supposed post, I now can't make my own mind up as.
Yes I have been. It "sounds" like you're getting a bit bent out of shape. Is ET now going to consider personal opinions the same thing as attacks?
I have tried to use xnviewer again saving with more colors. I hope everyone can see my graphs without a hitch. 9:45--At synch, Although the fast line had diverged out of the 80 line. i thought we were still entering a long rocket. I decided to enter on the next 1 min xover which occured at 9:49. If i was wrong i was going to wash out for a few cents loss(SPY). 10:00--the economic number came out and the market seemed to pop and confirm our rocket. It then started creating a point2 around 10:01. 10:05--Stoch had exited 80 tape but volume had dried up on 1 min. I thought it was creating a 2nd point3. I drew my trendlines accordingly. Price started increasing with volume increasing. All no flaws. 10:09--price makes a push down through my 2nd pt 3 channels. I exited. It was a bad sell. Next time i think i should hold on becasue volume was originally increasing from the dry up at 10:05. This was a big kick in the crotch because i missed the real move of 30 more cents as soon as i sold. 10:16--price failed to make it to the other side and volume died. Dry up and divergence on stoch = change. I shorted(reversal if i had a long still) at 10:16. 10:31--price went my way but i did not know where to exit. Price started to come back up so i thought we would be stuck in CCC for a while. I there for exited. jc